Latest Stock Market News

After the Rs 2,000 crore rights issue, the company’s equity base will increase to Rs 4,500 crore. Earlier this year, the board of Sobha Ltd approved raising Rs 2,000 crore through a rights issue to increase the equity of the company and fund the growth.

State-owned Bharat Heavy Electrical Ltd (BHEL) on Tuesday reported an over 25 per cent decline in its consolidated net profit to Rs 489.62 crore in the March quarter, mainly due to higher expenses.

ETMarkets.com analysed stocks that have done the best in terms of profit growth on a year-on-year (YoY) basis.

Indian shares recovered to close flat on Tuesday, with gains in metal stocks offsetting declines in other sectors. The S&P BSE Sensex closed 0.07% lower at 73,953, while the NSE Nifty50 index ended above the 22,500 level. Indian Bank has shown bullish trend on the daily chart with the breakout of an Inverse Head and Shoulders pattern. Aditya Birla Fashion witnessed a notable breakout of a pattern called the Cup and Handle, suggesting a likely uptrend ahead.

The Dow Jones Industrial Average fell 2.37 points, or 0.01%, at the open to 39,804.40.

The listed entities will now have to follow the industry standards to ensure compliance. Further, the exchanges are advised to bring the contents of this circular to the notice of companies and ensure its compliance. Further, in another circular Sebi has also revamped the method for calculating the market capitalisation of listed companies.

The index has been rising, making new highs since the second half of 2023. It made new all-time highs in 5 consecutive trading sessions. A significant surge in demand from China is believed to drive the rally in the metal space.

SBI announced a dividend of Rs 13.70/share. The record date has been set for May 24 for determining the eligible shareholders. Record date for Sula Vineyards’ dividend of Rs 4.50 per share has been fixed as May 22.

At the buyback auction on Tuesday, the RBI accepted bids worth Rs 5,266.04 crore as against the aggregate notified amount of Rs 60,000 crore worth of bonds that the government had offered to repurchase.

Hitachi Energy India on Tuesday posted a 123.7 per cent growth in net profit to Rs 113.7 crore in the March quarter mainly on the back of higher revenues. The company had posted a net profit of Rs 50.8 crore in the same quarter a year ago, Hitachi Energy said in a statement.