Sensex sinks 736pts, Nifty tests 21,800 in broad-selling; IT index sheds 3%

Stock market highlights on Tuesday, March 19: TCS was the biggest laggard on the benchmark indices, down 4 per cent after Tata Sons likely sold about 0.6 per cent stake in the company

3:46 PM

Market breadth was fairly negative; 2,571 stocks declined, while 1,246 advanced on the BSE

3:44 PM

Sectoral ALERT:: Nifty IT index slumps 3%; TCS drops 4%

3:42 PM

BSE Smallcap Heatmap:: Rama Steel zooms 20%; Indiabulls RealEstate tanks 10%

3:41 PM

BSE Midcap Heatmap:: Torrent Power, CG Power gain up to 4%; CRISIL sheds 5%

3:39 PM

Broader Market Check:: MidCap, SmallCap indices slide over 1%; VIX rises 1.5%

3:37 PM

Sensex 30 Heatmap:: 24 Losers v/s 6 Gainers

3:36 PM

CLOSING BELL:: NSE Nifty50 plunges 238 pts to 21,817

3:34 PM

CLOSING BELL:: S&P BSE Sensex ends 736 pts lower at 72,012

3:22 PM

Bajaj Finance rises 2% in weak market; BNP Paribas sees up to 35% upside

Brokerage firm BNP Paribas India initiated coverage on the stock with outperform rating and a target price of Rs 9,040. READ MORE

3:12 PM

India's exports may reach $450 bn this fiscal: FIEO Prez Ashwani Kumar

He also said that despite issues, exports rose about 12 per cent in February to $41.40 billion. During April-February 2023-24, exports reached $395 billion. READ MORE

3:02 PM

ALERT:: Tata Steel board approves NCD issue worth Rs 2,700 cr; stock trades flat

Tata Steel in an exchange filing today said the company's board approved issue of 2.70 lakh non-convertible debentures (NCDs) amounting to Rs 2,700 crore on private placement basis. 

2:50 PM

Patanjali Foods declines 5% as SC summons Ramdev in misleading ads case

The Supreme Court summoned Baba Ramdev and Acharya Balkrishna to appear personally in court for failing to respond to a show cause notice in contempt proceedings. READ MORE

2:37 PM

Nykaa has huge lead, edge over its competitors: Founder Falguni Nayar

The comments assume significance in the backdrop of stiff competition unfolding in India's rapidly-growing beauty e-commerce space. READ MORE

2:25 PM

Unilever to separate its ice cream biz, cut 7,500 jobs in restructuring bid

The move is part of a broader restructuring as Schumacher tries to jumpstart growth. Unilever said the job cuts, which will affect mainly office-based roles, are part of a plan to achieve €800 million. READ MORE

2:08 PM

ALERT:: Sun Pharma gets nod to sell acne treatment cream Winlevi in Australia; stock marginally down

India’s Sun Pharmaceutical said on Tuesday the Australian Therapeutic Goods Administration (TGA) has approved its Winlevi (clascoterone) cream 1% for treating acne vulgaris in patients aged 12 and older. READ MORE

1:55 PM

Global check:: Asian markets exhibit mixed trade after BoJ first rate hike in 17 years

1:43 PM

Grasim secures Rs 1,250 cr from International Finance Corp; stock trades 1% down

The investment by IFC, World Bank's private sector arm, will be in the form of a subscription to non-convertible debentures (NCD) issued by Grasim. READ MORE

1:31 PM

Bankrupt airline Go First's bidder ups bid following nudge from banks

Go First, which filed for bankruptcy in May last year, received two financial bids as part of its bankruptcy process, the second being Sharjah-based Sky One Airways, Reuters had reported. READ MORE

1:15 PM

ALERT:: Garden Reach Ship reschedules board meet to Mar 26; stock trades flat

Garden Reach Shipbuilders in an exchange filing today said that the board meeting scheduled for March 21, to consider increase in authorized share capital has been revised to March 26.

1:01 PM

PF: Allowances you can claim under new tax regime to reduce your taxable income

The government introduced the new tax regime to streamline the process of filing taxes, aiming to make it more straightforward for taxpayers. The main goal was to simplify the tax filing experience by eliminating the need for taxpayers to navigate through numerous deductions and exemptions to decrease their taxable income. Read

12:46 PM

Vishwas Agri Seeds' Rs 26 crore SME IPO to open Mar 21: Check issue details

The brand "Vishwas" enjoys a strong presence in the market, the company claims, as over the years it has developed a robust network of distributors across states like Gujarat, Rajashtan and MP. Read

12:30 PM

ASK Hedge Solutions aims to raise Rs 3,000 cr in maiden long-short NFO

ASK Hedge Solutions, a subsidiary of Blackstone-backed ASK Asset and Wealth Management Group, on Tuesday launched its first long-short fund, ASK Absolute Return Fund with an aim to raise up to Rs 3,000 crore. Read

12:14 PM

Time to start buying small-cap, mid-cap stocks for the long-term: Analysts

After a sharp correction in the markets that saw the mid-and small-cap stocks take a beating in the last few weeks, analysts at slowing turning optimistic on these two market segments. They advise investors start selectively nibbling on these counters from a long-term perspective, but caution against sharp bouts of volatility in both these segments in the next few months. Read

11:55 AM

Nifty FMCG declines 2%, HUL hits 52-week low: What's behind the selling?

Shares of fast moving consumer goods (FMCG) companies were reeling under selling pressure on Tuesday amid concerns of rising input costs hitting margins.
 

The Nifty FMCG index declined 1.7 per cent to 52,940 level in the intraday trade, dragged by Nestle India (down 3.3 per cent), Colgate Palmolive (3.25 per cent), Godrej Consumer Products (3 per cent), United Breweries (2.4 per cent), Tata Consumer Products (2.38 per cent), and United Spirits (2 per cent). Read

11:41 AM

JBM Auto surges 10% as arm bags Rs 7,500 cr order for 1,390 electric buses

Shares of JBM Auto surged 10 per cent on BSE to Rs 2,060.60 in Tuesday’s intra-day trade after the company's arm bagged an order for 1,390 electric buses from Convergence Energy Services (CESL) worth nearly Rs 7,500 crore. Read

11:31 AM

Ashok Leyland partners with Minus Zero to develop self-driving trucks

Indian automaker Ashok Leyland has partnered with Minus Zero to develop self-driving trucks, the autonomous driving technology startup said on Tuesday. The self-driving trucks will initially be developed for ports, factories and corporate campuses, the Bengaluru-based Minus Zero said in a statement. Read

11:15 AM

BPCL, HPCL, IOC down for 3rd straight day; slip upto 25% from 52-week highs

Shares of state-owned oil marketing companies (OMCs) continued to remain under pressure, falling another 4 per cent on the BSE in Tuesday's intra-day trade.
 

In past three days, Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) have delcined between 8 per cent and 11 per cent on concerns that government's decision to cut retail prices of petrol and diesel could hurt the companies' profit margins in the near-term. Read

11:03 AM

Domino's, Subway supplier Chatha Foods' SME IPO opens today: Check details

The initial public offering of small and medium enterprise (SME) Chatha Foods will open for public subscription on Tuesday, March 19 and close on Thursday, March 21. The price band for the offer is Rs 53-56 and the company is aiming to raise Rs 34 crore via a fresh issue of nearly 6 million shares. Read

10:44 AM

Poonawalla Fincorp announces appointment of Arvind Kapil as MD & CEO

Non-Banking Financial Company (NBFC) Poonawalla Fincorp on Monday announced the appointment of Arvind Kapil as Managing Director (MD) & Chief Executive Officer (CEO) of the company.
 

The current MD & CEO of the company, Abhay Bhutada, has been elevated to a group-level role and will be taking up a strategic position at the Cyrus Poonawalla Group, managing its strategy, investment, and finance. He will continue to serve as a non-executive director on the board of Poonawalla Fincorp. Read

10:31 AM

Popular Vehicles and Services makes weak debut, falls 8% post listing

Popular Vehicles and Services made a weak stock market debut on Tuesday, with its shares getting listed at Rs 289.20, a 2 per cent discount to its issue price of Rs 295 per share on the National Stock Exchange (NSE). The stock of the auto dealer company listed at Rs 292 on the BSE. Read