Sensex extends rally to 6th day, ends 333 pts higher; Nifty reclaims 19,800

CLOSING BELL ON SEPTEMBER 08, 2023: L&T, Airtel and banks were the major movers on Friday; the S&P BSE Sensex has rallied 1,767 points in the last six straight trading sessions.

12:29 PM

You can now withdraw cash from ATM using UPI: Here's how this will work

Hitachi Payment Services earlier this week launched India’s first UPI-ATM, in association with the National Payments Corporation of India,  offering secure cardless cash withdrawals. READ MORE

12:15 PM

Power related stocks in demand; NTPC, PFC, REC, Tata Power rally up to 9%

NTPC and Tata Power Company from power utilities, and REC and Power Finance Corporation from power finance surged in the range of 4 per cent to 9 per cent on the BSE. Torrent Power, CESC, Adani Power and BHEL were up in the range of 2 per cent to 3 per cent. In comparison, the S&P BSE Sensex was up 0.14 per cent at 66,359 at 11:13 AM. READ MORE

12:00 PM

ALERT :: Railways stocks in focus; stocks rally up to 6%

11:45 AM

After Q1FY24 results, Street positive on IDFC First Bank's growth strategy

Provisions were flat sequentially (up 55 per cent YoY) at Rs 480 crore and net profit was at Rs 770 crore (up 61 per cent YoY and down 5 per cent QoQ) READ MORE

11:30 AM

ALERT :: Law suit filed against Natco Pharma, partner in US

>>  Celgene Corporation, Bristol Myers Squibb, Breckenridge Pharmaceutical Inc. and Natco Pharma Ltd. have been named defendants along with others in an antitrust lawsuit in the US by Louisiana Health Service & Indemnity Company D/B/A Blue Cross and Blue Shield of Losisiana and HMO Louisiana Inc., regarding Pomalidomide (POMALYST).

>> Natco believes this matter is without merit. Breckenridge is the ANDA holder and distribution partner for the generic product in the US.
 

11:17 AM

Crypto can't be legal tender; blanket ban not easy: IMF-FSB paper

Crypto assets should not be granted official currency or legal tender status, the much-awaited synthesis paper by the International Monetary Fund (IMF) and Financial Stability Board (FSB) has said ahead of the G20 leadership summit under India’s presidency. However, the report has argued against a blanket ban on activities linked to crypto assets, explaining that such a move can be costly as well as technically demanding to enforce. READ MORE

11:05 AM

Natco Pharma among defendants in antitrust lawsuit For Pomalidomide in US

Celgene Corporation, Bristol Myers Squibb, Breckenridge Pharmaceutical Inc. and Natco Pharma have been named defendants along with others in an antitrust lawsuit in the US by Louisiana Health Service & Indemnity Company regarding Pomalidomide, an anti-cancer medication.

10:56 AM

Regulations of global cryptocurrency assets to be focus of G20 summit

Under the leadership of India's presidency, the G20 countries are poised to introduce what could be recognised as the first-of-their-kind regulations governing cryptocurrencies. READ

10:41 AM

Silver likely to touch Rs 85,000 in 12 months, buy on dips: Motilal Oswal

Brokerage Motilal Oswal expects silver to hit Rs 85,000 in the next 12 months and has recommended a buy-on-dips strategy to investors. 

 

Notwithstanding the recent correction in silver, investors should continue to accumulate this precious metal at lower levels, it suggested. READ

10:26 AM

Mazagon Dock Shipbuilders surges 19% on signing of MSRA with US Government

Shares of Mazagon Dock Shipbuilders (MDL) hit a record high of Rs 2,383, surging 18.9 per cent on the BSE in Friday's intraday trade after the company signed the Master Ship Repair Agreement (MSRA) with NAVSUP Fleet Logistics Center (FLC) Yokosuka, an entity of the US Government. READ

10:14 AM

Tejas Networks hits new high, gains 5% on receiving Rs 750 cr from TCS

Shares of Tejas Networks rallied 4.7 per cent to hit a new high at Rs 935 on the BSE in Friday's trade after the company said it received Rs 750 crore for the BSNL project.

 

At 09:42 AM, the stock had pared some gains and was up 1.5 per cent at RS 907. The counter saw trades of around 30,000 shares on the BSE as against the two-week average volume of around 72,000 shares. Meanwhile, the S&P BSE Sensex was up 0.3 per cent at 66,471. READ

10:00 AM

Transformers and Rectifiers surges 20%, hits new high on fund raising plans

In past two trading days, the stock the electrical equipment company has zoomed 27 per cent. A combined around 2.7 million equity shares changed hands on the NSE and BSE till 09:19 AM today. READ

9:49 AM

Shemaroo slumps 5% amid tax fraud allegations

Three officials of of the company--CEO Hiran Gada, joint managing director Atul Maru and chief financial officer Amit Haria--were arrested on Thursday by the Central Goods and Services Tax (CGST) department for fraudulently claiming Input Tax Credit (ITC) of Rs 70.25 crore.

They were later released on bail. The CGST and Central Excise Department had carried out search operation at the premises of the company on September 05, 2023. The company is contesting allegations in accordance with the due process of law.

9:45 AM

Landmark Cars jumps 5% on adding M&M dealership

The company has signed a Letter of Intent with Mahindra and Mahindra for opening a dealership in Howrah, West Bengal. This business will include sales and after-sales of Mahindra’s Personal, Pickup and Supro range of vehicles in the areas of Howrah, Hooghly, Kolkata, North 24 Parganas and South 24 Parganas.

9:42 AM

Tejas Networks zooms 5% on receiving Rs 750 crore from TCS for RAN equipment

The company has received the mobilization advance of Rs 750 crore from Tata Consultancy Services, towards the supply of Radio Access Network equipment for BSNL’s Pan-India 4G/5G network.