This textile company to consider issuance of bonus, dividend soon

Textile company Khoobsurat informed exchanges that its board will meet on August 12, 2024 to discuss and consider the proposal to declare a bonus issue of equity shares. 

Additionally, the board will deliberate on the proposal to declare a dividend on equity shares. The company said that the board will also discuss business strategies and progress related to the company's brewery project at SA-22 & SA-23 Cuncolim Industrial Estate, Goa. The brewery is expected to be one of the largest in Goa 

Meanwhile, stock market benchmarks indices Sensex and Nifty declined in early trade on Wednesday, extending their Budget day fall, after the government proposed to hike securities transaction tax on futures & options.

Foreign fund outflows and a weak trend in global markets also played spoilsport for the domestic markets.

After a weak beginning, the 30-share BSE Sensex further declined 233.7 points to 80,195.34. The NSE Nifty dipped 73.45 points to 24,405.60.

From the Sensex pack, Hindustan Unilever dropped 3 per cent after the firm reported just a 2.2 per cent rise in consolidated net profit at Rs 2,612 crore for April-June FY25 impacted by price reductions.

Bajaj Finance, Nestle, HCL Technologies, UltraTech Cement, Mahindra & Mahindra and Adani Ports were the other big laggards.

However, ITC, Tata Motors, Tech Mahindra and NTPC were among the gainers.

The key benchmark indices ended marginally lower in volatile trade on Tuesday as the government proposed to hike the securities transaction tax on futures & options in the Budget for 2024-25.

On Tuesday, the BSE benchmark settled lower by 73.04 points or 0.09 per cent at 80,429.04. The Nifty dipped 30.20 points or 0.12 per cent to 24,479.05.