Sensex falls for 2nd day, slips 299 pts; ITC sheds 4%; auto stocks gain

CLOSING BELL ON JULY 24, 2023: The NSE Nifty ended with a loss of 73 points; Reliance down 2% was the other major laggard on Monday.

3:34 PM

Sensex Heatmap :: ITC, Tech M, Tata Steel end as top laggards on 30-pack index

3:33 PM

CLOSING BELL :: Nifty breaks below 19,700

3:32 PM

CLOSING BELL :: Sensex slips nearly 300 pts amid late sell-off

3:28 PM

Global Check:: US, UK stock futures marginally up

Source: Investing.com

3:20 PM

ALERT:: IDBI Bank Q1 net soars 62%; stock up 2%

IDBI Bank posted a 62 per cent YoY growth in Q1FY24 net profit at Rs 1,224 crore; Net Interest Margin rose by 178 bps to 5.8 per cent. 

3:09 PM

JLR volumes may aid Tata Motors Q1 margins; demand outlook eyed: Analysts

So far this calendar year (CY23), shares of Tata Motors jumped 61 per cent, as against a 9.6 per cent surge in the S&P BSE Sensex. READ MORE

2:59 PM

ITC dips 4% after board gives in-principle approval to demerge hotel biz

The Board has also approved incorporation of a wholly owned subsidiary of the company to be named ITC Hotels Limited. READ MORE

2:51 PM

ALERT:: Dwarikesh Sugar Q1 net marginally up; stock gains 2%

Dwarikesh Sugar reported a net profit of Rs 40.62 crore for the quarter ended June 2023, up 2.3 per cent when compared with Rs 39.70  crore in the quarter ended June 2022. Total income, however, declined by 11.9 per cent YoY to Rs 571.54 crore.

2:42 PM

ALERT:: Thangamayil Jewellery Q1 net soars 62%; stock hits 20% upper limit

Thangamayil Jewellery Q1 net profit jumped over three-fold in Q1FY24 to Rs 58.61 crore when compared with Rs 18.98 crore in Q1FY23. Total income was up 16.2 per cent YoY at Rs 960.10 crore.

2:31 PM

ALERT:: ITC spins-off hotel business; stock sheds 3%

The board of ITC accorded its in-principle approval to the demerger of Hotels Business under a scheme of arrangement, with the company holding a stake of about 40 per cent in the new entity and the balance shareholding of about 60 per cent to be held directly by the company's shareholders proportionate to their shareholding in the company, as per the media release.

2:19 PM

ALERT:: Poonawalla Fincorp Q1 net soars 62%; stock down 1%

Poonawalla Fincorp has reported its highest-ever quarterly net profit of Rs 200 crore, as per a filing to the BSE. 

 

Net profit was up 62 per cent YoY in Q1FY24, while net interest margin rose by 11.4 per cent.

2:18 PM

ALERT :: ITC approves demerger of hotel business

>> After due consideration, the Board accorded its in-principle approval to the demerger of Hotels Business under a scheme of arrangement, with the company holding a stake of about 40% in the new entity and the balance shareholding of about 60% to be held directly by the company’s shareholders proportionate to their shareholding in the company

>> The scheme of arrangement shall be placed for approval of the Board at its next meeting to be convened on 14th August, 2023

2:10 PM

ALERT:: BASF India Q1 net dips 43%; stock up 1%

BASF India today reported a 42.7 per cent decline in Q1 net profit at Rs 112.68 crore for the quarter ended June 2023 as against Rs 196.75 crore in the quarter ended June 2022. Total income was down 13.2 per cent YoY at Rs 3,374.65 crore.

 

1:59 PM

Higher vols may drive Bajaj Auto's Q1 revenue; margins to expand: Analysts

So far this calendar year (CY23), shares of Bajaj Auto rose 34 per cent, as against 9.6 per cent gain in the S&P BSE Sensex, during the same period. READ MORE

1:48 PM

ALERT:: Samvardhana Motherson buys German-based Dr Schneider; stock flat

The company in a filing to the exchanges said, has entered into an agreement to buy assets of the German entities of Dr. Schneider Holding GmbH and shares in the foreign subsidiaries of Dr. Schneider Holding GmbH (“Target Business/ Dr Schneider Group“) in a cash transaction.