Sensex ends choppy day 170 pts up, Nifty at 17,650; IT stocks lead gains

Closing Bell: Broader markets trailed gains in benchmark indices. The BSE Midcap and Smallcap indices closed up to 0.2 per cent lower

2:37 PM

Paint biz goes off-colour, likely to see a fresh coat of downside in demand

The paint sector has been an underperformer, with most listed majors shedding 24-30 per cent since their highs in August and September of 2022-23 (FY23). Except for AkzoNobel, paint companies have lagged behind benchmarks and peer indices on returns during this period. READ MORE

2:31 PM

Earnings Alert: Gail India Q3 net slumps 92%; stock slips 5%

Gail India Q3 net plunged 92.5 per cent to Rs 245.73 crore for the quarter ended December 2022 when compared with Rs 3,287.99 crore in the corresponding quarter a year ago. Total income was up 36.5 per cent YoY at Rs 36,069 crore.

2:24 PM

Resilient growth outlook seen bringing FPI flows back to India

Following a year of heavy capital outflows, Indian financial markets are likely to be recipients of overseas portfolio investment in 2023 as domestic economic growth, while seen slowing, is still likely to outpace that in several pockets of the world, analysts said. READ MORE

2:16 PM

BSE 500:: EID Parry, BEL, Adani Group stocks among top losers

Adani Total Gas, Adani Transmission and Adani Green were locked at the 20 per cent lower circuit and were the top losers among the BSE 500 stocks. EID Parry and Bharat Electronics, down 7 - 8 each were the other major losers so far on Monday.

2:07 PM

Laurus Labs posts 32% profit jump on demand for drug ingredients

Laurus Labs Ltd reported a 32.1% rise in third-quarter profit on Monday, boosted by strong demand in its businesses that make chemicals and other ingredients used in medicines. READ MORE

1:59 PM

Earnings Alert: Bajaj Finserv Q3 net jumps 42%; stock up

Bajaj Finserv reported a 41.9 per cent growth in Q3 net profit at Rs 1,782.02 crore for the quarter ended December 2022 as against Rs 1,255.79 crore in the corresponding quarter a year ago. Total income was up 23.5 per cent YoY at Rs 21,755.35 crore.

1:49 PM

More glitter: Multi-asset allocation funds burnish gold's safe-haven appeal

Multi-asset allocation fund managers have raised the allocation towards gold in the past few months, given the optimistic outlook for the yellow metal amid a slowdown in the global economy. READ MORE

1:40 PM

FM should cut cess, taxes on fuels and surcharge on income tax: Chidambaram

Finance minister Nirmala Sitharaman should put more money in hands of the people by cutting cess and taxes on fuels as well as surcharge on personal income tax, Congress leader and former finance minister P Chidambaram has said days ahead of the Budget. READ MORE

1:31 PM

Global Check:: Mixed outing for Asian shares; Taiwan soars 3.7%; Hang Seng cracks 2.8%

Source: Yahoo Finance

1:22 PM

Budget 2023-24: With all eyes on growth, it's over to FM Sitharaman

A domestic economic slowdown, two years of Covid-19 pandemic, and a war in Europe that upended the global supply chain tested the past four Union Budgets that Finance Minister Nirmala Sitharaman presented. Her fifth Budget, set to be presented on Wednesday, would now have to take into account equally challenging headwinds. READ MORE

 

1:13 PM

BSE 500:: Aegis Logistics, Indus Towers, Voda Idea among top gainers

Aegis Logistics up over 13 per cent was the top gainer among the BSE 500 stocks so far on Monday. It was followed by Indus Towers, Vodafone Idea, Intellect Design and Easy Trip Planners, up 6 - 7 per cent each.

1:05 PM

Heranba Industries tanks 20%, hits record low on weak Q3 results

Shares of Heranba Industries hit a record low of Rs 372.85, as they tanked 20 per cent on the BSE in Monday’s intra-day trade after the company reported 73 per cent year-on-year (YoY) drop in its profit after tax (PAT) of Rs 14.4 crore in December quarter (Q3FY23), due to weak operational performance. READ

12:57 PM

MARKET CHECK: Sensex edging lower, drops 300 pts

12:47 PM

Budget 2023-24: Centre to target higher capex but lower fiscal deficit

In the Budget 2023-24, the Centre is most likely to target a higher capital expenditure (capex) projection but a lower fiscal deficit on the back of healthy revenue, experts told Business Standard. This could be achieved mainly due to lower subsidies and buoyant tax collections. Read here

12:38 PM

Will Budget 2023-24 be populist or pragmatic? Brokerages weigh in

Will the government go all out to woo voters with populist schemes in its last full Budget before of the general elections in 2024, or will it toe the line of fiscal prudence? What can retail investors and India Inc hope for? Read more