Latest Stock Market News

Multibagger stock Aayush Wellness has set August 5 as the record date for its 10:1 stock split. Today is the last day to buy shares to qualify for the split, which will convert each share with a face value of Rs 10 into 10 shares with a face value of Re 1. The record date was confirmed in July, and investors purchasing shares on or after this date will not be eligible for the split benefits.

Birlasoft Ltd. key Products/Revenue Segments include Software Development Charges for the year ending 31-Mar-2024.

The Nifty and Sensex opened sharply lower on Friday, affected by declines in banking, auto, IT, and energy stocks. The sell-off mirrored a major drop in U.S. markets due to weak manufacturing data. Asian markets also fell, while rising oil prices added to market worries.

ITC Ltd., incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 620053.69 Crore) operating in Tobacco sector.

Jefferies has maintained a buy rating on ITC with a target price of Rs 585. The 3% growth in cigarette business volume met expectations, and stable taxation suggests continued momentum in the coming quarters. However, other segments fell short in terms of revenues and margins.

The Relative Strength Index of the stock stood at 79.94 on Friday.

The stock traded at a P/E multiple of -270.84, while the price-to-book value ratio stood at 10.16.

Amazon.com experienced a slowdown in online sales growth during the second quarter, as consumers opted for cheaper products. This cautious spending behavior caused an almost 8% decline in Amazon shares. Despite beating analyst expectations in profits and cloud computing sales, stiff competition and budget-conscious shoppers impacted Amazon’s projections for the upcoming quarter.

Several companies, including Britannia Industries and Chambal Fertilizers, marked August 5 as the record date to identify shareholders eligible for dividends. Investors had to buy shares by the day before the ex-date to qualify. Specific dividend amounts were announced for each firm, and this served as the final day for share purchase for eligibility.

The MSCI Asia Pacific Index dropped as much as 2.8%, the most since June 2022, with Taiwan Semiconductor Manufacturing Co. and Tokyo Electron Ltd. among the biggest drags. Japan’s Topix Index headed for a technical correction, while benchmarks in the tech-heavy markets of South Korea and Taiwan fell about 3%.