Mon, Nov 18, 2024 9:56 AM
Stock market today: Aditya Birla Fashion, Hindustan Copper among five st...
A Flip by Avya Verma
Penny stock: Shares of Starlineps Enterprises saw a 5 per cent surge during intra-day trading on Monday, November 18, following the company’s strong financial results for the second quarter of the fiscal year 2024-25 (Q2FY25). The Surat-based diamond and jewellery trader reported a significant increase in net profit and revenue, which spurred market interest and investor optimism.
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Central government is poised to introduce significant reforms in the insurance sector, including allowing 100% foreign direct investment (FDI) and easing restrictions on insurance agents, according to a report in The Times of India. These changes are part of the proposed Insurance Amendment Bill, which is expected to be presented during the winter session of Parliament later this month.
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Shares of Mahanagar Gas and Indraprastha Gas fell up to 18% on Monday after the government cut the Administered Price Mechanism (APM) allocation to city gas distribution firms by 20% for the second consecutive month. Mahanagar Gas shares dropped to Rs 1,075, while Indraprastha Gas shares slid to Rs 324.8.The brokerage slashed its target price for MGL by 35% to Rs 1,164.
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