Multibagger stock set to announce bonus, dividend and buyback
Business | October 25, 2023 7:35 ISTThe increasing demand for eco-friendly packaging solutions has further driven the growth of the MSME sector and the industry as a whole.
The increasing demand for eco-friendly packaging solutions has further driven the growth of the MSME sector and the industry as a whole.
Several sectors are contributing to the upward momentum, with banking, IT, and pharmaceuticals showing positive trends in early trade. This is in line with the broader market optimism regarding the growth and profitability of these sectors.
The upcoming general elections and increased government spending on infrastructure projects are expected to further boost demand. However, fluctuating commodity prices may impact future growth.
the Nifty 50 index experienced a challenging day, trading at 19,566 points, a 0.59% decrease.
The Bank Nifty index commenced the day at 44,404.20, down slightly by 4.5 points from its previous close. Several sectoral indices showed a mixed trend at the start of trading.
Sensex, the benchmark index of the Bombay Stock Exchange (BSE), joined the upward trajectory, gaining 300 points in early trade.
According to a PTI report, the paper industry's total volume in the current financial year is expected to rise 5-7 per cent, similar to the last fiscal. The operating margin will likely remain healthy at 18 to 19 per cent.
The Ministry of Science's approval aims to create a stronger and larger entity by combining the two firms' expertise, resources, and client bases.
The market seemed to reflect a cautious yet balanced approach from investors on the first trading day of the week.
Leading Asian indices experienced notable gains, with Japan and South Korea posting increases of at least 0.8%. These positive moves have set MSCI's Asian equity index on a path toward its sixth consecutive day of gains.
According to a BSE filing, the Rights Issue Committee has approved the allotment of over 20 crore fully paid-up Rights Equity shares at a price of Rs 2.40 per Rights Equity share, including a premium of Rs 1.40 per share.
Financial services firm CLSA has released its top stock picks following the upgrade, expressing high confidence in companies such as Reliance Industries, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, Bajaj Finance, L&T, Axis Bank, ONGC, and Tata Motors.
Nifty Smallcap 250 led with a 0.82% gain, followed by Nifty Microcap 250, surging 1.06%. Notable performances included Nifty Smallcap 100 (0.79%), Nifty Midsmallcap 400 (0.74%), Nifty Midcap 100 (0.71%), and Nifty Smallcap 50 (0.65%).
The prospects of the paper industry are closely tied to various economic indicators. According to the International Project Management Association (IPMA), paper consumption in India is projected to reach 30 million tons by 2027.
Asian shares experienced a rebound from their 11-month lows on Thursday, benefitting from a decline in oil prices and softer-than-expected US labor data. These factors contributed to improved market sentiment across the region.
The BSE Sensex recorded a substantial decline of over 450 points, while the NSE Nifty dipped below the 19,400 mark.
The conglomerate led by mining magnate Anil Agarwal unveiled a substantial business restructuring plan on Friday. As part of this strategic move, Vedanta's flagship company has given the green light to spin off its metals, power, aluminum, and oil and gas businesses into separate listed entities.
At the opening bell, the Sensex stood at 65,511, while the broader Nifty index was at 19,537. This downward trend in the stock market reflects cautious sentiment among investors.
The trading session was marked by volatility associated with the expiry of futures and options (F&O) contracts, as well as the influence of weakened global cues.
The Nifty 50 concluded the day at 19,728.25, gaining 63.55 points or 0.32 per cent, while the BSE Sensex, a 30-share benchmark, surged by 173 points or 0.26 per cent to close at 66,118.69.
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