Foreign Institutional Investors (FIIs) offloaded equities worth Rs 285.15 crore on Monday, according to exchange data.
Share Market News: Amid the volatility in the stock market, the shares of Bhatia Communication and Retail India Limited hit an upper circuit of five percent on Tuesday i.e. February 27. The shares of the company, which has a market cap of Rs 464 crore, has touched a 52-week high of Rs 37.05.
The shares of Bhatia Communication and Retail India Limited have given a return of 29 percent to the investors in the last 5 days while in the last one month it has given a return of 71 percent from the level of Rs 21.70.
Bhatia Communication shares have given 98 percent return to investors in the last 6 months from the level of Rs 18.74. Bhatia Communication & Retail India Limited is a multi-brand consumer durables, electronics and electrical appliances retailer with a wide range of products. The company operates in South and Central Gujarat and surrounding areas.
Bhatia Communications has informed the stock market that the company’s board of directors met on February 12, in which the results for the third quarter of the current financial year were approved.
Bhatia Communications has informed the stock market that its income from operations in the third quarter of the current financial year stood at Rs 116.78 crore, which was Rs 100.45 crore in the previous quarter and Rs 97.02 crore in the third quarter of the last financial year.
Meanwhile, equity benchmark indices began the trade on a weak note on Tuesday tracking sluggish global market trends and fresh foreign fund outflows.
The 30-share BSE Sensex declined 130 points to 72,660.13 in early trade. The Nifty dipped 36.4 points to 22,085.65.
Later, both the benchmark indices recovered the early lost ground and were trading marginally higher. The 30-share BSE benchmark quoted 10.30 points up at 72,800.43, and the Nifty traded 8.85 points higher at 22,135.60.
Among the Sensex firms, Axis Bank, Bharti Airtel, HDFC Bank, Larsen & Toubro, Bajaj Finance, ICICI Bank and Reliance Industries were the major laggards.
Tata Consultancy Services, HCL Technologies, Wipro and UltraTech Cement were among the gainers.
In Asian markets, Seoul, Tokyo and Hong Kong were trading lower while Shanghai quoted in the green. The US markets ended marginally lower on Monday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 285.15 crore on Monday, according to exchange data.
The BSE benchmark fell by 352.67 points or 0.48 per cent to settle at 72,790.13 on Monday. The Nifty declined 90.65 points or 0.41 per cent to 22,122.05.
“Volatility is expected this week due to F&O contract expiry,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. Global oil benchmark Brent crude dipped 0.12 per cent to USD 82.43 a barrel.
Disclaimer: This article is for informational purposes only and not an investment advice