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NEW DELHI: Nifty breached its 14,000 levels and touched its all-time high in the intraday session on Thursday and formed an indecisive candle on the daily chart. The 50-pack formed consecutive indecisive candles in the recent sessions, which signals towards caution that is being employed by the market participants with consistent profit booking and buying on dips approach.
Ajit Mishra, VP - Research at Religare Broking opined, investors would await the auto sales numbers and PMI data as it would help in gauging the economic recovery. Further, global cues are likely to dictate the trend for the markets in the near term. We reiterate our cautious stance on the markets.
Shares of Pilani Investments and Industries Corporation soared 14 per cent to hit 34-month high of Rs 2,870 on the BSE in intra-day trade on Monday ahead of 2:5 bonus issue. The stock will turn ex-date for bonus shares on Thursday, December 31. The stock was trading at its highest level since February 2018. The company has fixed Saturday, January 2 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus shares of the company in the ratio of 2:5 i.e. 2 equity shares for every 5 existing equity shares. Pilani Investment is an investment company registered with Reserve Bank of India (RBI) as a non- banking financial company.
Pilani Investment likely to issue bonus shares shortly
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Pilani Investment & Industries Corporation Ltd., a non-banking financial company (NBFC) and parent of the Birla Group, is likely to announce the results of the e-voting by shareholders for increasing the authorised share capital of the company and issuance of bonus shares, on December 21, as per a regulatory filing.
The company’s board had on November 10, 2020 announced bonus shares for shareholders at the ratio of 2:5. (two new shares for every 5 shares held).
The e-voting, which started on November 21, will end on December 20 and on Monday, the results may be announced.
KR Choksey expects huge upside in Pilani Investment and Industries Corporation Ltd. ANI | Updated: Dec 15, 2020 16:13 IST
Mumbai (Maharashtra) [India], December 15 (ANI/PRNewswire): Brokerage firm KR Choksey Shares and Securities believes that the present scenario offers the perfect opportunity for investors who are looking to diversify their wealth into mid and smallcap stocks.
KR Choksey expects a huge upside in Pilani Investment and Industries Corporation Ltd. The group has consistently rewarded its shareholders with a strong dividend track record for the last ten years.
Pilani Investment is the holding company for Birla Group. Birla promoters (BK Birla and KM Birla) are backed by a strong legacy and adherence to high standards of corporate governance. The current market value of Pilani s investments in listed companies alone is worth approximately Rs 7900 crores, excluding real estate holdings.
KR Choksey expects huge upside in Pilani Investment calcuttanews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from calcuttanews.net Daily Mail and Mail on Sunday newspapers.