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

10:33 AM

HAL, L&T gain up to 3% as government inks contracts worth Rs 9,900 crore

Shares of L&T were up 2 per cent to Rs 2,189.10 after the company bagged a contract worth Rs 3,100 crore for supply of three cadet training ships from the defence ministry. The ships will be indigenously designed, developed and constructed at L&T shipyard in Kattupalli, Chennai. READ MORE

10:23 AM

FMCG demand goes up in February as stores stock up for summer

Demand for fast-moving consumer goods (FMCGs) went up last month across India, as kirana stores stocked up their shelves in anticipation of a sizzling summer, according to data by retail intelligence firm Bizom. READ MORE

10:15 AM

Coal India to ITC: 10 stocks to hedge against share price volatility

Equity markets have been volatile over the past year. At such times, investors can look at firms that pay generous dividends, which can become a second income READ MORE

10:06 AM

Adani shares gain up to 5% after Group repays Rs 7,374 cr share-backed loan

The group said it has paid the ahead of its latest maturity in April 2025. With the repayment of the said Rs 7,374 crore to various International Banks and Indian financial institutions, the shares of four Adani listed companies shall be released, it said. READ MORE

9:56 AM

Comment :: Investors may adopt a twin strategy in near-term

The dominant trigger pushing the global equity markets up or down this year has been the economic data from the mother market US. This data has not been consistent and, therefore, the markets have been volatile responding to alternate bouts of positive and negative news. This see-saw movement appears likely to persist for some more time.

The latest negative factor, from the market perspective, is the Fed chief Powell’s comment that "the ultimate level of interest rate is likely to be higher than previously anticipated". So, markets are pricing in a 50bp rate hike in the next Fed meeting on March 21-22.

In the near-term, investors may adopt a twin strategy of opting for attractive fixed income returns with incremental investable funds while continuing to buy high quality stocks on market weakness.

Views by: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:45 AM

MARKET CHECK :: Indices trim losses

>> S&P BSE SENSEX: 60,113.85 level, down 110.61 points or 0.18%

>> NIFTY50: 17,674.80 level, down 36.65 points or 0.21%

>> S&P BSE MidCap: 24,736.76 level, down 36.79 points or 0.15%

>> S&P BSE SmallCap: 28,045.60 level, down 50.43 points or 0.18%

9:41 AM

Large Trade :: Nearly 13% equity changes hands on Kirloskar Oil

9:40 AM

IGL, Genesis Gas Solutions enter into JV; stock up 1%

The company and Genesis Gas Solutions have entered into a joint venture agreement to set up India’s first Integrated Smart Meter manufacturing plant with capital expenditure of Rs 110 crore.

9:39 AM

NBCC gains on receipt of new work orders

The company received work orders for three projects cumulatively valued at Rs 541.02 crore. It also received the letter of award for construction of residential accommodation at Institute of Liver and Biliary Sciences, New Delhi for a contract value of Rs 90 crore.

9:37 AM

SAT stays penalty imposed by Sebi against Coffee Day Enterprises; stock leaps 4%

The Securities Appellate Tribunal stayed a SEBI penalty of Rs 26 crore against the company in a case of alleged fund diversion from seven subsidiaries to an entity related to the promoters.

9:36 AM

Ajanta Pharma gains 2% as Board to mull share buyback plan

The board will consider a proposal for buyback of the equity shares of the company on March 10.

9:34 AM

IPRS agrees to withdraw insolvency petition against ZEE; stock up 1%

The company entered a settlement agreement with operational creditor Indian Performing Rights Society to settle all claims and disputes. Subsequently, IPRS has withdrawn its insolvency petition against the company.

9:33 AM

L&T in green as it bags contract worth Rs 3,100 crore

The company has also bagged a contract worth Rs 3,100 crore for supply of three cadet training ships from the defence ministry. The ships will be indigenously designed, developed and constructed at L&T shipyard in Kattupalli, Chennai.

9:30 AM

HAL bags order for 70 HTT-40 trainer aircraft; stock up 2.3%

Hindustan Aeronautics has received an order for 70 HTT-40 trainer aircrafts worth over Rs 6,800 crore from the defence ministry.

9:29 AM

GAIL (India) Board will meet on March 13 to decide on interim dividend; stock up 2%