Sensex sinks 256 pts, Nifty ends below 19,300; SmallCap index holds fort

Closing Bell on August 31, 2023: Bajaj Finance, IndusInd Bank, Axis Bank, HUL, SBI, Power Grid, Nestle India, TCS, Tata Motors, JSW Steel, Bajaj Finance, ITC, and RIL slipped up to 1.2 per cent

3:28 PM

India's crude oil imports from Russia down 24% MoM, lowest in 7 months

The world’s third largest oil consumer reduced imports from Moscow for the third consecutive month in August to 1.57 million barrels a day, down 24% on the month and bringing them to their lowest since January, according to data intelligence firm Kpler.  READ MORE

3:17 PM

Fitch affirms SBI's long term rating at 'BBB' on asset quality, loans

The gross non-performing assets (NPA) of SBI, the country’s largest lender, declined to 2.8 per cent in Financial Year 2022-23 (FY23) compared to 4 per cent in FY22 and as recoveries and write-offs offset new bad loans. Fitch revised the outlook for SBI's asset quality score from “stable” to “positive” as the four-year average impaired loans ratio is expected to improve further in the near term. READ MORE

3:02 PM

Sector check :: Auto, IT sector shine on a dull day

2:55 PM

ALERT :: Sensex at day's low

2:44 PM

Maurti Suzuki gains 3% to hit fresh lifetime high in a weak market

MSIL on Tuesday, August 29, announced that it has appointed Arnab Roy as the new Chief Financial Officer (CFO). Arnab will assume responsibilities starting as the CFO – Designate w.e.f. October 16, 2023 and full-time CFO of the company with effect from January 1, 2024. READ MORE

2:36 PM

ALERT :: ONGC, Gail in focus

2:20 PM

ALERT :: Greaves' AutoEVMart partners with Enigma Automobiles

>> Enigma Automobiles Private Limited has announced its strategic partnership with AutoEVmart, a multi-brand EV retail store by Greaves Retail

>> The partnership aims to accelerate the sales and distribution of Enigma's electric two-wheeler range nationwide through AutoEVmart's retail network

Check details here

2:07 PM

ALERT :: Nifty Realty index gains 0.2%

1:57 PM

ALERT :: Gensol Engg Baord to issue bonus shares on Sept 5

1:47 PM

Westlife Foodworld hits new high; stock up 10% in 2 days on healthy outlook

In the past two days, the stock of this restaurant company has rallied 10 per cent on healthy business outlook. It has surpassed its previous high of Rs 967.95 apiece, touched on July 31, 2023. READ MORE

1:38 PM

ALERT :: Zydus Life receives final approval from USFDA for Isotretinoin Capsules

>> Zydus Lifesciences Limited has received final approval from the United States Food and Drug Administration (USFDA) for Isotretinoin Capsules USP, 10 mg, 20 mg 30 mg and 40 mg

>> Isotretinoin Capsules is used to treat severe cystic acne (also known as nodular acne) that has not responded to other treatment 

>> Isotretinoin Capsules had annual sales of $165 mn in the United States (IQVIA MAT July 2023)
 

1:27 PM

ALERT :: Nifty Bank slips below 44,000

1:17 PM

Adani Group, Hindenburg, Supreme Court and OCCRP: All you need to know

The report came as the Supreme Court is hearing the case concerning the allegations. The Securities and Exchange Board of India (Sebi) has already submitted a report to the court based on its investigation into the charges by Hindenburg. READ MORE

1:03 PM

MSCI rejig today :: These stocks will see maximum inflows

>> Index aggregator MSCI's changes to MSCI Global Standard Index will take place at the end of the business hours today

>> As per estimates by Nuvama, eight Indian stocks including IDFC First Bank, REC, Power Finance Corporation (PFC), Ashok Leyland and HDFC AMC are likely to see $152-214 million inflows

>> IDFC First Bank could see $214 million inflows, REC to see $207 million inflows, PFC ($206 million), Supreme Industries ($200 million), Ashok Leyland ($197 million), and Cummins India ($171 million)

 

>> Astral ($170 million) and HDFC AMC ($152 million) ae also expected to see inflows while ACC, the only MSCI exclusion could see $96 million in outflows, Nuvama estimated.

12:48 PM

Tata Power arm in deal with steel maker Sanyo to set up captive solar plant

Tata Power Renewable Energy Ltd (TPREL) on Thursday said that it has signed a power delivery agreement with Sanyo Special Steel Manufacturing India Pvt Ltd (SSMI) to set up a captive solar plant in Maharashtra's Aachegaon. READ