Sensex extends rally to 4th day, ends 123 pts higher; ITC, IT stocks shine

CLOSING BELL ON MAY 30, 2023: The NSE Nifty 50 gained 35 points at 18,634; while the Bank Nifty hit a fresh all-time high at 44,499.

SI Reporter New Delhi

(Photo: Bloomberg)

3:15 PM

Participatory-notes investment hits 4-month high of Rs 95,911 cr in April

Participatory notes (P-notes) are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. READ MORE

3:03 PM

US Market Check:: Nasdaq futures up 1%; S&P 500 up 0.5%

Source: Investing.com

2:54 PM

Domestic financial markets remained orderly in 2022-23: RBI report

Reserve Bank of India (RBI) has said that in 2022-23 the domestic financial market movements remained orderly, notwithstanding persisting impact of global spillovers during the year. READ MORE

2:42 PM

ALERT:: EID Parry Q4 net tumbles 63%; stock sheds 3%

EID Parry (India) Q4 net profit tumbled 63.2 per cent to Rs 82.77 crore for the quarter ended March 2023 as against Rs 225.12 crore in the quarter ended March 2022. Total income declined by 12.6 per cent YoY to Rs 916.92 crore from Rs 1,049.11 crore.

2:30 PM

ALERT:: V-Guard Industries Q4 net dips 49%; stock slips 3%

V-Guard Industries Q4 net profit declined 48.9 per cent to Rs 46.33 crore for the quarter ended March 2023 as against Rs 90.60 crore in the year ago period. Total income, however, was up 2.7 per cent YoY at Rs 1,081.97 crore from Rs 1,053.57 crore.

2:17 PM

Top 4 IT companies see 40% drop in large client additions in FY23

Infosys is the only IT firm whose net client addition remained flat at 23 in FY23. All the other firms added fewer clients. READ MORE

The finance ministry (FinMin) has asked Infosys to work on ways to extract and access taxpayers’ real-time data faster and accurately as it is crucial for taking decisions on policy changes

2:05 PM

ALERT:: 3M India Q4 net jumps 22%; stock gains over 3%

3M India Q4 net profit rose 22.4 per cent to Rs 135.72 crore for the quarter ended March 2023 when compared with Rs 110.92 crore in the year ago period. Total income advanced by 13 per cent YoY to Rs 1,055.90 crore from Rs 934.81 crore.

1:53 PM

ITC trades ex-date for dividend; stock gains over 2% in subdued market

Thus far in the calendar year 2023, ITC has outperformed the market by surging 35 per cent, as compared to 2.8 per cent rise in the S&P BSE Sensex. READ MORE

1:42 PM

After RIL-bp, Nayara Energy sells petrol, diesel at Re 1 less than PSUs

After Reliance Industries Ltd and its partner bp plc of the UK, Nayara Energy - the nation's largest private fuel retailer - has started selling petrol and diesel at Re 1 less than the fuel sold by state-owned retailers, officials said. READ MORE

1:33 PM

ALERT:: Everest Kanto Q4 net plunges 44%; stock sheds 5%

Everest Kanto Cylinder Q4 consolidated net profit plunged 44 per cent to Rs 36.30 crore for the quarter ended March 2023 when compared with Rs 64.80 crore in the corresponding quarter a year ago. Total income declined by 37.8 per cent YoY to Rs 297.90 crore from Rs 478.70 crore.

1:19 PM

Unilever CFO Pitkethly to leave company by May 2024 as inflation worsens

The announcement of his departure comes as Unilever, like the rest of the consumer goods industry, is grappling with significant cost inflation and pressure on its margins. READ MORE

Unilever headquarters in Rotterdam, Netherlands

1:07 PM

Global Market Update:: Kospi gains in flat Asian trade

Source: Yahoo Finance

12:48 PM

Nearly half of FAME electric 2-wheeler sales based on false claims: Report

An investigation done by ARAI found several firms depending on imports for key parts such as electric motors, controllers, and onboard chargers. READ MORE