Market Highlights, June 26: Sensex zooms 621 pts, ends atop 78,650; Nifty holds 23,850; RIL soars 4%

Stock Market Highlights on Wednesday, June 26, 2024: The BSE Sensex touched a record high of 78,759, while the Nifty50 scaled 23,890 in the intraday trade

SI Reporter New Delhi

2:03 PM

ALERT :: S&P revises Adani Ports outlook to 'Positive'; 'BBB-' ratings affirmed

>> Rating revised on improving scale and diversification

1:50 PM

ALERT :: Bajaj Auto sets up new manufacturing plant in Brazil

>> Bajaj Do Brasil Comercio De Motocicletas Ltda, the wholly-owned subsidiary of Bajaj Auto Limited, has set up and commenced the commercial production at its new manufacturing plant at Av. do Turismo, Bairro Tarumã, Manaus, Brazil on 26 June 2024.

>> The plant is equipped with engine and vehicle assembly as well as testing facilities and has a production capacity of 20,000 units per year in a single shift.

1:41 PM

Stock Alert :: RIL gains 2.7%, trades as top gainer on benchmarks

1:30 PM

ALERT :: Bharat Forge stock in focus; share price down 1%

1:22 PM

ALERT :: Voda Idea engages with Samsung for 4g-5g radio network deployment, reports Reuters

1:13 PM

This small-cap auto company has approved capacity expansion; stock gains 4%

JTEKT India shares rise:Shares of JTEKT India rose as much as 4.44 per cent to hit a fresh 52-week high of Rs 221.10 per share on Wednesday.

The uptick in the stock price came after the company announced that it has evaluated and approved capacity expansion for CVJ Forging Child Part. Read more

1:05 PM

Axis Mutual Fund launches Axis Nifty 500 Index Fund: Check details

Investors with long-term view, seeking broad market exposure to the top 500 companies in India, may invest in this fund. First-time investors, looking for a simple and diversified investment option, may also consider. Experienced stock market investors, aiming to complement their portfolio with a low-cost, passive investment strategy, can also invest in Axis Nifty500 Fund. READ MORE

12:52 PM

Rupee weakens amid dollar bids related to expiry of currency futures

The Indian rupee fell on Wednesday, pegged back by persistent dollar demand by public sector banks, which was mostly due to the monthly expiry of currency futures.

The rupee was at 83.4875 to the US dollar at 11:08 a.m. Read more

12:43 PM

ICICI Bank stock at record high; m-cap hits $100bn. What's behind the rise?

ICICI Bank share price hits record high, ICICI Bank m-cap tops $100 billion: Shares of ICICI Bank have been on a steady uptrend, rising 30 per cent over the past one year; not far behind Axis Bank stock that surged over 32 per cent during the period. The BSE Sensex, meanwhile, is up 24 per cent, and the BSE BANKEX 21.3 per cent in the last one year, ACE Equity data shows. Read more

12:28 PM

Nifty soars 120 pts, records lifetime high at 23,859

12:25 PM

Market check: Sensex registers fresh high at 78,588

12:17 PM

Budget 2024: Nasscom seeks lighter taxation environment for tech industry

The Union Budget should increase eligibility thresholds under safe harbour provisions from current levels of up to Rs 200 crore in international transactions to Rs 2,000 at least, according to the National Association of Software and Service Companies (Nasscom), which represents India’s $200 billion technology industry.

Safe harbour rules or conditions relieve taxpayers from obligations typically imposed under the Transfer Pricing Regulations introduced in 2001. Read more

11:57 AM

Block deal: CE Info Systems drops 6% as promoter likely sells 1% stake

Shares of CE Info Systems dropped by 6 per cent at Rs 2,271 per share on the BSE in Wednesday’s intraday trade. The stock price has corrected 14.3 per cent from its 52-week high of Rs 2745, touched on June 21, 2024. The stock had hit a 52-week low of Rs 1,164.30 on July 05, 2023.

The recent downturn in stock price, however, came after the company’s promoter and managing director, Rakesh Kumar Verma on Wednesday sold 6.1 lakh shares, representing a 1.1 percent stake in the company, according to reports. Read more

11:39 AM