Business Standard

Banks, RIL drag Sensex 311 pts down, Nifty below 17,850; Adani Ent falls 6%

CLOSING BELL: Maruti Suzuki, Kotak Bank, SBI, HDFC, Axis Bank, Titan, Bajaj Finance, HDFC Bank, ICICI Bank, Nestle India, and RIL were the top Sensex laggards, falling in the range of 1 - 1.4 per cent

Image SI Reporter New Delhi
MARKET LIVE: Sensex near day's low, down 300 pts; Nifty below 17,850

11:14 AM

NMDC's demerged Chhattisgarh unit hits 5% upper circuit on market debut

A combined, around 7.5 million equity shares had changed hands and there were pending buy orders for 19 million shares on the NSE and BSE till 10:16 AM. READ
steel company, steel firms, ArcelorMittal, JSW Steel
11:03 AM

Samvardhana Motherson soars 6% on German-based SAS Autosystemtechnik buyout

The acquisition made through Samvardhana Motherson Automotive Systems Group B.V., Netherlands, a step-down subsidiary of SAMIL. SAS is a leading global provider of assembly and logistics services for the automotive industry. SAS had revenue of € 896 million (i.e. ~Rs 7,950 crore) with EBITDA at €102.7 million (i.e. ~Rs 910 crore, margins at 11.5 per cent) in CY22. READ MORE

10:53 AM

Sebi aims to prune costs further for MF investors, may bring GST under TER

The Securities and Exchange Board of India (Sebi) is aiming to further reduce the cost of investing in mutual fund (MF) schemes. GST, transaction charges could be made part of total expense ratio READ MORE

10:43 AM

ALERT :: Bharat Dynamics wins order worth $255 million

10:38 AM

ArcelorMittal, JSW in NMDC steel plant race; JSPL also in the fray

The steel company will be listed separately on Monday and the government plans to privatise it in the current fiscal year. READ MORE

10:29 AM

Key support for MCX Gold stands at Rs 55,900

The MCX Gold and Silver futures are seen testing support at the key moving averages on the daily and weekly scale. The immediate support level for MCX Gold April futures stand at Rs 55,930, which is the 50-DMA; Similarly, Silver futures is testing support at its 100-DMA placed at Rs 64,400. READ MORE

10:19 AM

NSE to include Adani Wilmar, Adani Power in few indices from March 31

Earlier last week, index provider MSCI Inc postponed the implementation of reducing the weightages of two Adani group firms, Adani Total Gas and Adani Transmission, in its indices, citing potential impact from price limit mechanisms.
 
The decision on the changes in the weightages, which was to be effective this month, has now been postponed to May. READ MORE

10:07 AM

Promoter share pledge rises to 1.61% in October-December quarter

Promoters in 87 companies in the BSE 500 Index had at least some portion of their holdings pledged at the end of Q3FY23. Of this, only 17 had more than 25 per cent of their promoter holdings pledged READ MORE

9:58 AM

Cipla dips 7% after Pithampur unit receives 8 USFDA observations

USFDA conducted a current Good Manufacturing Practices (cGMP) inspection at the company’s Pithampur manufacturing facility from 6th - 17th February, 2023, Cipla said in an exchange filing.
 
On conclusion of the inspection, the company has received 8 inspectional observations in Form 483. The company will work closely with the USFDA and is committed to address these comprehensively within stipulated time, Cipla said. READ MORE

9:48 AM

Comment :: 'Negative impact of Adani issue appears to be behind us'

There is a growing concern that the equity markets are ignoring the risk of high inflation which is declining only very slowly. Comments from some Fed officials that they might have to remain hawkish for an extended period of time and might support even a 50 bp rate hike in the March Fed meet are negative for equity markets.

In India, it appears that the period of sustained selling by FIIs is over and they have started buying on some days. The negative sentimental impact of the Adani issue appears to be behind us. The likely hawkish stance from the Fed will restrain the rally in the US market and this will also keep the Indian market in a range, attracting selling at higher levels and buying at lower levels.

Valuations of the leading banking names, large-cap IT and capital goods companies are reasonable now and may be accumulated on declines.

Views by: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
9:39 AM

Adani stocks largely weak even as Group formulates comeback strategy

The ports-to-power conglomerate helmed by Adani — who used to be Asia’s richest person — is hoping to claw back the narrative with this playbook and calm jittery investors and lenders after US-based Hindenburg Research on Jan. 24 accused it of accounting fraud, stock manipulation and other corporate governance lapses. The Adani Group denies these allegations. READ MORE


9:37 AM

Pennar Industries up 2.5% on new orders

The company bagged orders worth Rs 851 crore across its various business verticals.

9:36 AM

RITES holds gains in a volatile market on new orders

The company has won a new order worth Rs 76.08 crore.

9:34 AM

Dilip Buildcon wins order worth Rs 1,947 cr; stock up 1%

The company has bagged an order worth Rs 1,947 crore.

9:32 AM

Sun Pharma to acquire up to 26% stake in Agatsa Software

The drugmaker will acquire up to 26 per cent stake in Agatsa Software for Rs 30 crore in two tranches. Agatsa is an early-stage digital diagnostic devices company. Sun Pharma will also acquire up to 27.39 per cent stake in Remidio Innovative Solutions, which provides products for early detection of eye diseases, for Rs 149.9 crore.

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First Published: Feb 20 2023 | 9:32 AM IST