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Gold prices dipped by Rs 750 per 10 gm on MCX. After posting significant gains in the past few trading sessions, some profit-booking at higher levels was warranted for both gold and silver. Silver prices have gained 14% in May so far and have shown a decline for the past 2 trading sessions.

Among the public shareholders, foreign investors own about 19% stake in the company and mutual funds are holding 4.74%, according to the latest shareholding data available with the exchanges.

The brokerage has set a target price of Rs 1,075 for the stock. Bharti Airtel continues to be its chosen pick. ICICI Securities has assigned a 15% premium to Bharti India’s valuations. It stands by its hypothesis of ‘small, but beautiful’ for BHL.

ITC board declares a final dividend of Rs 7.5 per share alongside Q4 profit of Rs 5,120 crore, missing estimates. Total dividend for FY24 set at Rs 13.75 per share. Revenue up 2% YoY. Stock shows strong technical performance.

As part of the demerger, which will unlock value for its 36 lakh shareholders and also improve the capital allocation of the parent company, ITC will own 40% of ITC Hotels. The remaining 60% will be owned by ITC shareholders in proportion to their ownership in the parent entity.

The transmission business can target long-term, patient investors seeking predictable cash flow, while SPTL, focusing on Global Products & Services (GPS) business, can attract capital seeking higher returns typically suited for pre-IPO or capital market investors.

The company reported an inventory cost of 364.6 million rupees, compared to a negative 1.83 billion rupees in inventory value a year ago.

ITC Q4 Results: Revenue from operations rose 2% year-on-year (YoY) to Rs 19,446 crore in the January-March 2024 period, compared with Rs 19,058 crore in the corresponding period of last year. The Board has also recommended a final dividend of Rs 7.50/share for the financial year ended March.

SN Goel discusses the positive factors for FY25, including high demand, improved coal supply, and lower prices. The market is expected to see growth driven by increased liquidity and policy initiatives. Goel further says , this year market share will be around 85% plus. And in the DAM and RTM market, they have about 99% plus market share.

Promoters held 62.91 per cent stake in the company as of 31-Mar-2024, while FII and DII ownership stood at 25.78 per cent and 2.26 per cent, respectively.