Page 37 - Stock Markets

F&O expiry: Nifty ends Jan series near 21,350; Sensex drops 360 pts

Stock market highlights on January 25, 2024: The frontlines were dragged by Tech M, Axis Bank, Bharti Airtel, HCL Tech, Kotak Bank, HDFC Bank, Wipro, Asian Paints

Sensex zooms 690 pts, Nifty tops 21,450; broader indices gain nearly 2%

Stock market highlights on January 24, 2024: The pockets that helped the markets end higher were metals, PSU banks, pharma, and FMCG stocks

Chinese lawmakers weigh stock market rescue package backed by $278 billion

Policymakers are seeking to mobilize about 2 trillion yuan ($278 billion), mainly from the offshore accounts of Chinese state-owned enterprises

In a first, India overtakes Hong Kong as world's fourth-largest stock mkt

The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday's close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg

Tata Elxsi Q3 net profit rises 6% to Rs 206 cr on transportation segment

The company's net profit rose to 2.06 billion rupees ($24.78 million) for the quarter ended Dec. 31 from 1.95 billion rupees a year ago

Near-term margin pressures to persist for Tata Communications stock

The consolidated operating profit grew 12 per cent Q-o-Q to Rs 1,130 crore led by Kaleyra, which turned the operating profit positive

Sebi mulling exemptions in AIF norms, may allow pledging of infra assets

Sebi has been consulting with the Reserve Bank of India (RBI) too, he added, to discuss the potential 'financial stability ramifications'

Weak earnings, fading US interest rate cut hopes drag Indian stock market

The blue-chip NSE Nifty 50 shed 0.51% to 21,462.25, while the S&P BSE Sensex lost 0.44% to 71,186.86

EPACK Durable sets Rs 218-230 price band for IPO worth Rs 640 crore

EAPCK Durable, the second-largest outsourced design manufacturer of room air-conditioners, on Tuesday fixed a price band of Rs 218-230 per share for its Rs 640 crore initial public offering. The share sale, which opens on January 19, comprises Rs 400 crore of fresh issue and a Rs 240-crore offer for sale by promoters, promoter group members, and existing shareholders who collectively be offloading 1.3 crore shares. Pre-issue, promoters own 67 per cent of the company. Two investor shareholders India Advantage Fund S4 I and Dynamic India Fund S4 US1, which are owned by ICICI Ventures, will be offloading a third of their total 20 per cent holding in the company, Bajrang Bothra, the chairman of the company told PTI here. Ajay Singhania, the managing director & chief executive, said ICICI Ventures entered the company in September 2021 with a Rs 160 crore funding for around 20 per cent stake. The company also has another external investor in Affirma Capital, which in September 2022 ...

BoB's new deposit scheme offers 7.1-7.6% interest on short-term deposits

Public sector lender Bank of Baroda on Monday announced a new deposit scheme offering interest payments in the range of 7.1-7.6 per cent per annum. Bank of Baroda in a statement said its special short-term retail deposit scheme offers an interest rate of 7.60 per cent annually for senior citizens and 7.10 per cent for others. The scheme opened on Monday and is applicable on retail deposits below Rs 2 crore. The bank had been offering 6.25 per cent for 271 days bulk deposits earlier. Existing and new customers of the bank can open this bulk deposit scheme, called the BoB360, at any branch, online or through the mobile app. Banks are offering higher interest on deposits as more and more people are investing in mutual funds and stock markets which are offering better returns than bank deposits. The flight of money out of the banking system can lead to asset-liability mismatches in banks' books. This had the Reserve Bank recently warning banks about a likely crisis as when the policy

India 'coolest party in town' for all global investors: Zerodha Co-Founder

Global investors face the risk of losing out if they arrive too late in India, which is the "coolest party in town", discount brokerage Zerodha Co-Founder & CFO, Nikhil Kamath, said on Wednesday. In his address at the Vibrant Gujarat Global Summit here, Kamath said in the last decade, India's entrepreneurship has evolved and the startup ecosystem has prospered under the vision and leadership of Prime Minister Narendra Modi. "... to all the foreign investors here, India is seemingly looking like the coolest party in town. I think what you need to be aware of is if you arrive too late, you might not get in," Kamath remarked. The big change in India in the last decade has been that entrepreneurship has moved from something that was only aspired or watched in movies to everyone "actively trying" for it. "The last ten years have been incredible and I'm not the only exception here in India. There are many other exceptions like me, we all hang out. We call this the startup ecosystem of ..

Sebi puts Manappuram Finance's arm Asirvad Micro Finance IPO on hold

Reacting to the development, shares of Manappuram Finance plunged as much as 7.45% to a low of Rs 163.40 apiece on the BSE on Wednesday

S&P 500 earnings forecast could rise further on strong economy: Goldman

S&P 500 companies' earnings per share are forecast to rise 5% to $237 this year, the team led by chief US equity strategist David Kostin predicted in a weekly research note

UAE market cap soars as top 16 national companies hit AED 2.7 trillion

According to official figures, 16 listed companies accounted for about 74 per cent, or AED 2.709 trillion, of the total market capitalisation of the local stock markets

DoT asks telecom operators to block malicious overseas calls about bourses

The Department of Telecommunications (DoT) has cautioned the public about malicious calls from international numbers spreading false information about Indian stock exchanges, and advised people to report such cases to telecom operators. Such malicious calls are initiated by anti-national elements and are aimed at creating panic, an official release said, adding that the telecom operators have been directed to block malicious calls from such numbers. In a post on X (formerly Twitter), DoT cautioned the public about malicious calls from international numbers spreading false information about Indian stock exchanges. "The recorded message urges to sell Indian stocks before March 12, claiming impending destruction of BSE and NSE," as per a DoT social media alert. Regarding the malicious calls, the release said, "Citizens, on receiving such calls, are advised to report to DoT at help-sancharsaathi@gov.in or their telecom service providers.

Adani Group-Hindenburg row: SC will pronounce judgement on January 3

A bench of Chief Justice of India DY Chandrachud and Justices JB Pardiwala and Manoj Misra reserved its verdict on the order on various aspects related to the Hindenburg report in November 2023

Divine Power Energy to launch IPO by March; eyes Rs 400 cr turnover by 2026

Insulated wires and strips maker Divine Power Energy on Tuesday announced its plan to go public this year and raise funds from capital market to expand capacity as the company aims to increase turnover to Rs 400 crore by 2026. The Ghaziabad-based company intends to expand its production capacity by raising capital through an initial public offering (IPO), which is likely to take place in mid-February or early March of this year, Divine Power Energy Ltd ((DPEL) said in a statement. According to the statement, DPEL aims to achieve Rs 400 crore in revenue by March 2026. The company targets to double the revenue to Rs 300 crore by 2025 from Rs 150 crore in FY23. Rajesh Giri, Managing Director, DPEL, said in the statement, "We aspire to be a market leader in the manufacturing of insulated copper and aluminum wires and strips, setting benchmarks for quality and sustainability." He further stated that raising funds from capital markets will unlock the company's full potential by expanding

Rally in tech stocks in India faces earnings test as growth worries linger

While the rally was initially driven by a global rebound in tech stocks, the Federal Reserve's dovish pivot at the December policy meeting turbocharged the run

Stocks to Watch today, Jan 2: BHEL, Coal India, LIC, Nestle, TVS Motor

Stocks to Watch on Tuesday, January 2, 2024: BHEL has clarified that it has not bagged the order worth Rs 19,400 crore from NLC India Ltd

Markets witness stock-specific action, benchmarks ended with wild swings

Railtel, YES Bank, Vodafone Idea, and BHEL rose 2-6 per cent