Page 105 - Stock Market

Markets extend gains on fag-end buying; Infosys, L&T shine amid mixed trend

Benchmark equity indices Sensex and Nifty pared early losses to close higher on Wednesday, helped by fag-end buying in index majors Infosys, L&T and M&M amid a mixed trend in global markets. The 30-share BSE Sensex climbed 137.50 points or 0.21 per cent to settle at 65,539.42. During the day, it fell by 369.03 points or 0.56 per cent to 65,032.89. The NSE Nifty gained 30.45 points or 0.16 per cent to end at 19,465. UltraTech Cement was the biggest gainer in the Sensex pack, rising 2.43 per cent, followed by NTPC, Tata Motors, Infosys, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Maruti, Wipro and SBI were the major gainers. In contrast, Tata Steel, Bharti Airtel, Bajaj Finserv, Axis Bank, Bajaj Finance and JSW Steel were the major laggards. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the negative territory. European markets were trading mostly in the green. The US markets ended lower on Tuesday. Global oil benchmark Brent crude climbed 0.01 per

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

TVS Supply Chain IPO subscribed 2.8 times on last day of subscription

The company had earlier raised Rs 396 crore from 18 anchor investors

Sebi proposes alternate mechanism to delist shares from stock exchanges

In addition, SEBI suggested a framework for companies that have shares held by investment-holding companies

Inflation, FII data to drive Market in holiday-shortened week: Analysts

Inflation data, global trends and foreign fund trading activity would guide equity market movement in a holiday-shortened week, analysts said. Stock markets would remain closed on Tuesday for Independence Day. "Macroeconomic indicators, rupee and FII activities will be pivotal in shaping market trends in the coming days. Domestically, inflation figures hold significance. Globally, attention will be directed toward Japan's inflation data, China's IIP numbers, and the US retail sales statistics," said Santosh Meena, Head of Research, Swastika Investmart Ltd. On the macroeconomic front, wholesale and retail inflation numbers for July would be announced on Monday. "India's WPI and CPI inflation data, exports and imports numbers will be in focus in the coming days. We expect the Indian market will continue to remain rangebound and will take further cues from US jobs data and minutes of the Federal Open Market Committee (FOMC) meeting," Arvinder Singh Nanda, Senior Vice President, Master

Mcap of 7 of top 10 firms falls by Rs 74,603 cr, HDFC Bank biggest laggard

The combined market valuation of seven of the top 10 valued firms declined by Rs 74,603.06 crore last week, with HDFC Bank emerging as the biggest laggard. The BSE benchmark declined 398.6 points or 0.60 per cent last week. ICICI Bank, Hindustan Unilever, Infosys and ITC saw erosion in their market valuation while Reliance Industries, Tata Consultancy Services (TCS) and State Bank of India added to their market valuation. The valuation of HDFC Bank declined by Rs 25,011 crore to Rs 12,22,392.26 crore. ICICI Bank's market valuation eroded by Rs 12,781 crore to Rs 6,66,512.90 crore and that of Bharti Airtel fell by Rs 11,096.48 crore to Rs 4,86,812.08 crore. The valuation of Hindustan Unilever tanked Rs 10,396.94 crore to Rs 5,87,902.98 crore and that of ITC skidded by Rs 7,726.3 crore to Rs 5,59,159.71 crore. The market capitalisation (mcap) of Bajaj Finance declined by Rs 4,935.21 crore to Rs 4,27,996.97 crore and that of Infosys dipped Rs 2,656.13 crore to Rs 5,69,406.39 ...

Helios Capital gets Sebi's approval to launch mutual fund business

Helios Capital has received capital markets regulator Sebi's approval to launch a mutual fund business, Samir Arora, the main founder of the company announced. Helios Capital Management PTE Ltd, which is the business of portfolio management services, applied for a mutual fund licence with the Securities and Exchange Board of India (Sebi) in February 2021. "I am very happy to announce that Sebi has granted approval to Helios Mutual Fund...We need your wishes and support to make this new venture a success," Arora, who is also the fund manager at Helios Capital, wrote at X platform, formerly known as Twitter, on Thursday. After quitting Alliance Capital 20 years ago, Arora is re-entering the 43-player mutual fund industry. He was the Chief Investment Officer of Alliance Capital's Indian mutual fund business. In September 2022, Helios Capital received Sebi's in-principle approval to float the mutual fund business. Zerodha Broking Ltd and Old Bridge Capital Management Pvt Ltd are the

Alkem Labs sinks 9% in 2 days; FY24 India sales to miss double-digit growth

Alkem Labs reduced its India business revenue growth forecast to "high single-digit" from low double digits for FY24; BofA sees a downside of 15% to Rs 3,500 for the stock

PSU Bank index up 2% in weak market; IOB, UCO, Central Bank rally upto 15%

The Nifty PSU Bank index hit an intra-day high of 4,516.75, trading close to its record high level of 4,647.95 touched on July 27

Disa India zooms 20%, hits new high as profit more than doubles in Q1FY24

The company's revenue from operations grew 41 per cent to Rs 90.69 crore from Rs 64.19 crore in the corresponding quarter of previous year. EBITDA margin improved to 20.4 per cent from 14.0 per cent

MFSL up 12%; hits 52-wk high on Axis Bank buying balance stake in Max Life

Axis Bank said in a filing on Wednesday that it will raise its 9.99 per cent stake in Max Life to 16.22 per cent by infusing Rs 1,612 crores in the entity

Growth vs Value Investing - By Sidhavelayutham, Founder & CEO, Alice Blue

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Adani Wilmar slips 5% on report Adani Enterprises looking to exit company

Adani Enterprises is exploring selling its stake in its consumer-staple joint venture with Wilmar International Ltd., freeing up capital for their core business, Bloomberg reported

Sebi categorises dues worth Rs 73,287 crore as 'difficult to recover'

Capital markets regulator Sebi has segregated dues to the tune of Rs 73,287 crore under "difficult to recover" category at the end of March 2023. Overall, the markets watchdog has dues worth Rs 1.02 lakh crore that needs to be recovered from entities, including those that failed to pay the fine imposed on them, or were unable to pay fees due to it and did not comply with its direction to refund investors' money, according to Sebi's annual report for 2022-23, which was released on Monday. Of Rs 1.02 lakh crore, Rs 63,206 crore, which is 62 per cent of the total amount, pertains to collective investment scheme and deemed public issues of PACL Ltd and Sahara Group company Sahara India Commercial Corporation Ltd. Further, the regulator said parallel proceedings are pending before various courts and court-appointed committees in 77 cases involving Rs 70,482.62 crore, or 69 per cent of the total amount. "In these cases, Sebi's recovery proceedings are subject to directions/approvals of .

Indian Bank soars 10% on heavy volumes; hits 5-year high in subdued market

The stock hit a 5-year high of Rs 381.40 and has zoomed 35% in two months and is inching towards its record high level of Rs 428 touched in November 2017

Equity markets settle higher for 2nd day, unfazed by global trends

The 30-share BSE Sensex climbed 232.23 points or 0.35 per cent to settle at 65,953.48. During the day, it jumped 346.65 points or 0.52 per cent to 66,067.90

Yatharth Hospital gains 11% on debut; Concord IPO subscribed 2.3x on day 2

Concord had allotted shares worth Rs 465 crore to anchor investors at Rs 741 per share, the top-end of the price band

At 2.9 mn, new demat account additions hit 18-month high in July

10 IPOs with a prospective fund raise of Rs 8,000 cr will decide August trajectory

Jhunjhunwala-backed Concord Biotech IPO opens today: What do analysts say?

Concord Biotech IPO: The stock is commanding a 20 per cent premium in the grey market, as per ipowatch.com

Nifty Realty may see profit booking; Buy Nifty Infra at support of 5,864

The best trading strategy for Nifty Realty would be to exercise patience and wait for the index to undergo a corrective phase, says Ravi Nathani