Page 1265 - Markets News
RVNL dips 7% as government to offload over 5% stake via OFS starting today
Since April, the share price of RNVL has more-than-doubled from a level of Rs 68.60 and to a record high of Rs 146.65 on Monday, July 24.
 "RVNL dips 7% as government to offload over 5% stake via OFS starting today")
Netweb Technologies lists at 89% premium over issue price
Shares got listed at Rs 947, a 89 per cent premium over its issue price of Rs 500 per share on the National Stock Exchange on Thursday.
 "Netweb Technologies lists at 89% premium over issue price")
Cipla surges 9% on strong Q1 results, raises FY24 margin guidance
For FY24, Cipla raised its EBITDA margin guidance to 23 per cent from 22 per cent earlier.
 "Cipla surges 9% on strong Q1 results, raises FY24 margin guidance")
Mahindra & Mahindra slips 6% on acquiring 3.5% stake in RBL Bank
The company said it may consider further investment, subject to pricing, regulatory approvals, and required procedures, however, in no circumstance will it exceed 9.9 per cent.
 "Mahindra & Mahindra slips 6% on acquiring 3.5% stake in RBL Bank")
Stocks to Watch: Tech M, Axis Bank, Dr Reddy's, RVNL, M&M, RBL Bank, AMCs
Stocks to watch on July 27, 2023: The govt is going to sell up to a 3.4 per cent stake in Rail Vikas Nigam with an option to additionally sell 1.96 per cent stake via an OFS
 "Stocks to Watch: Tech M, Axis Bank, Dr Reddy's, RVNL, M&M, RBL Bank, AMCs")
Nifty Pharma nears major hurdle at 14,536; Realty remains range-bound
According to Ravi Nathani, an independent technical analyst, given the overbought conditions on Nifty Pharma traders are advised to book profits and adopt a cash position for near- and short-term.
 "Nifty Pharma nears major hurdle at 14,536; Realty remains range-bound")
Sebi exempts 3 trusts from making open offer to Taj GVK Hotels shareholders
Markets regulator Sebi on Wednesday exempted three trusts from making an open offer to the shareholders of Taj GVK Hotels and Resorts Ltd after their proposed acquisition of a 49.44% stake
 "Sebi exempts 3 trusts from making open offer to Taj GVK Hotels shareholders")
Gift Nifty logs highest-ever turnover of $12.4 billion on July 25
Gift Nifty, which was being traded at the Singapore Exchange (SGX), has been transitioned to GIFT City in Gujarat
 "Gift Nifty logs highest-ever turnover of $12.4 billion on July 25")
Street cheers L&T's strong Q1, share buyback move; stock jumps by 3.5%
Majority of analysts bullish on the stock, but average target price indicates positives are nearly priced in
 "Street cheers L&T's strong Q1, share buyback move; stock jumps by 3.5%")
Persons-in-control norms may allow founders to skirt liability: InGovern
Proxy advisory firm InGovern advocates allowing ESOPs to promoters of late-stage companies
 "Persons-in-control norms may allow founders to skirt liability: InGovern")
SBI Mutual Fund purchases United Breweries shares for Rs 678 crore
The shares were purchased at an average price of Rs 1,465.80 per piece, taking the aggregate transaction size to Rs 678.43 crore
 "SBI Mutual Fund purchases United Breweries shares for Rs 678 crore")
Tata Motors' DVR shares soar over 12% on conversion plan announcement
Cancellation of ordinary shares to attract three levels of taxes
 "Tata Motors' DVR shares soar over 12% on conversion plan announcement")
Inflation bites off Jubilant Food's Q1 profit; analysts serve earnings cut
What's also worrying the Street is the likelihood of a dismal Q2FY24 performance, which they feel will be marred by soaring milk, cheese and vegetable prices, and an embargo on Ukraine's wheat exports
 "Inflation bites off Jubilant Food's Q1 profit; analysts serve earnings cut")
Sensex snaps 3-day losing streak, ends 351 pts up; L&T, RIL, ITC shine
CLOSING BELL ON JULY 26, 2023: The NSE Nifty rallied 98 points to 19,778; IT and bank stocks gained ground, while M&M and Bajaj twins slipped on Wednesday.
 "Sensex snaps 3-day losing streak, ends 351 pts up; L&T, RIL, ITC shine")
Suzlon Energy tumbles 10% in 2 days post Q1FY24 results
Shares of Suzlon Energy were locked in the 55 lower circuit band for a second straight day on Wednesday after the company's net profit for Q1FY24, including exceptional loss, tumbled to Rs 101 crroe
 "Suzlon Energy tumbles 10% in 2 days post Q1FY24 results")
Piramal Enterprises surges 9% on plan to consider share buyback on July 28
Axis Capital estimates the company could go for a buyback of 8 per cent of the existing equity base. The action is positive for the stock and supportive of valuations, it said
 "Piramal Enterprises surges 9% on plan to consider share buyback on July 28")
Should you subscribe to Yatharth Hospital's IPO? Here's what brokerages say
Yatharth Hospital IPO: In the grey market, the hospital chain's share is commanding a 20 per cent premium over its upper price band of Rs 300
 "Should you subscribe to Yatharth Hospital's IPO? Here's what brokerages say")
Action Construction at new high on strong outlook; soars 48% so far in July
Thus far in the calendar year 2023, the stock has zoomed 139 per cent, as compared to 9.2 per cent rise in the S&P BSE Sensex.
 "Action Construction at new high on strong outlook; soars 48% so far in July")
ACC, Ambuja: 5 cement stocks show rising trend on charts in a choppy market
The broader trend in the cement sector remains optimistic, price action riding along the overall bullish sentiment
 "ACC, Ambuja: 5 cement stocks show rising trend on charts in a choppy market")
Can Fin Homes sinks 8% after firm reports Rs 38 cr fraud at Ambala Branch
The company has undertaken legal action and expects one time impact on earnings, while, there will be no impact on assets quality.
 "Can Fin Homes sinks 8% after firm reports Rs 38 cr fraud at Ambala Branch")