Sensex ends lower for third straight day, down 232 pts; ITC, HUL weigh

The NSE Nifty50 ended 82 points lower at 19,543; broader indices too finished with significant losses. Private banks, however, bucked the trend on Friday.

3:13 PM

Stock of this railway wagon company has zoomed over 800% in 20 months

Shares of Titagarh Rail Systems Limited (TRSL) rallied 9 per cent to Rs 866 on the BSE in Friday’s intra-day trade after the company inked a Rs 350-crore contract with Gujarat Metro Rail Corporation Limited (GMRC) for the Ahmedabad Metro Rail Phase-II Project. READ MORE

3:03 PM

ALERT:: Rama Steel Tubes okays Rs 500 cr fund raise; stock down 0.7%

The board of directors of Rama Steel Tubes approved a proposal to raise up to Rs 500 crore capital.

2:52 PM

ALERT:: CG Power & Industrial Solutions Q2 zooms 100%; stock gains 2%

2:39 PM

ALERT:: Hindustan Zinc Q2 net dips over 35%; stock sheds 4%

Hindustan Zinc today reported a 35.5 per cent dip in consolidated net at Rs 1,729 crore for Q2FY24 when compared with Rs 2,680 crore in Q2FY23. Total income declined 19.4 per cent YoY to Rs 7,014 crore.

2:27 PM

ALERT:: Kajaria Ceramics Q2 net soars 61%; stock slips 2%

Kajaria Ceramics today reported a 60.9 per cent surge in Q2FY24 consolidated net at Rs 110.82 crore when compared with RS 68.89 crore in Q2FY23. Total income increased 4.1 per cent YoY to Rs 1,129.89 crore.

2:14 PM

GST to be paid on gold coins, white goods given as incentives, rules AAR

The distribution of gold coins, white goods and discount coupons given to incentivise sales would be treated as supply of goods and hence the Goods and Services Tax (GST) would be imposed on them, the authority for advance rulings (AAR) of Telangana has ruled. Input tax credit (ITC) can be claimed on the tax paid, it said. READ MORE

2:02 PM

India not planning curbs on imports or investments from Canada: Reports

India is not planning to impose any measures to curb imports or investments from Canada, despite simmering diplomatic tensions between the two countries, two senior government sources in New Delhi said. READ MORE

1:51 PM

ALERT:: Century Textiles posts Rs 33 cr loss in Q2; stock cracks 7%

Century Textiles today reported a consolidated net loss of Rs 33 crore for Q2FY24. In the corresponding quarter a year ago, the company had posted a net profit of Rs 70 crore. Total income was down 10 per cent YoY to Rs 1,087 crore.

1:40 PM

ALERT:: Glenmark Life Q2 net rises 11%; stock up 0.4%

Glenmark Life Sciences today reported a 11 per cent growth in Q2FY24 net profit at Rs 118.70 crore when compared with RS 106.90 crore in Q2FY23. Total income was up 16.9 per cent YoY at Rs 595.40 crore.

1:28 PM

ITC down 3%, sees sharpest single-day fall in 12 weeks post Q2 results

Shares of ITC slipped 3 per cent to Rs 437.80 on the BSE in Friday’s intra-day trade on reporting a lower-than-expected rise in consolidated net profit for the September quarter (Q2FY24).  READ MORE

1:17 PM

ALERT:: Elecon Engineering Q2 net surges 66%; stock up 2%

Elecon Engineering today reported 65.9 per cent surge in Q2 net profit at Rs 78.98 crore for the quarter ended September 2023 when compared with Rs 47.61 crore in the corresponding quarter a year ago. Total income was up 36 per cent YoY at Rs 417.53 crore.

1:06 PM

COMMENT:: West Asia crisis can pose additional near-term challenges for market

The US 10-year yield hovering around 5 per cent continues to be a headwind for equity markets. The volatile situation in West Asia, though being largely ignored by the market now, can pose additional near-term challenges. 

 

FPIs are likely to remain sellers putting pressure on banking stocks which constitute the major share of their AUM. This provides an opportunity for domestic investors to buy these stocks which are available at fair valuations.

 

Latest data shows that India's food grain production is at record high and this can keep food inflation under control. The implication is that the MPC will go for a long pause and this is favourable for banking stocks.

 

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

12:52 PM

Market Check:: BSE MidCap index down nearly 1%; IGL cracks 10%

12:41 PM

Israel strikes hundreds of Hamas targets, destroys munition warehouses

Israel Air Force (IAF) struck hundreds of operational targets of the Hamas terrorist group and killed one terrorist in the Gaza Strip as it continues its retaliation against the attack launched by the terrorist group on October 7. READ MORE

12:28 PM

Monetary policy ought to remain actively disinflationary: RBI Governor Das

Addressing the Kautilya Economic Conclave 2023, he also said price stability and financial stability complement each other and it has been an endeavour at RBI to manage both efficiently. READ