The sale of government's up to 5 per cent stake in IRCTC got over-subscribed on the first day of the offer, with institutional investors putting in bids worth Rs 3,800 crore. In the two-day offer-for-sale (OFS), the government is selling 4 crore shares or 5 per cent stake in Indian Railway Catering and Tourism Corporation [...]
Equity benchmarks Sensex and Nifty faced heavy drubbing on Thursday, falling over 1 per cent each, in tandem with weak global markets following the US Federal Reserve's interest rate hike and its hawkish stance. The 30-share BSE Sensex tanked 878.88 points or 1.40 per cent to settle at 61,799.03. During the day, it tumbled 962.3 [...]
Crude oil prices and diesel marketing margins witnessed sharp corrections to ₹ 3.5 per litre to ₹ 13 per litre in H1FY23, as international diesel prices corrected to $103/bbl after reaching a high of $170/bbl in Mar 2022. As a result, analysts at brokerage firm Prabhudas Lilladher upgraded the shares of three oil marketing companies [...]
The shares of Gulshan Polyols Limited opened 9 per cent higher at Rs 267.70 as against its previous close of Rs 245.75. This came after the company won an order worth Rs 137 Crore to supply 22,209.2 Kilolitres of Ethanol from its Boregaon Plant to multiple Oil Marketing Companies (OMCs) including Bharat Petroleum Corporation Ltd, [...]
The shares of General Insurance Corporation of India Ltd. (GIC Re) rallied 10% on the bourses today to hit their day’s high of Rs 175.90. The stock has gone up over 20% in the previous two trading sessions. The six-month performance has been impressive as well. It has generated an attractive return of 57% for [...]
Even as macro headwinds impact performance of textile players across segments in the second quarter of 2022-23, the companies are expected to witness a healthy turnover in this financial year, Icra said in a report. Icra said it expects textile companies to report healthy growth in turnover in FY23 while the margins are expected to [...]
One97 Communications, the parent company of payments solutions firm Paytm, on December 12 approved a share buyback plan of ₹ 850 crores, priced at ₹ 810 per share. Its shares were trading at ₹ 530 levels on Wednesday. “The approval of the Board be and is hereby granted for the buy-back by the Company of [...]
The CBI has booked three Jalgaon-based jewellery companies for alleged loan fraud of over Rs 352 crore in the State Bank of India, officials said on Wednesday. In three separate FIRs, the agency has named Rajmal Lakhichand Jewellers Pvt Ltd, RL Gold Pvt Ltd, and Manraj Jewellers Pvt Ltd, and their promoters-directors-guarantors -- Ishwarlal Shankarlal [...]
A company generally decides to split its shares mainly because of two reasons. The first is to improve the trading liquidity in the market and the second reason is to make the stock seem more affordable to investors. The number of shares outstanding increases and the price per share decreases, keeping the total market capitalization [...]
The shares of KIOCL Ltd. rallied 12.07% in the early hours of trading on Wednesday. The stock of the government-owned mining company touched its high of Rs 232.90 per share. Formerly known as Kudremukh Iron Ore Company Ltd., KIOCL is a central public sector undertaking under the Ministry of Steel, Government of India. The rise [...]
