Midcaps have begun the day on a positive note, gaining over 0.3 percent on the index. Meanwhile, strength is visible in metals and IT stocks as well.
Shares of Mphasis touched a 52-week high of Rs 1,121.90, adding 12.5 percent post company reported stellar numbers for the quarter ended March 2018.
The company registered 29 percent jump in its consolidated profit to Rs 237.67 crore in the quarter ended March 31, 2018, against Rs 184 crore in the same quarter last fiscal.
Click here To know about the Best Stock Advisory India
The revenue from operations rose by 15.8 percent to Rs 1744.48 crore versus Rs 1505.93 crore.
The company board has considered and approved the recommendation of a dividend of Rs 20 per equity share of Rs 10 each for the financial year ended March 31, 2018.
The company board has considered and approved the recommendation of a dividend of Rs 20 per equity share of Rs 10 each for the financial year ended March 31, 2018.
The market is back at the day’s high points, with Sensex gaining over 100 points, while the Nifty clocked 10,750. Midcaps have maintained their uptrend, but among sectors, PSU banks and infra names are trading in the red. Metals, IT and energy names are trading in the green. PC Jeweller has erased all of its gains and is seeing some volatility. Asian Paints, ICICI Bank, and HPCL have gained the most, while Bharti Airtel, Sun Pharma and Hero MotoCorp are among the top losers.
Shares of PC Jeweller gained more than 18 percent in the opening trade on Friday as the company board approved the proposal of share buyback.
The board of PC Jeweller Thursday approved a proposal to buy back 1.21 crore shares at Rs 350 a piece, which translates into a premium of 67 percent from Thursday’s closing price of Rs 209.
As per March quarter-end data, the promoters hold around 57.63 percent stake in the company. LIC holds about 1.93 percent. The board noted that the promoters and promoter group of the company will not participate in the proposed buy back in a statement to the exchange.
Equity benchmarks have begun the day on the right foot, with the Sensex gaining over 100 points, while the Nifty clocked 10,750 during the morning trade.
The Sensex is up 132.32 points at 35378.59, while the Nifty is up 43.30 points at 10759.80. The market breadth is positive as 518 shares advanced, against a decline of 347 shares declined, while 63 shares have remained unchanged.
Midcaps have begun the day on a positive note, gaining over 0.3 percent on the index. Meanwhile, strength is visible in metals and IT stocks as well. Asian Paints, Tata Steel, and Titan are the top gainers, while Bharti Airtel and Sun Pharma have lost the most.
Rupee opens higher: The Indian rupee gained in the early trade on Friday. It has opened higher by 16 paise at 67.15 per dollar versus 67.31 yesterday.
Market participants will be keeping an eye on industrial production number; the expectation is that the growth could be slower in March compared to the previous month. For the day, the USD-INR pair is expected to quote in the range of 67.10 and 67.60, said Motilal Oswal.
Click here to get Free Commodity Tips
Shares of PC Jeweller gained more than 18 percent in the opening trade on Friday as the company board approved the proposal of share buyback.
The board of PC Jeweller Thursday approved a proposal to buy back 1.21 crore shares at Rs 350 a piece, which translates into a premium of 67 percent from Thursday’s closing price of Rs 209.
As per March quarter-end data, the promoters hold around 57.63 percent stake in the company. LIC holds about 1.93 percent. The board noted that the promoters and promoter group of the company will not participate in the proposed buy back in a statement to the exchange.
Equity benchmarks have begun the day on the right foot, with the Sensex gaining over 100 points, while the Nifty clocked 10,750 during the morning trade.
The Sensex is up 132.32 points at 35378.59, while the Nifty is up 43.30 points at 10759.80. The market breadth is positive as 518 shares advanced, against a decline of 347 shares declined, while 63 shares have remained unchanged.
Midcaps have begun the day on a positive note, gaining over 0.3 percent on the index. Meanwhile, strength is visible in metals and IT stocks as well. Asian Paints, Tata Steel, and Titan are the top gainers, while Bharti Airtel and Sun Pharma have lost the most.
Rupee opens higher: The Indian rupee gained in the early trade on Friday. It has opened higher by 16 paise at 67.15 per dollar versus 67.31 yesterday.
Market participants will be keeping an eye on industrial production number; the expectation is that the growth could be slower in March compared to the previous month. For the day, the USD-INR pair is expected to quote in the range of 67.10 and 67.60, said Motilal Oswal.
Click here to get Free Commodity Tips
Crude Update: Oil prices on Friday dipped away from multi-year highs reached the previous session on hopes that alternative supplies could replace a looming drop in Iranian exports when US sanctions against Tehran are re-imposed.
The United States plans to re-introduce sanctions against Iran, which produces around 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 that limited Tehran's nuclear ambitions in exchange for removing US-Europe sanctions, reported Reuters.
The United States plans to re-introduce sanctions against Iran, which produces around 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 that limited Tehran's nuclear ambitions in exchange for removing US-Europe sanctions, reported Reuters.
-----------------------------------------------------------------------------------------------------------------------------
For More Information regarding Stock market news updates & Commodity Tips, Intraday Calls, Share Market Tips contact us at +91-8305596871 or simply fill our Free Trial registration form linked in this blog.
No comments:
Post a Comment