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The Dow Jones Industrial Average rose 30.85 points, or 0.09%, at the open to 32,795.50.

Options trader P R Sundar settled a case with Sebi by returning the advisory fee and disgorging over Rs 6 crore. This was related to Mansun Consulting, of which he is a promoter, offering investment advice without registration. Sebi found various complaints about Sunar running a website and offering packages for advisory services, which were communicated to clients. Upon inquiry, recommendations provided by Mansun were found to fall under the category of "investment advice".The entities agreed to pay Rs 46.8 lakh and a disgorgement amount of Rs 6.07 crore, along with refraining from dealing in securities in India for a year.

Its total income rose to Rs 446.39 crore in the fourth quarter of the last fiscal from Rs 320.12 crore in the year-ago period, the company said in a regulatory filing.

Inox Green Energy Services on Friday said its consolidated net loss narrowed to Rs 1.61 crore in the March 2023 quarter. The company had reported a consolidated net loss of Rs 1.96 crore in the quarter ended March 2022, a BSE filing showed.

BEML benefitted from softness in commodity prices and normalising supply chain as it saw a near-25% dip in costs of raw materials, pulling total expenses down by 23.7% to 11.29 billion rupees.

However, with a recent sharp upwards move (~4% in May so far) the valuation multiples look adequate. On the sustenance of the current rally, given global uncertainty and domestic valuation levels, I would suggest caution.

Coto, a social networking platform exclusively for women, aims to create safe and secure spaces for women to discuss pertinent issues, build communities, and participate in conversations. The platform incentivizes participation through its Coto gains and token system, in which members earn tokens by contributing to their communities. Members can also choose to create their own communities with a specific focus, such as financial empowerment. The platform offers two lines of monetization: building the platform in crypto and monetizing content through brands and users in fiat.

Mahindra & Mahindra has recommended a dividend of Rs 16.25 per equity share, which is 325% of its face value. The decision was made during a board meeting to approve the company’s quarterly results. The Q4 result showed a 22% YoY rise in standalone net profit to Rs 1,549 crore and revenue jumped 31% to Rs 22,571.37 crore. The company achieved an all-time high profit of Rs 10,282 crore on a consolidated level in FY23, driven by successful automotive launches, farm equipment growth, strong financial services, and monetisation/partnerships. CEO and MD Anish Shah said it was a “blockbuster year” for the group.

While the Sensex closed at 62,501.69, up by 629.07 points or 1.02%, the broader market Nifty50 settled at 18,499, up by 177.85 points or 0.97%.

Nifty saw a bullish candle formation on Friday and broke out of a consolidation move, but must maintain above 18,442 zones for upward movement, according to Chandan Taparia of Motilal Oswal. Meanwhile, option data suggests a trading range between 18,200 and 18,800 zones. Technical analysts Jatin Gedia and Amol Athawale predict positive short-term outlooks with key levels acting as trend deciders. Rahul Ghose, Founder & CEO of Hedged, advises buying opportunities for Nifty, which may have short-term resistance at 18,700 and 18,800 levels and already sees an increase in options OI for June month expiry.