📈 Domestic benchmark indices closed on a positive note on May 19, 2023. 📢 At 3:30 PM, the Sensex jumped by 297.94 points or 0.48% at 61,729.68, and the Nifty was up 73.45 points or 0.41% at 18,203.40. 📊Among sectoral, Nifty IT (⬆️1.47%) turned out to be the best performer while Nifty Pharma (⬇️ 0.96%) saw considerable selling.

The public issue of Veerkrupa Jewellers was launched in June 2022 at a price band of ₹27 per share. This multibagger IPO has announced 2:3 bonus shares and a 1:10 stock split within 10 months of its listing helping a lucky allottees shareholding grow from 4,000 company shares to 66,660 company shares.

Gail India plans to borrow up to Rs 7,000 crore in FY24 to fund the Rs 10,000 crore capital expenditure plan for this fiscal. The state-owned company's chairman and MD SK Gupta said, "For this fiscal, we plan to spend Rs 10,000 crore". He added that even though FY23 was not good for internal resource generation, it invested Rs 9,100 crore, which was 15 per cent higher than the budgeted levels.

Shares of Power Grid Corporation of India fell 1% ahead of March quarter earnings. At 2:34 pm, the stock was quoted at Rs 233.10. The scrip was trading with volumes of 212,219 shares today a decrease of 67%. YTD, the stock has gained 9% while it is up merely 2% in the past year. Elara Securities expects the most extensive transmission utility to grow more on increased capacity.

Alkem Laboratories is a large-cap pharma company that has announced its Q4 and FY23 results and a dividend for its eligible shareholders. The Board of Directors have “recommended a final dividend of Rs. 10/- (Rupees Ten only) per equity share of Rs. 2/- each for the financial year ended 31st March 2023, for the approval of the shareholders of the Company at the ensuing Annual General Meeting.

Reported Standalone quarterly numbers for Vindhya Telelink are: Net Sales at Rs 1,374.93 crore in March 2023 up 284.24% from Rs. 357.83 crore in March 2022. Quarterly Net Profit at Rs. 73.60 crore in March 2023 up 262.04% from Rs. 20.33 crore in March 2022. EBITDA stands at Rs. 129.57 crore in March 2023 up 189.03% from Rs. 44.83 crore in March 2022.

Reported Standalone quarterly numbers for Hindustan Organic Chemicals are: Net Sales at Rs 193.84 crore in March 2023 down 1.23% from Rs. 196.26 crore in March 2022. Quarterly Net Loss at Rs. 2.32 crore in March 2023 down 106.49% from Rs. 35.78 crore in March 2022. EBITDA stands at Rs. 15.08 crore in March 2023 down 69.03% from Rs. 48.69 crore in March 2022.

Nokia brand mobile phone maker HMD Global has integrated UPI service in its 4G feature phones. The newly launched 4G feature phones will come with UPI 123PAY that will enable users to undertake a host of transactions based on four technology alternatives such as calling an IVR number, app functionality in feature phones, missed call-based approach and proximity sound-based payments.

Shares of Nexus Select Trust, the first REIT backed by rental yielding assets, listed at a mild premium of 3% over the issue price on Friday. Analysts advise investors to hold on to the stock and even accumulate at the listing price for the long-term considering the growth visibility. Investors who are looking for a decent yield of 8.5% and some kind of capital appreciation on the NAV.

Government of India-owned India Infrastructure Finance Company Ltd (IIFCL) is mulling an initial share sale by next year provided market conditions are favourable, said PR Jaishankar, Managing Director. "Given the pace at which the company has been growing and the pace at which its internal systems are being revamped, I'm sure we will be in a position to come up with an IPO by next year," he said.

Shares of NTPC were down over a percent on May 19 ahead of Q4 earnings. The stock was trading with volumes of 152,891 shares in the afternoon. According to Sharekhan by BNP Paribas, NTPC's earnings will be driven by decent growth in power generation and commercialisation of new capacities, which will be partially offset by lower other income and higher interest cost or tax rate.

The subscription of Hemant Surgical Industries Limited's initial public offering will start on May 24. The three-day subscription window will end on May 26. The company has fixed the price band for the offer at ₹85-90. The issue comprises upto 27,60,000 equity shares having a face value of ₹10 each. The IPO constitutes a fresh issue of equity shares.

Star Cement share price today opened at ₹133, which remained its intraday high till 12:38 PM. According to stock market experts, market is expecting strong Q4 numbers from Star Cement as the cement company has good exposure in north ease where infrastructural development is going to provide sustained business volume and growth to the company.

An expert committee constituted by India's Supreme Court to investigate the Adani Group said it was not possible to conclude if there has been regulatory failure regarding price manipulations, according to a court filing seen by Reuters. India's market regulator has drawn a blank in its probe regarding the groups entities' ownership, the court committee said in the report.

Markets regulator Sebi's investigation into the Adani vs Hindenburg saga has found out that some entities ended up profiting from the massive rout in stocks of billionaire Gautam Adani's companies. Sebi has also found that some entities have taken short positons prior to the publication of the Hindenburg report and have profited from squaring off their positions after the price crash.