BSE Sensex witnessed marginal surge of 12 points to 72,802 and Nifty declined marginally by 1 point to 22,121 at 9:56 am on Tuesday. stock market live Nifty Bank fell 69 points to 46,507 and Nifty Midcap jumped 202 points to 49,305 at 9:57 am today. When it comes to sectors, IT, Capital Goods, and Realty witnessed surge in morning trade. The top gainers from the pack of Sensex include UltraTech Cement, Eicher Motors, HCL Tech, Grasim, and TCS.
Earlier on February 26, the Indian equity indices settled in red with Sensex declining by 352 points and Nifty shedding 90 points amid selling in various sectors except power, capital goods, and oil & gas sector.
Shares of Canara Bank will be in focus today after the board of the PSB gave nod to sub-division/stock split of shares in the proportion of 1:5. It will imply 1 equity share of FV of Rs 10 will soon be sub-divided into 5 equity shares of Rs 2 each. Gift Nifty gained 74.50 or 0.34% and Nifty futures were trading near the level of 22,165.50.
Meawnwhile, US stocks settled with moderate losses on Monday as focus has been shifted after previous week's AI-generated surge to upcoming economic data that may impact the timing of Fed's expected interest rate cut.
Dow Jones Industrial Average declined 62.30 points, or 0.16%, to 39,069.23. The S&P 500 fell 19.27 points, or 0.38%, at 5,069.53 and the Nasdaq Composite fell 20.57 points, or 0.13%, at 15,976.25.
Asian markets remained mixed on early Tuesday. Japan's Nikkei index up 0.4%, while Kospi index down marginally.
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Feb 27, 2024, 3:38 pm IST
Top 5 Gainers and Losers Today
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Feb 27, 2024, 3:37 pm IST
Marico Declare Interim Dividend of Rs 6.50 Per Share
Marico Ltd. announced a second interim equity dividend of ₹6.50 per equity share, or ₹1 for each, for the fiscal year 2023–2024. The date of record for computing the list of shareholders eligible to receive the aforementioned interim dividend is set for Wednesday, March 6, 2024.
Feb 27, 2024, 2:32 pm IST
Philip Morris International is for the first time featured in the Dow Jones Sustainability World Index.
The Dow Jones Sustainability World Index now includes Philip Morris International (PMI) for the first time, the firm announced in a statement. One of the benchmarks used to assess how well businesses perform globally in terms of sustainability is the World Index.
Feb 27, 2024, 2:21 pm IST
IIT Delhi will host an Applied AI for Sustainable Systems facility, established by R Systems International.
The digital product engineering company R Systems International and the Indian Institute of Technology (IIT) Delhi have signed a Memorandum of Understanding (MoU) to establish a Centre of Excellence (CoE) on Applied AI for Sustainable Systems at IIT Delhi. The CoE will include a research lab, an endowed faculty chair position, and the start of merit-based student scholarships.
Feb 27, 2024, 2:12 pm IST
DCM Shriram Plans to Allocate Rs1,000 Crore Towards Downstream Products.
The business plans to invest Rs 1,000 crore in downstream products and epoxy resins.
In order to increase its captive consumption of raw materials like caustic soda and hydrochloride, DCM Shriram anticipates creating synergies with its current operations.
The board of DCM Shriram Ltd. has given its permission in principle for the company's entry into the "advanced materials" market, according to an exchange filing from the company.
Feb 27, 2024, 1:59 pm IST
1:10 Stock Split, 2.53% Yield: Tata Steel Share Gives Multi-Fold Returns In 2 Years: Should You Buy More?
Tata Group-backed flagship steelmaker, Tata Steel has been in focus amidst its UK business restructuring. Brokerages are optimistic about this Tata stock owing to its growing Indian footprint, as UK asset restructuring progresses and KPO-II expansion nears. Tata Steel's six-monthly gains are over 22% on BSE, but did you know this steel giant has given multifold returns in less than two years? Tata Steel shares have not only increased the number of shares for investors by 10 times, but their investment of Rs 1 lakh will also see a nearly 18-fold jump.
DCM Shriram Chemicals announces entry into the business of Advanced Material, including Epoxy
The Board of Directors of DCM Shriram Ltd, at their board meeting held today in New Delhi, accorded in-principle approval for the entry of its Chemicals business into the domain of “Advanced Materials” by invesƟng in Epoxy and value-added products. The company is planning to invest INR 1000 crores over the next few years to set up a greenfield state-of-the-art epoxy manufacturing plant. The epichlorohydrin (ECH) plant in Jhagadia, Gujarat is in the final stages of compleƟon and is expected to be commissioned in Q1 of 2024-25. Over 80% of ECH produced globally is used in the manufacture of Epoxy.
Feb 27, 2024, 1:34 pm IST
DCM Sriram Ltd. Declares Interim Dividend For Investors
DCM Sriram Ltd., at its meeting held on February 27, 2024, has inter-alia declared an Interim Dividend for the financial year 2023-24 on the paid-up equity share capital of the Company, @ 200% (Rs.4 per equity share of the face value of Rs.2/- each). As already intimated vide our aforesaid letter, the Record Date fixed for the said Interim Dividend shall be March 6, 2024. Further, the said Interim Dividend shall be paid/dispatched to all eligible shareholders on or before March 27, 2024. The company expects robust demand and growth potential in domestic and global markets for Epoxy and value-added materials. Synergy with our existing business for captive consumption of raw materials such as Epichlorohydrin or ECH (expected to be commissioned in Q1 of FY 2024-25) and Caustic soda.
Feb 27, 2024, 1:12 pm IST
Balaji Telefilms Allocates Share For Employee Stock Plans
The Board of Directors of Balaji Telefilms approved the allotment of 3,98,525 Equity shares of Rs. 2/- each fully paid-up, under the Balaji Telefilms ESOP 2017 adopted by the Company. Rs. 20,22,60,886/- comprising of 10,11,30,443 equity shares of Rs. 2/- each fully paid up to Rs. 20,30,57,936 comprising of 10,15,28,968 equity shares of Rs. 2/- each fully paid up.
Feb 27, 2024, 12:43 pm IST
UVDHL Declares 2:1 Stock Split
United Van Der Horst Limited has fixed Thursday, March 21, 2024, as the ‘Record Date’ to determine the eligibility of shareholders of the Company for Sub-division/Split of each fully and partly paid-up equity share having a face value of Rs.10/- (Rupees Ten Only) each be Sub-divided into 2 (Two) fully and partly equity shares having Face value of Rs.5/- (Rupees Five
Only), as approved by the shareholders through Postal Ballot on February 24, 2024.
Feb 27, 2024, 12:12 pm IST
Mahanagar Gas Acquires majority Stake In 3EV Industries Ltd.
The Agreement has been entered for acquiring 30.97% shareholding and voting rights in 3EV through equity instruments, subject to fulfilment of terms and conditions under the definitive agreements entered/ to be entered into by the Company. An Issue of 18,343 equity instruments (10 equity shares of face value of Rs.10/- each and 18,333 Series A CCPS of face value of Rs. 100/- each), for a total consideration of Rs. 96 Crore.
Feb 27, 2024, 11:24 am IST
Mr Edul Patel CEO Of Mudrex On Bitcoin
"Bitcoin hovered above the ,000 in the past 24 hours after consolidating in a tight range for the past few days. BTC crossed the ,000 barrier for the first time since November 2021 due to continued demand from the spot Bitcoin ETFs. Additionally, MicroStrategy also acquired an additional 3,000 BTC for 5 million also added to the positive sentiment in the market. The next resistance lies at the ,400 level and the ,000. On the other hand, Ethereum has also topped above ,200 level for the first time in two years with heavy institutional buying. Overall, there is a positive sentiment as bitcoin halving approaches."
Feb 27, 2024, 11:09 am IST
Zakhil Suresh, CEO Of BitSave On Bitcoin
"Bitcoin breached k levels for the first time since November 2021. The world's largest crypto asset is now up more than 200% from its previous bottom levels in November 2022 post the FTX fiasco. This rally has been primarily triggered by institutional allocation and the increased retail participation in the last few months due to Bitcoin Spot ETF applications in the US and upcoming Bitcoin halving. Even though prices started dropping immediately after 11 spot ETFs were approved by the SEC last month, owing to profit-booking by early investors, Bitcoin found support below k which also coincided with 100 Day Moving Average.
AUM of all Bitcoin spot ETFs combined have crossed 39.40 billion USD (data source coinglass). Bitcoin is now the second largest ETF commodity in the US, surpassing Silver which has .5B in AUM. Fresh inflows from institutions have helped Bitcoin maintain its bullish trend.
Important level to cross right now for Bitcoin is the k resistance to continue its uptrend going into halving. Digital asset investment products saw weekly inflows totalling US8m last week (coinshares data), marking the fourth consecutive week of inflows. Bitcoin saw US0m inflows last week, bringing year-to-date inflows to US.6bn."
Feb 27, 2024, 10:52 am IST
JSW Energy Shares In Focus As Subsidiary Wins Order From SJVN
In response to a tariff-based competitive bid proposal for the establishment of 1,500 MW of ISTS-connected solar power projects, SJVN Limited has awarded a Letter of Award (LoA) to JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, for 700 MW of ISTS-connected solar capacity. The company's total locked-in capacity grows to 11.0 GW, consisting of 1.4 GW of solar capacity, following the awarding of 700 MW capacity from SJVN Ltd. The project has 24 months from the PPA's effective date to deliver power at its whole contractual capacity.
Feb 27, 2024, 10:08 am IST
EaseMyTrip Unveils The Leap Year Travel Discounts On Bookings
EaseMyTrip.com has announced the Leap Year Travel Sale on travel bookings. This event, which is slated to take place from February 27 to March 5, 2024, is intended to provide visitors with an additional dose of excitement by offering amazing discounts on hotels, flights, bus tickets, car rentals, and holiday packages. Customers can expect discounts on flights during the Leap Year Travel Sale—up to 25% OFF, Holiday Packages Starting at INR 11,299/-; Hotels up to 50% OFF; Buses up to 15% OFF; Cabs up to 12% OFF. Customers may use the coupon code "EMTLEAP" when making bookings through the EaseMyTrip website or app to take advantage of these amazing discounts. Additionally, customers can receive extra discounts when they book using certain bank partners like the Amazon Pay Credit Card and the ICICI Bank Credit Card. The top spender throughout the sale period will have the opportunity to earn a one-time flat INR 1000 discount on Bata products. The winners will be chosen based on the amount of their transactions following the sale period. In order to take part, clients must use the promo code EMTLEAP when scheduling their travel services between February 27 and March 5, 2024. The offer is available on the EaseMyTrip website and app for both new and existing customers.
Feb 27, 2024, 9:34 am IST
Rupee falls 0.55 Paise Against US Dollar In Morning Trade
Indian rupee witnessed decline of 0.55 paise against US Dollar in morning trade on Tuesday
Feb 27, 2024, 7:24 am IST
Buy Multibagger Canara Bank, Target Price Rs 650
Leading brokerage firm Motilal Oswal has recommended buy call to public sector lender Canara Bank with target price of Rs 650 apiece. Current market price of PSU Canara Bank shares on BSE is Rs 572.80 apiece. If you buy Canara Bank shares today at last trading price of Rs 572.80 apiece, you can get potential return of 13.48%. Canara Bank shares offered investors return of 111% in last 1-year. Today Canara Bank also announced highest dividend in last 10 years in 2023.
Feb 27, 2024, 7:23 am IST
Canara Bank Shares In Focus After 1:5 Stock Split
Shares of Canara Bank will be in focus today after the board of the PSB gave nod to sub-division/stock split of shares in the proportion of 1:5. It will imply 1 equity share of FV of Rs 10 will soon be sub-divided into 5 equity shares of Rs 2 each.
The 52-week high price of leading PSB Canara Bank stock on BSE is quoted Rs 598.75 apiece and 52-week low price is quoted Rs 268.85 apiece, respectively. Canara Bank shares offered investors return of 29% year-to-date (YTD), gained 47% in last 1-year, and rallied multibagger returns of 111% in last 1-year. Canara Bank stock rose 264% in last 3-years (its maximum return in last 3-years).
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