Latest Stock Market News

HUL shares have underperformed the market in the past year with the stock remaining flat as against the 27% gains in the Nifty FMCG index and the 18% upmove in the benchmark Nifty. ITC shares surged 64% in this period.

The drop in net worth to $234.4 billion is the seventh-largest decline ever among those in the Bloomberg Billionaires Index, and further narrows the wealth gap between Musk and Bernard Arnault, the world’s two richest people. Musk’s fortune still exceeds that of Arnault, chairman of luxury goods maker LVMH, by about $33 billion.

Italian pencil maker Fabbrica Italiana Lapis ed Affini SpA (Fila), which holds a 51% stake in Indian stationary maker DOMS, has approved an initial public offering (IPO) of the latter. Fila has committed to selling €90m ($99m) worth of shares in DOMS while staying on as the largest shareholder after the IPO. The listing is scheduled to close by the end of 2019.

The stock has been in great momentum this week gaining more than 11% over the five trading sessions, significantly outperforming the S&P BSE Sensex which has given 0.94% returns during this time.

Power Finance Corporation (PFC) has launched the Tranche I Issue of non-convertible debentures (NCDs) with a base issue size of INR 500 Cr ($66m) and a green shoe option of up to INR 4,500 Cr, totaling INR 5,000 Cr. The debentures are rated AAA by ICRA, CRISIL, and CARE and have tenures of 3, 10, and 15 years

The company has not shared the date for the annual general meeting. “We shall inform you in due course the date on which the company will hold its Annual General Meeting for the year ended March 31, 2023,” RIL statement reads

Net interest margin for the quarter improved to 13% from 11.1% in the year ago period. Net interest income rose by 65.4% year-on-year at Rs 763 crore.

The board has recommended dividend payout of Rs 9 a share, subject to approval of the shareholders.

The National Stock Exchange of India (NSE) has warned investors against a scheme promising assured returns offered by Ujjwal Priyadarshi and Neha, who were not registered with any authorised member of the bourse. The individuals were offering tips on securities

TCS, HCL, Wipro and Infosys have announced their Q1 earnings so far​