Page 35 - Bharat Electronics News Today

Companies helmed by two of Indias most richest men have earned the tag of being the largest and best all-rounder wealth creators for stock investors.

Two major factors have driven PSU wealth creation, according to Motilal Oswal — turnaround in two banks, and growth in the defense sector.

Promoters held 51.14 per cent stake in the company as of 30-Sep-2023, while FII and DII ownership stood at 17.18 per cent and 18.85 per cent, respectively.

A total of 168,020 shares changed hands on the counter till 11:52AM (IST).

A total of 378,324 shares changed hands on the counter till 12:03PM (IST).

While muted demand, high raw material prices are likely to hurt stocks in consumer staples, consumer discretionary are expected to fare better faring due to the premiumisation trend.

On the technical charts, the 200-day moving average of the stock stood at Rs 121.99.

The company received orders worth Rs 18,298 crore so far in FY24 against its annual guidance of Rs 20,000 crore

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The union government has proposed to sell 8% equity in IRCON International through an offer for sale (OFS), which opens today.