Latest Stock Market News

Shell had rebounded into a $3.4-billion profit in second quarter of 2021 from a $18.1-billion loss in the same period of 2020 when it took a massive impairment charge due to the Covid-ravaged oil market.

JK Lakshmi Cement Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 5165.72 Crore) operating in Cement sector.

The current valuation of $4.5 billion is still above the initial investment price of many pre-IPO investors, triggering a selloff. New investors should let the price settle in, there will still be lots of opportunities to invest in Zomato. Also, one should look for signs of profitability, consistent organic growth and acquisitions showing signs of synergy to enter the stock as an investment.

Promoters held 48.76 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 20.71 per cent and 9.82 per cent, respectively.

The stock traded at a P/E multiple of 9.65, while the price-to-book value ratio stood at 2.13.

Siddharth Mittal, CEO & Managing Director, Biocon, said, “The strong year-on-year growth of the segment was driven by both our API and Formulations businesses, on a lower base in the corresponding period of the previous fiscal, which was impacted by COVID-related operational and supply chain challenges.

A total of 529,587 shares changed hands on the counter till time (IST).

The stock split also decreases the market price of the individual shares as the face value of the scrip changes, however, does not result in changing the market capitalisation of the company. Tata Steel had received shareholders’ approval at the annual general meeting of the company held on June 28, 2022. With the record date set on July 29 for the stock split, this means Tata Steel shares will turned ex-split on July 28

“Infosys has been one of my favourite stocks. I have it in my portfolio and have not sold anything there. I do expect the stock to do very well going forward. In the next six to eight years, this will be one of the best performing largecap stocks coming out of India and the reason is very simple: they have a lot of cash on their balance sheets to expand and acquire companies.”

The stock has given a three-year return of 95.93 per cent as compared to a 46.85 per cent and 29.92 per cent rise seen in Nifty Midcap 100 and Nifty Financial services, respectively.