Nykaa to issue bonus shares

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⭐Nykaa to issue bonus shares

Beauty and fashion retailer, Nykaa has announced a 5:1 bonus issue, i.e. 5 equity shares for every 1 share held by its shareholders. The company has fixed 3 November 2022 as the record date to determine eligible shareholders for the issue. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

⭐ BoM reports robust growth 

Public sector lender Bank of Maharashtra announced its quarterly business update on Monday. It reported a 28.6% year-on-year (YoY) rise in gross advances to 1.48 lakh crore, while its total deposits grew by 7.8% YoY to 1.95 lakh crore. Current account savings account (CASA) deposits as a percentage of total deposits rose to 56.2% from 53.9%.

⭐Indian cos to allocate budget for 5G 

As per a new report, around 50% of the Indian companies from various sectors are set to increase their budget allocation towards deployment of 5G services and industry 4.0 related technologies over the next 2-5 years. Major telecom operators are set to roll out nationwide 5G services in the coming days. 

Global markets (at 7:30 AM today)

Fact of the day

As per a new survey, India’s unemployment rate dropped to 6.4% in September 2022, the lowest in more than 4 years.  

Source: LiveMint