Cosmetics giant, Revlon Inc, had filed for bankruptcy protection, weighed down by supply chain disruptions, rising inflation, and debt obligations. Its shares had plunged more than 82% since January, however, they soared 91.28% on June 17th, 2022 after Reliance Industries considered buying out the company. Mukesh Ambani-led Indian oil-to-retail conglomerate is now mulling bidding for [...]
The shares of two EV companies were beaten down to reach their respective 52-week lows. Amara Raja Batteries Limited slipped 2.58% to ₹449.50 apiece, its new 52-week low. Meanwhile, Graphite India Limited’s shares tanked 4.91% to reach their 52-week low of ₹ 360.30 apiece. Amara Raja Batteries Limited’s share price has been declining since the [...]
Indian equity benchmarks opened on a positive note and the Nifty reclaimed 15300 points on Monday’s early trades. However, losses in the metal and oil & gas sectors offset gains. The tide has turned for metal stocks. Metal stocks in general are melting sharply after a massive outperformance last year. Nifty Metal plunged 4.53% on [...]
Metals and mining major Vedanta was down almost 12% in the early hours of the trading session on Monday. It was trading at its new 52-week low of ₹ 232 per share as of 11:45 IST. The stock is down more than 34% year to date against an almost 20% decline in the benchmark NIFTY [...]
The BSE Sensex and the NSE Nifty started the week with a bloodbath as they suffered steep losses on Monday. Weakness was observed across sectors as the markets mirrored a global sell-off amid worries regarding the inflation in the US and the US Fed’s policy. A lockdown was reimposed in Shanghai due to a surge [...]
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Nazara Technologies, a Rakesh Jhunjhunwala portfolio stock, has fixed 27th June 2022 as the record date for the proposed issue of bonus shares. Earlier, on 13th May, its board of directors had considered and approved the recommendation for a bonus issue of one equity share for every one share held. “It is hereby informed that [...]
