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

12:30 PM

Alok Industries up 13% in muted market as 116 million shares change hands

Shares of Alok Industries soared 12.5 per cent to Rs 20.11 per share in Thursday's intraday, ruling near its 52-week high of Rs 21.7, amid heavy volumes.

 

At 12:05 PM, shares of the textile company was quoting at Rs 19.83 per share, up 11 per cent, as against 0.11 per cent dip in the benchmark S&P BSE Sensex. A combined 116.46 million shares have, thus far, changed hands on the BSE and NSE in multiple block deals. READ

12:16 PM

BHEL stock powers up on improved prospects for growth, new orders

The announcement Bharat Heavy Electricals (BHEL) had bagged a new order worth Rs 4,000 crore led to a spike in the share price to a multi-year high. The order was from Mahan Energen (erstwhile Essar Power MP), a wholly-owned subsidiary of Adani Power, for supplying equipment and supervising the erection and commissioning of a 2x800 MW supercritical thermal project at Bandhaura, Madhya Pradesh. READ

 

12:05 PM

Medplus Health tumbles 8% as 13% equity changes hands via block deals

Shares of Medplus Health Services came under heavy selling pressure on Thursday after nearly 18 million shares changed hands on the counter. At 10:00 AM, the stock was quoting 7 per cent lower at Rs 831, having crashed 8.2 per cent to Rs 819 intraday, as against 0.24 per cent gain in the benchmark S&P BSE Sensex. READ

11:49 AM

Gokaldas Exports crashes 10% as investors book out post 42% rally in 2 days

Shares of Gokaldas Exports spiralled 9.5 per cent lower to Rs 790.5 apiece on the BSE in Thursday's intraday trade, after surging over 40 per cent in two days.

 

At 11:05 AM, the shares were down 8.9 per cent to Rs 795.8 per share as against 0.13 per cent dip in the benchmark S&P BSE Sensex. The shares have rallied 42.4 per cent over the past two days after the company said it has entered into an agreement through its wholly-owned subsidiaries to acquire UAE-based Atraco Group. READ

11:36 AM

Kalyan Jewellers hits record high in subdued market; zooms 134% in 3 months

The management is upbeat about the upcoming new showroom launches and said they are gearing up with fresh collections and campaigns for the upcoming festive and wedding season across the country. READ

11:27 AM

SpiceJet up 23% in 3 months despite analysts' skepticism; should you buy?

Shares of SpiceJet have outperformed the markets over the past three months as investors checked into the counter on the back of fund raise expectations and a solid profit in the April-June quarter (Q1-FY24).

 

While the shares of the low-cost airline have zoomed 22.7 per cent during the period, the benchmark S&P BSE Sensex and peer firm IndiGo are up barely 3.3 per cent each over the last three months. READ

11:13 AM

Adani stocks retreat on OCCRP report; Adani Energy, Adani Power slide 4-5%

The Organised Crime and Corruption Reporting Project (OCCRP) in an article on Thursday, said that millions of dollars were invested in some publicly traded stocks of India's Adani Group via "opaque" Mauritius funds that "obscured" involvement of alleged business partners of the Adani family. READ

11:01 AM

Adani Group rubbishes allegations of 'opaque' funding by family's partners

The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations. READ MORE

10:49 AM

Aeroflex makes stellar debut, lists at 83% premium over its issue price

Aeroflex’s impressive performance can be attributed to its dominant position in the market, characterised by substantial entry and exit barriers. The company's initial public offering (IPO) received significant investor interest from both institutional and retail segments. READ MORE

10:39 AM

Here's how Indian rice exporters are finding ways to get past the curbs

This comes just days after the Centre on Sunday imposed a temporary ban on the export of any basmati rice for less than $1,200 per tonne. The move, which will remain effective till October 15, was to restrict "illegal shipment of white non-basmati rise in the garb of premium basmati rice. READ MORE

10:27 AM

JSW group keen to launch car in EV segment at Rs 15-20 lakh price tag

Group is in talks with several Chinese players for tech partnership; in race to buy stake in MG Motor. READ MORE

10:17 AM

Markets see 70% chance of Modi-led BJP forming the next govt: Jefferies

Out of the last four national elections, the previous two elections results were more on the expected lines, yet the Indian market outperformed MSCI AxJ during the election results period. READ

10:08 AM

BUMPER LISTING: Aeroflex Industries debuts at 82% premium over issue price

The issue price was Rs 108. 

10:03 AM

Adani group stocks slide on new allegations of family partners buying own shares

Millions of dollars were invested in some publicly traded stocks of India's Adani Group via "opaque" Mauritius funds that "obscured" involvement of alleged business partners of the Adani family, the Organised Crime and Corruption Reporting Project (OCCRP) said in an article on Thursday.

9:48 AM

Natco Pharma gains on buying 5.8% stake in US-based pest control firm for $2 million

The company has invested $2 million in ISCA, Inc, a Delaware-based corporation involved in pest control for agriculture. The strategic investment for a 5.79 per cent stake.