Sensex ends flat in choppy trade; Metals gain; Asian Paints dips 4%, ITC 2%

CLOSING BELL ON JULY 25, 2023: The NSE Nifty ended 8 points higher; Tata Steel and JSW Steel were the major gainers on Tuesday.

11:06 AM

WATCH :: Time to sell after the sharp run since March?

10:54 AM

ITC loses over Rs 50,000 cr m-cap in 2 days on hotel biz de-merger plan

Fast moving consumer goods (FMCG) giant ITC has lost over Rs 50,000 crore market capitalisation (m-cap) in the past two trading days as the company said that it would continue to hold 40 per cent stake in the new entity, against Street estimates of 100 per cent. READ MORE

10:44 AM

ALERT :: Ircon International wins order worth Rs 80 crore from South Eastern Railway

10:33 AM

ALERT :: IRCTC website, app face technical glitch

10:28 AM

Hotel stocks have more room for an upside; buy selectively: Analysts

The move to demerge the hotel business into a separate entity by ITC has brought back focus on hotel stocks, which have already seen a good run thus far in FY24. READ MORE

10:16 AM

ALERT :: L&T Construction wins orders for its Power Transmission & Distribution business

>> The Power Transmission & Distribution Business of Larsen & Toubro has secured new orders in India and abroad. 

>> Order win is in the category of Rs 1,000-2,500 crore

10:08 AM

Buzzing stock :: Can Fin Homes sees a sudden fall in price

9:58 AM

ALERT :: FCI suspends supplies of Surplus Rice for production of ethanol to Globus Spirits

Company says:

>> We expect this supply disruption to be temporary one. During the period, the company is shifting its feedstock from Surplus Rice to alternative raw materials such has broken rice and maize.

>> These raw materials can be used for production of ENA and Ethanol. During this change over process we expect 7-10 days of disruptions at part of WB capacity and our Jharkhand facility.

>> In this period, the alternative raw material supplies are expected to be begin. Our Haryana, Rajasthan and Bihar facilities remain operational as normal. 

9:55 AM

Cement stocks in demand; Sanghi, India Cement rally 3%

9:49 AM

Comment :: 'FPI trends show buying exhaustion'

FPI flows have slowed down. In the last two days FPIs have sold stocks worth Rs 2081 crores indicating buying exhaustion. This is normal response to the rising dollar index which has moved up to 101.4 from the recent low of 99. Even though Nifty is showing signs of resilience, it is unlikely to race to 20,000 level in the next few days, given the rising dollar and declining FPI inflows. Brent crude spiking to $82 will be another drag on the market.

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

 

9:44 AM

Metal stocks shine as China mulls 'favourable policies' for property sector

9:42 AM

L&T Q1 preview: Buyback, special dividend and other things to know

Brokerages estimate earnings before interest, tax, depreciation, and amortisation (Ebitda) margins to expand up to 29 basis points (bps) YoY to 11.3 per cent in Q1FY24. However, margins are expected to contract up to 38 bps quarter-on-quarter (QoQ) from 11.7 per cent in Q4FY23, analysts added. READ MORE

9:39 AM

Tata Motors hits record high ahead of Q1FY24 results today

Tata Motors consolidated revenue is likely to jump up to 42 per cent year-on-year (YoY) to Rs 1.02 trillion in the April-June quarter of fiscal year 2023-24 (Q1FY24), said analysts. READ MORE

9:37 AM

SJVN surges 9% on order win from Arunachal Pradesh govt

The Government of Arunachal Pradesh has allotted five projects totalling 5,097 MW to the company. The projects allocated are 3,097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MW Amulin and 400 MW Mihumdon. All the five projects are located in Dibang Basin, which will result in optimal resource utilisation and timely completion of projects, the company said. The development of these projects will involve an investment of more than Rs 50,000 crore.

9:34 AM

JK Paper zooms over 6% on turnaround in Q1

The paper maker recorded a turnover of Rs 1,663.97 crore (up 10 percent), EBITDA of Rs. 532.03 crore (up 16 percent) and profit after tax of Rs 308.67 crore (up 18 percent) on consolidated basis for the quarter ended June 2023 as compared to corresponding quarter of the previous financial year. The results have improved due to the acquisition of corrugation business last year and better performance by Sirpur Paper Mills with increased volume and higher sales realisation.