Market has opened on a positive note.
Market has shrugged off a lacklustre global cues but a better monsoon outlook from IMD provided relief to investors who became nervous after Skymet's below average rainfall forecast this year. The Street is also building hopes of further rate cuts to reverse the economic slowdown.
Nifty forms bullish candle to end at a record closing high and now it is interesting to see whether this can lead the rally to cast out it beyond 12000 level or not.
🎯 News & Impact 🎯
Major Results Today :
Reliance Industries
🎯 Jet Airways :
Suspended operations after it failed to secure a bailout.
Negative for the stock.
🎯 Wipro :
Company to buyback 32.31 crore shares, or 5.35 percent equity at a price of Rs.325 per share aggregating to Rs.10,500 crore.
🎯 Cipla :
Company's South African arm signed an agreement to acquire 30 percent stake in Brandmed for ZAR 65 million and milestone payment to be paid over a period of three years. Deal is expected to close by May 31.
🎯 Reliance :
Mitsui O.S.K. Lines Ltd. to acquire strategic stake in six group companies (each owning a Very Large Ethane Carrier) of the company.
🎯 HT Media :
Company increased its stake to 51 % in Next Media Works, by holding 3.41 crore shares in the target company.
🎯 Hindalco :
Subsidiary Novelis to supply aluminum sheets for Toyota RAV4.
🎯 Ashoka Builcon :
Company received an order worth Rs. 443.23 crore from RVNL with a completion period of 36 months.
🎯 Quess Corp :
Company’s subsidiary CBSL to acquire Allsec Technologies.
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