Shenu Agarwal has been named chief executive officer of Ashok Leyland for five years, starting today.
Agarwal joins Ashok Leyland from Escorts Kubota, where he was President.
Source: Exchange filing
Shares of Shakti Pumps India gained as much as 3.34% after it incorporated unit for electric vehicle business.
The stock went up as much as 3.34%, the most this week.
Its unit, Shakti Green Industries is engaged in manufacturing, trade, buy and sale of electric vehicle motors, charging stations, electric control panels, variable frequency drives, IoT based electric control panel and controllers.
Source: Bloomberg, Exchange filing
Company says that they have submitted a resolution plan in the insolvency process of Karaikal Port Pvt.
Adani Ports clarified that the said process is underway, and no conclusion has been reached yet.
Once the successful bidder is announced, the plan will be subject to approval from the National Company Law Tribunal.
Source: Exchanges
The broader indices outperformed their larger peers, with the mid-cap and small-cap gauges losing 0.23% and 0.31%, respectively.
Twelve of the 20 sectoral indices compiled by BSE advanced with S&P BSE Capital Goods gaining the most than 0.78%.
The market breadth is skewed in favour of the bulls. About 1,902 stocks rose, 1,448 fell and 143 stocks remained unchanged.
Source: Bloomberg, Exchanges
Uday Kotak, MD and CEO of Kotak Mahindra Bank
First goal for India is to be part of the top 3 economies.
We need to look at per capita GDP of 10,000 dollars.
Shares of Dharmaj Crop Guard listed at Rs 266 per share on the BSE, a premium of 12.24% to its IPO price of Rs 237.
On the NSE, the stock listed at Rs 266.05, a 12.26% premium.
Its IPO was subscribed 35.49 times.
Source: BSE, NSE
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The broader indices outperformed their larger peers, with the mid-cap and small-cap gauges losing 0.30% and 0.39%, respectively.
Sixteen of the 20 sectoral indices compiled by BSE advanced with S&P BSE Oil and Gas and S&P BSE Commodities gaining more than 0.4%.
The market breadth is skewed in favour of the bulls. About 1,704 stocks rose, 786 fell and 121 stocks remained unchanged.
Source: Bloomberg, Exchanges
Yield on the 10-year bond fell 3bps to 7.24% in early trade.
Source: Bloomberg
The rupee gained 19 paise to open at 82.29 on Thursday, against the greenback.
The local currency closed at 82.48 on Wednesday.
Source: Bloomberg
"Even while reaffirming that 'the Indian economy is doing well in a world of slowing growth and inflation fears' RBI Governor Saktikanta Das indicated that 'the global spillovers are slowing down India’s economic momentum'. In this context the sharp dip in Brent crude below $78 has come as a shot in the arm of the economy. This has the potential to act as a fiscal stimulus for the economy while the monetary policy is tightening. Next week will be significant for global equity markets since we will have the US inflation print and the FOMC meet. The market is likely to consolidate around the current levels till then. The PSU banking space, particularly the leading names, is likely to continue to remain resilient. Capital goods stocks are showing strength."Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
After receiving a positive response for its initial public offering (IPO), the agrochemical company Dharmaj Crop Guard Limited is set to list on the bourses on Thursday.
As of the last day of subscription (November 30, 2022), the Dharmaj Crop Guard IPO was subscribed 35.49 times. The IPO included a fresh issue of equity shares worth ₹216 Crore and an offer for sale (OFS) of 14,83,000 equity shares.
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