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.

1:47 PM

ALERT :: Thangamayil Jewellery locked at 20% upper circuit post solid Q1 earnings

>> Net profit at Rs 58.6 crore vs Rs 19 crore YoY

>> Revenue at Rs 950 crore vs Rs 826 crore YoY

>> Ebitda at Rs 91.2 crore vs Rs 35.9 crore

>> Ebitda margin at 9.51% vs 4.34% YoY

1:37 PM

ALERT:: Canara Bank Q1 net soars 75%; stock jumps 4%

Canara Bank today posted a 74.8 per cent growth in Q1 net profit at Rs 3,535 crore for the quarter ended June 2023 when compared with Rs 2,022 crore in the corresponding quarter a year ago. Total income rose by 27.7 per cent YoY to Rs 29,823 crore from Rs 23,352 crore.

1:26 PM

PSU shares in demand: SJVN, NHPC, RVNL, RITES hit fresh lifetime highs

At 12:45 pm; the S&P BSE PSU and S&P BSE CPSE index were up 1 per cent each, as against 0.10 per cent decline in the S&P BSE Sensex. READ MORE

1:15 PM

Asian Market Update:: Nikkei gains 1%; Hang Seng slumps 2%

Source: Yahoo Finance

1:04 PM

JioBook: Reliance Jio may launch its second-generations laptop on July 31

Reliance Jio introduced its affordable laptop, named Jiobook, at the India Mobile Congress in New Delhi in October 2022. Now, the country's largest telecom operator is preparing to release the second-generation of its Android-powered laptop. READ

12:52 PM

Over half of Indian crypto investors in for long term: WazirX survey

53.2 per cent of Indians who have invested in cryptocurrency are looking for long-term returns, findings of a report released by crypto exchange WazirX on Monday showed. Women were more keen on being invested in crypto for the long term as compared to men. READ

12:43 PM

RIL, Infy, Paytm, Vedanta: Trading strategies for stocks post their Q1 nos

Shares of ICICI Bank hits a new historic peak on Monday, while Reliance Industries and Vedanta opened in gap-down following disappointing Q1 results. Infosys shares, which released its Q1 results in the last week; also witnessed disappointing opening on Friday. The 200-day moving average (DMA), a significant indicator for investors was breached, and stock failed to display any robust reversal. READ

12:29 PM

Sebi allows mutual funds to expand ESG offerings: Should you invest?

With regards to disclosure requirements for ESG schemes, Sebi said mutual funds will have to clearly disclose the name of the ESG strategy in the name of the concerned ESG fund. READ

12:15 PM

Hikal shares drop over 5% after Gujarat pollution control board rap

Shares of Hikal, a speciality chemicals company, fell more than 5 per cent on Monday following a directive from the Gujarat Pollution Control Board (GPCB) to cease operations at its Bharuch plant. READ

12:01 PM

Utkarsh SFB extends post-debut rally; zooms 125% against issue price

Utkarsh Small Finance Bank (SFB) rallied 17 per cent to hit a new high of Rs 56.30 on the BSE in Monday's intra-day trade, extending gains from its strong market debut on Friday. READ

 

11:48 AM

ICICI Bank's re-rating to be gradual, say analysts; see up to 35% upside

ICICI Bank Q1FY24 results analysis: With a solid 40 per cent year-on-year growth in net profit in the April-June quarter (Q1) of financial year 2023-24 (FY24), ICICI Bank has further cemented its place as the "best in class" bank, analysts said on Monday. READ

11:37 AM

Alibaba to stay on sidelines of Ant Group's $6 billion stock buyback

Alibaba Group Holding Ltd. has decided not to sell any part of its one-third stake in Ant Group Co. during the Chinese fintech leader’s imminent share buyback, saying it wants to maintain its slice of an important partner. READ

11:25 AM

Full list: Stocks with the maximum upgrades and downgrades in the last year

Bulk of the earnings upgrade over the past one year has been driven by stocks related to domestic cyclical demand (financials, consumer discretionary, auto, tobacco, industrials) and internet stocks. READ

11:14 AM

Q&A: Most investors expect a market correction: Naveen Kulkarni, Axis Securities

The up move in the market came to a grinding halt post Infosys' June 2023 quarter results last week. NAVEEN KULKARNI, chief investment officer at Axis Securities PMS, tells Puneet Wadhwa in an email interview that the market is ignoring serious risks that have a decent probability of materialising. READ

11:00 AM

Aarti Drugs surges 14% on firm Q1 result, approves buyback via tender route

Shares of Aarti Drugs surged 14 per cent to hit a 52-week high of Rs 583.95 on the BSE in Monday’s intra-day trade amid heavy volumes after its board approved a share buyback plan via the tender offer route. The company will buyback 665,000 equity shares at Rs 900 per share via a tender offer. READ