Sensex rallies 467 pts, Nifty tops 18,800; RIL, HDFC duo lead, IT caps gain

CLOSING BELL ON JUNE 16, 2023: At the high point of the day, the Sensex was just 63 points shy from its record high, and the Nifty 22 points; Debutant IKIO ends at 42 per cent premium over issue price

1:00 PM

Kalyan Jewellers surges 12% after 6% equity change hands via block deals

About 6.41 million shares representing 6.2 per cent of total equity of Kalyan Jewellers changed hands on the NSE via block deals in pre-opening trade, the exchange data shows. The deal size was Rs 725 crore, data shows. The names of the buyers and sellers were not ascertained immediately. READ MORE

12:50 PM

Expert Tweets :: Nithin Kamath explains why this rebound doesn't 'feel like bull run'

12:39 PM

MARKET CHECK :: Benchmarks hover in narrow range

12:30 PM

These 5 large-caps can deliver up to 15% returns despite market volatility

However, there are selective stocks that have stood firmly against volatility, defying all negative drawdowns. Shares of UltraTech Cement and Titan Company reached new historic peaks, while ABB India hits a new 52-week high on Friday. READ MORE

12:20 PM

Banks ask RBI to frame policy for silver loans similar to gold metal loans

Under the current Gold Monetisation Scheme, 2015, banks can extend gold loans to jewellery exporters or domestic manufacturers. The loan, equivalent to the value of gold borrowed, needs to be repaid in rupees. But the borrowers also have the option to repay a part of the loan in physical gold in lots of one kilogram or more. READ MORE

12:10 PM

ALERT :: Equitas SFB gets RBI nod to re-appoint Vasudevan P N as MD-CEO

>> RBI approves Vasudevan P N's apointment as Managing Director and Chief Executive Officer of the Bank for a period of three years  w.e.f. July 23, 2023. 

12:00 PM

Heavy volumes lift Ashok Leyland 6%; investors pin hopes on better margins

The CV industry is buoyant due to favourable macroeconomic factors and a healthy demand from the end-user industries. This trend is expected to continue alongside growth in core sectors such as construction & mining, agriculture, increased capital outlay for infrastructure projects and pent-up replacement demand. READ MORE

11:50 AM

ALERT :: Nifty FMCG index hits fresh record high

11:40 AM

ALERT :: PDS Lifestyle proposes to acquire 100% stake in UK-based New Lobster

New Lobster will serve as the global hub for the Ted Baker brand and take on Ted Baker’s design and merchandising functions. Further, this entity will become a core licensee and operating partner for Ted Baker. 
 

11:29 AM

IKIO Lighting dazzles on debut; stock lists at 38% premium over issue price

"Considering the company's strong focus on research and development (R&D), backward integration, well-established relationship with clients, and the company's consistent financial performance, we suggest investors to hold this share for a longer period by keeping a stop loss 10 per cent below its listing price," said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart. READ MORE

11:19 AM

ALERT :: Hero MotoCorp says company has not received any communication from MCA

>> The Company has not received any communication from MCA with regard to the media reports dated 15th June, 2023 and hence cannot comment on the same.

>>We will provide all information, if and when it is sought from the Company by any regulatory authority.

>> Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, is a responsible, law abiding and much-admired Indian multinational, and known for following global best governance practices.
 

11:09 AM

GST Council to meet in Delhi on July 11, may resolve online gaming issue

In its report, the panel held to its earlier position of 28 per cent tax rate on the full value, including winnings. Since the panel failed to reach a conclusion, it had referred the matter back to the Council. 
 

“Some of the states are not in favour of treating them on par with betting and gambling. Also, they are of the view that tax rates should not be high as it would discourage technology-driven games,” a government official privy to the discussion said. READ MORE
 

10:58 AM

Four major western banks cut China's 2023 GDP forecast as recovery falters

Data on Thursday showed China's economy stumbled in May with industrial output and retail sales growth missing forecasts, adding to expectations that Beijing will need to do more to shore up a shaky post-pandemic recovery. READ MORE

10:47 AM

RK Forgings, Titagarh Rail hit record highs; stocks zoom up to 93% in CY23

A consortium between RK Forgings and TRSL has been awarded the contract to manufacture and supply 15,40,000 forged wheels over a span of 20 years, under the Atmanirbhar Bharat Initiative by Ministry of Railways, Government of India. READ MORE

10:37 AM

Govt set to garner record Rs 63,000 crore in dividend from listed PSUs

The government’s dividend for FY23 could rise further because a few PSUs such as Gail (India), Hindustan Copper, and Balmer Lawrie are yet to declare their final equity dividend. READ MORE