In early trade on Wednesday, shares of one of the largest microfinance institutions rose 5.2 percent to Rs 525 per share after BNP Paribas Arbitrage and Abakkus Emerging Opportunities Fund acquired a 1.5 percent stake. Ujjivan Financial Services Ltd shares closed at Rs 517.05 apiece, up Rs 21.50 or 4.34 percent from the previous close, [...]
The telecom services industry is expected to post moderate revenue growth of 7-9% in FY 24, due to muted average revenue per user (ARPU) expansion in the absence of tariff hikes in the near-term, ICRA said. The industry has been "upfronting" 5G capex (capital expenditure) and ICRA foresees sectoral capex at around Rs 70,000 crore [...]
Fitch Ratings on Wednesday said the operating environment for Indian banks has strengthened as economic risks associated with the Covid-19 pandemic have ebbed. A number of prudential indicators for the sector have also improved compared to pre-pandemic levels, and the operating environment score continues to benefit from the economy’s well-diversified structure, which helps to reduce [...]
In the stock market, a bulk transaction is one in which the total number of shares purchased or sold exceeds 0.5% of the company's share capital. On Wednesday shares of this company opened at Rs. 361.50 apiece and closed at Rs. 368.60 apiece. Currently, the shares trading above then the 50-days and 200-days moving averages. [...]
Shares of this auto-ancillary stock under the mid-cap category gained up to 7 percent in Wednesday’s trading session after the company commissioned two new EV plants. With a market capitalization of Rs 35,176 crores, the stocks of UNO Minda Limited had a flat movement during the initial trading hours on Wednesday, but, thereafter, witnessed a [...]
Chennai-based TVS Motor Company and Germany's BMW Motorrad are in discussions to expand the manufacturing network beyond India under their long-term strategic partnership, the companies said on Wednesday. In April 2013, the two firms had entered into a partnership to manufacture sub-500cc motorcycles for global markets. It resulted in the development of four products on [...]
A penny stock gained nearly 19 percent on Wednesday’s intraday trades after it reported robust results for the April to June quarter of the current financial year (Q1FY24). Vikas Lifecare trades and manufactures polymer, rubber compounds and additives for plastics, synthetic & natural rubber, infra, agro products, FMCG products, and so on. The company reported [...]
Household products and stationery manufacturer Cello World Ltd has filed preliminary papers with capital market regulator SEBI to raise Rs 1,750 crore through an initial public offering (IPO). The maiden public issue is a complete offer for sale (OFS) by promoters and other selling shareholders with no fresh issue of equity share component, according to [...]
This S&P BSE Smallcap stock made 52 week high after receiving an order in North America. The stock has a market cap of Rs. ~9,545 crore and has been on an uptrend since ~July 2022 - increasing 3.8x since. Buoyant momentum and investors’ sentiment is emphasized by its price currently being ~41% above its 20 [...]
The shares of the leading manufacturer of PVC profiles locked around a 2 percent upper circuit on Wednesday’s early trade after ace investor Ashish Kacholia bought a stake in the company. At 11:15 p.m., Dhabriya Ltd shares touched around 2 percent upper circuit of Rs 286.50 apiece on the Exchange, and the company has a [...]
