Novelis IPO, Coal India’s new subsidiary

                

Market ka Capsule

Novelis IPO, Coal India’s new Subsidiary, & more

Tuesday, 28-May-2024

Sensex 75,170.45 ⏷ 0.29%  Nifty 22,888.15 ⏷ 0.19%

Pointers:

• Nifty 50 opened higher than yesterday's closing point but fell after that.
• The Reatly stocks rose the most. Pharma stocks fell the most.
• The US markets were closed, European markets, and Asian Markets closed in the red.

    

TOP GAINERS:     (Nifty 50)

Divi’s Lab                Rs. 4,392.10 ▲ 3.22%

SBI Life.                 Rs. 1,450.75 ▲ 2.88%

 

HDFC Life              Rs. 578.45 ▲ 2.52%

Grasim.                  Rs. 2,440.35 ▲ 2.08%

Hero Moto Corp     Rs. 5,183.95 ▲ 1.97%

TOP LOSERS:        (Nifty 50)

Adani Ports.           Rs. 1,400.50 ⏷ 2.18%

Power Grid Corp    Rs. 312.80 ⏷ 1.62%

BPCL                      Rs. 646.50 ⏷ 1.46%

Coal India               Rs. 487.65 ⏷ 1.38%

Adani Enterprises   Rs. 3,244.05 ⏷ 1.37%

News:

• Air ticket prices rose by 9% year on year in the Jan-March quarter. Premium class bookings rose by 20% FCM Travel.

Stock Updates:

• TCS: the company has collaborated with IIT Bombay to develop India’s first quantum diamond microchip imager. It will help improve the performance of electronic devices.
• IOCL: it has signed MoU with the Indian Army to supply renewable-fuel transport solutions to the army.
• 3M India: reported a net profit increase of 27% to Rs. 173.83 crores for the Jan-Mar quarter. The company announced a final dividend of Rs. 160 and a special dividend of Rs. 525 for the Jan-March quarter. Record date: 5 July.
• RITES: reported a net profit decrease of 1.59% to Rs. 136.67 crores for the Jan-Mar quarter. Dividend of Rs. 5 per share.
• Power Grid: commissioned its new transmission project for Reliance’s Jamnagar Oil Refinery in Gujarat.
• Poonawalla Fincorp: it has partnered with IndusInd Bank to launch a co-branded credit card.
• Coal India: formed a joint venture company with BHEL - Bharat Coal Gasification and Chemicals - to undertake its coal-to-chemical business.
• Adani Enterprises: it will raise rs. 16,600 crores by QIP or other ways in multiple other ways.

IPOs News:

• Novelis, owned by India’s Hindalco Industries, has filed for an IPO in the US. The company is targeting a valuation of up to $12.6 billion.

1-Day Change

Gold             72,084.00 ▲ 0.54%

Silver             94,670.00 ▲ 1.60%

Dow Jones    39,908.00 

Nasdaq         16,742.39 

Long-Term Returns

Last 20 Years

Sensex               ▲ 14.70% p.a.

Nifty                  ▲ 14.56% p.a.

Dow Jones           ▲ 7.16% p.a.

Nasdaq               ▲ 11.48%  p.a.