Market Highlights, Sept 17: Sensex up 90pts, Nifty holds 25,400; BHFL hits upper band for 2nd day

Stock Market Highlights: As many as 29 constituent stocks on the Nifty50 ended in the red, dragged by Tata Motors, Eicher Motors, Tata Steel, Coal India, and JSW Steel

3:58 PM

Stock Market Comment: 'Nifty continues to consolidate near its all-time high'

Nifty continues to consolidate near its all-time high, where a trendline resistance is observed. A breakout from the recent range-bound pattern could provide a clear direction for the Nifty. Immediate support is at 25,350, and a fall below this level might lead to the unwinding of put option writing positions, potentially triggering a correction toward 25,000. On the upside, resistance is seen at 25,500, and a strong upward move may be expected if Nifty breaks above this level.

Views by: Rupak De, Senior Technical Analyst, LKP Securities.

3:53 PM

Stock Market Comment: 'Indian markets consolidate ahead of US Fed'

The Indian market exhibited a subtle positive momentum, driven by the anticipation of a rate cut cycle by the US FED. Although a 25-bps cut is largely factored in, the market remains attuned to the FED's comments on the health of the economy and the future trajectory of rate cuts. Further, robust institutional flows continued to bolster the domestic market. While the overall trend remained positive, there was notable buying interest in large-cap stocks, particularly in sectors such as IT, FMCG, and private banks.

Views by: Vinod Nair, Head of Research, Geojit Financial Services

3:49 PM

Stock Market Closing Bell LIVE Updates: Bajaj Housing Finance hits upper band for 2nd day

>> Bajaj Housing Finance share price rises for 2nd day

>> Bajaj Housing Finance shares surge 9.9%, hitting Rs 181.5-mark on the BSE

3:45 PM

Stock Market Closing Bell LIVE Updates: Mid, SmallCap indices end in the red on Tuesday

>> BSE MidCap index slips 0.08%, BSE SmallCap index down 0.13%

3:42 PM

Stock Market Closing Bell LIVE Updates: Media, PSU Bank indices end weak

>> Media index fell over 1% today, followed by the Nifty PSU Bank index (down 0.6%)

>> The Nifty Realty index, on the other hand, gained 0.6%

3:39 PM

Stock Market Closing Bell LIVE Updates: Gainers, Losers tie on Sensex

>> Bharti Airtel, M&M, NTPC, Titan, L&T, and Kotak Bank close as top gainers on the Sensex today

>> Tata Motors, Adani Ports, JSW Steel, ITC, Tata Steel end as top Sensex losers today
 

3:36 PM

Stock Market Closing Bell LIVE Updates: Sensex ends with gains of less than 100 pts today

>> BSE Sensex closed at 83,079.66, up 90.88 points or 0.11%

3:33 PM

Stock Market Closing Bell LIVE Updates: Nifty holds 25,400 for 2nd day

>> NSE Nifty ends at 25,418.55, up 34.80 points or 0.14%

>> Nifty hit a high of 25,441.65 and a low of 25,352.25 during the day

3:29 PM

This specialty chemicals stock has zoomed 42% in 2 days; hit 2-year high

ASL is engaged in the manufacturing of ionic and non-ionic surfactants and specialty products serving the home and personal care (HPC) industry. Its product portfolio includes surfactants, mild surfactants, rheology modifiers, pearlising agents, UV filters, soap bases, and conditioning agents. ASL supplies surfactants, including concentrates for shampoo, hand wash, dish wash, and oral care. READ MORE

3:15 PM

Stock Market LIVE Updates: Bajaj Auto launches new Triumph Speed T4

>> Bajaj Auto has introduced two new models under its collaboration with Triumph—the Triumph Speed T4 and the MY25 Speed 400.

>> Deliveries for both motorcycles are set to begin later this month

>> The Triumph Speed T4, priced at Rs 2.17 lakh (ex-showroom, Delhi), will be the most affordable Triumph model available in India

3:12 PM

Stock Market LIVE Updates: Upcoming IPO: Quadrant Future Tek gets Sebi nod for Rs 275-cr IPO; details

Stock Market LIVE Updates: Technology and innovation-driven company, Quadrant Future Tek, has announced that it has received approval from the capital markets regulator, Securities and Exchange Board of India (Sebi), to raise Rs 275 crore through an initial public offering (IPO). Quadrant Future Tek had filed its IPO papers with Sebi on June 2, 2024.  READ MORE

3:03 PM

Stock Market LIVE Updates: Man Infra finishes Juhu project with revenue potential of Rs 250 cr before schedule

Stock Market LIVE Updates: Man Infraconstruction  today announced that it has completed the construction of Aaradhya Evoq, MICL Group's 19th real estate project, ahead of schedule.

Aaradhya Evoq, a luxury residential project located in the prestigious neighbourhood of Juhu, Mumbai, was completed in less than 2.5 years from its launch.

With a total carpet area of around 60,000 square feet available for sale and revenue potential of about Rs 250 crores, the project has already sold out nearly 85 per cent of its residences and made a total collection of over Rs 165 crores, the company said in an exchange filing. 

2:59 PM

Stock Market LIVE Updates: PCBL, Kindia Pty JV to foray into battery applicants' production

PCBL and Kinaltek have mutually agreed that instead of Kinaltek, Kindia Pty Ltd (as a trustee of Kindia Unit Trust) shall be the joint venture partner in the JV company

The target entity is the JV Company (formed pursuant to the JVA entered into with Kinaltek and the JV Novation and Amendment Agreement entered into with Kinaltek and Kindia). The JV Company will set up manufacturing plants to produce nano-silicon based products for battery applications.

2:53 PM

Stock Market LIVE Updates: JBM secures $100 million funding from ADB, AIIB to expand e-bus operations

Stock Market LIVE Updates: JBM ECOLIFE Mobility, a subsidiary of JBM Auto Limited, has secured $100 million in funding from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). The funds will be used to supply and operate approximately 650 electric buses across several Indian states under the gross cost contract model. READ MORE
 

 

2:41 PM

Stock Market LIVE Updates: Recently listed IPO soars 20%; jumps 78% over issue price in 10 days

Stock Market LIVE Updates: Shares of ECOS (India) Mobility & Hospitality (ECOS) were locked in the 20-per cent upper circuit, at Rs 592.95, on the BSE in Tuesday's intraday trade. In the past 10 trading days, the stock of the road transport company has zoomed 78 per cent over its issue price of Rs 334 per share. ECOS made its stock market debut on September 4, 2024. READ MORE

 

2:26 PM

Stock Market LIVE Updates: iBUS Network and Infrastructure receives Rs 280 crore investment from IFC

Stock Market LIVE Updates: iBUS Network and Infrastructure, a digital infrastructure solutions provider, announced today that it has secured an investment of Rs 280 crore ($34 million) from the International Finance Corporation (IFC), a member of the World Bank Group, for a minority stake in the company. READ MORE

 

2:22 PM

Stock Market LIVE Updates: BSE defers IT services firm Trafiksol's IPO after investors' concern

Stock Market LIVE Updates: In an unprecedented move, BSE has postponed the listing of Trafiksol ITS Technologies, which was scheduled for Tuesday, amid investor concerns over the company's fundamentals, balance sheet, and utilisation of issue proceeds. The Rs 45-crore initial public offering (IPO) by the small and medium-sized enterprise (SME) firm had garnered bids worth over Rs 10,000 crore. READ MORE

2:19 PM

Stock Market LIVE Updates: TaMo-JLR will be making EVs in India for global markets, says N Chandra

Stock Market LIVE Updates: Tata Motors and Jaguar Land Rover (JLR) will now manufacture electric vehicles in India for global markets, Tata Sons chairman N Chandrasekaran said in a recent interview. Speaking to Autocar, Chandrasekaran stated that both Tata Motors and JLR have been exploring synergies for years and have now finalised plans to manufacture electric vehicles in India for global markets. READ MORE

2:09 PM

Stock Market LIVE Updates: Wipro announces 8% salary hikes for top performing employees in 2024

Stock Market LIVE Updates: Indian IT major Wipro Ltd is set to roll out salary hikes for employees starting September 2024, with top performers expected to receive an average increase of 8 per cent, according to a report by Mint. This marks an improvement on last year’s average increment of around 6 per cent, with most of the company’s offshore employees benefitting from the new salary structure. READ MORE

 

2:00 PM

Stock Market LIVE Updates: Torrent Power zooms 7%, nears record high on signing MoU with Gujarat govt

Stock Market LIVE Updates: Torrent Power share price today climbed 6.7 per cent to Rs 1,900.7 per share on the BSE in Tuesday's intraday trade. The shares, however, pared gains later to trade just 1.2 per cent higher at Rs 1,801 per share at 1:20 PM. By comparison, the benchmark BSE Sensex was up 85 points (0.10 per cent). READ MORE

1:52 PM

Stock Market LIVE Updates: WPI inflation drops to 4-month low of 1.31% in Aug on lower prices

Stock Market LIVE Updates: India’s wholesale price index (WPI)-based inflation cooled to a four-month low of 1.31 per cent in August, down from 2.04 per cent in July and mainly due to a reduction in the prices of manufactured products and food items.
 

Food price inflation stood at 3.11 per cent, compared to 3.45 per cent in July, according to data released by the Commerce Ministry on Tuesday. Prices of other major sub-indices, such as manufactured products, decelerated. Prices of fuel and power contracted too. READ MORE

 

1:46 PM

Stock Market LIVE Updates: Tata Motors dips 3% on heavy volumes; stock down 13% so far in September

Stock Market LIVE Updates: Shares of Tata Motors dipped 3 per cent to Rs 960.65 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade amid heavy volumes.

Till 12:36 PM, a combined 39.9 million shares, representing 1.08 per cent equity of Tata Motors, had changed hands on the NSE (34.8 million shares) and BSE (5.09 million shares), exchange data showed. READ MORE

1:33 PM

Stock Market LIVE Updates: Arkade Developers IPO: 67% GMP, 10.8x subscription; should you bid?

Stock Market LIVE Updates: The grey market premium (GMP) of real estate development company, Arkade Developers, continues to march northward on the second day of its subscription, reflecting continuous demand for the IPO among investors.  

The unlisted shares of Arkade Developers were trading at a premium of Rs 86, which translates to a GMP of 67.19 per cent against the upper end of the IPO price of Rs 128, according to several sources tracking grey market activities. READ MORE

1:24 PM

Stock Market LIVE Updates: JK Tyre & Ind board okays merger with Cavendish Industries; stock gains 3%

Stock Market LIVE Updates: Shares of tyre manufacturer JK Tyre & Industries (JK Tyre) sored as much as 2.50 per cent to hit an intraday high of Rs 452.40 per share. 

The uptick in the JK Tyre & Industries share price came after the company’s board approved the merger with Cavendish Industries. Cavendish Industries is engaged in developing, manufacturing, marketing and distributing automotive tyres, tubes and flaps. READ MORE

 

1:13 PM

Stock Market LIVE Updates: DCX Systems arm gets approval to make defence equipment at Cochin and Bengaluru SEZ

Stock Market LIVE Updates: DCX Systems today announced that its subsidiary Raneal Advanced Systems has received approval for the manufacture of defence equipments at Cochin and Bengaluru SEZs.
 

The company, in an exchange filing, said, "We wish to inform that the Industrial Licensing Section, Office of the Development Commissioner Cochin Special Economic Zone (CSEZ), EOU’s & SEZ’s in Karnataka, Ministry of Commerce & Industry, Government of India, has granted Industrial license to our wholly owned Subsidiary M/s Raneal Advanced Systems Private Limited for manufacturing of the following item(s): 

(1) Production, Assembly and Testing of Microwave Submodules for command and guidance units for Missile Subsystems; (2) Integration and Manufacture of Avionics & Defence Electronic Equipment; and (3) Production, Assembly and Testing of Radar Systems and EW Systems".

The company added that the Industrial License undertaking to manufacture the above mentioned items shall be "located at Aerospace SEZ Sector, Plot No 29,30 & 107, Southern Block, Hitech, Defence and Aerospace Park, Kavadadasanahalli, Hobli, Devanahalli, Channarayapatna, Bengaluru, Karnataka-562110."

1:02 PM

Stock Market LIVE Updates: 1 PM market update

Stock Market LIVE Updates: Benchmarks BSE Sensex and Nifty 50 were near their record highs on Tuesday, ahead of key policy announcement by the Federal Reserve scheduled for Wednesday.

At 1:00 PM, the BSE Senesex was up 128 points, or 0.15 per cent, at 83,117, while the Nifty 50 was at 25,427, up 44 points, or 0.17 per cent.

12:58 PM

Stock Market LIVE Updates: Northern Arc Capital IPO Day 2: Subscription soars, GMP up 67%; bid or not?

Stock Market LIVE Updates: The initial public offering of Northern Arc Capital has been witnessing overwhelming responses from the investors, as the issue has received bids for a whopping 11,95,44,003 shares, against 2,08,68,467 shares offered, resulting in an oversubscription of 5.73 times so far, riding on the back of the retail investors who placed the bid for 8.51. READ MORE

 

12:44 PM

Stock Market LIVE Updates: Hero MotoCorp up 3%, at record high on positive outlook; zooms 95% in 1 yr

Stock Market LIVE Updates: Shares of Hero MotoCorp (HMCL) hit a record high of Rs 5,970, after its shares rallied 3 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes.

 

The stock of the company gained on the back of a positive outlook, as the company has seen favourable trends across its domestic, electric vehicle (EV) and global businesses, in the last quarter. READ MORE

12:31 PM

Stock Market LIVE Updates: Reliance Infrastructure gains 8% on plans to raise long-term funds

Stock Market LIVE Updates: Reliance Infrastructure shares surged as much as 8 per cent and logged an intraday high of Rs 232.8 on the BSE on Tuesday's trading session. The courter saw buying after the company announced the schedule of a board meeting to discuss raising long-term funds.

At around 11:11 AM, shares of Reliance Infrastructure were up 6.28 per cent at Rs 229.3 per share. The BSE Sensex, at around the same time, was trading 28.32 points higher at 83,017. READ MORE

 

12:19 PM

Stock Market LIVE Updates: IPO debutant Bajaj Housing Finance vs veteran LIC Housing: Which is better?

Stock Market LIVE Updates: After a remarkable market debut on Monday, Bajaj Housing Finance continued to rule Dalal Street on Tuesday.
 

The shares, which opened 114 per cent higher than the issue price and marched ahead to settle 137 per cent higher on the BSE and the National Stock Exchange (NSE), soared another 10 per cent to hit an intraday high of Rs 181.48 per share on the bourses on Tuesday. READ MORE