Sensex sinks 536 pts, Nifty nears 21,500 amid global sell-off; IT slides

Closing Bell on January 3, 2024: On the upside, Bajaj Auto, Adani Enterprises, Adani Ports, Cipla, ITC, and IndusInd Bank were the top gainers, rising up to 4.5 per cent

2:08 PM

ALERT:: Amber Enterprises to buy majority stake in Ascent; stock up 0.5%

Amber Enterprises in an exchange filing said that IL JIN Electronics (India) the material subsidiary of the company has signed a 'definite agreement' with Ascent Circuits for acquiring majority stake in the equity share capital of Ascent, which is one of the leading manufacturers of Printed Circuit Boards (PCBs).

1:55 PM

IPO fundraising drops 17% in 2023, 40 firms gave over 10% return on listing

Tata Technologies gave a stupendous return of 163 per cent followed Ideaforge (93 per cent) and Utkarsh Small Finance Bank (92 per cent). 53 of the 57 IPOs are trading above the issue price. READ MORE

1:44 PM

Market check:: BSE Smallcap index also rebounds; SPARC, NRB Bearings zoom 10%

1:33 PM

Market check:: BSE Midcap index rebounds, up 0.3%; Canara Bank rallies 4%

1:21 PM

ITC hits over 5-month high in weak market; stock rallies 10% since December

Shares of ITC continued to trade firm in an otherwise weak market, hitting over five-month high of Rs 480.70 as they rose 2.2 per cent on the BSE in Wednesday's intraday trade. READ MORE

1:10 PM

Asian Market Update:: Kospi, Taiwan end Wednesday's trade with deep cuts

Source: Yahoo Finance

12:59 PM

Market Check :: Nifty breaks below 21,550

12:43 PM

Sagar Cements surges 8%, nears record high on heavy volumes

The management expects a similar margin profile during the second half of the fiscal (H2-FY24) driven in part by lower input costs, and better volume growth on account of ramp-up of Andhra cement and MP and Odisha plants. Also, the company's strategic initiatives towards increasing the share of green power, usage of electric trucks and wheel loaders and increased usage of alternative fuel, bodes well for rationalisation of operating costs over the medium to long term. READ MORE

12:32 PM

'Grateful to those who stood by us': Adani on Adani-Hindenburg case verdict

In a post on social media platform X, Adani said, "The Hon'ble Supreme Court's judgement shows that: Truth has prevailed. Satyameva Jayate. I am grateful to those who stood by us. Our humble contribution to India's growth story will continue. Jai Hind." READ MORE

12:21 PM

Oil an option to recoup $600 million from Venezuela dividend: ONGC Videsh

ONGC Videsh (OVL), the overseas investment arm of India's top explorer Oil and Natural Gas Corp, holds 40 per cent stake in the San Cristobal field in eastern Venezuela's Orinoco Heavy Oil belt, with PdVSA holding the remainder. READ MORE

12:07 PM

Duration funds likely to offer 12-14% return: What should your 2024 strategy be?

Moreover, the rate-hiking cycle has peaked and the rate-cutting cycle is about to begin. Inflation is cooling off along with slowing global growth. High interest rates, declining growth and heightened geo-political tensions have increased the risk of financial or economic shocks, while domestic demand-supply dynamics in the bond market is looking more favourable with robust tax collections, the government’s fiscal consolidation plan and India’s inclusion in the global bond index. READ MORE

11:50 AM

Reserve Bank of India seeks to lower NNPA of banks for paying dividends

At present, the minimum net NPA requirement is 7 per cent.  Banks were also required to meet the applicable regulatory capital requirement for each of the last three financial years, including the one for which the dividend is proposed. READ MORE

11:35 AM

ALERT :: GAIL, TruAlt Bioenergy enter into JV with $72 million investment

>> GAIL (India), and TruAlt Bioenergy have signed a Term Sheet for GAIL's equity participation in TruAlt's joint venture company Leafinti Bioenergy Limited which owns and operates India's second Compressed Bio Gas (CBG) plant.

>> TruAlt Bioenergy and GAIL India shareholding in the JV would be 51 % and 49%, respectively.

>> The Investment in setting up the CBG plants will exceed over $72 million and will be funded through a combination of debt and equity.

>> The JV aims to create a robust ecosystem for the production of CBG from diverse waste and biomass sources alongside the growing potential CNG.

Source: BSE filing 
 

11:20 AM

ALERT :: India's December manufacturing PMI slips to 54.9 vs 56.0 in November

India's manufacturing industry ended 2023 on a slightly shaky footing as factory growth decelerated to an eighteen-month low in December, pressured by a weaker rise in new orders and output, a business survey showed on Wednesday. READ MORE

11:08 AM

VST Industries zooms 28% in 2 days as Radhakishan Damani, SBI MF hike stake

Shares of VST Industries hit a nearly four-year high at Rs 4,328, as they rallied 6.5 per cent on the BSE in Wednesday’s intra-day trade, zooming 28 per cent in past two days in an otherwise weak market after investor Radhakishan Damani and SBI Mutual Fund increased stake in the company via open market. READ MORE