Sensex sinks 800pts on global worries; Bharti Hexacom up 43% on debut; Maruti, Sun Pharma crack 3%

Market wrap on April 12, 2024: The NSE Nifty50 tumbled over 200 points to end near 22,500 levels. The broader indices - BSE MidCap and SmallCap indices declined around 0.5 per cent each.

2:14 PM

TCS trades flat ahead of March 2024 quarter results today

Shares of Tata Consultancy Services (TCS) were trading flat ahead of the March 2024 quarter results (Q4-FY24) scheduled to be announced later in the day today.  READ MORE

 

2:02 PM

5 reasons why Goldman Sachs is bullish on CreditAccess Grameen

Goldman Sach has initiated a ‘Buy,’ with a target price of Rs 1,788 per share. The research and broking firm has valued CreditAccess Grameen at 15x FY25E earnings per share (EPS), implying an upside potential of 25 per cent. READ MORE

1:49 PM

Indian real estate to be worth $1.5 trn by 2034 as demand soars: Report

India's real estate sector will be worth $1.5 trillion by 2034 as it grows three-fold from $482 billion now as residential and commercial demand grows, said a report on Friday. READ MORE

1:32 PM

Adani Group seeks $750 mn from banks to pay for conversion of warrants

As of March, Adani family had reportedly made an initial payment of Rs 6,661 crore for the conversion of warrants allocated by Ambuja Cements. READ MORE

1:18 PM

Stock of this real estate company zoomed 75% in 15 days; hits 16-yr high

Shares of Puravankara are trading at its highest level since April 2008. It had hit a record high of Rs 535 on December 13, 2007, data shows. READ MORE

1:05 PM

High anticipation of capital market reforms in the full budget: Mahavir Lunavat of Pantomath

Some new-age technology companies might be in trouble as the PE tap has dried up. However, one cannot generalise the same for the entire sector, Lunavat said in this interview. READ MORE

12:50 PM

Moody's Analytics forecasts India's economy to grow by 6.1% in 2024

Moody's Analytics reported that India's output is currently 4% below what it would have been without the impact of the Covid-19 pandemic. READ MORE

12:28 PM

Bharti Hexacom zooms 10% over listing price

12:13 PM

India reviews Asean trade pact to address domestic manufacturing anomalies

India has started a comprehensive review of its trade agreement with the 10-member Association of Southeast Asian Nations (Asean), focusing on various products where taxes on input items exceed those on finished goods. Read more

11:54 AM

LKP Securities initiates coverage with buy on Sansera Engg, stock jumps 4%

Brokerage firm LKP Securities on Friday initiated coverage on automotive component manufacturers Sansera Engineering, with a 'buy' rating, with a target price of Rs 1,235, translating into an upside potential of 21 per cent.

That said, Sansera Engineering’s shares have shown a robust performance, climbing 10.63 per cent in the past month, outpacing the S&P BSE SmallCap index by 2.81 per cent. Read more
 

11:46 AM

Vodafone Idea slides 5% after fixing price of FPO at Rs 18,000 crore

Shares of Vodafone Idea slipped 5 per cent to Rs 12.23 on the BSE in Friday’s intra-day trade amid heavy volumes. This came the company fixed the floor price at Rs 10 per share for its proposed follow on offer (FPO). The cap price of the offer is fixed at Rs 11 per share.

The company’s Rs 18,000 crore FPO is set to open for subscription on April 18 and will close on April 22. The company has set a minimum bid lot of 1,298 equity shares and in the multiples of 1,298 equity shares thereafter, the company said in exchange filing. Read more

 

11:29 AM

Moody's maintains stable outlook for India, cautions on political tensions

Global rating agency Moody's has affirmed India's outlook at Baa3 and P-3, signaling stability. However, it has issued a warning that escalating political tensions or further weakening of checks and balances could harm the country's long-term growth trajectory, according to a report by The Economic Times (ET).

Moody's highlighted India's vulnerability to event-driven risks due to mounting political and sectarian tensions alongside growing domestic political polarisation. Read more

11:14 AM

Bharat Electronics hits new high on strong outlook; zooms 27% in 15 days

Shares of Bharat Electronics (BEL) hit a new high of Rs 235.20, gaining 3 per cent on the BSE in Friday's intra-day trade amid heavy volumes in an otherwise weak market on strong business outlook. Analysts expect BEL's revenue may rise 30 per cent year-on-year on execution of a robust orderbook in the March quarter.

In past 15 trading days, the stock of state-owned defence company has surged 27 per cent. In past six months, it zoomed nearly 70 per cent, as compared to a 12 per cent rise in the S&P BSE Sensex. Read more

 

10:59 AM

BSE Midcap hits record high

10:46 AM

Broader markets trade higher in a weak market