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Stock Market LIVE: Sensex sheds 100 pts; Nifty flat; Metal shines; Media drags
Share Market LIVE Updates: Indian stock market opened flat on Monday but Sensex is trading lower now. Hindalco and Apollo Hospitals lead the stock charts and Dr Reddy’s tanks 4%. Metal and Auto indices gain, while Media, Pharma and PSU Bank drag.
Markets got a boost last week as inflation in the United States slowed by more than expected last month. China also relaxed some of its strict anti-COVID measures, which have been hurting the world’s second-largest economy and raised hopes for more growth from China.
Healthcare Global Enterprise: Outpacing the Industry Growth
HCG has outpaced the industry growth and reported a revenue CAGR of 19% and new patients’ registration CAGR of 24.6% over FY16-FY19. HCG’s ARPOB reached ₹37,000 (+3.0% Q2FY23 YoY) due to high-end works and is expected to improve further with the increase in the volume of international patients. Karnataka Bank: We should see an upside from here on with company’s overall performance further improving in coming quarters.
LIC shares jump to see best intraday gain since listing as Q2 profit surges.
LIC reported a multifold jump in net profit at ₹15,952 crore in Q2 from ₹1,434 crore a year-ago
Shares of Life Insurance Corporation of India (LIC) surged as much as 9% to ₹682 apiece on the BSE in Monday’s opening session, posting their best intra-day percentage gain since listing in May, after reporting a surge in profit for the second quarter ended September 2022.
National insurer LIC reported a multifold jump in net profit at ₹15,952 crore in Q2 from ₹1,434 crore a year-ago, on the back of jump in premium income and massive gains from changes in its accounting policy along with investment income.
“Increasing non-participating mix and change in surplus distribution policy are significant growth drivers of value of new business (VNB) and in turn embedded value (EV). This, against the strong growth outlook of the Indian life insurance (especially through lens of sum assured), makes LIC a strong investment proposition. Concerns on equity sensitivity to EV is overdone and the relative ease of increasing VNB margin through change in mix is under-appreciated,” said ICICI Securities. The brokerage house has maintained Buy rating on LIC shares with a target price of ₹917 apiece.
Maharatna company(Coal India) to pay ₹15 apiece dividend soon. The shares of Coal India closed on Friday at ₹253.40 apiece, down by 0.08% from the previous close of ₹253.60With a market valuation of Rs. 1,56,071.09 Cr., Coal India Ltd. (CIL) is a large-cap company that operates in the energy industry.
With a market valuation of Rs. 1,56,071.09 Cr., Coal India Ltd. (CIL) is a large-cap company that operates in the energy industry. Although having a production of 79 Million Tonnes (MTs), CIL, a Maharatna company, is now the world’s only largest coal producer. The company has released its Q2 results accompanied by a 150% dividend, and after Q2 performance, a number of brokerage firms anticipate that the stock will soon reach a new 1-year high.
The company has said in a stock exchange filing that “The Board of Directors at its meeting held on date has inter alia, declared 1st Interim Dividend for the financial year 2022-23 @ Rs. 15.00/- per share of the face value of ₹10/- as recommended by the Audit Committee of CIL at its meeting held on date. As already intimated to stock Exchanges vide letter no CIL:XI(D):4157/4156:2022 dated 26.10.2022, the company has fixed Wednesday, 16th Nov’ 2022 as the “Record Date” for the purpose of declaration of 1st Interim Dividend on equity shares for the Financial year 2022-23. The date of payment/despatch of “1st Interim Dividend” shall be by 6th Dec’ 2022.”
Navratna company (Container Corporation) declares 60% dividend, Q2 PAT jumps 20% YoY The shares of Container Corporation of India closed on Friday at ₹770.00 apiece, down by 4.15% from the previous close of ₹803.30 .With a market valuation of ₹46,781.62 crore, Container Corporation of India Ltd. is a large cap company that engages in the logistics industry.
With a market valuation of ₹46,781.62 crore, Container Corporation of India Ltd. is a large-cap company that engages in the logistics industry. The three unique operations of a carrier, a terminal operator, and a warehouse operator make up the company’s main business. As a Navratna CPSE, Container Corporation of India provides multifunctional logistics for domestic and international containerization and commerce in India. The company has released its Q2 earnings along with a 60% interim dividend.
The company has said in a stock exchange filing that “The Board has declared 2nd Interim Dividend for FY 2022-23 of 60% i.e. Rs.3.00 per equity share of face value of Rs.5/- each amounting to Rs.182.79 crores. The record date for the purpose of payment of Interim Dividend has been fixed as 23.11.2022. The Interim dividend will be paid/ dispatched to the shareholders on or after 30.11.2022. The payment of dividend will be made within 30 days of its declaration.”
As per the data available on BSE, the ex-dividend is falling on 15 November 2022. For the fiscal year that concluded in March 2022, or FY22, Coal India announced a 170.00% equity dividend, or Rs. 17 per share. This yields a dividend of 6.70% at the current share price of ₹253.40.
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