Sensex dips 124 pts, smallcaps shine; Paytm cracks 9%, Tata Motors up 2%

CLOSING BELL: HCL Tech (down 2.7 per cent), Tata Steel, Reliance Industries, Wipro, ITC, ICICI Bank, Infosys, and HUL were top Sensex losers

12:15 PM

Special :: Four economic trends that will impact India

The Budget reflects the shift globally in government capital expenditure, inflation, fiscal deficit and globalisation READ MORE

12:04 PM

BREAKING :: Adani Group hires US-based legal firm Wachtell in Hindenburg case, reports FT

12:03 PM

M&M Finance, Blue Star: Trading strategies for 5 highly overbought stocks

Mahindra & Mahindra Financial Services, Sonata Software Limited, and Blue Star may rise up to 10 per cent in the overbought territory of RSI. READ

12:01 PM

ALERT :: GST Council to meet on February 18

>>  Agenda to be circulated soon

>> Fitment Committee to meet to decide on rate reduction on cement as announced by Finance Minister, says CBIC Chairman, Vivek Johri

11:54 AM

Drug marker Lupin reports 72% decline in Q3 net profit to Rs 153 cr

Drug maker Lupin has reported 72 per cent decline in consolidated net profit at Rs 153 crore for the third quarter ended December 31, 2022. Total revenue from operations however increased to Rs 4,322 crore as compared with Rs 4,161 crore in the year-ago period. READ

11:40 AM

Stock of this Murugappa Group company has zoomed over 100% in 9 months

Shares of CG Power and Industrial Solutions continued at their upward movement, hitting a new high of Rs 327, as they rallied 5 per cent on the BSE in Friday's intra-day trade. The rally comes after MSCI decided to include the Murugappa Group company in its India index. The changes will take place at the close of February 28, 2023. In comparison, the S&P BSE Sensex was down 0.19 per cent at 60,690 at 11:09 am. READ

11:29 AM

Analysis: Shock of war hits world economy at another crossroads post covid

"The shock of war on demand and prices has cascaded through the global economy and, in conjunction with COVID and other policy decisions, has created these headwinds to growth," said Robert Kahn. READ

11:16 AM

India's green bonds show policy focus on climate mitigation: Fitch Ratings

The sovereign green bonds issued by India reflects the growing policy focus to scale up domestic financing capacity on climate mitigation and adaptation, said credit rating agency Fitch Ratings on Friday. READ

10:48 AM

Zomato dips 7% on profit booking as loss widens to Rs 347 crore in Q3

Shares of restaurant aggregator Zomato dipped 7 per cent to Rs 50.35 on the BSE in Friday's intra-day trade on profit booking after the company's losses widened to Rs 346.6 crore for the quarter that ended in December (Q3FY23). READ

10:38 AM

Retail inflation likely rebounded from 12 months low to 5.9% in January

Higher food prices likely nudged up India's annual retail inflation last month from a 12-month low in December, but it stayed within the Reserve Bank of India's targeted range for a third consecutive month, a Reuters poll of economists predicted. READ

 

10:28 AM

Paytm slips 9% intra-day as nearly 5% equity changes hands on NSE

In Q3FY23, Paytm's Ebitda (earnings before interest, taxes, depreciation, and amortization), an indicator of operational profit, before ESOP cost margin, improved to Rs 31 crore. The company said it achieved operating Ebitda profitability three quarters ahead of guidance, driven by revenue growth across businesses, disciplined cost management, and operating leverage. READ MORE

10:15 AM

Divested entire stake in Adani group: Norway sovereign wealth fund

"Since year-end, we have further reduced in Adani companies. We have no exposure left," Christopher Wright, the fund's head of ESG risk monitoring, told a news conference. READ MORE

10:03 AM

Adani Green, Adani Transmission, Adani Total Gas hit 52-week lows

Among the other group companies, Adani Ports and Special Economic Zone, Adani Wilmar, ACC, Ambuja Cements and New Delhi Television (NDTV) are down in the range of 1 per cent to 5 per cent. In comparison, the S&P BSE Sensex was down 0.35 per cent 60,594. READ MORE

9:52 AM

Result today :: M&M's Q3 revenues may rise up to 42% YoY

Motilal Oswal

The brokerage firm estimates strong volume recovery in both autos (improving supply chain) and tractors (healthy farm sentiments). Analysts peg 15.7 per cent YoY growth in volumes to 2.81 lakh units from 2.14 lakh units, in the year-ago period. On the other hand, a sequential improvement in Ebitda margins is likely in Q3FY23 to 12.7 per cent, up 70 bps from 12 per cent in Q2FY23, supported by better mix and operating leverage. READ MORE

9:42 AM

Nifty PSU bank index advances 1%; PSB, UCO rally up to 3%