Today’s top morning headlines - 11th March 2024

Good afternoon

NIFTY 50 saw some profit broking at higher levels after touching all time highs of Rs.22,525

Top gainer: NESTLEIND: 2,610 ▲ 52 (+2%)
Top loser: TATACONSUM: 1,226 ▼ 35 (-2.8%)

:star: Dwarikesh Sugar shares zooms on buyback announcement

Shares of Dwarikesh Sugar rose over 6% today to hit a day high of ₹86.80 per share after the company’s share buyback announcement. The Board of Dwarikesh Sugar announced a share buyback of up to ₹31.50 crore through the tender route. It will buy back 30 lakh shares of the company at ₹105 apiece. The company has fixed 20 March 20, as the record date for the buyback of shares.

:star: Tata Chemicals, Tata Investment Corporation see significant fall

Shares of Tata Chemicals declined as much as 10% on Monday, while those of Tata Investment Corporation are also down in a 5% lower circuit. The stock fall comes after media reports indicated that Tata Sons’ is unlikely to list its shares on the stock exchange. Instead the company is looking at multiple other options like cutting down debt at the group level and also hive off units like Tata Capital to comply with the Reserve Bank of India’s upper-tier NBFC norms.

:star: Torrent Power stock soars 12% to hit record high on securing Rs 1,540-cr solar power project

With the award of this 306 MW capacity, Torrent’s renewable capacity under construction has increased to 1.7 gigawatt (GW). In an exchange filing dated March 7, Torrent Power said it received letter of award (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL) to supply 306 MW solar power under Mukhya Mantri Saur Krushi Vahini Yojana 2.0 scheme for feeder level solarisation under PM KUSUM Scheme.