Sensex slides 366 pts, extends losing run to 5-weeks; Nifty tests 19,250

CLOSING BELL ON AUGUST 25, 2023: The BSE benchmark has shed 2.7 per cent or 1,797 points in the last five straight weeks. HDFC Bank, Larsen & Toubro and ITC were the major laggards on Friday.

11:02 AM

TRENDS: Women prefer equity funds, invest Rs 14,347 monthly, more than men

There has been a surge in females investing in stocks, and mutual funds post the Covid-19 pandemic. According to a survey conducted by FinEdge, a leading investment management company, the number of women investors have shot up 42 per cent in the last on year, and on average, women investors are saving 5 per cent more per month for their future goals compared to men. READ

10:53 AM

Kaynes hits record high on Rs 3,750 crore MoU with Karnataka Govt

Shares Kaynes Technology zoomed 14 per cent to hit a record high of Rs 2,122.85 per share on the BSE in Friday’s intra-day trade after it signed agreement with Government of Karnataka for an investment of Rs 3,750 crore. READ

10:42 AM

Reliance Retail Ventures may sell another 8-10% stake to prepare for IPO

Reliance Retail Ventures Ltd (RRVL) may sell another 8-10 per cent of its stake to fund expansion and prepare for the initial public offering (IPO), The Economic Times (ET) reported on Friday, citing executives aware of the plan. The process is likely to happen in the next 12 to 15 months. READ

10:33 AM

Vodafone Idea rises 6% in weak market; stock surges 12% in 5 days

Shares of Vodafone Idea, the debt-laden telecom services provider, jumped 6 per cent to Rs 8.43 apiece on the BSE in Friday's intraday trade, in an otherwise weak market.

 

Including today's gains, the stock has rallied 11.5 per cent so far this week. By comparison, the benchmark S&P BSE Sensex has slipped 0.6 per cent during this period. READ

10:23 AM

These four stocks turn ex-date for share buyback; slip up to 4%

Piramal Enterprises, KRBL, FDC and IndiaMART InterMESH turned ex-date for share buyback on Friday, falling in the range of 2 per cent to 4 per cent on the BSE in intra-day deals. READ

10:13 AM

Jio Financial gains after four days of hitting 5% lower circuit

10:08 AM

EXPERT ON MARKETS | Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

>> The market is delicately poised waiting for triggers. The transient role of sentiments was evident yesterday when the market couldn’t sustain the enthusiasm triggered by the successful Chandrayaan-3 mission and its positive impact on stocks related to the mission.

 

>> The message from the Fed chief Jerome Powell tonight will be keenly watched for any clues on the future trajectory of interest rates in the US. The Fed chief is unlikely to indicate that the rate hiking cycle is coming to an end.
 

>> An unhealthy trend in the market is the sustained rise in the prices of many small-and micro-cap stocks. This is partly aided by the sustained flow of funds into the small-cap segment. Valuations in the segment are approaching risky levels. Safety is now in large-caps

10:02 AM

Shoppers Stop sinks 8% as Venugopal Nair tenders resignation as MD & CEO

The board has approved the appointment of Kavindra Mishra as executive director & CEO of the company for a period of three years. READ MORE

9:54 AM

Paytm up 4% after huge block deals; hits 18-mth high, up 77% so far in CY23

At 09:15 AM; around 22.75 million equity shares representing 3.6 per cent of total equity of Paytm changed hands through block deals on the BSE, the exchange data shows. READ MORE

9:48 AM

BEL gains on nod to install electronic warfare suite on Mi-17 V5 helicopter

The Ministry of Defence has granted 'Acceptance of Necessity' for procurement and installation of electronic warfare suite on Mi-17 V5 helicopters. The EW suite will be procured from BEL.

9:45 AM

ADF Foods gains 2%; fixes Sept 11 as record date for stock split

The company has fixed September 11 as the record date for stock split in the ratio of 5:1. 

9:41 AM

Astra Micro jumps 4% on winning Rs 158 crore worth of orders

The company got orders worth Rs 158 crore from ISRO, DRDO and DPSU for supply of satellite sub-systems, airborne radar, sub-systems of radar and EW projects.

9:38 AM

KPI Green surges 7% on receiving nod for 4 MW wind solar hybrid project

The company received commissioning certificates from Gujarat Energy Development Agency for 4.10MW wind-solar hybrid power project at Samoj site in Jambusar, Gujarat.

 

9:35 AM

Shopper's Stop tanks 9% on Venu Nair's resignation as CEO and MD

The company said that Venu Nair has resigned as Managing Director and Chief Executive Officer, effective from Sep 1, 2023, due to personal reasons and to spend more time with his family and explore other options.

He has been replaced by Kavindra Mishra, who has been promoted from his position of Chief Commercial Officer and CEO – Homestop to Executive Director & Chief Executive Officer of the company. 

9:30 AM

All sectors hold losses, barring media index