Page 429 - Markets

Markets wilt for second day as fresh Covid worries spook investors

The Sensex slumped 635 points while the Nifty finished below the 18,200-mark on Wednesday as surging COVID cases in China and concerns over renewed outbreaks in other countries sapped risk appetite. Three cases of Omicron subvariant BF.7, apparently the strain driving China's current surge of Covid cases, have been detected in India so far, official sources said. Different sets of data modelling indicate that China could be facing a massive death toll after it lifted its stringent zero-COVID policy. Union Health Minister Mansukh Mandaviya on Wednesday reviewed the COVID-19 situation in the country and directed officials to be alert and strengthen surveillance. Declining for the second straight day, the 30-share BSE benchmark Sensex tumbled 635.05 points or 1.03 per cent to settle at 61,067.24. The broader NSE Nifty declined 186.20 points or 1.01 per cent to end at 18,199.10. IndusInd Bank was the biggest laggard in the Sensex pack, shedding 2.28 per cent, followed by Maruti Suzuki,

Finolex Industries hits over 10-month high; surges 8% on heavy volumes

The biggest drivers of growth in the Indian piping industry are the rising demand for the irrigation, water supply and sanitation sectors

Stocks to Watch: IRFC, Airtel, Jubilant Food, Delhivery, CBI, KP Energy

Stocks to Watch Today: Dabur India promoters, the Burman family, sold 1 per cent stake in the company through a block deal on Tuesday.

Jefferies rejigs India model portfolio; Zomato, Bharti Airtel off menu

The change in stance with respect to Zomato is a complete reversal from nearly a month ago (November 13), when the stock was a high-conviction 'buy' for Jefferies with a price target of Rs 100

Sebi to gradually phase out share buyback through stock exchange route

Markets regulator Sebi on Tuesday decided to gradually phase out buyback of shares by companies through the stock exchange route and also approved steps to boost governance at stock exchanges and other market infrastructure institutions. These were among the proposals approved by Sebi board during its meeting on Tuesday. Sebi Chairperson Madhabi Puri Buch said the regulator has chosen the tender offer route for share buyback as the present mode is vulnerable to favouritism. "This is a glide path and will lead to the phasing out of the present buyback mode (through stock exchange route)," she told reporters here. Currently, for share buyback, companies have both the options of stock exchange and tender offer. Besides, Sebi board has decided to reduce time taken for registration of FPIs to facilitate ease of doing business. Norms will also be amended to facilitate sustainable finance in the country and curb 'greenwashing'.

Shipping Corporation hits 52-week high; up 17% in 2 days on demerger update

The Final hearing before the Ministry of Corporate Affairs in New Delhi for obtaining sanction on the Scheme of Arrangement for demerger is fixed on Thursday, December 29, 2022

Dabur India dips 3% as 1% equity change hands via block deals

At 09:15 am, around 18.2 million equity shares, representing 1.02 per cent of total equity of Dabur India, changed hands on the BSE

Stocks to Watch: Hinduja Global, Just Dial, IRB Infra, SWRE, Ramco Systems

Stocks to Watch Today: Larsen & Toubro is also likely to see some action on Tuesday as the engineering major is looking to pare stake in its subsidiaries - Nabha Power and Hyderabad Metro.

BS BFSI Insight Summit 2022: Fireside chat with G Quant's Shankar Sharma

Sharma has been called "The Alchemist of Dalal Street" by Forbes. His investment mantra: Don't be bullish or bearish; always be hare-ish

Accenture's retained FY23 guidance hints slowdown for IT firms: Analysts

For FY23, Accenture has maintained its 8-11 per cent growth guidance. This is reportedly the first time since FY17 that the company has not upgraded its full-year guidance after the first quarter

Maha govt okays Lloyds Metals' Rs 20,000-cr project; stock up 26% in 4 days

The company clarified that these approvals are preliminary and require a series of regulatory and internal approvals

Sugar stocks on roll; Dalmia, Dhampur, Rajshree, Sakthi zoom up to 20%

The government of India has taken a slew of measures in the past couple of years that have changed the dynamics of the sugar industry

Stocks to Watch: Tata Power, M&M, Tata Motors, Ashoka Buildcon, Spandana

Stocks to Watch Today: Balrampur Chini, BHEL, Delta Corp, GNFC, Indiabulls Housing Finance, IRCTC and PNB are the seven stocks in F&O ban period on Monday.

TMS Ep327: Reliance FMCG, Byju's pains, Markets, EAGLE Act

Is FMCG the new battlefield between Ambani and Adani? Is Byju's experiencing growing pains? Will US Fed's hawkish pivot push Sensex to 58,000? How will EAGLE Act help Green Card seekers? Answers here

Sell-downs, IPOs dominate private equity exits in November, shows data

November proved to be a good month for private equity (PE) and venture capital (VC) funds as far as exits via initial public offerings (IPOs) and sell-downs in listed firms were concerned

No mountain too high: A steady ascent likely to sustain for Nifty

Trend reversal could be called only if index falls below 17K; trend followers can continue with bullish bets on Private Bank, FMCG indices

Global markets remain at make-or-break stage after US Fed's rate hike

It was a tough week for markets in India and the world. Interest rates were raised in the US on expected lines and the commentary post the meeting were not enough to soothe the nerves

IRCTC stock is still richly valued despite fall since news of OFS

While business prospects remain unchanged, one-year average target price of analysts is Rs 600

DMRC Board approves raising of equity share capital by way of rights issue

The board of Delhi Metro Rail Corporation has approved the raising of the equity share capital of the DMRC by way of the rights issue, to be subscribed equally by both the stakeholders -- the Centre and the Delhi government. The funds raised will be to meet the liability arising out of an arbitral award of 2017 in favour of Delhi Airport Metro Express Private Ltd (DAMEPL). A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. The DMRC is a 50:50 joint venture between the government of India and the Delhi government. The Supreme Court on Wednesday directed the Delhi High Court to proceed with the execution of the Rs 4,600 crore arbitration award granted in favour of DAMEPL, which had pulled out from running the Airport Express metro line over safety issues and take it to a logical end within three months. An arbitral tribunal had ruled in favour of Reliance Infra's DAMEPL and accepted its claim that running the operations on the

Mirae Asset Mutual Fund aims to launch precious ETF by Q1 next year

Exchange traded funds back each security issued with physical stocks of a given commodity, creating a product considered free from counterparty risk