US Fed decision powers 540-pt rally in Sensex; broader indices jump over 2%

Stock market highlights on March 21: In the broader markets, the rebound was steeper with the BSE MidCap and SmallCap indices closing 2.3 per cent and 2 per cent higher, respectively

2:34 PM

M&M, Adani Total Energies to jointly set up EV charging infra across India

Mahindra & Mahindra on Thursday said it has tied up with a unit of Adani Total Gas to establish electric vehicle charging infrastructure across the country. The auto major and Adani Total Energies E-Mobility Ltd (ATEL) have inked a memorandum of understanding (MoU) in this regard. READ MORE

 

2:20 PM

Japan's exports rise nearly 8% in Feb on shipments of cars, machinery

The report showed the trade deficit sank by more than half on-year to 379 billion yen ($2.5 billion), marking the second straight month of a deficit. READ MORE

2:01 PM

Jupiter Wagons rises 4% day after announcing Bonatrans India buyout

Jupiter Wagons rallied 4.4 per cent to hit a high of Rs 348.35 in intra-day deals on the BSE after the company announced acqusition of Bonatrans India for Rs 271 crore.
 

At 01:05 pm, the stock was trading 2.8 per cent higher at Rs 343 on volumes of around 87,000 shares on the BSE. Meanwhile, the S&P BSE Sensex was up 0.7 per cent at 72,638. Read

1:44 PM

Rico Auto hits record high on heavy volumes; stock rallies 61% in a month

Shares of Rico Auto Industries hit a record high of Rs 150.40 rallying 11 per cent on the BSE in Thursday’s intra-day trade on the back of heavy volumes. The stock surpassed its previous high of Rs 146.15 touched on March 11, 2024. In the past one month, the market price of Rico Auto has zoomed 61 per cent, as compared to 0.24 per cent decline in the S&P BSE Sensex. Read

1:31 PM

Hindalco, JSW, Tata Steel: Tech charts hint at mixed outlook for metal stks

Shares of metal companies have been in limelight this week amid hopes of stronger growth prospects. Following reports of muted steel production in China in the last two months, analysts expect demand for Indian steel to pick-up in the overseas market. Read

1:15 PM

Reddit to make stock market debut today, prices IPO at $34/ share

Reddit and its eclectic bazaar of online communities is ready to plumb high-stakes territory the stock market.
 

The company said on Wednesday that it had priced its IPO at $34 a share. Shares will begin trading today on the New York Stock Exchange under the ticker symbol RDDT in a market debut likely to spur a flurry of commentary on Reddit's own platform, as well as competing social media outlets. Read

1:07 PM

SME IPO: Naman In-Store trims issue size; commands strong GMP of over 50%

Grey market premium

The stock is seeing strong demand in the unlisted or the grey market. As of today, the shares were commanding a premium of 56 per cent against the upper price band of Rs 89, signalling at a potential listing at Rs 139 apiece, as per investorgain.com. READ MORE

12:56 PM

Shares of NTPC surge nearly 4% on NCD issue worth Rs 1500 cr

The debentures are proposed to be listed on BSE. “Debenture Trust Deed will be duly executed as per the requirements of and within the period of time prescribed under the Companies Act and rules specified therein. These debentures are being issued under the recommendation of board resolution dated 24.06.2023 and subsequent approval obtained through shareholders’ resolution dated 30.08.2023,” the company’s filing said. READ MORE

12:46 PM

eMudhra hits fresh high; zooms 60% in 2 months on healthy outlook

The management, while announcing Q3FY24 results on February 5, said the company saw significant growth in international markets aided by wins across geographies with increased demand for cybersecurity solutions. It saw increased traction for the company’s solutions in North American markets both for cyber security and paperless office segments. READ MORE

12:36 PM

Gifting Infosys shares: Tax implications for Narayana Murthy and his grandson

The tax exemption applies at the time of receiving the gift. However, any income or gains generated from the gifted asset are subject to taxation in the hands of the recipient, the grandson in this case. This includes dividends paid by Infosys on the gifted shares or any future sale proceeds if the grandson decides to sell them. READ MORE

12:26 PM

ALERT :: Blue Dart launches Unified Shipping API Software Platform

>> This platform is tailored specifically to empower Micro, Small, and Medium Enterprises {MSMEs) as well as Large Enterprises across India

>> Blue Dart will integrate the cutting-edge software platform offered by eShipz.com into its existing logistics infrastructure. This integration will provide access to advanced dispatch tools, ensuring seamless connectivity with sales platforms, marketplaces, order management systems, warehouse management systems, and enterprise resource planning systems of shippers

12:16 PM

Investors richer by Rs 6 trn: Factors behind rally, market outlook & more

The S&P BSE Sensex jumped 781 points intraday to hit a high of 72,882 level, while the Nifty50 reclaimed the 22,000-mark to hit a high of 22,080 level during the day. It notched an intraday rally of 241 points. READ MORE

12:06 PM

Market Check :: Benchmarks off highs as Infy, Maruti weigh; Sensex holds 480-pt gain

11:56 AM

Sector Watch :: Insurance stocks in focus

According to reports: 

>> IRDAI has relaxed propsoed higher surrender value norms

>> Surrender value will be proportional to policy years

>> Board approves Bima Sugam policy

Stock reaction:

• SBI Life: up 0.8% (off highs)
• HDFC Life: up 1%
• ICICI Lombard: up 0.6% (off highs)
• ICICI Prudential Life: up 3.25%

11:45 AM

PSU Banks soar: PNB, Indian Bank, Central Bank, PSB, BOI zoom up to 4%

The Nifty PSU Bank index rose sharply at 2.66 per cent against 1.01 per cent rise in the Nifty50 benchmark index. A total of 1,86,178 shares worth 12.61 crores changed hands on Thursday's intraday trade. READ MORE