F&O expiry: Sensex soars 1,041 pts, Nifty tops 16,900; Bajaj twins leap 10%

CLOSING BELL: Tata Steel, Kotak Bank, IndusInd Bank, Nestle, Infosys, Asian Paints, and Tech M were the other outperformers, up between 3 per cent and 4.6 per cent

11:54 AM

Tata Steel jumps 5% after turning ex-date for 1:10 stock split

The company had fixed Friday, July 29, 2022 as the 'Record Date' for the purpose of determining the eligibility of shareholders for the purpose of sub-division /split from Rs 10 to Re 1. READ MORE

11:46 AM

Rupee, bonds gain on 'less hawkish' policy despite US Fed rate hike

Indian government bonds and the rupee strengthened on Thursday despite a 75-basis-point (bp) rate hike by the US Federal Reserve as key aspects of the central bank’s commentary were perceived as indicating that future policy tightening may occur at a slower pace in the world’s largest economy. READ MORE

11:37 AM

BSE 500:: Top gainers so far

Bajaj Finance and Bajaj Finserv Insurance have surged over 8 per cent each and were the top gainers among the BSE 500 stocks so far on Thursday. IFB Industries, Bharat Dynamics and Bajaj Holdings were few of the other major gainers.

11:26 AM

Institutional investors pushing back more on top executive pay hikes

Investors are pushing back more often against companies’ resolutions on what is paid out to top executives. Rejection of resolutions on remunerations rises; investors becoming more discerning, say experts READ MORE

11:14 AM

Bajaj Finserv surges 8% ahead of board meet for bonus, stock split

In the past three trading sessions, the stock has gained 14 per cent after the company on Tuesday, July 26, announced its plan for stock split/bonus issue. Bajaj Finserv said that the board will meet on July 28, to consider sub-division of equity shares of the company of face value of Rs 5, and/or issue of fully-paid bonus equity shares to the members of the company. READ MORE

11:03 AM

June Quarter Result :: Nestle India posts profit of Rs 515.3 crore, misses estimates

>> Revenue at Rs 4,036.5 crore

>> Ebitda at Rs 819 crore

10:58 AM

WATCH :: Are telecom stocks worth your hard-earned money?

10:48 AM

Q1 results: Private banks' net profit rises 47% on fall in provisions

Private sector banks posted 47.2 per cent year-on-year (YoY) growth in net profit in the April-June quarter (first quarter, or Q1) of 2022-23 (FY23) on sharp fall in provisions and contingencies. READ MORE

10:35 AM

Decent upside in L&T stock; analyst recommendations strongly positive

Infrastructure and engineering giant, Larsen & Toubro (L&T), reported encouraging results in the first quarter of the 2022-23 financial year (Q1FY23) and strong order-flows going forward. A change in the commodity cycle could cut costs and lead to better Ebitda margins going forward though the company also has significant exposure to higher interest rates. READ MORE

10:25 AM

ALERT :: May roll-back windfall tax if crude prices fall further, says Revenue Secy

>> No plan to do extra market borrowing in FY23

>> US Fed rate hike on expected lines

>> Well on track to stick to fiscal deficit target of FY23

10:24 AM

Analysts expect FII flows to Indian equities to pick up in H2

However, analysts do caution against intermittent phases of withdrawals by FIIs given macro-economic developments across major world economies.Read here

10:15 AM

Market view: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

>> Even after the 75 bp consecutive rate hike by the Fed and indication that "another unusually large increase would be appropriate in the next meeting" the US markets staged a smart bounce back with S&P 500 and Nasdaq rising by 2.62% and 4.06% respectively. The market seems to be taking cue from the Fed chief's observation that, "I don't think we are in a recession now, the labour market continues to be tight."

>> Data - unemployment at 50-year lows and job vacancies at historical highs - seem to support the Fed chief's confidence about the US economy.

 

>> The July rally in the domestic market which has taken the Nifty up around 1500 points from the June lows seems to be intact for the very short-term.

IT stocks after the recent correction may rebound taking cues from the Nasdaq  rally and the continuing strength of the US economy. Financials will continue to be resilient.

10:06 AM

Bajaj Finance rallies 10% in two days on healthy June quarter results

Thus far in the month of July, the market price of Bajaj Finance has appreciated 27 per cent, as compared to 6 per cent rise in the S&P BSE Sensex. READ MORE

9:57 AM

Bajaj Finserv jumps 5% ahead of Q1FY23 results

9:50 AM

Colgate declines 1% after profit drops 10% YoY in Q1