Thursday, January 09, 2025 | 12:29 AM ISTEN Hindi

Global rout sends Sensex 525 pts lower; metal index tumbles 7%, PSU bank 4%

Only six of 30 Sensex stocks ended in the green, mainly from the FMCG and financial space

SI Reporter New Delhi

Experts further said that retail investors should be clear on whether they are taking short-term positions based on the sentiment or investing for the long term.

1:12 PM

ALERT :: Government will block Chinese money in IDBI Bank as banking is a strategic sector

Source: TV reports

1:06 PM

Mid-market view | Likhita Chepa, Senior Research Analyst, CapitalVia Global Research

The Indian benchmark had a negative start in the market following the negative global sentiments and among the Asian peers. On the basis of unfavorable global cues, losses in metal, auto, Basic Materials, and Power equities weighed on the market. The session had been unfavorable for broader indices as well. The news that the country's foreign exchange reserves had fallen by a third hit sentiment hard. Our research suggests that 17500 will be an important level if the market sustains above this level We can expect a higher range of 17850 in the short term.

12:55 PM

Surya Roshni soars 28% in 2-days, hits new high on FPI stake purchase

Shares of Surya Roshni hit a new high of Rs 840, on rallying 8.5 per cent on the National Stock Exchange (NSE) in intra-day trade on Monday. The stock has soared 28 per cent in past two trading days, after the foreign portfolio investor (FPI) bought 0.79 per cent stake in the company via open market. On Friday, 17 September, 2021, Employees Retirement System of Texas – Self Managed Portfolio purchased 427,789 equity shares representing 0.79 per cent stake in Suyra Roshni at price of Rs 720.83 per share on the NSE, the bulk deal data shows. The name of seller is not ascertained immediately. READ MORE

stocks, markets, funds, growth, investments

12:40 PM

Nifty Bank continues to fall in trade, down 0.8%

>> Top drags include PNB, Federal Bank, SBI

12:38 PM

ALERT :: Tata Power receives LoI from MAHAGENCO to supply 250 MW power in Maharashtra

>> TP Saurya Limited (TPSL), a wholly owned subsidiary of Tata Power, received the 'Letter of Intent' (LoI) from Maharashtra State Power Generation Co. Ltd. (MAHAGENCO) for setting up of 250 MW Grid-Connected Solar Photovoltaic Power plant in Maharashtra.

12:20 PM

ALERT :: VST Tillers launches the 95 DI Ignito - Power Tiller & range of brush cutters

>> The 95 DI Ignito Power Tiller has features like Powerful 9 HP Diesel Engine, Electric Start, PTO & easy financing, repayment instalment options for as low as Rs 121 per day

>> The Brush Cutters offers a wide range to handle requirements like Weeding, Crop Cutting, Trimming in farming, orchard, nursery, and gardening applications

12:04 PM

Alkem Labs board approves closure of operations at Beta Block (Unit II) manufacturing unit located at Baddi

>> Turnover from this unit is Rs 43.25 cr or 0.60% of total turnover

>> The company closed the unit to avoid operating expenditure in Baddi

>> Pursuant to the date of closure, this facility shall be used as a warehouse

11:56 AM

Hotel stocks rally; Indian Hotels at new high, Chalet, EIH gain up to 14%

Shares of hotel companies were in focus and rallied up to 14 per cent on the BSE in intra-day trade on Monday on hopes of business revival following unlocking of the economy and pick-up in travel. The management’s commentary on strong revival from July onwards is encouraging and analyst believe business will be back to pre-Covid level by Q4FY22, if there won’t be third wave of the pandemic. READ MORE

Hotels, tourism, hospitality, Hill stations

11:49 AM

Tech View: Can airline stocks fly higher or will they run out of fuel soon?

Shares of aviation companies have been in the spotlight of late following robust August data, which shows a 34 per cent increase in passenger traffic during the month over the volumes in July. The Street is bullish about strong passenger load factors and plans by the two listed entities to expand their network in the domestic market. READ MORE

Similar to 9/11, the fear of flying has also hit business travel the hardest and it is expected to return the last — and only after a revival of leisure travel.

11:41 AM

CARE revises Hindustan Aeronautics' rating to 'AAA' from 'AA+'

>> The rating agency maintained its stable outlook on the company

11:31 AM

Nifty Media top sectoral gainer; up over 3%

>> Top gainers include Inox Leisure, PVR, ZEEL

11:13 AM

ITC hits 52-week high as Jefferies raises target; stock up 12% in 3 days

Expectations of improved outlook drove the shares of ITC to a fresh 52-week high of Rs 239.40, up 4 per cent on the BSE in the intra-day trade on Monday, surpassing its previous high of Rs 239.15, touched on February 9, 2021. In the past three trading days, the stock of the cigarette and fast moving consumer goods (FMCG) major has rallied 12 per cent, as compared to a 0.59 per cent rise in the S&P BSE Sensex. READ MORE