Stock Market Highlights, May 21: Market-cap of BSE-listed firms hits $5 trillion mark

Stock Market Highlights on Tuesday, May 21, 2024: The S&P BSE Sensex ended at 73,953, down 53 points, while the Nifty50 ended above 22,500, up 27 points

1:45 PM

March Quarter Results :: Aether posts Q4 loss of Rs 1.4 cr vs profit of Rs 37.6 crore YoY

>> Ebitda falls to Rs 9.4 crore vs Rs 59.6 crore YoY

>> Ebitda margin at 8.17% vs 32.45% YoY

1:30 PM

Crude oil to trade in narrow range ahead of Opec meeting; check key levels

Oil prices have been trading in a tight range of $5 in last three weeks as market is awaiting for OPEC+ scheduled meet on June 1. Although we do not see much possibilities that the cartel will suddenly decide to roll back its voluntary cuts, but friction among the intra-cartel remains high and Iraq, Kazakhstan, and Nigeria continue to breach their official quotas. READ MORE

1:15 PM

Nifty Metal index hits record high on May 21; what's fuelling the rally?

The Nifty Metal index surged 3.45 per cent on Tuesday, to hit a record high of 9,944.65 points. By comparison, the Nifty50 index saw a modest increase of 0.16 per cent, and was trading at 22,537.85 points, at 12:35 PM.

The surge in the metal index, analysts believe, is largely credited to Vedanta's robust Q4 performance and its first interim dividend declaration of Rs 11 for FY25, which has considerably bolstered the index on its own. Read more

1:03 PM

PE exits in India surge 355% in first quarter of 2024, hit 50 deals: report

Private equity (PE) exits in India witnessed a phenomenal surge in Q1 2024, marking a significant shift in the investment landscape. The quarter saw a staggering 354.5 per cent increase in PE exits compared to Q1 2023. This translates to a jump from just 11 exits in the previous year's first quarter to a robust 50 exits in Q1 2024,  according a report by Mazars  in India, a global audit, tax, and advisory services firm. Read more

12:45 PM

This stock has zoomed 1172% against IPO price in 5 yrs; m-cap hits Rs 1 trn

Polycab India joined the elite club of companies having market capitalisation (market cap) of Rs 1 trillion, as the stock price of the wires and cables (W&C) maker hit a new high of Rs 6,843.80, rallying 5 per cent on the BSE in Tuesday’s intra-day trade. Read more

12:31 PM

Nifty Metal soars over 3%, hits record high

12:13 PM

Vedanta nears record high on improved outlook; zooms 94% from March low

Shares of Vedanta hit a fresh 14-year high of Rs 483.75, surging 5.5 per cent on the BSE in Tuesday’s intra-day trade on improved outlook. The stock is trading close to its record high of Rs 494.30 touched on April 8, 2010.

In past three trading days, it rallied 12 per cent after the company on May 16, declared first interim dividend of Rs 11 per equity share on face value of Re 1 per equity share for the financial year 2024-25. The company has fixed May 25, 2024 as the record date for the purpose of payment of dividend. Read more

11:59 AM

Asian markets update

11:45 AM

Wheels India shares zoom 19% on healthy Q4 results; up 23% in 5 sessions

Shares of Wheels India zoomed as much as 18.93 per cent to hit an intraday high of Rs 700 per share on Tuesday. 

The uptick came after the company posted a strong set of Q4 numbers. Wheels India’s net profit soared 79 per cent on a year-on-year (Y-o-Y) basis to Rs 38.3 crore, as opposed to Rs 21.4 crore in the same quarter a year ago (Q4FY23). Read more

11:29 AM

Nomura upgrades Vodafone Idea to 'Neutral'; sees 13% upside; details here

Vodafone Idea's March quarter (Q4) results for financial year 2023-24 (FY24) have raised hopes that the telecom service provider may finally see the light at the end of the tunnel; even if the tunnel is long. READ MORE

11:18 AM

Govt reaffirms restrictions on import of non-compliant electronic products

India has reaffirmed restrictions on the import of unregistered or non-compliant electronics products, an order that has been in place since 2021, according to a government order dated Monday. READ MORE

11:08 AM

Sell smallcap, midcap stocks; markets will offer buy-on-dip opportunities: UBS

The sharp run in the Indian smallcap and midcap stocks in the last few months has made analysts at UBS cautious on these two market segments. In a recent note, they suggested investor’s book profit in small-and mid-cap stocks and stick to the safety of their large-cap peers. READ MORE

10:58 AM

This defence stock has zoomed over 45% in 6 days ahead of stock split

Shares of Bharat Dynamics hit a new high of Rs 2,689.40 as they rallied 10 per cent on the BSE in Tuesday's intraday trade amid heavy volumes, in an otherwise weak market. READ MORE

10:52 AM

IRFC shares zoom 5% amid strong Q4 results, Rs 50,000 cr fund raise plan

Shares of Indian Railway Finance Corporation (IRFC) rose 4.6 per cent at Rs 181 a piece on the BSE in Tuesday’s intraday trade. The stock prices of IRFC zoomed after the public sector undertaking reported strong net profits in the fourth quarter of financial year 2023-24 (Q4FY24). READ MORE

10:41 AM

Samsung replaces chip chief with veteran exec Jun as SK Hynix takes AI lead

Samsung Electronics has replaced the chief of its semiconductor division in a bid to overcome a "chip crisis", amid a booming market for AI chips where the world's biggest memory chipmaker has lagged peers. READ MORE