Page 1176 - Markets News
Spike in new MF investors as bull run continues, scheme launches pick up
MFs add 1 million new investors in January, highest in nearly two years
 "Spike in new MF investors as bull run continues, scheme launches pick up")
Asian bonds gain solid inflows on rate cut hopes amid US inflation concerns
India led the way with a robust influx of $2.39 billion into its bonds, the highest since August 2017, fueled by anticipation of its inclusion in JP Morgan's emerging market debt index this year
 "Asian bonds gain solid inflows on rate cut hopes amid US inflation concerns")
Sensex sinks 434 pts in fag-end, Nifty holds 22,050; ZEE tanks 14%
Stock market highlights on February 21, 2024: In the broader markets, the BSE MidCap index fell 1.27 per cent, while the BSE SmallCap index declined 0.84 per cent
 "Sensex sinks 434 pts in fag-end, Nifty holds 22,050; ZEE tanks 14%")
NTPC, Power Grid sink 3% on profit taking after rallying up to 21% in 1 mth
The BSE power index, meanwhile, closed calendar year 2023 with gains of 34 per cent with NTPC and Power Grid surging 87 per cent and 48 per cent, respectively, for the year
 "NTPC, Power Grid sink 3% on profit taking after rallying up to 21% in 1 mth")
Medplus slips 2% after board defers expansion plan of diagnostics division
The company's board on Wednesday decided to defer the expansion plans for Diagnostics Division beyond Hyderabad, until the profitability of the pilot project was established.
 "Medplus slips 2% after board defers expansion plan of diagnostics division")
Sterlite Tech soars 9% on entering into strategic partnership with Lumos
Sterlite Technologies said that it has been strategically engaged in co-creating fiber and optical connectivity solutions suited for Lumos
 "Sterlite Tech soars 9% on entering into strategic partnership with Lumos")
HDFC Bank, ITC: 5 Nifty stocks trading far away from their 52-week highs
Among these five, HDFC Bank, ITC and UPL can potentially rally up to 10 per cent; Whereas, Hindustan Unilever and Asian Paints can crack another 25 per cent, suggest charts.
 "HDFC Bank, ITC: 5 Nifty stocks trading far away from their 52-week highs")
ABB India rallies 9% as order book rises 35% in Dec qtr, PAT jumps 13%
In the fourth quarter, total orders rose up by 35 per cent to Rs 3,147 crore
 "ABB India rallies 9% as order book rises 35% in Dec qtr, PAT jumps 13%")
UBI shares surge 7%, approach 52-week high as bank launches Rs 3,000-cr QIP
A meeting of the Committee of Directors for Raising Capital Funds is scheduled to be held on February 23, 2024 to consider and approve the issue price for the QIP
 "UBI shares surge 7%, approach 52-week high as bank launches Rs 3,000-cr QIP")
Hindalco Ind gains 5% on report of Novelis Inc's likely IPO in US
On successful completion of its IPO, Novelis will be among the few subsidiaries of Indian companies to be listed separately on foreign bourses
 "Hindalco Ind gains 5% on report of Novelis Inc's likely IPO in US")
Zee Entertainment sinks 14% amid report of Rs 2,000-cr fund diversion
Bloomberg reported that market regulator Securities and Exchange Board of India (Sebi) has found a hole of more than $240 million in the accounts of ZEE
 "Zee Entertainment sinks 14% amid report of Rs 2,000-cr fund diversion")
Stocks to Watch today: Zee, Hindalco, RIL, Tata Power, Paytm, TVS Supply
Stocks to watch on Wednesday, February 21, 2024: In news today - Sebi finds Rs 2,000 cr fund diversion in Zee; Hindalco arm files IPO papers in US; Rolls Royce extends pact with TVS Supply Chain.
 "Stocks to Watch today: Zee, Hindalco, RIL, Tata Power, Paytm, TVS Supply")
Nifty IT: 37,780 is the make or break level; Bias for Auto turns negative
According to Ravi Nathani, an independent technical analyst, breach of 37,780 on the Nifty IT could trigger a fall to 37,400 and 37,125.
 "Nifty IT: 37,780 is the make or break level; Bias for Auto turns negative")
Tech picks: JK Lakshmi, Castrol can rally up to 20%, says HDFC Securities
On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities says the Nifty has broken out from a consolidation phase and can rally towards 22,600-22,700.
 "Tech picks: JK Lakshmi, Castrol can rally up to 20%, says HDFC Securities")
Another blow to Zee Entertainment: Sebi uncovers $241 mn accounting issue
As part of its investigation into the Zee founders, the Securities and Exchange Board of India, or Sebi, found that about Rs 2,000 crore ($241 million) may have been diverted from the company
 "Another blow to Zee Entertainment: Sebi uncovers $241 mn accounting issue")
ETF turnover tops Rs 1 trillion for second year on the trot, shows data
Set to surpass previous year value of Rs 1.2 trillion
 "ETF turnover tops Rs 1 trillion for second year on the trot, shows data")
India-listed multinational arms outclass parent firms' valuations
Trend may draw foreign companies to India listing, while existing players assess potential of monetising stakes
 "India-listed multinational arms outclass parent firms' valuations")
SBI Mutual Fund among buyers of Whirlpool of India's nearly 24% stake
Shares of Whirlpool India fell 3.2 per cent to close at Rs 1,288. Following the share sale, the promoter shareholding in the company will drop to about 51 per cent
 "SBI Mutual Fund among buyers of Whirlpool of India's nearly 24% stake")
Sebi takes steps to boost ease of doing biz, compliance reporting
The onus of obtaining and reporting the FATCA and CRS certification and related compliances will lie with the respective intermediaries
 "Sebi takes steps to boost ease of doing biz, compliance reporting")
Sensex ends wild session 349 pts up, Nifty at record closing high of 22,197
Stock market highlights on February 20, 2024: The Nifty50 index hit record high of 22,216 in intraday trade
 "Sensex ends wild session 349 pts up, Nifty at record closing high of 22,197")