Shares of HDFC twins were in the limelight on Monday and ended in the positive territory, the first day of trading after the merger, amid an overall bullish equity market trend.
The stock of HDFC climbed 1.76 per cent to settle at Rs 2,871.20 on the BSE. During the day, it jumped 3.70 per cent to its 52-week high of Rs 2,926.
Shares of HDFC Bank went up by 1.05 per cent to end at Rs 1,719.55. In intra-day trade, it advanced 3.29 per cent to Rs 1,757.80 — its 52-week high.
The combined market valuation of HDFC and HDFC Bank stood at Rs 14,93,119.33 crore on the BSE.
Housing finance major HDFC merged with its subsidiary HDFC Bank on Saturday.
Rally in HDFC twins were significant in adding to the positive momentum in the equity market.
Rallying for the fourth straight session, the 30-share BSE Sensex jumped 486.49 points or 0.75 per cent to settle at its all-time closing high of 65,205.05. During the day, it rallied 581.79 points or 0.89 per cent to its lifetime intra-day high of .
Posts in category Business Standard
HDFC twins hog limelight, settle in positive territory post-merger (03-07-2023)
GIFT Nifty begins India journey as new hedging option for investors (03-07-2023)
Investors who were taking cues on the movement of the NSE’s blue-chip Nifty 50 index ahead of its opening from the SGX Nifty will now do so with GIFT Nifty
Jewellery retail major Senco IPO price band at Rs 301-317 per share (03-07-2023)
Jewellery retail major Senco Gold Ltd has fixed a price band of Rs 301 to Rs 317 for its Rs 405 crore initial public offering (IPO), which will open for public subscription on July 4, the company said on Monday.
The initial share sale will conclude on July 6 and the bidding for anchor investors will open on July 3, according to the Red Herring Prospectus.
The bids have to be made for a minimum of 47 shares of Rs 10 each and multiples thereof.
The Senco IPO comprises a fresh issue of equity shares aggregating up to Rs 270 crore and an offer-for-sale of equity shares to the tune of Rs 135 crore by selling shareholder SAIF Partners India IV Ltd, the RHP said.
At present, SAIF Partners has 19.23 per cent stake in the jewellery retail chain. It will be offloading its stake by 8-9 per cent in this issue, Senco managing director and CEO Suvankar Sen said.
Another PE fund sponsored by the Oman Investment Authority and State Bank of India which has invested Rs 75 crore in the Kolkata-base
Karnataka govt forms SIT to probe Bitcoin scam surfaced during BJP regime (03-07-2023)
Karnataka Home Minister G Parameshwara on Monday said a Special Investigation Team (SIT) under the Criminal Investigation Department (CID) has been formed to reinvestigate the Bitcoin scam.
The Bitcoin scam had surfaced during the previous BJP regime in 2021 and the Congress, which was then in Opposition, had accused the government of trying to cover up the scandal as it involves big names.
The prime suspect, Srikrishna Ramesh alias Sriki, was accused of hacking the state government’s e-procurement website and siphoning over Rs 11.5 crore.
There were also charges of cryptocurrency theft, drug peddling and cyber fraud relating to the case.
The Home Minister said Additional Director General of Police Manish Kharbikar will head the SIT which, he added, can also take the help of technical experts since the matter relates to cyber crime.
Before the Assembly elections in May, the Congress had promised the people of Karnataka that if it comes to power, it would reinvestigate the Bitcoin
Nifty PSU Bank index surges nearly 4%; Canara, BoB, BoI, PNB rally up to 7% (03-07-2023)
In the past two trading days, the Nifty PSU Bank index has rallied 6 per cent
BSE board to consider buyback of shares on July 6, stock surges 7% (03-07-2023)
Leading stock exchange BSE on Monday announced that its board will meet on July 6 to consider a proposal on the buyback of shares.
Following the announcement, shares of BSE rose 7 per cent in intra-day trade to Rs 651.65 apiece on the National Stock Exchange (NSE).
In a regulatory filing to the NSE, Asia’s oldest bourse said, “meeting of the board of directors is scheduled to be held on Thursday, July 6, 2023, to inter alia, consider and approve proposal for Buy back of fully paid equity shares of the company”.
Under a share buyback or repurchase, a firm buys back its own shares from investors or shareholders. The purpose of the buyback is price stability and ensuring investor confidence in the stock.
Earlier in 2018, BSE repurchased over 20 lakh shares for nearly Rs 166 crore under its buyback programme.
OMCs rally up to 7% on improved outlook; HPCL, IOC scale 52-week highs (03-07-2023)
In the past one-year, shares of OMCs have risen between 18 per cent and 28 per cent on the back of a fall in crude oil prices. Brent crude prices have corrected 20 per cent in the past one year
CoinDCX partners with KoinX to allow crypto tax tracking on its platform (03-07-2023)
CoinDCX also said that it anticipates a ‘significant’ number of users benefiting from KoinX’s tax assistance services
Mcap of BSE-listed firms at record high of Rs 297.94 trn; Sensex at peak (03-07-2023)
The market capitalisation of BSE-listed firms reached a record high of Rs 297.94 lakh crore in early trade on Monday as the benchmark Sensex hit the 65,000 mark for the first time ever amid bullish investor sentiments.
The BSE benchmark jumped 514.08 points to hit its record high of 65,232.64 in early trade. The benchmark has been rallying for the fourth straight trading session on Monday.
Thanks to the ongoing rally in equities, the market capitalisation (mcap) of BSE-listed companies jumped to Rs 2,97,94,780.47 crore in early trade.
On Friday, the market capitalisation of BSE-listed firms touched an all-time high of Rs 296.48 lakh crore.
From the Sensex pack, HDFC, HDFC Bank, UltraTech Cement, Tata Steel, Bajaj Finance, ICICI Bank, Mahindra & Mahindra, State Bank of India, Reliance Industries and Bajaj Finserv were the major gainers.
Power Grid, Maruti, Larsen & Toubro, Tech Mahindra, Axis Bank, Hindustan Unilever and Asian Paints were among the laggards.
In Asian markets, ..
UltraTech Cement hits record high; gains 2% on strong sales volume in Q1 (03-07-2023)
UltraTech’s consolidated sales volume rose 19.6 per cent YoY at 29.96 mt, where domestic grey/white cement sales volume grew by ~20 per cent/11 per cent YoY, respectively.