Page 79 - Stock Market

Amber rallies 6% on inking JV pact with Resojet to make washing machines

The JV is being set up to manufacture fully automatic top and front load washing machines; Amber will invest Rs 35 crore in Resojet to acquire 50% in the JV

Bulls charge on D-Street as Fed signals three rate cuts; Sensex up 539 pts

The Nifty finished at 22,012, with a gain of 173 points, or 0.8 per cent

IPO activity to see spillover effect from mid, smallcap weakness: Analysts

Overall, so far in calendar year 2024 (as of March 19), 10 of 21 new listings have been subdued despite decent subscription levels, shows data from PRIME Database

US Fed decision powers 540-pt rally in Sensex; broader indices jump over 2%

Stock market highlights on March 21: In the broader markets, the rebound was steeper with the BSE MidCap and SmallCap indices closing 2.3 per cent and 2 per cent higher, respectively

Rico Auto hits record high on heavy volumes; stock rallies 61% in a month

Rico Auto was trading 6 per cent higher at Rs 143.75, as against 0.5 per cent rise in the benchmark index

Shares of NTPC surge nearly 4% on NCD issue worth Rs 1500 cr

The recent hike in the stock price comes on the back of issuance of non-convertible debentures worth Rs 1,500 crore on Wednesday

PSU Banks soar: PNB, Indian Bank, Central Bank, PSB, BOI zoom up to 4%

The Nifty PSU Bank index rose sharply at 2.66 per cent against 1.01 per cent rise in the Nifty50 benchmark index. A total of 1,86,178 shares worth 12.61 crores changed hands intraday

eMudhra hits fresh high; zooms 60% in 2 months on healthy outlook

In January 2024, eMudhra raised Rs 200 crore through a qualified institutional placement (QIP). The company issued 4.74 million equity shares at a price of Rs 422 per share

Krystal Integrated Services lists at 11% premium over its issue price

At 10:01 am; Krystal was quoting at Rs 784.75, after hitting a low of Rs 764.65 on the BSE in intra-day trade. A combined 2.5 million equity shares changed hands on the NSE and BSE

India block trades raise $7.1 billion, headed toward best qtr in 14 yrs

India's equity capital markets have been running hot for the past year as its stocks climb to record highs and foreign investors pile in amid a rotation away from China

Stocks to Watch on March 21: Wipro, TVS Motor, Torrent Power, RVNL, Krystal

Stocks to Watch on March 21, 2024: Exicom Tele-Systems, Platinum Industries will release their Q3 results today

Investor desire for buybacks, dividends highest in 9 years: BofA Securities

40 per cent of respondents surveyed by BofA (62 per cent in December 2023) now expect bond yields across the globe to head lower in the next 12 months

Trust Fintech sets IPO price band at Rs 95-101 per share; to open on Mar 26

Trust Fintech Ltd, a provider of SaaS product-focused fintech software solutions, on Wednesday fixed the price band at Rs 95-101 per share for its initial public offering. The Initial Public Offer (IPO) will open on March 26 and conclude on March 28. The anchor portion will be opened on Friday, the company said in a statement. The IPO is only a fresh issue of 62.82 lakh equity shares with a face value of Rs 10 each through the book-building route. The company's shares will be listed on NSE's small and medium enterprises platform Emerge, it said. At the upper end of the price band, the company intends to raise up to Rs 63.45 crore. Investors can bid for 1,200 equity shares as a minimum, and subsequently in multiples of 1,200 equity shares. The firm plans to utilise the proceeds from the public issue to establish a new development facility at Mihan SEZ in Nagpur to procure hardware and upgrade IT infrastructure; to enhance, maintain, and upgrade existing products. It will also use

This electrical equipment stock has catapulted over 8000% in 4 years

The joint venture between CG Power, Renesas Electronics Corp and Stars Microelectronics (Thailand) will set up an outsourced semiconductor assembly and test (OSAT) facility in India

Sapphire Foods at new high; soars 18% in 4 days as large funds raise stake

On March 7, 2024, HDFC Mutual Fund acquired 1.45 million equity shares, representing 2.28 per cent of Sapphire Foods, via open market

Stocks to Watch on March 20: Voda Idea, JK Cement, TCS, Star Health, IFCI

Stocks to watch on March 20, 2024: ATC Telecom has asked Vodafone to convert the former's optionally convertible debentures worth Rs 1,440 crore into equity shares of the telecom company

Nvidia shares decline as investors look out for details on new AI chip

Shares of the world's third most-valuable firm dropped about 1.4% to $872, with some analysts saying investors had already factored in the unveiling of the B200 Blackwell chip

China's stock watchdog fines Evergrande, slaps lifetime ban on its chairman

Troubled property developer China Evergrande Group says Beijing's stock watchdog has fined it 4.2 billion yuan ($333.4 million) for allegedly falsifying its revenue, among other violations, as it conducts a deep clean of the troubled financial sector. The company said in a release to mainland Chinese stock exchanges late Monday that its chairman, Hui Ka Yan, was fined 47 million yuan ($6.5 million) and banned from China's markets for life. Hui, also known as Xu Jiayin, was detained by authorities in September for suspected illegal crimes. The notice cited a preliminary ruling by the China Securities Regulatory Commission, which recently got a new chief, Wu Qing, an industry veteran with a reputation for being tough on market misbehavior. Evergrande is the world's most indebted property developer, with more than $300 billion in debts. It is among dozens of Chinese companies that have collapsed since 2020 under official pressure to rein in excessive borrowing that the ruling Communist

REC board approves third interim dividend of Rs 4.5 per share for 2023-24

State-owned REC's board on Tuesday approved a third interim dividend of Rs 4.5 per share with face value of Rs 10 each for 2023-24. Earlier, the company has already announced two interim dividends, totalling Rs 6.5 per share for the current fiscal. A regulatory filing stated that the board, in its meeting held on Tuesday, approved the declaration of interim dividend at the rate of Rs 4.50 per equity share of Rs 10 each for the financial year 2023-24. The record date for the interim dividend is Thursday, March 28, 2024, and it will be paid on or before April 17, 2024, to those shareholders. The board also approved the sale and transfer of the entire shareholding of three wholly-owned subsidiaries, presently held by REC Power Development and Consultancy Ltd (RECPDCL), a wholly-owned subsidiary of REC to the successful bidders selected through a tariff-based competitive bidding process. The three subsidiaries are Kallam Transco (sold to Indigrid 2 Limited and Indigrid 1 Limited- ...

Better growth supports the case for small-caps in Asia: Jefferies

Small-caps in Asia, Jefferies said, have done well since 2001, with an excess return of 216 per cent versus the large-caps