Sensex ends down 200 points, Nifty below 17,500; auto, banks weigh, oil&gas up

HDFC Bank announces highest dividend in last 11 years. Tata Elxsi Rs42.50 per share dividend…………

Dividend paying stock: HDFC Bank on Saturday announced a dividend of ₹15.50 per equity share, which is highest in last 11 years. The private lender informed Indian exchanges about the recommendation of its Board of Directors at the Annual General Meeting (AGM) held on Saturday, April 23, 2022. The record date for finalisation of eligible shareholders for dividend payment has been fixed on 13th May 2022.

HDFC Bank informed about the proposal of dividend payment in exchange communication citing, “Pursuant to Regulations 30, 42 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time (“the Regulations”), we are pleased to inform that the Board of Directors, at its meeting held today, has recommended a dividend of Rs. 15.50 per equity share of Re. 1/- each fully paid up (i.e.1550 %) out of the net profits for the year ended March 31, 2022, subject to the approval of the shareholders at the ensuing Annual General Meeting (“AGM”) of the Bank.”

Multibagger Tata Group stock recommends final dividend of ₹42.5 per share

Tata Elxsi shares have given multibagger return in a year1

Tata Elxsi’s Q4 net profit grew to ₹160 crore, up nearly 39% from the year-ago quarter

While announcing its earnings for the quarter ended March 2022, Tata Elxsi also said that its board has recommended a final dividend of 425% at ₹42.50 per share for the year 2021-22, which is subject to the approval of the members at the forthcoming Annual General Meeting (AGM) and subject to tax

HDFC Bank:  “The record date for determining the eligibility of members entitled to receive dividend on equity shares is Friday, May 13, 2022. Dividend, if approved by the shareholders of the Bank, shall be paid after the AGM to those shareholders, whose names appear in the Bank’s Register of Members/ Register of Beneficial Owners maintained by the Depositories viz., National Securities Depository Limited and Central Depository Services (India) Limited as at the close of business hours on Friday, May 13, 2022,” HDFC Bank concluded.

In June 2011, HDFC Bank had announced a dividend of ₹16.50 per equity share, which is second highest ever dividend announced by the private lender since 20th April 2001.

Sensex ends down 200 points, Nifty below 17,500; auto, banks weigh, oil&gas up

Indian equities ended lower for the third straight day on Wednesday, erasing gains made earlier in the session. Losses were largely led by auto, banks and financials. Oil & gas stocks rose as global crude oil prices climbed back above $100 a barrel.

Global peers fared no better. European equities fell as traders weighed the start of the corporate earnings season against the risks from surging inflation.

The Stoxx Europe 600 was down 0.4% at 10:49 a.m. in London, weighed down most by travel and leisure shares.

Back home, the benchmark Sensex fell 237.44 points to end the day at 58,338.93, while Nifty finished 54.60 points lower at 17,475.70. About 1,811 shares advanced, 1,494 declined, and 136 were unchanged.

HCL Technologies Expands Global Partnership with Avaloq to Accelerate Innovation in Digital Wealth Management:

IEA lowers world oil demand outlook on China lockdowns

Global oil demand will be slightly lower than forecast this year in the wake of strict Covid lockdowns in China, the world’s biggest importer of crude, the International Energy Agency said Wednesday.

Russian oil supply, meanwhile, is expected to continue to fall in April by 1.5 million barrels per day amid its invasion of Ukraine, according to the IEA, which advises developed countries on their energy policies.

But increased output from the OPEC group of oil producing countries and stock releases from the United States and other IEA members “should prevent a sharp deficit from developing,” said the agency in a monthly report.

Rich countries have agreed to tap an additional 120 million barrels of oil from emergency reserves, with half from the United States, in a bid to calm crude prices that have soared following Russia’s February 24 invasion of Ukraine.

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