But this apparently scared off existing investors from
and, in turn, Network18 Media and Investments, since they believe that the agreement will result in a reduction of TV18’s participation in the company. This led to a run on both counters.
TV18 Broadcast fell 17.70 per cent to Rs 61.85, while Network18 Media & Investments tumbled around 20 per cent to Rs 91.30. Both stocks have risen significantly in the past year with the latter up more than 100 percent.
We have seen many companies announce buybacks to reward their shareholders. However, some companies are apparently doing well enough to declare dividends and share buybacks. Financial Services, which runs brokerage and mutual fund businesses, said in its earnings announcement on Thursday that it will distribute Rs 3 per share to its shareholders. In addition, the company will also repurchase shares. Its board of directors will meet on the 17th to decide on the matter. The amount of the buyback and other details will be announced thereafter. Meanwhile, the company reported the highest ever operating PAT of Rs 905 crore, up 69 per cent year on year in FY22 and Rs 262 crore, up 41 per cent year on year in Q4FY22. .
The stock ultimately ended up around 2 percent.
It is rare for a company to get an order as large as its market capitalization. But every time that comes, it leads to a positive stock market reaction.
Capacit’e Infraprojects, a Rs 950 crore market cap company, has been awarded a contract worth Rs 826.49 crore. This includes a proposed turnkey development of a multi-specialty hospital in Bhandup, Mumbai by the Municipal Corporation of Greater Mumbai for Rs 599.04 crore and the construction of a residential project including civil works, RCC structure, masonry and plaster work in Sector 58A, Seawoods, Navi Mumbai from a private sector client for Rs 227.45 crore.
The stock jumped almost 4 percent after the disclosure.