Tag: Stocks

Manpasand Beverages slips 20% after Deloitte resigns as firm’s auditors

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Mango Sip’s parent company, Manpasand Beverages, lost 20% in trade after the company announced that Deloitte has resigned as their statutory auditors on Saturday.

Mehra Goel & co was appointed as their statutory auditors, replacing Deloitte, with effect from May 27.

Towards the market close,  The firm said the resignation of Deloitte will not have a long-term impact on the business of the firm. The firm said the delay in the earnings is not correlated with the auditor firm resigning from its post and this is only a ‘minor hiccup.’

Despite the clarification, the firm is still trading with almost a 20% loss, same as that of the morning trade.

The company, in the exchange filing, did not mention a reason as to why the company took the sudden move. However, it mentioned that the board meeting which was scheduled for May 30 had to be postponed. The new date has not been announced yet.

The company has been planning to expand its business and compete with Maaza and Slice, even as it aims to enhance its geographical reach.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market opens in the green amid rupee, crude recovery; OMCs gain

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market has opened in the green with the BSE Sensex trading at 34,0513 points, gaining more than 100 points in the first trade, and the NSE Nifty trading at 10,648 points due to the rupee, crude recovery and the global cues remaining largely strong.

The rupee opened in its two-week high, at 67.52 against the US dollar, marking its recovery path.

The oil marketing companies rose as the oil prices eased in trade, however, the petrol and diesel prices rose for the 15th day, which is expected to keep the oil stocks in check.

The oil prices eased as the market is eyeing three countries to bridge the supply gap.

The oil marketing companies — HPCL, BPCL — Sun Pharma, GAIL and Yes Bank are among the top index gainers, while Manpasand Beverage is losing more than 20% after Deloitte resigned as their auditor.

IT stocks such as Tech Mahindra, TCS and HCL Tech are the major index losers.

On the earnings front, L&T, Oil India, Aurobindo Pharma, NTPC, NMDC, Bank of India, among others, will declare their quarterly results.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

May 28: Buy TCS, ICICI Bank & Mahindra & Mahindra, says Sudarshan Sukhani

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The latest analysis and commentary by stock market guru Sudarshan Sukhani on what is moving the markets today.

He spoke at length on Tata Consultancy Services (TCS), ICICI Bank, Mahindra & Mahindra (M&M), Hindustan Unilever, and Ramco Cements.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Market close in the green amid rupee, fall in oil prices, global cues; OMCs, pharma stocks gain

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

May 28: Here’s what you should know before the opening bell

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market ended in the green on Friday with the Sensex adding another 262 points to Thursday’s 318-point gain to close at 34,925. The 50-stock index, Nifty, advanced 91 points to 10,605, the best closing figure in the last six sessions.

Here’s what you should know before the opening bell 

• US stock futures rose on Monday on signs that the United States and North Korea are still working towards holding a summit next month, while oil prices extended losses on expectations of more supply from major producers.
• Oil prices fell on Monday, extending a steep decline in the previous session, as the market eyed an increase in output from the world’s three top crude producers, Russia, the United States and Saudi Arabia.
• The Indian rupee clocked its biggest single-session rally on Friday, surging by a whopping 56 paise to close at 67.78 against the US dollar amid a rise in local equities and cooling global crude oil prices.
• Profits earned by Chinese industrial firms in April rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed on Sunday, as factories benefited from higher prices and strong demand.
• London and New York markets will be closed on Monday.
• On the Asian front, Japan’s Nikkei gained 0.3 percent in early trade, while South Korea’s Kospi rose 0.5 percent, buoyed by stocks which are seen as benefiting from a further thawing in tensions with Pyongyang.
• American and North Korean officials met at the border between North and South Korea on Sunday in preparation for a possible North Korea-U.S. summit, as North Korea’s Kim Jong Un was cited as reaffirming his commitment to meet with U.S. President Donald Trump.
• The fuel prices rose for the 15th consecutive day with the petrol in Mumbai rising to Rs 86.08 per litre from the previous Rs 85.93 per litre rate and in Delhi to Rs 78.27 per litre from the previous Rs 78.12 per litre rate.
• The SGX Nifty is trading at levels around 10,630 as against the Nifty May Future’s Friday close of 10,602, indicating a green opening for the market.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

May 28: Here are the top stocks to watch out for today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The Indian market ended in the green on Friday with the Sensex adding another 262 points to Thursday’s 318-point gain to close at 34,925. The 50-stock index, Nifty, advanced 91 points to 10,605, the best closing figure in the last six sessions.

Here are the top stocks to watch out for today

• L&T Construction: The L&T subsidiary won an order of Rs 3,191 crore on Friday.
• IFCI: The financial firm received Rs 280.3 crore from the Bhushan Steel resolution process on Friday.
• Cox & Kings: The firm’s financial arm, Cox & Kings Financial Services, got the NBFC license from the Reserve Bank of India on Friday.
• Lupin: The pharma company submitted on Friday a marketing authorization application for Etanercept Biosimilar in Europe.
• Fortis Healthcare: The company received a letter from IHH Health to extending their offer until June 30.
• Oberoi Realty: The realty company is looking to raise Rs 1200 crore via QIPs, sources told CNBC-TV18.
• NALCO: National Aluminium Company Ltd (NALCO) on Sunday said it is preparing a game-changing business model that will bring an additional Rs 935 crore net profit to the company.
• Interglobe Aviation:  India’s low-cost carriers IndiGo and Air India Express have been ranked among the top five cheapest airlines in the world in providing international connectivity, according to a report.
• Shalimar Paints:  Shalimar Paints’ stock jumped 8% on Friday after CNBC-TV18 broke the news about the company looking for investors to infuse funds.
• Corporation Bank: PSU lender Corporation Bank on Saturday reported a net loss of Rs 1,838 crore for the March quarter of last fiscal, mainly on account of increased provisioning.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow