Nifty hits fresh high, Sensex ends 282 pts higher; consumer durables rally

Stock market highlights on February 19, 2024: Nifty index leaps to a new lifetime high of 22,187 after crossing previous high of February 2, 2024

2:12 PM

India emerges as global leader in the number of IPOs year-to-date in 2023

Indian stock exchanges, including the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), have emerged as global leaders  in terms of the number of IPOs, with no cross-border deals reported, revealed a report by EY India, a leading global professional services organization. READ MORE

2:00 PM

ALERT:: Crisil upgrades credit rating of PVR Inox; stock up 1%

PVR Inox in an exchange filing today said, credit rating agency CRISIL has upgraded the rating of the long-term bank facilities & long-term debt instruments to CRISIL AA/CRISIL PPMLD AA/Stable (upgraded from CRISIL AA-/Positive) and reaffirmed credit rating of the short-term bank facilities & short-term debt instruments to CRIRIL A1+ (A one Plus).

1:48 PM

Novartis soars 11%; board to support parent firm explore strategic options

After some deliberations, the Novartis India board agreed to support Novartis AG, as may be required, in evaluating their strategic options, the company said. READ MORE

1:36 PM

JSW Steel in talks to buy Australian coal mine for up to $1 bn valuation

JSW Steel is in talks to buy a 20 per cent stake in a coal mine owned by Australian company Whitehaven Coal at a valuation of up to $1 billion. The transaction would close as early as March if talks are successful, said a source close to the development. READ MORE

1:25 PM

Zomato plans D2C expansion of Blinkit to compete with ecommerce giants

Zomato, known primarily for its food delivery services, is gearing up for a significant expansion into the fast-growing direct-to-consumer (D2C) space through its 10-minute delivery platform, Blinkit, according to a report by the Economic Times (ET). This move places Zomato in direct competition with established e-commerce giants like Amazon and Flipkart, signalling a strategic shift in the company's business model. READ MORE

1:12 PM

Reddit signs content licensing deal with AI company ahead of IPO: Report

Reddit has signed a contract allowing an Artificial Intelligence (AI) company to train its models on the social media platform's content, Bloomberg News reported, citing people familiar with the matter. Reddit, which is eyeing an initial public offering (IPO) launch, has told prospective investors that it signed the deal, worth $60 million on an annualized basis, earlier this year, the report said. READ MORE

 

1:01 PM

ALERT:: IREDA, PNB to co-finance Green Energy Projects; stock up 1%

Indian Renewable Energy Development Agency (IREDA) and Punjab National Bank (PNB) have joined hands through the signing of a Memorandum of Understanding (MoU) aimed at advancing renewable energy initiatives across the nation.

 

As per a release issued by IREDA, this agreement paves the way for joint efforts in co-lending and loan syndication for a diverse spectrum of Renewable Energy projects.

chart

12:48 PM

Cashless claim is top reason for intention to buy health insurance, says study

At least 70% of people buy health insurance not for tax purposes, but for adequate coverage for 'health', revealed a recent study of health insurance trends by ICICI Lombard. ‘Cashless claim' is the top reason to buy health insurance, followed by the protection of savings and managing inflated medical costs. READ MORE

12:36 PM

Shifting paradigms: Retail shuffle meets FPI market drive, shows data

Juxtaposing the change in the shareholding pattern of various stakeholders with stock price movement during a quarter reveals interesting trends. The data shows that retail investors - those holding shares worth less than Rs 2 lakh in a single company - tend to churn their holdings the most, while changes by foreign portfolio investors (FPIs) have the highest impact on stock price performance. READ MORE

12:23 PM

Asian Market Update:: Shanghai, Kospi stand out in mixed trade

Source: Yahoo Finance

12:11 PM

Nvidia market rally: What's behind the US-based company's bull run?

Over the last one year, tech major Nvidia has witnessed a rally in its stock price in the US markets. In the last few weeks, Nvidia, based out of California, surpassed companies like Google, Meta and Amazon in market capitalisation. Currently, it is the third most valued company in the US, only behind Microsoft and Apple. In the world, it is the fourth most valuable company, with Saudi Aramco in the third spot. READ MORE

12:01 PM

Valuations elevated, but earnings growth provides comfort: Anish Tawakley

India is poised to perform well, even in the face of a potential slowdown in the US economy, thanks to robust domestic demand fuelled by construction and homebuilding activities, according to ANISH TAWAKLEY, deputy chief investment officer, equity, ICICI Prudential Mutual Fund. In an email exchange with Abhishek Kumar, Tawakley expresses confidence in domestic cyclicals driving future performance. Read Edited excerpts

 

11:50 AM

Stock of this non-banking finance company has zoomed 105% in 3 months

Shares of Paisalo Digital rallied 15% to hit a record high of Rs 164 in intra-day trade on Monday, thus surging 63% in past one month on promoter buying and strong December quarter (Q3FY24) earnings. READ MORE

11:35 AM

ALERT:: LIC soars 9% intra-day deals; gets tax refund of Rs 21,741 cr

LIC has received a tax refund of Rs 21, 740.77 crore from the Income Tax Department on February 15, 2024. 

11:24 AM

ALERT:: Nifty hits new high, up 100 points