Sensex, Nifty end flat ahead of inflation data; HDFC duo, RIL lend support

CLOSING BELL: The benchmark indices sought support from financial and metal stocks with their respective indices climbing 0.2 per cent & 0.4 per cent. On the downside, the IT index fell 0.4 per cent.

12:59 PM

BSE 500:: IRFC, Jindal Stainless, Yes Bank among top gainers

IRFC up over 7 per cent was the top gainer among the BSE 500 stocks so far on Monday. It was followed by Jindal Stainless, Yes Bank, Jindal Stainless Hisar and Suzlon Energy, up around 6 per cent each.

12:49 PM

Paytm lending biz at annualised run rate of $4.8 bn, disburses 6.8 mn loans

 As the Indian digital payments and financial services leader Paytm continues to show strong growth, the company on Monday shared an exchange filing about its operating metrics for October and November. Read more

12:40 PM

IHC, Mahindra Holidays: Time to check-in hotel stocks this holiday season?

 With no Covid-19 related restrictions in place this year, hotel stocks are expected to gather steam during the upcoming holiday season. Stocks like Kamat Hotels, Taj GVK Hotels, Speciality Restaurants, and Oriental Hotels gained between 1 per cent and 5 per cent in the intra-day trade on Monday even as benchmark indices remained muted. Read more

12:26 PM

OPINION | Controlling high food inflation: The world is on a wing and a prayer

 An IMF paper sheds light on the issue of persistently high global food inflation, and the prognosis is not comforting . Read here

12:15 PM

Bharat Forge gains 2% on healthy medium term growth prospects

Shares of Bharat Forge were up 2 per cent to Rs 872.50 apiece in Monday’s intra-day trade, in an otherwise range-bound market. The spike comes after the management re-iterated healthy medium term revenue prospects, supported by growth in defense, aerospace, e-mobility, and aluminum segments. Read more

12:03 PM

Three IPOs to hit primary market this week to raise Rs 1,858 crore

In 2022 so far, as many as 33 companies have come out with their IPOs to mop up over Rs 55,000 crore. In 2021, 63 IPOs raised more than Rs 1.19 lakh crore, as per the data. READ MORE

11:47 AM

Budget 2023-24: Centre mulls increasing tax-free slab to Rs 5 lakh

Policymakers are examining the possibility of increasing the tax-free slab to Rs 5 lakh in the two-year-old alternative personal income tax regime to make it attractive, a government official said. READ MORE

11:36 AM

YES Bank up 19% in 2 days on RBI nod to proceed with Carlyle, Verventa deal

On Friday, the Reserve Bank of India (RBI) issued two letters to YES Bank as the final go-ahead for its proposed capital raise plan from the Carlyle Group and Verventa Holdings.

 

“We wish to hereby inform that the bank is now in receipt of two further letters (separate to each investor) from the RBI in relation to the proposed investment,” the bank said in a filing. READ MORE

11:23 AM

Direct tax collection up 24% to Rs 8.77 trn; nears 62% of Budget estimates

The Budget estimated direct tax collection at Rs 14.20 lakh crore this fiscal, higher than Rs 14.10 lakh crore collected last fiscal (2021-22). Tax on corporate and individual income makes up for direct taxes. READ MORE

11:12 AM

Recovery in pipeline for pipe makers with price correction down the tubes

In addition to an uptick in margins, lower prices are expected to give a fillip to volumes of two key segments critical to the sector’s growth — construction/housing and agriculture. READ MORE

11:03 AM

SIP closure ratio surges to 51% in 2022 from 41% in 2021: Amfi data

In 2022, the growth in discontinuation of systematic investment plans (SIPs) outpaced SIP account registrations. READ MORE

10:51 AM

Buybacks jump 2.6 times this year as stocks take a tumble, shows data

One97 Communications, the parent of Paytm, will soon join over 50 other listed companies to announce a stock repurchase programme in 2022. A sharp fall in stock prices over their 2021 highs has prompted many companies to launch buybacks. READ MORE

10:40 AM

Uniparts India makes weak debut; sheds 7% against issue price post listing

Uniparts India is a global manufacturer of engineered systems and solutions for precision products for off-highway vehicles in the agriculture and construction, forestry and mining sectors with a presence in over 25 countries. It has 5 manufacturing units in India and 1 in the US. The company is a concept-to-supply player for precision products for off-highway vehicles (OHVs), with presence across the value chain. READ MORE

10:33 AM

Sula Vineyards: Should you subscribe to India's largest wine seller's IPO?

Sharekhan | Scope for strong listing gains limited

 

The stock is at discount to the large peers, which could be justified due to high concentration of buyers and risks as state government’s VAT grants contribute to a large part of its profitability. Consequently, the scope for handsome listing gains is limited as of now. But, investors could look at the stock in case of weakness post its listing. READ MORE

10:23 AM

VA Tech Wabag surges 12%, hits 52-week high on order win worth Rs 260 crore

The company said the contract will be an engineering & procurement (EP) scope contract which includes design & engineering, equipment supply, installation, commissioning and start-up of the Purolite Victoria WWTP. The project is scheduled to be executed over a 24-month period. READ MORE