Banks, IT lift Sensex 355 pts higher, Nifty atop 17,100; auto, pharma dip

CLOSING BELL: IT major TCS ended marginally in red amid high volatility a day after Gopinathan's resignation. In the broader markets, realty stocks also ended with solid gains.

11:18 AM

Nifty Realty gains over 2%, led by DLF, Phoenix

11:09 AM

Rupee appreciates 25 paise to 82.51 against US dollar in early trade

The rupee reversed its four-day losing streak and rose 25 paise to 82.51 against the US dollar in early trade on Friday amid positive trends in the domestic as well as global equity markets. READ MORE

10:59 AM

Eris down 4% in 2 days post acquisition of 9 derma brands from Dr Reddy's

Eris Life said that the transaction would help augment and expand cosmetic dermatology business of the company through their product offerings. READ MORE

10:48 AM

Q&A: : Indian markets may underperform in 2023; buy the dips, says CJ George

Fears of a systemic crisis, after a series of bank collapses in the US, and Europe dampened equity investment sentiment over the past week. The pain emanated due to high interest rates in the US. Against this backdrop, CJ GEORGE, managing director and chief executive officer at Geojit Financial Services says that India may underperform global peers due to premium valuation in 2023. READ

10:38 AM

Nifty Media slips over 1%, losses led by Zee Ent, Network18

10:29 AM

Va Tech Wabag surges 2% after it secures Rs 800 crore order

10:23 AM

Gold price rises Rs 550 to Rs 57,860; silver up by Rs 200 at Rs 69,200

The price of ten grams of 22 carat gold rose by Rs 500 to Rs 53,550. READ MORE

10:15 AM

Sterling Tools hits 5-year high, surges 10% on strong business outlook

EV penetration in 2W and 3W is expected to increase at a fast rate over the next few years which augurs well for the company's growth. READ MORE

10:07 AM

Comment :: 'Recent market correction has also made valuations reasonable'

There are indications of the storm in the global banking sector blowing over. The authorities including the US treasury, the Fed, the Federal Deposit Insurance Corporation, and the Swiss central bank have acted timely and decisively to contain the crisis and calm the markets. This should infuse confidence in investors.

Meanwhile, the sharp correction in crude and the declining trade deficit have improved India’s macros significantly. Declining fiscal and current account deficits along with a healthy banking system and deleverage corporate sector can deliver good growth and corporate earnings in FY24. The recent market correction has also made valuations reasonable. This is positive news from the market perspective.

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

 

9:58 AM

Eris Lifesciences down 1.7% on inking deal with Dr.Reddy's

Eris Lifesciences has signed a deal with Dr Reddy's to buy certain non-core brands of the latter company in the dermatology segment for Rs 275 crore. The divested portfolio saw sales of Rs 60 crore, as of IQVIA moving annual turnover (MAT) data December 2022.

9:54 AM

Patanjali Foods extends fall, down over 2% amid freeze promoter holding

The company said that the move would not impact company's operation, and they plan to start the process of launching follow-on-public offering in April to increase public shareholding to 25 per cent.

9:51 AM

Glenmark Pharma holds marginal gain on getting USFDA nod for trails in advanced cancer treatment

The pharma major received US health regulator's approval to proceed with phase 1/2, first-in-human trial for investigational new drug aimed for treatment of patients with advanced cancers.

 

9:47 AM

TCS down 1%, hits 4-month low day after CEO & MD Rajesh Gopinathan resigned

The board has nominated K Krithivasan as CEO designate with effect from March 16, 2023. READ MORE

9:22 AM

Broader market check :: SmallCap index outshines with 0.8% gain

9:21 AM

Sectoral trends :: All but Media index swim in green; Metal, PSB. Realty indices rally 1%