Sensex sheds 199 pts, Nifty below 22,050 as IT, RIL weigh; Jyoti CNC up 31%

Stock market highlights on January 16, 2024: Among sectors, the Nifty Realty index declined 1.95 per cent, the Nifty IT index 1.3 per cent, and the Nifty Pharma 1.14 per cent

2:10 PM

Indian stocks' valuation premium approaches record against Chinese peers

India - long dubbed the "next China" - has emerged as an investor favorite, aided by solid earnings and a booming consumer market. It's ascent came on the back of a sluggish Chinese market. READ MORE

1:56 PM

Jio Financial Services slips 7% post December quarter results

The company reported 56 per cent drop in its consolidated profit after tax at Rs 294 crore for the December quarter (Q3), due to fall in income and rise in expenses. READ MORE

1:44 PM

ALERT:: Sensex at day's low, down over 350 pts

1:34 PM

Asia Pacific home to most 2024 IPO debuts with India taking the lead

Most IPO debuts so far this year have been on exchanges in Asia Pacific, with India’s equity market hosting more listings than other regional peers. READ MORE

 

1:24 PM

PE, VC investments down 63% to $9 billion in 2023, lowest since 2016

Fundraising activity for funds located in India saw a 51% decline compared to a year ago and amounted to $6.6 billion in 2023. READ MORE

1:13 PM

ALERT:: Federal Bank reports highest-evet net profit of Rs 1,007 cr; stock slips 2%

Federal Bank today reported its highest-ever net profit at Rs 1,007 crore, up 25.3 per cent when compared with Rs 804 crore in the corresponding quarter a year ago. Net Interest Income rose by 8.5 per cent YoY at Rs 2,123 crore from Rs 1,957 crore. 

1:02 PM

US elections 2024: Vivek Ramaswamy drops from race, endorses Donald Trump

Donald Trump had publicly criticised the Indian-American presidential candidate ahead of the Iowa caucus and ruled Ramaswamy out as a potential running mate for the US Presidential elections. READ MORE

12:51 PM

86% Indian CEOs optimistic about country's economic growth: PwC survey

44% of global business leaders expressed a similar opinion about the economy in their countries or territories. READ MORE

 

12:33 PM

India stocks' valuation premium over China approaches record

>> MSCI India Index now at 157% premium on forward earnings

>> India stocks have gained into 2024 as China extends slide

Source: Bloomberg

12:21 PM

ALERT :: Maruti Suzuki hikes price with immediate effect

>> An estimated weighted average of increase across models stands at around 0.45%.

>> This indicative figure is calculated using Ex Showroom prices of models in Delhi and will come into effect from January 16, 2024.
 

12:11 PM

LIC at 20-mth high, nears listing day-lifetime high; up 69% from March low

The government had issued shares at Rs 949 apiece to qualified institutional buyers (QIBs) and high networth individuals (HNI). The issue price was Rs 889 for policyholders and Rs 904 for retail investors and employees. READ MORE

12:01 PM

Q3 result :: Bank of Maharashtra posts net profit of Rs 1,035.5 crore

>> PAT in Q3FY23 was Rs 775 crore

>> GNPA down to 2.04% vs 2.94% YoY and 2.19% QoQ

>> NNPA at 0.22% vs 0.47% YoY and 0.23% QoQ

11:48 AM

ALERT :: Vishnu Prakash wins order worth Rs 116.5 crore

>> FOB 12 M Wide at Barmer, Degana, Merta Road, Balotra, Nokha, Ram Devra, Jalor, Sujangarh, Didwana, Nagaur, Gotan, Ren, Marwar Bhinmal & Phalodi Stations over IR tracks to provide end to end connectivity under Amrit Bharat station Scheme over Jodhpur Division.

11:34 AM

Budget 2024: Govt may raise exemption in lower bracket under old I-T regime

The political calculations are clear. There is already a somewhat related debate between the benefits of the old and the new pension schemes and the impact on the finances of government employees. The Narendra Modi-led government is aware that the discontent from the wholesale rejig of the income tax system could add to pension issues. READ MORE

11:20 AM

Indian rupee can become a winner only if RBI loosens its grip on currency

“The Reserve Bank of India will let the rupee appreciate only gradually,” said Dhiraj Nim, economist and forex strategist at Australia & New Zealand Banking Group. “The RBI of late is allowing for a wider band, but volatility may remain contained at least relative to other currency pairs in the region.” READ MORE