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.

8:55 AM

Sebi working on instant settlement of stock market transactions: Buch

Sebi Chairperson Madhabi Puri Buch on Monday said the capital markets regulator is working on instant transaction settlement in the stock markets. READ HERE

 

8:51 AM

Demerger to boost ITC's cash flows, create India's 2nd biggest hotel group

The demerger will however have only a marginal negative impact on ITC overall earnings and share price given the hotel division miniscule contribution to its consolidated finances. READ

8:48 AM

Stocks in focus today: Tata Steel, RIL, Maruti, TVS Motor, HDFC AMC, JK Paper

Reliance Industries: RIL has agreed to invest alongside Brookfield Infrastructure and Digital Realty in its Indian special- purpose vehicles (SPVs) for developing data centres in India. The oil to telecom conglomerate said it would hold a 33.33 per cent stake in each of the related Indian SPVs of Brookfield  and Digital Realty and become an equal partner. The proposed investment, RIL said, was around Rs 378 crore, with a commitment for further investments of up to Rs 622 crore in form of equity and debt securities in these SPVs and any other new SPVs set up.

 

Tata Steel: The Tata Group company reported a net profit of Rs 525 crore in the first quarter of 2023-24. Its net profit was Rs 7,714 crore in the same quarter a year ago, and Rs 1,566 crore in the quarter ending March 2023. The total revenue from operations came in at Rs 59,490 crore, which is 6.3 percent lower and around 5.5 percent lower over Q3. READ

8:45 AM

After record rally this year, earnings test for the market optimism

The sharp rally in the markets this year has come on the back of price-to-earnings (P/E) expansion even as analysts have scaled back the growth projections. Sample this: In June 2022, the aggregate profit pool for top 600 companies was projected to touch Rs 13.2 trillion for the ongoing financial year 2023-24 (FY24). READ 

8:41 AM

Result review: Paytm's Q1 earnings may be a blip; analysts positive on the stock

While analysts assessed One97 Communications (Paytm) Q1FY24 results as in-line with guidance, the market was disappointed and the stock fell by around 5 per cent. Paytm reported a net loss of Rs 360 crore, but revenue grew 39 per cent year-on-year (YoY) to Rs 2,340 crore. READ

8:38 AM

Gift Nifty derivatives hits record single-day turnover of $8.5 billion

The erstwhile SGX Nifty contracts, which were being traded at the Singapore Exchange (SGX), have been transitioned to India's maiden International Financial Services Centre-GIFT City. READ

8:33 AM

GMR Smart Electricity Distribution gets Rs 7,593-cr order for meter in UP

GMR Power and Urban Infra Limited (GPUIL) on Monday said its arm GMR Smart Electricity Distribution Company has bagged a Rs 7,593-crore smart metering project in Uttar Pradesh. READ

8:29 AM

Q1 results watch: HDFC AMC's profit surges 52%; revenue rises 10%

The HDFC Asset Management Company (AMC) on Monday reported a 52 per cent year-on-year (YoY) growth in first quarter (Q1 FY 2024) profit at Rs 478 crore. In the same quarter of FY 2023, the AMC's net profit stood at Rs 314 crore.

 

Compared to the previous quarter, the profit is up 27 per cent. In Q4 FY 2023, the company had posted a net profit of Rs 376 crore. READ

8:25 AM

DIIs bought Rs 935 crore worth of shares Monday

8:16 AM

After record rally this year, earnings test for the market optimism

Sample this: In June 2022, the aggregate profit pool for the top 600 companies was projected to touch Rs. 13.2 trillion for the ongoing financial year 2023-24 (FY24). READ MORE

8:10 AM

FIIs sold equities worth Rs 90 crore on Monday, July 24

8:05 AM

Gift Nifty signals a quiet start on Tuesday

7:57 AM

UBS fined nearly $400 mn over Credit Suisse's relationship with Archegos

Archegos failed in 2021, costing Wall Street banks billions of dollars in losses, and Credit Suisse took the brunt of the losses. The Swiss bank took more than $5 billion in losses. READ MORE

7:50 AM

US Dollar index steady above 101-mark ahead of FOMC outcome

7:44 AM

Bitcoin drops below $29,000 for the first time in over a month: Report

Bitcoin dropped below $29,000 for the first time in over a month as the recent exorbitance over ETFs and a more favorable regulatory outlook eases. READ MORE