Market bounces back: Sensex gains 335 pts; Adani Group, rail shares shine

Market wrap on March 14, 2024: Beaten down BSE PSU and CPSE indices surged up to 3 per cent led by gains in rail stocks; Adani Group shares surged up to 11%

10:42 AM

Gopal Snacks makes disappointing debut; lists 13% below its issue price

Post listing, the stock hit a high of Rs 378 and a low of Rs 342 on the BSE. At 10:01 am; the stock was trading at Rs 375.50, up 7 per cent as against the stock's opening price, but down 6 per cent from its issue price. A combined 1.5 million equity shares had changed hands. so far, on the NSE and BSE. READ MORE

10:30 AM

ALERT :: L&T wins order from a client in the Middle East

>> The Hydrocarbon vertical has recently secured a major onshore gas pipeline project from a prestigious client in the Middle East. 

>> The order falls under 'major' category, implying value between Rs 5,000 and 10,000 crore
 

10:17 AM

Market Check :: Top gainers on the BSE at this hour

10:03 AM

New Listing :: Gopal Snacks lists at discount against issue price

>> The company's shares had an issue price of Rs 401 apiece.

>> Shares listed at Rs 350 per share

9:51 AM

Comment :: What should be you strategy in this turbulent market?

Investors should appreciate the following facts.

>>The Nifty Smallcap index is down 13.5% and the midcap index is down 6.8% from their respective peaks. But Nifty is stable with a minor cut of only 2.1%.

>> There is room for the broader market to correct more since the valuations continue to be elevated.

 

>> From now on, irrational exuberance will take a back seat and rational valuations and quality  will be the driving force.

Startegy
 High quality private sector banks and the leading names in capital goods, telecom and autos can be accumulated in a calibrated manner.

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

9:40 AM

Index check :: SmallCap index rebounds, gains 1%

9:37 AM

Sector check :: Auto index turns positive; Govt approves Rs 500-cr scheme for EV promotion

>> The central government has announced a new scheme, with a total outlay of Rs 500 crore, to promote the adoption of electric mobility in India.

9:36 AM

PC Jeweller hits 5% upper circuit as SBI okays one-time settlement

>> The State Bank of India has accepted the company's proposal for one time settlement of outstanding dues.

9:33 AM

Federal bank sinks 3% as RBI restricts issuance of co-branded credit cards

>> The Reserve Bank of India has asked Federal Bank, and South Indian Bank to stop issuing new co-branded credit cards.

>> South Indian Bank shares are off lows, still down over 1%

9:31 AM

Som Distilleries rallies over 7% on stock split decision

>> The company's Board of Directors will meet on April 2, 2024, to consider stock split/sub-division of shares. 

9:30 AM

KEC International wins orders across various biz; stock up 1%

>>  The company has received orders worth Rs 2,257 crore across its various businesses.

9:28 AM

HAL advances 2% on order win worth Rs 8,073 crore

>> The Ministry of Defence (MoD) has signed two contracts worth Rs 8,073 crore with the Hindustan Aeronautics for acquisition of 34 advanced light helicopters and associated equipment for the Indian Army and the Coast Guard.

9:26 AM

RIL holds gains in weak market; Cot o buy Paramount Global's stake in Viacom18

>> RIL, on Thursday, signed a binding agreement with two subsidiaries of Paramount Global to acquire the latter's stake in Viacom18 Media Pvt. Ltd. for an aggregate consideration of Rs 4,286 crore.

9:24 AM

Broader markets :: Indices rebound after Wednesday's slump

9:23 AM

Sectoral trends :: All but Pharma indices swim in red; Realty down 2%