Latest Stock Market News

This is much higher than Rs 1,587 crore that analysts projected in an ETNow poll.

Some investors and analysts are concerned that the price could drop even more because of little growth prospects for the legacy business, risks of further disinvestment by the government and the absence of major incentives for shareholders.

​​ The buyback represents 0.98 per cent of the total paid-up equity share capital of the company as on March 31, 2022, Motilal Oswal Financial Services said in a statement.

“Our business exhibited strong performance during the fiscal. Strong delivery in line with our guidance across all parameters. We remain committed to achieving consistent delivery of our business goals,” the company said.

BlackRock Global Funds India Fund picked up the same amount of shares at the same price.

The company declared a dividend of Rs 3 per share. The stock of Bajaj Electricals gained over 8% on Tuesday to close at Rs 988.85. The benchmark Sensex made a 2.54% recovery on Tuesday, logging the best single-day gains in three months.

Stock exchange BSE on Tuesday said it appointed a former senior official of the Reserve Bank of India as its Chairman.

Wednesday is likely to see the levels of 16,330 and 16,485 acting as immediate resistance points. The supports come in at 16,160 and 16,030 levels. The trading range is likely to stay wider than usual.

After scaling many new highs, Dalal Street ended the fiscal 2022 with a healthy 18 per cent gains, and ended calendar 2021 with a healthier 24 per cent gains.

New Delhi is considering inviting bids for a 20%-25% stake in BPCL, instead of an outright sale of its entire 52.98% holding, the two government officials, who declined to be named, told Reuters.