SGX Nifty Down 89 Points | Largecap Stock Announces Hefty Dividend | BLS International Quarterly Results | Top Buzzing Stocks Today

Thu, 10 Nov Pre-Open

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On Wednesday, Indian share markets witnessed selling pressure during closing hours and ended marginally lower.

Benchmark indices came under pressure during closing hours amid subdued global mood.

At the closing bell on Wednesday, the BSE Sensex stood lower by 152 points (down 0.3%).

Meanwhile, the NSE Nifty closed down by 46 points (down 0.3%).

ITC, Kotak Bank, and IndusInd Bank were among the top gainers.

Power Grid, Tech Mahindra, and Sun Pharma on the other hand, were among the top losers.

Broader markets ended on a negative note with BSE Mid Cap index falling 0.5% while the BSE Small Cap index ended 0.3% lower.

Sectoral indices ended on a mixed note with stocks in the realty sector, metal sector, and healthcare sector witnessing selling pressure.

While stocks in the banking sector and FMCG sector witnessed buying.

Shares of Lakshmi Machine, VST Industries, and Britannia hit their 52-week high.

At 8:20 AM today, the SGX Nifty was trading down by 89 points or 0.5% lower at 18,100 levels.

Indian share markets are headed for a negative opening today following the trend on SGX Nifty.

The Tatas & trust go together. But there is another 100-year-old rightful claimant. A century old business group that has grown consistently, but is hardly ever in the news.

Out of the spot light, conservative, perhaps even reticent but no one can deny that this group is one of India's oldest & most trusted business groups.

Watch the video below to know more about a business group that has over 110 years grown consistently, staying busy doing things that don't demand headlines. We can look forward to exciting times ahead for the group and its companies.

Top Buzzing Stocks Today

Nykaa will be among the top buzzing stocks today.

FSN E-Commerce Ventures Ltd, the parent company of Nykaa, has been under pressure as the lock-in period expires on November 10. Private equity funds and high networth individuals (HNIs), who were early investors in the company will now be able to liquidate their holdings.

Oriental Carbon & Chemicals share price will also be in focus today.

The firm has released its September 2022 quarter financial results and announced an interim dividend of Rs 7 per share.

Record date for the purpose of determining the entitlement of the shareholders for the interim dividend as 18 November 2022, and dividend will be paid to the shareholders on or from 28 November 2022.

Market participants will also track the share price of 3M India.

3M India posted its quarterly results. Along with posting good quarterly numbers the company had also announced a hefty interim dividend.

The Board of Directors declared an Interim (Special) Dividend of Rs. 850/- per equity share of face value Rs. 10/- each, for the financial year 2022-23.

DCX GMP

DCX Systems IPO share allotment has been announced and now focus has shifted towards the listing premium and share listing date. The initial public offer (IPO) of DCX Systems is going strong to stronger in grey markets.

After strong response by bidders during three days' subscription, DCX IPO grey market premium (GMP) has surged from around Rs 55 apiece levels to Rs 90 today. According to market observers, shares of DCX systems are available at a premium of Rs 90 per share in grey market today.

Market experts said that due to trend reversal on Dalal Street, DCX IPO GMP has risen from around Rs 55 to Rs 90 within three days that reflects the grey market mood in current bullish stock market sentiments.

They went on to add that DCX IPO GMP had slipped from three digit figure to Rs 55 levels and expected the GMP to regain Rs 100 mark if the bullish trend in secondary market continues.

However, they said that bidders can expected strong premium from the public issue on its listing date, which is most likely on 11th November 2022.

Note that GMP is not an ideal signal for ascertaining listing premium from an IPO.

Since you are interested in upcoming IPOs, you might be interest in our article on Inox Green Energy IPO: 5 things to know.

BLS International posted its quarterly results

Shares of BLS International hit a record high of Rs 388.9 rallying 15 % on the BSE.

On 09 November, its board recommended a bonus share issue in the ratio of 1:1 i.e. one bonus equity share for every one fully paid equity share owned as on the record date.

This is the second bonus issue announced by BLS International during the current calendar year 2022 (CY22). Earlier, the board of the company on 13 April 2022 and subsequently its shareholders in the extra-ordinary general meeting on 09 May 2022 approved the issue of bonus equity shares in the ratio of 1:1.

Thus far in CY22, the stock price of BLS International has appreciated by 309 %.

There is a large market available to be captured as majority of the governments are yet to outsource visa services. Moving forward, BLS International still sees good growth potential in its core business of visa services, and expects strong growth in the passport services business.

BLS International is engaged in the business of providing outsourcing and administrative task of Visa, Passport and Consular services to various Diplomatic Missions across the world. The company also provides services related to attestation and apostille on behalf of Ministry of External Affairs, New Delhi (India).

Over the next few years, the company said it will continue growing these businesses, while simultaneously maintaining its emphasis on compliance, information security and data protection, customer service, developing innovative products and services and sustainable business practices.

Did you know that BLS International is also one of the 5 multibagger Small-cap stocks with high promoter holding.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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