ITC, RIL, ICICI Bank help lift Sensex 600 pts higher, Nifty above 17,900

CLOSING BELL: Sensex and Nifty indices snapped their 2-day losing run, ralling on Tuesday as supportive global cues, ease in WPI inflation, and healthy buying in heavyweights lifted sentiment.

1:26 PM

Is the worst over for new-age tech companies? Here's what analysts say

A renewed buying interest in new-age technology companies was seen in the past one month, as investors pinned hopes on improved outlook post the October-December 2022 quarter results (Q3FY23). READ MORE

1:17 PM

Global Check:: India outperforms Asian peers in Tuesday's trade

Source: Yahoo Finance

1:06 PM

Adani Group likely to repay short-term commercial paper debt: Bankers

Two large companies within India's embattled Adani Group are likely to repay their short-term commercial paper (CP) debt as they come due over the next few months, instead of rolling them over as is normal, two merchant bankers and a company official directly familiar with the matter said. READ MORE

12:57 PM

BSE 500:: Oil India, Cyient, UPL among top gainers

Oil India up over 6 per cent was the top gainer among the BSE 500 stocks for the second straight day, so far, on Tuesday. It was followed by Cyient, City Union Bank, Elgi Equipments and Icron International, 4 - 5 per cent each.

12:49 PM

US crackdown aims to push crypto industry back to the fringes of finance

The regulators are effectively building a wall between crypto trading and the banking and securities markets to prevent the types of systemic vulnerabilities that led to the 2008 financial crisis. READ MORE

12:40 PM

ITC gains 3% a day ahead of turning ex-dividend; stock nears record high

In the past one month, the stock has zoomed 17 per cent, as compared to less than 1 per cent rise in the S&P BSE Sensex. Brokerages believe that the proposed tax hike on cigarette in the Union Budget 2023 is not very high and would be easily passed on through small price increases. READ MORE

12:30 PM

Adani crisis unlikely to spill over to other Indian conglomerates

“Adani is an outlier, not representative of India Inc. as a whole,” economists Abhishek Gupta, Scott Johnson and Tom Orlik said in their report Tuesday. “India’s conglomerates do not yet rank among global majors like Apple and Tesla. But neither are they about to collapse in a heap of governance failures.” READ MORE

12:23 PM

ALERT :: January WPI inflation eases to 4.73%, lowest in 2 years

>> WPI inflation was 4.95% in December 2022

12:18 PM

Chart check: Are new-age stocks witnessing a trend reversal or pullback?

Shares of FSN E-Commerce Ventures on Tuesday plunged over 5 per cent, post reporting 71 per cent decline in net profit YoY in its December ending quarter. PB Fintech and Zomato fell over 2 per cent, while One 97 Communications and Delhivery lost 1.50 and 0.50 per cent, respectively. READ MORE

12:09 PM

Dabur weighs acquisitions to expand across India, SE Asia amid competition

The expansion comes as Dabur faces intensifying competition from deep-pocketed rivals — including global consumer titan Unilever Plc — which are swooping in on upstart Indian brands. Powerful Indian conglomerates led by two of Asia’s richest men, Mukesh Ambani and Gautam Adani, also have ambitious plans to scale up in the household retail space, while Tata Consumer Products Ltd. is looking to bulk up its portfolio through acquisitions. READ MORE

11:55 AM

6 out of 10 Adani group stocks locked at 5% lower circuit in firm market

Adani Power (Rs 148.30), Adani Green Energy (Rs 653.40), Adani Transmission (Rs 1,070.55), Adani Total Gas (Rs 1,135.60), Adani Wilmar (Rs 393.60) and New Delhi Television (NDTV) (Rs 188.35) were locked in the lower circuit, with only sellers seen at these counters. READ MORE

11:45 AM

Brokerages raise ratings on Nippon, HDFC AMCs following better Q3 show

Brokerages have raised their ratings on two of the top asset management companies (AMCs) in India — HDFC and Nippon Life India — after they managed to raise their profits in the third quarter of financial year 2022-23. While HDFC AMC's profit went up 2.7 per cent in the previous quarter, Nippon AMC's bottom line expanded 18 per cent. READ MORE

11:34 AM

MARKET CHECK :: Sensex at day's high

11:25 AM

Nykaa extends fall post Dec quarter results; stock down 8% in two days

According to analysts at Jefferies, Nykaa has been able to carve out a niche for itself through its focus on BPC, which differentiates it from horizontals (Flipkart and Amazon). The recent years have seen a surge in transacting customers for the company. Nykaa should benefit from the increasing order frequencies and basket values, as the newer customer cohorts mature, the brokerage firm said in result update. “We expect Nykaa to remain in a hypergrowth phase in the medium term as online BPC and fashion penetration ramps up,” analysts said. READ MORE

11:13 AM

CBI gets NSE go-ahead to prosecute Chitra Ramkrishna in colocation case

Earlier, in September last year, the Delhi High Court had granted her bail in the colocation case and her alleged involvement in misconduct related to the compensation of former Group Operating Officer of NSE, Anand Subramanian. The case was registered by the CBI. READ MORE