Stock market highlights, April 2: Sensex slips 111 pts, Nifty holds 22,450; broader indices rise over 1%

Stock market highlights on Tuesday, April 02: Among sectors, the Nifty Realty index hit a 16-year high intraday before closing 0.8 per cent higher. The Nifty Metal index, too, added 1.36 per cent

1:53 PM

ALERT:: Mankind Pharma okays slump sale of OTC biz; stock jumps over 2%

Mankind Pharma board today approved the slump sale of the OTC Business of the company giving authority to directors/ officers of the company to enter into the Business Transfer Agreement and other related documents to give effect to the transaction. 

 

As per an exchange filing, the OTC business did revenue of Rs 704 crore (8.7 per cent of the total company's revenue) in FY23.

1:42 PM

Natural disasters cause $65bn loss in APAC in 2023; 91% loss uninsured: Aon

As per the report, 398 natural disaster events occurred globally in 2023, resulting in an economic loss of $380 billion in the year. READ MORE

1:31 PM

Sectoral trends :: Realty, metal stocks hold gains

1:22 PM

Patanjali misleading ads case: Ramdev tenders apology in Supreme Court

Both Ramdev and Patanjali Ayurved's managing director Acharya Balkrishna appeared in person, as directed by the Supreme Court. The company tendered an 'unconditional apology' for breaching the court's order. READ MORE

1:11 PM

Tata Technologies surges 7% on JV with BMW to develop automotive software

The purpose of this joint venture is to create an automotive software and IT development hub in India. The agreement between the two companies entails setting up operations in Pune, Bengaluru, and Chennai, as detailed in a joint statement released by both parties. READ MORE

12:57 PM

Bajaj Auto hits new peak on strong March sales; stock nears buyback price

The company's total sales increased 25 per cent year-on-year (Y-o-Y) in March 2024 to 365,904 units compared to 291,567 units in the corresponding month of last year. Domestic sales grew 18 per cent Y-o-Y at 220,393 units, while exports sales jumped 39 per cent to 145,511 units over the same month previous year. READ MORE

12:46 PM

ALERT :: Sterlite Tech has been awarded orders worth Rs 900 crore in FY24

12:32 PM

ALERT :: Irdai mandates issuance of insurance policies in electronic form w.e.f April 1, 2024

>> CAMS Insurance Repository Services Limited, one of the wholly-owned subsidiaries of the company, is an IRDAI registered Insurance Repository and is facilitating the issuance of policies in the electronic mode.

12:16 PM

BDL, Bharat Forge: How to trade defence related stocks?

Bharat Dynamics

Upside Potential: 10.5%

Support: Rs 1,640
 

Bharat Dynamics has consolidated in a broad range of Rs 1,600 - Rs 1,900 since the start of the calendar year 2024. In the process, the stock has consistently found support around its 20-WMA (Weekly Moving Average), which presently stands at Rs 1,640. READ MORE

12:00 PM

ALERT :: Choice International-arm wins project worth Rs 520 crore

>> The company's wholly-owned subsidiary, Choice Consultancy Services Private Limited, has secured a project for the development of a solar plant for Jodhpur Vidyut Vitran Nigam Ltd in Joint Venture with Solar91 Cleantech Pvt Ltd worth Rs 520 crore.

>> The initiative entails setting up a 34.72 MW (AC) solar plant during an implementation period of 12 months, with a 25-year operation and maintenance period.
 

11:47 AM

ALERT :: Aeroflex Industries to acquire 100% stake in Hyd-Air Engineering Private Limited

>> Cost of acquisition: Rs 17.21 crore

>> Indicative time period for completion of the acquisition: Within 60 Days from the date of execution of Share Purchase Agreement

Details here

11:32 AM

Real-estate firm Sobha Ltd gets Rs 46 cr income tax demand notices

Realty firm Sobha Ltd has received demand notices of nearly Rs 46 crore from Income Tax Department.

The notices were issued by Deputy Commissioner of Income Tax, Central Circle- 1(4), Bengaluru. The notices are related to Assessment Year ( AY) 2016-17 and 2022-23. Read more

11:16 AM

Oil gains on expectations for higher demand as Middle East concerns rise

Oil prices rose on Tuesday, underpinned by signs that demand may improve China and the U.S., the world's biggest oil consuming nations, and growing concerns of a widening conflict in the Middle East that could affect supply from region.

Brent futures for June delivery rose 41 cents to $87.83 a barrel by 0440 GMT. U.S. West Texas Intermediate (WTI) crude futures for May rose 41 cents to $84.12 a barrel, after reaching its highest close since Oct. 27 in the previous session. Read more

11:10 AM

16-yr high: At 59.1 in March, India's manufacturing PMI highest since 2008

India's manufacturing sector has achieved a significant milestone, with the HSBC India Manufacturing PMI reaching 59.1 in March, marking its highest level in 16 years. This surge in performance signals strong growth, with production and sales expanding at their fastest rates since October 2020. According to the report, India witnessed a near-record increase in input stocks.

February had recorded a PMI of 56.9, the fastest pace in five months. In January, the PMI had been 56.5. The manufacturing PMI has remained above the crucial 50-mark, indicating growth rather than contraction, for 33 consecutive months. Read more

11:01 AM

BMW, Tata Technologies to form JV for developing automotive software

German automotive major BMW Group and Tata Technologies, a global product engineering and digital services firm, on Tuesday, said they will form a joint venture to set up an automotive software and IT development hub in India.

The two firms have signed an agreement to form a joint venture (JV) with the aim to establish an automotive software and IT development hub in Pune, Bengaluru, and Chennai, a joint statement by the companies said. Read more