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IndusInd Bank crashes 4% on multiple bulk deals

Updated at : 2022-10-11 17:20:01

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According to reports, about 1.4 per cent equity shares of the bank exchanged hands in the seven large block deals. However, ETMarkets.com independently could not verify the deals.Heavy trading volumes on exchanges do suggest that bulk deals were executed but details of buyers and sellers could not be ascertained at the time of writing this report.

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"Rupee traded in a narrow range after hitting fresh all-time lows against the US dollar. Dollar has been gaining momentum in the past few sessions following better-than-expected non farm payrolls numbers from the US," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.

"I would say urban discretionary spending has fared well but the moment you go into a semi-urban mix and rural mix, that is where brands continue to face challenges."

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“The Board has approved the sub-division/split of each existing equity share of face value of Rs 10 into 5 equity shares of face value of Rs 2 fully paid-up and matters related thereto subject to the shareholders and others approvals as may be required," said the financial services firm in an exchange filing.

How many share buybacks has Infosys done so far?

Updated at : 2022-10-11 16:25:01

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The first share buyback or share repurchase of Rs 13,000 crore was announced in December 2017 through the tender offer route. For the offer, the buyback price was kept at Rs 1,150 per share.Subsequently, the cash-rich IT company announced Rs 8,260 crore share buyback in 2019 through the open market route. The buyback price for the same was fixed at Rs 747.38 apiece.

It cannot remain too isolated for too long if global markets are correcting. But definitely, we have the strength supported by GDP and export growth. I do not see markets going down below 15,700.

We expect margin to expand by 70 bps but remain below the guided range of 17-17.5%, owing to higher compensation and initiation of quarterly promotions. These headwinds will be offset by operational efficiencies, rupee depreciation and improvement in utilization.

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Tracxn Technologies is one of the leading global providers of differentiated private market data and intelligence in a highly competitive industry but it reported negative EBITDA in the previous three financial years, said Anand Rathi Wealth, assigning an avoid rating to the issue.

"What clients are seeking to achieve through technology, the nuance of it keeps on changing, but there is no denying the fact that technology is at the core of both – growth transformation as well as the optimisation agenda"

It sells the products of companies such as Hindustan Unilever, Reckitt Benckiser, Dabur, Himalaya, TTK Prestige, Colgate Palmolive, Philips India, Haier, Parle Agro, Bajaj Consumer, Britannia Industries, Tata Consumer Products and more.

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