Stock Market Today Live Updates: MM Forgings to issue bonus shares for the first time in six years; check details here
In an exciting development in the stock market today, MM Forgings has announced that it will issue bonus shares for the first time in six years. The company will also consider a dividend payout to its shareholders along with the bonus shares, as stated in its exchange filing. MM Forgings has been on a positive trajectory, having paid its highest dividends in the last two years, distributing ₹6 per share in both 2022 and 2023.
This news comes amidst a flurry of activity in the stock market, with analysts recommending nine stocks for short-term gains, including Tata Motors, Tata Consumer Products, and Larsen & Toubro. These stocks are projected to provide potential double-digit returns in the near term, making them attractive options for investors looking to capitalize on market movements.
In the IPO space, all eyes are on Vodafone Idea as the lock-in period for anchor investors is set to expire soon. The company’s ₹18,000-crore FPO has garnered significant interest, with top investors including GQG Partners and Fidelity. Despite facing challenges like declining subscribers, Vodafone Idea remains optimistic about its growth prospects post-FPO success.
Market capitalization of the top 10 most valued firms has seen a significant jump of ₹1.85 lakh crore, with Reliance and HDFC emerging as the top gainers. The BSE benchmark has also soared to new heights, reaching an all-time intraday high of 75,636.50 on Friday, showcasing the positive sentiment in the market.
As we look ahead to the week, key market triggers include Q4 results, F&O expiry, Lok Sabha elections, and global cues. Analysts are expecting the Nifty 50 to move towards the 23,150-23,400 range soon, but caution that markets may witness some volatility due to the scheduled expiry of May month derivatives contracts.
Stay tuned to Mint’s market blog for real-time updates on all things Dalal Street and global markets, keeping you informed and ahead of the curve in the ever-changing world of finance.
