Posts in category Business Standard
Tech M sheds 9% in 5 days on JP Morgan, Citi downgrades, target price cuts (21-04-2023)
Tech Mahindra's stock fell 2.6 per to its day's low of Rs 994.55 on Friday after JP Morgan downgraded the stock to 'underweight' from 'neutral', slashing its target price by 10 per cent to Rs 900
Voda-Idea shares rally nearly 10 pc as K M Birla returns to company board (21-04-2023)
Shares of Vodafone Idea jumped nearly 10 per cent in morning trade on Friday after Aditya Birla Group Chairman Kumar Mangalam Birla returned to the board of the debt-ridden firm as an additional director in a non-executive and non-independent role.
The stock of the telecom firm zoomed 9.73 per cent to Rs 6.65 on the BSE.
At the NSE, it jumped 9.91 per cent to Rs 6.65.
Birla had stepped down from Vodafone Idea Ltd (VIL) board in August 2021 as non-executive chairman of the company.
"...the board of directors of the company...at its meeting appointed Kumar Mangalam Birla, as an additional director (Non-Executive and Non-Independent) with effect from 20 April 2023," VIL said in a regulatory filing on Thursday.
VIL is reeling under a debt of Rs 2.22 lakh crore, comprising deferred spectrum payment obligations of Rs 1.39 lakh crore and adjusted gross revenue liability of Rs 69,910 crore that are due to the government.
The debt from banks and financial institutions stood at Rs 13,190 c
Voda-Idea shares rally nearly 10 pc as K M Birla returns to company board (21-04-2023)
Shares of Vodafone Idea jumped nearly 10 per cent in morning trade on Friday after Aditya Birla Group Chairman Kumar Mangalam Birla returned to the board of the debt-ridden firm as an additional director in a non-executive and non-independent role.
The stock of the telecom firm zoomed 9.73 per cent to Rs 6.65 on the BSE.
At the NSE, it jumped 9.91 per cent to Rs 6.65.
Birla had stepped down from Vodafone Idea Ltd (VIL) board in August 2021 as non-executive chairman of the company.
"...the board of directors of the company...at its meeting appointed Kumar Mangalam Birla, as an additional director (Non-Executive and Non-Independent) with effect from 20 April 2023," VIL said in a regulatory filing on Thursday.
VIL is reeling under a debt of Rs 2.22 lakh crore, comprising deferred spectrum payment obligations of Rs 1.39 lakh crore and adjusted gross revenue liability of Rs 69,910 crore that are due to the government.
The debt from banks and financial institutions stood at Rs 13,190 c
ITC surpasses HDFC’s m-cap to become 7th most valued listed company (21-04-2023)
Thus far in calendar year 2023 (CY23), ITC has surged 22%, as compared to 3% decline in the S&P BSE Sensex, and 2.4% rise in HDFC Ltd
Rupee gains 1 paisa to 82.16 against dollar as market sentiment improves (21-04-2023)
The rupee gained 1 paisa to 82.16 against the US dollar in early trade on Friday, tracking a weak greenback against major currencies and positive sentiment in the domestic equities market.
Forex traders said downward movement of crude oil prices also supported the local unit.
At the interbank foreign exchange, the domestic unit opened strong at 82.11 against the dollar and hit the lowest level of 82.17 before trading at 82.16, registering a rise of 1 paisa over its previous close.
On Thursday, the rupee closed at 82.17 against the US currency.
Participants were also cautious due to expectations of further interest rate hike by the US Federal Reserve and other central banks.
"Upside hopes were abandoned as soon as USDINR turned below 82.2. Look for bounce back today as long as 81.97 holds, but the 82.4 objective now appears far. Towards this end, expect selling pressure on first entry into the 82.15-82.20 region," Anand James, Chief Market Strategist at Geojit Financial Services, s
Stock of this footwear company has zoomed over 100% in 9 trading days (21-04-2023)
Mirza International was locked at the 10 per cent upper circuit for the third straight day so far on Friday.
ICICI Bank to report Q4 result on April 22; here’s what brokerages expect (21-04-2023)
ICICI Bank is slated to report its January-March quarter result on Saturday, April 22
Voda Idea soars 10% as Kumar Mangalam Birla rejoins board after two years (21-04-2023)
Birla's re-appointment on the board signals the group's commitment to the company as it continues its efforts to find an investor.
Gold sales may fall 20% on Akshay Tritiya as rising prices hit demand (21-04-2023)
Some jewellers said last year's demand was "exceptional", following a near washout in the pandemic-affected years of 2020 and 2021
Cyient surges 9%, hits 52-week high on strong Q4 results (21-04-2023)
Overall, from a macro standpoint, the business outlook remained strong with no material impact on the BUs, except for few sub-segments, analysts said.