Market Highlights, July 12: Sensex up 622pts, ends atop 80,500; Nifty holds 24,500; IT stocks dazzle

Stock Market Highlights on Friday, July 12, 2024: TCS shares soared nearly 7 per cent today after it posted better-than-expected June quarter (Q1) results. Infosys, Tech M, and HCL Tech followed suit

9:04 AM

Currency check :: Rupee opens at 83.53/$ vs Thursday’s close of 83.56/$

9:00 AM

IT firm TCS adds over 5,000 employees in the first quarter of FY25

Tata Consultancy Services (TCS), India’s largest information-technology services company, on Thursday announced a net headcount addition of 5,452 employees in the first quarter of 2024-25 (FY25). READ MORE

8:49 AM

Budget watch: Real estate sector wants industry status, tax relief

The real estate sector, which has seen new highs in terms of sales as well as launches in the last one year, expects the Centre to grant it the status of an industry and offer some tax breaks to support low-priced homes, several top executives told Business Standard. READ MORE

8:46 AM

ALERT :: Jio Financial receives RBI nod to convert from NBFC to Core Investment Company

8:41 AM

Yen choppy amid intervention concerns, Asian shares eye weekly gain

The yen swung between losses and gains on Friday in volatile trade, reflecting investors' skittishness after Tokyo was thought to have intervened to prop up the Japanese currency in the wake of a cooler-than-expected US inflation report. READ MORE

8:38 AM

Equity supply may hit Rs 6 trillion over next few months: Axis MF

Over Rs 2,000 crore was raised a day during the first half of the calendar year 2024. At over Rs 2.5 trillion, the equity capital market (ECM) issuance during the first six months of this year was the highest-ever semi-annual mobilisation. The deluge of equity paper will only rise in the coming months, predicts Axis Mutual Fund (MF). The money manager is expecting the domestic ECM to raise nearly Rs 6 trillion over the next few months. READ MORE

8:28 AM

Ambey Labs listing: Shares debut with 25% gains today at Rs 85 on NSE SME

Shares of SME company Ambey Laboratories listed at Rs 85 per share per share on Thursday, July 11, 2024. Ambey Labs, which listed on the NSE SME platform, delivered a listing gain of 25 per cent over the issue price of Rs 68 per share. READ MORE

8:21 AM

Mapping the share: The big and small of equity market turnover

The turnover distribution for the equity cash segment shows over 90 per cent of the investors trade for shares worth more than Rs 10 lakh during a month. But these investors account for just 8 per cent of the total turnover. READ MORE

8:17 AM

Adani Wilmar to buy 67% stake in Omkar Chemicals, aims to expand footprint

In a move aimed at expanding its footprint in the speciality chemical industry, Adani Wilmar Limited (AWL) on Thursday announced the acquisition of a 67 per cent stake in Omkar Chemicals Industries Private Limited (OCIPL), a Gujarat-based speciality chemicals firm. READ MORE

8:13 AM

TCS Q1 results: Net profit up 8.7%, margins rise despite salary hike

India’s largest IT services company Tata Consultancy Services (TCS) marginally beat Bloomberg estimates for its first-quarter (Q1) of 2024-25 performance, but macroeconomic uncertainties continued to weigh on the management’s demand outlook. READ MORE

8:10 AM

Total value of India's top 100 realty companies soars 70% in 1 year: Report

The cumulative valuation of the top 100 real estate companies in India rose by 70 per cent in the 12 months ending on May 31, 2024, according to a report released on Thursday. The report indicated that 86 of these companies saw an increase in value, contributing a total of Rs 6.2 trillion. READ MORE

8:06 AM

Anand Rathi Wealth Q1 net profit surges 38%; Canara Robeco MF launches BAF

Anand Rathi Wealth's consolidated net profit rose 38 per cent year-on-year (Y-o-Y) to Rs 73 crore in the first quarter (Q1) of the current financial year. READ MORE

8:05 AM

RBI's risk weighting hike: Mutual fund funding to NBFCs continues to grow

The funding support from asset management companies to non-banking financial companies (NBFCs) has grown over the six months ending May 2024, following the Reserve Bank of India’s (RBI’s) hike in risk weights on bank loans to NBFCs in November 2023. READ MORE

8:03 AM

Indian equity returns likely muted for remainder of the year, says Nomura

The returns from Indian equities are likely to remain muted for the rest of this year, according to Nomura. The brokerage expects the benchmark Nifty to end 2024 at 24,860, which translates to a 2.2 per cent gain from the current levels. READ MORE

8:00 AM

Global electric vehicle sales up 13% in June, decline 7% in Europe

Global sales of fully electric and plug-in hybrid vehicles rose by 13 per cent in June versus the same month in 2023 driven by growth in China, while they dropped in Europe, market research firm Rho Motion said. READ MORE