Markets end at record closing highs; Sensex tops 67,500, Nifty nears 20,000

Closing Bell on July 20: The market discovered price of Jio Financial Services as Rs 261.85 per share, much higher than estimates

3:36 PM

Sensex 30 Heatmap:: 22 Gainers v/s 8 Losers

3:35 PM

CLOSING BELL:: NSE Nifty50 rallies 146 pts to settle at 19,979

3:33 PM

CLOSING BELL:: S&P BSE benchmark hits new summit at 67,619; ends with a solid gain of 474 points at 67,572

3:25 PM

Global Check:: US, UK stock futures display a mixed trend

Source: Investing.com

3:16 PM

ALERT:: South Indian Bank Q1 net soars 75%; stock flat

South Indian Bank Q1FY24 net profit soars 75.5 per cent to Rs 202.30 crore when compared with Rs 115 crore in Q1FY22. Net Interest Income rises by 53.9 per cent YoY to Rs 807.70 crore from Rs 603.40 crore.

3:08 PM

18% GST to be charged on battery charging for EVs: Karnataka AAR

The Karnataka authority for advance rulings (AAR) has held that 18 per cent goods and services tax (GST) be imposed on charging batteries used in electric vehicles. READ MORE

3:02 PM

ALERT:: Kirloskar Pneumatic Q1 net grows 10%; stock slips over 1%

Kirloskar Pneumatic reported a 10 per cent growth in Q1FY24 net profit at Rs 17.93 crore as against Rs 16.27 crore in Q1FY22. Total income, however, declined 10 per cent YoY to Rs 242 crore.

2:52 PM

Zomato, Paytm: New-age stocks hit multi-month highs; is there more upside?

New-age companies may rise up to 29 per cent in the forthcoming seasons as market sentiment improves amid record-breaking run in benchmark indies. READ MORE

2:39 PM

ALERT:: NELCO Q1 net up 21%; stock down 2%

NELCO today posted a 21.4 per cent surge in Q1FY24 net profit at Rs 5.73 crore when compared with Rs 4.72 crore in Q1FY23. Total income, however, was down 3.4 per cent YoY at Rs 79.18 crore.

2:28 PM

Expert take on Jio Financial Services :: 'Market is discounting growth potential'

The market discovered price of Rs 261.85 per share of Jio Financial Services has come much higher than most brokerages’ estimates. This high price is a reflection of the market’s assessment of Jio Financials’ potential. The wide reach of JFSL through RIL’s other business segments like Reliance Retail has the potential to grow the company at a fast pace for many years to come. The market is discounting this potential.

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

2:19 PM

At Rs 1.5 trillion, FPI inflows to India since March 2023 highest globally

The second highest inflows were seen in Taiwan, which was less than $6 billion in the same time frame. READ MORE

2:08 PM

Coal mining bet stumbles as wary banks weigh rising risks: Official

Coal officials and banking executives in the world's second-largest coal producer discussed the issue at a June meeting called by the government in a bid to ease the funding deadlock. READ MORE

1:59 PM

Krsnaa Diagnostics slumps 15% as Rajasthan NHM cancels agreement

The National Health Mission, Rajasthan has cancelled the letter of acceptance (LoA) for providing laboratory services in the state under the free diagnostics initiative on the hub and spoke model. READ MORE

1:47 PM

Market Check:: Bank Nifty hits record high; Pvt bank shares lead

1:36 PM

ALERT:: Havells India Q1 net rises 18.5%; stock trades flat

Havells India today reported a 18.5 per cent growth in Q1 net at Rs 287.38 crore for the quarter ended June 2023 as against Rs 242.43 crore in the corresponding quarter a year ago. Total income rose by 14.3 per cent YoY at Rs 4,888.39 crore.