Notwithstanding high volatility over the week, the BSE 500 index outperformed the headline BSE S&P Sensex with the latter gaining 0.90% (642 points) on a weekly basis.
LIC cuts stakes in 16 PSUs, profit booking seen. Portfolio value surges to Rs 14 lakh crore in 2024, up by Rs 1.6 lakh crore. Market cap of PSU stocks rises to Rs 67 lakh crore.
Suven Pharmaceuticals and Cohance Lifesciences signed a definitive agreement to merge their businesses, which will further strengthen the formers position in contract development and manufacturing organization (CDMO) space.
Among smallcaps, Kaveri Seed was LIC ownership reducing by about half to 2.66% in Q3. In MOIL, LIC stake fell from 7.42% to 5.46% quarter-on-quarter, shows ACE Equity data.
Dividend stocks: Sun Pharmaceutica has declared an interim dividend of ₹8.50 per equity share, Procter & Gamble Hygiene has declared an interim dividend of ₹100.00 per equity share and a special dividend of ₹60.00 per equity share