Sensex gyrates 537 points, ends 152 pts down; Nifty PSU Bank index rises 4%

CLOSING BELL: The Nifty50, meanwhile, shut shop at 18,157, down 46 points or 0.25 per cent

Photo: Bloomberg

1:23 PM

Earnings cheer: Nifty PSU Bank soars 26% in 1 mth; BOI, Canara, UBI up 55%

State Bank of India (SBI), Central Bank of India, Bank of Baroda, Punjab National Bank, Indian Overseas Bank and Punjab & Sindh Bank from the index have surged in the range of 16 per cent to 25 per cent. Most of these stocks were trading at their 52-week highs on the NSE. READ MORE

1:13 PM

Nifty Bank index headed to 44,000 level; Bandhan Bank remains a risky bet

The “Golden Cross” breakout on the daily chart is one of the key reasons why the index looks strong on the charts. There is a negative divergence of the Relative Strength Index (RSI), which is a minor concern, the price action is strong enough and is not letting bears dominate the near-term outlook for this index. READ MORE

1:01 PM

IPO Update :: Five Star Business Finance's issue subscribed just 1% so far on day 1

12:51 PM

Forex cover for imports may fall to lowest this year under Modi govt

India saw accretion of $4.6 billion to the forex reserves on the balance of payments (BoP) basis in the first quarter of the current financial year. This happened as the current account deficit came to $23.9 billion or 2.8 per cent of the gross domestic product against expectations by analysts that it would cross three per cent. READ MORE

12:41 PM

ALERT :: Tips Industries announces buyback worth Rs 33 crore

>> Co to buyback shares at Rs 2,600 apiece

>> The public announcement setting out the record date, process, timelines and other requisite details will be released in due course in accordance with the Buyback Regulation

12:31 PM

Sept Quarter Result :: Venky's sheds 6% as co reports net loss vs profit YoY

>> Net loss at Rs 20.56 cr vs profit of Rs 30.7 cr YoY

>> Revenue down 3% YoY at Rs 959 cr

>> EBITDA loss at Rs 21.2 cr

12:21 PM

Hindalco drops 5% as arm Novelis Q2 profit slides 23% YoY; Ebitda down 8%

Novelis’ net sales rose 17 per cent to $4.8 billion for the quarter from a year ago primarily driven by a 2 per cent increase in total flat rolled product shipments, increased product pricing, favourable mix, and higher average aluminium prices, Hindalco said in a release. READ MORE

12:10 PM

MRF misses Sep-qtr profit estimates as input costs weigh

MRF Chairman K.M. Mammen had said in July that supply issues for raw materials, inflicted by Russia's invasion of Ukraine, and low demand due to soaring fuel costs played spoilsport for the company and the industry at large. READ MORE

11:59 AM

AMCs line up differentiated target maturity funds amid stiff competition

With target maturity funds becoming one of the top investment options in the fixed income space, asset management companies (AMCs) are coming out with differentiated target maturity funds to present a better risk-reward proposition, maximise yields, and also to make their product stand out in a sea of offerings. READ MORE

11:47 AM

Stock of this visa service provider has zoomed over 300% so far in 2022

BLS International is engaged in the business of providing outsourcing and administrative task of Visa, Passport and Consular services to various Diplomatic Missions across the world. The company also provides services related to attestation and apostille on behalf of Ministry of External Affairs, New Delhi (India). READ MORE

11:33 AM

NSE to move away from non-core business areas: New MD & CEO Chauhan

The bourse's new managing director and chief executive officer (MD & CEO), Ashishkumar Chauhan, said, "The non-core businesses contribute 6 per cent to our revenues and 1 per cent to profit. Given this context and acknowledging that there are significant opportunities for mainstay business to grow, it has been contemplated to move away from non-core business areas appropriately." READ MORE