Sensex drops 533 pts in broad selling; IT, metals worst hit; VIX jumps 4%

Stock market highlights on Monday, February 26, 2024: The Nifty50 shut shop at 22,122, down 91 points or 0.41 per cent. The mid, small-cap indices fell up tp 0.3 per cent.

3:41 PM

Broader indices :: Mid, SmallCap indices close up to 0.38% lower

3:39 PM

Nifty Heatmap :: Adani stocks rally, help Nifty fare slightly better than Sensex

3:38 PM

Sensex Heatmap :: 26 of 30 index stocks close in red; L&T, HDFC Bank among outrunners

3:36 PM

CLOSING BELL :: Nifty holds 22,100 sa index falls for 2nd day

3:35 PM

CLOSING BELL :: Sensex slides over 350 pts

3:23 PM

RBI lifting curbs on forex non-deliverable forward arbitrage by banks

The RBI had imposed an informal ban on dollar/rupee arbitrage trades in August 2023, when it was intervening to prevent the rupee from slipping to a record low, while banks were taking advantage of price differences between the OTC and NDF markets. READ MORE

3:03 PM

Global economy weighed down by war, uncertainty & instability: WTO chief

The head of the World Trade Organisation warned on Monday that war, uncertainty and instability are weighing down the global economy and urged the bloc to embrace reform as elections across nearly half the world's population could bring new challenges. READ MORE

2:53 PM

Paytm up 5%: Here's why foreign brokerages remain bullish on the stock

Shares of One97 Communications (OCL), which provides financial services under the brand 'Paytm', and has a banking arm Paytm Payments Bank (PPBL), hit the 5 per cent upper circuit at Rs 428.10 on the National Stock Exchange (NSE) in Monday's intraday trade. READ MORE

2:41 PM

Adani Dharavi project's biz units to get SGST refund post redevelopment

SGST will be reimbursed by the state government's finance department and the business units will have to provide SGST payment details as proof while claiming the refund. READ MORE

2:31 PM

PB Fintech zooms 9%, hits 52-week high in weak market; stock up 41% in 2024

Shares of PB Fintech, the parent company of Policybazaar, jumped 9 per cent to a fresh 52-week high of Rs 1,119 per share on the BSE in Monday's otherwise weak session. At 1:25 PM, the benchmark S&P BSE Sensex was down 0.3 per cent as against 7 per cent rally in the counter. READ MORE

2:14 PM

Indian hotel industry to report 7-9% revenue growth in FY25: ICRA

The research firm said that spiritual tourism and Tier 2 cities are expected to contribute meaningfully to the overall demand in the next fiscal. READ MORE

2:00 PM

Rain Industries tumbles 11% on Q4 loss

Rain Industries reported a net loss of Rs 1,118.80 crore for the December quarter, while revenue from operations declined over 24% to Rs 4,101 crore. READ MORE

1:45 PM

Subhash Chandra 'not cooperating' with investigation, says Sebi

The Securities Appellate Tribunal (SAT) on Monday gave the market regulator 10 days to file a reply in an appeal filed by Essel Group Chairman Subhash Chandra in the alleged fund diversion case. READ MORE

1:29 PM

Alkem Labs sinks 14% to 3-month low on reports of tax evasion of Rs 1000 cr

Shares of Alkem Laboratories (Alkem) slumped 14 per cent on BSE to touch the lowest level in nearly three months in Monday's trade after reports said that the income tax department found tax evasion of over Rs 1,000 crore by the company. Read

1:15 PM

SpiceJet rallies over 4% as it settles dispute with Celestial Aviation

Shares of budget-carrier SpiceJet zoomed 4.4 per cent to Rs 70.4 apiece on the BSE in Monday's intraday trade after the airline told the National Company Law Tribunal (NCLT) that their dispute with aircraft lessor Celestial Aviation is "practically settled" and only formalities remain. Read

1:01 PM

Data Patterns surges 24% in 3 days after govt eases space FDI norms

Shares of Data Patterns (India) rallied 8 per cent to hit a record high of Rs 2,550 on the BSE in Monday’s weak intra-day trade. The stock surpassed its previous high of Rs 2,484 touched on September 1, 2023. In comparison, the S&P BSE Sensex was down 0.5 per cent at 72,781 at 12:31 PM. Read

12:46 PM

Adani shares buck trend, rally up to 5% in a slippery market

Shares of Adani Group were seen outperforming in Monday's intra-day deals, with gains up to 5 per cent in an otherwise slippery market. Read

12:33 PM

Intellect Design up 3%; Société Générale implements co's CTX platform

Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena said its Corporate Treasury eXchange (CTX) platform has been successfully implemented in France by Société Générale. 

12:25 PM

One-year ascent: Mutual funds go from Rs 40 trillion to Rs 53 trillion

The journey of mutual funds (MFs) from Rs 40 trillion to nearly Rs 53 trillion in the past year is mostly driven by mark-to-market gains in the equity segment and appreciation in the value of debt and gold assets. Read

12:15 PM

Overseas loans' share in total Adani group debt portfolio declines

The share of foreign loans in total Adani group debt portfolio dropped to 61 per cent by September 2023 from 63 per cent as of March 2023, as the group repaid part of its foreign loans and refinanced part of older loans.  
 

The share of Indian lenders, on the other hand, rose to 39 per cent in the total debt pie in September 2023 from 37 per cent in March after a report by US-based short seller Hindenburg Research in January last year, which led to volatility in the share prices of group companies. Read

12:03 PM

Tata Group eyeing $1-2 bn IPO of electric vehicle arm in 12-18 mths: Report

The Tata Group is eyeing to list its electric vehicle (EV) unit Tata Passenger Electric Mobility Ltd (TPEM) as it aims to monetise its investments in the EV business, reported BusinessLine.
 

As per the report, the Tata group is aiming for a $1-2 billion initial public offering (IPO) of the EV unit and the listing could happen in the next 12–18 months. Read

11:48 AM

SpiceJet gains 2% as Celestial Aviation to withdraw insolvency plea against co

Aircraft lessor Celestial Aviation to withdraw insolvency plea 

 

Payment dispute with lessor celestial aviation has been settled, SpiceJet tells NCLT. 

11:39 AM

Realty, consumer services, capital goods see biggest m-cap expansion in 5 years

Real Estate, Consumer Services, and Capital Goods have experienced the largest market cap expansion over the last five years, while Media, FMCG, Auto, and IT have lagged behind the broader market trend, showed data analysed by Yes Securities. Read

11:29 AM

This beverages stock has zoomed 107% in 8 months; hits Rs 2 trn market cap

Shares of Varun Beverages (VBL) hit a new high of Rs 1,560.30, up 3 per cent on the BSE in Monday’s intra-day trade in an otherwise weak market on healthy growth outlook in the forthcoming years.
 

In past one month, the stock has outperformed the market by surging 24 per cent, as compared to 1.3 per cent rise in the S&P BSE Sensex. Further, in past eight months, the market price of VBL has more-than-doubled or zoomed 107 per cent. Read

11:15 AM

Improving leasing trends to support and lay bricks of value for Reits

With the quarter witnessing the highest quarterly gross leasing for a few listed players, coupled with expectations of rising demand for office space, it is positive for listed commercial developers as well as real estate investment trusts (Reits). Read

11:02 AM

Near-term demand remains a concern for listed tile maker Kajaria Ceramics

The December quarter performance of the country's largest listed ceramic tile maker, Kajaria Ceramics, was subdued. Weak domestic demand in the quarter weighed on volumes, while revenues were also below par due to muted realisations. The stock has fallen 9 per cent from its highs this month, given a disappointing Q3 and near-term demand concerns for the rest of FY24. Read

10:43 AM

Paints shares lose sheen post Birla Opus launch; Asian Paints at 10-mth low

Shares of paint companies were under pressure, falling up to 5 per cent on the BSE in Monday's intra-day trade amid concerns that Grasim's entry into the paint sector will intensify the competition.
 

Shares of Asian Paints hit a 10-month low of Rs 2,850, as they slipped nearly 5 per cent after the brokerage firm CLSA downgraded the stock post Birla Opus launch. The stock of the paint maker was trading at its lowest level since April 28, 2023. Read

10:25 AM

Rural Indians are now spending more on processed food, drinks than cereals

For the first time, the share of beverages and processed food (including purchased cooked meals) in the total spending of rural Indian households has crossed that of cereals, according to the latest Household Consumption Expenditure Survey (HCES) released by the Ministry of Statistics and Programme Implementation (MoSPI). Read more

10:13 AM

Paytm gains 5% as RBI asks NPCI to become third-party application provider

Shares of One97 Communications (OCL) were locked in the 5 per cent upper circuit at Rs 428.10 on NSE in Monday's intraday trade after the RBI asked NPCI to look into the possibility of migrating Paytm Payments Bank customers, using the UPI handle '@paytm', to four-to-five other banks, in order to prevent any disruptions in the payment ecosystem. Read

10:06 AM

Skipper rallies 6% on winning Rs 737 crore order from Power Grid