Stock Market Highlights, April 10: Sensex rises 354 pts, Nifty holds 22,750; broader indices outshine

Stock market updates on Wednesday, April 10: Among sectors, the Nifty PSU Bank, FMCG, Media, and Metal indices gained in the range o 1.23 per cent to 1.80 per cent

2:07 PM

Rotation into large-caps could continue ahead of elections: Ritu Arora

Indian markets have rebounded sharply from their lows in mid-March with the Sensex crossing the 75,000 mark for the first time ever this week. RITU ARORA, chief executive office and chief investment officer for Asia at Allianz Investment Management, tells Puneet Wadhwa in an email interview that the Indian markets will witness periodic corrections and provide better entry opportunities over the next year. Edited excerpts:

1:52 PM

Kolte Patil zooms 10% as Motilal Oswal gives 'Buy' rating, 34% upside eyed

Shares of the company soared as much as 10.05 per cent to hit an intraday high of Rs 569.05 per share after Motilal Oswal initiated coverage on the real estate developer. READ MORE

1:40 PM

SC sets aside Rs 8,000 cr arbitral award to Anil Ambani's Reliance Infra

In a significant relief to the Delhi Metro Rail Corporation (DMRC), the Supreme Court on Wednesday set aside the Rs 8,000 crore arbitral award in favour of Anil Ambani-owned Reliance Infrastructure's metro arm, Delhi Airport Metro Express Private Limited (DAMEPL). READ MORE

1:29 PM

KSB rallies 5% as board to consider stock split; stock up 98% in 1 year

The company's board is scheduled to meet on April 26 to consider the proposal for sub-division/split of equity shares and also announce the March quarter results. READ MORE

 

1:16 PM

Global check:: Hang Seng surges 1.8% in mixed trade in Asia

1:02 PM

Will India be world's next growth driver as its economic growth speeds up?

With China's growth slowing, India could become the new engine of global economic growth, but it will take strategic investments, increased labour participation, and more to achieve its ambitions. READ MORE

12:49 PM

Explained: Silver prices may touch Rs 1 lakh, should you invest?

Motilal Oswal has cited several factors driving silver prices, including strong demand from the industrial sector (electronics, solar) and its role as a safe-haven asset during economic uncertainties. READ MORE

12:37 PM

Motilal Oswal trims price target on TaMo, sees 4% downside, Here's why

MOFSL said the revised price highlights expectations of stabilising growth in the near future due to moderate volume growth in domestic passenger and commercial vehicle industries. READ MORE

12:23 PM

Vistara's loss may not be IndiGo's gain; oil remains an overhang: Analysts

Surging oil prices, according to analysts, could hit the airline if the government decides to hike the prices of aviation turbine fuel (ATF). READ MORE

12:09 PM

Fitch downgrades China outlook to negative on economic growth risks

China's factory output and retail sales topped forecasts in January-February, joining better-than-expected exports and consumer inflation indicators, providing an early boost to Beijing's hopes. READ MORE

11:50 AM

Gold can rise 5% to Rs 75,000; Silver by 2.5% to Rs 85,000, charts suggest

Commodities such as Gold and Silver have rallied sharply in the last two weeks amid rise in geopolitical crisis and hopes of interest rate cut in the US.

Gold futures in the international market, rallied from $2,170 per ounce to $2,384 per ounce - up 9.9 per cent in the last three weeks. Meanwhile, Silver futures outperformed with a gain of 16 per cent during the same period. Read more

11:05 AM

Vedanta soars 8%, hits 23-month high on heavy volumes; zooms 45% in 4 weeks

The company is favourably positioned to capitalise on the commodity upcycle, thanks to its diversified exposure. Moreover, its ongoing efforts to enhance capacity and profitability across various segments bode well for future prospects, as per reports. READ MORE

10:45 AM

ALERT :: Kolte Patil zooms over 7% as MOFSL initiates coverage

>> With the scale-up in operations, we expect post-tax OCF to double to INR8b by FY26. Further, the net cash position as of Dec’23 also provides comfort and ample headroom to capitalize on future growth opportunities. We initiate coverage on the stock with a BUY rating and a TP of INR700, implying 34% upside.

10:30 AM

ALERT :: Gensol Engineering reports order book of Rs 1,783 crore at the start of FY25

10:13 AM

PB Fintech surges 7%, hits 2-year high on pact with ICICI Lombard

Stocks of PB Fintech are trading at its highest level since November 2021. It had hit a record high of Rs 1,470 on November 17, 2021. At 09:21 am, the stock was trading 5 per cent higher at Rs 1,369.85, as compared to the 0.33 per cent rise in the S&P BSE Sensex. On the other hand, shares of ICICI Lombard General Insurance Company were quoting 1 per cent higher at Rs 1,713 on the BSE. READ MORE