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Timken promoter sells Rs 1,956-crore stake

Updated at : 2024-05-29 06:20:01

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Government of Singapore, Monetary Authority of Singapore, HDFC Life, UTI MF and Nippon India MF were among some of the buyers. Shares of Timken India rose 2.78% to close at 4,062.80 on Tuesday. In last one month, the company’s shares gained 28.15% against an up-move of 1.94% in BSE 500 Index.

​ Amara Raja Energy & Mobility on Tuesday said its consolidated profit after tax rose 62 per cent to Rs 230 crore for the fourth quarter ended March 2024. The company had reported a profit after tax of Rs 142 crore in the January-March quarter of 2022-23 fiscal.

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Both silver and gold prices increased on Tuesday. Silver futures for July rose ₹618 (0.65%) to ₹95,226 around 7:25 pm. Gold futures for June reached an intraday high of ₹72,375 per 10 gm and were trading at ₹72,311 around the same time — an increase of ₹302 (0.42%).

The more domestically-focussed mid-caps and small-cap ended about 0.9% lower each, with the latter posting its biggest one-day drop in over two weeks.

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The Dow Jones Industrial Average fell 40.6 points, or 0.10%, at the open to 39,028.99.

The Aditya Birla Group company will offer 45 million common shares, or 7.5%, of Novelis at an estimated price band of $18 - $21 per share, it said in a statement, announcing that it has launched a roadshow for the IPO.

Meme stock GameStop soared nearly 20% in premarket trading on Tuesday after the struggling videogame retailer said it had raised over $900 million from selling its shares during the market rally earlier this month.

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State-owned construction firm NBCC Ltd on Tuesday reported a 26 per cent growth in its consolidated net profit to Rs 136.08 crore for the quarter ended March 2024. Its net profit stood at Rs 108.4 crore in the year-ago period.

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