Daily Archives: April 26, 2024
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NSE cuts Nifty lot size to 25 from Friday
The revised derivative market lot of Nifty 50 will take effect from Friday. Earlier this month, the National Stock Exchange (NSE) announced a revision in lot size from 50 to 25 for Nifty50. The bourse had also reduced the market lot of Nifty Financial Services to 25 from 50 and Nifty Midcap Select to 50 from 75, but the changes will take effect from July expiries.
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Stocks that will see action today (April 26)
Tata Steel will invest £1.25 billion to build a modern electric arc furnace in Port Talbot and commence closure of the existing heavy-end assets in the following months. A Voluntary Redundancy Aspiration process will be launched across Tata Steel UK from May 15. The move follows seven months of formal and informal national-level discussions with UK trade unions, Tata Steel said in a statement.
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Market to remain positive despite confused global signals
The beginning of a fresh series (July introduction today at the NSE derivative segment) will see domestic markets opening flat on Monday.
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Sensex, Nifty rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%
Equity benchmark indices climbed in early trade on Friday, extending their rally for the sixth day running, on heavy buying in Tech Mahindra and firm trends in Asian markets.
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Kirloskar Pneumatic Company’s shares surge 12.10% on stronger revenue, profit in FY24
Kirloskar Pneumatic Company Ltd’s shares surged 12.10 per cent after the company announced its financial results for FY24, reporting a 7 per cent growth in revenue and a 25 per cent growth in profit before tax as compared with the earnings in FY23. The company’s net profit after tax has increased by over 23 per cent. KPCL declared a final dividend of 200 per cent at ₹4 per share, in addition to the interim dividend of 125 per cent, bringing the total dividend to ₹6.50 per share (325 per cent).
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Inox Wind board approves 3:1 bonus share issue
Inox Wind (IWL) on Thursday announced that its Board of Directors has proposed the issuance of bonus shares of 3:1 (three bonus equity shares for every one existing equity share) out of the company’s accumulated reserves.
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Markets extend gains for 5th session; Sensex revisits 74k
Rising for the fifth straight session, equity benchmark Sensex rallied nearly 500 points to reclaim the 74,000 mark while the Nifty closed above the 22,550 level on Thursday, driven by heavy buying in banking, financial and metal stocks.
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Axis Bank shares climb 6% post earnings announcement
Shares of Axis Bank on Thursday climbed 6 per cent after the company reported a consolidated net profit of ₹7,599 crore during the March 2024 quarter.
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Broker’s call: MCX (Sell)
Target: ₹3,435
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Broker’s call: Equitas SFB (Buy)
Target: ₹111