Bank of Maharashtra has declared a dividend of ₹1.20 per share, announced on 20 April 2026. According to Choice, the dividend record date is set for 05 June 2026, with the ex-dividend date also falling on the same date. This latest dividend declaration reflects the company's ongoing focus on delivering value to its shareholders, following previous dividend payments of ₹1.00 per share in January 2026 and ₹1.50 per share in May 2025.
Indian equities reversed morning gains to close sharply lower, with Sensex falling 183 points to close at around 77,473 and Nifty 50 dropping 127 points or more than half a percent to end below 24,208. According to reports from LiveMint, the decline was primarily attributed to weakness in IT stocks after the US paused visa appointments amid an immigration crackdown, which rekindled margin pressure concerns. Despite early gains, sectoral divergence weighed on benchmarks through the session, with IT stocks offsetting gains in banks and metals. The broader markets ended mixed, with Nifty Smallcap 100 rising 0.8% while Nifty Midcap slipped into the red.
HDFC Bank share price slipped around 1% after a securities lawsuit was filed in the US against the bank and two of its senior executives. As reported by LiveMint, this legal development significantly impacted the banking sector's performance and contributed to the overall market decline. The lawsuit represents a significant challenge for one of India's largest private sector banks.
According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty formed a dark cloud cover pattern on the daily timeframe, raising the possibility of a bearish move in the coming days. However, he noted that the broader trend remains positive as the index continues to trade within a rising channel. The index found support just above the 50 EMA today. "Overall, range-bound trading continues, with sellers emerging at higher levels. The RSI has once again entered a bearish crossover. A fall below 24,130 could trigger a serious correction, potentially dragging Nifty towards 23,900 and 23,700. On the higher end, a rock-solid resistance is placed at 24,350. Only a sustained move above 24,350 could change the current perception; until then, choppiness is likely to prevail," according to the analyst.
Bank of Maharashtra is recommended at ₹85.55 with a target of ₹92.50 and stoploss at ₹81.50 for a 1-2 week timeframe. According to LiveMint's analysis, the stock has witnessed a sustainable breakout after consolidation and shows higher tops and bottoms pattern with expanding volume during the upside breakout. Ashok Leyland is recommended at ₹179.30 with a target of ₹190 and stoploss at ₹174 for the same timeframe, showing consistent upward movement with higher highs and lows pattern.
