Sensex ends 147pts lower at 59,958; Nifty50 below 17,900; RIL declines 2%

CLOSING BELL: Broader markets, too, were subdued in trade as Nifty SmallCap 100 and Nifty MidCap 100 indices slipped up to 0.2 per cent

9:20 AM

OPENING BELL: Sensex rises over 100 points, above 60,200

9:19 AM

OPENING BELL: Nifty50 moves in green, opens above 17,900

9:08 AM

PRE-OPEN TRADE: Sensex moves flat below 60,100 levels

9:07 AM

PRE-OPEN TRADE: Nifty50 swings above 17,900 levels

9:05 AM

CURRENCY CHECK: Rupee opens 81.5/$ against previous close of 81.6/$

8:58 AM

Sebi allows active to passive ELSS switch for asset management companies

This comes at the beginning of the most critical quarter for ELSS schemes, which are used by investors to avail themselves of tax deductions. Passive schemes have been stealing a march over active schemes lately thanks to their relatively lower costs and better performance. READ MORE

8:55 AM

WATCH :: Why is the Oyo IPO getting delayed?

8:54 AM

Budget 2023: Digital infra, cybersecurity spending critical for tech sector

Apart from the direct expenditures, the government is also expected to extend the production-linked incentives for electronics manufacturing schemes to encourage domestic manufacturing READ MORE

8:51 AM

RBI urges bond market players to use tool to prevent gilt auction errors

The facility permits market participants to set a maximum and minimum value for bids—both in yield terms and price terms—they wish to submit at bond auctions. The range can be set for each security that is up for auction and can be modified during the bond sale. Once the limits have been set by the market participant—or the investor—the bids are automatically validated only against the pre-determined limits. READ MORE

8:48 AM

'Vanishing act' by more than two dozen listed cos; BSE reaches out to firms

Asia’s oldest stock exchange has reached out to multiple companies that have been suspended for not meeting listing requirements, only for their communication to be returned undelivered from their registered office addresses. READ MORE

8:46 AM

Stocks to Watch: Sah Polymers, Concor, IIFL Wealth, RailTel

Container Corporation of India (Concor): The government to invite Expression of Interest (EoI) for privatising Concor this month, according to a company official. The Cabinet, in November 2019, had approved strategic sale of a 30.8 per cent stake, along with management control of Concor.

 

Adani Group: The Gautam-Adani led Group plans to invest over Rs 60,000 crore in a number of sectors in Madhya Pradesh, Pranav Adani, director at Adani Enterprises said at the seventh Madhya Pradesh Global Investors Summit. The sectors and projects that the Group plans to invest include four-laning of NH-47, gas link project and micro-irrigation system. READ MORE

8:43 AM

Here's why Ravi Nathani is optimistic on the financial sector

Nifty PSU Banks Index

 

The index seems range bound on charts between 4,420 – 4,150. On Wednesday, the Nifty PSU Bank Index made a low of 4,154 just near the lower range, and then a sharp bounce was been witnessed from the lows, resulting index closing in green by 30 points. READ MORE

8:40 AM

Mehul Kothari is bullish on HPCL, SAIL

BUY Hind Petro

 

Target: Rs 278

 

We are witnessing a major range breakout in most of the oil marketing companies. With regards to Hind Petro, the stock has confirmed breakout above Rs 255 mark from the bullish cup and handle pattern. The price action is supported with increasing volumes. READ MORE

8:38 AM

Infosys Q3 growth may be muted on higher furloughs; PAT may rise 9-15% YoY

Street will watch out for growth and margin guidance, commentary on client budgets, deal momentum, macro impact on revenues, attrition trend, whether vendor consolidation and cost take-out deals have increased, the health of impacted verticals such as hi-tech, retail, parts of financial services and Europe, pricing leverage if any and margin outlook. READ MORE

8:34 AM

HCL Tech revenues may rise up to 6% QoQ to Rs 26,214 cr in Q3FY23: Analysts

As per five brokerage estimates, analysts peg EBIT margins to see an uptick in the range of 53-60 basis points (bps) QoQ to 18.5 per cent in Q3FY23, driven by easing supply-side constraints, better utilisation levels, and higher growth in products and platforms (P&P) business segment. Net profit, meanwhile, is likely to improve 9.6 per cent to Rs 3,825 crore. READ MORE