Sensex ends choppy day 49 pts down; DreamFolks rallies 42%; pvt banks weak

DreamFolks Services made a strong stock market debut as its shares got listed at Rs 508.70, a 56 per cent premium over its issue price of Rs 326 per share on the National Stock Exchange (NSE)

10:30 AM

DreamFolks Services dazzles on debut, stock zooms 56% over issue price

Shares of DreamFolks Services listed at Rs 508.70, a 56 per cent premium when compared with the issue price of Rs 326 per share on the National Stock Exchange (NSE) on Tuesday. Read more

10:16 AM

COMMENT | Indian markets' resilience surprising despite global headwinds

The resilience of the domestic market even in the context of strong global headwinds is a bit surprising. Clearly, India is outperforming the rest of the world. While the S&P 500  is down 18% this year, Nifty is up by 1.8%.

Retail investor enthusiasm - directly and through SIPs in mutual funds - has supported the market successfully shielding it from the onslaught of sustained FPI selling from October 2021 through June 2022. In this context, the total demat accounts in India crossing the 10cr mark in August is indeed, a proud landmark.

 

However, retail investors directly investing in the market should not commit the mistake of chasing low-grade cheap stocks. High quality large-caps will outperform when the market  turns weak.
 

Presently, the market is driven by momentum and bulls are in control. Bank Nifty is on the verge of a break-out and has fundamental support."

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

10:01 AM

BUMPER LISTING | Dreamfolks Services lists 55% higher over issue price

Issue price was fixed at Rs 326 a share

9:53 AM

Market Check :: Nifty pares gains, slips below 17,700

9:40 AM

Market Check :: Sensex loses steam; up 80 pts

9:38 AM

Paytm gains in trade post August business update; Loan distribution biz scales to 6 million loan disbursals

>> Loan distribution business scales to 6.0 million loan disbursals during the two months ending August 2022 (y-o-y growth of 246%), aggregating to loan disbursements of Rs 4,517 Cr ($568 million, y-o-y growth of 484%)

>> Offline payments leadership strengthens with total number of devices deployed exceeding 4.5 million

>> Consumer engagement is at its highest on Paytm Super-App with average monthly transacting users (MTU) at 78.8 million for the two months ended August 2022, up 40% y-o-y

>> 72% Y-o-Y increase in merchant payment volumes (GMV) for the two months ended August 2022 at Rs 2.10 Lakh Cr ($26 billion)

 

9:36 AM

Block Deal :: Syngene International in red after 23.3 million shares change hands on BSE

>> As per reports, Biocon was to sell sell 5.1 per cent stake or 2.18 crore shares in the company. The deal size is around Rs 1,250 crores.

9:34 AM

Kalpataru Power surges over 7% on new orders win worth Rs 1,345 crore

9:33 AM

Inox Leisure gains in-line with PVR

9:31 AM

PVR-Inox Leisure shareholders to meet on Oct 11 to approve merger proposal

>> NCLT, Mumbai Bench has given directions to the Company to convene meeting of the Equity Shareholders of the Company on Tuesday,11th October, 2022 for the purpose of considering, and if thought fit, approving the proposed Scheme. READ MORE

9:28 AM

NTPC acquires Jhabua thermal project of Gautam Thapar-owned Avantha Group; stock gains 0.7%

>> India’s largest power generating company, has acquired the stressed Jhabua thermal project (600Mw) of Gautam Thapar-owned Avantha Group, through the Insolvency and Bankruptcy Code (IBC) process.

9:27 AM

REC rises mildly on fund raising plan

>> The state-run firm will seek shareholders' approval on September 16 to raise up to Rs 75,000 crore through issuance of bonds. 

9:26 AM

Tata Motors launches first CNG-run truck; stock up over 0.5%

>> The Tata Group company launched India’s first CNG truck in the medium and heavy commercial (M&HCV) vehicle segment in the 28- and 19-tonne nodes

9:24 AM

Reliance Industries gains 1% on majority acquisition in SenseHawk

>> The Mukesh Ambani-led firm signed a definitive agreement to acquire a majority stake in SenseHawk Inc for a total transaction value of $32 million, including funding for future growth, commercial rollout of products, and R&D.

9:23 AM

SmallCap check :: Select stocks zoom 8-10% in early deals