Bajaj twins, IT shares drag Sensex 195 pts, Nifty near 22,350; TaMo up 3.6%

Stock market highlights on March 5, 2024: Tata Motors advanced 3.58 per cent, Bharti Airtel added 3 per cent, and SBI 1.6 per cent

11:12 AM

Adani's first bond issue sees massive comeback to international market

"The issuer was able to significantly tighten the pricing from the initial guidance, which is a testament to strong demand and enthusiasm for Indian companies, especially in the infrastructure and renewable space," the second banker, who was also one of the bookrunners, said. READ MORE

11:01 AM

India's February services PMI eases to 60.6 on low business confidence

The seasonally adjusted HSBC India Services Business Activity Index registered 60.6 in February, down from 61.8 in January. Despite having slipped, the headline index was comfortably above the neutral mark of 50.0 and signalled a sharp rate of expansion that was well above the series history (since December 2005).  READ MORE

10:51 AM

New Listing :: Exicom Tele-Systems makes robust debut; lists 86% higher over issue price

Post listing, the stock moved higher to Rs 274.30, a premium of 93 per cent over the issue price. At 10:02 am, it was quoting at Rs 271.50 on the BSE. In comparison, the S&P BSE Sensex was down 0.39 per cent at 73,586. READ MORE

10:39 AM

Market Check :: Sensex at day's low

10:25 AM

IIFL Finance slumps 20% post RBI ban on sanctioning, disbursing gold loans

The regulator also found breaches in the loan-to-value ratio, significant disbursements and collections of loan amount in cash far in excess of the statutory limit, non-adherence to the standard auction process, and lack of transparency in charges on customers. READ MORE

10:12 AM

Tata Motors tops Rs 1,000; surges 5% on demerger plan of CV, PV businesses

One entity will house the commercial vehicles (CV) business and its related investments, while the other will encompass the passenger vehicles (PV) businesses, including domestic PV, electric vehicle (EV), Jaguar Land Rover (JLR), and their related investments. Tata Motors made the announcement on Monday after market hours. READ MORE

10:00 AM

Comment :: 'High valuations can constrain further rally'

While the market is steady, the small cap index is showing some strain with a cut of 0.5% yesterday. 

Perhaps there is some selling happening in small caps in response to the Sebi advisory to mutual funds flagging concerns of excessive valuations. Weakness in the small cap segment is likely to continue.

The Chinese National People’s Congress, which has begun, will be keenly watched by the markets. Announcements relating to the initiation of growth stimulating reforms have the potential to attract big money into their stock market, which is now trading at cheap valuations.

Therefore, it is important to watch out for developments in China.

While there is fundamental support to the Indian stock market, high valuations can constrain further rally. The market is likely to remain range-bound in the near-term. 

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

9:47 AM

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

9:43 AM

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

9:36 AM

NBCC off highs; co wins order worth Rs 92 crore

>> The company’s unit secured an order valued at Rs 92 crore from the Post Graduate Institute of Medical Education and Research in Chandigarh.

9:33 AM

Jio Financial Services gains on report 2 promoter entities may raise stake

>> Two promoters of Jio Financial Services Ltd. are set to acquire 140 million shares of the subsidiary, report said.

>> Sikka Ports and Terminals Ltd. and Jamnagar Utilities and Power Pvt. will collectively acquire a 2.2% stake in Reliance Industries Holding Pvt. 

9:31 AM

Midhani, BEL gain up to 4% on MoU with MoD

>> BHEL, however, fell 2%

>> On Monday, the MoD signed a tripartite MoU with BEML Limited, Bharat Electronics Limited (BEL), and Mishra Dhatu Nigam Limited (MIDHANI) for indigenous development of Advanced Fuelling and Control System for Engines for heavy duty applications. 

9:28 AM

Macrotech Developers gains 2% in weak market on QIP boost

>> The company has initiated a qualified institutional placement (QIP) to raise Rs 3,300 crore.

9:27 AM

Buzzing stock :: IIFL Finance freezes at 20% lower circuit post RBI restrictions

>> The Reserve Bank of India (RBI) on Monday debarred IIFL Finance, a non-banking financial company (NBFC), from sanctioning and disbursing fresh gold loans following “material supervisory concerns” and to protect the interests of customers with immediate effect.

9:25 AM

Buzzing stock :: Tata Motors zooms 4%, tops Rs 1,000-mark on demerger proposal

>> Tata Motors Ltd. has given the green light to a plan to divide the company into two distinct listed entities, one focusing on passenger vehicles and the other on commercial vehicles.