Page 690 - Markets News
HCL Tech shares tumble 10%; market valuation erodes by Rs 46,987 cr
Shares of IT company HCL Tech on Tuesday slumped nearly 10 per cent after the company's December quarter earnings failed to cheer investors.
 "HCL Tech shares tumble 10%; market valuation erodes by Rs 46,987 cr")
Delta Corp shares hit 52-week low after subdued Q3 results; revenue dips 7%
Investors dumped the shares of Delta Corp on Tuesday, after the company delivered subdued quarterly earnings for the third quarter of financial year 2024-25 (Q3FY25)
 "Delta Corp shares hit 52-week low after subdued Q3 results; revenue dips 7%")
IndusInd Bk up 4% in 2 days as reports indicate higher weight on MSCI index
Foreign portfolio investors reduced their stake in IndusInd Bank to 46.63 per cent in December 2024, from 55.53 per cent in the September 2024 quarter, enhancing foreign headroom at 25 per cent
 "IndusInd Bk up 4% in 2 days as reports indicate higher weight on MSCI index")
Quadrant Future Tek share posts steady debut; lists at 29% premium
Quadrant Future Tek shares listed at Rs 374 on the BSE, a premium of Rs 84 or 28.9 per cent over the issue price of Rs 290
 "Quadrant Future Tek share posts steady debut; lists at 29% premium")
Delta Autocorp shares list at 35% premium, hit 5% upper circuit later
Shares of Delta Autocorp continued their northward march post-listing to hit the 5 per cent upper circuit at Rs 183.75 per share on the NSE SME
 "Delta Autocorp shares list at 35% premium, hit 5% upper circuit later")
RBI likely sold dollars heavily before local spot market open, say traders
The rupee was last quoted at 86.5150 per US dollar as of 09:35 am IST, up nearly 0.1 per centon the day
 "RBI likely sold dollars heavily before local spot market open, say traders")
Rupee recovers from record low, rises 21 paise to 86.49 against US dollar
According to forex traders, the Indian currency found support from positive inflation numbers and some recovery in domestic equity markets
 "Rupee recovers from record low, rises 21 paise to 86.49 against US dollar")
Stocks to Watch, Jan 14: HCL Tech, Angel One, Quadrant Future, BEL
Stocks to watch January 14, 2025: HCL Tech Q3's consolidated net profit stood at Rs 4,590 crore, compared to Rs 4,235 crore QoQ. Revenue increased to Rs 29,890 crore from Rs 28,860 crore
India's $556 bn equity rout worsens amid growth, inflation concerns
The benchmark NSE Nifty 50 Index will likely drop at least 5 per cent in the three-months through March
 "India's $556 bn equity rout worsens amid growth, inflation concerns")
Markets Today: WPI, CPI; GIFT Nifty; HCLTech; Quadrant, Capital Infra IPOs
In previous trading session, the Sensex plunged 1,048.90 points, or 1.36 per cent, to close at 76,330.01. Similarly, the Nifty50 dropped 345.55 points, or 1.47 per cent, ending the day at 23,085.95
 "Markets Today: WPI, CPI; GIFT Nifty; HCLTech; Quadrant, Capital Infra IPOs")
Ravi Nathani recommends sell-on-rise strategy for Nifty IT, Auto indices
The Nifty IT Index is exhibiting a clear bearish trend in the near term, prompting traders to adopt a cautious stance
 "Ravi Nathani recommends sell-on-rise strategy for Nifty IT, Auto indices")
India's billionaire promoters' club surpasses 200 members in 2024
Their combined wealth went past $1 trillion for the first time and reached an all-time high of $1,023.9 billion at the end of December
 "India's billionaire promoters' club surpasses 200 members in 2024")
Sensex sheds 1.4% amid heavy FPI selling; Nifty settles at 23,086
The Sensex ended the session at 76,330, a decline of 1,049 points or 1.4 per cent, while the Nifty closed at 23,086, down 346 points or 1.5 per cent
 "Sensex sheds 1.4% amid heavy FPI selling; Nifty settles at 23,086")
Budget key trigger for life insurance companies' stocks in near term
Premium growth may be volatile for the rest of FY25 due to surrender value regulations
 "Budget key trigger for life insurance companies' stocks in near term")
Upcoming IPO! Vidya Wires files draft papers with market regulator Sebi
Pantomath Capital Advisors, and IDBI Capital Markets & Securities are the Book Running Lead Managers to the issue, while MUFG Intime India (formerly known as Link Intime India) serves as the registrar
 "Upcoming IPO! Vidya Wires files draft papers with market regulator Sebi")
Standard Glass Lining Tech shares make decent debut, list at 26% premium
Standard Glass Lining shares listed at Rs 176 apiece on the BSE, reflecting a premium of Rs 36 or 25.7 per cent against the issue price of Rs 140
 "Standard Glass Lining Tech shares make decent debut, list at 26% premium")
With IPO hopes high, AIFs inclining towards late-stage startups: Report
Of the total investments by value, 39 per cent in FY24 went into late-stage startups, compared to only 18 per cent in FY14
 "With IPO hopes high, AIFs inclining towards late-stage startups: Report")
Mapping the fall: Rupee depreciation unlikely to trigger sustained selloff
The rupee declined by 3.1 per cent since September, and Indian equity benchmarks Nifty and Sensex fell by 8.5 and 7.3 per cent, respectively, during the same period
 "Mapping the fall: Rupee depreciation unlikely to trigger sustained selloff")
Risk-reward balance poor despite the recent correction, says report
"Retail investors may show some of their usual chutzpah and buy stocks aggressively, buying on dips has been the common mantra so far, but that would be comical," the note said
Economy strong but equities face near-term challenges: ICICI Pru MF
The recent correction in the equity market, according to the asset manager, has eased multiples to an extent but valuations still remain high, especially in the midcap and smallcap space
 "Economy strong but equities face near-term challenges: ICICI Pru MF")