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Mcap of eight of top-10 most valued firms erode by Rs 2 trn; TCS, LIC drop

The combined market valuation of eight of the top-10 most valued firms got eroded by Rs 2,01,699.77 crore last week, with Reliance Industries and Tata Consultancy Services emerging as the biggest laggards, in line with weak trends in equities. Last week, the BSE benchmark dropped 1,181.84 points, or 1.43 per cent. The market valuation of Reliance Industries tumbled Rs 60,824.68 crore to Rs 19,82,282.42 crore. The valuation of Tata Consultancy Services (TCS) slumped Rs 34,136.66 crore to Rs 16,12,762.51 crore. State Bank of India's valuation dropped Rs 29,495.84 crore to Rs 6,98,440.13 crore and that of Bharti Airtel diminished Rs 28,379.54 crore to Rs 8,76,207.58 crore. The market capitalisation (mcap) of Infosys tanked Rs 17,061.44 crore to Rs 7,89,819.06 crore and that of Life Insurance Corporation of India (LIC) eroded by Rs 16,381.74 crore to Rs 6,57,009.14 crore. ICICI Bank's mcap declined Rs 15,169.76 crore to Rs 8,51,204.65 crore and that of ITC was down Rs 250.11 crore to

IPO buzz next week as 13 companies hit primary mkt to raise Rs 8,644 cr

The IPO market will be bustling next week, with four companies, including Bajaj Housing Finance, set to launch their initial share-sale to raise a total of Rs 8,390 crore. Besides these four main-board IPOs, nine SMEs are preparing to debut with their maiden public issues next week, targeting to collect Rs 254 crore. Together, these 13 firms are looking to raise Rs 8,644 crore through IPO. Munish Aggarwal, Managing Director Head - Equity Capital Markets, Equirus, expects the next two weeks to be hectic in terms of issuance activity in IPO markets. "While this seems to indicate that the markets are overheating, we believe that this is more symptomatic of the attempt by most issuers who have valid Sebi observations and decent traction with investors to try and utilize their financials for Fiscal 2024 to launch IPOs," he said. According to Sebi, financial data in the Red Herring Prospectus (RHP) must be less than six months old at the time of the IPO. Therefore, September is the last

Festive season may not light up portfolios, but here's where you can invest

With festive season approaching, sectors like automobiles, FMCG, and electronics usually see a sales boost

Market Crash Close Highlights: Sensex ends down 1,000pts at 81,200, Nifty at 24,800; Financials lose

Market Crash Close Highlights: Indian benchmark indices closed deep in the red on Friday, dragged down by weak global cues, along with regulatory headwinds.

Synergy Green Industries shares rally 16% after order win; check details

Synergy Green Industries share price today surged up to 16.4 per cent, hitting its all time high at Rs 468.40 per share on the BSE in Friday's intraday deals

Godfrey Phillips shares zoom 11% after board to mull on 2:1 bonus issue

Godfrey Phillips share price today surged up 11 per cent at Rs 6,779 per share on the BSE in Friday's intraday deals

Goldman Sachs downgrades SBI to 'Sell', slashes target price; share slips

The fall in SBI share price came the New York-based brokerage Goldman Sachs downgraded SBI to 'Sell' from 'Neutral'.

Strides Pharma hits all time high after USFDA approval for this drug

Strides Pharma share price today reached its all time high at Rs 1394.95 per share on the BSE, rising as much as 3.79 per cent in Friday's intraday deals

SBI Card rallies 6% in weak market; hits 11-month high on positive outlook

The stock rallied 6 per cent to Rs 811.85 and was trading at its highest level since October 2023.

Investors lose Rs 4.12 trillion during morning trade as markets slump

Investors' wealth plummeted by Rs 4.12 lakh crore during the morning trade on Friday as markets faced a massive correction tracking a weak trend in global peers and fresh foreign fund outflows. Falling for the third day running, the 30-share BSE Sensex tanked 896.7 points or 1.09 per cent to 81,304.46 during the morning trade. The BSE benchmark had hit its all-time high of 82,725.28 on Monday. Following the weak trend in equities, the market capitalisation of BSE-listed firms slumped Rs 4,12,152.83 crore to Rs 4,61,56,748.42 crore (USD 5.50 trillion) during the morning trade. Among the 30 Sensex firms, State Bank of India, HCL Technologies, Reliance Industries, Adani Ports, Larsen & Toubro and Mahindra & Mahindra were the biggest laggards. Bajaj Finance, Asian Paints and Hindustan Unilever were the gainers. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower. The US markets ended mostly in the negative territory on Thursday. Foreign Institutional ...

Sundaram-Clayton share price up 4% after Tamil Nadu unit begins production

The shares of Sundaram-Clayton surged after the company announced that it has commissioned the commercial production of Aluminium Die Castings, effective September 5, in Tamil Nadu.

DreamFolks shares fly 9% on launching highway dining service for travellers

The sharp uptick in the share price came after the company announced that it has launched its newest service, highway dining, for travellers.

This RK Damani-owned stock zoomed 20%; turned ex-date for 10:1 bonus

Shares of VST Industries hit a new high of Rs 486.70, as they locked in 20 per cent upper circuit on the BSE on Friday at 09:21 AM, in an otherwise a weak market.

VA Tech Wabag shares soar 8% after large order win worth Rs 2,700 cr

VA Tech Wabag share price scaled water supply and management company announced a large order win worth Rs 2,700 crores

KEC International hits all time high on new orders of Rs 1,423 cr; details

The uptick in KEC International share price came after the company announced that it has secured orders worth Rs 1,423 crore.

Nandish Shah of HDFC Sec recommends 'Bull Spread' strategy on M&M Finance

Long build up is seen in the M&M Finance futures during the September series till now where we have seen 7 per cent rise in 'Open' interest with price rising by 5 per cent

Raymond Lifestyle lists at Rs 3,020 on NSE; locked in 5% lower circuit

RLL's stock locked in lower circuit of 5 per cent at Rs 2,869, after listing at Rs 3,020 on the National Stock Exchange on Thursday.

Stock Market Highlights, Sept 5: Sensex sheds 151pts, Nifty ends below 25,150; Smallcap stocks shine

Stock Market LIVE Highlights: The day ended in favor of bears as many as 33 out of 50 constituent stocks of Nifty50 ended lower, dragged by RIL, Cipla, and Dr Reddy's Labs

This smallcap payments bank has zoomed 57% in 6 wks; trades below IPO price

Fino Payments Bank surged 8 per cent on the BSE to hit an over two-year high of Rs 449.95 in Thursday's intra-day trade.

Alembic Pharma shares jump 5% after USFDA approval; check details here

Alembic Pharma share price surged up to 5 per cent at Rs 1,170.60 per share on the BSE in Thursday's intraday trade