ICICI Securities net doubles in Q4
ICICI Securities, soon-to-be-delisted, has reported a 104-per cent year-on-year rise in consolidated net profit for the quarter ended March 2024. Its net zoomed to ₹535.35 crore for March 2024 crore as against ₹261.95 crore reported in year-ago comparable period. Total…
DroneAcharya inks pact with CBAI Tech; stock surges over 5%
DroneAcharya Aerial Innovations Ltd has inked an agreement with CBAI Technologies Pvt Ltd for the procurement of 200 type certified training drones over a span of three years. Prateek Srivastava, Founder and Managing Director of DroneAcharya, said, “India is poised…
Infosys announces collaboration with Proximus
Infosys Ltd has announced a collaboration with Proximus, Belgium’s digital services and communications solutions provider, on the ServiceNow platform. The IT major has supported Proximus to standardise its existing processes on the ServiceNow platform and transform its customer service management…
VST Industries appoints Sanjay Wali as COO
VST Industries Ltd has appointed Sanjay Wali as its Chief Operating Officer (COO) effective from today, April 17, 2024. Wali’s experience spans over three decades, specialising in business strategy, sales, marketing, logistics, new product development, business development, and project management. He…
Broker’s call: ASK Automotive (Buy)
Target: ₹375 CMP: ₹309.20 ASK Automotive (ASK) is the leading manufacturer of 2W brake shoe and drum braking systems with a combined about 50 per cent market share. Despite being a late entrant, the company has emerged as a sizeable player…
Dynacons Systems & Solutions stock rallies 10%; bags contract from NABARD
Dynacons Systems & Solutions Ltd has secured a five-year contract from National Bank for Agriculture and Rural Development (NABARD) for ₹233 crore. As per the stock exchange filing, the project involves upgradation and migration of core banking solution (CBS) from Finacle…
Indian Indices crack amid West Asia crisis
Indian equities extended losses for a second straight day as Israel weighed its response to a direct attack by Iran. Shares fell across Asia. Gold held firm even as oil prices inched lower on hopes the diplomatic efforts would curtail…
BJP manifesto: Stocks that will gain if BJP gets third term
Following the release of the BJP manifesto for the forthcoming Lok Sabha elections, analysts of Phillip Capital stated that the impact appears positive on sectors such as automobiles, cement, metals, real estate, financials, pharma, FMCG, hotels and airlines if the…
Most PMS schemes beat Nifty in FY24
The majority of portfolio management services (PMS) schemes outperformed the benchmark Nifty 50 and BSE 500 in financial year 2024 amid a rally in mid and small-cap stocks. As much as 80 per cent, or 264 of the 324 schemes,…
A slew of new fund offers – time to take a deep look
Even as the primary market is buzzing with activity, mutual fund is not far behind, thanks to a vibrant secondary market. With most benchmarks from BSE Sensex and NSE Nifty50 to SmallCap/MidCap hitting new highs, fund houses are launching new…
Aster DM declares ₹118/share as special dividend
The board of Aster DM Healthcare on Friday approved a special dividend of ₹118 a share payable to those shareholders whose names stand on the Register of Members of the Company as on April 23 (record date). The dividend will…
Emerging-market bulls tout Modi premium as election nears
Under Prime Minister Narendra Modi, India’s stocks have commanded an unprecedented premium to emerging-market peers. As he seeks a third successive term, investors are betting that the performance can continue. Modi is likely to spend heavily on manufacturing and infrastructure…
Indices crack amid negative global cues
Indian equities slid over 1 per cent on Friday amid selling by overseas investors and negative global cues. The possibility of fewer rate cuts by the US Federal Reserve this year, surge in commodity prices and the amendment in the…
Manorama Industries initiates commissioning process for new fractionation plant
Manorama Industries Limited’s shares were up by 5.39 per cent after the company commenced the commissioning of its new fractionation plant in Raipur. The company informed, the plant has an annual capacity of 25,000 tonnes, is expected to enhance the…
– The Hindu BusinessLine
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Vakrangee partners with Max TV to provide OTT services
Vakrangee Ltd has partnered with Global One Enterprises Pvt Ltd (Max TV) to provide subscription-based OTT plans through Vakrangee Kendra networks. Under the partnership, Max TV will be able to cross-sell various plans through Vakrangee Kendra networks. Also read: If…
CLSA warns Vodafone Idea share price could drop to ₹5
Even as Vodafone Idea (Vi) is looking to do a follow-on public offer to raise ₹20,000 crore, analysts at CLSA warned that shares of the cash-strapped telecom operator could drop as much as 61 per cent to ₹5, if the…
Paytm shares decline 4% after CEO resigns
Shares of One97 Communications, Paytm’s brand owner, on Wednesday declined 4 per cent after Paytm Payments Bank’s Managing Director and CEO, Surinder Chawla, resigned from the company. The stock dipped 4 per cent to ₹388 on both the BSE and…
Sensex scales mount 75k, hits fresh intraday high
The benchmark Sensex hit a fresh high and nudged past the psychological mark of 75,000 on Tuesday before slipping in late trade due to profit booking. Also read:Markets settle lower after hitting record peaks in intra-day; Sensex breaches 75,000-milestone The…
Strides Pharma receives USFDA approval for Fluoxetine tablets
Strides Pharma Science Ltd has received approval from the United States Food & Drug Administration (USFDA) for its Fluoxetine tabs in 10 mg and 20 mg strengths. The newly approved Fluoxetine tablets are bioequivalent and therapeutically equivalent to the Reference…
– The Hindu BusinessLine
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Edelweiss Financial Services launches ₹200-crore NCD issue
Edelweiss Financial Services Ltd’s ₹200-crore public issue for Secured Redeemable Non-Convertible Debentures with a face value of ₹1,000 each, opened on April 8. The issue, which includes a green shoe option of up to ₹100 crore, will close on April…
Pre-IPO investment sees 3x surge in FY24
Companies that made their debut on the bourses in the last financial year raised over ₹1,300 crore by way of pre-IPO placements. Also read:Unrealistic valuations could hit IPO prospects of internet companies This is three times the amount collected through…
Four of top 10 valued firms add ₹1.71 lakh crore to mcap; HDFC Bank, LIC lead gainers
Four of the top 10 valued firms added ₹1,71,309.28 crore to their market valuation last week with HDFC Bank and Life Insurance Corporation of India (LIC) emerging as the biggest gainers in line with an overall positive trend in equities….
APSEZ: What Should Investors Do?
Last week, APSEZ announced the acquisition of Gopalpur Port in Odisha, which will make it the seventh Indian port to be acquired by the company since 2014. It currently has a total capacity to handle around 607 million metric tonnes…
Bharti Hexacom IPO subscribed 30 times, thanks to QIBs
Thanks to a strong response from institutional investors, the public issue of Bharti Hexacom was subscribed nearly 30 times. The ₹4,275-crore issue, which opened at a price band of ₹542-570 on Wednesday, received bids for 123.24 crore shares against an…
Vijay Kedia-backed TAC Infosec jumps 3-fold on listing
TAC Infosec, risk and vulnerability management company, on Friday made a strong debut on the NSE Emerge platform. The stock was listed at ₹290, a premium of 174 per cent over IPO price of ₹106. The stock rose further to…
Globus Spirits to form a joint venture with ANSA McAL
Globus Spirits Limited has agreed to forge a joint venture partnership with ANSA McAL Limited. Under this agreement, the companies will establish an equally owned joint venture in India to engage in manufacturing, sourcing, and distribution of beer. “We believe…
Broker’s call: Muthoot Finance (Buy)
Target: ₹1,948 CMP: ₹1,664.85 Muthoot Finance is in a sweet spot, given robust growth prospects backed by sound fundamentals and sectoral tailwinds. Fundamentals are underscored by proven moats of leadership and higher productivity (AUM per branch at ₹14.50 crore vs…
Sensex, Nifty fall in early trade after touching all-time highs
Benchmark equity indices fall on Thursday after Sensex and Nifty touching their all-time high levels, with investors opting for value-buying in bellwether stocks ahead of quarterly result announcements amid mixed global trends. The 30-share BSE Sensex surged 497.06 points or…
Sensex, Nifty end flat amid volatility
Benchmark indices Sensex and Nifty, which opened on negative note tracking global markets, especially the US, ended flat on Wednesday. The 30-share BSE Sensex declined by 27.09 points to close at 73,876.82, recovering from day’s low of 73,757.23. The broader…
equity markets fall in early trade amid negative global trends
Benchmark equity indices Sensex and Nifty declined in early trade on Wednesday amid weak global trends, higher crude oil prices, and outflow of foreign funds. The 30-share BSE Sensex declined 281.18 points or 0.38 per cent to 73,622.73. The NSE…
Shorter settlement has benefited market: SEBI chief
The adoption of a shorter settlement cycle has benefited the securities ecosystem, said the chief of Securities and Exchange Board of India (SEBI). Speaking at an annual summit on corporate governance organised by the Confederation of Indian Industry, SEBI chief…
Nifty, Sensex marginally lower; small-caps and midcaps make gains
The NSE Nifty was down by 0.05 per cent or 12.20 points to 22,449.80, while the BSE Sensex was at 73,958.3, down by 0.08 per cent or 56.25 points. A total of 3,224 stocks were actively traded, 2,374 advanced, while…
Indices start new fiscal on winning note, hit fresh highs
Indian equities started the new financial year on a strong note, hitting fresh highs, amid positive global cues. The Sensex ended with a gain of 363 points, or 0.49 per cent, at 74,014. The Nifty rose to 22,462, up 0.6…
EaseMyTrip acquires ETrav Tech; stock rises
EaseMyTrip.com has invested in E Trav Tech Ltd consisting of 4.94 per cent (post allotment) paid-up equity share capital of the company. ETrav Tech provides travel-related services, ranging from Flight API, and holiday packages to Hotel API, white label, Bus…
F&O Strategy: Bull Call Spread on HDFC Bank
The stock of HDFC Bank (₹1,447.90) has been consolidating in recent weeks since a sharp fall in November. The stock finds immediate support at ₹1,400 and ₹1,304. A fall below the latter will change the outlook negative. On the other…
F&O Tracker: Rudder in Bulls’ Hands
Nifty 50 (22,327) and Bank Nifty (47,125) extended the gain for the second week as they appreciated 1 per cent and 0.6 per cent respectively in the last week. Below is an analysis of the derivatives data of both indices….
Income Tax dept targets startups over share premium, issues notices
Mumbai Income tax authorities have issued notices to several startups in connection with the share premium money they received a couple of years ago, said two people in the know. The tax department has asked for details of the nature…
Investors reap rich harvest in both equity and gold amid huge volatility in FY24
With both equity and gold prices hovering around record highs, market experts believe investors should review their portfolio and book some profit from equity for allocation to gold, as it has more steam to rally after the US rate cut….
India Inc mop-up via IPO rises 19% to ₹61,000 crore in FY24
The funds mobilised by India Inc through the IPO route in this financial year was up 19 per cent to ₹61,000 crore compared to ₹52,116 crore raised in FY23. Also read:Why India Inc is slow to adopt AI tech However,…
Broker’s call: BEL (Buy) – The Hindu BusinessLine
Target: ₹250 CMP: ₹201.45 Bharat Electronics Ltd (BEL) was founded in 1954 under the aegis of the Government of India’s Ministry of Defence, with a primary objective to fulfill the electronic equipment necessities of the defence sector. The organisation is…
Indian equities beat most major markets in FY24
The benchmark indices logged gains on the last trading session of the financial year aided by positive global cues. The Sensex rallied nearly 1,200 points, intra-day before closing at 73,651, up 0.9 per cent. The Nifty rose 0.9 per cent…
FPI flows into India hit record ₹3.33 lakh crore this fiscal year
India got overseas flows to the tune of ₹3.33-lakh crore, or $40.4 billion, in equities, debt and hybrid instruments put together this financial year, a record for any year. This is 25 per cent higher than the previous high of…
Crizac files DRHP with SEBI to raise up to ₹1,000 cr via IPO
Student recruitment solution provider Crizac has filed preliminary papers with markets regulator SEBI to raise up to ₹1,000 crore through an initial public offering (IPO). The IPO, with a face value of ₹2 per equity share, is entirely an offer…
Market extends uptrend; consolidation expected before April’s new directional trend
NSE Nifty was up by 0.69 per cent or 151.45 points to 21,156.40, while the BSE Sensex was at 72,978.73 up by 0.70 per cent or 504.49 points. A total of 3,314 stocks were actively traded, of which 1,987 advanced,…
BSE set to roll out T+0 settlement from Thursday
BSE Limited is “fully geared” to launch the beta version of T+0 settlement for 25 securities starting March 28, its MD & CEO Sundararaman Ramamurthy said on Tuesday. On strategic plans to increase its share in India’s derivatives market, Ramamurthy…
Fall in mid, smallcaps may spur rejig in MF flows
Small- and mid-cap schemes are likely to see lower inflows in March after the recent correction in the space and the regulatory diktat to conduct stress tests on such schemes, said industry officials. Also read:MF small-cap schemes plunge into the…
Asian Paints hit with environment damage compensation from Gujarat Pollution Control Board
Asian Paints Ltd. said the Environment Engineer of the Gujarat Pollution Control Board, Gandhinagar, imposed an interim environment damage compensation (EDC) of ₹10 lakh on the company on March 6, 2024. According to the company’s stock exchange filing, the direction…
Investors vote against Religare Enterprises proposals
The shareholders of Religare Enterprises have voted against both the company’s proposal to invest in its subsidiary MIC Insurance Web Aggregator and the proposal changes to the Article of Association. Also read:All disclosures on MIC investment made: Religare Enterprises With…
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Midcap space most expensive segment of the market: Aniruddha Naha, CIO, Alternatives, PGIM India AMC
Equities may give high single-digit or low double-digit returns this year given the inflation scenario, rising raw material costs, and subdued earnings growth over the next two quarters, says Aniruddha Naha, CIO, Alternatives, PGIM India AMC. Naha believes that commodity…
Heavy subscription does not guarantee listing gains
A recent trend in the primary market offers a valuable lesson for traders, especially those who wish to bet on high subscription figures. With certain company IPOs being fully subscribed within minutes or hours, there arises a temptation for some…
Broker’s call: Punjab National Bank (Buy)
Target: ₹140 CMP: ₹122.70 Punjab National Bank`s return ratios have been still depressed versus its peers due to higher provisions and high operational costs but is likely to improve hereon. Earlier, credit cost was higher led by higher net NPA…
Broker’s call: Adani Ports (OP)
Target: ₹1,562 CMP: ₹1,280.95 Adani Ports and SEZ (ADSEZ) has consistently gained market share, driven by organic growth from its Gujarat-based ports and through strategic acquisitions at reasonable valuations. The turnaround of these acquired assets has accelerated its market share…
Sensex, Nifty set to open higher; IT stocks in focus
India’s equity benchmarks BSE Sensex and NSE Nifty50 are likely to open marginally higher on Friday after joining the global rally in the previous session as the US Federal Reserve stuck to its rate cut forecast, while other Asian peers…
Midcap Opportunities in Current Sell-Off: HSBC Global Research
HSBC Global Research prefers large-caps but sees opportunities in the current mid-cap sell-off too. The research house remains constructive on the broader market and ruled out any deep sell-off in mid-caps from current levels. It said that mid-cap valuations had…
Markets Set to Rise on Positive Global Cues: US Fed Holds Rates
The domestic markets are expected to see a sharp rise at open, thanks to positive global cues triggered by US Federal’s expected stance. Holding the key interest rates unchanged for 5th straight time at 5.50 per cent, the US Fed…
Subhash Chandra gets relief against SEBI’s summons
Market regulator SEBI has given an undertaking in the Bombay High Court that it will not take any action against Subash Chandra for a period of three weeks. Chandra had filed a writ petition against SEBI’s summons in a case…
Sensex Nifty likely to open on a positive note
Domestic markets are expected open on a flat note with a positive bias on Wednesday. Analysts said the selling in small- and mid-cap stocks may moderate. However, they do not expect any quick buying from these segments. Meanwhile, as the…
World’s largest sovereign fund ups India bet in CY23
Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund with a portfolio value in excess of $1.4 trillion, raised its India bets last year amid a surge in Indian equities. Its Indian holdings as a percentage of its…
Sun Pharmaceuticals receives approval for Winlevi in Australia
Sun Pharmaceutical Industries Limited has announced that the Australian Therapeutic Goods Administration (TGA) has granted regulatory approval for Winlevi, a clascoterone cream. According to the company’s regulatory filing, Winlevi is indicated for the topical treatment of acne vulgaris in patients…
No major concern in small-cap stress test, says Birla MF chief
Mutual fund investors should not read too much into the outcome of just concluded stress test conducted on small- and mid-cap schemes of the industry and stay invested for over 5-10 years to reap the full benefit of investment in…
Sensex, Nifty likely to open with negative bias
Domestic equity benchmarks BSE Sensex and NSE Nifty are expected to open with negative bias on Monday despite mixed trend in Asia Pacific region. Analysts expect market to remain in a range with dates for general election being announced. Experts…
US Fed interest rate decision key event to watch out for this week: Analysts
Stock markets would take cues from the biggest event of the week — the US Fed interest rate decision, besides tracking the trends in global markets and trading activity of foreign investors, analysts said. Also read: Gold glitters on cues…
Allowing pledging of equities by AIFs for infra projects a win-win
The Securities & Exchange Board of India recently came out with a consultation paper to give flexibility to Category I and II AIFs to create encumbrance on their holding of equity in infrastructure sector investee companies to facilitate raising funds…
Broker’s call: Vinati Organics (Accumulate)
Target: ₹1,844 CMP: ₹1,583.10 Vinati Organics enjoys global leadership in two specialty chemicals, with a market share of 70 per cent in IBB (isobutyl benzene) and 80 per cent in ATBS (2-Acrylamindo 2-Methylpropane Sulfonic Acid). In 9MFY24, revenue dipped by…
Beta version of same-day settlement gets SEBI nod
The board of Securities and Exchange Board of India (SEBI) on Friday gave its nod for the launch of a beta version of optional T+0 settlement for 25 scrips with a limited set of brokers. The board has approved a…
Broker’s call: JB Chemicals & Pharma (Add)
Target: ₹1,720 CMP: ₹1,550.75 We hosted investors for a visit to JB Chemicals’ Daman lozenges facility to better understand the outlook. Key takeaways include: Geographical expansion with same customer, tech transfer for customer owned product and owned product push are…
Domestic shares set to open flat; all eyes on small-, mid-cap funds’ stress tests
Domestic shares are set to open little changed on Friday, as investors brace for the results of a stress test of small- and mid-cap mutual funds amid concerns of froth in these segments, while global stocks fell on rising worries…
Broker’s call: Balrampur Chini (Buy)
Target: ₹500 CMP: ₹356.05 The current share price of Balrampur Chini (trades at 10.5xFY26EPS), we believe, disregards: improving sugar prices (ex-mill sugar price at 37-38/kg despite the peak production season) with likely reduction in acreage in Maharashtra and Karnataka (water…
Domestic shares set to open flat; small-, mid-caps in focus ahead of stress test results
Domestic shares are set to open little changed on Thursday, following profit-booking in the previous session, with focus on small- and mid-cap stocks ahead of the stress test results of mutual funds in those segments. The GIFT Nifty was trading…
Vedanta to appeal against SEBI order levying ₹78 crore penalty
Anil Agarwal-led Vedanta has decided to contest the SEBI order of levying a penalty of ₹78 crore on delayed dividend payments to Cairn UK Holdings (now Capricorn UK Holdings) Ltd (CUHL). The dividend payment to CUHL was withheld due to…
Domestic shares likely to track Asian peers higher
Domestic shares are set to open higher on Wednesday, tracking Asian markets after a largely in-line US inflation data failed to impact expectations of a Federal Reserve rate cut in June, and as domestic consumer prices eased slightly in February….
Bharat Highways InvIT ends 2% higher on listing day
Units of Bharat Highways InvIT made a decent debut at the bourses. Against IPO price of ₹100, the units were listed at ₹101 and rose further to hit a high of ₹104 before closing at ₹103.05 on the BSE. On…
Domestic shares set to open higher taking cues from Asian peers
Domestic markets are set to open higher on Tuesday, tracking gains in broader Asian peers, while investors await the domestic and US inflation prints. The GIFT Nifty was trading at 22,452 as of 0752 a.m. IST, indicating that the Nifty…
SEBI expands framework for qualified stock brokers
SEBI on Monday expanded its framework for qualified stock brokers (QSBs), setting out three additional parameters for their identification that includes brokers’ compliance score, proprietary trading volumes and grievance redressal mechanism. Brokers can now voluntarily opt to become QSBs. Also…
Stock Market Live Updates – The Hindu BusinessLine
RVNL: Company gets letter of award for projects worth ₹1,298.2 crore from Himachal Pradesh Electricity Board Titagarh Rail: The Company has bagged the contract from the Railway Board for Manufacture and supply of 4,463 BOSM Wagons for a contract value…
SEBI notifies regulations for small and medium REITs
Securities and Exchange Board of India has notified the regulations for small and medium real estate investment trusts and specified that investment managers of such REITs should have a minimum net worth of ₹20 crore and the REITs can raise…
India to see record FPI inflows in FY24 on strong economic growth
The current fiscal year FY24 is set to end with record net inflows from Foreign Portfolio Investors (FPIs) into the Indian market, with net investments close to ₹12,000 crore ($1.4 billion) in March first week, after a tepid show in…
Venus Remedies gets marketing authorisation for oncology drugs in Ukraine
Venus Remedies has received marketing authorisation for its oncology drugs in Ukraine. This includes Paclitaxel, 100mg/16.7mL, 260mg/43.3mL, 300mg/50mL and 30mg/5mL, Oxaliplatin in concentrations of 50mg/10mL and 100mg/20mL, and Irinotecan in formulations of 100mg/5mL and 40mg/2mL. The company had been awarded…
Small-cap mutual fund inflows moderate by 10% in February amid large-scale redemption
Inflows into small-cap mutual fund schemes moderated by 10 per cent last month to ₹2,922 crore against ₹3,257 crore in January due to large-scale redemption amid concern over high valuation and strong signals from SEBI on the froth developing in…
Innerwear company Bummer raises ₹9.25 crore in funding
Bummer, an innerwear company has raised ₹9.25 crores in a Pre-Series A1 funding round. Also read: Lux Industries expecting good growth in mid-premium segment The funding spearheaded by Gruhas Collective Consumer Fund marks one of their first investments as a…
Colossa WomenFirst fund raises ₹100 crore in its first close
On the eve of International Women’s Day, Colossa Ventures, a SEBI registered venture capital management company, has announced the first close of its maiden fund – Colossa WomenFirst Fund at ₹100 crore. Also read: Women-led startups see $100 million in…
Broker’s call: Deepak Nitrite (Buy)
Target: ₹2,565 CMP: ₹2206.95 We believe Deepak Nitrite’s MoU for investment of ₹14,000 crore (₹12,500 crore for phenol/acetone downstream and INR 15bn for specialty) (to be completed by CY27) will put it in the league of chemical giants such as…
Stock Market Live Updates 7 March 2024: Asian stocks rise as Powell hints at rate cuts this year
Stocks in Asia rose Thursday after US equities advanced, helped along by comments from Federal Reserve Chair Jerome Powell that interest rates will likely fall this year. Shares in Australia and Japan gained ground, while futures in Hong Kong also…
Gender diversity in mutual funds: Why women fund managers lag behind
Good returns over the last year have made investors happy, but mutual funds are still lagging behind in gender diversity. Of the 473 fund managers in the industry, only 42 were women managing funds as primary or secondary managers, as…
Stock Market Live Updates 6 March 2024: Asia stocks drop as tech Drags, China in focus
Stocks in Asia fell after tech heavyweights dragged down US indexes ahead of Federal Reserve Chair Jerome Powell’s testimony to Congress. Equity benchmarks edged lower in Japan, South Korea and Australia, per a Bloomberg report. Investors are closely watching the…
HFCL-backed Exicom Tele makes stellar debut as stock jumps 59%
Shares of Exicom Tele-Systems made a strong debut at the bourses on Tuesday after a blockbuster IPOs. Shares of HFCL-backed Exicom Tele listed with 61 per cent premium at ₹264 against the IPO price of ₹142 and moved up further…
Broker’s Call: Gulf Oil (BUY)
Target: ₹1,250 CMP:L ₹1,067.10 We initiate coverage on Gulf Oil Lubricants (GOLI) with a Buy rating and a TP of ₹1,250. GOLI is the second largest private player in petroleum lubricant space, with an estimated 7-8 per cent market share…
Stock Market Live Updates 04 March 2024: Asian equities advance ahead of China policy week
Asian stocks rose Monday, tracking US shares higher into a week that includes Federal Reserve boss Jerome Powell’s congressional testimony and China’s National People’s Congress, per a Bloomberg report. Japan’s Nikkei-225 Stock Average surpassed 40,000 for the first time as…
Gold, silver remain range-bound – The Hindu BusinessLine
Extending the lacklustre trend witnessed in January, precious metals remained range-bound and the price action was devoid of any direction in February. The strength in the U.S. dollar and the recovery in the equity markets dented sentiments towards the precious…
NSE crosses nine crore unique investors mark
The National Stock Exchange (NSE) on Friday said its unique registered investors have surpassed nine crore, with the latest one crore additions taking place in just five months. Also read: SEBI’s concerns mount with flows into small/mid-cap funds The investor…
Sensex and Nifty close at record high levels during the special live trading session
Equity benchmark indices Sensex and Nifty ended at new closing high levels in the special trading session on Saturday, extending their previous day’s sharp rally, amid impressive GDP data and foreign fund inflows. Also read: Sensex, Nifty log fresh highs…
IPO-bound RK Swamy mops up ₹187 cr from anchor investors
RK Swamy Ltd on Friday raised about ₹187 crore from 18 anchor investors ahead of its initial public offering (IPO), which opens on March 4 and closes on March 6. The Chennai-based company, which is engaged in the business of…
Broker’s call: Juniper Hotels (Buy)
Target: ₹545 CMP: ₹479.60 Juniper Hotels, jointly promoted by the Saraf Group and Hyatt Hotels Corporation (HHC), and backed by its niche positioning in the luxury hotel development segment is the largest owner (1,836 rooms) of Hyatt-affiliated hotels in India….
Sensex, Nifty end positive amid volatility
Benchmarks closed in green on Thursday at the end of a range-bound trade ahead of release of key economic data. Besides, monthly F&O expiry and MSCI rebalancing volumes added to the volatility, said market observers. While BSE Sensex advanced 195.42…
IPOs of Exicom Tele, Platinum Industries see blockbuster response
The public offerings of Platinum Industries and Exicom Tele-Systems received blockbuster response from all category of investors. The former was subscribed 99 times and the latter even better at 130 times. The ₹235.32-crore initial public offering of Platinum Industries came…
Benchmark Indian indices slid 1% on weak global cues
Benchmark indices ended a per cent lower on Wednesday amid profit booking and weak global cues. The Sensex was down 790 points or 1.08 per cent at 72,304.88, while the Nifty was down 247 points or 1.11 percent at 21,951….
Sensex, Nifty tumble over 1% due to selling in Reliance, bank stocks
Benchmark Sensex tanked more than 1 per cent while Nifty declined below the 22,000 level on Wednesday pulled down by selling in heavyweight Reliance Industries and bank stocks amid weak global market trends. The 30-share BSE Sensex fell by 790.34…
RK Swamy public issue to open on March 4
The Chennai-based RK Swamy will launch its initial public offering on March 4, according to red herring prospectus filed with SEBI. The company is expected announce the price band this week. The offer includes a fresh issue of ₹173 crore…
Stock markets rebound on gains in index heavyweights, firm global trends
Benchmark equity indices Sensex and Nifty rebounded on Tuesday following buying in index major Tata Consultancy Services, Tata Motors and Sun Pharma amid mostly firm global markets. The 30-share BSE Sensex climbed 305.09 points or 0.42 per cent to settle…
Broker’s call: IndiGo (Reduce) – The Hindu BusinessLine
In the past four months, through September 2023–January 2024, InterGlobe Aviation (IndiGo) lost domestic market share from the peak of 63.4 per cent to 60.2 per cent, which mirrored the strong fleet addition by competitors at 26 narrow body aircraft…
SBI Energy Opportunities fund gets ₹6,700 crore in NFO
SBI Mutual Fund, the largest fund house in the country, has collected over ₹6,700 crore through its latest fund offering – SBI Energy Opportunities Fund. Also read: SBI MF aims to garner ₹4,000 crore via energy opportunities NFO It has…
Anvil PMS to shut shop amid regulatory glare
Anvil Wealth Management (AWM) is winding down its portfolio management services (PMS) business, said two people in the know. The decision to shut shop comes in the aftermath of SEBI’s interim order in March last year, which restrained six entities,…
BSE Chief Urges Policy Action for Further Expanding Capital Markets
India’s policymakers and think tanks need to come up with steps that grow the depth and width of the country’s capital markets, Sundararaman Ramamurthy, MD&CEO, BSE has said. Also read: Markets to focus on global trends; may face volatility amid…
UAE’s exit from FATF grey list to boost FPI flows, investment into Indian NBFCs
The United Arab Emirates’ exit from the the grey list on Friday, nearly two years after its inclusion by the Financial Action Task Force, will ease the road for the country’s investors seeking to acquire significant influence in Indian NBFCs….
Juniper Hotels IPO sails through on QIB bidding
The ₹1,800-crore initial public offering of Juniper Hotels was subscribed fully on the last day of issue closing on Friday, thanks to qualified institutional buyers. The IPO saw a lukewarm response from non-institution investors whose portion was undersubscribed at 0.85…
SEBI plans to make nomination optional for joint MF portfolios
Capital market regulator SEBI has excluded investment made through ETFs and index funds from the regulations on exposure to a single stock of own group companies and nomination has been made option for joint investments in mutual fund schemes. In…
How to avoid falling prey to fake stock trading scams: Tips from Hyderabad police
You must be lucky if you haven’t been approached by fake stock market traders on a direct call or through social media platforms such as Telegram, WhatsApp, Instagram and Facebook. Lately, anonymous calls from various cities, such as Indore, Bengaluru,…
Indices reverse early losses to make fresh highs
Indian equities overcame Fed jitters and reversed early losses to make fresh highs on Thursday. The Sensex surged 535 points to 73,158, and the Nifty rose 162 points to 22,217. Cash market volumes on the NSE were a bit lower…
Olectra Greentech bags order for 2,400 electric buses; stock surges
Olectra Greentech Ltd has been awarded a contract from Brihan Mumbai Electric Supply & Transport Undertaking (BEST) for supply of 2,400 electric buses. The company’s stock ended 1.95 per cent higher on the NSE, closing at ₹2,102.95. The stock had…
Despite RBI restrictions, MFs hiked stake in Paytm in January
Mutual funds holding in troubled Paytm (One 97 Communication) have increased 70 per cent to ₹3,384 crore in January compared with ₹1,995 crore in December as they ramped up exposure to average cost. Investors who have bought stock at a…
Ambuja Cement proposes setting up cement grinding unit in Godda, Jharkhand
Ambuja Cements, part of Adani Group, has proposed to establish a cement grinding unit with an investment of ₹1,000 crore in Motia Village of Godda district in Jharkhand, post requisite approvals, with a capacity of 4.0 MTPA. The project is…
Hindalco subsidiary Novelis files papers with SEC for IPO
Aditya Birla Group company Novelis Inc has filed papers with the US market regulator Securities and Exchange Commission relating to the proposed initial public offering of its common shares. Novelis, the leading aluminium solutions provider and the world leader in…
PNB MetLife unveils Small Cap Fund for ULIP Segment
PNB MetLife India Insurance Company on Monday launched PMLI Small Cap Fund, a new fund within the Unit Linked Insurance Plan (ULIP) segment. The fund will offer policy holders an opportunity to create wealth over the policy life by investing…
Stock markets advance for 5th day; Nifty hits record high, Sensex up 281 points
Stock markets closed higher for the fifth consecutive day on Monday with the benchmark Sensex rising 281 points and Nifty scaling its fresh lifetime high driven by gains in financial and FMCG shares. The BSE Sensex rose by 281.52 points…
Global trends to guide stock markets this week: Analysts
Indian stock markets are expected to be driven mostly by global factors this week amid a lack of local triggers and earnings season largely coming to an end, say analysts. Crude oil prices, rupee movement and US Federal Reserve meeting…
More PMS schemes outperform benchmarks than mutual funds: PMS Bazaar
A study by PMS Bazaar that analyzed 335 PMS investment approaches and 388 mutual funds (regular funds) across one, three, five and 10-year periods showed that PMS investment approaches outperformed their benchmarks by 70 per cent on average across all…
How previous general elections have impacted Sensex and Nifty 50 performance: Insights for investors
General Elections 2024 is one of the biggest events to watch this year. A study on the Indian stock market performance in the previous election years shows that whatever the case ahead of the elections and its outcome, the Indian…
Entero Healthcare ends 8.6% lower on listing day
Shares of Entero Healthcare Solutions made a weak beginning at the bourses on Friday. Against the IPO price of ₹1,258, shares of the healthcare products distributor opened in discount at ₹1,245 and closed at 8.62 per cent lower at ₹1,149.50…
Alpex Solar jumps threefold on NSE-Emerge listing
Shares of Alpex Solar made a stellar listing at NSE-Emerge platform. As against the IPO price of ₹115, the stock was listed at with a huge premium of ₹345.45 and surged further to ₹362.70 — a gain of 215 per…
Markets extend winning run to 4th day as auto, IT shares advance
Equity benchmark indices marched higher for the fourth straight session on Friday, with Nifty closing above the 22,000 level, tracking gains in index majors L&T, Infosys and M&M, amid a firm trend in the global markets. The 30-share BSE Sensex…
Carlyle sells Yes Bank shares worth ₹1,056 crore
Carlyle Group has sold equity stake worth ₹1,056 crore in Yes Bank through open market transaction. Carlyle Group sold 1.35 per cent stake at an average price of ₹27.10 per share. Of the 390,000,000 shares sold in the open market,…
Markets extend gains for third day on buying in HDFC Bank, M&M
Equity benchmark Sensex climbed over 225 points to reclaim the 72,000-mark on Thursday, while the Nifty settled close to the 22,000 level, supported by hectic buying in market heavyweights M&M, HDFC Bank and SBI amid a largely firm trend in…
Signpost hits new high on debut
Share of the merged entity of Pressman Advertising and Signpost India, the Digital Out of Home advertising company, started trading on Wednesday and hit the upper circuit of ₹327 on NSE and ₹318 on BSE. The listed entity Signpost India…
Broker’s call: MCX (Sell) – The Hindu BusinessLine
Target: ₹2,796 CMP: ₹3,353.35 In Q3-FY24, Multi Commodity Exchange of India (MCX) delivered revenue growth of 33.4 per cent on a YoY basis on the back of improving ADT of Options contracts, which increased by 143.6 per cent on a…
Broker’s call: Coal India (Add)
Target: ₹458 CMP: ₹452.40 Coal India reported higher than estimate EBITDA ex OBR at ₹11,900 crore (CentrumE: ₹10,950 crore), up 6.2 per cent y-o-y/ up 34 per cent q-o-q and EBITDA/t declined by 2.4 per cent y-o-y at ₹624/t (CentrumE:…
Stock markets rebound on buying in banking, IT stocks
Benchmark indices Sensex and Nifty rebounded on Tuesday on buying in banking, financial services and IT sector stocks. The BSE Sensex surged 482.70 points or 0.68 per cent to settle at 71,555.19. The gauge moved between the day’s high of…
Alpex Solar IPO subscribed over 300 times
The NSE-Emerge IPO of Alpex Solar has received an overwhelming response from the investors with the issue being subscribed 301.45 times. The ₹74.52-crore IPO, that was open between February 8–12, came out with a price band of ₹109-115. The Greater…
Benchmark indices tumble on profit booking
Benchmark stock indices Sensex and Nifty closed sharply lower on Monday amid a rush for profit taking and mixed trends in global markets. The BSE Sensex settled 523 points or 0.73 per cent lower at 21,612.45. The benchmark touched the…
Inflation, industrial production data, global trends to drive market trends this week: Analysts
Stock markets would take cues from the upcoming macroeconomic data announcements and global trends besides keeping a watch on the trading activity of foreign investors, analysts said. The last batch of the ongoing earnings calendar would trigger stock-specific action, traders…
Mcap of 4 most-valued firms jump ₹2.18 lakh crore; LIC, SBI lead gainers
Four of the top-10 most valued firms together added ₹2.18 lakh crore in market valuation last week, with Life Insurance Corporation and State Bank of India emerging as the biggest gainers. Also read: Inflation, industrial production data, global trends to…
Technical Analysis: Godfrey Phillips India, Gujarat Gas and HCL Technologies
Godfrey Phillips India (₹2,366.3) Uptrend is intact Godfrey Phillips’ stock was tracing a horizontal trend in the second half of last year. It was oscillating between ₹2,020 and ₹2,200. But a fortnight ago, the stock broke out of the range…
Investors have to watch out for one more risk now — ED/IT raid!
Nowadays, Central Government agencies such as the Income-tax department and the Enforcement Directorate (ED) are creating ripples in financial markets, with a host of companies coming under their radar. Some developments that have created shockwaves include raids/ searches on Polycab…
Analysts weigh reasons for runaway PSU rally
The runaway rally in shares of public sector companies has made analysts dig deeper on the reasons driving the rally. The BSE PSU index has risen by about 92 per cent in the last year compared with 18 per cent…
Biocon subsidiary partners with Sandoz Australia
Biocon’s subsidiary, Biocon Biologics Ltd (BBL), a fully integrated biosimilar company, has announced a five-year partnership with Sandoz AG (Sandoz). The association aims to promote, sell, and distribute biosimilar Trastuzumab and biosimilar Bevacizumab in Australia. Also read:Biocon Ltd reports Q3…
SEBI asks Zee Business guest experts to pay ₹7.41 crore for ‘unlawful’ gains
The Securities and Exchange Board of India (SEBI) on Thursday asked 15 guest experts including Nirmal Kumar Soni, Partha Sarathi Dhar, Simi Bhaumik, Mudit Goyal, Himanshu Gupta, Ashish Kelkar and Kiran Jadhav, appearing on the Zee Business news channel to…
Pyramid Technoplast acquires land to set up manufacturing unit in Maharashtra
Pyramid Technoplast Ltd. has signed an MoU for acquisition of 10 acres of land on an outright basis at a value of ₹12 crore in Wada, Palghar district, within the Konkan division of Maharashtra. A new manufacturing unit will be…
Atmatsco plans for ₹60 cr via IPO
Headquartered in Bhilai, Chhattisgarh, Atmatsco is offering 73.05 lakh shares, of which 54.80 lakh will be a fresh issue and 18.256 lakh shares through an offer-for-sale (OFS). The stock will be listed on NSE Emerge. The issue size is ₹60…
DroneAcharya Aerial Innovations bags export order for Defence FPV Drones; stock rises
DroneAcharya Aerial Innovations Ltd has announced the acquisition of an export order for Defense FPV (First Person View) drones, in collaboration with its associate company Drone Entry (Thailand). Key features of the drones include equipped security and surveillance, advanced imaging…
Thanks to IT stocks, Sensex, Nifty recover
Benchmarks BSE Sensex and NSE Nifty advanced on buying in IT stocks and expectations of a status-quo in the policy rates of the Reserve Bank of India (RBI) which is set to announce its revised monetary policy on Thursday. Besides…
Infibeam Avenue partners with IDFC First Bank
Infibeam Avenues Ltd’s flagship payment brand, CCAvenue, entered into a partnership with IDFC First Bank to offer extensive credit card EMI solutions to the bank’s customers nationwide. According to the company, this collaboration aims to enhance the payment experience for…
Broker’s call: Kaynes Tech (Accumulate)
Target: ₹3,100 CMP: ₹2,884.50 Kaynes Technology Q3 revenue surged 76 per cent y-o-y to ₹510 crore, 10 per cent higher than our estimates. Revenue was led by healthy B2B demand and strong order backlog. Revenue from the industrials segment spiked…
TCS stock rose over 1%; announces partnership with Europ Assistance
Tata Consultancy Services stock rose by 1.15 per cent on the NSE, trading at ₹4,011.90 as of 2.07 pm on Monday. The stock had hit a 52-week high today at ₹4,022. The company has signed a deal to transform Europ…
Why Should Investors Book Profits in Gujarat Fluorochem?
We recommended that investors buy the stock of Gujarat Fluorochem (GFCL) in December 2022, then trading at 24 times one-year forward earnings (FY24). The stock has since delivered 28 per cent returns and is now trading at even higher forward…
RBI interest rate decision, global trends, earnings to dictate stock markets, say analysts
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI’s interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors…
Meta, Nvidia, Microsoft, Amazon, Apple, Alphabet and Tesla: Do the ‘Magnificent 7’ still have fire power?
The week gone by had it all. Resurfacing jitters of regional banking crisis in the US resulted in bond yields collapsing significantly in early part of the week. Then, a hawkish Fed pushing back expectations of interest rate cuts last…
Aadhar Housing files for ₹5,000-crore IPO
Mortgage lender Aadhar Housing Finance has filed draft papers for an initial public offer with a size of ₹5,000 crore, of which ₹4,000 crore is an offer for sale by promoter Blackstone, which holds 98.7 per cent stake now. The…
Mastering Derivatives: Avoiding Active Management of Delta-neutral Trades
Delta-neutral trades require active management. These are trades that involve taking long positions in, say, lower strike calls and short positions in higher strike calls such that the delta of the long position is equal to the delta of the…
Nava Q3 profit at record ₹465 crore, shares up
Nava Ltd’s shares spurted 3.44 per cent after the company reported that it had reduced its consolidated debt by 93 per cent compared to that in December 2022, signalling the likelihood of it becoming debt-free by the end of the fiscal…
IPO screener: BLS E-Services closes today
The initial public offering of BLS E-Services will close for public subscription today. The issue has received a strong response from retail investors and high net worth individuals. The IPO that plans to raise ₹311 crore, has a price band…
Sensex, Nifty hold steady ahead of Budget, Federal Reserve meet outcome
The NSE Nifty was down 0.04 per cent or 7.65 points at 21,718.04 points, while the BSE Sensex was at 71,725.06, down by 0.04 per cent or 27.05 points. A total of 2,918 stocks were actively traded, 1,662 advanced, while…
LIC closes above IPO price for first time since listing
Shares of Life Insurance Corporation closed above the IPO price for the first time on Wednesday since its listing in May 2022. The stock closed at ₹949.75 on both the NSE and the BSE, a tad above the IPO price…
UGRO Capital raises Rs 250 crore from ADB for small businesses, shares up
Ugro Capital Ltd. announced raising Rs 250 crore through Non-Convertible Debentures from the Asian Development Bank. The company reported the investment is ADB’s commitment to fostering inclusive, resilient, and sustainable prosperity by supporting small businesses at the grassroots level. The…
Bajaj Finance shares slump over 5% on rising stress in B2C loan portfolios.
Shares of Bajaj Finance slumped over 5 per cent on Tuesday after the NBFC highlighted rising stress in its rural and urban B2C loans portfolios in its Q3 earnings. On January 30, the stock fell 5.4 per cent to Rs…
Suzlon secures 642 MW wind power project order from Evren
Suzlon Energy Ltd’s shares were up by 1.92 per cent after the company bagged an order from Evren Company, ‘ABC Cleantech Pvt Ltd (ACPL),’ a joint venture between Brookfield and Axis Energy. The order involves supply of 214 wind turbine…
Sundaram’s Multi-Asset Allocation Fund garners ₹1,890 crore
Sundaram Mutual Fund said that its latest new fund offer of the Multi-Asset Allocation Fund has garnered ₹1,890 crore, with participation from over 83,000 investors. “This milestone marks a significant achievement for the brand, making this its 2nd largest NFO,”…
Zen Technologies’ shares rise on third-quarter results
Zen Technologies Ltd’s shares were up by 5 per cent after the company reported financial results for the third quarter. Revenue increased 198 per cent, EBITDA surged 371 per cent, and PAT rose 317 per cent during this period. Ashok…
Companies opting for IFSC listing may face several bumps
Indian companies wanting to list on the international exchanges at GIFT IFSC may face a number of roadblocks. The norms that were notified on Wednesday allow only the ‘permissible holder’ to invest, trade, or hold equity shares of Indian companies…
BLS E-Services IPO opens on Jan 30; price band set at ₹Rs 129-135/share
Technology-backed service provider BLS E-Services Ltd has set a price band of ₹129-135 per share for its initial public offering (IPO), that will open for bidding on January 30. Also read:IPO screener: Nova Agritech’s blockbuster issue closes today The issue…
How the “unluckiest investor” fares in the long run
Investing in the stock market for the long term is safe and rewarding, says Monika Halan, a prominent personal finance writer and television personality. In a conversation with businessline, at the HinduLitForLife event here today, Monika took the hypothetical case…
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Technical Analysis: Petronet LNG and ONGC
What is the outlook for Petronet LNG for the next two-three months? I am holding the stock and my average purchase price is ₹228. Can I exit at current levels? Ashish Petronet LNG (₹256.60): The outlook is bullish. Petronet LNG…
F&O Strategy: Buy Infosys Call
The short-term outlook turned positive for the stock of Infosys (₹1,669.1). The IT major finds immediate support at ₹1,560 and ₹1,427. The nearest resistance is at ₹1,720. A close above that level will trigger a fresh rally. In that event,…
Groww adds a million active traders in December quarter
Tiger Global-backed wealth management start-up ended 2023 with 7.6 million active traders, as per data from the NSE. Also read: Companies opting for IFSC listing may face several bumps While Zerodha had around 6.7 million active traders, Mumbai-based AngelOne ended…
Nova Agritech IPO turns blockbuster, subscribed 109 times
The initial public offering of Nova Agritech saw overwhelming response from all category investors with the issue being subscribed over 109 times, as non-institutions bid aggressively. The IPO, which came out with a price band of ₹39-41, received bids for…
Titagarh Rail Systems collaborates with Amber Group, shares up
Titagarh Rail Systems Limited’s shares were up by 1.95 per cent after the company along with Amber Group reported an alliance. The collaboration involves a joint investment of up to ₹240 crore in a special purpose vehicle (SPV), where TRSL…
Tata Metaliks fixes Feb 6 as record date for merger with Tata Steel
Tata Metaliks has fixed February 6 as the record date for the proposed merger with Tata Steel. According to the scheme of amalgamation, TML shareholders will be entitled to receive fully paid-up ordinary equity shares of Tata Steel Ltd on…
Equity benchmark indices decline in early trade
Equity benchmark indices witnessed a see-saw movement in the early trade on Wednesday amid high volatility, as investors rushed to book profit in high-value stocks. The BSE Sensex fell 316.75 points or 0.45 per cent to 70,053.58 points in the…
Medi Assist Healthcare ends 11% higher on Day 1 of listing
Shares of Medi Assist Healthcare Services ended with a premium of 11 per cent on Tuesday at ₹464.25 on the BSE against the issue price of ₹418. During the day, the stock hit a high of ₹509.60 and a low…
ICICI Bank hits record high on profit beat, margin comfort
Shares of ICICI Bank hit a record ₹1,059.4 on Tuesday after its third-quarter profit beat estimates on robust loan growth and margins met expectations. The private lender rose as much as 5 per cent in the session and was the…
Wall Street record propels Japan’s Nikkei to fresh 34-year peak
Japan’s Nikkei share average rallied to a fresh 34-year peak on Monday as the US S&P 500’s record-high close on Friday buoyed investor sentiment, despite continued signs of overheating in the Asian market. The Nikkei climbed as much as 1.59…
Sony sends termination letter to Zee over India merger
Sony Group Corp. has officially notified Zee Entertainment Enterprises Ltd. it plans to call off the merger between its India unit and the media network, ending a two-year acquisition saga and leaving Zee vulnerable to competition as rivals bulk up….
Technical Analysis: Britannia Industries, Punjab National Bank and TVS Motor Company
Britannia Industries (₹5,163.2) Rally to resume Britannia Industries’ share price has been on a decline since the beginning of this year. It fell off ₹5,375, thus indicating that this is a resistance. But towards the end of last week, there…
EPACK Durable IPO: Four Things To Know Before Subscribing
The initial public offering (IPO) of the Noida-based contract manufacturer of room airconditioner (RAC), EPACK Durable, opened on January 19 and will accept subscriptions till January 23, 2024. The total offer is worth around ₹640 crore out of which ₹400…
HCL Technologies: Why Investors Can Book Profits in this Stock
At bl.portfolio, we had started taking a cautious approach to IT stocks since mid-2021 when valuations started getting frothy. Since then, there has been quite a significant time-wise, and also in many cases, absolute correction in stocks in the sector….
Sensex, Nifty likely to remain subdued today
Domestic markets are likely to open flat and remain listless today. The focus will be on big ticket banking and finance companies such as ICICI Bank, Kotak Mahindra Bank, Can Fin Homes, IDBI, IDFC First Bank and IREDA. Participation from…
BSE, NSE to function on Saturday; Monday holiday
Equity and derivatives markets of BSE and the National Stock Exchange will function normal on Saturday i.e. from 9:15 a.m. to 3:30 p.m., without the planned disaster recovery movements. However, the markets will remain shut on Monday, as the Maharashtra…
IPO screener: Epack Durable issue opens today at ₹218-230
The ₹640-crore initial public offering of Epack Durable will open for public subscription today and close on January 23. The IPO comes with a price band of ₹218-230 and the market lot is 65 shares. The company has reserved not…
BNP Paribas expects Nifty to hit 23,500 by year-end, Emkay sees 24,000 coming
Global financial advisory firm BNP Paribas expects Nifty to post a high single-digit return in 2024 while domestic brokerage Emkay Global Financial anticipates an 11 per cent return. “While most factors remain favourable for Indian equities in 2024, valuation comfort…
Markets tumble in early trade; fall for 3rd day running
Benchmark equity indices Sensex and Nifty tanked in early trade on Thursday, falling for the third day running, as investors continued to book profits after the recent record-breaking rally. Also, fresh foreign fund outflows dampened the mood. The BSE Sensex…
Indices tank over 2% on Fed talk, shadow over bank stocks
Benchmark indices went into a free fall on January 17, tanking over two per cent, to post their biggest single-day loss in the last one-and-a-half years. HDFC Bank’s disappointing third quarter results, along with hawkish Fed commentary, escalating tension in…
Morning market: BSE Sensex down by 700 pts; Nifty over 200 pts
The BSE Sensex declined by 722.22 points or 0.99 per cent as of 9:55 am on Wednesday at 72,406.55, while Nifty 50 was down by 212.60 points or 0.96 per cent at 21,819.70. As of 10:04 am, all sectoral indices,…
Broker’s Call: L&T (Outperform) – The Hindu BusinessLine
Target: ₹4,020 CMP: ₹3,573.80 Our interactions suggest that investors are concerned about the security situation in the Middle East, following attacks on ships in the Red Sea by Houthi rebels in Yemen. In our view, a key material negative development…
Sensex, Nifty set to open little changed
India’s benchmark index Nifty 50 is set for a muted start on Tuesday, tracking Asian peers ahead of key economic data from China, after a recent rally to record highs. India’s GIFT Nifty was trading at 22,107 as of 7:58…
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Sensex jumps 759 pts to close at record high, Nifty scales 22K mount on sharp gain in IT shares
Benchmark Sensex closed above the 73,000 level for the first time while broader Nifty scaled the 22,000-point peak on Monday as key stock indices stayed on the record-breaking run powered by a rally in IT shares, Reliance and HDFC Bank….
Markets hit record peaks: Sensex breaches 73,000 level for first time; Nifty goes past 22k mark
Benchmark equity indices hit record peaks in early trade on Monday, with the Sensex breaching the 73,000 milestone for the first time ever and the Nifty surging past the historic 22,000-mark, driven by a sharp rally in IT stocks. Also…
Broker’s call: Shyam Metalics (Buy)
Target: ₹780 CMP: ₹682.90 Shyam Metalics and Energy’s (SMEL) Dec’23 volume stayed robust on finished steel front with revenue rate picking up. Key points: Rebar shipments at 130kt rose to their highest-ever level for any month; pellet sales declined y-o-y…
GHCL’s shares surge 2.17% on ₹3,450 crore investments in Gujarat
GHCL Limited’s shares were up by 2.17 per cent after the company signed two Memorandums of Understanding (MOUs) during the Vibrant Gujarat Summit, outlining investments totalling Rs 3,450 crore in Gujarat. The MOUs were inked in the presence of the…
Asian Energy secures ₹21.9 crore contract from Eastern Coalfields for Rajmahal project; stock gains over 2%
Asian Energy Services Ltd clinched a contract from Eastern Coalfields Limited (ECL), a subsidiary of Coal India Limited. The contract entails the construction of plough feeders and associated civil works at the existing coal handling plant in Rajmahal, Jharkhand’s Godda…
Veranda Learning and Tapasya Educational join forces for comprehensive student-centric offerings
Veranda Learning Solutions Limited’s shares were up by 2.08 per cent after the company acquired a 50 per cent stake in Tapasya Educational Institutions Private Limited for Rs 120 crore. The company reported, the addition of Tapasya will enhance Veranda’s…
SEC charges Morgan Stanley, Pawan Passi in front-running case
The Securities and Exchange Commission (SEC) on Friday charged investment banking major Morgan Stanley & Co. LLC and the former head of its equity syndicate desk, Pawan Passi, in a front-running case. According to the US market regulator, the banking…
Polycab faces investor scepticism after income-tax findings; analysts unconvinced
Income-tax findings on an “unnamed” company perceived to be Polycab Industries and the company’s clarification failed to convince analysts. The Polycab stock corrected 21 per cent to ₹3,905 on Thursday because of a Ministry of Finance release suggesting tax evasion…
Broker’s call: Vedanta (BUY) – The Hindu BusinessLine
Target: ₹362 CMP: ₹274.60 The successful debt restructuring at Vedanta parentco Vedanta Resources (VRL) removes a major overhang on the stock. The restructuring comes at a higher cost, but gives Vedanta a two-year breather to focus on ongoing aluminium/zinc capex…
Sensex, Nifty climb in early trade on firm global trends
Benchmark equity indices climbed in early trade on Thursday amid a rally in global markets and buying in Reliance Industries. The 30-share BSE Sensex jumped 341.76 points to 71,999.47 in early trade. The Nifty climbed 107.8 points to 21,726.50. Among…
jsw cement prepares ground for 6500 cr ipo
After the successful venture into automobile sector, Sajjan Jindal-led JSW Group is preparing the ground for listing its cement business on stock exchanges to raise about ₹6,500 crore. Sources said JSW Cement has reached out to domestic and foreign investment…
Markets decline in early trade on fresh foreign fund outflows, weak global trends
Benchmark equity indices declined in early trade on Wednesday amid fresh foreign fund outflows and a largely weak trend from global markets. Investors preferred to stay on the sidelines ahead of the start of corporate earnings season and macroeconomic data…
Govt should think differently while selling stake in listed PSUs
Public sector companies or PSUs are an important resource for the Centre when it comes to fund raising but that is proving a Herculean task, especially from listed ones. By selling stake, the Centre achieves twin targets of meeting minimum…
India gains heft in MSCI EM index
India has toppled Taiwan to take the second place in the MSCI EM Index, with a weightage of 17.1 per cent. The country’s representation in the index is poised to top 20 per cent in the coming months, according to…
Edelweiss Financial’s Rs 250-cr NCD public issue to open on Jan 9
Edelweiss Financial Services’ has announced a Rs 250-crore public issue of NCDs, with yield of up to 10.46 per cent per annum. The NCDs carry CRISIL A+/Stable and ICRA A+ (rating watch with negative implication). The issue, which will open…
Broker’s call: Sobha (Buy) – The Hindu BusinessLine
Target: ₹1,400 CMP: ₹1,297.50 After underperforming its listed peers on pre-sales growth over FY21-23, we believe Sobha is set to outperform in terms of growth given its focus on unlocking its vast land reserve and exploring external growth opportunities through…