Stock Market Highlights, May 10: Sensex snaps 3-day losing run, ends 260 pts up; Nifty reclaims 22K

Stock Market Wrap Friday, May 10: RIL, ITC and Airtel led the rally; broader indices - MidCap and SmallCap - outran the benchmark indices and finished 0.8 per cent higher.

SI Reporter New Delhi

Markets continue to rally on RBI policy fillip; Sensex rises 164 points

11:29 AM

Here's how much royalty Tata Group companies will pay for the Tata name

Tata Group companies pay a brand subscription fee for the privilege of using the 'Tata' name. Here is how much they will need to pay now. READ MORE

Bombay House, the headquarters of the Tata group in Mumbai. Tata Sons said its board felt that the move to turn into a private limited firm was in its best interest

11:17 AM

SRF gains 2% as street pins hopes on chemical business recovery in H2FY25

The rise in stock came on hopes of recovery in the chemical business, which will pick up pace in the second half of FY25. READ MORE

agrochem fertiliser chemical agriculture farmer

11:04 AM

Biden set to impose tariffs on China's electric vehicles, strategic sectors

President Joe Biden is set to announce new China tariffs as soon as next week targeting strategic sectors including electric vehicles, according to two people familiar with the matter.

The full announcement, which could take place as soon as Tuesday, is expected to largely maintain existing levies, according to one of the people. An announcement could also be pushed back, the person said. Read more

10:40 AM

Intellect Design Arena stock tanks 16% on heavy volume post Q4 results

Shares of Intellect Design Arena tanked 16 per cent to Rs 864.35 on the BSE in Friday’s intra-day trade on profit booking after the company reported disappointing earnings for the March quarter (Q4FY24), with reported revenue of Rs 612 crore, down 3.6 per cent quarter-on-quarter (QoQ) and down 1.4 per cent year-on-year (YoY). Revenue was hit due to termination of GeM contract. Read more

10:28 AM

Abbott India rises 4% on strong Q4 performance

Shares of Abbott India rose as much as 4.05 per cent to hit an intraday high of Rs 26,593.75 apiece. The surge came after the pharmaceutical company announced a strong set of numbers in the quarter-ending March (Q4FY24) earnings. Read more

10:16 AM

VST Tillers Tractors tanks 6% on sluggish Q4 earnings; net profit drops

Shares of VST Tillers Tractors fell 6 per cent at Rs 3,222 a piece on the BSE in Friday’s intraday trade. The stock prices dipped after the company reported a sluggish quarter four earnings of the financial year 2023-24 (Q4FY24). Read more

10:03 AM

BPCL stock surges 5% on 1:1 bonus issue; hefty dividend announcement

Shares of Bharat Petroleum Corporation (BPCL) rallied 5 per cent to Rs 621.80 on the BSE in Friday’s intra-day trade after the company's board recommended issue of bonus shares in the ratio of 1:1 i.e. one new bonus equity share for each existing shares.

The board also has recommended a final dividend of Rs 21 per equity share of face value of Rs 10 each (pre-bonus), which translates into final dividend of Rs 10.5 per equity share (post-bonus). Read more

9:49 AM

Rupee aided by dip in US yields, while election uncertainty weighs

The Indian rupee on Friday will be aided by the drop in US Treasury yields on indications that the US labour market is cooling, while contending with dollar outflows spurred by worries over the election results.

Non-deliverable forwards indicate the rupee will open at 83.48-83.50 to the US dollar, compared with 83.5025 in the previous session. Read more

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9:32 AM

Why is Chris Wood of Jefferies turning bullish on China equities?

Christopher Wood, global head of equity strategy at Jefferies is turning bullish on China equities and believes China is the story of the moment in the emerging market equity space as things stand.

He has hiked exposure to the dragon nation in his Asia Pacific ex-Japan relative-return portfolio by two-and-a-half percentage points to maintain a ‘Neutral’ weighting. This hike in exposure, Wood said, will be paid for by reducing the weight in Indonesia and Korea by one-and-a-half percentage points and one percentage point, respectively. Read more