MRF breaches ₹50,000-crore market cap
[ad_1] Shares of MRF Ltd on Friday breached the ₹50,000-crore market cap on Friday as they were on a roll in the last few months. The stock closed at ₹1,17.916.10 on the BSE, up 0.41 per cent, over previous day’s close ₹1,17,430.80. Today’s gain pushed the market-cap to ₹50,009.90 crore. MRF hit a 52-week high […]
Stock to buy today: JSW Energy (₹458.20) – BUY
[ad_1] The short-term outlook is bullish for JSW Energy. The stock price has surged over 7 per cent so far this week. Immediate resistance is at ₹464. But the strength of the price action on the charts keeps the chances high for the stock to breach this hurdle. Moving average cross over on the daily […]
Lord’s Mark Industries to raise $500 cr via IPO
[ad_1] Lord’s Mark Industries, a diversified business group, plans public listing in the first half of 2024 to raise Rs 500 crore. The company will invest the proceeds in its subsidiaries to develop medtech products and diagnostic solutions, grow its pathology lab services pan-India, and export medical diagnostic products and machines. Sachidanand Upadhyay, Managing Director, […]
Broker’s call: JSW Infra (Buy)
[ad_1] Target: ₹255 CMP: ₹238.95 JSW Infrastructure (JSWIL) in its filing has announced the acquisition of a majority stake (50 per cent equity plus 1 share) in PNP Port Maritime Service Pvt Lt d (PNPL) from Shapoorji Pallonji Group for a cash consideration of ₹270 crore (enterprise value of ₹700 crore, 16.7xFY23 EV/EBITDA as per […]
Cupid share price inches up following land acquisition in Mumbai
[ad_1] Cupid Limited has acquired a land parcel in an industrial area near Mumbai to expand its production capacity by 1.5 times the existing output. The capacity expansion will be funded entirely through internal accruals, with no reliance on borrowings. Managing Director Aditya Halwasiya said, “This expansion is expected to add ₹240 crore to our […]
Ambuja Cements increases Sanghi Indus’ open offer price
[ad_1] Gautam Adani-led Ambuja Cements has increased the open offer price for Sanghi Industries to ₹121.90 a share from ₹114.22 as the company completed the deal to acquire shares from the erstwhile promoters. Ambuja Cements had acquired 14 crore equity shares of Sanghi Industries, representing 54.51 per cent equity at ₹121.90 per equity share from […]
Motilal Oswal targets to mop-up ₹1,200 cr via small-cap NFO
[ad_1] Motilal Oswal Asset Management Company aims to raise ₹1,000- 1,200 crore through the new small-cap fund offering to be launched on Tuesday. This will be the first NFO of an actively managed fund to be launched by the fund house in the last four years. Small-cap funds have received a net inflow of ₹5,000 […]
secures contract worth over ₹378 cr; shares rise
[ad_1] J Kumar Infraprojects has secured contract from Mumbai Metropolitan Region Development Authority (MMRDA) worth over ₹378 crore for design and construction of flyover (missing links) from Link Road, Andheri (West) to Poonam Nagar (JVLR) adjacent to the alignment of Metro Line – 6 of Mumbai Metro Rail Project. According to company’s stock exchange filing, […]
Markets poised for gains as poll results hint at political stability
[ad_1] Indian equities may be poised for further gains following a strong mandate for the ruling party at the Centre in three out of the five State poll results. Political stability augurs well for reforms and could boost investor confidence. “The outcome of State elections hints at continued uprun in markets,” said Dhiraj Relli, MD […]
Technical Call: Granules India – BUY
[ad_1] Investors with a minimum time frame of one year can buy the shares of Granules India (₹392.70). The stock surged over 20 per cent last month. This has taken the share price well above the key resistance level of ₹360. It also marks the end of the shallow downtrend since December 2020. The moving […]