Auto, metal, FMCG shares lift Sensex 119 pts up; Broader markets outshine

CLOSING BELL ON JUNE 02, 2023: The NSE Nifty 50 finished 46 points higher at 18,534; Hero MotoCorp, Apollo Hospitals and Hindalco rallied over 3 per cent each.

12:39 PM

Opportune time to diversify internationally as US benchmarks recover

Year-to-date, the Motilal Oswal NASDAQ-100 Exchange Traded Fund (ETF) (up 30.9 per cent) and the Mirae Asset NYSE Fang+ ETF (up 62.1 per cent) have led the bounce back. These funds had posted negative returns of 25.8 per cent and 33.5 per cent, respectively, in 2022. READ MORE

12:26 PM

360 One Asset Management raises Rs 2,130 cr for latest private credit fund

"Strong investor sentiment has propelled record fundraising in India-focused funds, and 360 One Asset's success in closing its fourth private credit fund at such a scale underscores the long-term promise of India's private credit story, our strong track record in the private credit asset class and our experienced fund team. We are excited about growing the private credit space in India and are well-positioned as a firm to capitalise on the opportunities in this market," said Karan Bhagat, founder, managing director (MD), and chief executive officer (CEO) of 360 One WAM Ltd. READ MORE

12:14 PM

Despite signs of fatigue, market breadth shows bulls have upper hand

The present bullish trend in the leading indices; which has displayed smart recovery since late March this year, remains intact as the market breadth continues to stay elevated. Both indices are up over 2 per cent so far since the start of the current year. READ MORE

12:04 PM

India's FY24 GDP data: Spate of forecast hikes, but not all agree

India’s economic growth shot up by 6.1 per cent in Q4FY23 and 7.2 per cent in FY23, beating analysts’ expectations, as the expansion in manufacturing and construction surprised on the upside, reflecting sustained strength in domestic demand amid a gloomy global outlook. READ MORE

11:51 AM

I think animal spirits are already out in India Inc, says Sunil Mittal

I would say the mood of the nation was looking better than what was being suggested. This only confirms the momentum in foreign investment, local capital in industry, new plants, new capacity. The numbers validate that. True that some sections of the society and industry are suffering whereas others are flourishing. But the overall GDP for the full year at 7 per cent plus implies it (the momentum) is fairly widespread. READ INTERVIEW

11:40 AM

Vedanta-Foxconn setback shows cracks in Modi's $24 bn manufacturing push

To that end, a likely rejection by the government of incentives for the 28-nanometer chip unit proposed by Indian billionaire Anil Agarwal’s Vedanta Resources Ltd. and Taiwan’s Hon Hai Precision Industry Co., also known as Foxconn, is not a good look. READ MORE

11:29 AM

Getalong Enterprise rallies 3% after promoter Westpac Investments acquires shares

11:16 AM

Minda Corp hits new high; up 4% ahead of board meet to raise funds

The board will meet today to discuss and consider, among other things, raising of funds through issue of equity shares by way of preferential issue, qualified institutions placement or rights issue. READ MORE

11:05 AM

Total cargo handling at APSEZ ports jump 19% in May, YTD numbers up 16%

Growth was seen in almost all the ports and in all three segments of its business, the company said. READ MORE

10:54 AM

Private banks register higher growth in deposits vs PSBs; rise 9.6% YoY

For the first time, HDFC Bank registered a total deposit of Rs 3.24 trillion, not quite close to SBI's deposits but still a sign of strong growth in terms of deposits. READ MORE

10:44 AM

NCC gains 3% on winning orders worth Rs 2,088 crore in May 2023

Thus far in the calendar year 2023, the stock has surged 36 per cent, as compared to 2.1 per cent rise in the S&P BSE Sensex. READ MORE

10:36 AM

Tata Elxsi to use blockchain to monitor driver behaviour; partners Cultos

Tata Elxsi's collaboration with Cultos Global is aimed at creating an innovative Driver Reward Program. READ MORE

10:25 AM

Aurum Proptech rallies over 7% after it acquires complete stake in NestAway Tech

10:14 AM

TVS Motor surges 2% after it hikes price of IQube scooter

The company hiked price of its TVS IQube scooter by Rs 17,000 to Rs 20,000 depending on the variant, making the announcement after the government’s FAME II programme revised subsidies for electric two-wheelers (E2W).

10:03 AM

Hero MotoCorp surges 4%, nears 52-week high on healthy sales in May

HMCL said the momentum is expected to continue in the coming months, driven by an uptick in customer sentiments, forecast of normal monsoon and a host of new launches in the premium segment. READ MORE