Sensex zooms 340 pts, ends near 65,800; Nifty tests 19500; auto stocks lead

Closing Bell on July 6, 2023: This was the Nifty50 index's eighth straight session of gains

1:58 PM

ALERT:: BSE approves share buyback at Rs 816/ share

The board of directors of BSE have approved buyback of equity shares worth Rs 374.80 crore at Rs 816 per share via tender offer route.

1:52 PM

ALERT:: Rupee weakens to 82.50/$

The Indian Rupee was seen quoting 28 paise weaker at 82.51/$ on Thursday.

Source: Bloomberg

1:41 PM

JSW Steel posts 11% rise in crude steel production at 6.43 MT in Q1

It had produced 5.77 million tonnes (MT) steel during the April-June period of the preceding 2021-22 fiscal, JSW Steel said in a statement. READ MORE

1:29 PM

In charts: India's rural super rich are growing faster than the urban rich

According to PRICE, the category of rich Indians which has seen the fastest growth in numbers in the five years ending 2020-21 has been the 'super rich' - or those more than Rs 2 crore annually. READ MORE

 

1:18 PM

ALERT:: G M Breweries Q2 net up 23%; stock up 1%

G M Breweries reported a net profit of Rs 19.91 crore for the quarter ended June 2023, up 23.2 per cent when compared with Rs 16.16 crore in the year ago quarter. Total income was up 5 per cent YoY at Rs 580.46 crore from Rs 552.77 crore.

1:06 PM

JBM Auto cracks 15% as investors book profit after a 51% rally in 12 days

In the last session on July 5, JBM Auto had hit a 52-week high of Rs 1,517.5 per share. On a year-to-date basis, the share has more than doubled investors' wealth with a whopping rally of 190 per cent. READ MORE

12:53 PM

RBI permits UBS-owned Credit Suisse to keep Indian banking license

Tom Wipf from Morgan Stanley, who will play a key role in the tie-up of the two banks and in facilitating the integration of Credit Suisse and UBS. READ MORE

12:43 PM

Export of steel, iron ore, cement likely to be hit by EU carbon tax: FinMin

India's merchandise trade deficit rose faster-than-expected in May to $22.12 billion, up from $15.24 billion in April, due to reduced demand for Indian exports from developed countries. READ MORE

12:28 PM

Auto retail sales touch 1.86 million in June, 10% more than last year: FADA

Compared to pre-Covid levels, overall auto retail decreased 3%, with two-wheeler segment as the sole laggard. READ MORE

12:18 PM

Only 93 Nifty 500 stocks trade in overbought territory, more upside likely

Market participants closely monitor the RSI to determine the strength based on 70 and 30 values. This assists in identifying instruments that are supposedly experiencing increased buying or selling. READ MORE

12:01 PM

Nifty Realty index extends gain, up over 2% led by Lodha, IB Realty

11:48 AM

OMCs log 52-week high on fund raising plan; HPCL, BPCL, IOC gain up to 4%

Fitch ratings have said that announcements of plans to raise equity capital by BPCL and IOC should strengthen their capex spending and the credibility of their emission-reduction plans. READ MORE

11:37 AM

Reliance Jio to sign 5G equipment deal worth $1.7 billion with Nokia

Reliance's purchase from Nokia is in addition to the $2.1 billion worth of 5G equipment that it is already buying from Sweden's Ericsson. READ MORE

11:23 AM

After TCS, Tata Steel suspends 35 employees for ethical misconduct

Another three employees were fired for sexual misconduct, taking the total tally to 38. READ MORE

11:12 AM

HDFC, IDFC mergers may not trigger consolidation for PSU banks: Analysts

There is more money to be made in PSBs as RoA expansion has peaked for private banks, analysts said. READ MORE