Sensex drops 354 pts in fag-end, Nifty below 21,800; RIL, Airtel weigh

Stock market highlights on February 5: Among sectors, the Nifty Pharma, and Auto indices rallied over 1 per cent each

1:09 PM

IOC, BPCL, HPCL: OMCs shares on fire post Interim Budget; check key levels

Indian Oil (IOC)

Resistance: Rs 180

Support: Rs 165; Rs 150
 

IOC is seen trading above its higher-end of the Bollinger Bands on multiple time-frames and also firmly above the key moving averages. Even as key momentum oscillators, namely RSI (Relative Strength Index) is in overbought zone, the stock is likely to trade with a bullish bias as long as it holds above Rs 165. READ MORE

12:52 PM

Hyundai Motor India may launch India's largest IPO ever this Diwali

HMIL was launched in India in 1996. Last year, it was the second-largest passenger vehicle seller here after Maruti Suzuki. Currently, Maruti Suzuki has a valuation of Rs 33.4 trillion. Another Indian giant, Tata Motors, is valued at Rs 29.3 trillion. READ MORE

12:39 PM

HDFC Bank appoints BoA, Barclays for likely dollar bond issue, say bankers

HDFC Bank last tapped the dollar bond market in February 2023 when it had raised $750 million via three-year dollar-denominated bonds at a coupon of 5.686%. READ MORE

12:22 PM

LIC soars 9%, crosses the Rs 1,000-mark for the first time ever

Currently, the stock is trading 14 per cent higher against its issue price of Rs 904 per share allotted to retail investors and employees. The government had issued shares at Rs 949 apiece to qualified institutional buyers (QIBs) and high networth individuals (HNI). The issue price was Rs 889 for policyholders. READ MORE

12:05 PM

Q3 result :: VBL posts net profit of RFs 143 cr vs Rs 74.7 crore YoY

>> Ebitda at Rs 420 crore

>> Margin at 15.32%

11:50 AM

Can go to NCLT to enforce Sony merger deal after SIAC rejects petition: Zee

The Singapore International Arbitration Centre (SIAC) said it had no jurisdiction or authority to block Zee from approaching the Indian tribunal, adding the merger fell within the purview of the National Company Law Tribunal of India, Zee said in filings to Indian stock exchanges. READ MORE

11:34 AM

Market Check :: Indices trade in thin range

11:22 AM

India's services PMI jumps to highest in six months at 61.8 in January

"India's services PMI rose to a six-month high in January. New business expanded at a faster pace and managers' expectation for future activity was strong," said Ines Lam, economist at HSBC. READ MORE

11:05 AM

UPL slips 7%, hits 3-year low on Q3 loss; cautions on weaker Q4FY24

t 10:10 am; UPL was quoting 6 per cent lower, as compared to 0.3 per cent rise in the S&P BSE Sensex. The averge trading volumes at the counter nearly doubled with a combined nearly 7.1 million shares changing hands on the NSE and BSE. READ MORE

10:50 AM

ALERT :: VA Tech Wabag secures order worth $33.5 million

>> VA Tech wabag has secured an order worth $33.5 million from SEPCO III Electric Power Construction Corporation (‘SEPCO III’) towards Engineering and Procurement of a 20 MLD Industrial Wastewater Treatment Plant (IWWTP) at Ras Tanura Refinery Complex, Kingdom of Saudi Arabia.

10:36 AM

ALERT :: Som Distilleries reports 51% YTD volume growth in Karnataka for FY24

>> The impressive surge in volume reflects our steadfast dedication to innovation, customer satisfaction, and operational excellence. Through strategic initiatives, robust partnerships, and a customer-centric approach, we have successfully expanded our market presence and strengthened our position as a key player in Karnataka

10:20 AM

Tata Motors hits new high, surges 7% on robust December quarter results

As for the Jaguar Land Rover (JLR) business, it posted a record third-quarter revenue of 7.4 billion pounds with its highest quarterly profit before tax since Q4FY17 of 627 million pounds during the quarter. JLR's free cash flow was 626 million pounds in Q3FY24 and 1.4 billion pounds for the year to date YTDFY24. Net debt reduced to 1.6 billion pounds. READ MORE

10:05 AM

Comment :: 'US economy unlikely to tip into mild recession any time soon'

The global construct for equity markets continues to be good with the mother market US doing well aided by a surprisingly strong economy.

The latest data on job creation in January has again surprised with the addition of 3,53,000 jobs. There are no signs of the US economy tipping into a mild recession any time soon.

This means that the Fed rate cuts expected this year are likely to be back-loaded. This has pushed up the 10-year bond yield again above 4% and the dollar index to 104.

This might prompt some selling by FIIs. But the market momentum is good supported by strong DII and retail buying.

Views by: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

9:48 AM

GHCL sinks 4% as profit dives 61% in Q3

>> GHCL Ltdreported a 60.7% YoY decline in net profit at Rs 99.9 crore for Q3FY24

>> The company's revenue from operations fell 27.6% YoY to Rs 797.3 crore

>> Ebitda tanked 59.3% on year to Rs 149.5 crore

9:45 AM

Mirza International slides 3% post Q3

>> Net profit of Mirza International rose 14.88% YoY to Rs 4.40 crore

>> Sales rose 9.09% to Rs 141.67 crore