Sensex tanks 461 pts, Nifty below 18,300 amid global rout; all sectors fall

CLOSING BELL: Among sectors, the Nifty PSU Bank index sunk the most, down nearly 3 per cent. This was followd by losses in the Nifty Realty, Pharma, and Media indices, down over 1 per cent each

10:51 AM

Sugar stocks sweeten in weak market on hopes of higher export limit

Sugar production in the country is expected to be 36.5 MT after diverting 4.5 MT of equivalent sugar for ethanol. Considering sugar consumption of 27.5 MT, the country would be having a surplus of 9 MT, which is likely to be exported, according to analyst at ICICI Securities READ MORE

10:41 AM

Tata Consumer, Hindustan Unilever in talks to buy tea major Girnar

Top consumer product companies Hindustan Unilever (HUL) and Tata Consumer Products, among others, are believed to be in the race to acquire Girnar Food & Beverages, the Gujarat-based tea major, at a valuation of Rs 1,000-1,500 crore. READ MORE

10:28 AM

Indegene files draft papers with Sebi; eyes Rs 3,200 crore via IPO

The OFS consists of up to 27 lakh equity shares to be sold by individual selling shareholders — Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair —and up to 3.36 crore equity shares by existing investors, including Carlyle, Brighton Park Capital and the Nadathur Family Office. READ MORE

10:20 AM

Wall Street's $43-trn stock trading to see major overhaul in over a decade

Broadly, the plans could lead to more stock orders filled on exchanges like Nasdaq and the New York Stock Exchange. Currently, a significant chunk of retail trades are handled by wholesale brokerages like Virtu Financial Inc. and Citadel Securities, which pay to process customer trades from firms such as Robinhood Markets. READ MORE

10:09 AM

IPO pipeline in India seen active in 2023 on smaller deals, shows data

The overall fundraising via IPOs next year “will be a little lower because it will be a choppy market but I think the primary market activity will continue reasonably well,” said Bank of America Corp’s Mumbai-based analyst Amish Shah. “There will be appetite for IPOs.” READ MORE

9:56 AM

GMM Pfaudler plunges 18% after over 11 mn shares change hands in block deal

According to media reports, Pfaudler Inc, a promoter of GMM Pfaudler, was looking to sell a majority of its stake in the company in a block deal that will likely fetch the shareholder Rs 2,278 crore. READ MORE

9:46 AM

Deepak Fertilisers to de-merge its mining chemicals & fertiliser businesses

Click here for de-merger plan

9:43 AM

Hindustan Foods jumps 5% on plan to acquire Reckitt Benckiser Health

Hindustan Foods Limited has executed Business Transfer Agreement for acquisition of Reckitt  Benckiser Health India Privat  Limited’s manufacturing facility in Village Sandholi, Baddi, Himachal  Pradesh as a move to further expand its Health Care & Wellness division.

Subject to fulfilment of the conditions precedent  set out under BTA, the transfer of the Undertaking is expected to be completed by H2 of calendar year .

2023.  
 

9:40 AM

IRCTC extends decline; OFS for retail investors opens today

9:38 AM

Ramkrishna Forgings up 1.5% on picking controlling stake in TSUYO Manufacturing

The board approved proposal to acquire up to 51 per cent stake in TSUYO Manufacturing, a Make-In-India startup company engaged in powertrain solutions for electric vehicles. 

9:34 AM

HPCL holds tepid gains on fund raise plan

The company aims to raise around Rs 10,000 crore in debt from domestic or overseas market to fund its oil refining and fuel marketing operations. READ MORE

9:31 AM

ONGC gains 2% on windfall tax reduction

9:30 AM

RIL gains over 1% as Centre slashes windfall tax

The Ministry of Finance slashed the tax on crude oil produced by firms to Rs 1,700 per tonne from the existing Rs 4,900 per tonne, a government notification said. READ MORE

9:28 AM

MARKET CHECK :: Sensex stages smart recovery

9:26 AM

BSE SmallCap Heatmap :: Index turns positive; Nava, UCO Bank, Deepak Fertilisers top gainers