News for McLeod Russel India Limited (MCLEODRUSS.BO)

According to a Reuters report, tea prices have been soaring and are expected to stay high as heatwaves and floods during the peak harvesting season slash output in key producing regions

The Global Tea Market Size was Valued at USD 49.53 Billion in 2023 and the Worldwide Tea Market Size is Expected to Reach USD 98.29 Billion by 2033,...

"As a part of review of the surveillance action, the price band are revised in the various scrips. The revised price band will be effective from June 7, 2023," the exchange said.

Stocks to watch: Reliance, Wipro, Tata Steel, JK Lakshmi Cement, Sheela Foam, McLeod Russeel, Tata Power, Ashoka Buildcon, Kanoria Chem and Spandhna Spoorthy

According to sources, in the letter, the company offers to infuse upfront equity worth Rs 300 crore and a debt of Rs 945 crore to resolve Mcleod Russel’s outstanding debt. The tea maker currently has a debt of over Rs 1,700 crore.

The share price of the debt-laden tea company has risen after Carbon Resources acquired a 5.03% stake in the Williamson Magor Group firm.

A round-up of the biggest articles from newspapers

Revenue from operations on standalone basis increased by around 3%

In the last week, the BSE 500 index lost over 2 percent with IRB Infrastructure Developers, Rail Vikas Nigam, Vaibhav Global, Adani Power, RBL Bank and Indus Towers falling 10-23 percent.

In the last week, the BSE 500 index lost over 2 percent with IRB Infrastructure Developers, Rail Vikas Nigam, Vaibhav Global, Adani Power, RBL Bank and Indus Towers falling 10-23 percent.

In September Sensex and Nifty rose more than 3 percent each, while the midcap index added 6.6 percent, smallcap indices jumped 5.7 percent.

Read more about Stocks to watch: ZEEL, Indian Overseas Bank, Blue Dart, Persistent Systems on Business Standard. The Reserve Bank on Wednesday removed Indian Overseas Bank (IOB) from the Prompt Corrective Action Framework

BSE Sensex and Nifty 50 were set to see a gap-up start on Wednesday, as suggested by trends on SGX Nifty.

Nifty futures were trading 51 points or 0.32 per cent up at 15,821 on Singaporean Exchange, suggesting a positive opening for BSE Sensex and Nifty 50 on Wednesday

Trends on SGX Nifty indicate a positive opening for the index in India with a 40 points gain.

Check out the companies making the biggest headlines before the opening bell.

Rajesh Palviya of Axis Securities feels any sustainable move above 15,800 levels may cause momentum towards 15,900-15,950 levels.