Stock Market Corner

Stock Corner

1.                   Share price of Godrej Consumer Products touched 52-week high of Rs 1,469, rising 1.5 percent as company divested entire stake in its UK business. The company has divested its entire stake in its UK business, Godrej Consumer Products UK, to JZ International, a leading pan-European private investment business based in London, effective immediately.

2.                   MTNL's plans to seek approval of shareholders for raising authorised share capital to Rs 10,000 crore and borrowing powers by almost 40 per cent will aid the state-owned corporation's 4G plans and provide it the firepower to compete in the market.

3.                   Reliance Infrastructure has won Rs 200 crore arbitration award against National Highway Authority of India (NHAI). A three-member Arbitration Tribunal in its unanimous award on August 31, 2018 has asked NHAI to pay Rs 150 crore by November 29, 2018 to Reliance Infrastructure.

4.                   Fuel prices have continued to march upwards touching new all-time highs on Monday. The price in most metro cities has continued to surge with the petrol touching Rs 86.56 per litre and diesel touching Rs 75.54 per litre in Mumbai.

5.                   Shares of Larsen & Toubro (L&T) rose 1.5 percent intraday Monday as company's construction arm won orders worth Rs 2,654 crore across various business segments. Its transportation infrastructure segment bagged a new order worth Rs 2,095 crore from Maharashtra State Road Development Corporation (MSRDC), for the construction of Package 10 of the Six-lane Nagpur Mumbai Super Communication Expressway in the state of Maharashtra.

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