Stock Market Highlights, April 22: Sensex sprints 560 pts, Nifty tops 22,300 in broad relief rally

Stock market highlights on April 22: Among sectors, the Nifty PSU Bank index rallied 3.3 per cent, the Nifty Realty 1.12 per cent, and the Nifty Pharma index 1.5 per cent

2:11 PM

Welspun Corp stock zooms 6% on order wins worth over Rs 800 crore

Welspun Corp stock price update: Welspun shares rose sharply following significant new order announcements in India & the US, with key projects including a critical oil transport venture in West Asia. READ MORE

1:58 PM

IT firm Persistent System shares slump 9% post Q4 results with flat margins

Shares of information technology company Persistent Systems slumped 8.6 per cent at Rs 3,550 on the BSE in Monday's intraday deals. READ MORE

1:44 PM

RIL Q4FY24 preview: Top metrics that analysts will watch out for today

Ahead of its Q4 results, analysts believe that Reliance Industries earnings before interest, taxes, depreciation and amortisation (EBITDA) will rise largely on better standalone performance and steady growth in digital services and organised retail. READ MORE

1:32 PM

Investment strategy alert: HDFC Bank Q4 performance and future outlook

"While the bank is taking the right steps on slowing down loan growth and shifting focus on improving net interest margin (NIM), the management has alluded that the performance in the next few quarters is likely to be volatile. That apart, HDFC Bank has avoided providing timelines or guidance of future performance," highlighted analysts at Kotak Institutional Equities. READ MORE

1:15 PM

Top investing strategies from UBS if Iran-Israel geopolitical woes flare

Going ahead, if geopolitical tensions between Iran and Israel escalate significantly, analysts believe that there will be a risk of panic selling and increased volatility across global stock markets. Moreover, the markets, especially the Indian stock market, will be keeping a close eye on the fluctuations in crude oil prices, as geopolitical events such as the Iran – Israel conflict frequently impact them. READ MORE

1:00 PM

Nifty can hit 100,000; mid, smallcaps are a real pot of gold: Vikas Khemani

If you zoom out and see the larger picture, investors can stay put in equities for long through thick and thin. Just to give you a perspective, India’s total BFSI market grew from $9 billion in 2001 to $1 trillion today, while this happened, pure banking was almost 100 per cent of capitalisation, but now 15 per cent comes from financial services, and it will change even further. READ INTERVIEW HERE

12:47 PM

Jio Fin Services zooms 4% on healthy Q4 numbers; profits rises 9%

On an annual basis, the company's consolidated net profit jumped multi-fold to Rs 1,605  crore in FY24 against Rs 31 crore in the preceding fiscal, Jio Financial Services said in a regulatory filing. READ MORE

12:29 PM

Hybrid funds see Rs 1.45 trillion inflows: Why have they become so popular?

They offer a balance between potential growth from equities and stability from debt, making them suitable for investors with moderate risk tolerance. READ MORE

12:15 PM

Ireda surges 12% on heavy volumes post strong March quarter results

Shares of Indian Renewable Energy Development Agency (IREDA) surged 12 per cent to Rs 179.45 on the BSE in Monday's intra-day trade on the back of heavy volumes after the company reported 33.3 per cent growth in profit after tax (PAT) at Rs 337.38 crore in the March quarter (Q4FY24). The nation's largest pure-play green financing non banking finance company (NBFC) had posted PAT of Rs 864.63 crore in Q4FY23. READ MORE

11:58 AM

Ladakh, Mizoram, Lakshadweep: Why are demat accounts rising in these cities

“These financial assets whether listed stocks or bonds, or even unlisted shares, require a demat account. The strong growth of the stock market combined with growing awareness, ease of investing and almost zero cost of opening a demat account through a fintech platform has been one of the key drivers for the surge in the demat tally across India,” Aggarwal said. READ MORE

11:45 AM

Bitcoin in April 2024: All you need to know about Halving event and impact

Bitcoin has gained as much as 54 per cent so far this calendar year, and has zoomed 136 since in the last 52 weeks. The present market capitalisation of Bitcoin stands at $1.28 trillion. READ MORE

11:30 AM

ALERT :: Welspun Corp bags orders worth Rs 872 crore since its last disclosure on March 22

>> Among these orders, one is for supply of Concrete Coated LSAW Pipes and Bends for a critical oil transportation project in the Middle East. The line pipes shall be used for extreme sour service application. Welspun Corp has been executing these types of extremely challenging projects, which reinforces our position as one of the top line pipe manufacturers of the world.

>> Execution of these orders will be during FY25.
 

11:15 AM

Price of this explosives stock has exploded 74% in 5 weeks; here's why

The decision to split the stock comes after the market price of Premier Explosives skyrocketed 491 per cent in the past one year as compared to 22 per cent rise in the S&P BSE Sensex. In the past four years, its price has jumped 30-fold or 2,934 per cent from a level of Rs 79. READ MORE

11:01 AM

Lupin rises over 3% after US FDA approves Mirabegron tablets

Mirabegron is used alone or together with other medicines such as solifenacin succinate, to treat the symptoms of an overactive bladder (OAB). It is also used to treat neurogenic detrusor overactivity (NDO). READ MORE

10:45 AM

ALERT :: Zydus launches Mirabegron extended-release tablets in the US

>> Zydus Lifesciences Limited announces the launch of Mirabegron Extended-Release Tablets, 25 mg in the US market

>> Mirabegron is indicated for the treatment of overactive bladder (OAB) with symptoms of urge urinary incontinence, urgency and urinary frequency. The drug will be manufactured at the group’s formulation manufacturing facility in Ahmedabad SEZ, India.