Indian firm inks deal to explore EV production facility in Saudi Arabia

RIYADH: Saudi Arabia’s Tadawul All Share Index remained steady on Sunday, with a slight improve of 4.36 factors, or 0.04 p.c, to shut at 11,760.3.  

The full worth traded through the day was SR4.26 billion ($1.14 billion) as 59 shares superior, whereas 159 retreated.  

Elm Co., Dallah Well being Co., and Jamjoom Pharma Co. have been the highest performers of the day, with their share costs rising 4.34 p.c, 4.11 p.c and three.71 p.c, respectively.  

The worst performer on Sunday was Saudi Printing and Packaging Co. with its share worth falling 7.28 p.c.  

Alkhaleej Coaching and Schooling Co. and Takween Superior Industries Co. adopted, dropping 6.08 p.c and 5.27 p.c, respectively.  

The Kingdom’s parallel market, Nomu, surged 727.97 factors, or 3.13 p.c, to shut at 24,005.37 with 21 gainers and 25 losers.  

However, MSCI Tadawul Index rose by 3.23 factors, or 0.21 p.c, to shut at 1,551.33. 

On the bulletins entrance, Ataa Instructional Co. reported that its subsidiary agreed to buy all of the shares of Glory Era Worldwide College Co.  

The bourse assertion famous that the subsidiary, the Arab Group for Schooling and Coaching Co., acquired shares valued at SR3.85 million.  

This acquisition is in line with Ataa’s plan to increase into the academic market with a view to maximize return on fairness for the agency’s shareholders.  

Arab Nationwide Financial institution reported an increase in its internet earnings within the first half of 2023 to SR3.4 billion from SR2.4 billion in the identical interval final yr.  

In a Tadawul assertion, the financial institution attributed the surge in internet earnings to the online particular fee earnings, internet charges and fee earnings in addition to internet different working earnings.  

Moreover, internet trade earnings and the lower in internet impairment cost for anticipated credit score losses and different provisions additionally contributed to the earnings surge.  

Moreover, Saudi Tadawul Group Holding Co. registered a 23.6 p.c annual lower within the second quarter of this yr.  

The corporate achieved a internet revenue after zakat of SR105.2 million through the three-month interval, from SR137.7 million in the identical interval of 2022, the corporate assertion confirmed.