Sensex, Nifty end flat post lackluster trade; Syrma soars 42%, Titan 3%

CLOSING BELL: It was a range-bound trade on the bourses on Friday as investors awaited US Fed chief Jerome Powell's address at the Jackson Hole Symposium later tonight

3:24 PM

Delhivery off day's high, up 1%; Company plans to hire over 75,000 employees soon

Logistics firm Delhivery announced its plans to hire over 75,000 staff for seasonal jobs over the next one-and-a-half month and expand its parcel sortation capacity by 1.5 million shipments per day. READ MORE

3:18 PM

Crypto wrap: Expect high volatility as inflation still a worry, say experts

Volatility in the crypto market comes at a time when the share markets too were showing high volatility, globally. READ MORE

3:12 PM

Sebi comes out with disclosure requirement for asset management companies

Capital markets regulator Sebi on Thursday came out with the disclosure framework for asset management companies, mandating a scheme-wise disclosure of investments in securities of entities. READ MORE

3:05 PM

Global Check:: US, UK stock futures marginally in red

Source: Investing.com

2:57 PM

GIC Housing Finance to raise up to Rs 2,500 crore via issue of bonds

The housing financier will seek approval from its shareholders on the capital raise plan in the upcoming annual general meeting on September 23, 2022. READ MORE

 

2:52 PM

JM Financial initiates 'buy' on Poonawalla Fincorp; stock soars 7%

<< Price target: Rs 400 a share

 

<< Poonawalla Fincorp has undergone a metamorphosis of sorts after significant capital infusion by the Poonawalla group (~62% stake) in early-CY21.

<< The backing of a respected, non-levered promoter group has enabled the company to reduce its cost of borrowings significantly.

<< All this, with clear visibility of a strong Risk-adjusted return on capital. Expect the NBFC to enter a strong acceleration phase of customer acquisition and offer digital-first products.

<< Estimate an AUM-CAGR of 36% over FY22-25E with a mix of 60:40 between secured:unsecured loans over this period.

<< Asset quality is likely to remain strong given the focus on credit-tested customers, past experience of digital lending, and sharp focus on risk.

<< Expect expansion ahead as operating leverage kicks in to drive RoA of 3.4% (RoE of 15.4%) in FY25E.

<< With its strong growth runway and strong liabilities advantage, PFL will trade at premium valuations. Value the stock at 4x Sep’24E P/BV

By JM Financial

2:47 PM

ALERT :: Government likely to curb some rice exports in risk to global supply

Source: Agencies

2:44 PM

Stock of this EPC and solar advisory firm has zoomed 1,475% so far in 2022

In the past one month, Gensol Engineering  nearly doubled, or surged 96 per cent, as compared to 7 per cent rise in the S&P BSE Sensex. READ MORE

2:41 PM

ALERT :: Energy costs are set to rise 80% in the UK

2:35 PM

I-T dept going into new areas to check tax evasion: CBDT chairman

Income-Tax department is going into "new areas" of the economy to check tax evasion even as its investigation units are using analytics to sift through voluminous data on Indians holding assets abroad. READ MORE

2:25 PM

Rupee to remain under pressure despite RBI support, says Societe Generale

Rupee is likely to struggle against the dollar as slowing global growth and the Federal Reserve's interest rate stance overshadows RBI's intervention, suggested Societe General. READ MORE

2:15 PM

BSE 500:: Top losers so far

RBL Bank shed 6 per cent and was the top loser among the BSE 500 stocks so far on Friday. It was followed by Tata Tele, Adani Power, APL Apollo Tubes and Narayana Hrudayala, down around 4 per cent each.

2:05 PM

Bata India expands footprint but performs below expectations in Q1

The April-June quarter (first quarter, or Q1) of 2022-23 (FY23) performance of footwear major Bata India was below expectations. READ MORE

 

1:55 PM

Asian Markets Update:: Hang Seng gains 1%; Nikkei, Taiwan add 0.5%

Source: Yahoo Finance

1:46 PM

BSE 500:: Top gainers so far

Mazagon Dock has zoomed 14 per cent in trades so far and was the top gainer among the BSE 500 stocks. New India Assurance, IDBI Bank, Chambal Fertilisers and KIOCL were some of the other significant gainers on Friday.