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Vedanta, BHEL, Grasim, Power Grid, Reliance Power hit 52-week low
Posted on 5th July 2018
Shares of Vedanta, Bharat Heavy Electricals (BHEL), Grasim Industries, Power Grid Corporation, Reliance Power, Tata Motors, NMDC and Rural Electrification Corporation (REC) were among 22 stocks from the S&P BSE 500 index that hit their respective 52-week low on the BSE in intra-day trade on Thursday.

Essel Propack, Great Eastern Shipping, Greenply Industries, Kajaria Ceramics, Kwality, Mangalore Refinery and Petrochemicals (MRPL), Rajesh Exports and Somany Ceramics, too, hit 52-week low today.

Shares of Vedanta hit a fresh 52-week low at Rs 221, down 3%, extending its past two days 5% decline on the BSE, after the Vedanta Resources Plc, the principal holding Company, announcement on Monday that it would delist from the London Stock Exchange (LSE).

Agarwal's Volcan Investments, which currently holds 66.53% of Vedanta, made a cash offer for 825 pence a share.

Vedanta Resources in a statement said it will recommend acceptance of the offer by the shareholders, who would also be entitled to a previously announced dividend of $0.41 per share. The company no longer sees the London listing as necessary to access capital and the deal will simplify Vedanta's corporate structure, it said.

Shares of Tata Motors hit an over five-year low of Rs 253 per share, down 5% in intra-day trade, after the CEO of company owned Jaguar Land Rover (JLR), Britain’s biggest carmaker, reportedly warned that a hard Brexit would cost 1.2 billion pounds a year. The stock was trading at its lowest level since April 8, 2013 on the BSE.

Shares of Kwality hit an over four-year low, locking in the lower circuit for the third straight day, down 5% at Rs 19.65 on the BSE, after the company on Tuesday said its board has deferred the proposed share buyback and bonus issue. The stock of dairy products company was trading at its lowest level since October 8, 2013.

Related Companies: BHEL   

Other Latest News
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019

Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.

Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade.


Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point.

On a weekly basis, the local unit slumped by 32 paise.


LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19.

Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai).


Apollo Hospitals rules out further stake sale
Posted on 13th September 2019
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here.

World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted.

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