Sensex snaps 3-day losing run, gains 261 pts in broad-based rally

Closing Bell on Tuesday, October 17, 2023: On the National Stock Exchange (NSE), the Nifty50 shut shop 80 points, or 0.40 per cent, higher at 19,812.

12:27 PM

Government to exit Hindustan Zinc Ltd, but over an extended period

The Indian government is gearing up to sell its remaining stake in Hindustan Zinc Ltd (HZL), a subsidiary of Vedanta, in smaller tranches over an extended period, aiming to maximise its value, according to a report by the Financial Express. READ

12:10 PM

Stock of this garments & apparels company zoomed over 100% in 2 months

PGIL maintains a confident outlook on the continued growth and traction of Indian exports in the medium to long term. READ

11:57 AM

HDFC Bank Q2 puts levers in place to undo stock underperformance: Analysts

HDFC Bank stock: HDFC Bank has made a good beginning after the merger, and given a huge pace of capacity building, we believe that there are levers in place to sustain this momentum in business growth. READ

11:45 AM

Ambani's youngest son, Anant, faces proxy firms' pushback on board seat

"A vote against this resolution is warranted as Anant Ambani's limited leadership/board experience of around six years, raises concerns on his potential contribution to the board," ISS said. READ

11:30 AM

Jio Financial set to launch suite of loan products to expand footprint

JFS plans to launch auto, home loans and other products, as the billionaire Mukesh Ambani-backed company seeks to establish itself as a full-service financial services firm in a rapidly growing market. READ

11:18 AM

ION Exchange extends rally; zooms 127% so far in 2023 on strong outlook

In past four months, the stock price of ION Exchange has appreciated by 53 per cent after it turned ex-date for sub-division / stock split in the ratio of 10:1. READ

11:07 AM

Ajmera Realty bags residential re-development project, stock up 4%

Ajmera Realty has bagged a residential re-development project in Versova, Mumbai, with estimated sales of Rs 360 crore. 

10:54 AM

Rs 10 trn investment, over 300 MoUs on cards during Maritime Summit

Sonowal said that this is the 3rd edition of the Global Maritime India Summit 2023 before this it was also organized in 2016 and 2021. READ

10:40 AM

Chart: How to reach Rs 1 cr in savings with Rs 10,000 monthly investment

A Rs 30,000 monthly investment at 12 per cent annual returns will roughly take around 12 years to reach your first Rs 1 crore and 20 years to reach Rs 3 crore. READ

10:29 AM

ALERT: Maruti to issue shares worth Rs 12,841 crore to SMC for its Gujarat unit acquisition

The company will issue 1.23 crore preferntial shares to Suzuki Motor Corporation (SMC) at Rs 10,420.85 apiece to acquire Suzuki Motor Gujarat (SMG). 

10:17 AM

Tyre stocks in demand on Ceat's strong Q2 results; MRF, JK Tyre at new high

Ceat said the healthy quarter-on-quarter volume growth was driven by strong OEM demand for festive inventory. READ

10:02 AM

Daily commentary: Market hoping for Israel war to remain localised

The market scenario is changing fast. There is a risk-on mood in the market triggered by the hope that the Israel-Hamas conflict will not spread.

President Biden’s upcoming trip to Israel and Jordan and the two US aircraft carriers sent to the Eastern Mediterranean is a clear message to Iran and Hezbollah not to intervene in the war. The market hopes that the war will remain localised, and this is the reason why the market remains hopeful.
 

The HDFC Bank results, particularly the bullish guidance and commentary, are positive and the bank, which has the highest weightage in the Nifty, can support the market. Results from the other leading banking names too will be good.

Capital goods and autos continue to be on strong wicket.

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

9:48 AM

Cyient DLM up 3% on strong Q2 numbers

Net profit more-than-doubled to Rs 14.65 crore in Q2 from Rs 7.10 crore last year. Total income surged 77.7 per cent YoY to Rs 301.12 crore. 

9:45 AM

Jio Financial off highs; reports 2x jump in profit for Sept quarter

In its first earnings after being demerged from Reliance Industries and listed on the exchanges, the company posted a 101.30 per cent growth in net profit at Rs 668.18 crore for the quarter ended September 30 versus Rs 331.92 crore in Q1FY24. 

9:41 AM

Bank of Maharashtra up 2%; net profit zooms 72% YoY in Sept quarter

Q2 net profit surged 72 per cent YoY to Rs 920 crore, while Net Interest Income (NII) expanded 28.9 per cent YoY to Rs 2,432 crore.