Sensex slides 1,053 pts, Nifty ends below 21,250; ZEE plunges 31%, RIL 2%

Stock market highlights on Tuesday, January 23: The BSE MidCap and SmallCap indices fell nearly 3 per cent each. Sectorally, the Nifty Media index crashed 13 per cent

1:56 PM

ALERT:: VST Industries Q3 net dips 32%; stock slips 3%

VST Industries today reported a 32 per cent dip in Q3FY24 net profit at Rs 53.72 crore when compared with Rs 78.98 crore in Q3FY23. Total income, however, was up 4 per cent YoY at Rs 477.14 crore.

1:43 PM

L&T's Heavy Engineering unit bags 'significant' orders in India, overseas

The company did not disclose the value of orders. However, according to company, the value of significant order is between Rs 1,000 crore and Rs 2,500 crore. READ MORE

1:31 PM

Govt raises import duty on gold, silver jewellery findings to 15% from 11%

In a notification issued on Monday, India's Ministry of Finance also hiked the import duty on spent catalysts containing precious metals to 14.35 per cent from 10.1 per cent. READ MORE

1:19 PM

Market check:: Bank Nifty slips nearly 2%; IndusInd Bank sheds 5%

1:07 PM

HDFC Bank hits 52-wk low; wipes Rs 1.9 trn m-cap with 15% fall in 1 week

The stock slipped nearly 4% to Rs 1,425.05 on the BSE in intra-day trade, falling below its previous low of Rs 1,460.55 touched on October 26, 2023. READ MORE

12:51 PM

Net FDI in India down to $ 13.54 billion in Apr-Nov 2023, shows RBI data

Net foreign direct investment (FDI) in India, which is calculated as inflows minus outflows, declined to $13.54 billion in April-November 2023 from $19.76 billion during the same period in 2022. This decline was primarily due to a fall in global inflows and an increase in the repatriation of equity capital. Read

 

12:39 PM

Rupee depreciates 6 paise to 83.13 against US dollar in early trade

The rupee depreciated 6 paise to 83.13 against the US dollar in the morning session, amid elevated crude oil prices and dollar demand from importers.
 

Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows. Read

12:27 PM

Market Check :: Sensex down nearly 600 pts

12:12 PM

Groww faces technical glitches, users complain of login issues on app

On Tuesday morning, social media platform X (formerly Twitter) was flooded with complaints as users of the Groww app expressed complaints about encountering technical issues. Several users reported that the app was not allowing them to log in, and the few that did were not able to see their balance or execute orders. Read

11:56 AM

Swiggy shareholder Prosus may receive promoter tag in platform's IPO launch

Prosus, the largest shareholder in Swiggy, may be classified as a promoter in the upcoming initial public offering (IPO) of the online food and grocery delivery company, according to a report by The Economic Times (ET).

Prosus, the Dutch-listed investment arm of South African conglomerate Naspers, has been attempting to reduce its holding in Swiggy from 33 per cent to below 26 per cent. However, talks with potential investors for the stake reduction have not been successful. Read

11:45 AM

Equity, money markets in the US remain polarised, says Chris Wood

Equity and money markets in the United States (US) remain polarised and are betting on two different outcomes in the months ahead, wrote Christopher Wood, global head of equity strategy at Jefferies in his latest note to investors, GREED & fear.
 

While the US stock market, he wrote, is priced for an idealised soft landing of the economy, the money markets are priced for a degree of monetary easing, which only seems likely in the event of a recession. Read

11:31 AM

Swiggy shareholder Prosus may receive promoter tag in platform's IPO launch

Prosus, the largest shareholder in Swiggy, may be classified as a promoter in the upcoming initial public offering (IPO) of the online food and grocery delivery company, according to a report by The Economic Times (ET). Read

11:14 AM

Medi Assist Health sees decent debut, lists at 11% premium over issue price

Medi Assist Healthcare Services made a strong market debut with its shares listing at Rs 465 on BSE, a premium of 11 per cent over its issue price of Rs 418 on Tuesday.
 

On the National Stock Exchange (NSE), the stock of the insurance distributors company opened at Rs 460, up 10 per cent over its issue price. Read

11:01 AM

ICICI Bank's profitability solid despite AIF provisioning, margin pressure

Indian private sector lender ICICI Bank (BBB-) is expected to maintain healthy earnings despite a rising cost of funds and a one-time hit from provisions on alternative investment funds (AIF), according to S&P Global Ratings. Read

10:49 AM

Persistent Systems zooms 10% on strong Q3 results; okays 1:2 stock split

Shares of Persistent Systems surged 10 per cent to Rs 8,716.65, also its new high on the BSE in Tuesday’s intra-day trade after the company reported healthy earnings with a 20.2 per cent YoY jump in its net profit at Rs 286.13 crore for the December quarter (Q3FY24). Read