Sensex gains 550 pts, Nifty near 17,500; PSB index up 4%, HDFC twins weak

CLOSING BELL: The gains were largely led by bank, auto, IT, and FMCG stocks. Their sectoral indices were up over 1 per cent each

12:39 PM

Dalmia, Sagar Cements in race to buy debt-ridden Andhra Cements

Dalmia Cement (Bharat) and Sagar Cements have emerged as the top contenders to acquire Andhra Cements, which is undergoing bankruptcy process after it failed to repay its debt. READ MORE

12:29 PM

Mark Mobius warns Fed interest rates will hit 9% if inflation persists

“If inflation is 8%, the playbook says you’ve got to raise rates higher than inflation, which means 9%,” the co-founder of Mobius Capital Partners told Bloomberg TV on Monday. While policy makers may not hike so aggressively should consumer prices soften, the 86-year-old investor said he doesn’t see inflation receding “anytime soon.” READ MORE

12:18 PM

Seasonal gains, deal pipeline point to strong FY23 for L&T Infotech

Sequential revenue growth at 4.6 per cent was led by the larger verticals of banking and financial services and insurance, which were up 4.5-5 per cent each. The two verticals together accounted for about 48 per cent of overall revenues. Energy and utilities was the best performer in the quarter with a 14 per cent growth. READ MORE

12:08 PM

RBI should pause rate hikes as growth fears loom, says MPC's Varma

India's central bank should pause interest rate hikes, despite unacceptably high inflation, to avoid stalling a recovery in economic growth, monetary policy committee member Jayant Varma said. READ MORE

12:02 PM

Nifty PSU Bank index extends rally into 3rd day; SBI surges 3%, PNB 5%

Shares of public sector undertaking (PSU) banks were trading higher for a third straight day, with the Nifty PSU Bank index surging 6.5 per cent in the past two trading days on the National Stock Exchange (NSE). READ MORE

11:47 AM

Interpol's crack team to 'follow the money' in crypto crimes, says official

The world’s largest police body with 195 members has formed a specialised team in Singapore to help countries combat crimes involving virtual assets. Interpol Secretary-General Jürgen Stock, who is in Delhi for the 90th General Assembly of Interpol starting Tuesday, said at a press conference on Monday that cryptocurrencies like Bitcoin and Ethereum pose challenges to law enforcement agencies in the absence of a legal framework. READ MORE

11:37 AM

BSE 500:: Top losers so far

Tata Elxsi down over 5 per cent was the top loser among the BSE 500 stocks so far. Max Healthcare, Minda Corp, Thyrocare Technologies and Schaeffler India were the other notable losers, down around 5 per cent each.

11:27 AM

Stocks of jewellery cos will continue to sparkle in the long-term: Analysts

Analysts remain fairly optimistic on jewellery players as softening gold prices and the ongoing festive season makes a case for sustained demand momentum going forward. READ MORE

11:17 AM

Data Patterns hits new high on strong outlook; zooms 139% from IPO price

In the past three months, the stock has zoomed 95 per cent, as compared to 8 per cent rise in the S&P BSE Sensex. READ MORE

11:07 AM

Rupee advances 22 paise to 82.08 against US dollar in early trade

The rupee appreciated 22 paise to 82.08 against the US dollar in early trade, tracking positive domestic equities and an overnight fall in the dollar index. READ MORE

10:59 AM

Samvat 2079: What is Muhurat trading? Check date, stock market timing

The Muhurat trading session on October 24, 2022, will mark the beginning of Samvat 2079. READ MORE

10:52 AM

Asian Markets Update:: Nikkei, Hang Seng up 1.5% each

Source: Yahoo Finance

10:42 AM

Samvardhana Motherson plunges 7%, hits 52-week low after block deal

At 09:15 AM, around 133.35 million shares representing 2.95 per cent of total equity of the company changed hands on the BSE, the exchange data shows. READ MORE

10:32 AM

BSE 500:: Top gainers so far

RHI Magnesita up 7.3 per cent was the top gainer among the BSE 500 stocks so far on Tuesday. It was followed by Vakrangee, Indiamart Intermesh, Suzlon Energy and Deepak Fertiliz Fertilizers.

10:22 AM

NEWS ALERT :: Bank Of England to delay quantitative tightening until gilt mkts calm, reports Financial Times