Stock Market Highlights, July 9: Sensex rises 391 pts, Nifty holds 24,400; Maruti leaps 6%, ITC 2%

Stock Market Highlights on July 09, 2024: The benchmarks Nifty, and Sensex indices hit record highs in intraday trade

2:09 PM

Capital gains tax on sale of shares: Calculation, treatment, budget expectation

Long term capital gains (LTCG) tax on the sale of these asset classes stocks, mutual funds, real estate etc. is levied when the holding period of the asset is over one year. READ MORE

1:57 PM

GM Breweries stock price zooms over 4% on strong June quarter results

At 1:15 PM, the shares were off highs and were trading 1.60 per cent higher at Rs 921.55. In comparison, BSE Sensex was trading near record levels, up 0.49 per cent at 80,355.87 levels. READ MORE

1:46 PM

Tea stocks rally up to 16% on rising price; Bombay Burmah hits new peak

According to a Reuters report, tea prices have been soaring and are expected to stay high as heatwaves and floods during the peak harvesting season slash output in key producing regions. READ MORE

1:34 PM

Yes Bank denies report on 51% stake sale, calls it 'factually incorrect'

Private lender Yes Bank on Tuesday refuted a news report that claimed the Reserve Bank of India (RBI) has approved for the sale of a 51 per cent stake in the bank. READ MORE

1:22 PM

Maruti Suzuki zooms 6%, sees sharpest intra-day gain in 2 yrs; details here

The UP govt move to waive registration fee on hybrid cars led to substantial decline in on-road price of strong hybrids in the state to the tune of around 10% and is expected to accerlerte sales. READ MORE

1:11 PM

ALERT:: Nifty hits fresh record high at 24,419.70

1:03 PM

Govt bond yields marginally lower; US Fed chief Powell's speech eyed

Powell's testimony before the Senate on Tuesday and the House on Wednesday could give investors more clues on the likely direction of rates. READ MORE

12:51 PM

HG Infra stock price up 7% on inking MoU with Ultra Vibrant Solar Energy

The uptick in the stock price came after the company announced that it has signed a Memorandum of Understanding (MoU) with Ultra Vibrant Solar Energy. READ MORE

12:39 PM

KEC, RBL Bank, Redington: 5 smallcap stocks with warning signs on charts

Among the key momentum oscillators - the MACD and Slow Stochastic are showing negative divergence on these smallcap stocks; hence caution is advised at these counters. READ MORE

12:33 PM

ALERT :: Sebi appointed panel likely recommends increasing lot size of derivative contracts

12:26 PM

TCS Q1 Preview: Margin pressure to weigh; may see 6-9% rise in profit

Tata Consultancy Services (TCS) is expected to register a single-digit growth in revenue and profit for the April-June quarter of fiscal year 2024-25 (Q1FY25), as compared to the same quarter in the year ago period due to a recovery in the flow business and willingness of clients to resume discretionary spending, however, wage hikes will negatively impact its margins, brokerages said. Read more

12:15 PM

Public sector banks on a roll: IOB, Central Bank zoom up to 9% on July 9

PSU bank stocks rising, Tuesday, July 9: Public sector bank (PSB) shares were among top gainers in the mid-cap space on Tuesday. The Nifty PSU Bank index gained 2 per cent to touch 7,388 level in the intraday trade on the National Stock Exchange (NSE).

With this, the Nifty PSU Bank index was trading as the top sectoral gainer on the NSE at 11:30 AM as against 0.28 per cent rise in the benchmark Nifty50 index. Read more

11:57 AM

RateGain signs multi-year contract with Malaysia Airlines; stock up 6%

RateGain Travel stock surges: Shares of RateGain Travel Technologies (RateGain) soared as much as 6.26 per cent to hit an intraday high of Rs 834 per share on Tuesday.

The upward movement in the stock came after RateGain announced that it has been selected for a multi-year partnership by Malaysia Airlines Berhad (Malaysia Airlines). Read more

11:37 AM

Pitti Engineering hits 52-week high on robust FY24 profits, up 55% YoY

Shares of Pitti Engineering surged up to 4.3 per cent, hitting its 52-week high at Rs 1,205.75 per share on the BSE in Tuesday’s intraday trade. The stock price soared after the company on Monday delivered its financial performance for fiscal year 2023-24 (FY24).

The company’s revenue from operations soared to Rs 120.1 crore in FY24, rising by 9 per cent from Rs 110 crore in FY23. The company’s profit after tax also surged by 55 per cent to Rs 9 crore during the fiscal under review from Rs 5.8 crore in the previous fiscal. Read more

11:23 AM

Budget 2024: 7 key demands listed by govt employees' union for Centre

Union Budget 2024: Ahead of the Union Budget 2024-2025, the Confederation of Central Govt Employees and Workers has sent a proposal to the Centre putting forth their seven key demands, including the restoration of the Old Pension Scheme (OPS).

In a letter sent to the Cabinet Secretary on July 6, the govt employees’ union demanded the constitution of the 8th Pay Commission, restoration of the OPS, release of the 18-month dearness allowance and relief which was frozen during the Covid-19 pandemic to employees and pensioners among other things. Read more