Page 1140 - Markets News
Dhanlaxmi Bank at 9-yr high, hits 10% upper circuit; zooms 69% in two weeks
The stock of private sector lender was trading at its highest level since August 2014
 "Dhanlaxmi Bank at 9-yr high, hits 10% upper circuit; zooms 69% in two weeks")
Nova Agritech IPO subscribed 33.82x on Day 2; NII category booked 71.19x
The Initial Public Offering of Nova Agritech, a manufacturer of agricultural inputs, was subscribed 33.82 times on the second day of the offer on Wednesday
 "Nova Agritech IPO subscribed 33.82x on Day 2; NII category booked 71.19x")
Stock from Madhuri Madhusudan Kela's portfolio has zoomed 54% in 2 months
According to shareholding pattern data, Madhuri Madhusudan Kela, the wife of ace investor Madhusudan Kela, held 2.94 million equity shares or 5.85 per cent stake in Sangam (India) at the end of Q3
 "Stock from Madhuri Madhusudan Kela's portfolio has zoomed 54% in 2 months")
Bajaj Auto hits new peak, gains 4% in weak market on healthy Q3 results
The two-wheeler major reported its highest-ever quarter revenue at Rs 12,114 crore and EBITDA at Rs 2,430 crore for the quarter ended December 2023.
 "Bajaj Auto hits new peak, gains 4% in weak market on healthy Q3 results")
Indian Bk up 8%, hits new high on solid Q3 nos; Motilal expects more upside
In past six months, the share price of Indian Bank has appreciated by 43 per cent, as against 6.4 per cent rise in the S&P BSE Sensex.
 "Indian Bk up 8%, hits new high on solid Q3 nos; Motilal expects more upside")
Foreign money to help PM Modi push near-record India sovereign bond sales
New Delhi will likely announce a gross borrowing of Rs 15.2 trillion ($183 billion) for the year starting April 1, marginally lower than the record Rs 15.43 trillion set for the current year
 "Foreign money to help PM Modi push near-record India sovereign bond sales")
Stocks to Watch today: Bajaj Auto, Tata Steel, Tech M, TVS Motor, IOC, BoB
Stocks to watch on Thursday, January 25, 2024: Among companies announcing Q3 results yesterday, Tata Steel reported a turnaround while IOC and Ceat postged a 10-fold and 5-fold jump in net profit.
 "Stocks to Watch today: Bajaj Auto, Tata Steel, Tech M, TVS Motor, IOC, BoB")
Nifty Auto, IT indices range-bound on charts; Key levels to watch out for
According to Ravi Nathani, an independent technical analyst, the Nifty IT index is seen oscillating between 37,930 and 36,136 trading range.
 "Nifty Auto, IT indices range-bound on charts; Key levels to watch out for")
One year of Hindenburg: Adani group up, recouping market cap losses
The Securities and Exchange Board of India (Sebi) continues to investigate allegations made by Hindenburg against the group. It has concluded 22 of the 24 investigations
 "One year of Hindenburg: Adani group up, recouping market cap losses")
Sebi's new disclosure norms likely to impact few FPIs due to exemptions
No panic selling entailed as funds affected will have six months to rebalance their portfolio
 "Sebi's new disclosure norms likely to impact few FPIs due to exemptions")
Worst not over for bank stocks; sit on the sidelines for now, say analysts
Analysts suggest seizing any rebound as an exit opportunity in current market scenario
 "Worst not over for bank stocks; sit on the sidelines for now, say analysts")
Multi-Commodity Exchange of India starts process of offering DMA to FPIs
The DMA facility allows brokers to provide direct trading terminals to their clients. "All DMA orders shall be routed to the exchange trading system through the broker's trading system," MCX said
 "Multi-Commodity Exchange of India starts process of offering DMA to FPIs")
Religare shares gain 4.6% after CCI approves Burman stake buy in company
Currently, The Burman family is the single-largest shareholder in Religare, with a 21.2 percent stake
 "Religare shares gain 4.6% after CCI approves Burman stake buy in company")
Govt approval required for IFSC listings of cos from bordering nations
The rules lay out how companies can list their shares in the International Financial Services Centre (IFSC) housed in the Gujarat International Financial Tech City (GIFT)
 "Govt approval required for IFSC listings of cos from bordering nations")
Rupee trades narrow, settles 2 paise higher at 83.13 against dollar
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.48 per cent lower at 103.11 on Wednesday
 "Rupee trades narrow, settles 2 paise higher at 83.13 against dollar")
Sensex zooms 690 pts, Nifty tops 21,450; broader indices gain nearly 2%
Stock market highlights on January 24, 2024: The pockets that helped the markets end higher were metals, PSU banks, pharma, and FMCG stocks
 "Sensex zooms 690 pts, Nifty tops 21,450; broader indices gain nearly 2%")
TRIL freezes at 20% upper limit; hits new high on healthy business outlook
The company had a strong order book position of Rs 2,572 crore as on December 31, 2023 (Q3FY24).
 "TRIL freezes at 20% upper limit; hits new high on healthy business outlook")
South Indian, IDBI Bank gain up to 14%; hit multi-yr highs post Q3 results
IDBI Bank surged 14% to hit over five-year high of Rs 86.97; while South Indian Bank hit a fresh six-year high of Rs 33.70 on soaring 9% backed by heavy volumes.
Global funds sell most of Indian stocks since 2022 post-record rally
Global funds sold $2.4 billion of Indian shares on a net basis last week, the most since June 2022
 "Global funds sell most of Indian stocks since 2022 post-record rally")
RIL, Asian Paints, Axis Bank: Key levels to watch out for post Q3 results
As stocks turn volatile post Q3 results, watch out for these key levels on the likes of ICICI Bank, Hindustan Unilever, CoForge and UltraTech Cement among others and plan your trading strategy.
 "RIL, Asian Paints, Axis Bank: Key levels to watch out for post Q3 results")