News Overview

On Wednesday, Smallcap World Fund Inc sold 25 lakh shares of Hikal Ltd for more than Rs 62 crore in an open market transaction.

Banking stocks were trading with gains, with the S&P BSE BANKEX index increasing 446.9 points or 1.17% at 38686.16 at 09:47 IST.

Utilties stocks were trading in green, with the S&P BSE Utilities index rising 36.71 points or 1.09% at 3412.9 at 09:47 IST.

Record date for dividend is 05 July 2022

According to the DRHP, the IPO includes an offer-for-sale (OFS) of up to 25.5 lakh equity shares by the founders

The Buy Back price has been fixed at Rs550 per Equity Share payable in cash.

According to media reports, Trent and Go Fashion doubled their inventory levels in the final quarter of FY22, while Page Industries, V-Mart, Relaxo, and Aditya Birla Fashion and Retail raised their stocks by 60—70%.

The direct selling sector in India saw growth of 7.7% in 2021 and a CAGR of 15.7% over the previous 3 years, from 2018 to 2021.

Wonderla Holidays operates three Wonderla brand amusement parks in South India.

Indian Oil Corporation (IOCL) gained 2.73% to Rs 75.25 after the company said that the board has approved investment proposal for capacity expansion of Digboi Refinery in Assam.