Stocks to Watch: The finance ministry may amend its circular to provide relief to Infosys regarding a Rs 30,000 crore GST demand.
Shares of Vadilal Enterprises (Rs 4,795.70), BASF India (Rs 6,925.70) and Venky's India (Rs 2,191.40) were locked in the upper circuit of 20 per cent on the BSE
Stocks to watch on July 11, 2023: Shares of Nazara Tech and Satin Creditcare may see some action as the boards approved fund raising proposals.
Shares of Vadilal Industries soared to its record high, rising as much as 18.6% after the report
The company's board on Thursday approved the purchase of the "Vadilal" brand from its promoter group entity Vadilal International; the stock later pared half of its gains
Vadilal Industries had appealed that the 8 varieties of parathas it makes should all draw the same rate as chapatis
GST rate is 5% on milk and 12% for beverage; company says product is flavoured milk
For the entire financial year 2021-22, Vadilal Industries reported nearly 10-fold jump in net profit at Rs 44.70 crore from Rs 4.63 crore in FY21
In the previous month, stock of the ice cream maker zoomed 58 per cent, as against 2 per cent decline in the S&P BSE Sensex
Vadilal Industries reported a 16 per cent year-on-year (YoY) jump in its consolidated net profit at Rs 38 crore on the back of higher sales
The stock hit a fresh 52-week low of Rs 516.50, down 12% after investor Ashish Kacholia offloaded 5% of its equity shareholding in ice cream maker through open market on Monday.
The stock hit 52-week low of Rs 588, down 20% on the BSE in intra-day trade on back of heavy volumes in otherwise strong market.
Sources claim the company was not on the block even as one of the brothers looked for an exit
Rally due to buoyancy created on hopes of good summer season, company's strong financials
Firm had posted a loss of Rs 2.3 cr in year-ago quarter; FY16 PAT rises six times to Rs 14.4 cr