Page 1193 - Markets News
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")
Zee Entertainment soars 12% on reports of fresh merger discussion with Sony
ZEEL and Sony Group are in discussions that may save the $10 billion merger that the Japanese conglomerate had called off on January 22
 "Zee Entertainment soars 12% on reports of fresh merger discussion with Sony")
Stock of this auto company has zoomed over 80% in past 18 trading sessions
Force Motors hit a new high of Rs 6,100 in intra-day trade on Tuesday and has rallied 38% in four days after the has admitted the equity shares of the company to dealings on the exchange from Feb 14.
 "Stock of this auto company has zoomed over 80% in past 18 trading sessions")
Nifty IT slides for second day with 1% fall: What's weighing on IT stocks?
The latest inflation data in the US for January, which showed a surprise increase, has kept domestic IT stocks listless from last week
 "Nifty IT slides for second day with 1% fall: What's weighing on IT stocks?")
Bank stocks outperform markets on Tuesday; HDFC Bank rises 2%; here's why
Shares of HDFC Bank gained 2 per cent to Rs 1,447.5 apiece in the intraday trade after global brokerage Citi gave a 'buy' rating
 "Bank stocks outperform markets on Tuesday; HDFC Bank rises 2%; here's why")
Coal India dips 8% in 2 days as mgmt flags drop in e-auction premium in Q4
The stock had hit a record high of Rs 487.75 on Friday, February 16 and has rallied 75 per cent in the past five months
 "Coal India dips 8% in 2 days as mgmt flags drop in e-auction premium in Q4")
Whirlpool dips 4%, nears 52-wk low as promoter likely sells 24% stake in co
At 09:15 am; as many as 30.82 million equity shares, representing 24.33 per cent of total equity of Whirlpool of India, changed hands on the BSE, exchange data shows
 "Whirlpool dips 4%, nears 52-wk low as promoter likely sells 24% stake in co")
Investors turning wary of crowded India trade after stellar rally
Citigroup Inc. and Societe Generale SA have downgraded India, while foreigners have sold a net $3.8 billion of local shares so far this year, the highest in emerging Asia outside of China
 "Investors turning wary of crowded India trade after stellar rally")
Vibhor Steel Tubes makes solid debut; zooms 196% over issue price
Vibhor Steel Tubes made a solid stock market debut on Tuesday as its shares got listed at Rs 425, a stellar 181 per cent premium over its issue price of Rs 151 per share on the National Stock Exchange
 "Vibhor Steel Tubes makes solid debut; zooms 196% over issue price")