Sensex rises 300 pts, Nifty tops 17,600 despite global weakness; PSBs lead

CLOSING BELL: Gainers outnumbered the losers on the frontline indices today, led by M&M, Bajaj Finance, SBI Life, Adani Ports, HUL, Bajaj Finserv, Nestle India, Eicher Motors, HDFC, ITC, and Infosys

12:39 PM

The $1.3 billion Amara Raja Group sets sights on EV batteries now

The $1.3-billion group will be investing around Rs 7,000 crore on lithium-ion, while continuing its focus on traditional lead acid batteries. READ MORE 

12:29 PM

Decoded: What is National Logistics Policy and how will it get implemented?

Prime Minister Narendra Modi on Saturday launched the National Logistics Policy (NLP) that aims to promote seamless movement of goods across the country and improve the competitiveness of Indian goods in domestic as well as export markets. Let’s understand the government’s road map on how to achieve this... READ MORE

12:22 PM

BSE 500:: Top gainers so far

Privi Speciality Chemicals zoomed 11 per cent and was the top gainer among the BSE 500 stocks so far on Monday. It was followed by Ambuja Cements, Escorts Kubota, Nuvoco Vistas and PNB Housing.

12:14 PM

Ambuja rallies 10% on Adani's Rs 20K-cr boost; brokerages mixed on outlook

Analysts remain positive on Ambuja Cement's long-term market share gains, but caution against any possible dent in the company's profitability due to excess supply in the market. READ MORE

12:05 PM

Meet Karan Adani, eldest son of Gautam Adani set takeover as chair of ACC

Karan, who holds a degree in Economics from Purdue University, started his corporate career at Mundra port -- the first mega project undertaken by the Adani group. READ MORE

11:56 AM

IRCTC set to enter payments sector, eyes aggregator license from RBI

At present, IRCTC already has I-PAY, its in-house payment gateway. Read here

11:45 AM

Arfin India approves 1:10 stock split, moves 1% up

11:38 AM

Oyo reports its first EBITDA positive quarter, reduces FY22 losses

Hotel aggregator reports revenue of Rs 1,459.3 crore in FY22, growing 18% from last year. Read here

11:28 AM

DEFENCE STOCKS | Swastika Investmart bullish on BEL, HAL, and BDL

The defense sector is poised to perform well on the back of strong ordering activity, the government’s thrust on indigenous manufacturing, and export potential.

Additionally, strong balance sheets and reasonable valuations are cheery on the cake. We are positive about the sector and our top picks are BEL, HAL, and BDL

Views by Punit Patni, Equity Research Analyst, Swastika Investmart

 

11:15 AM

McLeod Russel zooms 42% in 2 days after Carbon Resources buys 5% stake

On September 16, 2022, Carbon Resources (P) Ltd bought 4.95 million equity shares, representing 4.73 per cent, of total equity of MRIL. Read here

11:01 AM

Positive triggers factored into Hindustan Unilever's stock price

Falling raw material prices expected to help margins recover in Q3. Read here

10:42 AM

COMMENT | Advise investors to wait & watch till US Fed policy outcome

The near term texture of the market has turned weak and the buy on dips strategy is unlikely to work in the present risk-off global environment.

FIIs turning sellers is a short-term negative. The market is likely to take a decisive trend only after the Fed policy announcement on 21st September.

The market expects the Fed to raise rates by 75bp and reiterate its hawkish stance. But since the market is going into the event with light positions and no positive expectations any positive data or comment may act as a trigger for a relief rally after the Fed announcement.

Bank Nifty will continue to be the pillar of support for Nifty and near-term sentiments are negative for IT despite reasonable valuations.

The situation is very fluid and therefore it would be better for investors to wait and watch till the Fed meeting is over.

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

 

10:30 AM

Ambuja Cements hits new high, gains 8% on Adani's Rs 20,000 cr funding plan

The company's new board approved an infusion of Rs 20,000 crore by way of preferential allotment of 477 million convertible warrants at a price of Rs 419 to Harmonia Trade and Investment. Read here

10:17 AM

MCX Gold can fall sharply if it breaks 100-WMA; Silver needs to win 100-DMA

The MCX Gold October futures 100-WMA is placed at Rs 48,900, sustained trade below which can trigger a 10 per cent slide. Silver futures need to conquer multiple hurdles. Read here

10:08 AM

Indo National surges 12% on winning Rs 113 cr orders

Indo National bags orders worth Rs 113 crore from ICF, Chennai.