POST MARKET
Indian equity markets extended their losing streak for the second consecutive session on April 23, as lack of progress in US–Iran negotiations pushed crude oil prices above $100 per barrel, dampening investor sentiment.
At close, the Sensex was down 852.49 points or 1.09 percent at 77,664, and the Nifty was down 205.05 points or 0.84 percent at 24,173.05.
Biggest Nifty losers were Trent, M&M, Shriram Finance, SBI Life Insurance, Tech Mahindra, while gainers included Dr Reddy’s Labs, Cipla, Jio Financial, Adani Enterprises, Apollo Hospitals.
Broader indices also ended lower with Nifty smallcap index losing 0.6%, snapping 2-day gains, while Midcap index shed 0.4%.
STOCKS IN NEWS
Tata Communications
The stock of Tata Communication rose more than 3 percent on 23,April because Board recommends final dividend of Rs 17.5 per share also Revenue rises 9.4% to Rs 6,554.2 crore Vs Rs 5,990.4 crore.
Unimech Aerospace and Manufacturing
Stock of Unimech Aerospace and Manufacturing showing a positive movement of approximately 2.17% Unimech Aerospace, along with its wholly owned subsidiary Innomech Aerospace Toolings, has approved an investment of up to Rs 450 crore for the acquisition of Hobel Bellows Co, a partnership firm, through Hobel Bellows. Unimech Aerospace and Innomech Aerospace Toolings will acquire 24 percent and 76 percent shareholding, respectively, in Hobel Bellows. Thereafter, Hobel Bellows will acquire a 99.99 percent partnership interest in Hobel Bellows Co.
Jio Financial Services
Jio Financial Services gained approximately 4% recently following company entered into a binding agreement with Allianz Group (Allianz), through its wholly owned subsidiary Allianz Europe BV, to form a 50:50 primary insurance joint venture (JV) covering general and health insurance to serve the rapidly expanding Indian insurance sector.
Oracle Financial Services Software
The share price of Oracle Financial Services Software Ltd (OFSS) rose of over 7% due to Profit spikes 30.7% to Rs 841.7 crore Vs Rs 643.9 crore.
Source – Moneycontrol
