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

10:22 AM

Dixon Technologies stock up 176% in one year; check reasons here

Shares of electronics manufacturer, Dixon Technologies, rose 1.92 per cent to hit an intraday high of Rs 8,253 per share on Thursday, a day after the company posted robust financial results in Q4FY24.

The company's Q4 profit surged 24.7 per cent to Rs 98.5 crore. Its revenue climbed 52 per cent to Rs 4,658 crore. Ebitda also increased 17.3 per cent to Rs 183 crore, although the margin experienced a slight decline to 4 per cent. Read More

10:00 AM

NCC shares surge 7% on strong Q4 performance

Shares of NCC surged as much as 6.63 per cent to hit an intraday high of Rs 267.70 per share on Thursday after announcing a strong set of results. 

The industrial building construction company’s net profit increased 25.2 per cent to Rs 239.2 crore in the fourth quarter of financial year 2024 (Q4FY24), from Rs 191 crore in the the same quarter last year (Q4FY23).
 

9:43 AM

UBS gives Buy rating to PI, Navin; initiates coverage on 4 chemical stocks

Switzerland based global brokerage firm, UBS in a recent note said that  investors may be ignoring Indian chemicals companies' strong niche positions and growth opportunities amid the worst global destocking cycle in chemicals over the past 30 years. However, the brokerage said that it  sees signs of modest volume recovery. 

Owing to the growth potential in the Indian chemical companies UBS has initiated coverage on four firms including PI Industries and Navin Fluorine International with ‘Buy’ ratings. Others, Read more

 

9:31 AM

Gold price rises Rs 10 to Rs 73,260, silver jumps Rs 100 at Rs 87,700

The price of 24-carat gold jumped Rs 10 in early trade on Thursday, with ten grams of the precious metal trading at Rs 73,260, according to the GoodReturns website. The price of silver rose Rs 100, with one kilogram of the precious metal selling at Rs 87,700. The price of 22-carat gold was up by Rs 10, with the yellow metal selling at Rs 67,160. Read more

9:26 AM

Nifty IT, Fin Services lead sectoral gains

9:24 AM

MidCap, SmallCap indices climb in early trade

9:22 AM

LTI Mindtree, Bharti Airtel lead on Nifty50

9:20 AM

Heatmap check

9:19 AM

Opening Bell:: Nifty above 22,300

9:17 AM

Opening Bell:: Sensex upwards of 73k mark, hikes over 300 points

9:15 AM

Pre-open: Nifty jumps 100 points at 22,319 levels

9:07 AM

Pre-open: Sensex climbs over 350 points

9:04 AM

Currency check :: Rupee opens at 83.47/$ vs Wednesday's close of 83.50/$

9:01 AM

State Bank of India hikes short term retail FD rates by 25-75 bps

In case of bulk deposits, those of Rs 2 crore and above, the increase was between 10-50 basis points across short, medium buckets. According to a senior SBI official, the rate action was meant to meet credit demand requirement which remains strong.  READ MORE

8:57 AM

ALERT :: Snippets from IOL Chemicals' investor presentation