Latest Stock Market News

“Traders are speculating if the MPC (Monetary Policy Committee) has met over the last few days. However, there is a lot of confusion. There has been no fresh negative development to prompt an off-policy rate hike. Moreover, in the recent past, rate actions have been announced at 10 am when the markets opened.”

The BSE Sensex was trading 745 points or 1.31 per cent lower at 56,231. Nifty50 was trading lower by 230 points at 16,839. The index had reclaimed the 17,100 level in the early trade.

The size of the issue is up to Rs 50 crore along with an option to retain over subscription of up to Rs 650 crore, aggregating up to Rs 700 crore, it added.

The Relative Strength Index of the stock stood at 45.15 on Wednesday.

The forex market was closed on Tuesday on account of Id-Ul-Fitr.

The Burman group, through various entities, had made a Rs 604.76-crore open offer to acquire around 1.89 crore shares of Eveready Industries, representing 26 per cent of the expanded voting share capital, at a price of Rs 320 per share, payable in cash.

​​Net Interest Income (NII) for the quarter rose 18 per cent YoY to Rs 4,521 crore from Rs 3,843 crore in the same quarter last year. Net Interest Margin (NIM) for the quarter came in at 4.78 per cent.

“Everything is pointing towards India becoming the only alternative to the developed world, especially the US. It is one of the large markets left where people can deploy funds and on the other hand, if it is in an inflationary environment, one is better off being in a stock than the bond.”

“In this quarter, we delivered a robust top-line growth of 15 per cent and a mid-single-digit volume growth which demonstrates the resilience of our brands and a reflection of our execution strengths across divisions and channels,” said Varun Berry, Managing Director, Britannia Industries.

The company’s board recommended a dividend of Rs 51 per share. The company has also announced a proportionate dividend of Rs 12.75 per equity share or 510 per cent for the partly paid-up ordinary shares of the company.