Stock Market Today: Dalal Street appeared to be off to a good start on Thursday as the GIFT Nifty on the NSE IX trading higher by 69.5 points, or 0.31 percent, at 22,594. After a tumultuous session on Wednesday, the Nifty 50 witnessed profit booking due to a combination of global market factors. Volatility was increased by rollover of positions to the May derivative series prior to the April series expiration. Thursday saw a rise in Tokyo markets following mixed Wall Street action that saw US tech companies increase. While the larger Topix index gained 0.90 percent, or 24.31 points, to 2,730.82, the benchmark Nikkei 225 index was up 1.24 percent, or 489.25 points, at 39,941.10 in early trade.
Stock Market Today: Stocks in focus
The telecom services provider said on Wednesday in an exchange filing that its shareholders had approved a plan to sell securities worth about Rs 20,000 crore. One day following the virtual Extraordinary General Meeting (EGM) of the firm, this announcement was made. With this clearance, the telecom company is expected to complete its stock fundraising by the end of June. Vodafone Idea intends to seek further debt after the equity fundraising is finished, potentially extending the total funding to Rs 45,000 crore.
Vedanta
The business can now refine 3.5 million metric tonnes of alumina per year (MTPA). As a component of their new 3 MTPA facility, the business has opened a new 1.5 MTPA alumina refinery in Lanjigarh, Odisha. With this development, the Lanjigarh refinery’s overall production capacity will increase from its existing 2 MTPA to 5 MTPA.
Som Distilleries and Breweries
The Som Distilleries and Breweries board of directors has approved a stock split. The existing equity shares of the company, which have a face value of Rs 5 apiece, will be split up into shares with a face value of Rs 2. This action is anticipated to increase the company’s share liquidity and encourage participation from individual investors.
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