The board of the company recommended a final dividend of Rs 6.25 per share for the financial year ended March 2022. It will be paid between July 22-26, 2022. This is in addition to the interim dividend of Rs 5.25 per share declared in February.

​Record low rupee is weighing on foreign flows into the country. The partially convertible rupee stood at 77.6780 against the greenback and traded near all-time low levels.

"For any business to remain sustainable, a brand needs to stay ahead of market trends. In a pandemic-stricken world, we’ve seen prices of basic commodities go up relentlessly. Ours being a primarily construction business, we’ve seen raw material prices, labour costs, service costs skyrocket with no end in sight. Consequently, we too have decided to increase our prices in Q1.."

Promoters held 51.09 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 12.06 per cent and 3.58 per cent, respectively.

SALMAN is an abbreviation of six stocks, namely State Bank of India (SBI), Axis Bank, Larsen & Toubro, Maruti Suzuki India, Adani Ports and Special Economic Zone and NTPC that have delivered up to 21 per cent returns in the year 2022 so far.

Brent crude futures for July were up 97 cents, or 0.9%, at $110.08 a barrel at 0220 GMT, after falling by more than $1 earlier in the session. U.S. West Texas Intermediate (WTI) crude futures for June rose 42 cents, or 0.4%, to $110.01 a barrel, recovering from an early loss of more than $2. WTI for July was up 56 cents, or 0.5%, at $107.60 a barrel.

SBI has shown a strong overall financial performance with revival on retail loan book. Asset quality has also improved over the quarters. Management expects to have firm growth in coming quarters despite rising inflation and input costs.

Despite the pause in the safe haven rally, sentiment remained fragile with Asian stocks sliding and U.S. futures pointing lower, a day after a 4% drop for the S&P 500 and a 5% plunge for the Nasdaq.

Even for apparently more enforceable support such as corporate guarantees (as distinct from letter of comfort), RBI said such structures can be used to enhance rating only if there is a strict timeline on invocation of guarantee by lenders.

Stocks that will be reclassified to mid-cap from small-cap include Tata Teleservices (Maharashtra), KPR Mill, Tanla Platforms, Poonawalla Fincorp, Chambal Fertilisers & Chemicals, Phoenix Mills, SKF India, and Sheela Foam.