Sensex rises 246 pts, Nifty holds 20,050 in broad rally; PSB index zooms 4%

Closing Bell on September 13, 2023:The gains were led by Bharti Airtel (up 2.7 per cent), Titan, Axis Bank, SBI, IndusInd Bank, Power Grid, NTPC, Tata Motors, Ultratech Cement, and Bajaj Finance

3:38 PM

CLOSING BELL :: Nifty holds 20,050

3:37 PM

CLOSING BELL :: Sensex gains over 200 pts despite weak global mood

3:30 PM

ALERT :: RIL stock up 0.5%

3:27 PM

ALERT :: Adani Group in focus

3:15 PM

Allcargo's Gati expects 1820% increase in festive season demand this year

The company will help SMEs in those regions build more geographically diversified markets during the festive season, Gati Express and Supply Chain Pvt Ltd (GESCPL) said.
 

"We are fully prepared with our enhanced delivery capabilities to meet the festive demand surge and uptick in the order volume. We expect an 1820 per cent increase in festive demand this year," said Rajesh Gowrinath, senior Vice President for sales at Gati Ltd. READ MORE
 

3:02 PM

FDs should not be used for wealth creation: What investors should do instead

Fixed deposits won't make you rich. There's no doubt that they are a safe investment, but bank FDs can actually negatively affect your savings in the long term. READ MORE

2:48 PM

IOL Chemicals hits 17-month high, zooms 19% on heavy volumes

Till 01:49 PM, a combined 9.3 million equity shares, representing 15.85 per cent of total equity of IOL Chemicals, had changed hands on the NSE and BSE. READ MORE

2:36 PM

Sugar output in Maharashtra set to fall to lowest in 4 years after dry Aug

The reduced output could add to food inflation and discourage New Delhi from allowing sugar exports, supporting global prices which are already near their highest in more than a decade. READ MORE

2:24 PM

Sector Alert:: Nifty PSU Bank soars 3.5%, hits new 52-week high

PNB soared 7%; Central BAnk, IOB and PSB other major gainers

2:10 PM

RR Kabel IPO off to slow start on Day 1; Should you subscribe?

The company plans to raise up to Rs 1.964 crore from its maiden share sale in the price band of Rs 983 - Rs 1,035. Offer closes on Friday. READ MORE

1:57 PM

Asian Market Update:: A mixed trend seen

Source: Yahoo Finance

1:43 PM

Rupee bond curve steepens as RBI changes rules for bank investing

The revised rules require the Reserve Bank of India’s approval for any change in classification of bond holdings out of the held-to-maturity book. This reduces volume in bond-market trading, making it harder to sell longer tenor debt in the secondary market and boosting demand for shorter bonds, according to traders. READ MORE

1:30 PM

Cipla on the block: Who's a better fit and what it means for shareholders?

The two pharma majors are reported to be eyeing the entire 33.47 per cent promoter stake in Cipla, held by the Hamied family. A successful buyout will further trigger an open offer of 26 per cent. At the CMP, the deal is pegged at around $7 billion.

 

While both companies are in a position to pull off the deal via a combination of equity infusion (by promoters, PE funds ) and debt accretion, analysts believe Torrent pips DRL given its strong track record of past acquisitions and the complementary nature of its portfolio to that of Cipla. READ MORE

1:21 PM

ALERT :: Aeroflex leaps 5% amid report of foray into aerospace

>> According to a Reuters report,  India's Aeroflex Industries, whose metal hoses are used in utilities, refineries and fire fighting equipment, is in talks to enter the aerospace sector, a top company executive said, aiming to capitalise on the country's burgeoning space program.

1:05 PM

GMR Power wins new contract for smart meters; stock hits 10% upper limit

In an exchange filing, GMR Power said its subsidiary GMR Smart Electricity Distribution Private Limited (GSEDPL) has received LOA from Dakshinanchal Vidyut Vitran Nigam Limited to implement smart metering project in the Dakshinanchal (Agra, and Aligarh zone) area of Uttar Pradesh. READ MORE