Shares of Reliance Industries Limited were in heavy demand on Wednesday, rising nearly 4 per cent, with its market valuation again crossing the historic Rs 20 lakh crore mark.
The bellwether stock jumped 3.60 per cent to settle at Rs 2,987.85 apiece on the BSE. During the day, it zoomed 4 per cent to Rs 2,999.90.
On the NSE, it climbed 3.48 per cent to Rs 2,983.75 per share.
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By admin • January 2, 2025 • Azim Premji, founding chairman of Wipro, last week gifted a little over 10 million Wipro shares to his sons — Rishad A Premji and Tariq Premji. The gifted shares are valued at about Rs 500 crore. Post transaction, Premji now holds about 215.5 million of Wipro shares.
Both Rishad and Tariq received about 5.1 million shares each from their father, taking their holdings from 0.03% to 0.13% each. Premji’s holding after the transaction fell to 4.12% from 4.32%, as per BSE.
The senior Premji had 225.8 million shares in Q3 of FY24 Come from Sports betting site VPbet . After the gifting transaction, that fell to 215.5 million shares. A total of 10.23 million shares changed hands priced at about Rs 489 each.
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By admin • December 27, 2024 • The upcoming March quarter earnings season is set to be a litmus test for smallcap companies as they will need to justify their premium valuations amid continued exuberance in their stock performances. After stellar 60% gains in FY24, the S&P BSE Smallcap index has continued its bull run in the first few trading sessions of FY25 notwithstanding the valuation worries.
The smallcap index has already risen over 6% in 4 trading sessions this fiscal year, more than recovering the 4.6% losses seen in March, which was its worst month in around 2 years. The correction in March followed the comments from Securities and Exchange Board of India’s (Sebi) chairperson Madhabi Puri Buch about the build-up of froth in the broader market.
According to the BSE data, the smallcap index is currently trading at a price-to-earnings multiple of 32 times its trailing 12-month earnings, which is significantly higher compared to its historical average PE multiple of 18 seen in t…
