Hardwyn India, a provider of kitchen, door, glass, wardrobe and sliding hardware solutions, has announced a bonus issue in the ratio of 2:5 for its shareholders.

In an exchange filing released on Friday, Hardwyn India said that its board of directors met on June 5 to consider and approve the issuance of “bonus equity shares in the ratio of 2:5 i.e., 2 bonus equity shares of Rs 1 each fully paid-up for every 5 equity shares of Rs 1 each fully paid-up held by the shareholders of the company as on the record date, by capitalization of free reserves/retained earnings, subject to the approval of members in Extraordinary General Meeting”.

Along with the bonus issue, Hardwyn’s board also approved increasing the company’s authorised share capital from the existing Rs 50 crore, divided into 50 crore shares with a face value of Rs 1 each, to Rs 70 crore, divided into 70 crore equity shares with a face value of Rs 1 each.

Also read: Why is the stock market crashing today?The Extraordinary General Meeting (EGM) where the bonus issue will be voted on is scheduled for July 3 this year. The company set June 26 as the cut-off date to determine who can vote in the EGM.

Hardwyn India bonus issue record date

As part of the bonus issue, the company proposed to issue nearly 19.54 crore new shares for its shareholders, using its free reserves or retained earnings, which stood at Rs 19.65 crore at the end of the financial year 2026.

The record date to determine the eligibility of shareholders for the 2:5 bonus issue is yet to be announced. Hardwyn said that the bonus issue is expected to be dispatched within two months of the board’s approval, that is, by August 4.

A bonus issue consists of free shares distributed by a company from its reserves and is often seen as a sign of strong financial health and growth prospects. While the issue of bonus shares increases the total number of outstanding shares, it does not change the company’s market capitalisation. However, it can improve liquidity and affordability, allowing more investors to add shares of the company to their portfolio.

Anand Rathi names Hardwyn India as its pick of the month

Anand Rathi Investment Services named Hardwyn India as its pick of the month in its report dated June 2, highlighting that the stock is currently trading near its 20 DEMA support. “Additionally, the DMI indicators are positively aligned, while the ADX is placed at 32, reflecting strong trend strength and supporting the possibility of further upside momentum,” it said.

“Therefore, traders may consider accumulating the stock in the Rs 24.50–25.50 zone, with a stop-loss at Rs 22.50. On the upside, the stock has the potential to move towards the Rs 30 target in the near term, provided it sustains above the mentioned support levels,” it added. The target price implies an upside potential of nearly 23% from the stock’s previous closing price of Rs 24.41 apiece.

Hardwyn India share price

Hardwyn India shares declined nearly 1% to trade at Rs 24.21 apiece, at around 11.05 am on Monday. The stock has fallen around 4% in five days and 2% in one month. Overall, the shares of the company are, however, up over 44% in 2026 so far.

Also read: Nestle among Nuvama’s top 5 consumer picks after Q4 earnings season. Do you own any?

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Textiles major Welspun Living on Friday announced a share buyback worth Rs 252 crore through the tender route at a buyback price of Rs 175 per share, implying a premium of more than 30% over the previous closing price.

In an exchange filing, the company announced that its board of directors has approved the proposal to buy back 144 lakh fully paid-up shares of the company with a face value of Re 1 each for an aggregate amount not exceeding Rs 252 crore. This represents 6.52% of the company’s total paid-up equity share capital and 5.65% of the free reserves.

Record date for Welspun Living share buyback

The record date to determine the eligibility for shareholders who can tender shares in the buyback has been fixed on May 22.Welspun Living further said that the board has formed a buyback committee to oversee the corporate action. It has appointed DAM Capital Advisors as the manager of the buyback.

This comes after Welspun Living undertook a Rs 278 crore share buyback via the tender route back in August 2024. The buyback price for the offer was fixed at Rs 220 apiece. Share buyback refers to a corporate action where a company repurchases its own shares from existing shareholders, mostly at a premium to the market price.

Welspun Living Q4 Results

Along with the share buyback, Welspun Living on Friday announced its results for the January-March quarter of the financial year 2026. The company’s net profit declined more than 21% to Rs 104 crore in Q4 FY26, as against Rs 132 crore in the corresponding quarter of the previous financial year.The textile company’s revenue from operations, meanwhile, declined around 8% YoY to Rs 2,435 crore in Q4 FY26 from Rs 2,646 crore in the same quarter last year. EBITDA fell around 17% YoY to Rs 265 crore, while EBITDA margin contracted to 10.8% during the quarter under review.

Welspun Living share price

Despite the sharp decline in earnings, Welspun Living shares jumped 3% to trade at Rs 138 apiece on NSE after the buyback announcement, as seen at 2.20 pm. The shares of the company have gained over 4% in one week and 12% in one month. The stock is overall up 6% in 2026 so far.

In the longer term, the stock has jumped 50% in three years and 38% in five years. The company has a market capitalisation of Rs 13,200 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The shares of Metropolis Healthcare are set to go ex-record date for its 3:1 bonus issue on Friday. Only shareholders holding the stock as of the record date will be eligible for the first-ever bonus issue announced by the diagnostic services provider.

Earlier in February, the company had announced the bonus issue while releasing its October–December quarter results for FY26. The board approved the issue of bonus shares in the ratio of 3:1, meaning three fully paid-up equity shares of face value Rs 2 each for every one fully paid-up equity share of face value Rs 2 each held by shareholders.

Later, on March 10, the company announced that the record date has been fixed as March 20 (Friday).

What does this mean for shareholders?

If a shareholder owns one share of a company worth Rs 100, a 3:1 bonus issue will convert the holding into four shares worth around Rs 25 each. The total value of the holding remains unchanged at Rs 100.Once the stock begins trading ex-bonus, the price appears to fall sharply, but this simply reflects the adjustment following the corporate action.

Only shareholders who owned the stock on the record date are eligible to receive the bonus shares. Bonus issues consist of free shares distributed by a company from its reserves and are often seen as a sign of strong financial health and growth prospects.

While the issue of bonus shares increases the total number of outstanding shares, it does not change the company’s market capitalisation. However, it can improve liquidity and affordability, allowing more investors to invest in the stock.

Metropolis Healthcare share price:

Metropolis Healthcare shares have gained around 4% in the past five days, but declined around 7% in the past one month. The small-cap stock has dropped nearly 11% in the past six months, and around 5% in 2026 so far.The stock currently has a P/E ratio of around 56, and a market capitalisation of Rs 9,382 crore, as per data on NSE.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Smallcap auto retailer Landmark Cars saw an exit by Goldman Sachs and a stake sale by Polar Capital Funds Plc through separate bulk deals on Thursday. Goldman Sachs offloaded nearly 13.75 lakh shares for about Rs 50 crore while Polar Capital Funds sold 2.51 lakh shares, valued at roughly Rs 9.3 crore.

The stake sale comes on the back of significant underperformance seen in the stock. The stock has plunged 41% over a 1-year period and is currently trading below its 50-day and 200-day simple moving averages.

In another bulk deal, French multinational bank BNP Paribas bought over 10 lakh shares in Bajaj Consumer Care Limited in a deal valued at over Rs 28 crore. BNP bough these shares through its investment arm BNP Paribas Financial Markets.

Also Read: RBL Bank bulk deal: BNP Paribas sells 60 lakh shares worth Rs 178 crore; BofA picks up stake

Landmark Cars

Goldman Sachs sold Landmark Cars’ shares at a price of Rs 361 apiece, a 2% discount over the Wednesday closing price of Rs 368.35. Goldman’s 13.75 lakh shares represented 3.32% equity in the company as on December 31, 2025.

Meanwhile, UK-based Polar Capital Funds, which held a 1.33% stake or 5.49 lakh shares in Landmark Cars as of December 31, 2025 through its Asian Stars Fund, has pared its holding to below 1% following the transaction.Shares of Landmark Cars today ended at Rs 361.65, down by Rs 6.70 or 1.82% over the last closing price.

Bajaj Consumer Care

BNP Paribas Financial Markets bought shares at a price of Rs 282.46 per share, which was at a 14% premium over the last closing price of Rs 247.55. The stock today hit 20% upper circuit to settle at Rs 297.05 on the NSE, gaining by Rs 49.50.

BNP’s stake purchase comes on the back of a strong run by the stock in the past 12 months, during which Bajaj Consumer shares have rallied 62%, significantly outperforming the benchmarks Nifty (10%) and the BSE Sensex (9%).

The stock is currently trading above its 50-day and 200-day SMA of Rs 267.7 and Rs 229.1, respectively, according to Trendlyne data.

Also read: Tata Motors (CV) block deal: BNP Paribas picks up Rs 152 crore stake as Goldman Sachs sells

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Samson Mow, the founder of Bitcoin infrastructure firm JAN3, said on social media that he expects Elon Musk to “go hard into BTC” in 2026. Reports have disclosed the comment came as part of a set of bold forecasts from Mow on January 11, 2026, and it quickly spread across crypto news sites and social feeds.

Mow’s Price Call And Market Context

Mow also attached a price target to his outlook, putting Bitcoin at $1.33 million — a rise of about 1,360% from levels near $90,590 cited in recent market data. That figure has been repeated across multiple industry outlets covering his post, and analysts are parsing what such a move would mean for funds, miners, and corporate treasuries.

Samson’s Predictions for 2026

$1.33M #Bitcoin

At least 1 country launches #BitcoinBonds
@elonmusk goes hard into BTC
$MSTR to $5,000
Bitcoin outperforms metals

— Samson Mow (@Excellion) January 10, 2026

Why The Prediction Mattered To Traders

Mow’s statement is framed as a prediction, not evidence of an actual purchase by Musk or Tesla. Multiple outlets emphasized that the post reflects Mow’s personal view of how events could unfold if a high-profile investor like Musk re-engages with Bitcoin. Headlines picked it up because Musk’s past comments and Tesla’s earlier BTC holdings have moved markets before.

MSTR And Macro Anchors

Alongside the Musk prediction, Mow forecasted MicroStrategy (MSTR) could reach $5,000 and suggested that at least one country might issue a Bitcoin bond. These points were presented as part of a broader bullish template that ties corporate demand and sovereign experiments into a faster adoption scenario.

Market Reaction And Caution

Some traders cheered the upside scenario, and others warned that Mow’s targets are aggressive compared with mainstream forecasts. Price moves after the post were modest; no verified billion-dollar purchases by Musk were reported. Several commentators urged readers to treat the forecast as one voice among many in a crowded field of crypto prognostications.

Observers said the clearest confirmations would be filings, corporate disclosures, or transaction evidence tied to Musk or his firms. Until such proof appears, the call should be viewed as a high-conviction opinion from a prominent Bitcoin advocate rather than a market fact. Market participants will also monitor on-chain flows and corporate purchase announcements for any early signs of large new holdings.

Featured image from Getty Images, chart from TradingView

The Irrigation Department announced that a major flood situation has already developed in the low-lying areas of the Mahaweli River Basin and strongly advised people living in those areas to evacuate as early as possible.

Issuing a ‘Red’ major flood warning, it said that considering the heavy rainfall continuously received in the upper catchment areas of the Mahaweli River and the water level readings of the river gauges maintained by the Irrigation Department, a Major Flood Situation has already developed in the low-lying areas of the Mahaweli River Basin, and the water levels are expected to rise further. 

Therefore, the public residing in close proximity to the Mahaweli River in these areas are kindly requested to remain extremely vigilant and to take necessary measures to protect themselves from the prevailing major flood situation, the department said. 

People living in the low-lying areas along both banks of the river are strongly advised to evacuate these areas as early as possible while relevant Disaster Management Authorities are requested to take all necessary actions in this regard.

A widely shared cycle model has reopened the debate over whether Bitcoin’s recent rally has already peaked.

According to posts on social platforms, the chart lines up past market cycles and points to a possible top on December 22, 2025, while price action near $117,000 this week keeps both cautious and bullish cases alive.

Cycle Model Points To December Peak

Based on reports, the chart tracks previous peaks occurring over 30 months after prior market lows, then extends that pattern to a 37-month span from the November 2022 bottom.

The projection places a modeled top on December 22, 2025, and the same curve gives a mid-cycle price target near $200,000.

Those time-based markers have drawn attention because they fit a clear pattern: each cycle so far has been longer than the one before it.

Veteran Trader Issues A Risk Scenario

According to public comments, veteran trader Peter Brandt has weighed in with a downside scenario. He gave Bitcoin a 30% chance of having already topped in this cycle and suggested a pullback to about $60,000–$70,000 by November 2026 could come before a later major rally toward $500,000.

I think there is a 30% chance that BTC has topped for this bull market cycle. Next stop then back to $60k to $70k by Nov 2026, then next bull thrust to $500k https://t.co/xPujqCjp9e

— Peter Brandt (@PeterLBrandt) August 15, 2025

Brandt framed his view as a probability rather than a firm prediction, and that kind of numeric thinking is meant to help traders weigh risk rather than to declare certainty.

At the time of reporting, Bitcoin was trading around $117,790, down 0.90% over the past 24 hours. Price has dropped 0.18% over the last seven days and 0.38% over the last month.

Over longer frames, BTC has risen 18% in the last six months and is up 24% year to date. Those figures help explain why opinions diverge: some see a market that has run far and fast, while others point to steady gains that still leave room for more upside.

Signals To Watch Next

Based on market practice, the clearest ways to test these scenarios are flows and positioning. Track ETF and institutional inflows, exchange balances, and derivatives data.

A steady stream of institutional buying would make a long, deep retrace less likely. On the flip side, sustained outflows, rising exchange inventory, or heavy derivative liquidations would strengthen the case for a larger pullback toward the $60k–$70k zone.

Has Bitcoin Already Peaked?

Brandt’s estimate — a 30% chance BTC has already peaked and a possible slide to $60,000–$70,000 by November 2026 before a later push toward $500,000 — gives traders a concrete downside scenario to factor into position sizing and risk plans.

Featured image from Unsplash, chart from TradingView

In the Nifty 500 pack, eight stocks’ close prices crossed above their 200 DMA (Daily Moving Averages) on July 4, according to stockedge.com’s technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:

CBS News correspondent Ramy Inocencio has the latest developments out of China on the deadly coronavirus.

The Nifty50 wrapped up a volatile week ended May 30 with a 0.4% dip yet closed the month of May on a positive note, clocking a 1.7% gain.

The broader sentiment remained buoyed by continued foreign institutional investor (FII) inflows. Data indicates that in the first half of May, FIIs focused their buying in key sectors such as automobiles, auto components, telecom, and financials — reflecting a strategic tilt toward cyclical and defensively strong counters.

May 19 — A Pivotal Date Confirmed by Price Action

Over the past three weeks, May 19 was consistently highlighted as a technically significant date. This week’s market action validated that forecast with remarkable accuracy.

On May 26 and 27, Nifty’s intraday highs coincided precisely with the May 19 peak. Despite multiple attempts, the index failed to sustain above that level — underlining the importance of this resistance zone.

Additionally, last week’s article had flagged 25,083 as a key resistance level. The high for this week? 25,079.20 — a near-exact match. This kind of precision adds credibility to both price pattern forecasting and resistance zone projections.

Time-Based Analysis: Five Days of Accurate Intraday Reversals

Harshubh Shah’s time-window forecasts once again proved to be a powerful tool for intraday traders. Each day saw the market respond with uncanny alignment to the projected reversal points:Mon, May 26: A swing low was recorded around 12:20 PM, matching the time alert.Tue, May 27: Momentum picked up at 9:20 AM, and the day low was formed exactly at 2:30 PM.

Wed, May 28: Bank Nifty bottomed at 9:25 AM, matching the projected time.

Thu, May 29: Nifty and Bank Nifty reversed sharply between 11:20 AM and 12:00 PM.

Fri, May 30: A precise day high was formed at 9:30 AM, validating the forecast.

These repeated confirmations are a strong testament to the efficacy of time-based analysis in trading strategies. For those seeking to refine their intraday edge, these time zones offer compelling tactical opportunities.

Nifty (Spot): Key Levels to Watch

Upside Targets:
24,856 → 24,978 → 25,083 → 25,323 → 25,434

Downside Supports:
24,677 → 24,535 → 24,450 → 24,360 → 24,140 → 23,820

Bank Nifty (Spot): Key Levels to Watch

Upside Levels:
55,960 → 56,180 → 56,650 → 57,600

Downside Levels:
55,230 → 54,750 → 54,289 → 53,910 → 51,889

Reversal Alert: Watch June 2, 2025

Starting June 2, traders should be alert for a potential reversal or trend validation in both Nifty and Bank Nifty. This date could serve as a springboard for directional trades with favorable risk-reward setups.

Strategy Tip:

Use June 2 as a confirmation date — whether for initiating fresh positions or managing existing trades — especially if price action aligns with support/resistance clusters or the time windows outlined above.

(The author is Director, Wealthview Analytics Pvt Ltd)

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)