Broader markets rally up to 3% ahead of Fed outcome; Nifty Media jumps 13%

NSE Nifty settled the day in the red ahead of the FOMC outcome later today

SI Reporter New Delhi

3:02 PM

Market Stats :: Buying in mid-, small-cap stocks keeps market breadth in favour of advanaces

2:50 PM

European shares rise on Evergrande relief, gains in travel & leisure

>> European stocks rose on Wednesday, recovering from its early-week losses after debt-laden developer China Evergrande said it would make some interest payments, while travel and leisure index jumped to a 14-week high.

>> The Europe-wide STOXX 600 index rose 0.5%, extending Tuesday’s bounce after its worst session in two months, with commodity-linked stocks also in the lead.

Source: Reuters

2:39 PM

Axis Bank commits Rs 30,000 cr till FY26 towards sustainable lending

These commitments are in line with the Sustainable Development Goals (SDGs), supporting India's commitments under the Paris Agreement.

"As part of its commitments, the bank has set a target of incremental lending of Rs 30,000 crore over the next 5 years, under wholesale banking towards pertinent sectors included in its Sustainable Financing Framework (SFF)," Rajesh Dahiya, Executive Director (Corporate Centre), Axis Bank told PTI. READ MORE

2:20 PM

ITC regains Rs 3-trillion market cap; stock hits 21-month high

ITC's market capitalisation returned to Rs 3 trillion-mark on Wednesday after the stock of the biggest cigarette and second largest fast moving consumer goods (FMCG) company hit a 21-month high on the bourses. The stock hit an intra-day high of Rs 244.70, up 1 per cent on the BSE today, and was trading at its highest level since December 2019. READ MORE

2:11 PM

Freshworks prices IPO at $ 36 per share, to raise over $1 bn via US listing

Software-as-a-service (SaaS) company Freshworks on Wednesday announced that the company has priced its initial public offering at $36 per share. At the current price, it may raise around $1.03 billion from the offering, taking its valuation to over $10.13 billion. The shares are expected to begin trading on the Nasdaq Global Select Market under the symbol “FRSH” on September 22, 2021, and the offering is expected to close on September 24, subject to customary closing conditions. In addition, Freshworks has granted the underwriters a 30-day option to purchase up to an additional 28.5 million shares of Class A common stock at the initial public offering price less underwriting discounts and commissions. READ MORE

1:59 PM

Nifty IT continues to gain in afternoon trade led by Mindtree, Tech Mahindra

1:34 PM

Evergrande stock surges nearly 20% on Frankfurt Stock Exchange

1:30 PM

Nifty Realty index zooms 8.5%; DLF, Godrej Properties surge 10% each

Shares of real estate companies were on a roll in trade on Wednesday on expectation of strong demand ahead of festive season, with several lenders already announcing a rate cut. Real-esate major DLF jumped 10 per cent to Rs 363.75, while Godrej Properties hit a new high on rallying 10 per cent to Rs 1,852. Both, stocks trade in the futures & option (F&O) segment, which has no circuit limits. READ MORE

1:19 PM

ALERT :: Jindal Saw rises 3% after CARE reaffirms credit rating

1:00 PM

KPIT Technologies to acquire 25% stake acquisition of Future Mobility

>> Over a period of three years, KPIT will acquire the balance shareholding

>> Majority shareholding is expected to be acquired in the last quarter of FY23

12:50 PM

Serum Institute of India to invest $68 million in U.K.'s Oxford Biomedica

>> Oxford Biomedica is one of the Covid-19 vaccine manufacturers for drug major AstraZeneca

Source: Reuters

12:40 PM

Route Mobile board approves raising up to Rs 2,000 cr via issuance of securities

>> The board has constituted and authorized a fund raising committee to decide the terms and conditions of the proposed fund raising

>> the board has decided to convene an extra-ordinary general meeting on Saturday, October 16, 2021 to seek the approval of the committee for the proposed fund-raising activities

12:30 PM

India to target children for Covid-19 vaccine from October: Report

All Indian children aged 12 or older will become eligible for Covid-19 vaccinations from next month, when drug maker Cadila Healthcare launches its ZyCoV-D product, two sources with direct knowledge of the matter told Reuters. The world's first DNA-based Covid-19 vaccine, ZyCoV-D won emergency authorisation from Indian regulators last month. From October, the company, better known as Zydus Cadila, will produce 10 million doses a month. READ MORE