Sensex up 92 points, Nifty holds 18,250; Financials soar, Adani Ent dips 3%

CLOSING BELL: SBI, Bajaj Finance gain, while Adani Enterprises slips in trade on Wednesday. Debutant Inox Green Energy ends at 9 per cent discount to its issue price.

3:13 PM

RHI Magnesita extends rally, zooms 36% in one week; stock hits record high

Shares of RHI Magnesita India hit a record high of Rs 835.40 on the BSE on Wednesday after they surged 19 per cent in the intra-day trade, zooming 29 per cent in three days, after the company announced acquisition of the Indian refractory business of Dalmia Bharat Refractories Limited (DBRL) for Rs 1,708 crore. READ MORE

3:06 PM

Adani FPO could be India's largest-ever; board to approve proposal on Fri

Adani Enterprises, the flagship firm of India’s most valuable conglomerate, is planning to launch a follow-on public offering (FPO) to raise Rs 20,000 crore in fresh capital. The board of Gautam Adani's firm will meet on Friday to approve the proposal. If Adani Enterprises indeed decides to launch a Rs 20,000-crore FPO, it will be the country’s biggest-ever. READ MORE

2:56 PM

RMC Switchgears wins 14.25 cr order; stock up 2%

RMC Switchgears informed BSE that the company has secured a Rs 14.25 crore order from the government of Andhra Pradesh.

2:48 PM

Credit Suisse expects pre-tax loss of up to 1.5 billion Sfr in Q4

The profit warning is a blow for the bank which had previously said it expected to make a net loss during the last three months of the year but did not give a figure. READ MORE

2:41 PM

ALERT :: Goldman Sachs sees Nifty at 20,500 by December 2023

2:39 PM

Market Check:: Nifty Smallcap 100 outperforms, up 0.6%; NBCC zooms 9.8%

2:30 PM

Aurobindo unit, Evive Biotech ink pact to sell CIN treatment product in US

Aurobindo Pharma on Wednesday said its unit has entered into a licensing pact with Evive Biotech to commercialise Ryzneuta in the US market. READ MORE

2:20 PM

Stock of this beaten down fintech company has zoomed 20% on heavy volumes

Shares of Fino Payments Bank locked in 20 per cent upper circuit at Rs 230.70 per share in Wednesday's trade amid heavy volumes. The average trading volumes on the counter jumped over three-fold as around 4.73 million shares changed hands on the NSE and BSE. READ MORE

2:10 PM

BSE 500:: Top losers so far

Hindustan Zinc down 6 per cent was the top loser among the BSE 500 stocks so far. Delhivery, UCO Bank, DCM Shriram and Paytm were the other prominent losers, down 3 - 4 per cent each.

2:00 PM

BSE 500:: Top gainers so far

RHI Magnesita up nearly 13 per cent was the top gainer among the BSE 500 stocks so far on Wednesday. It was followed by RCG, Edelweiss Financial, NBCC and TCNS Clothing, up 7 - 12 per cent each.

1:52 PM

ALERT :: Renault Group-KPIT partner for next generation Software-Defined Vehicle program

>> KPIT, a global leader in automotive and mobility software, will bring its expertise to Renault Group in creating a world-class technology solution for the next decade.

>> KPIT software scope in the SDV programs will encompass contributions for ADAS, Chassis, Body Electronics, Platforms, Systems Engineering, and Vehicle validation.

>> KPIT will globally deploy 600+ engineers, multiple software IPs, and platforms to bring scale and success to this partnership.
 

1:46 PM

Global Check:: Asian Markets hold steady gains, up around 0.5% each

Source: Yahoo Finance

1:36 PM

MF corner :: Lumpsum flows into MF equity schemes lowest since Nov 2020

>> According to the Latest Mutual Fund Report by Motilal Oswal Financial Services Ltd., the lump sum gross inflows into the Equity segment, excluding NFOs, stood at Rs 17,900 crore in Oct’22 – the lowest since Nov’20.

>> MOFSL checks indicates that the slowdown has been on account of: a) large HNIs waiting for a better entry point as the equity market is close to a new high, 2) weakness in flows from lower-end customers in rural areas, and 3) reduced NFO activity by large AMCs in the Equity segment.
 

1:26 PM

Adani Enterprises falls 3% as board to mull fund-raise on November 25

According to a Bloomberg report, the share sale could raise as much as $2.4 billion for the company. The issuance will test investor appetite for a stock that has had outsized gains, compounded by lower liquidity relative to peers and sparse analyst coverage. The conglomerate has previously attributed the small free float to the Adani family holding about 75 per cent of Adani Enterprises, and earlier this year said it is working on plans to increase the free float. READ MORE

1:16 PM

ALERT :: Precision Wires fixes December 22 as record date for bonus issue

>> December 22, 2022, has been fixed as the Record Date, for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus Equity Shares of the Company in the proportion of 1 new fully paid up equity shares for every 2 fully paid up existing equity share held.