Mid, SmallCap indices sink up to 4% ahead of CPI inflation; benchmarks flat

Closing Bell on September 12, 2023: Among sectors, the Nifty Media index declined nearly 4 per cent, the Nifty Metal index nearly 3 per cent, and the Nifty PSU Bank and Auto indices up to 2.5 per cent

12:07 PM

ALERT:: Gadkari to propose addtl 10% tax on diesel vehicles; Tata Motors, M&M slip

Roadways Transport and Highways minister Nitin Gadkari to propose 10% addtional pollution tax on diesel vehicles. READ MORE

11:59 AM

Stock Alert:: ICICI Bank up 1%; RBI okays Sandeep Bakshi's reappointment

ICICI Bank: RBI has approved reappointment of Sandeep Bakshi as MD and CEO for a period of 3 years till October 03, 2026.

11:47 AM

Stock Alert:: TVS Supply Chain Q1 net loss widens; stock tanks 4%

TVS Supply Chain Solutions: The company posted a consolidated net loss of Rs 65.3 crore for Q1FY24, as against a net loss of Rs 1.8 crore in Q1FY23. Total revenue declined 12.4 per cent YoY from Rs 2,675.50 crore to Rs 2,342.4 crore.

11:33 AM

Bank of India up 3% on heavy volumes; nears 52-week high on healthy outlook

Going ahead, bank targets advance growth of 11- 12 per cent in FY24-25E with continued focus on retail/ MSME segment. READ MORE

11:19 AM

Tata Group needs to find substantial growth, ward off Ambani's Reliance

Tata Consumer Products Ltd., the owner of the Tetley tea brand, was uncomfortable with Haldiram's $10 billion valuation. READ MORE

11:08 AM

India imposes anti-dumping duty on some Chinese steel for 5 years

India on Monday imposed an anti-dumping duty on some Chinese steel for five years, according to a government notification. READ MORE

10:54 AM

Stock Alert:: Lupin up 1% in volatile trade on biz realignment plan

Lupin plans to ink a business transfer agreement with its arm - Lupin Manufacturing Solutions, to carve out two Active Pharmaceutical Ingredients (‘API’) manufacturing sites at Dabhasa and Visakhapatnam and select R&D operations, including fermentation, at Lupin Research Park, Pune. The company expects around Rs 750 – Rs 800 crore the slump sale.

10:42 AM

Nifty at 21,000 by Diwali? It's possible, say technical analysts

Thus far in calendar year 2023 (CY23), the S&P BSE Sensex and the Nifty 50 have seen a good run with both the indices surging nearly 10 per cent during this period. READ MORE

10:34 AM

COMMENT:: Market like to consolidate around present levels

"Optimism regarding India’s growth prospects in a low-growth world and a fast decelerating China has triggered this rally enabling the Nifty to cross the psychological 20000 mark. FIIs, too, have joined the party with a buy figure of Rs 1473 crore after five days of continuous selling in the cash market. The fact that FIIs have made this purchase when the US 10-year yield is at 4.29 percent indicates that the FOMO (Fear Of Missing Out) factor is driving their decision.

The participation of the fairly valued large banking stocks and RIL make this rally healthy even when the overall market valuation is turning expensive. Investors should avoid the frothy segments of the mid-and small-caps. In the near-term the market is likely to consolidate around the present levels."

 

-  Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

10:24 AM

ALERT:: Broader indices crack up to 3%; India VIX jumps 3.5%

10:14 AM

Sector check:: BSE Metal index down 1%; stocks decline up to 3%

10:07 AM

COMMENT on Nifty @ 20K:: Shantanu Bhargava, MD, Head of Discretionary Investment Services, Waterfield Advisors

"In times like these, as an investor, one must take a step back and evaluate their intended decisions through the lens of "investing" versus "speculating". Never speculate with core capital. Recognising speculation from investment can be crucial to investing success in these situations. Finally, all performance-chasing - selling a fund that has trailed over the last three years to pick up one that has outperformed - is speculating rather than investing. It's time to be disciplined and stick to your plan."

10:02 AM

L&T turns ex-date for buyback; zooms 4% on raising buyback price to Rs 3200

The company has revised the buyback price upwards from Rs 3,000 per share to Rs 3,200 per share. READ MORE

9:56 AM

Market check:: Nifty down nearly 200 pts from new summit

9:54 AM

Market check:: Sensex slips into red, down over 500 pts from record high