Nykaa to consider bonus issue of shares

The Markets Today in a nutshell

• Domestic benchmark indices extended losses for seventh day.
• Markets were highly volatile amid expiry day, along with this investors awaited the outcome of RBI policy meeting, expected on September 30. Buying in healthcare, metal and FMCG names helped indices to erase some of the intraday losses.

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Capital Flows

News you could use

?Godrej Consumer up over 2 percent as Credit Suisse maintained outperform rating
The structural improvements in the sales engine continue. However, recent quarters were hampered by raw material inflation & currency depreciation in Africa. Brokerage firm Morgan Stanley has kept an overweight rating on Godrej Consumer Products.

?Nykaa to consider bonus issue of shares
FSN E-Commerce Ventures informed stock exchanges that its board will be considering approving the issuance of bonus shares to investors on Monday. Brokerage firm JM Financial has a buy rating on the stock.
 
?HeroMotoCorp declined as foreign brokerage maintained underweight call
Global research and broking firm Morgan Stanley have maintained its underweight call on the stock. Rising sales incentives are likely to offset commodity-led gains. The company is set for an EV launch but based on peer experience, expect slow volume ramp up. Limited margin upside and market share pressures keep us underweight.

News from the IPO world?

• IPO fundraising in India drops by 32 percent
• Electronics Mart sets price band at Rs. 56-59 for its public issue
• Swastik Pipe IPO opens for subscription today

Numbers? that matter