Stock Market Highlights, May 16: Sensex swings 1220 pts intraday, ends 677 pts up; Nifty holds 22400

Stock Market Highlights on Thursday, May 16, 2024: M&M, Tata Consumer Products, Tech M, Bharti Airtel, LTIMindtree, Infosys, Titan, and HDFC Life were the top gainers

1:54 PM

Somany Ceramics shoots up 20% on strong jump in profits; brokerage upbeat

Shares of Somany Ceramics shot up by 19.9 per cent at Rs 745.65 on the BSE in Thursday's intraday trade. The stock price of the company soared after it staged a strong show in its quarterly earnings for the January-March quarter of the fiscal year 2023-24 (Q4FY24). Read more

1:41 PM

Nifty MNC index at new high; Honeywell, 3M India, Schaeffler gain up to 9%

Shares of multi-national companies (MNCs) continued their northward movement, with the Nifty MNC Index hitting a new high of 28,590, gaining nearly 1 per cent in Thursday's intraday trade. The spurt comes after various companies reported healthy March quarter earnings and gave a strong outlook. Read more

1:24 PM

HOAC Foods IPO Day 1: Check subscription status, GMP, financials & more

Hariom Atta & Spices (HOAC Food India) has garnered considerable investor interest with its initial public offering (IPO) on Day 1 of the subscription. The HOAC Foods India IPO, which opened on Thursday, May 16, has been oversubscribed 13.57 times, indicating robust demand from investors. By 12:31 PM, the IPO had received an impressive 1,56,78,000 bids, surpassing the 11,55,000 shares offered in the IPO. Read more

1:09 PM

Nifty Realty soars 1.60 per cent in a weak market

12:44 PM

Norway excludes Adani Ports from govt pension fund over ethical concerns

Norges Bank, Norway's central bank, on Wednesday announced it was excluding three companies from its government pension fund due to ethical considerations. The companies are India's Adani Ports and Special Economic Zone (APSEZ), United States-based L3Harris Technologies, and China's Weichai Power.

Adani Ports, part of billionaire Gautam Adani's conglomerate, was excluded due to the fund’s concerns about its potential contribution to “serious violations of individuals' rights in situations of war or conflict”. Read more

12:38 PM

Average home prices in India up 10% in first quarter this year: Report

Average home prices in India’s top eight cities increased 10 per cent in the January-March quarter compared to the same time last calendar year, said a report on Thursday.

"The surge in housing prices is a direct consequence of the robust housing demand that we’re witnessing, especially in premium and luxury housing, by homebuyers across the country," said Boman Irani, president of CREDAI National. He was referring to ‘CREDAI – Colliers - Liases Foras Housing Price-Tracker Report Q1 2024’. Read more

12:19 PM

Broader indices outperform benchmarks

12:04 PM

Asian markets update

11:50 AM

Newly listed Aadhar Housing soars 8% after HNIs buy shares in bulk deals

Shares of Aadhar Housing Finance (Aadhar) surged 8 per cent to Rs 356 on the National Stock Exchange (NSE) in Thursday’s intra-day trade after High Net Investor (HNI) Akash Bhanshali bought 2.2 million equity shares of housing finance company on Wednesday through open market.

On May 15, listing day, Akash Bhanshali acquired 2.2 million shares worth of Rs 70.19 crore of Aadhar via bulk deals on the NSE, the exchange data shows. Akash Bhanshali purchased these shares at an average price of Rs 319.06 per share, data shows. Read more
 

11:43 AM

Honeywell Automation shares rally 8%, hit 52-week high amid strong Q4 show

Share of Honeywell Automation surged up to 7.6 per cent at Rs 53,000, hitting a 52-week high on the BSE in Thursday's intraday trade. The stock price of the company soared after it staged a strong show in its quarterly earnings for the January-March quarter of the fiscal year 2023-24 (Q4FY24).

Honeywell Automation's board announced a final dividend of Rs 100 per share for the fiscal year 2024 while releasing its Q4FY24 results. Read more

11:20 AM

Kirloksar Brothers hits new high on strong earnings; zooms 108% in 3 months

Shares of Kirloksar Brothers (KBL) hit a new high of Rs 1,880.95, as they rallied 11 per cent on the BSE in Thursday’s intra-day trade, in otherwise subdued market. In comparison, the S&P BSE Sensex was up 0.01 per cent at 72,993 at 10:35 am.

In past three days, the stock of Kirloksar Group company has surged 32 per cent after it reported a solid 57 per cent year-on-year (Y-o-Y) jump in its consolidated profit after tax (PAT) at Rs 142.7 crore in March quarter (Q4FY24). It had posted PAT of Rs 90.7 crore in Q4FY23. Read more
 

11:12 AM

Pricol shares hit 52-week high on robust March quarter results

Shares of Pricol on Thursday soared as much as 5.28 per cent to a 52-week high of Rs 462.85 per share. The surge in the stock came on the back of a strong quarter-ending March financial year 2024 (Q4FY24).

The automotive components manufacturer’s net profit climbed 39.3 per cent to Rs 41.5 crore in the March quarter of financial year 2024 (Q4FY24), from Rs 29.8 crore in the same quarter a year ago (Q4Fy23). Read more

Pricol facility

10:48 AM

Ambuja, ACC, JK, Ultratech: Will cement stocks crack under pressure?

Poor demand over the next few months as the monsoon season picks up pace, coupled with no price hikes, may keep cement stocks tepid in the near-term, believe analysts. As a strategy, however, they suggest investors accumulate related stocks on dips, encashing benefits of a rebound in the second half of the current financial year 2024-25 (FY25). Read more

10:42 AM

Titagarh Rail Systems shares zoom 9% on stellar Q4 earnings; profits rise

Shares of Titagarh Rail Systems soared by up to 9.4 per cent at Rs 1,216.30 on the BSE in Thursday's intraday trade. The stock price surge came after the Indian rolling stock manufacturer’s strong quarterly earnings for the January-March quarter of the fiscal year 2023-24 (Q4FY24).

Titagarh Rail Systems revenue saw an 8 per cent year on year (YoY) uptick, reaching Rs 1,052.4 crore in Q4FY24 compared to Rs 974.2 crore in Q4FY23. Read more

10:25 AM

Oil India stock up 5% on bonus issue plan; cut in windfall tax aids rally

Shares of Oil India rallied 5 per cent to Rs 663 on the BSE in Thursday’s intra-day trade after the company said its board will consider bonus issue in forthcoming meeting on Monday, May 20. The stock of state-owned oil exploration & production (E&P) company had hit a record high of Rs 669.05 on April 3, 2024.

Earlier, on May 10, Oil India informed that its board meeting was scheduled to be held on Monday, 20th May, 2024 inter-alia, to consider and approve the audited financial results of the company for the quarter & year ended 31st March, 2024 and recommendation of final dividend for FY23-24, if any. Read more