Stock Markets

HUL jumps to 52-week high after Unilever makes open offer to raise stake

HUL jumps to 52-week high after Unilever makes open offer to raise stake

The Hindustan Unilever Ltd (HUL) stock jumped to a 52-week high of Rs 594 in opening trade on Tuesday after its Anglo-Dutch parent firm Unilever Plc made an open offer to increase its stake in the Indian division.

Unilever made an open offer to increase its stake holding in HUL by 22.52 per cent to 75 per cent.

The offered price of Rs 600 per share represented a premium of 20.5 per cent over HUL stock's closing price on Monday. The Anglo-Dutch group has plans to buy up to 48.3 crore shares. The offer worth Rs 29,190 crore valued the stock at 33.3 x FY14 earnings.

Shares Plunge for Tata Steel

Shares Plunge for Tata Steel

Even after putting a good performance in fourth quarter of last year, Tata steel has again witnessed a plunge. After coming across 52- week low, shares of Tata Steel Ltd (TSL) have again plummeted.

After a 52- week low on the NSE, Tata industry is facing problems because of the European operations. This seems to have impacted the financial results. Not only in the fourth quarter but also if seen on the annual basis, Tata Steel's consolidated financial performance has been good. This shows that production and sales numbers has not been the reason.

TCS Witnesses Rise, Wipro and Infosys shares declined on Sensex

TCS Witnesses Rise, Wipro and Infosys shares declined on Sensex

Looking at the Sensex scenario for today's trade, it can be said that it had a mixed day. It has been said so at one place where Tata Consultancy Services witnessed a rise of 1%.

On the other hand, two other major IT companies Wipro and Infosys witnessed a decline in their shares. To start with Tata Consultancy Services, it has been found that it is going to buy Alti SA for 75 million Euros.

Wipro Wants to Focus on IT Business

Wipro Wants to Focus on IT Business

Wipro has not performed well on Bombay Stock Exchange (BSE). Its shares have been found to have dropped by 11.43% amounting to Rs 397.20.

Experts have been saying that the decline is the result of transfer of its non-IT businesses to Wipro Enterprises. The latter company is a separate but unlisted company of Wipro. Therefore, there are chances that the decline could have taken place due to same.

Sensex Trades Flat, May Decrease Further

Sensex Trades Flat, May Decrease Further

Amidst lowdown in the market, speculations are rife that Sensex would further dip. At present, the sensitive index is at 18452.38 that is the lowest after 21 November, 2011.

According to A. K. Prabhakar, Senior Vice President at Brokerage, AnandRathi, Sensex could get better considering the oversold market, however, overall trading would remain flat in the near future. He added that pressure created by Fibonacci levels is also responsible.

SEBI Chief U.K. Sinha Raises Concerns over Grey Market Investments

SEBI Chief U.K. Sinha Raises Concerns over Grey Market Investments

SEBI chief U. K. Sinha expressed serious concerns over grey market investments with thousands of crore being raised through illegal means. Sinha said this at a seminar on investment outlook for 2013 organized by the Indian Merchants Chamber on Monday.

He described a famous instance of a company, claiming to refund more than Rs 20,000 crore in the last three to four months to their investors. However, the company was returned 90% of the money in cash, which has put challenges for the government to have strict regulations to tackle grey market investments.

US Currency Strengthens as Rupee Dips by another 11 Paise

US Currency Strengthens as Rupee Dips by another 11 Paise

Losing about 11 paise against the US dollar, Rupee opened at 54.37 against it today morning. It closed at 54.26 against dollar on Tuesday.

The plunge in Indian currency has given strength to the US dollar across the world. It has put pressure on rupee while the fall is considered to have occurred since US dollar rose against Euro and Yen. The results were revealed in the Interbank Foreign Exchange.

RComm shares gain over 16% after telecom deal

RComm shares gain over 16% after telecom deal

After gaining more than 10 per cent on Tuesday, stock in Reliance Communications (RComm) gained again nearly 6 per cent in the early morning trade today (Wednesday), thanks to a telecom deal with Reliance Jio Infocomm.

On Tuesday, Anil Ambani's Reliance Communications announced that it had hit a fibre optic network sharing deal with Reliance Jio Infocomm, a unit of Mukesh Ambani's Reliance Industries Ltd (RIL).

The announcement encouraged investors as the investors as well as industry experts are seeing the deal as benefiting for both companies.

Smelter closure drags Sterlite shares down

Smelter closure drags Sterlite shares down

Stock in Sterlite Industries (India) took a steep plunge on Monday following the closure of the company's copper smelter in Tuticorin, Tamil Nadu.

Sterlite closed the copper smelter after a preliminary inspection by Tamil Nadu Pollution Control Board.

The stock slipped 5 per cent to Rs 89.50 a share on the National Stock Exchange (NSE) as of 09.15 A. M., against a 0.5 per cent fall in the broader Bombay Stock Exchange (BSE) Metal index.

Sensex Closes at 0.70% Rise on Back of Fag-End Buying

Sensex Closes at 0.70% Rise on Back of Fag-End Buying

As per the revelations of a new report, the BSE benchmark Sensex closed at 131 points higher today on fag-end buying by funds, particularly in consumer durables, capital goods, metal goods and PSU as well as banking stocks in the midst of the monthly derivatives contract.

It was following a falling over 136 points in the early trade that the Sensex rebounded on fag-end buying's back in heavy-weight stocks. The 30-share index went close at 18,835.77, which meant an increase of 0.70% or 131.24 points.