Sensex ends 326 pts lower ahead of GDP data; RIL, Tata Steel slip 2%

CLOSING BELL: The Sensex and Nifty extended their losing streak into the eighth straight day on Tuesday; BSE benchmark has now shed 2,358 points, and NSE index 732 points in this period.

10:46 AM

WATCH: Will strong order book build steam for road-infra players?

10:35 AM

Foseco India surges 9%, hits over 5-year high on strong Dec quarter results

Shares of Foseco India rallied 9 per cent to hit an over five-year high of Rs 2,189 on the BSE in Tuesday’s intra-day trade after the company reported a 51 per cent jump in its net profit to Rs 1,226 crore in the December quarter (Q4CY22). READ

10:22 AM

Adani Group fallout? NBFC loans against shares under RBI scanner

The central bank's Department of Supervision sought this information over the past week, and the deadline for submission of large exposure was on Monday, informed a source. READ

10:10 AM

Zee Entertainment jumps 6% as NSE reincludes stock in F&O segment

The stock of TV broadcasting & software production had dipped 15 per cent in past six trading days between February 17 and February 27. READ

9:56 AM

No refinancing, capital plans at HK roadshow, says Adani Group CFO

The crisis-ridden Indian conglomerate is continuing an investor roadshow in Hong Kong Tuesday to ease concerns about its financial health and corporate governance induced by a short-seller’s allegations. It held a series of investor meetings on Monday in Singapore, where executives said the group has enough money to repay debt due over the next three years in addition to an $800 million credit facility. READ MORE

9:47 AM

Comment :: 'Smart money is chasing fundamentally strong banking names'

Sustained FII selling (Rs 5,488 crore in the last 4 days) will act as a drag on the market in the near-term. Weak participation by retail/HNIs have emboldened FIIs to press sales on every mild rally. This trend might continue.

But a significant feature of the market trend is the strength being exhibited by the banking sector. Smart money is chasing fundamentally strong banking names. Investors should appreciate the fact that the selling in banking is overdone and some bluechips are available at attractive valuations. For instance, Axis Bank is now trading at 1.5 times forward PB.

IT valuations are also turning attractive for long-term investors. Attractive valuations can trigger buying in beaten down segments. The PCR and derivatives activity indicate an oversold market.

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

9:36 AM

MARKET CHECK :: Sensex at day's high, rises nearly 200 pts

9:34 AM

Triveni Glass surges 5% on Rs 1,000-crore investment plan

The company will invest Rs 1,000 crore to set up a 840 metric tonnes per day capacity solar glass manufacturing plant in Andhra Pradesh. The glassmaker will set up the plant at Pangidi in East Godavari district, which will create 2,000 jobs.

9:31 AM

Mastek gains 1.5% on pact with Netail

The company inked a pact with Netail to usher AI-led digital transformation to the retail, and consumer industry. The management said that the partnership would help e-Commerce and Omni-channel retailers optimise their retail value-chain and thereby attract, convert, and retain digital consumers.

9:29 AM

Tanla Platforms rises 1% on launch of solution against SMS phishing

The company launched Wisely ATP – an innovative solution for protection against SMS phishing – at Mobile World Congress (MWC) Barcelona 2023. Wisely ATP is a one-stop platform to combat the challenge of SMS phishing comprehensively.

9:27 AM

Bharti Airtel dips half a per cent despite tariff hike expectations

Chairman Sunil Bharti Mittal said since return on capital in the telecom business is quite low, a tariff hike is soon slated to be out by mid of this year. Inspite of strong balance sheets, on the back of healthy capital infusion, the return on capital of this industry is very low, he said.

9:25 AM

SpiceJet falls 3% after two-day winning run

>> In a move to reduce its debt by $100 million, Carlyle Aviation Partners will acquire 7.5 per cent stake in the airline, by converting outstanding dues, and snap up shareholding in the cargo business. That apart, the airline will also tap the qualified institutional buyer (QIB) route to raise up to Rs 25,000 crore.

9:23 AM

Broader markets :: Across the board buying; Mid, SmallCap indices slightly outrun benchmarks

9:21 AM

Sectoral trends :: Most indices in green; Nifty Auto up 1% ahead of monthly sales numbers

9:19 AM

Sensex Heatmap :: Heavyweights cap gains; HUL, RIL, ICICI Bank, Titan in red