Sensex rebounds 507 pts from lows, ends 138 pts up; auto, IT stocks gain

Closing Bell on August 16, 2023: The shares of SBFC Finance, which debuted on Wednesday at a premium of 44 per cent, settled at Rs 92.2 per share, up nearly 62 per cent over issue price

4:13 PM

COMMENT:: Inflation, global worries weigh on market sentiment

"The initial apprehension stemming from an above-expected surge in domestic CPI inflation, driven by higher food prices, induced volatility in the Indian market. However, the market found some relief as the likelihood of this inflation surge being transitory alleviated concerns, leading to a recovery in the latter part of the trading session. Moreover, as core inflation continued to moderate, the market did not anticipate a rate hike, although the possibility of an extended rate pause seemed more probable. Stronger-than-anticipated retail sales data in the US and concerns about further rating downgrades of US banks contributed to choppiness in Western markets, while Asian markets reacted to the rate cut initiated by the Chinese central bank."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

4:11 PM

Solid Debut: SBFC Finance ends Day 1 on the bourses at 62% premium

The stock hit a high of Rs 95.30 on the BSE as against the issue price of Rs 57 per share. READ MORE

4:09 PM

IRFC m-cap zooms past Shriram Finance, IDBI Bank; stock up 62% in 1 month

Indian Railway Finance with Rs 68,086 crore m-cap stood at 86th position in overall ranking, ahead of Shriram Finance (Rs 67,613 crore) and IDBI Bank (Rs 67,310 crore), the BSE data shows. READ MORE

4:08 PM

ITC rises 2% in intra-day deals as brokerages give thumbs up to Q1 results

Shares of ITC climbed 2 per cent to Rs 457 per share in Wednesday's intra-day trade as brokerages gave thumbs up to the conglomerate's April-June quarter performance for fiscal year 2023-24 (Q1FY24). READ MORE

4:05 PM

Defence stocks pricing-in all positives, offer limited upside, say analysts

The rally, which has been accompanied by high valuations, could stagnate in the near term as companies may not meet investors' expectations of sustained performance every quarter, analysts said. READ MORE

4:03 PM

Uno Minda at 52-week high; soars 7% on commissioning EV component plants

The company has also received new orders with annualised peak value of more than Rs 600 crore for EV systems. during the Q1FY24. READ MORE

4:02 PM

Stock of this defence company has zoomed 110% in 6 weeks on strong outlook

Thus far in the calendar year 2023, the stock price of Zen Technologies has skyrocketed 372 per cent, as compared to 7 per cent rise in the S&P BSE Sensex. READ MORE

4:00 PM

Block deal impact: JSW Energy, Religare surge up to 10%, hit 52-week highs

Religare Enterprises hit a 52-week high of Rs 242.55, soaring 10% after around 25 million equity shares changed hands on the BSE till 03:14 PM. READ MORE

3:59 PM

Garden Reach Shipbuilders rallies 33% in 2 days post June quarter results

The BSE has sought clarification from Garden Reach Shipbuilders & Engineers Ltd with reference to movement in volume.  READ MORE

3:57 PM

Gangwal stake sale buzz: IndiGo dips 5% intra-day amid block deal of over 18 mn shares

At 09:15 AM; around 18.19 million equity shares representing 4.71 per cent of total equity of IndiGo changed hands on the BSE, the exchange data shows. READ MORE

3:55 PM

Apar Industries hits record high on healthy outlook; zooms 200% from Jan low

For Q1FY24, Apar Industries had posted 61 per cent year-on-year jumped in profit after tax at Rs 197 crore. READ MORE

3:54 PM

Hindustan Oil Exploration sinks 16% as Q1 profit plunges 80% QoQ

Separately, the government has hiked windfall tax on crude petroleum to Rs 7,100 per tonne with effect from August 15, up from Rs 4,250 per tonne. READ MORE

3:51 PM

Nifty Metal index slips over 1%; Hindustan Copper tumbles 6%

3:49 PM

BSE Smallcap Heatmap:: Johnson Controls, Cochin Ship, DB Realty zoom up to 20%

3:48 PM

BSE Midcap Heatmap:: IOB, JSW Energy soar up to 7%; Crompton tanks 6%

3:46 PM

Broader indices also end on a positive note; India VIX rises 1%

3:44 PM

Nifty 50 Losers:: Tata Steel, Adani Ports, Hindalco major laggards

3:43 PM

Nifty 50 Gainers:: Apollo Hospitals, UltraTech Cement, NTPC rally over 2%

3:41 PM

Sensex 30 Heatmap:: 18 Gainers v/s 12 Losers

3:39 PM

CLOSING BELL:: NSE Nifty50 gains 30 pts, closes at 19,465

3:36 PM

CLOSING BELL:: S&P BSE benchmark ends 137 pts higher at 65,539; rallies over 500 pts from day's low

3:25 PM

Reliance, Vodafone, Airtel may increase their headcount by 25% in FY24

India's top three telcos - Reliance Jio, Vodafone Idea, and Bharti Airtel - will likely add 25 per cent more employees in FY24 as they work on 5G coverage expansion and monetisation. READ MORE
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3:21 PM

ALERT :: Cabinet approves PM-eBus Sewa

3:17 PM

ALERT:: Global Fund likely buyer in Adani Power block deal

>> Promoter entity likely seller of 8.1 per cent stake

 

Source: Bloomberg

3:01 PM

Uno Minda at 52-week high; soars 7% on commissioning EV component plants

The company has also received new orders with annualised peak value of more than Rs 600 crore for EV systems. during the Q1FY24. READ MORE

2:47 PM

ALERT:: Lupin gets US FDA for Bromfenac Ophthalmic Solution; stock up 1.5%

Lupin in an exchange filing said it received US FDA approval for the company's Abbreviated New Drug Application for Bromfenac Ophthalmic Solution, 0.09 per cent, to market a generic equivalent of Bromday Ophthalmic Solution, 0.09 per cent, of Bausch & Lomb Inc.

 

2:35 PM

ALERT:: Camlin Fine Italy plant announces temporary shutdown; stock down 1%

Camlin Fine Sciences Italy's Diphenol plant to remain closed till September 15 due to macro economic situation in Europe.

2:33 PM

ALERT :: Olectra Greentech zooms nearly 9% amid report of Cabinet nod to EV bus scheme

>> Report says Cabinet likely approved Rs 63,000 crore scheme for EV buses

>> Cabunet briefing at 3 PM

>> Tata Motors rises 1.5%, Ashok Leyland over 2%

2:24 PM

Stock of this defence company has zoomed 110% in 6 weeks on strong outlook

Thus far in the calendar year 2023, the stock price of Zen Technologies has skyrocketed 372 per cent, as compared to 7 per cent rise in the S&P BSE Sensex. READ MORE

2:14 PM

Online money egaming firms face tax outgo of Rs 45,000 crore

On July 11, the GST council stated that no distinction would be made between games of chance and games of skill and that 28 per cent would be imposed on the full face value of bets. READ MORE