Market News
5 min read | Updated on February 18, 2025, 13:12 IST
SUMMARY
Shares of Vedanta dropped nearly 2% on Tuesday ahead of its board meeting with shareholders and creditors to decide on the proposed demerger of the company
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Shares of TVS Supply Chain Solutions surged as much as 9% on Tuesday, February 18, after TVS Motor Company bought a stake in the firm via a block deal on Monday. Image: Shutterstock
After opening in green, the domestic equity market was trading with significant cuts in on Friday, February 18.
At 12:10 PM, the S&P BSE SENSEX was trading at 75,747.18, down 249.68 points, or 0.33%, while the NSE's NIFTY50 index was trading at 22,865.95, falling 93.55 points, or 0.41%.
The stock on Monday, February 17, too, ended at its lower circuit limit of 20%, following its December quarter results, and on Tuesday, February 18, in the early morning deals, it was trading over 9% lower at ₹982 apiece on the BSE.
In the early trade, the stock advanced as much as 4.23% to ₹5,464 per share on the NSE.
According to block deal data on the National Stock Exchange (NSE), Allanzers Fin offloaded 20 lakh shares at ₹128.86 apiece, while TVS Motor Company mopped up the same number of shares.
During the intraday trade, shares of the company stood at ₹525.7 apiece on BSE, rising 1.29% on BSE.
The company continued with its positive run on Tuesday. During the intraday trade, Godfrey’s shares were trading at ₹7,496.9 apiece, surging 6.47% on BSE.
From January 1, 2025, the stock has jumped nearly 42%. In a month, it surged 69%, per BSE data.
The Anil Agarwal-led company aims to restructure itself into five separate entities—Vedanta Ltd, Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Steel and Ferrous Materials and Vedanta Power.
During the intraday trade, the company was trading at ₹407.3 on BSE, falling 1.88%.
Gillette India had announced an interim dividend of ₹65 per share with the date set as February 19, 2025. Shares of the company surged 9.95% during the day to ₹8,196.25 apiece on BSE.
A block deal involving 5.1 crore shares of Bharti Airtel, worth ₹8,475 crore took place on the exchanges on Tuesday, with promoter entity Indian Continent Investment being the likely seller. As much as 0.9% stake in the company was sold through the block deals. The floor price for the deal is ₹1,658.80 per share.
The company posted a 14.8% surge in its post-tax profit to ₹372.99 crore in the latest October-December quarter, compared to ₹324.9 crore in Q2 FY25. Sequentially, the revenue from operations increased 5.7% to ₹3,062.28 crore.
During the intraday trade, shares of the firm rose 2.37% on BSE to ₹5,667.15 apiece.
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