Sensex soars 359pts, Nifty tops 21,250 amid broad buying; Inox India up 41%

Closing Bell on Thursday December 21: In the broader markets, the BSE MidCap and SmallCap indices outpaced frontline indices as they climbed 1.6 per cent and 1.69 per cent, respectively

1:43 PM

ALERT:: Airtel inks pact to power-up 20 mn smart meters; stock up 0.5%

Bharti Airtel today announced its foray into high end applications such as Advance metering infrastructure and meter data management systems along with Cloud and Analytics. 

 

The company in an exchange filing said it has formed a strategic partnership to power up to 20 million smart meters with IntelliSmart Infrastructure Private

Limited. 

1:29 PM

ALERT:: Venus Remedies wins marketing rights for Docetaxel in Israel; stock soars 5%

Venus Remedies in an exchange filing said the company has secured marketing authorisations for three variants of Docetaxel in Israel and Cytarabjne 100MG in Colombia. 

1:12 PM

Analysts bet on IndiGo, SpiceJet on sustained pax growth, low oil prices

Airline stocks have been soaring high as a steep decline in crude oil price, along with steady passenger traffic, has turned analysts positive on InterGlobe Aviation and SpiceJet. READ MORE

12:57 PM

Market Check: Sensex jumps 900 pts from day's low of 69,920

12:49 PM

Tata Motors expects best sales in 2024 on back of fresh portfolio

Tata Motors expects 2024 will be its best year for sales, said the automaker's managing director Shailesh Chandra in a report by the Economic Times (ET). India's third-largest passenger vehicle maker is optimistic on the back of upcoming launches in both electric and conventional powertrains. Read

12:31 PM

Lokesh Machines soars 14% on healthy outlook; up 264% so far in 2023

Shares of Lokesh Machines (LML) surged 14 per cent on Thursday to a fresh high of Rs 383.50 on the BSE on the back of a healthy outlook. So far in calendar year 2023, the stock has zoomed 264 per cent as compared to a 15.3 per cent rise in the BSE Sensex. Read

12:16 PM

Suzlon Energy soars 4% on winning wind power project of 193 MW

Suzlon secures a 193.2 MW of wind power project from The KP Group in Gujarat.

To supply 92 wind turbines with a rated capacity of 2.1 MW each. 

11:57 AM

Ashok Leyland wins order to supply 552 buses to Tamil Nadu transport corpn

Ashok Leyland, the country’s leading commercial vehicle manufacturer, said on Thursday it has won an order from the Tamil Nadu government for providing 552 Ultra-Low Entry (ULE) diesel non-AC buses.
 

Ashok Leyland, the Indian flagship company of the Hinduja Group, said the Tamil Nadu State Transport Corporation (TNSTC) already operates 18,477 of its buses. The new order marks a "groundbreaking collaboration" between Ashok Leyland and TNSTC in the pursuit of 'Mobility for All', the state government's commitment to promote public transportation, said a press statement. Read

11:42 AM

Piramal Enterprises to adjust Rs 3,164 cr exposure to AIF in its financials

In line with Reserve Bank of India (RBI) directives, Piramal Enterprises has decided to adjust Rs 3,164 crore worth of exposure in Alternative Investment Funds (AIFs) in its financial statements through capital funds or provisions. Read

11:29 AM

Nifty, MidCap, SmallCap: Should you buy the dip? Here's what charts say

The NSE Nifty50 index tanked as much as 2.9 per cent from its new summit at 21,593 hit on Wednesday, to a low of 20,977 this morning. Prior to this, the Nifty had rallied over 14 per cent in the last two months. Hence, some profit-taking following the smart gains seemed warranted. Read

11:16 AM

Stock of this wind energy solutions provider has zoomed 108% in 7 weeks

Shares of Inox Wind (IWL) surged 5 per cent to Rs 444.20 on the BSE in Thursday’s intra-day trade, extending its past one and half month rally amid hopes of improvement in its operating performance.  
 

In the past seven weeks, the market price of IWL has more than doubled or zoomed 108 per cent from a level of Rs 213.70 on November 2. Read

10:59 AM

VIEW: Use market dip to buy large caps

At high valuations, the market is vulnerable to sharp corrections and this happened yesterday. Two trends are important: one, the correction in mid and small caps is almost double the correction in large caps;

two, DIIs turned big buyers towards the end of the trading day. The vulnerability of the mid and small caps to correction remains since the valuations are excessive.

Large caps will witness buying on declines. Investors can wait for the market to stabilise and buy high quality large cap stocks on declines. 

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

10:46 AM

Fresh Covid scare: India records 358 new cases, active caseload rises to 2,669

India recorded a single-day rise of 358 new Covid-19 infections while the active caseload rose to 2,669, according to Union health ministry data updated on Thursday. The surge in cases comes amid a rise in Covid sub-variant JN.1, which was first detected in Kerala. Read

10:30 AM

INOX India makes bumper debut; lists at 44% premium over issue price

INOX India (INOX), the largest domestic supplier of cryogenic equipment, made a strong stock market debut on Thursday with its shares listing at Rs 949.65 on the NSE, a premium over 44 per cent over the issue price of Rs 660. Read

10:15 AM

Indian Bank extends slide to 2nd day; slips 8% after listing of QIP shares

Shares of Indian Bank slipped 8 per cent to Rs 393.55 on the BSE in Thursday’s intra-day trade after 101.5 million equity shares of the company, allotted to qualified institutional buyers (QIBs), got listed on the stock exchanges today. Read