Pvt banks, IT drag Sensex 230pts down, Nifty below 18,350; Paytm tanks 10%

CLOSING BELL: Among the Sensex 30 shares, Titan, M&M, Maruti, HDFC and Bajaj Finserv were the major per centage losers.

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WATCH | Q&A with Murali Ramakrishnan, MD & CEO, South Indian Bank

1:09 PM

WATCH | Tamal Bandyopadhyay on whether new rules can alter the landscape for ARCs

12:59 PM

Fairfax weighing Bangalore airport IPO at $3.7 billion value: Report

The Indian arm of Canadian investment group Fairfax Financial Holdings Ltd. is working with an adviser on the potential listing that could take place as soon as next year, the people said. Fairfax India holds a majority stake in the owner of Kempegowda International Airport, Bengaluru, located in the southern Indian city also known as Bangalore. READ MORE

12:49 PM

Tata Motors dips 3% as JLR CEO Thierry Bollore resigns w.e.f December 31

Bolloré had been with the company for just over two years, replacing long time serving CEO at JLR Sir Ralf Speth. He had come with experience in companies like Michelin, and Renault among others. READ MORE

12:36 PM

Paytm can slip below Rs 400 if Bears tighten grip; Delhivery may hit Rs 300

Earlier, the shares of One97 Communications had managed a decent pull back in May 2022, after registering the all-time low at Rs 510. The current weakness could see the stock test this reversal point. If it breaks the Rs 510 support, then bears have an upper hand to engulf this stock in a bearish uncharted territory. READ MORE

12:22 PM

RIL, Tata firms top LIC's equity portfolio as insurer's valuation rises

The market value of Life Insurance Corporation’s stake in India’s top conglomerates has witnessed a sharp rise in the past year, with Reliance Industries and Tata group companies topping the valuation charts, according to data sourced from the stock exchanges. READ MORE

12:10 PM

Warning signal for economy as headline inflation heads to high core

The rate of core price rise has been over five per cent for over two years now and remained over six per cent for five months till October in the current financial year.

 

Core inflation refers to the rate of price rise in non-food and non-fuel items. Food and fuel prices are considered volatile and hence core inflation represents the non-volatile nature of inflation. READ MORE

12:01 PM

Rating agencies raise red flag: QIP monitoring may hit disclosure wall

Credit rating agencies (CRAs) have flagged concern that the inadequate disclosures around the use of funds raised through preferential issues and qualified institutional placements (QIPs) may possibly impede the monitoring process, said people in the know. READ MORE

11:49 AM

Page Industries to invest Rs 290 cr to set up two facilities in Telangana

The Ibrahimpatnam facility will be a 1,50,000 sq ft Plug and Play facility built by Whitegold Spintex Park and leased to Page Industries. This facility will provide jobs to 3,000 local youngsters.

 

Page Industries will build their own facility at Mulugu in Siddipet district in a 25 acre parcel. This facility will provide employment to 4,000 local youngsters, the release said. READ MORE

11:37 AM

Timken India soars 10% on plans to set up Gujarat manufacturing facility

The company will set up new manufacturing facility at Bharuch, Gujarat to manufacture Spherical Roller Bearings (SRB), Cylindrical Roller Bearings (CRB), and other components. READ MORE

11:21 AM

Investor Lighthouse India Fund sold Nykaa shares worth Rs 525 cr: Report

30 million shares of FSN e-commerce Ventures, the parent company of the beauty products retailer Nykaa, were sold by the investor on November 10 as the lock-in period ended. READ MORE

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RateGain gains 1% after it inks pact with Booking.com for seamless content

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ECB warns of financial stability risks in euro area, warns of recession

Presenting the bank's financial stability review here on Wednesday, ECB Vice President Luis de Guindos said that "in our assessment, risks to financial stability have increased and a technical recession in the euro area has become more likely", reports Xinhua news agency. READ MORE

10:59 AM

Phaarmasia hits 5% upper circuit after it fixes Rs 25/share floor price for delisting

10:51 AM

R Systems zooms 20% on Blackstone's open offer to acquire majority stake

Blackstone has made an offer for acquiring up to 57.17 million equity shares, representing 48.33 per cent of R Systems equity, at Rs 245 apiece. READ MORE