Sensex extends rally to fifth day, ends 486 pts up; SBI, Axis Bank zoom over 5%

Indian stock market on Thursday, April 25: The NSE Nifty ended atop the 22,550 levels, up 156 points; Kotak Bank and HUL, however, bucked the trend.

10:05 AM

Voda Idea stock rebounds 14% from intra-day low post listing of new shares

At 09:27 am; VIL was trading 0.76 per cent higher at Rs 13.20, as compared to 0.27 per cent decline in the Nifty 50. The counter has seen huge trading volumes with a combined 3,446 million equity shares changing hands on the NSE and BSE. READ MORE

9:54 AM

Electric car maker Tesla may set up manufacturing plants in India, Mexico in 2025

Tesla’s plan to manufacture its affordable electric car priced at $25,000 in India and Mexico could materialise sometime in 2025 or thereafter, with Elon Musk declaring that these models would be produced at its existing factories to utilise their full capacity before investing in new manufacturing lines. READ MORE

9:52 AM

Broaders markets are trading higher, Nifty SmallCap up 0.50%

In the broader markets, Nifty SmallCap was trading over 0.50 per cent higher while MidCap was trading marginally higher at 0.10 per cent.

 

9:47 AM

Hindustan Unilever drops nearly 2% after net profit slips

Shares of Hindustan Unilever dropped as much as 1.82 per cent to hit an intraday low of Rs 2,218 on Thursday. The fall came after fast-moving consumer goods (FMCG) company reported a slight dip in its consolidated net profit (attributable to the owners of the company) for the March quarter of 2023-24. However, the figure of Rs 2,558 crore, down 1.6 per cent year-on-year from Rs 2,600 crore, exceeded market expectations.

 

 

9:36 AM

Axis Bank rises more than 4.50% on robust Q4 performance

Shares of Axis Bank roses as much as 4.72 per cent to hit an intraday high of Rs 1,113.30 after reporting a strong set of Q4 results. The private lender’s net profit zoomed to Rs 7,129 crore for the fourth quarter ended March 31, 2024, from  a net loss of Rs 5,728 crore in the same quarter previous fiscal.

 

 

9:25 AM

Kotak Mahindra Bank locked in 10% lower circuit on RBI order

On the bourses, shares of Kotak Mahindra Bank tumbled 10 per cent to Rs 1,659 per share on the BSE on Thursday after the RBI asked the private-sector lender to stop onboarding new customers through its online and mobile banking channels, and barred it from issuing fresh credit cards. READ MORE

9:21 AM

Sensex, Nifty open lower, tracking global peers

Benchmark indices Sensex and Nifty opened lower on Thursday, tracking global peers. S&P BSE Sensex was trading 0.26 per cent lower at 73,660.23 levels while NSE’s Nifty 50 was down 0.25 per cent at 22,346.60 levels.

9:08 AM

Indian markets stand out for cheap bonds as JPMorgan index date nears

Indian equities have soared to become among the world’s most expensive, yet its bonds appear relatively cheap despite being Asia’s best performers this year.The benchmark 10-year note offers a premium of almost 270 basis points over the earnings yield for the MSCI India share index, making the country’s debt more attractive to investors just months before its inclusion in JPMorgan Chase & Co’s indexes from June. READ MORE

9:07 AM

Pre-opening session: Sensex, Nifty eye negative start

Both Sensex and Nifty were trading 0.38 per cent lower at 73,572.34 and 22,316.90 levels, respectively

9:02 AM

Tata Consumer Products: Focusing on performance of growth businesses key

Tata Consumer reported Q4 results which were more or less in line with analyst consensus but disappointed the market. The company is going through a process of reorganisation after the amalgamation of Tata Coffee and the acquisition of Organic India and Capital Foods. READ MORE

8:58 AM

RBI tells Kotak Mahindra Bank to stop issuing new credit cards

The Reserve Bank of India (RBI) on Wednesday asked private-sector lender Kotak Mahindra Bank to stop onboarding new customers through its online and mobile banking channels and barred it from issuing fresh credit cards. READ MORE

8:54 AM

CPPIB sells 2.8% stake in Delhivery for Rs 908 crore via open market

According to the block deal data available with the National Stock Exchange (NSE), Canada Pension Plan Investment Board (CPPIB) sold 2,04,50,000 shares, amounting to a 2.8 per cent stake in Delhivery. READ MORE

8:50 AM

Reliance's JioCinema offers hollywood movies in India for a penny a day

JioCinema, the Indian streaming service controlled by Reliance Industries Ltd., is offering Hollywood movies and TV shows for as little as one rupee (US 1.2 cents) a day in a new promotion, while keeping live programming, like cricket matches, free. READ MORE

8:45 AM

Supreme Court's whip in Patanjali case a wake-up call for the FMCG sector

With the Supreme Court cracking down on Patanjali over misleading advertisements, the advertisement industry is concerned. While industry players acknowledge that some degree of exaggeration in claims is common, the Supreme Court’s firm action signals an impending shift. READ MORE

8:41 AM

Mamaearth parent bets on Made-for-India goods in fastest-growing beauty mkt

Honasa Consumer Ltd., the newly listed parent of India’s personal-care brand Mamaearth, is taking on global giants in the world’s fastest-growing beauty market with onion hair oil and curd-and-turmeric face masks. READ MORE