Page 118 - Stock Market

IndusInd Bank slips 7% as RBI reappoints MD & CEO for shorter tenure

RBI's approval for reappointment of MD & CEO being for a lower tenure compared to board approval, which was for three years, could keep stock under pressure in near term

Market turmoil leaves investors poorer by more than Rs 4.4 trillion

Domestic equity investors' wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments. After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points -- sliding for the third straight trading session. The NSE Nifty too declined 258.60 points to end at 17,154.30 points. Reflecting the massive sell-off across sectors, the total market valuation of BSE-listed companies stood at Rs 2,58,56,295.60, leaving investors poorer by Rs 4,43,023.89 compared to the closing level on Friday. The total market valuation was at Rs 2,62,99,319.49 at the end of trading on Friday, when the key index had crashed more than 670 points. Out of the 3,757 stocks that traded on the BSE, as many as 2,915 closed in the red while 695 managed gains. A total of 219 stocks touched their 52-week low while 75 reached

YES Bank tanks 13% intra-day as 3-year shareholder lock-in period ends

Analysts at ICICI Securities believe near term risk include decision to write-down AT-1 bonds being challenged in court, which is currently stayed and supply overhang post expiry of stock lock-in

Global Surfaces IPO opens today: GMP, subscription status, all details here

Global Surfaces IPO subscription status: According to BSE, as of 10:40 AM on Monday, the issue has been subscribed 0.04 times

Sona Comstar slumps 6% after 20% equity changes hands via block deal

At 09:15 am; nearly 118.76 million equity shares representing 20.3 per cent of total equity of Sona Comstar had changed hands on the BSE, the exchange data shows

Eight of top-10 firms lose Rs 1.03 trn in market-cap; RIL, ICICI hit hard

Eight of the top 10 valued firms faced a combined erosion of Rs 1,03,732.39 crore in market valuation last week, with Reliance Industries and ICICI Bank taking the biggest hit amid an overall weak trend in equities. During the holiday-shortened week, the 30-share BSE Sensex declined 673.84 points or 1.12 per cent amid concerns over the quantum of the next interest rate hike by the US Federal Reserve. Barring Bharti Airtel and ITC, eight firms suffered erosion from their market capitalisation (mcap). The market valuation of Reliance Industries plummeted by Rs 41,878.37 crore to Rs 15,71,724.26 crore, the most among the top 10 firms. The mcap of ICICI Bank tumbled Rs 18,134.73 to Rs 5,88,379.98 crore. The valuation of HDFC Bank tanked by Rs 15,007.38 to Rs 8,86,300.20 crore, and that of State Bank of India eroded by Rs 12,360.59 to Rs 4,88,399.39 crore. HDFC's market valuation diminished by Rs 6,893.18 crore to Rs 4,77,524.24 crore. Tata Consultancy Services' (TCS) valuation slump

Nifty may test 17,000 levels as SVB implosion stirs the ghosts of 2008

Selling pressure seen in banking, IT, and new-age stocks; foreign investors expected to be cautious

SVB chief Greg Becker sold $3.6 mn in stock days before bank's failure

The sale of 12,451 shares on Feb. 27 was the first time in more than a year that Becker had sold shares in parent company SVB Financial Group, according to regulatory filings

No SVB-like scenario in India; banks are on a strong footing, say analysts

The sell-off in the banking pack, analysts said, was a knee-jerk reaction to the developments with US-based Silicon Valley Bank (SVB) that announced a share sale to shore up its finances

Adani group stocks gain for second week. add Rs 75,263 in market cap

This despite some group firms, including flagship Adani Enterprises, shedding some gains in past two trading sessions

SVB crisis sends jitters through startup world: Here's what we know

Santa Clara-based SVB Financial Group announced that it sold $21 billion of securities from its portfolio. SVB Financial Group also said it was holding a $2.25 billion share sale to shore up finances

Equitas SFB slips 13% as new shares list post merger with Equitas Holdings

Total 789.53 million shares have been listed pursuant to the scheme of amalgamation of Equitas Holdings with Equitas Small Finance Bank

Stocks to Watch: Wipro, Reliance, Ajanta Pharma, Infosys, IRB Infra, REC

Stocks to Watch: RIL arm Reliance Polyester has completed acquisition of polyester business of Shubhalakshmi Polyesters & Shubhlaxmi Polytex

Mixed day for Adani Group companies; AEL falls 4,2%, Adani Wilmar up 2.8%

The stock of Adani Power closed at Rs 196.05, Adani Transmission at Rs 860.85, Adani Green Energy at Rs 650.55 and Adani Total Gas at Rs 904.95 apiece on BSE

How to approach IT stocks amid tighter monetary policy, recession fears?

According to Jefferies, analysts' consensus revenue growth estimates for CY24 have been lowered for top clients of all IT firms, barring Wipro, with the highest cuts for HCL Tech and Tech Mahindra

Jindal Saw hits over 5-year high; zooms 94% in 3 months on healthy outlook

The company said that the future of the global steel pipe market looks promising with opportunities in oil and gas, water and wastewater, power generation, automotive, and other industrial sectors

SeQuent Scientific rallies 15% on terminating pact to acquire Tineta Pharma

In November 2022, SeQuent had announced the acquisition of Tineta Pharma for Rs 218 crore but the said transaction has not materialised

Stocks to Watch: Bharat Forge, Shoppers Stop, Gokaldas, Lotus Chocolate

Stocks to Watch: As per a report, Clear Wealth Consultancy Svcs LLP will likely sell 8.25 per cent stake via block deal in Gokaldas Exports today

Stocks to Watch: HAL, L&T, Allcargo Logistics, Zee Ent, Power Grid, NBCC

Stocks to Watch: Zee Entertainment has entered a settlement agreement with operational creditor Indian Performing Rights Society to settle all claims and disputes

Stock market holiday: Share market to remain closed due to Holi today

Stock market holiday news: While most people are celebrating Holi on Wednesday, March 8, BSE and NSE have declared a stock market holiday on March 7