Sensex bleeds 796 pts, Nifty holds 19,900 as HDFC Bank slides 4%, RIL 2%

Closing Bell on Wednesday, September 20: HDFC Bank shares were the biggest dragger on the benchmarks as they dropped nearly 4 per cent, while JSW Steel, and Reliance Industries fell over 2 per cent

3:13 PM

IFCI zooms 28% in 2 days, hits over 5-year high on huge volumes

IFCI’s financing activities covered various kinds of projects such as airports, roads, telecom, power, real estate, manufacturing, services and other such allied industries. However, due to liquidity constraints, IFCI halted its lending operations since FY22. READ MORE

2:57 PM

Led by festival season, revenue of apparel retailers to grow 7-8% in FY24

"Demand from the premium segment is rising gradually with consumers increasingly preferring branded garments, driven by a return to office and buoyant corporate activity. This is helping offset muted-to-low demand from the economy and value segments because of changes in discretionary purchasing decisions, including due to rise in food inflation, in the recent past," said Anuj Sethi, senior director at CRISIL Ratings. READ MORE

2:46 PM

ALERT :: IndiGo erases losses as Akasa Air flags operational concerns

>> According to reports, Akasa Air has chosen to fly less and give up market share in the short term to offer a more reliable network to customers, CEO Vinay Dube told employees in an internal memo on September 20, Wednesday.

2:29 PM

ALERT :: Adani Green, TotalEnergies to form 50:50 JV

>> The Board of Directors of company has approved the execution of a binding termsheet to be entered into between Adani Green Energy Twenty Three Limited and TotalEnergies SE

>> Pursuant to this, Total will make further investment (either directly or through its affiliates) of $300 million to form a new 50:50 Joint Venture Company

>> The new Joint Venture company will house 1,050 MWac portfolio, which will comprise of mix of already operational (300 MWac), under construction (500 MWac) and under development assets (250 MWac) with a blend of both, solar and wind power

 

2:14 PM

ALERT :: Escorts Kubota Board approves incorporation of NBFC arm

>> The Board has approved the proposal to incorporate a wholly-owned subsidiary company as a Non-Banking Financial Company to finance the company’s products/customers.

2:03 PM

Equity FDI into India declines sharply to $5.7 bn in April-July period

The net FDI, inflows minus outflows, declined from $17.28 billion in April-July 2022 to $5.70 billion in April-July 2023 on account of moderating gross FDI and a rise in repatriation. READ MORE

1:51 PM

UK inflation in surprise fall in Aug, though BoE still set to raise rates

It said that lower hotel and air fare costs and a moderation in food price rises helped offset an increase in energy prices on the back of higher crude oil prices. READ MORE

1:40 PM

Digikore Studios IPO to open on September 25 on NSE EMERGE

Digikore Studios Limited (Digikore), a renowned visual effects (VFX) studio in India, is set to launch its Initial Public Offering (IPO) on NSE EMERGE on Monday, September 25, 2023.

 

The IPO comprises a total of 17.82 lakh equity shares, including a fresh issue of 12.61 lakh shares and an Offer for Sale (OFS) of 5.22 lakh shares in the price band of Rs 168 to Rs 171 per equity share.

 

1:29 PM

Surya Roshni gains 4% in weak market on fixing record date for stock split

The company has fixed October 6, 2023 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for subdivision of equity share in a ratio of 2:1. READ MORE

1:17 PM

Market check:: Bank Nifty slips nearly 1.5%; HDFC Bank drags

1:00 PM

Economy doing well even in unsupportive global environment: RBI MPC member

"But over-reaction to the global financial crisis after 2008 and many corruption scandals weakened the economy," she said. READ MORE

12:47 PM

Asian Market Update:: Shanghai, Nikkei, Hang Seng slip over 0.5%

Source: Yahoo Finance

12:32 PM

Dairy stocks: Ice cream topping crackle likely to attract 18% GST on AAR ruling

The crackle sold to companies for use as toppings on ice creams may now be subject to a higher goods and services tax (GST) rate of 18 per cent, and not 12 per cent. READ

12:20 PM

Sensex tanks 678 pts, Nifty breaks 20,000: Why are markets falling today?

Analysts had been warning of potential risks building up for the markets in the near-term including boiling crude oil prices, surge in US Treasury yields, and selling by foreign portfolio investors (FPIs). READ

12:08 PM

Sensex, Nifty in correction mode; Watch out for these key levels

Domestic equity markets took a sharp U-turn on Wednesday amid fears that Foreign Portfolio Investment flows to India may take a hit in the backdrop of deteriorating India-Canada ties.

 

Investors also resorted to profit-taking ahead of the US Federal Reserve meet outcome later tonight on interest rates and the forward looking commentary. The US Fed is expected to keep rates unchanged. READ