Sensex sinks 389 pts, Nifty below 18,500; IT, PSBs crack; HCL Tech down 7%

CLOSING BELL: Sectorally, defensive indices like the Nifty FMCG and Pharma held gains as they rose 0.8 per cent and 0.4 per cent

2:06 PM

OZiva buyout to improve HUL's health and wellbeing in long-run: Analysts

HUL is currently present at the mass end in supplement and wellness space through Horlicks. OZiva & Wellbeing Nutrition acquisitions will help grow presence in the premium segment. READ MORE

1:54 PM

BSE 500:: Vakrangee, HCL Technologies, Bank of India among top losers

Vakrangee down 10 per cent was the top loser among the BSE 500 stocks. HCL Technologies, Bank of India, Indiabulls Real Estate and Brightcom Group, down 5 - 7 per cent each were the other major losers so far on Friday.

1:46 PM

Vadilal Ind soars 10% on board nod to buy 'Vadilal' brand from promoter co

The company's board on Thursday approved the purchase of the "Vadilal" brand from its promoter group entity Vadilal International; the stock later pared half of its gains. READ MORE

1:29 PM

IMF, World Bank raise concerns over worsening global economic outlook

The International Monetary Fund, World Bank and others raised concerns about a worsening global outlook, while hopeful that China’s reopening will help support world growth. Read here

1:15 PM

Rising gas prices constrain CNG penetration in commercial vehicles: Icra

Rising gas prices have constrained CNG penetration in commercial vehicles to 9-10 per cent in the current fiscal from peaks of 16 per cent, Icra Ratings said on Friday. Read more

1:01 PM

Banks need to scale up investments in technology, says RBI's MK Jain

Indian banks and financial institutions should increase investments in technology as their legacy systems may not be suited to rapid changes in product design and computation, said MK Jain, deputy governor of the Reserve Bank of India. Read more

12:47 PM

India inflation likely softened to nine-month low in November, shows poll

Inflation has stayed above the upper end of the Reserve Bank of India's 2%-6% tolerance band all year and this has triggered 225 basis points of interest rate rises to the repo rate so far. Read here

12:31 PM

India's public spending could crowd out private spending, says CEA

India's chief economic adviser said on Friday that the current pace of public spending in the country could crowd out private spending. Read more

12:19 PM

Wedding season pushed vehicle retail sales up by 26% in November: FADA

India's vehicle retail sales jumped 26 per cent in November compared to the corresponding period in 2021, according to data released by the Federation of Automobile Dealers Associations (FADA). The rise in sales came on the back of the Great Indian Wedding Season (from November 14 to December 14) that has so far seen around 3.2 million weddings. Read more

12:08 PM

Bulls fancied these 5 auto ancillaries in 2022; charts hint 25% rally ahead

Shares of auto ancillary companies have performed well so far in 2022, with select ones on the track to deliver high double-digit returns. Among top performers, Pricol and JTEKT India have surged 80 per cent each, while Lumax Auto Technologies gained 70 per cent. Read more

11:59 AM

Digispice Technologies tanks 7% as CEO Chandrachur Ghosh resigns

Digispice Technologies' shares cracked 7.4 per cent to Rs 26.75 on the BSE in the intra-day trade on Friday after the company said its chief executive officer (CEO), Chandrachur Ghosh, has tendered his resignation. Read here

11:50 AM

Snapdeal to shelve its $152 million IPO amid tech stock market retreat

SoftBank-backed Indian e-commerce firm Snapdeal has decided to pull the plug on its $152 million IPO, the company told Reuters, making it the latest casualty of a meltdown in tech stocks that has soured investor sentiment. Read more

11:41 AM

Deadline to submit interest for IDBI Bank extended to early Jan: Report

The Indian government will extend the deadline to submit expressions of interest for its stake sale in IDBI Bank to early January from Dec. 16 previously, a government source familiar with the talks told reporters on Friday. Read here

11:29 AM

Kalpataru Power rallies 9% on board nod for Rs 99-crore fund raise via NCDs

A total of 990 NCDs of face value of Rs 10 lakh each will be issued at a coupon rate of 8.46 per cent under the fundraising plan. Read here

11:15 AM

YES Bank zooms 15% on heavy volume, stock hits 2-year high in weak market

Shares of YES Bank vaulted 15 per cent to a two-year high of Rs 20.4 on the BSE in Friday's intra-day deals. The jump was supported by massive volumes on the counter as 760 million shares, together, changed hands on the NSE and BSE. At 10:44 AM, shares of the lender were up 12 per cent at Rs 19.9 per share as against 0.28 per cent fall in the benchmark S&P BSE Sensex. Read more