Latest Stock Market News

Dabur India, incorporated in the year 1975, is a Large Cap company (having a market cap of Rs 91688.76 Crore) operating in FMCG sector.

Though the price denomination of a share has little relevance, investors – mostly retail – shy away from buying such stocks on the notion that these are expensive shares

Mankind Pharma derives 98% of its revenue from the domestic pharma market. Within its domestic business, 90% of its revenue comes from prescription pharmaceuticals and the rest from the consumer health business.

Nexus Select Mall, expects its businesses dependent on consumption to continue growing strongly, as pre-pandemic consumption grew at around 10%. The Blackstone-backed REIT, which has a 45% stake in the company, has 17 malls across 14 Indian cities and 3,000 stores giving footfall of 130 million customers in a year. The company plans to expand its portfolio and acquire more assets.

Swiss banking giant, UBS, has confirmed that Ulrich Koerner, CEO of Credit Suisse will join its board following the acquisition of its domestic rival. The Swiss government imposed the takeover for $3.25bn, prompted by the concern that Credit Suisse may also encounter financial difficulty following a series of scandals. Koerner will be the only executive from Credit Suisse to stay on board at UBS, and will be responsible for managing the integration process and ensuring Credit Suisse’s operational continuity. The merger is expected to be completed in the next few weeks. UBS CEO Sergio Ermotti said it will take time for the integration of the businesses and legal entities.

The stock quoted a 52-week high price of Rs 2713.25 and low of Rs 1660.65.

The stock is down 3% so far in 2023 compared with a gain of 1.5% in the S&P BSE Sensex Index, hurt in part by a decline in crude prices. Thirty-three of the 38 analysts that cover the conglomerate have buy ratings, with many citing attractive valuations as well as optimism for its various oil-related, consumer and telecom businesses.

Ramkrishna Forgings shares will trade ex-dividend on Tuesday following the announcement of an interim dividend of INR0.50 ($0.0067) for the fiscal period 2022-23. The record date was set at 9 May, with eligibility to receive the dividend to be determined by the end of the same day. The dividend yield stands at 0.49% based on the INR1.70 equity dividend per share paid over the past year. The company makes steel and iron forgings, with applications mainly in the automotive industry, as well as railway and defence sectors.

On the technical charts, the RSI of the stock stood at 47.64.

SBB dropped 7.7% after the Swedish landlord on Monday said it would delay its dividend payment and no longer carry out a 2.63 billion Swedish crowns ($259.1 million) rights issue after S&P Global cut its credit rating to junk.