Benchmarks slip, but end 2023 with up to 20% gains; SmallCap index up 47%

Closing Bell on December 29, 2023: The BSE Sensex is ending calendar year 2023 with a solid gain of 18.8 per cent, and the Nifty50 with 20.1 per cent

10:32 AM

Innova Captab makes quiet debut at 2% premium; strengthens post listing

Innova Captab made a quiet debut on Friday with its shares listing just 2 per cent higher at Rs 456 against the issue price of Rs 448 on the BSE. The stock of the pharmaceutical company listed 1 per cent higher at Rs 452 on the National Stock Exchange (NSE). Read

10:15 AM

Tata Coffee, Tata Consumer Products merger to be effective from January 1

The scheme of arrangement between Tata Coffee Ltd (TCL), Tata Consumer Products Ltd (TCPL) and its wholly owned subsidiary TCPL Beverages and Foods Ltd (TBFL) will be effective from January 1, 2024.
 

The scheme involves the demerger of Tata Coffee's plantation business into TCPL Beverages and Foods and the merger of the remaining business with Tata Consumer Products. Read

10:03 AM

Alert: Innova Captab sees muted debut; sees post listing upmove

9:50 AM

View: Midcaps and Smallcaps likely to reverse upbeat trend in 2024

As 2023 draws to a close, the most significant feature of the year’s rally is the sharp outperformance of the broader market. The midcap index is up by almost 45 % and the small cap index is up by 55 % leaving the Nifty far behind with appreciation of around 20%.

This trend is likely to be reversed in 2024 since the mid and small caps are overvalued and large caps are relatively fairly valued. 
 

Autos, construction and financials are set to do well in 2024. Autos are in a cyclical rebound, financials are fairly valued even after the recent run up and the prospects for construction related segments continue to look good.

Capital goods will continue to do well in 2024 too. January is normally a poor month for the market. Q3 results and management commentary will be keenly watched by the market.

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

9:40 AM

Manorama Ind zooms 4%; board to consider stock split on January 15

Manorama Industries: Board to meet on January 15 to consider stock split.

9:37 AM

RBL Bank surges 4%; RBI nods ICICI Pru AMC to buy 10% stake in lender

9:35 AM

IOC, BPCL and HPCL drop up to 3% on report govt may soon cut fuel prices

As per CNBC Awaaz, the govt could soon reduce petrol and diesel prices by Rs 10. 

9:33 AM

TCPL, Tata Coffee zoom 3% each; merger effective January 1

Tata Coffee to merge with Tata Consumer Products (TCPL) and TCPL Beverages & Foods (TBFL) with effect from January 1. The record date for the share swap is set as January 15.

9:30 AM

Railtel jumps 5% on winning Rs 120 crore-order

Won an order amounting to Rs 120.45 crore from South Central Railway

9:27 AM

All sectors in red except FMCG and Auto

9:26 AM

Midcap, Smallcap indices just above flatline

9:24 AM

BPCL, Kotak Bank, Apollo Hosp top Nifty drags

9:22 AM

FMCG, Auto stocks lead Nifty winners

9:20 AM

Heatmap: Most Sensex stocks open with losses

9:18 AM

Opening Bell: Nifty falls near 21,700