Page 1255 - Markets News
HBL Power hits new high on healthy outlook; zooms 155% in three months
The Cabinet Committee on Economic Affairs on Wednesday approved seven multi-tracking projects at an estimated cost of Rs 32,500 crore, under the PM Gati Shakti National Master Plan.
 "HBL Power hits new high on healthy outlook; zooms 155% in three months")
IRFC slumps 6% as govt eyes 11% stake sale via OFS, stock up 49% in 2023
News agency Reuters reported the government will aim to sell up to 11 per cent stake in IRFC in multiple tranches, but it is yet to decide the exact quantum of sale
 "IRFC slumps 6% as govt eyes 11% stake sale via OFS, stock up 49% in 2023")
ITC hits 2-month low; stock down 12 per cent from record high
The board of ITC on Monday approved the Hotel demerger, with share entitlement ratio of 10:1 for the demerged entity.
 "ITC hits 2-month low; stock down 12 per cent from record high")
FMCGs extend fall on RBI's warning of higher inflation; more pain on cards?
Barring Varun Beverages that reached a new all-time high and Colgate Palmolive (India), other FMCG stocks trade fragile.
 "FMCGs extend fall on RBI's warning of higher inflation; more pain on cards?")
GE T&D extends rally on strong order wins in Q1; soars 42% so far in August
So far in the current calendar year, the stock has zoomed 212 per cent, as against 7 per cent rise in the S&P BSE Sensex.
 "GE T&D extends rally on strong order wins in Q1; soars 42% so far in August")
Cochin Shipyard hits record high, up 37% in three days post strong Q1 show
The company's Q1 net profit had soared 123.7 per cent to Rs 109.41 crore for the June 2023 quarter as against Rs 48.91 crore in the year ago period.
 "Cochin Shipyard hits record high, up 37% in three days post strong Q1 show")
JPMorgan index may include India's sovereign bonds in 2024, says Pictet
India has in recent years come close to opening its $1 trillion government debt market to more global funds before pulling back from meeting the requirements for index inclusions
 "JPMorgan index may include India's sovereign bonds in 2024, says Pictet")
Stocks to Watch today, Aug 17: Auto, M&M, Railway, IRFC, Cipla, Nava, SAIL
Stocks to watch on August 17, 2023: Balrampur Chini, Delta Corp, GNFC, Indiabulls Housing Finance, India Cements, SAIL and Zee among 11 stocks in F&O ban on Thursday.
 "Stocks to Watch today, Aug 17: Auto, M&M, Railway, IRFC, Cipla, Nava, SAIL")
Nifty PSU Bank index forms 'lower top, lower bottom' formation on charts
Traders can capitalise by selling the index and its constituents on any intermittent rise
 "Nifty PSU Bank index forms 'lower top, lower bottom' formation on charts")
Emerging Asian bond investors turn cautious as rate cut wagers disappears
Market sentiment is starting to shift as rising commodity prices keep the policymakers from letting their guard down on inflation
 "Emerging Asian bond investors turn cautious as rate cut wagers disappears")
Varshney, Singh fill two vacant posts of whole-time members at Sebi
Government has appointed both for an initial period of three years
 "Varshney, Singh fill two vacant posts of whole-time members at Sebi")
Shobha Gangwal sells 3% in InterGlobe Aviation stake, mops up Rs 2,802 cr
Shares of InterGlobe finished at Rs 2,458 on Wednesday, down 3.6 per cent over its previous day's close
 "Shobha Gangwal sells 3% in InterGlobe Aviation stake, mops up Rs 2,802 cr")
Market to see a period of consolidation, says Kotak Institutional Equities
The brokerage said the market may find support from stable global interest rates over the next 2-3 quarters, given the sharp fall in headline inflation in the US
 "Market to see a period of consolidation, says Kotak Institutional Equities")
Sebi proposal to have separate delisting framework puts shine on holdcos
Typically, holdocs trade at a discount of 40-70% to their intrinsic value due to multiple factors such as dividend taxation, complex structures and lack of control
 "Sebi proposal to have separate delisting framework puts shine on holdcos")
Defence stocks pricing in all positives and offer limited upside: Analysts
However, the rally, which has been accompanied by high valuations, could stagnate in near term as companies may not meet investors' expectations of sustained performance every quarter, analysts say
 "Defence stocks pricing in all positives and offer limited upside: Analysts")
IndiGo promoter Shobha Gangwal sells shares worth Rs 2,801 cr
As many as 3,841,121 shares were sold at a price of Rs 2,426.21 apiece, while 3,841,120 shares were offloaded twice at prices of Rs 2,440.92 and Rs 2,427.09, respectively, as per data
 "IndiGo promoter Shobha Gangwal sells shares worth Rs 2,801 cr")
Markets extend gains on fag-end buying; Infosys, L&T shine amid mixed trend
In contrast, Tata Steel, Bharti Airtel, Bajaj Finserv, Axis Bank, Bajaj Finance and JSW Steel were the major laggards
 "Markets extend gains on fag-end buying; Infosys, L&T shine amid mixed trend")
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
 "Sensex rebounds 507 pts from lows, ends 138 pts up; auto, IT stocks gain")
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
 "Block deal impact: JSW Energy, Religare surge up to 10%, hit 52-week highs")
Uno Minda at 52-wk 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
 "Uno Minda at 52-wk high; soars 7% on commissioning EV component plants")