Sensex sinks 434 pts in fag-end, Nifty holds 22,050; ZEE tanks 14%

Stock market highlights on February 21, 2024: In the broader markets, the BSE MidCap index fell 1.27 per cent, while the BSE SmallCap index declined 0.84 per cent

2:03 PM

Mutual funds continued to buy Paytm in January, with a few exceptions

Before crashing by 55 per cent from 31st January till date, the mutual fund industry’s shareholding in Paytm increased by 41 per cent in January 2024 from December 2023, shows data analysed by Fisdom Research. Read

1:46 PM

DB Realty to raise Rs 1,500-2,000 crore QIP issue, says report

1:30 PM

Sterlite Tech soars 9% on entering into strategic partnership with Lumos

Sharea of Sterlite Technologies zoomed 9.2 per cent to Rs 147 per share on the BSE in WEdnesday's intraday trade after the company entered into a strategic partnership with Lumos for its fiber optic internet programme in the mid-Atlantic region. Read

1:18 PM

Wipro announces collab with Intel Foundry for chip design innovation

IT services major Wipro, on Wednesday, announced an expanded collaboration with Intel Foundry in a bid to accelerate chip design innovation. “As the key design services and alliance partner, Wipro will work with Intel Foundry to accelerate the development of Intel’s most advanced process nodes, including the Intel18A process node,” the company said in a regulatory filing. Read

1:05 PM

Indian banks' rush for clients set for reckoning after Paytm fiasco

For Indian regulators seeking to crack down on potential fraud in the financial sector, Paytm may just be the beginning.

 

India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that had attracted backing from Warren Buffett and SoftBank Group Corp. Read

12:51 PM

BluSmart, Tata Power subsidiary sign agreement to source green power

Indian electric vehicle (EV) ride-hailing and charging infrastructure network BluSmart on Wednesday announced that it has signed a multi-year Power Purchase Agreement (PPA) with Tata Power Trading Company Limited (TPTCL), a subsidiary of Tata Power, to source green power. Read

12:39 PM

HDFC Bank, ITC: 5 Nifty stocks trading far away from their 52-week highs

The NSE Nifty 50 index has been scaling new all-time highs for the last three straight trading sessions. On Wednesday, the benchmark index touched a summit at 22,249, and was seen quoting around 22,210 - up over 2 per cent so far this month.

12:22 PM

Banks form special panel to address corruption cases, guard executives

Banks have established a panel led by former Central Bureau of Investigation (CBI) special director DC Jain to devise strategies and frameworks for effectively handling cases involving lenders under the Prevention of Corruption Act, according to a report by the Economic Times (ET). Read

12:05 PM

Will IT sector be the dark horse of 2024 on rate cuts? What analysts say

Investors have reinvigorated shares of IT companies in the past one year. From being the worst hit sectoral pocket in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty50 benchmark. Read

11:54 AM

ABB India rallies 9% as order book rises 35% in Dec qtr, PAT jumps 13%

ABB India shares rallied 9.3 per cent to Rs 4,945 per share, nearing their 52-week high level of Rs 4,984, on the BSE in Wednesday's intraday trade after the company reported around 13 per cent rise in net profit in the December quarter. Read

11:45 AM

Zee refutes report of Rs 2,000 crore accounting 'hole', calls it 'false'

Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday refuted the report which said that the Securities and Exchange Board of India (Sebi) has found that about Rs 2,000 crore may have been diverted from the company. Read

11:33 AM

Union Bank of India shares surge 7% as it launches Rs 3,000-crore QIP

Shares of Union Bank of India (UBI) jumped 6.8 per cent to Rs 150.7 per share in Wednesday's intraday trade after the public sector bank (PSB) opened fund raise via qualified institutional placement (QIP) on February 20, 2024. READ MORE

11:17 AM

ALERT:: ABB India soars 9% post December quarter earnings

ABB India december quarter net profit rose 13 per cent YoY to Rs 345 crore, backed by a 35 per cent surge in revenue from operations at Rs 2,757 crore.

11:02 AM

Hindalco Ind gains 5% on report of Novelis Inc's likely IPO in US

On successful completion of its IPO, Novelis will be among the few subsidiaries of Indian companies to be listed separately on foreign bourses. READ MORE

10:48 AM

ALERT:: Devyani International up 2% on heavy volumes; block deal buzz