Market this week 8-4-2022

WhatsApp Image 2022 04 06 at 10.30.23 PM 1
  • Tata Teleservices has locked in a 5% upper circuit and has increased by 1,451 percent in the last year.
  • As SBI Mutual Fund increases its shareholding in Max Healthcare Institute, the stock rises over 4%.
  • 3i Infotech has secured a spot in the upper echelon after securing a Rs 6-crore contract.
  • TCS’s stock price has risen as a result of its strategic agreement with Payments Canada.
  • The SML Isuzu share price has increased by more than 18% as a result of the product price increase.

Tata Teleservices has locked in a 5% upper circuit and has increased by 1,451 percent in the last year.

Despite weak market sentiment, the Tata Teleservices (Maharashtra) share price was locked in a 5% upper circuit on April 6. The benchmark indices continued to fall for the second day in a row, losing more than 1% in two days.

On Wednesday, the Tata Tele stock closed at Rs 202.70 on the BSE. In the previous month, the stock has more than doubled in value. When compared to March lows, it has gained 116 percent since closing at Rs 93.55 on March 8.

The broadband, telecommunications, and cloud service provider said in a March 30 response to the stock exchanges that it had always promptly informed the stock exchanges of any events or information required to be disclosed under the Securities and Exchange Board of India’s Regulations, and that it would continue to do so in the future as and when such events or information occurred in the company.

As SBI Mutual Fund increases its shareholding in Max Healthcare Institute, the stock rises over 4%.

On April 5, Max Healthcare Institute shares finished with a 4.5 percent rise on the BSE after SBI Funds Management boosted its stake in the company to over 9 percent through numerous funds. On the BSE, the stock finished at Rs 368.55.

On March 31, 2022, SBI Mutual Fund purchased more than 1 crore equity shares in the company, representing 1.03 percent of paid up equity, through its different schemes.

It previously owned 8.19 percent of the company’s stock. On the same day, promoter Kayak Investments Holding Pte Ltd (a KKR affiliate) sold about 10% of Max Healthcare Institute in a block deal. As a result, its stake in the company has been lowered to 27.54 percent, down from 37.54 percent previously.

3i Infotech has secured a spot in the upper echelon after securing a Rs 6-crore contract.

On April 5, 3i Infotech’s stock was stuck in a 5% upper circuit after the IT firm revealed it had won another contract, its second in as many weeks. On the BSE, the stock opened and finished at Rs 59.35.

On April 4, the smallcap IT firm informed the BSE that it has received a cloud transformation deal for its NuRe platform from one of Asia’s largest commercial banks.

According to the corporation, the deal is worth around Rs 6.04 crore. On March 30, Dhani Loans and Services, Amara Raja Batteries, Aavas Financiers, Erulearning Solutions, Vishal Mega Mart, and Rockman Industries inked master service agreements (MSAs).

TCS’s stock price has risen as a result of its strategic agreement with Payments Canada.

The share price of Tata Consultancy Services (TCS) rose in early trading on April 5 after the business announced a strategic agreement with Payments Canada.

Tata Consultancy Services (TCS) has formed a strategic partnership with Payments Canada, the country’s largest payment organisation, to help the latter transform its payment system operations and implement the Real-Time Rail (RTR), a new real-time payments system that will allow Canadians to make payments and receive irrevocable funds in seconds, 24 hours a day, seven days a week, 365 days a year.

TCS will use its in-depth expertise of the Canadian payments market, as well as its vast experience building and executing large payment systems for Canadian financial services clients, to assist Payments Canada in developing and implementing an integration roadmap for the RTR.

The SML Isuzu share price has increased by more than 18% as a result of the product price increase.

SML Isuzu’s stock jumped more than 18% intraday on March 4 when the business decided to raise its product prices.

SML Isuzu has agreed to raise pricing on its products by 3-4 percent, commencing April 4, 2022 (across all models – trucks and buses).

While the company is taking steps to absorb the impact of a substantial increase in commodity prices and other input expenses, the higher revision was required to partially offset the impact.

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