Page 88 - Stock Market

Dalal Street investors become richer by Rs 6 trillion as markets rally

The 30-share BSE Sensex jumped 1,240.90 points or 1.76 per cent to settle at 71,941.57. During the day, it soared 1,309.55 points or 1.85 per cent to 72,010.22

Mutual fund industry collects Rs 63,854 crore capital through NFOs in 2023

Asset management companies launched 212 new fund offerings mobilising Rs 63,854 crore in 2023, marginally higher from previous year, on the back of significant uptrends in broader markets. In comparison, Asset Management Companies (AMCs) garnered Rs 62,187 crore through 228 New Fund Offerings (NFOs) in 2022. Further, they collected Rs 99,704 crore in 2021 and Rs 53,703 crore in 2020, according to data compiled by Morningstar India. "The trend towards the financialisation of assets in India is unmistakable. Aligned with changing consumption behaviours and a need for a higher standard of living, investors recognise the importance of long-term investing. The COVID-19 pandemic underscored the necessity for financial planning and the creation of liquid assets to address emergencies and pave the way for wealth-building," FYERS Research said in its report. It further said that "despite indices exhibiting strength, propelled by robust economic activity, steady GST collections, and confidenc

HDFC Bank gains 2% as LIC gets RBI nod to raise stake in lender to 9.99%

LIC has been advised by RBI to acquire the aforesaid major shareholding in the bank within a period of one year that is by January 24, 2025

Stocks to watch on Jan 29: HDFC Bank, SBI Cards, Adani Power, Coal India

Stocks to watch on January 29, 2024: Investor focus this week remains on the US Fed's rate outcome on Jan 31 and the interim budget back home on Feb 1

Nifty50: Near-term consolidation with negative bias on cards

Nifty outlook: Short-term charts unveil a cautious scenario, where a fresh bullish momentum is anticipated only beyond the 22,124 mark, as per Ravi Nathani

LIVE news: Centre announces Padma awardees on eve of Republic Day

LIVE news updates today: Catch all the latest updates from around the world here

Blackstone Q4 results: Earnings rise 4% to $1.4 bn as asset sales pick up

Distributable earnings, which represents cash used to pay dividends to shareholders, rose to nearly $1.4 billion in the three months to Dec. 31, up from $1.3 billion a year earlier

Unilever's US, European market share slips as private label booms

Unilever's underlying price growth was 13.3% at its height in the fourth quarter of 2022, with prices at its home care business up nearly 17%

IPO-bound S K Finance raises Rs 1,328 crore capital from investors

Vehicle finance and business loans-focused non-bank lender S K Finance has raised Rs 1,328 crore from investors. Motilal Oswal Private Equity has pumped in Rs 415 crore for a minority stake in the 1994-incorporated, Jaipur-based company, as per a statement. Existing shareholders Norwest Venture Partners, TPG Growth, Baring Private Equity India, and new investors Duro Capital, Axis Alternatives, Ananta Capital, and Mirae Asset Venture Investments were among the other investors in the round, it said. The company has grown at a rate of 40 per cent annually on a compounded basis over the last six years till FY23, as per the statement. The latest fund infusion includes both fresh issue of shares and also secondary capital, it said.

Magma Ventures sells Poonawalla Fincorp's shares worth Rs 200 crore

Magma Ventures on Wednesday sold shares of non-banking financial company Poonawalla Fincorp for Rs 200 crore through an open market transaction. Magma Ventures, an entity owned by Chamria Family, disposed of shares of Poonawalla Fincorp on the National Stock Exchange (NSE). Sanjay Chamria and Mayank Poddar co-founded Magma Fincorp Ltd (now known as Poonawalla Fincorp Ltd). According to the block deal data available with the NSE, Magma Ventures Pvt Ltd offloaded 40.33 lakh equity shares, amounting to a 0.52 per cent stake in Poonawalla Fincorp. The shares were offloaded at an average price of Rs 495.85 apiece, taking the transaction size to Rs 199.97 crore. After the latest transaction, Magma Ventures shareholding have declined to nearly 1 per cent from 1.50 per cent stake in Poonawalla Fincorp. Meanwhile, Rising Sun Holdings Pvt Ltd (RSHPL) bought the shares at the same price. RSHPL, a company controlled by Adar Poonawalla. It is also the promoter of Poonawalla Fincorp. The scri

HDFC Bank offloads CAMS shares worth Rs 270 crore via open market

Private sector lender HDFC Bank on Wednesday offloaded shares of Computer Age Management Services (CAMS) for Rs 270 crore through open market transactions. According to the bulk deal data available with the stock exchanges, HDFC Bank Ltd sold 5.29 lakh shares of CAMS on the National Stock Exchange (NSE) and disposed of 4.71 lakh shares of the company on the BSE. The shares were offloaded in the price range of Rs 2,700-2,700.08 apiece on the bourses, taking the combined transaction value to Rs 270 crore. Meanwhile, Fidelity Invst Trust picked up more than 2.82 lakh equity shares of CAMS on the BSE. Details of the buyers on the NSE could not be ascertained. On Wednesday, the scrip of CAMS fell 0.25 per cent to close at Rs 2,733 apiece on the NSE, while it slipped 0.24 per cent to settle at Rs 2,733.30 per piece on the BSE.

Microsoft hits $3 trillion market value, cementing strength of AI rally

The stock rose as much as 1.3% to $403.95, resulting in a market capitalization of $3 trillion. The threshold cements Microsoft's status as one of the largest public stocks

Year after Hindenburg: Adani claws back narrative on biz fundamentals

It has a reputation of tearing down some of the best known corporates, and so when Hindenburg Research a year back accused the Adani Group of "brazen stock manipulation" and accounting fraud, it lead to a stock market rout that erased about USD 150 billion in market value at its lowest point. But unlike its previous targets, tycoon Gautam Adani, who was the world's second-richest man before the damning January 24, 2023 Hindenburg report, has managed to claw back the narrative on strength of his group's business fundamentals and performance as well as investors continuing to pour in money into his apples-to-airport conglomerate. The conglomerate vehemently denied all allegations as it redrew its strategy that included trimming debt through prepayments and repayments of borrowings, paring the founder's share pledge and bringing in both promoter and marquee investor equity. The strategy seems to be paying off with share prices of some of the 10 listed companies recovering all of the ..

Stock market of Hong Kong bounces after PBOC announces rate RRR cut

Mounting hopes that Chinese authorities would come to the rescue of the battered market with more measures and news of Jack Ma scooping up Alibaba Group shares also lifted overall market sentiment

Global funds sell most of Indian stocks since 2022 post-record rally

Global funds sold $2.4 billion of Indian shares on a net basis last week, the most since June 2022

China regulator removes draft video game rules from website, stocks jump

The link to the draft rules on the National Press and Publication Administration's (NPPA) website was inaccessible as of Tuesday morning, after having worked on Monday

Investors' wealth erodes by Rs 8.50 trillion as stock markets tumble

Equity investors became poorer by Rs 8.50 lakh crore on Tuesday as markets came under a bear attack, with the benchmark Sensex falling almost 1,053.10 points. Equity benchmark index Sensex tumbled 1,053 points to close below the 71,000 level on Tuesday, dragged down by index heavyweights HDFC Bank, Reliance Industries and SBI amid mixed global cues. Following the decline in the benchmark index, the market capitalisation of BSE-listed companies eroded by Rs 8,50,820.81 crore to Rs 3,65,97,915.97 crore. The market capitalisation of BSE-listed companies stood at Rs 3,74,48,736.78 crore on January 20. Domestic equities opened on a positive note but soon drifted into red witnessing a huge sell-off amid profit booking, said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Global sentiments turned cautious after a Fitch Group statement that South Asian economies would be most affected, amid rising hostilities in the Red Sea due to Houthi attacks and India'

Sensex sinks 1,668pts from day's high, hits 1-mth low of 70,200: Here's why

Nifty Realty, Oil & Gas indices declined up to 3 per cent, while Pharma index held 2 per cent gains. IT was the other gainer as investors rolled positions into defensive bets in the two segments

Stock of this smallcap industrial products company has zoomed 68% in 4 days

At 02:37 PM; STEL was quoting 13 per cent higher at Rs 107.08, as compared to 1.4 per cent decline in the S&P BSE Sensex

Fund managers burned in AI surge are giving up on active management

With the likes of Microsoft Corp. and Nvidia Corp. all but owning 2023's bull run, money managers faced a dilemma