Sensex soars 463pts, ends atop 61K; Nifty tops 18050; mid-, smallcaps shine

CLOSING BELL: Healthy buying in heavyweights like Reliance Industries, L&T, ITC, Kotak Bank, SBI, Bharti Airtel, TCS, and HDFC Bank lifted benchmarks on Friday

12:26 PM

ACC on Hindenburg: Independent review found it in compliance with all laws

Says since matter is sub-judice, financial statements do not carry any adjustments. READ MORE

12:15 PM

Nifty Smallcap index crosses 200-DMA; these 9 stocks may rally up to 40%

The Smallcap index seems poised to hit the 10,000-mark. READ MORE

11:57 AM

Axis Bank shares slide 3% post Q4 results; what should investors do?

Global brokerage Jefferies has initiated coverage on Axis Bank stock with a target price of Rs 1,150. READ MORE

11:45 AM

Jet Airways revival hits new snag as more employees quit amid uncertainty

In the past week, senior employees, including the company secretary, accountable manager and chief security officer, have quit Jet Airways. READ MORE

11:31 AM

Glenmark Life rallies 10%, hits 52-week high on strong Q4FY23 results

In the past one month, the stock has zoomed 40 per cent as compared to a 5.4 per cent rise in the S&P BSE Sensex. READ MORE

11:20 AM

Need for business insurance leads to 'Policybazaar for Business'

Policybazaar, an insurance brokerage firm has launched a new brand “Policybazaar for business” to fill the growing need for corporate insurance in the post-Covid world. READ

11:09 AM

Godrej Consumer, Raymond dip up to 6% day after reporting Rs 2,825 cr deal

The proceeds from the sale of FMCG business would be utilized for repayment of debt and infusing of funds in the Lifestyle business, Raymond said. READ

11:00 AM

Chola Fin raises Rs 1,000 crore through maiden public bond offering

The offering was oversubscribed 5.17 times the base issue (Rs 500 crore) on the final day of the issue. READ

10:50 AM

HG Infra unit wins order worth Rs 1303 crore; stock off highs

10:42 AM

S&P affirms HDFC Bank's long-term issuer credit rating at 'BBB-'

The bank's strong management and governance structure should help in the planned merger of mortgage lender Housing Development Finance Corporation Ltd (HDFC) with itself. READ

10:31 AM

PI Industries surges 10% on twin acquisitions in pharma API, CDMO space

These acquisitions acquisitions will boost PI's capabilities in API and CDMO space. READ

10:21 AM

Zuckerberg's fortune jumps $10 bn on Meta's robust first-quarter sales

Mark Zuckerberg’s wealth soared by more than $10 billion on Thursday, his third-biggest jump on record, after Meta Platforms Inc. surprised investors with robust first-quarter sales. READ

10:11 AM

MARKET VIEW: Suggest investors to stay invested in MidCap IT stocks

There is global support to the ongoing rally in the Indian market. The mother market, US, is doing well supported by better-than-expected earnings from Big Tech companies. The latest GDP numbers from the US indicate a strong but slowing economy. Markets are now discounting a 25 bp rate hike by the Fed next week and then a pause. This will be favourable for the market in the short-term. 
 

Since the Nifty has moved up by 5% in the April series, some profit booking can happen in the near-term. An important sectoral trend in the market is that while large-cap IT has been performing poorly, mid-cap is doing well and some of them have given optimistic guidance for FY24. Stay invested in mid-cap IT. Long-term investors can utilise weakness in large-cap IT to accumulate these stocks. Banking stocks will remain resilient.

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

10:01 AM

Wipro gains 3% on announcing Rs 12,000 crore share buyback via tender route

The IT services major intends to buy back about 4.91 per cent of its shares at Rs 445 per share through tender route. READ

9:58 AM

Indus Towers surges 9% on receiving 'significant part' of Q4 dues from VI

Indus Towers said on Thursday it received a “significant part” of the instalment-based payments from Vodafone Idea (Vi) for the January-March period, the company’s senior management said in a post-results investor call.