Rebounding stocks

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Shares of online gaming company Nazara Technologies surged 20 percent intraday on June 24 after the stock adjusted for the bonus issue. The stock was trading at Rs 614.25, up 17.92 percent against the previous close of Rs 520.90, at the time of writing this report. On May 13, Nazara announced the bonus issue in the ratio of one equity share for one equity share held by shareholders as on record date. Hence, the previous closing price of the stock halved to Rs 520.90, against Rs 1,041.80 earlier. The record date for the bonus issue has been fixed as June 27, which means a person having a share of Nazara Technologies by the closing of June 27 is eligible to get a bonus share. After hitting the lowest point since listing, the stock has rebounded. Its lowest closing was Rs 500.38 on June … [Read more...] about Nazara Technologies shares spike 20% as stock trades ex-bonus

PhonePe CEO Sameer Nigam (Image credit: Photo tweeted by @_sameernigam) Payments and financial services company PhonePe has clear plans to list on the stock exchanges some day and when ready the company will launch an initial public offering (IPO) in India, founder and CEO Sameer Nigam said. Speaking in an episode of CNN News18 ’s Bits to Billions, Nigam said that the company is also in the process of moving its registered entity from Singapore to India. Missed Bits to Billions? Watch it here: PhonePe Is Made In India, Will List In India: How Sameer Nigam & Rahul Chari Built A Unique Unicorn "We are moving our holding company to India, and we will list here. Our board has already signed off on it, it's just a matter of time now," he said. "We are a made in India company. Every office, data centre, and employee of ours is here. There is no reason why we should not contribute to wealth creation in this market." Close PhonePe's move to bring back its … [Read more...] about PhonePe is made in India and will list in India, says CEO Sameer Nigam

Wall Street, New York City (File image: Reuters) Wall Street's main indices soared on Friday in a broad rally as signs of slowing economic growth and a recent pullback in commodity prices tempered expectations for the Federal Reserve's rate-hike plans. The S&P 500 rose over 3% for its biggest one-day percentage rise since May 2020. All 11 of the benchmark index's sectors ended at least 1.5% higher. Stocks rebounded this week as financial markets have been roiled over worries that rapid rate hikes by the Fed to rein in 40-year-high inflation could cause a recession. Still, investors have been gauging when the market might hit its bottom after the benchmark S&P 500 earlier this month recorded a 20% drop from its January closing peak, confirming the common definition of a bear market. "Some of the moves, the sellers just get exhausted so you don’t have as much capital moving out," said Shawn Cruz, head trading strategist at TD Ameritrade. "This might be a … [Read more...] about Wall Street mints big gains to end a strong week