Stock Market Highlights, Aug 14: Benchmarks end up; IT shines, Metals slip

Stock market highlights on Wednesday, August 14: 26 out of 50 constituents of the Nifty50 index ended lower, dragged down by Divi's Labs, Hero MotoCorp, and Coal India

SI Reporter New Delhi

BSE, NSE, Indian share market, Stock market

(Photo: Bloomberg)

10:32 AM

Hindustan Zinc dips 4% as Vedanta board okays 2.6% stake sale via OFS

Share of Hindustan Zinc (HZL) dipped 4 per cent to Rs 556.35 on the BSE in Wednesday's intra-day trade after the parent firm Vedanta informed exchanges that its board approved the sale of up to 110 million shares or 2.6 per cent equity in the zinc maker via an offer for sale (OFS).

In an exchange filing, Vedanta said the duly authorized committee of directors of Vedanta at its meeting held Tuesday on August 13, 2024, has approved the sale of upto 110 million equity shares of HZL, representing 2.60 per cent of the issued and paid-up equity share capital of HZL, by way of an offer for sale through the stock exchange mechanism. Read more

10:17 AM

SpiceJet Promoter Ajay Singh to dilute over 10% stake to raise Rs 3,000 cr

According to reports, Ajay Singh, the promoter of SpiceJet, is planning to dilute more than 10 per cent of his stake in the cash-strapped airline to raise approximately Rs 3,000 crore. Singh currently holds a 47.8 per cent stake in the airline along with his family. Singh’s shareholding may drop to 30-35 per cent after the fundraising, though he will remain the largest shareholder. Read more

10:07 AM

Nykaa shares jump 6% after strong Q1 show; net profits grow 152% YoY

Shares of FSN E-Commerce Ventures soared as much as 5.76 per cent at Rs 197.35 per share on the BSE in Wednesday’s intraday trade. The stock price jumped after the company on Tuesday reported a strong financial performance in its April-June quarter of financial year 2024-25 (Q1FY25).

FSN E-Commerce Ventures, the operator of beauty and personal care brand Nykaa, reported a net profit of Rs 13.6 crore for the quarter ending June 30, 2024, representing a 152 per cent increase from Rs 5.4 crore in the same period last year. The company's operating revenue for the quarter was Rs 1,746 crore, up 23 per cent from Rs 1,422 crore in the corresponding quarter of the previous year. Read more

9:47 AM

Nifty 50 CEO earnings surge: 1 in 5 now earns over Rs 50 crore: Report

In the last fiscal year, 22 per cent of CEOs and MDs earned more than Rs 50 crore, compared to 10 per cent five years ago, the business-daily noted, citing a Deloitte report.

Among the 10 promoter-incumbents, 30 per cent earned over Rs 50 crore in FY24, up from 27 per cent in FY19. For the 31 non-promoter incumbents, 20 per cent received more than Rs 50 crore, a significant increase from just 4 per cent in FY19, the report noted.

This analysis, which covered 41 Nifty 50 companies, excluded public sector undertakings and three others where there was no active incumbent – the MD had voluntarily relinquished compensation or was on deputation from the holding company. Read more

9:35 AM

Alert:: NSE increases ceiling amount of Investor Protection Fund Trust to Rs 3.5 mn

According to its latest statement, National Stock Exchange (NSE) has increase in ceiling amount payable out of Investor Protection Fund Trust.

"As per Chapter XIII of the Exchange Byelaws, Clause 15, the Investor Protection Fund Trust (IPF) has increased the maximum permissible limit against a single claim from the current amount of Rs. 2.5 million to Rs. 3.5 million per investor per claim," NSE said.

This limit shall be applicable for claims received against the trading members who have been declared defaulter or have been expelled from the date of this press release, NSE further added.

9:32 AM