Sensex soars 556 pts, Nifty tops 19,400; Metal index rallies 3%, Auto 2%

Closing Bell on September 1, 2023: In the broader markets, the BSE MidCap and SmallCap indices added 0.75 per cent each

3:16 PM

August Sales Data | TVS Motor Company registers sales growth of 4% YoY

Two-Wheeler

Total two-wheelers registered a growth of 5% with sales increasing from 315,539 units in August 2022 to 332,110 units in August 2023

Electric Vehicles

TVS iQube Electric recorded the highest sales of 23,887 units in August 2023 as against sales of 4,418 units in August 2022.

International Business

The Company's total exports registered sales of 87,515 units in August 2023 as against 93,111 units August 2022

Three-Wheeler

Three-wheeler of the Company registered sales of 13,738 units in August 2023 as against 18,248 units August 2022. 

3:00 PM

Aug auto sales: Maruti scales new high; M&M m-cap nears Rs 2 trillion

Maruti Suzuki (up 4% at Rs 10,390) and M&M (up 2% at Rs 1,604.55) hit their respective new highs, and rallied up to 9% in the past five days as compared to a less than 1% rise in the S&P BSE Sensex. READ

2:43 PM

GST collection grows 11% YoY to around Rs 1.6 trillion in August: Govt

The GST revenues for August 2023 have shown a growth of 11 per cent year on year due to increased compliance and less evasion, Revenue secretary Sanjay Malhotra said on Friday. The collection from Goods and Services Tax (GST) was Rs 1,43,612 crore in August 2022. "Roughly numbers are in the range of 11 per cent year on year growth as in earlier months," Malhotra told reporters. READ

2:32 PM

Market breadth firmly positive in firm trade

2:21 PM

Maruti Suzuki reports highest ever monthly sales of 189,082 units in August

Maruti Suzuki India on Friday reported its highest-ever monthly wholesales at 1,89,082 units in August. The auto major's dispatches to dealers last month were 14 per cent higher as compared to 1,65,173 units in August.

Total domestic passenger vehicle sales were at 1,56,114 units as against 1,34,166 units in the year-ago month, a growth of 16 per cent, Maruti Suzuki India (MSI) said in a statement. READ

2:07 PM

Eicher Motor unveils 2023 Royal Enfield Bullet starting at Rs 1,73,562

2023 Royal Enfield Bullet "Military Red" and "Military Black" versions are priced at Rs 1,73,562. The "Standard Maroon" and "Standard Black" go up to Rs 1,97,436, and the "Black Gold" scheme retails at Rs 2,15,801. READ

1:55 PM

MARKET CHECK: Sensex surges 500 pts to day's high

1:46 PM

India sees record demand for rooftop solar as companies seek clean energy

India is seeing record demand for rooftop solar as companies seek to add clean energy to meet climate goals amid falling panel prices.

 

Companies are on pace to install 4 gigawatts of panels on top of buildings in this financial year ending March 31, nearly doubling the previous record, according to a new report from the Institute for Energy Economics and Financial Analysis and JMK Research and Analytics. READ

1:35 PM

M&M Ltd August auto sales: SUV sales up 26%, overall growth 19% YoY

Mahindra & Mahindra Ltd (M&M Ltd) monthly sales for SUVs stood at 37,270 vehicles for August 2023, making it the month with the highest number of SUVs sold in the domestic market. Including exports, the car manufacturer sold a total of 38,164 vehicles. Together (domestic and export) sales marked a 26 per cent growth compared to the same period last year. READ

1:24 PM

MTAR Tech surges 23% in 2 days on receiving Defence Industrial Licence

In the past two days, the stock of the aerospace & defense company has rallied 23 per cent after the company received the Defence Industrial Licence for production of various mechanical and electronic subsystems in the defence sector. READ

1:13 PM

Moody's ups GDP projection to 6.7% for CY2023 on robust economic momentum

Moody's said since the second quarter outperformance creates a high base in 2023, "we have lowered our 2024 growth forecast from 6.5 per cent to 6.1 per cent". READ

1:00 PM

Torrent Pharma gears up to buyout Cipla promoters, approach PE funding

Torrent Pharma might pay a total of Rs 60,000 crore (around $7.2 billion) for a 59.47 per cent stake in the 88-year-old pharmaceutical company. READ

12:45 PM

ONGC, Oil India rally up to 6% after government hikes natural gas price

Shares of state-owned oil exploration & production companies, Oil and Natural Gas Corporation (ONGC) and Oil India surged up to 6 per cent on the BSE in Friday’s intra-day trade after the government hiked price of domestic natural gas to $8.6 per metric million British thermal units (MMBtu). The new price, scheduled to take effect from September 1, marks an increase from the current price of $7.85 mBtu. READ

12:36 PM

Firstsource zooms 4% on Ritesh Mohan Idnani's appointment as CEO

Firstsource appoints Ritesh Mohan Idnani as MD & CEO effective September 1, current MD & CEO Vipul Khanna resigns effective August 31

12:28 PM

Nazara Tech off highs amid reports Nikhil Kamath may raise stake in co

Zerodha founder Nikhil Kamath is looking to increase his stake in Nazara Technologies from 1 per cent to 3.5 per cent, reported CNBC TV-18.