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

12:54 PM

Sebi imposes Rs 35 lakh fine on 7 entities for non-genuine trades

Sebi had observed large-scale reversal trades in the illiquid stock options segment on the BSE, leading to artificial volumes on the exchange. Further, the regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. READ MORE

12:41 PM

Amber, FSL, Balaji Amines: 5 smallcap stocks that can fall up to 14%

Amber Enterprises

Downside Potential: 11%

Resistance: Rs 2,915

 

Shares of Amber Enterprises have dropped by 8 per cent in the last two trading sessions so far. Presently, the stock has dipped below its 20-DMA, which stands at Rs 2,915. READ MORE

12:28 PM

ALERT :: Tata Elxsi partners with ATEME to enable fastest launch of FAST services

>> Tata Elxsi has announced a strategic alliance with Ateme, a global leader in video compression, delivery, and streaming solutions, to deliver a pre-integrated FAST (Free Ad-Supported Television) channel deployment solution.

Read more here

12:17 PM

ALERT :: Sensex stages swift recovery

12:06 PM

ALERT :: HPL Electric partners with Wirepas to accelerate smart metering roll-outs in India

>> Stock sharply off lows

Check details here

11:57 AM

ALERT :: Blue Dart rebrands 'Dart Express' to 'Bharat Dart'

11:41 AM

ALERT :: RR Kabel IPO subscribed 7% thus far

11:21 AM

Adani-Hindenburg row: Former contractor witness to how money was shifted

Agarwal, a director of EBPL Ventures, was the electrical contractor for Adani's Sarguja Rail Corridor Project. He said he would like to help the court and Sebi protect investors' larger interest. READ MORE

11:04 AM

This Ashish Kacholia-owned education stock has zoomed over 69% in 3 days

Meanwhile, the management had said during its Q1-FY24 earnings call that it expects strong growth in Q2 and the rest of the year, driven by the significant mandates received for training especially in BFSI and advanced technology programs. "We are experiencing an increased demand for deep skilling in new age skills including Artificial intelligence (AI), Digital Architect, ER&D, and Cybersecurity, among other," the management had said. READ MORE

10:49 AM

Byju's hid $533 mn in hedge fund once run from Miami IHOP, allege lenders

Byju’s last year transferred more than half a billion dollars to Camshaft Capital Fund, the investment firm founded by William C. Morton when he was just 23 years old, some Byju’s lenders claim in a lawsuit. Morton’s fund received the money despite an apparent lack of formal training in investing, according to the lenders. What’s more, luxury cars —  a 2023 Ferrari Roma, a 2020 Lamborghini Huracán EVO, and a 2014 Rolls-Royce Wraith — have been registered in Morton’s name since the transfer occurred, according to court papers. READ MORE

10:34 AM

Comment :: 'Fundamentals do not support a sustained rally'

>> Market experts have been repeatedly warning of froth in the mid-and small-cap segments. And, the fear of sharp correction in this space has finally happened with 4.10 per cent correction in the Nifty Small-cap index and 3.07 pe rcent correction in the Nifty Mid-cap index on Tuesday.

>> Even after this correction, fundamentals do not support the valuations in these segments. Therefore, more pain is likely.

>> On the other hand, high quality large-caps in banking, capital goods and IT are on stronger wicket. More selling in the broader market and buying in large-caps is likely in the near-term.
 

>> Even though the undercurrent of the market is strong, fundamentals do not support a sustained rally. Crude at $92 is a big macro concern. The market is ignoring this headwind.

Views by: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

10:19 AM

KEC Intl hits new high, gains 11% on winning orders worth Rs 1,012 cr

The stock of the flagship company of the RPG Group surpassed its previous high of Rs 699 touched on August 2. At 09:16 AM, it was quoting 7 per cent higher at Rs 711, as compared to 0.12 per cent decline in the S&P BSE Sensex. READ MORE

10:00 AM

Govt breather on IT imports: Festival cheer comes early for PC makers

The quotas and other compliance requirements would come into play from the next financial year.

 

“Imports have been going smoothly for now, and it will continue to remain so if the new registration mechanism is put in place. The move has given us some breathing space,” a PC manufacturer executive said. READ MORE

9:41 AM

Market Check :: Top losers on the BSE at this hour

9:40 AM

Market Check :: Top gainers on the BSE at this hour