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[ad_1] Last Updated: May 03, 2023, 14:50 IST MRF share price jumped nearly 5 per cent to hit a high of Rs 92,850 apiece on the BSE. This comes after the company announced a 1,690 per cent final dividend (Rs 169 per share of the face value of Rs 10) along with the announcement of the March quarter results. MRF on Wednesday reported 86 per cent rise in the consolidated net profit to Rs 313.53 crore in the quarter ending March 31, 2023, as compared to Rs 168.53 crore in the same quarter in 2021-22 (FY22). Its consolidated revenue from operations rose 10 per cent to Rs 5,841.7 crore in Q4FY23 as compared to Rs 5,304.8 crore in Q4FY22. The company had earlier announced two interim dividends of Rs 3 each. The total dividend for the financial year works out to be Rs 175 per share. In FY23, the company’s profit rose 8.4 per cent to Rs 739.52 crore from Rs 681.67 crore in FY22. Total expenses rose roughly 5 per cent in the quarter, slowing from a 23 per cent growth in the first nine months...

[ad_1] Tata Motors Share Price: Shares of Tata Motors Ltd has been downgraded by the brokerage firm UBS from neutral to sell. However, it has raised its twelve-month target price for the company’s shares to Rs 450 from Rs 320 earlier. Meanwhile, Tata Motors’ management remains optimistic about the demand situation for its luxury vehicles, with a pipeline of electrified models on the horizon. UBS conducted an extensive analysis of the global premium electric vehicle (EV) industry with a focus on Jaguar Land Rover (JLR), which constitutes over two-thirds of its sales and EBITDA in fiscal year 2023. The findings reveal that the market is underestimating the risks and vulnerabilities faced by JLR due to the rapid electrification of premium cars. Additionally, Tata’s domestic market share in the automotive industry is nearing its peak due to intensifying competition. UBS said investors are likely overlooking the significant shift in the global premium car market caused by electrificat...

[ad_1] Last Updated: July 03, 2023, 08:21 IST Stocks to Watch on July 3:  The Nifty futures contract traded on the GIFT Nifty indicates a positive start to domestic equities. The contract was trading at 19,360, up 15 points or 0.08% from the previous close. HDFC, HDFC Bank Housing Development Finance Corporation and HDFC Bank boards announced the merger of the two entities, effective from July 1 following approval from shareholders and regulators. Adani Transmission In two bulk deals, GQG Partners acquired a total of 2.13 crore shares in Adani Transmission. The GQG Partners Emerging Markets Equity Fund purchased 72.59 lakh shares at a rate of Rs 786.19 per share, while the Goldman Sachs GQG Partners International Opportunities Fund bought 1.40 crore shares at the same price of Rs 786.19 per share. GHCL Shareholders of soda ash manufacturer GHCL have rejected a resolution to reappoint its chairman Sanjay Dalmia as a director of the company, with about 32% of the votes polled agains...