Market Highlights, June 12: Sensex up 150 pts, Nifty off record high ahead of CPI data, Fed outcome

Stock Market Highlights on June 12, 2024: Losses in Britannia Industries, M&M, HUL, Titan, Tata Consumer, Adani Ports, Axis Bank, and Infosys capped gains

2:07 PM

Muthoot Finance diversifying loan book to make customers 'stick': MD

Muthoot Finance will not sell gold loans to asset reconstruction companies as the regulator is “not comfortable”, says GEORGE ALEXANDER MUTHOOT, managing director of India’s largest gold loan nonbanking finance company (NBFC). The company had a consolidated asset under management of Rs 89,079 crore, as on March 31, 2024. Muthoot, in a telephonic interview with Manojit Saha, spoke about diversifying business and the loans industry. Edited excerpts:

1:58 PM

Elecon Engineering stock spurts 12%, hits new high on optimistic outlook

Elecon's revenue could likely grow by 20-24% CAGR over the next 3 years, driven by robust domestic demand and export opportunities arising for the company amid ongoing geopolitical events. READ MORE

1:47 PM

ALERT:: Tata Communications inks 5-year deal with World Athletics; stock up 1%

Tata Communications in an exchange filing today announced a five-year host broadcasting services deal with World Athletics, to cover World Athletics Series events, including the World Championships in Tokyo in 2025, and support World Athletics' vision of encouraging the sport through strategic initiatives across India.

1:35 PM

Gujarat Fluoro jumps 6% after unit incorporates step-down subsidiary

Gujarat Fluorochemicals stock surged 5.6 per cent at Rs 3,368 per share on the BSE in Wednesday’s intraday deals. The stock price of the company surged after the company’s subsidiary GFCL EV Products incorporated the step down subsidiary in the Sultanate of Oman namely GFCL EV SPC on 11th June, 2024. READ MORE

1:23 PM

Castrol India stock price rises over 4% on appointment of Kedar Lele as MD

The uptick in share price came after the company board appointed Kedar Lele as additional director and managing director for 5 years, with effect from November 1. READ MORE

1:11 PM

Global check:: Nikkei, Hang Seng fall in Asian trade

Source: Yahoo Finance

12:59 PM

Rites shares gain on MoU with Eastern Railway's largest shed facility

The share price surge followed Rites partnership announcement with Eastern Railway's Andal Diesel Shed. Andal Diesel Shed is the largest shed in Eastern Railway with a holding of 138 locomotives. READ MORE

12:51 PM

US Fed meeting decision, inflation data to be out today: What to expect

The US Federal Reserve is expected to keep interest rates unchanged in today's announcement. With that, all eyes will on whether it adjusts its forecasts for potential rate cuts this year. READ MORE

12:40 PM

ALERT:: Kesoram elevates Satish Jajoo to non-executive chairman; stock up 1%

Kesoram Industries in an exchange filing today said, the company's board has designated Satish Narain Jajoo, Independent Director, as Non-Executive Chairman of the board with immediate effect.

12:28 PM

Suraksha Group infuses Rs 125 cr in Jaypee Infratech, to begin stalled work

The Suraksha Group has infused Rs 125 crore equity fund in Jaypee Infratech Ltd, which it has acquired through insolvency process, as part of its resolution plan to settle banks' dues and complete around 20,000 unfinished flats in Delhi NCR. READ MORE

12:16 PM

Dream run halted; Heritage Foods stock hits second straight lower circuit

Shares of Heritage Foods were locked at the lower circuit for the second straight day, down 5 per cent at Rs 627.30 on the National Stock Exchange (NSE) on Wednesday at 11:19 am amid heavy volumes. With today’s fall, the stock of dairy products company has slipped 14 per cent from its record high of Rs 727.35 touched on Monday, June 10. READ MORE

 

12:12 PM

RBI's reserve maintenance system for banks fails on Tuesday, say traders

India's central bank system that enables lenders to manage their day-to-day liquidity needs did not work on Tuesday due to a technical issue, treasury officials said, its first such failure since it was set up nearly four years ago. READ MORE

12:04 PM

Camlin Fine Sciences up 10% on acquiring Belgium based animal food firm

Shares of Smallcap firm Camlin Fine Sciences surged 9.7 per cent at Rs 113.33 per share on the BSE in early trades on Wednesday. This came after the Indian food chemicals manufacturer’s subsidiary acquired a 100 per cent stake in Belgium based Vitafor Invest NV. READ MORE

11:58 AM

Go Digit stock price zooms 10%, hits record high on robust Q4 results

Stock of Go Digit, which listed on bourses last month, rallied as much as 10.04 per cent to hit a fresh 52-week high of Rs 372.35 per share. READ MORE

11:49 AM

These fertiliser shares can rally up to 23% amid monsoon boom forecast

Shares of fertiliser companies have been in demand so far this June on the back of above normal monsoon forecast in India. READ MORE