Stock Market Highlights, April 3: Sensex, Nifty end flat; smallcaps extend rally; Bharti Hexa IPO subscribed 30%

Stock market Update on Wednesday, April 03: Till 3:30 PM, Bharti Hexacom IPO was subscribed 30 per cent led by retail investors

2:12 PM

Forbes Billionaires 2024 list: Ambani tops India with net worth of $116 bn

Mukesh Ambani retained his position as the ninth richest person in the world and both India's and Asia's richest person in 'Forbes World's Billionaires List 2024: The Top 200'. READ MORE

1:59 PM

Global check:: Asian markets end with notable losses; Nikkei, Hang Seng slip 1%

Source: Yahoo Finance

1:48 PM

Vedanta gains 14% in five sessions. Here are four factors fuelling rally

Shares of Anil Agarwal-led commodity major Vedanta are up for a fifth straight trading session on Wednesday. After soaring 14 per cent in these five sessions, the stock has hit its highest level since February 2023. Here are five factors behind the rally: READ MORE

1:34 PM

This beaten down Ashish Kacholia-owned stock has zoomed 65% in 3 days

In the past three trading days, the stock of the company, engaged in the business of trading agro based products, has zoomed 65 per cent from a level of Rs 458.10. Pior to this, the stock price of the company had more than halved, tanking 67 per cent, from its 52-week high level of Rs 1,374 touched on August 1, 2023. It had hit a 52-week low of Rs 453.75 on March 28, 2024. READ MORE

1:19 PM

ALERT :: Inox India receives Patent Rights

>> the Company has received Patent Rights from Patents Office, Government of India titled: 'A method for suspending inner vessels of Dewar-type container to store cryogenic fluid'
 

1:05 PM

ALERT :: Gold price hits record high

>> Gold tops Rs 69,600 on MCX

>> Hits $2280 in international market

12:51 PM

IPO ALERT :: Bharti Hexacom's issue subscribed 6% so far on Day 1

12:35 PM

ALERT :: IndiGo, Malaysia Airlines sign codeshare agreement

>> Malaysia Airlines and IndiGo have signed a Memorandum of Understanding (MoU) for a codeshare partnership and mutual cooperation agreement.

>> The agreement will enable both carriers to provide customers with more options and flexibility for seamless travels between Malaysia and India.

12:20 PM

First RBI MPC meet for FY25 starts today: Here is all you need to know

Experts anticipate the RBI will maintain the key interest rate unchanged in April, focusing on steering inflation towards the four per cent target, following alleviated concerns regarding economic growth, with GDP growth projected at nearly 8 per cent. READ MORE

12:04 PM

ALERT :: USFDA classifies inspection of Granules Pharmaceuticals as 'Voluntary Action Indicated'

>> GPI has received a communication from the US FDA indicating the inspection classification as 'Voluntary Action Indicated' (VAI).

>> The VAI inspection classification indicates that the US FDA will not take or recommend regulatory or enforcement action.

>> Granules Pharmaceuticals, Inc. (GPI) is a wholly-owned foreign subsidiary of Granules, located in Chantilly, Virginia, USA.
 

11:51 AM

SAIL at 14-yr high; Can steel stocks extend rally? Here's what charts say

Tata Steel reported a record-breaking 20.5 million tonnes of steel production in FY24. SAIL too posted 5 per cent growth in crude steel production at 19.2 million tonne for the financial year ended March 2024. SAIL also achieved its highest-ever sales volume of 17.1 MT for the year. READ MORE

11:37 AM

This jewellery stock gained 4% today despite gold price hitting record high

Shares of PC Jeweller advanced 4.2 per cent to Rs 59.79 per share on the BSE in Wednesday's intraday trade after Karur Vysya Bank accepted the debt laden jewellery seller's one-time settlement offer. 

"Karur Vysya Bank Limited, vide its e-mail / letter dated April 02, 2024, has conveyed acceptance of 'One Time Settlement' proposal submitted by the company to settle the outstanding dues," PCJ said in an exchange filing. Read more

11:21 AM

Cochin Shipyard, Mazagon Dock, Garden Reach Shipbuilders rally up to 10%

Shares of ship building & allied services companies including Cochin Shipyard, Mazagon Dock Shipbuilders and Garden Reach Shipbuilders & Engineers rallied up to 10 per cent in Wednesday’s intra-day trade amid expectation of strong earnings and healthy order book position. In the past three trading days, these stocks have surged in the range of 16 per cent to 20 per cent.

Among the individual stocks, Cochin Shipyard (CSL) hit a record high of Rs 1,046.70, and surged 6 per cent on the BSE in intra-day trade today. While in the past three days, it has zoomed 20 per cent. Read more

11:03 AM

Sensex trims early losses; trades rangebound

10:46 AM

Small cap companies set to erase losses sparked by froth warnings

A key gauge of small-cap stocks in India is set to wipe out losses from last month’s lows, with bullish investors putting the regulatory warning about market froth behind them.

A eight-day rally has put the Nifty Smallcap 250 Index on course for reclaiming the Feb. 27 level when the securities regulator flagged the risk of a potential bubble in the smaller companies. Read more