Sensex ends 284 pts lower, Nifty below 19K again; Asian Paints, metals drag

Stock market on November 1, 2023: On the positive front, Sun Pharma gained nearly 3 per cent; Debutant Blue Health hit upper circuit on debut.

2:01 PM

Asian Market Update:: Nikkei, Kospi shine in mixed trade

Source: Yahoo Finance

1:44 PM

Vodafone Idea up 12%, hits 21-month high on hopes of equity infusion by Dec

The sharp up move in the stock comes on expectations of fund infusion of its promoters. According to media reports, the management in its quarterly earnings call said that the promised promoter funding commitment of Rs 2,000 crore should close in the current December quarter. READ MORE

1:30 PM

Govt allows direct overseas listing of firms; notifies under companies law

A senior government official, on July 28, said that initially, the plan is to allow companies to list at the International Financial Services Centre in GIFT City, Ahmedabad, and later, they can list in any of the eight to nine specified overseas jurisdictions. READ MORE

1:19 PM

ALERT :: Hero MotoCorp sells 574,930 units in October 2023

>> Sales up 26% Y-o-Y from 454,582 units in October 2022

 

1:06 PM

ALERT :: No plans to reinitiate merger talks; Crompton, Butterfly to operate independently, says CGCEL

>> While the merger will not proceed, there are currently no plans to reinitiate it

>> Crompton and Butterfly will continue to operate independently, reinforcing their strong market positions and strategies

>> The strategy in kitchen appliances segment will encompass both the 'Crompton' and 'Butterfly' brands, with the expectation of delivering significant growth over the next few years.

Read full statement here

12:55 PM

ALERT :: Tata Motors registers total sales of 82,954 units in October 2023

>> Total CV Sales of 34,317 units, up 4% YoY

>> Total PV Sales of 48,637 units, up 7% YoY
 

12:49 PM

Institutional shareholder dissent in Nifty-50 firms drops by 30% this year

According to Pranav Haldea, Managing Director, PRIME Database Group, this is an encouraging sign as it shows that companies have finally started taking cognizance of minority shareholders’ interests and are also engaging with investors to understand their concerns prior to proposing resolutions. READ MORE

12:34 PM

Adani Wilmar reports net loss of Rs 130 crore in Q2FY24

Adani Wilmar, the FMCG arm of the Adani group, on Wednesday reported a loss of Rs 130.73 crore in the quarter that ended on September 30, as compared to a profit of Rs 39 crore in the same quarter last year. Read

12:20 PM

Low free float behind rally in most mid-cap, small-cap stocks: Kotak study

Stocks in the top and bottom performance quartiles had different free floats. Delivery value, relative to free float, was much higher for the top performers. Read

12:04 PM

M&M reports highest-ever SUV, commercial vehicle monthly sales in October

In the utility vehicle segment, Mahindra recorded the highest sales for the fourth consecutive month. Read

11:48 AM

Stock of this wealth management company has zoomed 139% in 4 months

Shares of Anand Rathi Wealth hit a new high of Rs 2,075, surging 9% in Wednesday's intraday. It has zoomed 196% thus far in the calendar year 2023. Read

11:32 AM

ALERT:: Marksans Pharma Verna unit gets nod from German health authorities; stock up 2%

Marksans Pharma newly acquired manufacturing facility located at Verna, Goa has successfully undergone inspection from German health authorities, the company said in an exchange filing.

 

The authorities have not found any critical/ major observations but have few recommendations/ minor points which the company is committed to implement immediately, the release stated.

11:21 AM

India's October manufacturing PMI slips to 55.5, lowest in eight months

India's manufacturing activity in October slipped to the lowest in eight months, said a survey by the credit rating agency S&P Global. The Manufacturing Purchasing Managers' Index (PMI) fell to 55.5 in October, compared to 57.5 in September. It is the lowest since March when the PMI was 55.7. READ MORE

11:12 AM

Jindal Steel & Power hits over 3-month low, slips 7% post Q2 results

Analysts at Prabhudas Lilladher cut FY24/25E Ebitda estimates by 9 per cent/7 per cent on higher coking coal price assumption and delays in capacity addition. READ MORE

11:02 AM

ALERT:: Paradeep Phosphates Q2 net soars 77%; stock rallies 6%

Paradeep Phosphates Q2 net surged 77 per cent to Rs 120.36 crore for the quarter ended September 2023, when compared with Rs 68 crore in the corresponding quarter a year ago. Total income was up 28. per cent YoY to Rs 3,694 crore.