Sensex, Nifty50 end flat in a wobbly trade; Tata Motors, Maruti surge 3%

CLOSING BELL: Broader markets, too, turned tepid as Nifty MidCap 100 and Nifty SmallCap 100 indices declined up to 0.3 per cent

1:14 PM

Modi govt has mostly failed in meeting fiscal targets set in Budgets

The Modi government has never been able to meet the fiscal deficit targets it sets for the next two years in the nine budgets, except for 2016-17, given in the Budget for 2015-16. Even in this case, the original target given in the Budget for 2014-15 was three per cent of the gross domestic product (GDP), which was widened to 3.5 per cent in the next Budget and realised. READ MORE

1:04 PM

BSE 500:: Route Mobile, Nykaa, Happiest Minds among top gainers

Route Mobile up over 10 per cent was the top gainer among the BSE 500 stocks so far on Tuesday. It was followed by Nykaa, Poonawalla Fincorp, Happiest Minds and Zensar Technologies, up 5 - 7 per cent each.

12:47 PM

Analysts raise Axis Bank's earnings forecast; to track deposit growth ahead

Axis Bank Q3 review: With Axis Bank holding its earnings’ growth momentum in the December quarter (Q3) of financial year 2022-23 (FY23), analysts have raised their net profit forecasts for upcoming financial years by as much as 15 per cent, and net interest income (NII) forecasts by 11.5 per cent. Read here

12:36 PM

Tata Motors gains 4% on heavy volumes; stock surges 12% in one month

Shares of Tata Motors were trading higher for the third straight day, surging 4 per cent to Rs 423.80 on the BSE in Tuesday’s intra-day trade amid heavy volumes ahead of Jaguar Land Rover (JLR) third quarter results. Read here

12:26 PM

MARKET CHECK; Sensex pares most gains

12:09 PM

Hunting for value in growth-oriented businesses: Mirae's Neelesh Surana

Value stocks did well in 2022 due to favourable risk-reward ratio. However, since the run-up has largely corrected the undervaluation, future upside in these stocks will depend on sustainability of earnings, said Neelesh Surana, chief investment officer (CIO), Mirae Asset Investment Managers. Surana told Abhishek Kumar that opportunities have emerged in growth-oriented business, post the time and price correction last year. Read here

11:55 AM

Metals eye up to 15% gain amid China reopening, likely capex push in Budget

Reopening of China’s economy after years of strict Zero-Covid policies may trigger fresh rallies in metal stocks globally. The policy shift could boost the demand for various assets classes from commodities, equities to currencies. Read more

11:45 AM

Gravita India surges 8% to hit record high after strong Q3 results

Shares of Gravita India rallied 8 per cent to hit a record high of Rs 496.55 in Tuesday’s intra-day trade, after the company reported 28 per cent year-on-year (YoY) jump in profit after tax at Rs 50.20 crore for the quarter ended December (Q3FY23), on the back of healthy topline growth. Read more

11:32 AM

ALERT :: Gati launches advanced surface transhipment centres in Nagpur and Guwahati

>> The launch of Nagpur and Guwahati STCs is in line with Gati’s plan to set up 12 modern, automated and environmentally friendly STC.

>> The company has plans to launch more STCs in Mumbai, Bengaluru and Hyderabad, as it aims to further strengthen its supply chain and warehousing competencies and networks.

>> the Nagpur STC is spread over a 50,000 sq. ft. area and has the capacity to efficiently manage short-haul deliveries in west India and long-haul deliveries across the country. Equipped with advanced technologies, the STC offers its customers optimized supply chains, reduced dwell times and on-time deliveries.

11:23 AM

India bluechips to shift to world's fastest settlement cycle T+1 this week

Starting Jan. 27, stocks from Reliance Industries Ltd. to Tata Consultancy Services Ltd. and Adani Enterprises Ltd will be settled on a 'trade-plus-one-day' timeline versus the earlier two-day process. Read more

11:10 AM

Maruti Suzuki probing allegations of malpractices by executives: Report

Maruti Suzuki India is probing allegations of fraud and wrongdoing by some company executives in its purchase department, a report by The Economic Times said. It is being done based on a complaint filed by a whistleblower. Read

11:00 AM

Rupee falls 26 paise to 81.68 against dollar amid rise in forex outflows

The rupee declined by 26 paise to 81.68 against the US dollar in early trade on Tuesday due to a rise in crude oil prices and forex outflows. Read more

10:47 AM

Profit-booking in Axis Bank after strong Q3 results, stock slumps 2%

Shares of Axis Bank slipped 2 per cent to Rs 918 in Tuesday’s intra-day trade, on profit booking, after the bank reported 62 per cent year-on-year (YoY) jump in standalone net profit to Rs 5,853 crore for the October-December quarter (Q3FY23). Read here

10:35 AM

HDFC Bank rallies 7% in six days; stock inches towards all-time high

The management said the final hearing of NCLT, regarding the merger with HDFC, would take place on January 27, 2023, post which regulatory process will remain to be undertaken. Read here

10:20 AM

Tata Motors reducing discounts on trucks to improve margins: Report

Tata Motors sells over 50 per cent of all the medium and heavy trucks in the country yet its margins have remained thin. READ MORE