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Moneycontrol Selects: Top stories this evening

Our specially curated package of the most interesting articles to help you stay at the top of your game.

May 26, 2023 / 06:32 PM IST
Most important news stories at Moneycontrol Selects (Representative Image)

Most important news stories at Moneycontrol Selects (Representative Image)

Here is a collection of the most important stories this evening:

Taking Stock: Market on 5-month high, Sensex zooms 629 points, Nifty at 18,500

Indian equity market ended higher for the second consecutive session on May 26, starting the June series on a positive note, and hitting a five-month-high, helped by gains in heavyweight RIL and buying across sectors. Read more here. 

Sun Pharma Q4 result: Net profit at Rs 1,984.5 crore, tops estimate

The company reported a net loss of Rs 2,227.38 crore in the corresponding quarter a year ago, largely on the back of a one-time loss of Rs 3,935.7 crore. Read more here.

Mahindra & Mahindra Q4 result: Net profit rises 22.1% YoY to Rs 1,549 crore, misses estimate 

Mahindra & Mahindra posted a net profit of Rs 1,549 crore for the quarter ended March, up from Rs 1,268 crore in the base quarter. The net profit was up 22.1 percent and up 67 percent YoY including exceptional items. Analysts' expectations on the YoY increase had varied between 39-69 percent. Read more here. 

mc selects

Sensex62,625.63-223.01 -0.35%
Nifty 5018,563.40-71.15 -0.38%
Nifty Bank43,989.00-6.25 -0.01%
Nifty 50 18,563.40 -71.15 (-0.38%)
Fri, Jun 09, 2023
Biggest GainerPricesChangeChange%
IndusInd Bank1,331.0527.20 +2.09%
Biggest LoserPricesChangeChange%
Hero Motocorp2,899.30-65.50 -2.21%
Best SectorPricesChangeChange%
Nifty Infra5574.253.30 +0.06%
Worst SectorPricesChangeChange%
Nifty PSU Bank4035.30-49.50 -1.21%

Sensex will hit 1 lakh mark in 5 years: Chris Wood of Jefferies

Chris Wood of global brokerage firm Jefferies said that it will only be a matter of time before Sensex reaches the 100,000 level. "This target, on a five-year view, now assumes trend 15 percent EPS growth and that a five-year average one-year forward PE multiple of 19.8x is maintained," he stated. Read more here. 

Go First extends suspension of flight operations to May 28

Crisis-hit Go First airline on May 26 extended the suspension of flight operations to May 28 even as it expressed hope that it would soon be able to resume bookings. The cash-starved airline, which has been granted bankruptcy protection, had previously suspended operations until May 26. Read more here. 

PR Sundar settles with Sebi, to refrain from dealing in securities for a year; return advisory fee of over Rs 4 crore

Finfluencer PR Sundar, his company Mansun Consulting and co-promoter of the company Mangayarkarasi Sundar have settled with the market regulator, following complaints that they were providing investment advisory services without the requisite registration from the Securities and Exchange Board of India (Sebi). Read more here. 

MC Explains| Will your Rs 2,000 note be recycled into a banknote, or will it fuel a furnace?

As a part of the Clean Note Policy, the central bank usually weeds out soiled currency notes and replaces them with fresh ones. The Clean Note Policy was announced by the then RBI Governor Bimal Jalan in January 1999. Read more here.

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