The record date for a stock split (or any corporate action like a dividend or bonus issue) is the specific date set by a company to determine which shareholders are eligible to receive the benefits of that action.
Ex-split trading begins when a stock's price is adjusted following a stock split, which increases the number of outstanding shares while proportionally decreasing the price, maintaining the company's market capitalization.
Kitex Garments, Kore Digital, and Sattva Sukun Lifecare have fixed January 17 as the record date for their bonus share issues. Kitex Garments and Kore Digital announced a 2:1 bonus share issue, whereas Sattva Sukun Lifecare declared a 3:5 issue. Today is the last day to purchase shares to be eligible for these bonus issues.
President Joe Biden warned of an emerging oligarchy of the ultra-wealthy and a tech-industrial complex in his farewell address. He expressed concern about the concentration of power and advocated for a constitutional amendment to remove immunity for sitting presidents. Biden also reflected on his political career and the achievements of his administration.
Expectations for more Fed rate cuts this year increased following the CPI data, and odds for an at least 25 basis point cut at the June Fed meeting.
Q3 results today: Key companies such as Reliance Industries Ltd, Infosys, Axis Bank, and LTIMindtree are set to release their third quarter earnings. RIL is expected to show improved earnings due to better refining margins, while Infosys and Axis Bank may see moderate profit growth despite some challenges.
Various carmakers, including Maruti Suzuki, BYD, and VinFast, are set to debut their electric vehicles at the Bharat Mobility Global Expo in New Delhi, as India’s EV market rapidly expands. As Tesla remains absent, Asian automakers lead the competition in this emerging market, contributing to the nation's goals for green energy and reduced air pollution.
Happy Thursday! Early investors in Oyo are in talks with a group of family offices to part-sell their stakes. This and more in today’s ETtech Morning Dispatch.
The Labor Department said the consumer price index (CPI) increased the most in nine months as energy costs rose, although a measure of underlying inflation pressures subsided.
Benchmarks in Australia, Japan and South Korea all notched gains. The S&P 500 closed Wednesday 1.8% higher, the benchmark’s best day since the November election, which erased its 2025 decline. The tech-heavy Nasdaq 100 climbed 2.3%.
A sustainable move above the hurdle 23,300-23,350 levels could further strengthen the upside bounce in the market. At the lows 23,050 is going to be a crucial support for the market, said Nagaraj Shetti of HDFC Securities.
Qatar, Egypt, and the US confirm a January 19 ceasefire and hostage release deal between Israel and Hamas. The agreement includes three stages: ceasefire, withdrawal of Israeli forces, and humanitarian aid. Guarantors pledged close coordination with the UN and other partners to ensure implementation.
L&T Technology Services reported 4% YoY drop in its consolidated net profit to Rs 322 crore, while revenue from operations were up 9% at Rs 2,653 crore in the third quarter.
Hindenburg Research, known for short-selling activities, has been shut down by founder Nate Anderson. The decision comes after completing investigations, including those against Gautam Adani. Anderson plans to spend more time with family and invest his money in low-stress investments. His team members are taking different career paths.
Indian Railways may see a 15-20% rise in capital expenditure for FY26, boosting its allocation to over ₹3 lakh crore. The 2025-26 budget, to be presented by Nirmala Sitharaman, will focus on modernizing stations, launching contemporary trains, and decongesting tracks. Significant support is expected for the bullet train project and Vande Sleeper train operations.
This may hinder the American cloud company's ability to empanel with the much-coveted Mission to offer AI compute capacity in India through public-private partnership and bid for future projects.
Hospitality startup Oyo’s early investors, such as Lightspeed Venture Partners, are in talks with family offices to divest a portion of their stake at a valuation of around $3.9 billion, sources told us. This stake sale is at a premium of more than 60% to the Rs 1,457 crore funding round in August 2024 when top family offices invested in the now profitable hospitality startup.
The profit stood at Rs 319.6 crore in the same quarter a year ago. Sequentially, net profit grew 0.9% from Rs 336.2 crore. However, the Larsen & Toubro (L&T) subsidiary reported its highest ever large deal bookings helping revenue jump 9.5% YoY to Rs 2,653 crore from Rs 2,421 crore a year ago.
To be sure, private labels are not new. According to the Deloitte-FICCI report on 'Spurring growth in FMCG, retail and ecommerce sectors in India', private labels represent 4% of total retail sales, of which 70% belong to food categories.
Maha Kumbh Mela in Prayagraj is generating about a million gig and temporary jobs over its 45-day duration. Roles range from construction and hospitality to digital security and drone operators. The event marks significant employment growth, including new age jobs, with a notable participation of women.
The wealth manager recommends investors increase allocation to equities by investing a lump sum in an equity-oriented hybrid fund in the wake of the recent stock market decline. It also suggests a staggered investment approach in equity schemes over the next six months and accelerate the investments in the event of a sharper drop in the market.
While healthcare and technology gain from a depreciating rupee, retail and consumer durables could benefit as consumption is expected to see a pick-up as retail inflation subsides in the coming quarter.
The US is the epicentre of flows for most markets worldwide. As a result, changes in interest rates there and movements in the dollar tend to impact flows into not just India but all emerging markets.