KFC, Pizza Hut operator Sapphire Foods’ board approves stock split of 1 share into 5
KFC, Pizza Hut operator Sapphire Foods announced that its board members has approved the split of existing equity shares of the company from 1 equity share to 5 equity shares.
In a regulatory filing, Sapphire Foods said that the meeting of board of directors on Wednesday approved that the shares of the company from 1 equity share having face value of Rs 10 each fully paid up, will be split into 5 equity shares having face value of Rs 2 each fully paid-up.
It also announced the alteration of Capital Clause (Clause V) of the Memorandum of Association of the Company (MoA) on account of sub-division of equity shares.
Interarch Building Products makes stellar debut, lists at Rs 1,299 on NSE Ambuja Cements shares surge 4% after promoter sells 3% stake via block d…
Markets correct, global concerns spark selloff; Nifty below 19450
The correction continues for the second consecutive day in the market. The Nifty slipped below 19,450 and the Sensex too declined 286 points. The broader market was down more than 1%. Selling was seen across the sector, except for FMCG & IT. Most market observers believe that the withdrawal of funds as a result of the dollar rally is a primary trigger for this selloff. India’s vulnerability to global concerns is a primary worry.
Shrikant Chouhan, Head of Research (Retail), Kotak Securities, “Despite our strong macroeconomic growth performance, India is not insulated from global problems, and hence any correction in global markets due to worries over further rate hikes would have a rub-off effect here. However, the Nifty has formed a Dragonfly Doji candlestick for…
Mazagon Dock Shipyard up 4.5% after wiping off 1-month gains in 21 session
Shares of Mazagon Dock Shipbuilders rose 6% to an intraday high of Rs 4,560 from its previous close of Rs 4,299.55. The surge in stock price came a day after it fell 9.4%, intraday. Also, the stock was down for the whole week, wiping off investors’ gains in the last five trading days.
Earlier, the brokerage house ICICI Securities in a research report gave a 77% downside from its current market price, which it took as Rs 4,999 for the shipbuilder stock. The brokerage house maintained its “ Sell” rating on the stock saying that it is overvalued at the current market price.
“Despite factoring in the potential orders of P75 (three additional submarines), P75I and next-gen destroyers, and margins at an elevated level in the near term, we believe th…
LIC gets nod from RBI to raise HDFC Bank stake to 9.99%
HDFC Bank announced on Thursday that the Reserve Bank of India (RBI) has granted approval for the Life Insurance Corp. of India (LIC) to acquire an additional 4.8% stake in the country’s largest private sector lender. LIC currently holds a 5.19% stake in HDFC Bank.
According to a stock exchange filing by HDFC Bank, the RBI has advised LIC to complete the acquisition of the additional HDFC Bank shares within a year. However, LIC must ensure that its overall holding in the bank does not exceed 9.99% of the paid-up share capital or voting rights of the bank at any given time.
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Railway stocks dip post-Budget announcement as railway expenditure less than market estimate; should you invest now-
Railway-linked stocks, including IRFC, Rail Vikas Nigam (RVNL), Railtel, and others, witnessed a dip in their stock prices following Finance Minister Nirmala Sitharaman’s conclusion of her interim Budget speech in the Lok Sabha on Thursday.
Shares of IRFC, RVNL, Railtel, and other related stocks are grappling with losses ranging between 3% and 5% post budget speech.
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Despite the market’s anticipation, the Budget allocated a capital expenditure (capex) of ₹2.55 lakh crore for the Indian Railways. While this figure is marginally higher than the ₹2.4 lakh crore announced in the previous year’s Budget, brokerages had anticipated a more substantial increase in r…
Prosus does not reveal its cards on Swiggy stake
Technology investor Prosus in a post-earnings call on Monday, declined to reveal whether it plans to sell a part of its 32.6% stake in food tech unicorn Swiggy’s $1.2-billion initial public offering (IPO).
“Swiggy is an important part of our portfolio and we are a big believer in SwiggyCome from Sports betting site. We can’t comment on if we are going to sell in the IPO or not. We really like the business and we hope we can help the business’ performance,” a senior executive of Prosus said.
Prosus’ large shareholding in the food tech firm means that it is likely to be tagged as a promoter and would be put under several restrictions with regards to how and…
Rupee likely to be ranged with a bullish bias
By Dilip Parmar
The Indian rupee registered the first weekly gain in four after the announcement of India’s sovereign bonds inclusion in the JP global bond index and crude oil retreated which rallied more than 40% from the May low. The local currency was the top performer among the Asian currencies, marking gains of 0.3% to 82.94 a US dollar. The outperformance in the local unit may not last long as inflows will knock the market next year and in a staggered manner. While on the other side, the greenback remained in demand against major currencies after a so-called hawkish signal from the Fed in a recent policy meeting.
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Techland Outlines Dyling Light 2 Bug Fixes And Updates In The Works
Despite a day one patch that brought more than 1,000 bug fixes to Dying Light 2: Stay Human, developer Techland is now detailing that many, many more bug fixes are on the way. Come from Sports betting site VPbet
The developer took to Twitter to break down some of the updates and bug fixes players can expect on each platform, with many of the bug fixes outlined ready for implementation. Most critical among these updates are fixes that will address various instances of the game crashing across all platforms, infinitely long black screens on all platforms, online connection stability on consoles, and more.
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NBA 2K23 Release Date Revealed, First Cover Star Is Michael Jordan
Iconic basketball player and legendary athlete Michael Jordan will be featured on the cover of NBA 2K23’s Michael Jordan Edition and Championship Edition, 2K Sports has announced. The game’s release date, September 9, was also confirmed in the announcements today.
Jordan is a 14-time NBA all-star, a five-time MVP, and six-time champion. He was inducted to the NBA Hall of Fame in 2009. This is the fourth time Jordan is on the cover of an NBA 2K game, following NBA 2K11, NBA 2K12, and NBA 2K16 Special Edition.
2K Sports also revealed that NBA 2K23 will feature a “completely rebuilt” version of NBA 2K11’s Jordan Challenges that had players trying to virtually recreate Jordan’s real-life feats. One of these was a challenge to score at least 38 points and grab 7+ rebounds like Jo…
Danish Land-Based Betting Decline Coincides with New Regulatory Measure
Following the new legislation introduced on 1 October 2023, the spending of the land-based betting market in Denmark decreased in October and November 2023 when compared to the same period of 2022. The new measure requiring players to identify themselves using a so-called Player ID when placing bets with land-based wagering facilities in Denmark coincides with the decline.
Player ID Requirement:
As reported, Player ID requirement became mandatory for all retail betting operators. Since 1 October 2023, all players have been obliged to link their Player IDs with the respective accounts held with Danish operators. According to the source, the measure aims to enhance customer protection and ensure that juvenile persons do not get involved in the betting activities. But the bet…