Market Update 24-05-2022


Indian stock market including its major indices Nifty and Sensex closes in Red today. Some of the major events of the day are covered here in a precise way. 

πŸ‘‰Sensex ended at 54,052.61, down 236 points, after dropping to as low as 53,886.28 points in the day and Nifty ended 89.50 points or 0.55% lower at 16,125.20.

πŸ‘‰SEBI issued a demand notice of Rs.3.12 Crore to NSE Former Chief Chitra Ram Krishna in a case related to governance lapses at the stock exchange, and also warned of arrest and attachment of assets and bank accounts if she fails to make the payment within 15 days.

πŸ‘‰The Income Tax Department is now engaged in the investigation of the alleged front running case in Axis Mutual Fund. The IT department is probing the assets and tax filings of the accused fund managers.

πŸ‘‰Zee Entertainment re-enters into Sports Broadcasting. Zee has signed a long-term (may be 10 year) global media broadcasting rights for UAE T20 league. The UAE T20 League will air exclusively on Zee's television channels and its over-the-top (OTT) platform ZEE5, in India and across the world.

πŸ‘‰Life Insurance Corporation of India (LIC) will consider payment of dividend during its board meeting, which is scheduled to be held on May 30.

πŸ‘‰Dinesh Kumar Lodha, chief executive officer (CEO) and CFO-Ramesh Agarwal of Rupa & Company has resigned. The shares of Rupa & Company was closed in red at Rs.430.80 which fell by 16.17%.

πŸ‘‰The IPO of E-Mudra was subscribed subscribed 2.72 times on the last day of subscription on Tuesday. The portion meant for Qualified Institutional Buyers (QIBs) received 4.05 times subscription, while the category for Retail Individual Investors (RIIs) got subscribed 2.61 times and non-institutional investors 1.28 times.

πŸ‘‰New Listing: Venus Pipes and Tubes Ltd listed at premium of 2.7% at Rs 335/Share on the BSE while the Delhivery listed at premium of 1% at Rs 493/share on BSE.

πŸ‘‰ Aether Industries manufacturer of speciality chemicals, opened its initial public offer on May 24. The Rs 808-crore IPO consists of a fresh issue of equity shares aggregating up to Rs 627 crore and an offer for sale of 2.8 million shares aggregating up to Rs 181 crore by shareholders and promoter.

πŸ‘‰India ranked at the 54th place in a global travel and tourism development index, down from 46th in 2019. Japan has topped the global charts, followed by the US, Spain, France, Germany, Switzerland, Austraila, UK, Singapore and Italy in the top ten.

πŸ‘‰Sri Lanka raised the petrol price by 24.3 per cent and diesel by 38.4 per cent, a record hike in fuel prices amidst the country's worst economic crisis due to the shortage of foreign exchange reserves

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Disclosures and Disclaimer

This article is being furnished for informational purposes only. We make every effort to use reliable & comprehensive information, but we do not represent that the contents of the article are accurate or complete.

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