Sensex zooms 690 pts, Nifty tops 21,450; broader indices gain nearly 2%

Stock market highlights on January 24, 2024: The pockets that helped the markets end higher were metals, PSU banks, pharma, and FMCG stocks

2:02 PM

South Indian, IDBI Bank gain up to 14%; hit multi-yr highs post Q3 results

IDBI Bank surged 14% to hit over five-year high of Rs 86.97; while South Indian Bank hit a fresh six-year high of Rs 33.70 on soaring 9% backed by heavy volumes. READ MORE

1:48 PM

ALERT:: Exide Industries Q3 net up 8%; stock trades flat

Exide Industries today reported a 7.7 per cent growth in Q3 net profit at Rs 240.27 crore for the quarter ended December 2023 as against Rs 223.19 crore in the year ago quarter. Total income rose 12.5 per cent YoY to Rs 3,863.26 crore.

1:34 PM

ALERT :: China to cut Reserve Requirement Ratio by 50 bps starting February 5

1:32 PM

Disinvestments slow, but govt keeps earning dividends from state-run firms

There has hardly been any disinvestment of state-run companies in Financial Year 2023-34 (FY24), but dividends from such firms more than made up for government receipts. READ MORE

1:19 PM

ALERT:: Ujjivan SFB net rises marginally to Rs 300 cr; stock dips 3%

Ujjivan Small Finance Bank today reported a 2.3 per cent growth in Q3 net profit at Rs 300.06 crore for the quarter ended December 2023 when compared with Rs 293.19 crore in the corresponding quarter a year ago. Total income was up 35.6 per cent YoY at Rs 1,655.39 crore.

1:07 PM

Market check:: Roller-coaster ride continues, Sensex up 250 pts again

12:48 PM

India business growth at four-month high in January, shows survey

India's business activity expanded at the fastest pace in four months in January on stronger demand, according to a private survey that also showed input costs rising at the quickest rate since August.
 

The findings indicate Asia's third-largest economy would continue to hold onto its title as the fastest growing major economy in the near-term at least. India will grow 6.9% in the current fiscal year, a Reuters poll showed on Wednesday. Read

12:28 PM

Sebi's new disclosure norms likely to impact few FPIs due to exemptions

Only a fifth of the foreign portfolio investors (FPIs) breaching the thresholds specified by the market regulator may be required to give the enhanced disclosure on ultimate beneficiaries owing to the exemption being provided, said sources. Read

12:15 PM

RIL, Asian Paints, Axis Bank: Key levels to watch out for post Q3 results

Equity markets have been buzzing with action, with benchmark indices and stocks on a roller-coaster ride amid the current Q3 earnings seasons so far in January.
 

Many frontline companies with the likes Reliance Industries (RIL), Hindustan Unilever (HUL), Asian Paints, UltraTech Cement, ICICI Bank, Axis Bank and CoForge reporting earnings over the last few days. Read

11:59 AM

IREDA up 31% in four days on robust Q3 results; zooms 405% over issue price

Shares of Indian Renewable Energy Development Agency (IREDA) were locked at the 5 per cent upper circuit at Rs 161.75 on the BSE on Wednesday, as of 11:07 am. This was also the stock's fresh lifetime high on a healthy business outlook. Read

11:47 AM

Religare shares gain 5% after CCI approves Burman stake buy in company

Shares of Religare Enterprises jumped 5 per cent on Wednesday after the Competition Commission of India (CCI) cleared a proposal by the Burman family to hike their stake in the financial services company.
 

Puran Associates, MB Finmart, VIC Enterprises and Milky Investment & Trading Company plan to acquire 5.27 per cent stake in Religare through open market purchases and follow it up with an open offer to buy up to 26 per cent. Read

11:31 AM

Inflation slows in New Zealand to its lowest rate since 2021, shows data

Inflation in New Zealand has slowed to its lowest rate in two and a half years, the country's official statistics agency announced on Wednesday.
 

Stats NZ revealed the latest consumers price index (CPI) data had slowed to 4.7 per cent across 2023, a significant drop from the 5.6 per cent result in the year to September 2023. Read

11:18 AM

ALERT: Sensex on the mend; up 450 pts

11:02 AM

Rupee opens on flat note against US dollar in early trade on Wednesday

The rupee opened on a flat note and appreciated 1 paisa to 83.14 against the US dollar in the morning session on Wednesday, amid a muted trend in domestic equities.
 

Forex traders said the rupee is trading with a slight negative bias amid selling pressure from foreign investors. Read

10:50 AM

Stock of this company engaged in Solar EPC biz has zoomed 117% in 7 weeks

Shares of Waaree Renewable Technologies on Wednesday were locked in the 5 per cent upper circuit for the third straight session on BSE at Rs 3,159.20. 
 

In the past three days, the stock has rallied 15 per cent after PM Narendra Modi on Monday announced the launch of Pradhanmantri Suryodaya Yojana (PSY) that aims to install rooftop solar power systems at 10 million households across the country. Read