Sensex ends 232 pts up, Nifty50 near 19,600; Pharma, IT stocks upbeat

Closing Bell on August 7: Among sectors, Nifty Healthcare, Nifty Pharma, and Nifty IT indices emerged as the top leaders, gaining up to 2 per cent

10:57 AM

In charts: Is it too early to call out a bull market peak?

While India's broader markets havefulfilled the condition of entering a bull market from March 2023 lows, or even year-to-date ( YTD), the benchmark index NIFTY50 is up by only a modest  per cent, which in no way qualifies as a bull market frenzy and indicates rational behavior, noted a report by ICICI Securities. READ

10:49 AM

Yatharth Hospital debuts on a quiet note, commands 14% gain at day's high

Shares of Yatharth Hospital and Trauma Care Services made a decent market debut, as they were listed at Rs 306.10, a 2 per cent premium against its issue price of Rs 300 per share on the National Stock Exchange (NSE) on Monday. Post listing, the stock moved higher to Rs 341, a 14 per cent premium to its issue price. On the BSE, the stock listed at Rs 304 and hit a high of Rs 340.90. READ

10:40 AM

Tech boom? India to see 40 startups launch IPOs in the next two years

Around 40 new-age firms could go public or be ready for an initial public offering ( IPO) by fiscal year 2025 as the ecosystem has turned its focus on profitability, according to a report by consulting firm Redseer. READ

10:30 AM

M&M jumps 3% as Q1 results impresses Street; brokerages remain bullish

Shares of Mahindra and Mahindra (M&M) rallied 3.6 per cent to Rs 1,518 per share on the BSE in Monday's intra-day trade, after the company reported 60 per cent jump year-on-year (YoY) in consolidated profit-after-tax (PAT) to Rs 3,508 crore in the April-June quarter of fiscal year 2023-24 (Q1FY24). READ

10:22 AM

Zen Technologies hits 10% upper limit on strong Q1 performance

Shares of Zen Technologies were locked at the 10 per cent upper circuit at Rs 675 on the BSE in Monday's intra-day trades after the company reported a strong set of earnings for the June quarter. 

 

The company's net profit zoomed 474 per cent to Rs 47.13 crore for the quarter ended June 2023 when compared with Rs 8.21 crore in the corresponding quarter a year ago. READ

10:13 AM

Paytm rallies 12% as Vijay Shekhar Sharma buys 10.3% stake from Antfin

Shares of One97 Communications, the parent entity of Indian mobile payments and financial services company Paytm, surged 12 per cent to Rs 887.55 on the BSE in Monday’s intra-day trade after founder and chief executive officer (CEO) Vijay Shekhar Sharma entered into an agreement with Antfin to purchase 10.3 per cent stake in Paytm through an off-market transfer. READ

10:02 AM

VIEW: Q1 corporate earnings driven by banks, financials

A significant trend from Q1 results released till now is that there is impressive growth in corporate earnings but bulk of this profit growth has come from a few companies in banking and finance, oil refining and automobiles. Going forward, banking and finance and automobiles will continue to do well but many other segments are struggling. Capital goods appear to be on strong wicket and has the potential to deliver market beating returns for many quarters more.

 

Cues from the mother market US are favourable; particularly the sharp 14 bp dip in the US 10-year bond yield last Friday can once again favour renewed FPI buying. Latest data from the US indicate a slight cooling of the economy but the labour market continues to be strong. Markets will be keenly watching the July CPI print for clues on the Fed decision in August.
 

Indian market valuation is likely to remain elevated compared to peers. In spite of this India has the potential to deliver superior returns in the long run.

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

 

9:50 AM

TD Power dips 3% as InGovern red-flags governance concerns

InGovern Research, a voting advisory firm, has red-flagged governance concerns at the company, ahead of its annual general meeting (AGM) to be held on Wednesday. READ

9:48 AM

Dixon Tech, Optiemus slide up to 6% as govt defers laptop/PC import curbs

9:44 AM

Adani Green sinks 6% on block deal buzz

9:38 AM

Zen Tech freezes in 10% upper circuit

Q1 profit comes at Rs 47.13 crore from Rs 8.2 crore a year ago.

9:35 AM

Morepen Labs zooms 12% on strong Q1 results

Profit for the period came in at Rs 1463.32 lakhs vs Rs 563 lakhs a year ago. 

9:31 AM

Paytm surges 8% CEO looks to raise stake in company

Vijay Shekhar Sharma, founder and chief executive officer (CEO) of Paytm's parent One97 Communications, has agreed to purchase a 10.3 per cent stake in the fintech firm from Antfin (Netherlands) Holding BV. 

9:28 AM

Realty, Pharma pockets firm; FMCG lags

9:27 AM

SmallCaps hold relative strength