Sensex leaps 446 pts, Nifty tops 17,100 as RIL, Bajaj Fin gain 3%; IT slips

CLOSING BELL: The market breadth was firmly in the favour of buyers as the broader markets, too, rose in tandem with the benchmark indices

1:23 PM

Manappuram Finance extends gain; stock rallies 14% thus far in March

Shares of Manappuram Finance gained 3 per cent to quote Rs 116.85 on the BSE in Tuesday's intra-day trade, extending its past four days' upward movement. Moreover, in the past one week, the stock has rallied 6 per cent as compared to 0.11 per cent decline in the S&P BSE Sensex. READ MORE

1:13 PM

India to see avg salary hikes of 10.2% in 2023, biggest in e-commerce: EY

Average salary hikes in India will be lower in 2023 compared to 2022, says EY's 'Future of Pay 2023' report. E-commerce, professional services and IT to the biggest hikes. READ MORE

12:50 PM

NMDC hikes iron ore lump rate by Rs 100/tonne; fines Rs 200 per tonne

The prices are effective from Tuesday and exclude royalty, district mineral fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee and other taxes, the company said. READ MORE

12:41 PM

Nifty Media rises 1%, gains led by Zee, PVR

12:27 PM

Amul aiming to become a total foods and beverages company: MD Jayen Mehta

Commenting on high inflation in the dairy sector and three price hikes in the last one year, Mehta said that it was 'imperative' as 'cost of feed and fodder is a direct cost to the farmer' READ MORE

12:10 PM

HDFC AMC gains 5% after SBI MF bought over 2% stake via open market

GQG Partners Emerging Markets Equity Fund sold 2.48 million shares in HDFC AMC worth Rs 396.83 crore. READ MORE

11:59 AM

4 reasons why HSBC thinks Zomato is a great buy at the current levels

HSBC said, Zomato has seen an improvement in the market share it lost to Swiggy, thanks to the launch of Zomato Gold READ MORE

11:50 AM

Foreign bank crisis may impact Indian IT services FY24 growth: Analysts

TCS has exposure to USA’s Silicon Valley Bank (SVB), Credit Suisse and UBS, which has agreed to take over the Swiss bank. “We estimate SVB exposure is 10-20bps for TCS, Infosys and LTIM that may lead to a provision in 4Q23. While this has driven a correction and taken multiples down by 0.5-1SDs, estimates don’t factor in the increased EPS risk from any further slowdown in spending,” said a JP Morgan report. READ MORE

11:40 AM

Keep your money safe: Stick to systemically important banks for safety

Recent collapses of banks like Silver Valley and Signature in the United States, as well as European bank Credit Suisse's travails, have left customers worldwide feeling uneasy. In India, past incidents involving banks such as Punjab & Maharashtra Cooperative (PMC), Yes Bank, Lakshmi Vilas Bank, Global Trust Bank, and others have also added to concerns. READ MORE

11:29 AM

Sterling & Wilson jumps 9% as it emerges bidder for Rs 2,100 cr project

Sterling & Wilson offers design, detailed engineering, procurement, construction, installation, commissioning and operations & maintenance services under turnkey EPC and BoS (Balance of System) solutions for utility-scale, rooftop and floating solar power projects. The company also offers solar plus storage solutions. READ MORE

11:20 AM

Credit Suisse bankers seek new jobs, flood headhunters with calls

One firm in Singapore handled questions from some 30 mostly Credit Suisse private bankers about available jobs on Monday, while another recruiter in Hong Kong has been talking to more than 20 senior investment bankers since last week, the people said, asking not to be identified discussing confidential information. Meanwhile, a firm that’s focused on managing director hires said it has received such calls since late Friday, especially for the wealth area. READ MORE

11:08 AM

UBS needs RBI approval to operate Credit Suisse as a bank in India

This is because UBS had surrendered its bank licence about a decade back after the banking regulator denied its request to offer wealth management services READ MORE

10:58 AM

Hariom Pipe hits new high, up 4% on shareholders nod for preferential issue

The stock of iron & steel products maker surpassed its previous high of Rs 468, touched on March 14, 2023. In past three months, it has zoomed nearly 50 per cent, as compared to 5 per cent decline in the S&P BSE Sensex. Further, in past six months, it skyrocketed 80 per cent, as against 3 per cent fall in the benchmark index READ MORE

10:47 AM

Foreign investment in India slowing but shift from China spells opportunity

India’s headline foreign direct investment (FDI) numbers rose from $62 billion in 2018-19 to a record $84.8 billion in 2021-22. READ MORE

10:38 AM

Fear of financial crisis keeps investors away from stock exchanges

"Nifty (at NSE) snapped a two day rise on March 20 and closed in the negative, though after witnessing a sharp rebound from the afternoon lows. At close, Nifty was down 0.65 per cent or 111.7 points at 16,988.4," said Deepak Jasani, Head of Retail Research, HDFC Securities.

 

Volumes on the NSE fell compared to the recent average. Broad market indices fell more than the Nifty reflecting higher panic among non-institutional players, he added. READ MORE