Benchmarks end flat, Smallcaps decline; energy, metal, IT stocks slip

Stock market live updates on March 4, 2024: JSW Steel, Tata Steel led losses among largecaps after CLSA downgraded the two stocks to 'sell', reducing their target prices

3:04 PM

At 4.3% in FY25, inflation may head lower than RBI forecast, estimates CMIE

Inflation may decline for two years in a row. Inflation is likely to fall to 4.3 per cent in the financial year 2024-25 from 5.4 per cent in the financial year 2023-24, according to an estimate by the Centre for Monitoring Indian Economy (CMIE). READ MORE

2:50 PM

ALERT:: RK Swamy IPO sails through on Day 1 of the offer period

RK Swamy Rs 423 crore IPO was fully subscribed on Day 1 of the offer period. Retail investors quota received bids for up to 5 per cent of the alloted quota. HNI segment was subscribed 1.3 times.

2:35 PM

After up to 605% rally in 1 year, wind energy stocks hit by policy overhang

Shares of companies involved in wind energy generation declined up to 5 per cent amid reports that the government may end reverse auctions in the wind energy sector. READ MORE

2:19 PM

Rs 2 lakh as deduction: How to maximise tax saving with National Pension Scheme

Tax season is around the corner and many of us are hunting for investment opportunities to reduce our taxable income by Rs 1.5 lakh and save up to Rs 46,800 on taxes. While there are many tax-saving avenues like Equity Linked Savings Scheme ( ELSS), Public Provident Fund, National Savings Certificate etc, the National Pension Scheme is one such scheme that not only can build a sizable retirement kitty but will also reduce your taxable income by an additional Rs 50,000.  READ MORE

2:08 PM

MOIL soars 12% on reporting 15% YoY jump in manganese ore output for Feb

For April-February, the production of Mn ore has been 15.84 lakh tonnes, which also marks the highest ever output in a financial year, it said. READ MORE

1:54 PM

ALERT:: Indiabulls Housing Finance repays $149 mn FCCBs borrowing; stock down 2%

ALERT:: Indiabulls Housing Finance in an exchange filing today said the company transferred ~$148.71 million Mn (Rs 1,249 crore) to Deutsche Bank AG, towards interest and principal repayment of FCCBs borrowings availed in March 2021 from Foreign Investors.

1:40 PM

Moody's raises India growth forecast to 6.8% on stronger economic data

India's real GDP expanded 8.4 per cent year-over-year in the fourth quarter of calendar year 2023, resulting in a 7.7 per cent growth for full-year 2023. READ MORE

1:26 PM

Stock of this December 2023 listed IPO has more than doubled since debut

Azad Engineering hit a new high of Rs 1,400 in an otherwise range-bound market owing to healthy outlook on Monday. READ MORE

1:11 PM

Jefferies' 7 predictions for the next 7 years for the Japanese markets

Nikkei 225 index hit the 40,000 mark for the first time ever on Monday, continuing its bull-run that saw the index reclaim its 1989 peak of 34,000 levels in February. READ MORE

12:57 PM

PM Modi launches development projects worth Rs 56,000 crore in Telangana

Prime Minister Narendra Modi on Monday dedicated to the nation and laid the foundation stone of multiple development projects related to power, rail and road sectors in Telangana worth more than Rs 56,000 crore. READ MORE

12:41 PM

Pre-election rally: Can Nifty hit 24,000 in March? Here's what history says

The BSE Sensex has gained on an average 7.7 per cent in the month of March in the last three general election years. Will history be repeated? READ MORE

12:27 PM

Data Patterns extends rally post Florintree Capital exit; up 72% in 15 days

The Singapore Sovereign Wealth Fund GIC acquired over 6 per cent stake valued at Rs 650 crore in the company via open market. READ MORE

12:16 PM

ALERT :: Mufin Green Finance incorporates subsidiary called Mufin Green Infra

>> Mufin Green Infra Limited is incorporated to establishing EV Charging infrastructure/power/energy generating stations, charging stations including, Civil Work, buildings, structures etc

12:02 PM

ALERT :: Biocon secures Canada market entry date for YESAFILI

>> Biocon Biologics Ltd has announced the signing of a settlement with Bayer Inc. and Regeneron Pharmaceuticals, Inc.

>> This Agreement paves the way for the introduction of YESAFILI, a proposed biosimilar to EYLEA (aflibercept) Injection, into the Canadian market.
 
Check details here

11:48 AM

ALERT :: Adani Ports reports 35.4 MMT of total cargo volume, up 33% Y-o-Y

>> While most ports observed a YoY jump in volumes, Dhamra Port recorded its highest-ever monthly cargo of 4.22 MMT.

 

>> During the initial 11 months (Apr’23-Feb’24) of FY24, APSEZ has already handled 382 MMT of cargo

>> Co is on track to surpass the 400 MMT mark before the end of the current financial year.
 

>> Record growth continued in the logistics segment with YTD rail volumes of around 542,000 TEUs (+21% YoY) and GPWIS volumes of around 18 MMT (+40%)