Sensex gains 327 pts in first session of 2023, Nifty nears 18200; RIL up 1%

Closing Bell: Among sectors, the Nifty metal index was the top performer of the day, which jumped 2.4 per cent after global brokerage Jefferies changed its stance on the sector to 'positive'

12:19 PM

2022 car sales zoom 23% to record high of 3.8 mn; 14% higher than 2018 peak

The auto industry posted its highest-ever annual domestic passenger vehicle (PV) sales in 2022 at 3.793 million units on the back of pent-up demand and better semiconductor chip supply. The figure was 23.1 per cent more than that of 2021. Read more

12:04 PM

COMMENT: FII selling may be seen in early 2023 amid high valuations

There are mixed signals from the economy and markets as trading begins for the New Year. Robust GST collections at Rs 1.49 trillion indicate resilience of the economy and surveys among CEOs reveal that many companies are upbeat about hiring and capex in 2023.

This augurs well for India’s economic outperformance again in 2023 and this can lead to market outperformance, too.

However, since valuations continue to be high, there can be selling pressure particularly from FIIs, in the early days of 2023.

Rising bond yield in the US (the 10-year yield is at 3.88 %) is negative. Investors should focus on beating the market in 2023. Market-beating returns can come from banking, capital goods and construction-related sectors.

Views by V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

 

11:50 AM

PODCAST: Where is the National Monetisation Pipeline headed?

The govt's asset monetisation plan was on track last year as it surpassed its target in FY22. But what is the current situation like? Is the plan on track to meet the target in the current fiscal too? Tune in

11:40 AM

Rupee at 82.5750, gains on speculators bets, lack of cash dollar demand

Rupee was trading higher against the US dollar, helped by likely position building and lack of cash dollar demand. Read more

11:28 AM

This SME shipping company's stock is up more than 2,900% over issue price

Knowledge Marine & Engineering Works rallied 11% to hit a new high of Rs 1,129.85 after the company received an additional work order of Rs 16.50 crore from Dredging Corporation of India. Read more

11:17 AM

Torrent Power to buy 1.1 Gw green energy capacity from ReNew Energy: Report

Ahmedabad-based Torrent Power has submitted a non-binding offer (NBO) for ReNew's solar and wind assets of 350 and 450 Mw for $450 million. Read here

11:08 AM

Gross budgetary allocation for Railways to go up by 29% in Budget: Report

The total capital expenditure (capex) of the railway ministry is expected to jump 20 per cent to Rs 3 trillion in FY24. Read here

10:56 AM

India's December manufacturing PMI expands to 57.8; highest in over 2 yrs

Monday's data cemented the view Asia's third-largest economy is better placed than many other emerging economies to weather the impact of a potential global recession. Read more

10:46 AM

Kalpataru Power, JMC hit 52-week highs on fixing record date for merger

Pursuant to the amalgamation scheme, JMC's shareholders (other than KPTL) will be allotted one share of KPTL against every four shares held by them in JMC. Read more

10:42 AM

Dec Auto Sales :: M&M's total sales jump 45% YoY

>> Mahindra & Mahindra's overall auto sales for the month of December 2022 stood at 56,677 vehicles.

>> In the Utility Vehicles segment, Mahindra sold 28,333 vehicles in December 2022.

>> The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 28,445 vehicles in December 2022.

>> Exports for the month were at 3,100 vehicles. In the Commercial Vehicles segment, Mahindra sold 20,080 vehicles in December 2022. 

10:36 AM

ALERT :: Manufacturing PMI rises to 57.8 in December vs 55.7 MoM

10:29 AM

BF Investment zooms 20% as board to consider delisting plan on January 4

The promoters expressed their intention either individually or collectively, as the case may be, acquire all equity shares that are held by public shareholders. READ MORE

10:20 AM

Gold may enter short-term corrective phase, test Rs 52,000-level

Going ahead, while the bias for Silver futures remains positive, Gold futures may see a corrective move given the persistent resistance above the Rs 55,000-mark. READ MORE

10:11 AM

Canara Bank hits highest level since February 2018; surges 83% in 6 months

In the past one week, it has rallied 10 per cent, as against a marginal 0.40 per cent gain in the S&P BSE Sensex. READ MORE

9:59 AM

MOIL surges 4% after registering best production in Dec 2022