Adani Enterprises, RBI policy takes Nifty above 17,850, Sensex leaps 378pts

CLOSING BELL: Adani Enterprises surged 23 per cent, while Adani Ports zoomed 9 per cent, leading the winners' list on the Nifty50

3:38 PM

Nifty 50:: Adani Enterprises lead gainers chart; Adani Ports, HDFC Life also shine

3:36 PM

Sensex 30 Heatmap:: 24 Gainers v/s 6 Losers

3:35 PM

CLOSING BELL:: Nifty 50 settles at 17,872, up 150 points

3:33 PM

CLOSING BELL:: S&P BSE Sensex ends 378 points higher at 60,664

3:24 PM

Global Check:: US, UK futures display mixed bias

Source: Investing.com

3:16 PM

Despite a good Q3, near-term demand worries cloud Apollo Tyres' outlook

Led by a strong operating performance, Apollo Tyres posted better-than-expected financials for the October-December quarter (Q3). Higher gross margins led to a sharp jump in operating profit and the softening raw material basket is a positive for profitability going ahead. Despite the improved show, the stock corrected 3 per cent in trade on Tuesday, which can be attributed to the subdued outlook for domestic and international replacement segments. READ MORE

3:09 PM

Business Update:: Star Health gross direct premium collection up 13%

Star Health and Allied Insurance reported a 13 per cent growth in gross direct premium at Rs 8,806 crore in January 2023 as against Rs 9,947 crore in January 2022.

3:00 PM

Q3 result :: Adani Wilmar's net profit up 16.5% at Rs 246.2 cr vs Rs 211.4 cr YoY

>> Revenue up 7.4% at Rs 15,438.1 cr vs Rs 14,370.9 cr YoY

    

>> EBITDA up 20.2% at Rs 605.3 cr vs Rs 503.6 cr YoY 

 

>> Margin at 3.9% vs 3.5% YoY
 

2:59 PM

BSE 500:: Privi Speciality, Symphony, Thermax among volume shockers

Privi Speciality Chemicals witnessed unusally high volume of around 1.53 lakh shares so far on the BSE as against its five-day average volume of around 3,200-odd shares. Similarly, Symphony, Thermax, Paytm and Zomato were among the other BSE 500 volume toppers on Wednesday.

2:50 PM

Sebi to put onus of detecting price rigging, insider trading on brokers

Asks brokers to maintain whistleblower policy, furnish action-taken report upon spotting fraud; top management to be held accountable for non-compliance. READ MORE

 

2:43 PM

MPC's optimistic growth outlook augurs well for credit demand

The MPC's optimistic growth outlook for H2 FY2024 augurs well for the credit demand for the banking sector as well as the lenders, said Karthik Srinivasan of Icra. READ MORE

2:41 PM

BREAKING :: Turkey's stock exchange suspends trading

⚠️BREAKING:

*TURKEY'S STOCK EXCHANGE SUSPENDS TRADING FOR THE FIRST TIME IN 24 YEARS, FOLLOWING STEEP SELLOFF TRIGGERED BY THE TWIN EARTHQUAKES

2:35 PM

New-age stocks in focus; Paytm, Policybazaar, Zomato, Nykaa gain up to 10%

Shares of beaten down new-age internet companies rallied up to 10 per cent on Wednesday, supported by heavy volumes, on expectation of improvement in financial performance. READ MORE

2:26 PM

Global Check:: Kospi, Taiwan shine in mixed Asian trade

Source: Yahoo Finance

2:19 PM

Expert on RBI Policy: Another rate hike possible to keep the Rupee stable

The Reserve Bank of India (RBI) has hiked the repo rate by 25 basis points, which is in line with our expectations. Despite this increase, a major concern for the RBI remains that core inflation is likely to remain sticky. This indicates that the RBI governor is cautious in taking any risk with inflation. Additionally, the Federal Reserve's stance of not taking a chance with inflation further strengthens RBI's resolve to be proactive. Therefore, we believe that in the next monetary policy, RBI may take the decision of another rate hike to keep the Indian Rupee stable.

 

- Sunil Damania, Chief Investment Officer, MarketsMojo