Sensex jumps 243 pts on late buying, Nifty reclaims 18,000; RIL gains 2%

CLOSING BELL: The BSE Sensex gained more than 600 points from the day's low; Tech Mahindra, Bharti Airtel and auto shares were the other major gainers on Wednesday.

2:21 PM

Maruti Suzuki ties up with SMAS Auto to boost vehicles subscription

Maruti Suzuki India on Wednesday said it has partnered with SMAS Auto Leasing India Pvt Ltd to enhance its vehicles subscription programme. READ MORE

2:13 PM

Supply chains back to pre-Covid levels for consumer durable firms

Automotive and consumer durables companies, which depend on China for components, have seen supply chain constraints ease after China ended its zero-Covid policy. READ MORE

2:05 PM

BSE 500:: TCNS Clothing, CG Power, Ulfex among top losers

TCNS Clothing down over 5.5 per cent was the top loser among the BSE 500 stocks. CG Power & Industrial Solutions, RHI Magnesita, Uflex and Adani Transmission, down around 5 per cent each were the other major losers so far on Wednesday.

1:56 PM

Global Check:: Select Asian markets decline up to 1.5%

Source: Yahoo Finance

1:47 PM

Adani rout creates a dent in Quant MF portfolios as key holdings shed 24%

Quant Mutual Fund's holdings in Adani group stocks remained mostly unchanged even as the crisis broke late last month. READ MORE

1:38 PM

NSE inks Data Licensing Agreement with CME Group for Crude Oil and Natural Gas contracts

The National Stock Exchange (NSE) has signed a data licensing agreement with CME Group, the world's leading derivatives marketplace, allowing NSE to list, trade and settle rupee denominated NYMEX WTI Crude Oil and Natural Gas (Henry Hub) derivatives contracts for Indian market participants. 

1:30 PM

BSE 500:: Torrent Power, Tejas Network, GIC India among top gainers

Torrent Power up nearly 10 per cent was the top gainer among the BSE 500 stocks so far on Wednesday. It was followed by Tejas Network, General Insurance Corporation of India, Finolex Cables and Borosil Renewables, 5 - 9 per cent each.

1:21 PM

India a bright spot for investments despite current volatility: Blackstone

Despite the recent turmoil in the Indian markets after a scathing report on the Adani group from Hindenburg Research, American private equity major Blackstone is “bullish” on the India growth story and plans to invest more in the country’s infrastructure and real estate projects. READ MORE

1:11 PM

SBI raises MCLR by 10 bps; increases deposit rates in some buckets

State Bank of India (SBI) has raised its marginal cost of funds-based lending rate (MCLR) by 10 basis points (bps), effective February 15. READ MORE

1:02 PM

Finolex Cables hits over 4-yr high; stock up 15% in a week post strong Q3

Shares of Finolex Cables rallied 6 per cent to hit over four-year high of Rs 632.9 in Wednesday’s intra-day trade. With this spike, the stock has climbed 12 per cent in the past two days. It traded at its highest level since June 2018 and had hit a record high level of Rs 750 on January 19, 2018. READ MORE

12:48 PM

BEL, GSL ink pact to address global market opportunities in Naval platforms

Navratna Defence PSU Bharat Electronics Ltd (BEL) has signed an MoU with Goa Shipyard Limited (GSL) for co-operation in addressing global market opportunities for supply of state-of-the-art products such as autonomous boats, and other systems / solutions based on Artificial Intelligence for Naval platforms. READ

12:38 PM

Govt to try merging BSNL & MTNL again, appoints Deloitte as advisor: Report

The government seeks merging state-owned Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL), trying that again after unsuccessful attempts in 15 years. READ

12:27 PM

Eicher Motors rallies 5% on better than expected Q3 earnings

Shares of Eicher Motors, the maker of Royal Enfield motorcycles, rallied 5 per cent to Rs 3,340 on the BSE in Wednesday’s intra-day trade in an otherwise subdued market after the company posted a better-than-expected 62 per cent year-on-year (YoY) jump in net profit at Rs 741 crore, on back of higher motorcycle sales and other income. READ

12:16 PM

Aero India Show: Defence stocks a good long-term bet, say analysts

In the near-term, analysts believe a drop in the defence budget for financial year 2023-24, coupled with premium valuations of related stocks, could weigh on the sentiment. READ

12:07 PM

DLF, Sunteck Realty: Stay cautious; realty index violates key support level

Despite negating previous support range of 409 to 406, the Nifty realty index was receiving accumulation close to 400 levels in the recent sessions. But, on Tuesday, the index slipped under 400 even when benchmark indices, BSE Sensex and Nifty 50 gained close to a per cent. Regrettably, there is now no major support except the last reversal mark which registered a new 52-week low at 365.75. READ