Sensex gains 124 pts, Nifty tops 17,750; IndusInd Bank up 5%, Adani Port 3%

CLOSING BELL: Bottom fishing in select heavyweights lifted benchmark indices off lows, leading to a positive close for a third consecutive day on Wednesday

1:18 PM

Mahanagar Gas' Unison Enviro acquisition lights up its growth prospects

Mahanagar Gas (MGL) has acquired Unison Enviro (UEPL), an entity previously owned by Ashoka Buildcon and North Haven, which is an affiliate of Morgan Stanley India Infra Fund. MGL will take 100 per cent stake in UEPL for a consideration of Rs 531 crore. MGL is a leading natural gas distribution company supplying compressed natural gas (CNG) to vehicles and piped natural gas (PNG) to domestic, commercial, and industrial consumers in Mumbai, Navi Mumbai, Thane and adjoining areas and Raigad district. READ MORE

1:07 PM

BSE 500:: Shree Renuka, Balrampur Chini, HAL among top gainers

Shree Renuka Sugar up almost 9 per cent was the top gainer among the BSE 500 stocks so far on Wednesday. It was followed by Balrampur Chini, TCNS Clothing, Privi Speciality and Hindustan Aeronautics, up 6 - 8 per cent each.

12:55 PM

ALERT :: Govt announces all crypto businesses would come under PMLA

12:50 PM

ALERT :: GQG Partners eyes more stake in Adani Group

12:43 PM

Volatility in steel prices likely to continue in medium-term: SteelMint

The volatility in steel prices is likely to continue in the medium-term due to the impact of geopolitical situation on supply chain logistics, according to SteelMint. 
READ

12:32 PM

Vardhman Special Steel soars 9% on starting production for Toyoto Group Co

The company said sales of these products for FY2023- 24 will be 10,000 MT approx and further increase with receipt of more approvals in next 2-3 years. READ

12:14 PM

Rupee slides as Federal Reserve's Powell hints at higher US terminal rates

The rupee weakened sharply against the US dollar in early trade Wednesday after comments by Federal Reserve Chair Jerome Powell suggested that the central bank would tighten monetary policy to a greater extent than earlier anticipated. READ

11:58 AM

ALERT: Natco Pharma board approves buyback of 30 lakh shares for up to Rs 210 crore

11:48 AM

Kirloskar Oil Engines surges 18%, hits over 5-yr high after huge block deal

As many as 25.62 million equity shares, representing 17.7 per cent of total equity, worth Rs 825 crore of KOEL changed hands on the NSE, the exchange data shows. READ

11:37 AM

Bulls ride PSE index to historic peak, half of index stocks on breakouts

Altogether 10 out of 20 stocks in Nifty PSE index are flashing breakout structures that reflect medium-term bullishness. READ

11:25 AM

Is it time to move away from equities and focus on debt? What analysts say

US Fed chair Jerome Powell has reiterated that the Federal Open Market Committee (FOMC) is likely to raise rates further than previously anticipated. READ

11:13 AM

Sugar shares in focus; Dwarikesh, Balrampur, Dhampur, Dalmia gain up to 5%

India has a cushion to export an additional 1 million tonnes of the sweetener if the domestic output reaches an estimated 33.6 million tonnes this year. READ

11:04 AM

MCX Crude Oil may soon breakout; Bias negative for Natural Gas below Rs 224

The anticipated trading band for the MCX Crude Oil futures has got narrower to Rs 6,180 - Rs 6,660. Broader trend for Natural Gas remains weak as the commodity trades below 200-WMA. READ MORE

10:53 AM

Adani Group loan repayment: How do promoters raise money through pledging?

In the context of the Adani Group, share pledging here refers to the promoters pledging their shares. It is a fund-raising mechanism.

 

Here, the promoters keep a part of their shareholding with the banks as collateral to get loans. It is used to raise money without diluting their holding in a company. READ MORE

10:44 AM

Dr Reddy's recalls over 4,000 bottles of drug in US

New Jersey-based Dr Reddy's Laboratories Inc, a unit of the company, is recalling the affected lot due to "Presence of one Tacrolimus 1 mg capsule co-mingled in a bottle containing and labeled as Tacrolimus 0.5 mg capsules," USFDA said in its latest Enforcement Report. READ MORE