Sensex drops 523 pts, Nifty tests 21,600 ahead of Jan CPI data; PSBs sink

Stock market highlights on February 12, 2024: The broader markets suffered deeper losses with the BSE MidCap index falling 2.6 per cent and the BSE SmallCap 3.16 per cent

1:49 PM

Q3 result :: Bharat Forge reports PAT of Rs 380 crore vs Rs 290 crore YoY

>> Ebitda at Rs 663 crore vs Rs 535 crore YoY

>> Margin at 29.30% vs 27.41% YoY

1:37 PM

SpiceJet drops 5% after report says airline mulls laying off 1.4K employees

Meanwhile, the fall also comes ahead of the Delhi High Court-set deadline where the airline was ordered to pay $4 million to its engine lessors Team France 01 SA and Sunbird France 02 SAS by February 15. The airline had sought more time for payment and said they could pay $1 million upfront. SpiceJet is supposed to pay close to $11 million to the lessors. READ MORE

1:23 PM

Liquid funds are back in favour in 2024: Should you invest?

Liquid Funds, as the name suggests, invest predominantly in highly liquid money market instruments and debt securities of very short tenure and hence provide high liquidity. They invest in very short-term instruments such as Treasury Bills (T-bills), Commercial Paper (CP), Certificates Of Deposit (CD) and Collateralized Lending & Borrowing Obligations (CBLO) that have residual maturities of up to 91 days to generate optimal returns while maintaining safety and high liquidity. Redemption requests in these Liquid funds are processed within one working (T+1) day. READ MORE

1:11 PM

Q3 result :: Cera Sanitaryware PAT falls to Rs 51 cr vs Rs 56.4 cr YoY

>> Ebitda at Rs 61,4 cr vs Rs 75 cr YoY

>> Ebitda margin at 14% vs 16.4% YoY

12:59 PM

Vedanta's demerger process to be completed in next 9-12 months: Official

In an interview to PTI, John Slaven, CEO of aluminium business of Vedanta, said, "We are working very actively in securing the successful demerger of the aluminium business." The process for the demerger is currently underway and is subject to a number of approvals from various authorities, he added. READ MORE

12:51 PM

Share price of this hospital company has zoomed over 100% in 5 months

The stock is trading higher for a third straight day, surging 17 per cent during the period, after the company delivered a strong quarterly performance in the October-December quarter (Q3FY24) primarily driven by growth in patient volumes. The company is one of the largest private multi-specialty tertiary care providers operating in the North and East regions of India. READ MORE

12:39 PM

Paytm confirms resignation of Payments Bank director Manju Agarwal

The payments firm on Friday said it would form an advisory committee on compliance and regulatory matters, a week after India's central bank ordered Paytm Payments Bank to wind down most of its operations. READ MORE

12:27 PM

Market Check :: Media, Realty, PSB indices decline 2.5-3%

12:17 PM

The next few months are likely to see increased volatility: Shiv Sehgal

The outlook for the bond market is a lot more upbeat given the low supply of bonds from both government as well as large corporates, easing core inflation and potentially headline inflation and the beginning of the rate cut cycle. Also, if growth slackens then there is likely to be a natural flight to bonds. The stability in bond markets will certainly act as a downside support for equities as well. READ MORE

12:02 PM

Index Watch :: NSE SmallCap100 sinks 2.6%

11:51 AM

Cash-strapped SpiceJet to lay off 1,400 employees as cost-cutting measure

The airline currently employs 9,000 personnel and operates approximately 30 aircraft, including eight wet-leased from foreign carriers. The carrier's salary bill reportedly amounts to Rs 60 crore, precipitating the need for workforce downsizing. Reports indicate that salary payments have been overdue for several months, leaving many employees awaiting their January remuneration. READ MORE

11:40 AM

Tata Power dips 6% on profit booking post Q3 results

The consolidated revenue for the company in the period under study also registered a modest growth of 3 per cent to Rs 14,841 crore, as against Rs 14,439 crore in the year-ago period. Earnings before interest, tax, depreciation, and amortisation (ebitda) for the quarter grew by 15 per cent year-on-year to Rs 3,250 crore. READ MORE

11:30 AM

ALERT :: Suratwwala Biz Group receives environmental clearance for built area of 90,502 sq. mtr

>> The company is in receipt of Environmental Clearance certificate towards the Building of structures under commercial Development from office of State Environment Impact Assessment Authority (SEIAA), Maharashtra,  of project name “Suratwala Mark Plazzo” situated at Hinjewadi, Taluka Mulshi District Pune having land admeasuring approximately 14,325 sq.mtrs. 

>> With this approval, the company has got the environmental clearance of total built area of 90502 sq. mtrs (974160 sq. ft.) for this project at Hinjewadi location. 

 

11:16 AM

In an election year, markets typically flourish, says Arbind Maheswari

The market setup has never looked better, given a combination of stable policy, strong growth, and steady inflows from both domestic and foreign investors. The starting valuations are higher vis-à-vis historical levels, which should translate into lower return expectations. READ MORE

11:06 AM

Apeejay Surrendra Park Hotels lists at 21% premium over its issue price

"The company benefits from decades of experience in the hospitality industry, reflected in high occupancy rates and a proven track record of service excellence. Its expansion plans indicate exciting possibilities for future revenue growth. This listing paints a hopeful picture for ASPHL, but a cautious approach is still advised. Thus, those who want to book profit may exit their holdings, and those who want to hold for the long term may keep a stop loss at Rs 168," said Shivani Nyati, Head of Wealth, Swastika Investmart Ltd. READ MORE