Top gainer: Tata Motors 1,082 ▲ 54 (+5.3%)
Top loser: Axis Bank 1,160 ▼ 79 (-6.3%)
MTNL shares double after govt release funds for bond payment
Mahanagar Telephone Nigam Limited (MTNL) continued its gaining streak with the stock jumping 10% to ₹83.87 on July 23, locked in the upper circuit as investor sentiment remained positive on the script. The share price has doubled in the last seven trading sessions and the stock rally started after the government deposited ₹92 crore to pay the immediate bond interest dues earlier this month. Read more
L&T shares climb 1.6% after Q1 profit grows 12% YoY to ₹2,786 crore
Shares of infrastructure giant Larsen & Toubro (L&T) saw an uptick on Thursday, July 25, after the company released its financial results for the latest April-June quarter. L&T posted a 12% increase in consolidated net profit attributable to the company’s owners at ₹2,786 crore in the June quarter. In the year-ago period, net profit stood at ₹2,493 crore. Read more
MRF shares rise over 2% as stock turns ex-dividend on Thursday
Shares of leading tyre maker MRF Ltd rebounded from early lows and rallied up to 2.5% on Wednesday ahead of the ex-date for dividend payout. The MRF board, earlier in May, had recommended a final dividend of ₹194 (1940%) per share of ₹10 each for FY 2023-24. The aggregate dividend for the year works out to ₹200 (me 2000%) per share of ₹10 each. Read more