Sensex, Nifty finish higher on foreign fund inflows; log 8th day of rally
Business | May 02, 2023 19:07 ISTRallying for the eighth straight day, the 30-share BSE Sensex climbed 242.27 points or 0.40 per cent to settle at 61,354.71.
Rallying for the eighth straight day, the 30-share BSE Sensex climbed 242.27 points or 0.40 per cent to settle at 61,354.71.
Trading in Apollo Micro Systems shares was halted after the aerospace and defence stock hit the upper circuit of 5 per cent at Rs 328.75 on BSE.
Rallying for the fifth straight session, the 30-share BSE Sensex jumped 463.06 points or 0.76 per cent to settle at 61,112.44. During the day, it surged 560.08 points or 0.92 per cent to 61,209.46.
The 30-share BSE Sensex climbed 169.87 points or 0.28 per cent to settle at 60,300.58. During the day, it jumped 232.08 points or 0.38 per cent to 60,362.79. The broader NSE Nifty advanced 44.35 points or 0.25 per cent to end at 17,813.60.
During intra-day, it hit a high of 60,101.64 and a low of 59,620.11. As many as 23 stocks in the index ended in the green and seven in the red. The broader NSE Nifty gained 119.35 points or 0.68 per cent to close at 17,743.40.
Stock Market: In a volatile trade, the 30-share BSE Sensex edged up 22.71 points or 0.04 per cent to settle at 59,655.06.
The broader Nifty dipped 41.40 points or 0.23 per cent to settle at 17,618.75 with 31 of its shares closing with losses.
UltraTech Cement, Titan, Reliance Industries, Bajaj Finance, Mahindra & Mahindra, ICICI Bank, Tata Consultancy Services, Tech Mahindra, ITC and HDFC Bank were among the major laggards.
The split announcement comes within a year of bonus issue. The company in July last year declared 1:2 bonus for its shareholders. It means that each shareholder were given 1 bonus share for every two shares held by them.
The new face value of each share will be Re 1 after the split takes effect. Also, the market price of each share will also be adjusted in the split ratio.
Balu Forge is setting up a manufacturing facility in Belagavi town of Karnataka to increase production. During the Q3FY23, the company's net profit jumped by 38 per cent increase to Rs 11.45 crore YoY.
After gaining 375 points in the early trade, the BSE Sensex could not hold to gains and declined 897.28 points or 1.52 per cent to settle at 58,237.85 as 29 of its constituents declined while only one advanced.
The company informed exchanges that it has paid back Rs 30 million. The total amount of bank debt has now been reduced to Rs 843 million and the overall bank-debt to Rs 857 million.
When a company announces a Rights Issue, it issues additional shares to the existing shareholders at a special price in proportion to their holding.
Sensex on Wednesday witnessed a three-week low as it plunged by 927 points to settle at 59744.98 while Nifty settled at a four month low below 176,00. The figures are a reflection of weak global trends.
The public issue comprises 2,328,000 equity shares. The company aims to raise Rs 23.74 crore, according to a circular uploaded on BSE's website.
The price range for the offer has been set at Rs 96 to Rs 102 per share. The company's IPO comprises 2,328,000 equity shares with a face value of Rs 10.
The company had last month approved the sub-division of shares in a ratio of 10:1. It means that IRB Infra will split its one equity share into 10 equity shares.
Union budget 2023: Sharemarket reacted positively soon after Finance Minister Nirmala Sitharaman presented her 5th budget in the Parliament prompting a jump of over 1200 points in the Sensex.
The Delhi-based company seeks to raise Rs 100 crore through the issuance of equity shares and other convertible securities, warrants, bonds, FPO.
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