HDFC twins, HUL lift Sensex 237 pts; SmallCap index dips 3%; Metals plunge

CLOSING BELL: This was the first gain for benchmark indices in seven days

3:38 PM

Closing Bell: Sensex snaps 6-day losing run; gains 237 pts

3:24 PM

VIL board meeting on Jun 22 to consider Rs 500-cr fundraising from promoter

The fundraising will be through the issuance of equity shares or convertible warrants on a preferential basis to one or more entities belonging to Vodafone Group (one of the promoters of the company). Read more

3:15 PM

In 5 yrs, we'd like to be No. 1 in bancassurance: LIC chairperson MR Kumar

We firmly believe that once the market stabilises, our inherent strength and performance will be recognised. Read more

 

3:06 PM

Centre gets multiple bids for privatisation of Ferro Scrap Nigam Ltd

The privatisation of the government-owned entity involves the transfer of management control in the public sector undertaking (PSU), which is a 100 per cent subsidiary of state-owned MSTC. Read here

2:59 PM

Metal stocks extend slide; Vedanta tanks over 14%

2:49 PM

SECTOR CHECK :: PSBs slide; Index down 3%, BoB, Canara Bank fall up to 5%

2:41 PM

MARKET CHECK :: Nifty SmallCap drops over 3%

2:30 PM

European markets move higher in early trade

source: finance.yahoo.com

2:20 PM

Expert view on steel amid slump in metal stocks

Domestic steel prices have crashed nearly 20 per cent recently from the peak following the excess supply in the market caused by the imposition of 15 percent export duty.

Unless this decision is reversed, steel exports are likely to take a hit of nearly 35 per cent. This will also severely impact the profitability of the steel sector and this is getting reflected in the prices of steel stocks which have taken a big hit.

The positive side is that steel consumers, notably in the automobile and construction sectors will gain from this steep decline in prices.

Views by VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Photo: Bloomberg

2:14 PM

Duty-related measures to cut India's steel exports by 40% in FY23: CRISIL

India's steel exports is expected to come down by 40% to 12 million tonnes (MT) in the ongoing fiscal, as a result of the duty-related measures taken by the government last month, according to CRISIL. READ HERE

2:04 PM

Finance Ministry Economic Report | Economy expected to see slowing growth

>> See upside risk to Budgeted Deficit level

>> Medium-term growth prospects are bright

>> Economic growth seen higher than other EMs

>> FY23 capex budget expected to underpin growth

1:54 PM

Sugar stocks slump on fears of extension of export curbs

Sugar stocks witnessed heavy selling across-the-board amid reports of a possibility of extension on the sugar export limitations into next year. Shree Renuka Sugar, Dwarikesh Sugar and Bajaj Hindusthan were the major losers, down up to 10.5 per cent.

1:47 PM

Fitch enhances ratings of 13 Indian firms to 'elevated downgrade risk'

Global rating agency Fitch on Monday moved 13 Indian companies from the category of entities carrying 'elevated downgrade risk' — becoming sub-investment grade entities — to those with 'moderate downgrade risk'. This follows the stabilisation of their outlooks and upgrading outlook on India’s sovereign rating to 'stable' from 'negative'. READ MORE

1:40 PM

1 in 3 Nifty500 stocks are down 25% YTD; 15 have halved their 2022 gains

A total of four stocks -- Dhani Services, Brightcom Group, Indiabulls Real Estate and Solara Active Pharma Sciences -- have been butchered more than 60 per cent. READ MORE

1:33 PM

Mining Stocks remain under pressure:: Vedanta, GMDC, NMDC major losers

Vedanta tanked over 14.5 per cent and was the top loser among the mining stocks on the BSE. NMDC and GMDC were down 5.5 per cent and 8.1 per cent, respectively.