Business Standard

Tuesday, December 24, 2024 | 06:25 PM ISTEN Hindi

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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.

Image SI Reporter New Delhi
sensex, BSE

Photo: Bloomberg

11:56 AM

Vedanta cuts net debt by $2 billion in FY23 as funding woes linger

Billionaire Anil Agarwal‘s commodities giant has slashed net debt by $2 billion in the current financial year as it seeks to soothe investor concern over its liquidity and ability to repay upcoming obligations. READ
Anil Agarwal, Vedanta
11:45 AM

Nestle's Q4 revenues may rise up to 17% YoY, agri-inflation to dent margins

FMCG major Nestle India is likely to register up to 17.5 per cent year-on-year (YoY) revenue growth to Rs 4,394 crore in the fourth quarter of CY22 (Q4CY22), expect analysts. In the year-ago period, the coffee and tea manufacturing company's revenues stood at Rs 3,706 crore. The company is scheduled to announce results on Thursday, February 16. READ
Photo: Reuters
11:34 AM

TVS Motor in talks with ADIA, Goldman, Carlyle for EV investment: Report

India's TVS Motor Co Ltd is in talks with Abu Dhabi Investment Authority (ADIA), Goldman Sachs Group Inc and Carlyle Group Inc for an investment in its electric vehicle (EV) arm, the Economic Times reported on Wednesday. READ
TVS
11:22 AM

Rupee depreciates 12 paise to 82.90 against US dollar in early trade

The rupee depreciated 12 paise to 82.90 against the US dollar in early trade, weighed down by a strong American currency after the US inflation data for January stoked worries Federal Reserve. READ
Indian rupee, rupee, rupee vs dollar
11:10 AM

Siemens gains 3%, hits record high on strong operational performance in Q1

Shares of Siemens hit a record high of Rs 3,219.90, up 3 per cent on the BSE in Wednesday's intra-day trade, after the company reported 80 per cent year-on-year (YoY) growth in consolidated profit after tax (PAT) at Rs 438 crore on a strong operational performance. The company follows October-September accounting year. READ
The logo of German industrial group Siemens is seen in Zurich, Switzerland
 
11:01 AM

WATCH: Is the time ripe to bet on new-age tech stocks?

10:50 AM

Q&A::Mutual fund ownership of Adani group stocks is not very high: Equirus

Primary markets will take few months to recover, says Ashutosh Tiwari of Equirus. Investors, he said, are now only interested in businesses which have better historical growth and cash flow profile. READ
Ashutosh Tiwari, managing director – research at Equirus
10:39 AM

Bharat Forge dips 7% on weak performance of overseas subsidiaries in Q3

Shares of Bharat Forge dipped 7 per cent to Rs 811.80 on the BSE in Wednesday’s intra-day trade as the company’s overseas operations posted an EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of Rs 62 crore in the December quarter (Q3FY23) due to ramp up related issues of the new Al forgings capacities in Germany and the US. READ
Bharat Forge acquires US-based Walker Forge Tennessee for $14 mn
10:30 AM

Bias for MCX Crude Oil turns marginally positive, can rally up to Rs 7,600

The MCX Crude Oil futures were seen trading closer to the higher-end of the anticipated trading band. In case, Crude Oil futures are able to conquer the near term resistances, a smart rally to Rs 7,400 or higher to Rs 7,600 seems possible. READ
oil prices
10:21 AM

Oil falls in early trade after data points to jump in US crude stocks

Oil prices slipped in early Asian trade on Wednesday after falling by more than $1 a barrel in the previous session as industry data pointed to a much bigger-than-expected surge in U.S. crude inventories. READ
Russian Oil, crude oil, oil, oil prices
10:12 AM

Torrent Power soars 9% post Q3 results; announces special dividend

Shares of Torrent Power surged 9 per cent to Rs 499 on the BSE in Wednesday’s intra-day trade after the company reported strong earnings for the December quarter (Q3FY23), with consolidated net profit up 88 per cent year-on-year (YoY) at Rs 695 crore on account of higher income. READ
Torrent Power: Long-term triggers in place
10:05 AM

Aditya Birla Group looking to raise funds for Vi at promoter level: Report

Aditya Birla Group is in discussions with banks to raise funds at a promoter level for an equity infusion into Vodafone Idea (Vi), a report in the Economic Times (ET) said. The group is reportedly looking to raise long-term debt and use preferential share allotment as its route. READ
Vodafone Idea
9:56 AM

MARKET COMMENT: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The much awaited US CPI inflation for January has come at 6.4% YoY but is up by 0.5% MoM. The takeaway from this data is that while the disinflationary process is on track, it is very slow. This means the Fed might hike rates again and the rates might remain higher for a longer period of time. That’s why US bond yields rose yesterday. A positive trend in India is that FIIs have turned buyers and this is good news for the bulls. But the rally is unlikely to sustain since there are no major triggers to take the Nifty beyond 18200. Since the major drag of sustained FII selling appears out of the way, sharp correction in the market is unlikely. High quality banking stocks have more room to go higher and IT, select autos and capital goods too look strong.

9:51 AM

Torrent Power soars 9% after strong Q3FY23 results

The company reported 88 per cent YoY growth in its consolidated net profit at Rs 694.54 crore in Q3FY23, on the back of higher income.
9:38 AM

MARKET CHECK :: Benchmarks at day's low

Sensex: 60,759.26 level | down 273 points | 0.45 per cent

Nifty50: 17,859.85 level | down 70 points | 0.39 per cent

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First Published: Feb 15 2023 | 8:09 AM IST