News for Kwality Limited (KWALITY.NS)

In the Nifty 50 index, 42 stocks ended in the green, while 8 stocks closed in the red in today's trade.

In the Nifty 50 index, 26 stocks ended in the green, while 24 stocks closed in the red in today's trade.

Hindustan Unilever Ltd announced the acquisition of premium skincare brand Minimalist for ₹2,955 crore on Wednesday, January 22. The FMCG giant also recorded a 19% year-on-year growth in net profits for its Q3 results.

Under the demerger terms, each HUL shareholder will receive one KWIL share for every HUL share held. After the demerger and KWILs listing, KWILs entire shareholding will be directly owned by HUL shareholders. HUL stated that KWIL would become a leading listed ice cream company in India, managed by an experienced team with the flexibility and focus needed to implement strategies tailored to its unique business model and market dynamics, enabling it to achieve its full potential.

The Enforcement Directorate has provisionally attached assets worth Rs 442.85 crore linked to former promoters of Kwality Ltd due to an alleged Rs 1,400 crore bank loan fraud. The properties in Delhi, Haryana, and Punjab were owned through dummy companies. The ED found fictitious trading and fund diversion via shell companies.

The Enforcement Directorate seized Rs 1.3 crore in cash and evidence related to shell companies after raiding former Kwality Ltd. promoters. This is part of a Rs 1,400 crore bank fraud linked money laundering case. Luxury cars and demat accounts worth Rs 6.5 crore have also been frozen under PMLA provisions.

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Hindustan Unilever's board has granted preliminary approval to spin off its ice cream business into a separate publicly listed company. Shareholders will receive stock in the new entity proportional to their existing HUL holdings. The move aims to unlock value and provide the ice cream business with greater strategic flexibility.

In the Nifty 50 index, 13 stocks ended in the green, while 37 stocks closed in the red in today's trade.

"A sustainable move above 18,150-18,200 levels is likely to pull Nifty towards the next overhead resistance of 18,500 levels in the near term," said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

Based on the open interest future percentage, we have seen a short build-up in a total of 63 stocks on Wednesday including LIC Housing Finance, Max Financial Services, Nifty Financial, City Union Bank, and Dixon Technologies.

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BSE Sensex and Nifty 50 were set to witness a positive opening on Friday, as indicated by trends on SGX Nifty in early trade

Nifty futures were trading 30.50 points or 0.17 per cent up at 18277 on Singaporean Exchange, suggesting a gap-up start for BSE Sensex and Nifty 50 on Friday

Trends on SGX Nifty indicate a positive opening for the index in India with a 26-points gain.

Shrikant Chouhan of Kotak Securities is of the view that the intraday texture of the market is weak and is likely to continue for some time.