Sensex snaps 7-day winning run, falls 288 pts; RIL slips 1.5%, Nestle 3%

CLOSING BELL: The top drags were Nestle, Bajaj Finserv, HUL, Kotak Bank, RIL, HDFC, Bajaj Finance, Asian Paints, and IndusInd Bank as they fell in the range of 1 per cent to 3 per cent

3:16 PM

Crypto Exchange FTX to provide $6 million phishing compensation to users

Digital-asset exchange FTX will provide about $6 million compensation to its account holders impacted by a phishing incident via a third-party website. READ MORE

3:08 PM

Laurus Labs hits 4-month low; stock slips 14% in 3 days post mixed Q2FY23

Shares of Laurus Labs declined 6 per cent to hit four-month low of Rs 450 apiece in Tuesday’s intra-day trade, on the back of heavy volumes. The stock traded at its lowest level since June 23, 2022. READ MORE

2:59 PM

Rishi Sunak's wife earned Rs 126.61 cr dividend income from Infosys in 2022

Akshata Murty, Britain's incoming PM Rishi Sunak's wife whose tax status on income from outside the UK had triggered a controversy, earned Rs 126.61 cr in dividend income in 2022 from her Infosys. READ MORE

2:50 PM

BSE 500:: Top monthly losers so far

PB Fintech has plunged over 22 per cent and was the biggest loser among the BSE 500 in the last one month. Similarly, Samvardhana Motherson, Welspun Corp, Tata Elxsi and Varroc Engineering were the other significant losers.

2:41 PM

BSE 500:: Top monthly gainers so far

Mazagon Dock has zoomed nearly 41 per cent and was the top gainer in the last one month among the BSE 500 stocks. Similarly, Triveni Turbine, Rites, Godfrey Phillips and Cochin Shipyard were the other major gainers, up over 25 per cent each.

2:29 PM

Oil price rises as US dollar loses steam though demand fears linger

Oil prices rose as the US dollar eased against major peers but gains were limited by worries of slowing global fuel demand growth amid bearish economic data from key oil importing economies. READ MORE

2:19 PM

Prabhudas Lilladher on Torrent Pharma Q2 performance

Torrent Pharma's (TRP) has Rs 70 billion (75 per cent of total sales; including Curatio) worth of highly profitable branded formulation sales spread across India, Brazil and RoW markets. In the near term, Curatio acquisition will increase TRP's net debt and we see this acquisition as EPS dilutive. Historically TRP have managed to integrate successfully Unichem and Elder acquisition which gives us comfort. We expect 18 per cent EBITDA and 19 per cent EPS CAGR over FY22-25E. We maintain our estimates and 'BUY' rating with Target Price of Rs 1,850/share, 17x EV/EBITDA to Sept 2024E. 

2:10 PM

35% of Nifty smallcaps rally up to 150% in Samvat 2078: Will they keep up?

If the Nifty small-cap index manages to leap over the 200-day moving average (DMA), this would trigger a positive sentiment in most of the small-cap stocks. READ MORE

2:01 PM

BSE launches Electronic Gold Receipts for efficient price discovery of gold

Leading stock exchange BSE has launched Electronic Gold Receipt (EGR) on its platform, a move that will help in efficient and transparent price discovery of the yellow metal. READ MORE

1:52 PM

Prabhudas Lilladher maintains 'Buy' on RIL, lowers target to Rs 2,892

Domestic brokerage firm Prabhudas Lilladher too has lowered its earnings outlook on RIL, and even lowered the target price to Rs 2,892. "We cut FY23E earnings by 3.7 per cent to factor in 1) lower GRMs of USD13/11/bbl (USD15/13/bbl for FY23/24E earlier) due to higher than expected impact of windfall taxes 2) higher finance costs and 3) higher expenses but increase FY24 gas realization to $11/mmbtu ($10 earlier).  Q2 Oil to chemicals (O2C) segment was hit by higher than expected hit from windfall taxes (~$4.2 vs $1.8/bbl expectation) and weak polymer margins (down 12-26 per cent QoQ), said in its results update. READ MORE

1:45 PM

This film production & distribution company stock has zoomed 108% in 8 days

Shares of Tips Films were locked in 10 per cent upper circuit at Rs 630 in Tuesday's intra-day trade, in an otherwise weak market. In comparison, the S&P BSE Sensex was down 0.37 per cent at 59,607 points. READ MORE

1:38 PM

BSE 500:: Top losers so far

Laurus Labs down nearly 5 per cent was the top loser among the BSE 500 stocks so far on Tuesday. Suzlon Energy, Schaeffler India, Kajaria Ceramics and Tanla Platforms were the other significant losers.

1:29 PM

Market Check:: Sensex in red after a positive start, down nearly 200 points

1:22 PM

Global Check:: Asian markets exhibit a mixed trend

Source: Yahoo Finance

1:13 PM

Japan govt retains economic view for 4th straight month as demand rises

The Japanese economy is recovering moderately, the government said in a report on Tuesday, retaining the view for the fourth successive month, owing to demand bouncing back as the downside effects of the Covid-19 pandemic wane. READ MORE