Benchmarks end flat, MidCap index rises 1.5%; PSB, realty stocks in demand

Stock market highlights on February 7, 2024: In the broader markets, the BSE MidCap index gained over 1.48 per cent, while the BSE SmallCap index advanced 0.35 per cent

9:22 AM

Broader markets rise in tandem with benchmarks; SmallCaps shine

9:21 AM

Sectoral trends :: Markets hold gains amid broad rally; IT slips mildly on profit booking

9:19 AM

Sensex Heatmap :: 27 gainers on index vs 3 lsoers; SBI, Axis Bk front runners

9:18 AM

Opening Bell :: Nifty starts above 22,000

9:17 AM

Opening Bell :: Sensex gains 300 pts

9:10 AM

Pre-Open Session :: Nifty tests 22,050

9:08 AM

Pre-Open Session :: Sensex rises over 350 pts

9:03 AM

Currency Alert: Rupee strengthens 3 paise to open at 83.03/$

8:59 AM

HDFC Bank accepts bids worth $750 mn for dollar bond issuances: Bankers

HDFC Bank has accepted bids worth $750 million for two dollar bond issuances - one maturing in three years and the other in five years, two bankers said on Wednesday.
 

The private sector lender has priced its three-year sustainability bond at a yield of 5.196% and accepted bids worth $300 million. It priced the five-year conventional notes at 5.180% and accepted bids worth $450 million. Read

8:55 AM

RBI mulls revoking Paytm Payments Bank licence or superseding board

After issuing directions under Section 35A of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) is considering either cancelling the licence of Paytm Payments Bank (Paytm PB) or superseding its board after the settlement of all pipeline transactions and nodal accounts are completed by March 15, sources said. Read

8:50 AM

Moody's downgrades agri solutions provider UPL, maintains negative outlook

Credit rating agency Moody's Investors Service on Tuesday downgraded agriculture solutions provider UPL to Ba1 and maintained the negative outlook on deterioration in the agrochemical industry.
 

Moody's has downgraded the senior unsecured rating for UPL Corporation (UPL Corp) to Ba1 from Baa3 and has also downgraded the rating on the long-term junior subordinated rating on UPL Corp's USD 400 million undated perpetual Eurobonds to Ba3 from Ba2, the credit rating agency said in a statement. Read

8:46 AM

Q3 results: Decline in volume, revenue growth drags FMCG companies

The slowdown in private consumption in the economy is taking a toll on the growth of fast-moving consumer goods (FMCG). The net sales growth of listed FMCG companies hit a 14-quarter low of 2.5 per cent in October-December 2023 (Q3FY24). Read

8:41 AM

Tata Group becomes first Indian conglomerate to cross Rs 30 trn mcap

Tata Group on Tuesday became India’s first business conglomerate to cross Rs 30 trillion in market capitalisation (mcap). The shares of Tata Consultancy Services (TCS) jumped 4 per cent, taking its market valuation above the Rs 15 trillion mark for the first time. Read

8:36 AM

Stocks to Watch today, Feb 7: Nykaa, ONGC, UPL, Britannia, Biocon, Paytm

Paytm: Paytm founder, Vijay Shekhar Sharma, met with Union Finance Minister Nirmala Sitharaman on Tuesday and discussed the ongoing issue of the company, ANI reported.
 

He also held talks with the Reserve Bank of India (RBI) to discuss regulatory concerns and know if the company can transfer its wallet business and electronic toll collection system FASTag, Business Standard reported.
 

Kotak Mahindra Bank: The Competition Commission of India (CCI) has approved Zurich Insurance Company's proposed 70 per cent stake purchase in Kotak Mahindra General Insurance Company. ZIC will acquire a majority stake in the Kotak Mahindra General Insurance Company from Kotak Mahindra Bank. READ

8:30 AM

Nifty likely to face resistance in 21,970-22,125 band: HDFC Securities

The Nifty rose on Feb 06, almost negating the bearish pattern of the last two days. It however needs to close above 21,970 to remove any bearish expectations for the near term.

 

The Nifty could now face resistance in the 21,970-22,125 band while 21,727 could offer support on downfalls. Read