Sensex, Nifty end mildly higher amid fag-end buying ahead of Fed outcome

Closing Bell on December 13, 2023: The broader market space remained upbeat with the BSE MidCap and SmallCap indices ending 1.06 per cent and 0.73 per cent higher, respectively.

2:20 PM

Argentina to devalue peso by more than 50% to help its struggling economy

In recent years, Argentina's central bank has printed more of the peso to help the country's government avoid defaulting on its debt. That has resulted in skyrocketing prices. READ MORE

2:07 PM

Global check:: Hang Seng, Shanghai, Kospi slip up to 1% in Asian trade

Source: Yahoo Finance

1:57 PM

India Shelter Finance IPO: Should you invest in this housing finance firm?

India Shelter Finance Corporation Initial Public Offer (IPO) opened for subscription today, on Wednesday, December 13, 2023. The retail-focused affordable housing company aims to raise up to Rs 1,200 crore from the share sale. Read

1:44 PM

Reliance Retail to scale up distribution of clothing under B2B venture

Reliance Retail is scaling up distribution of clothing and fashion products to third-party stores, under its business-to-business (B2B) venture.

According to a report in The Economic Times (ET), the company has already launched over 50 such exclusive brands and it plans to increase the number by 2-3 times, under its strategy to expand the fashion business beyond its own stores. Read

1:30 PM

REC, PFC, IRFC zoomed over 200% in FY24. Time to exit PSU stocks?

Hope of higher capital expenditure ahead of state and general elections has proved to be a boon for stocks of public sector enterprises (PSEs) thus far in fiscal 2023-24 (FY24). The S&P BSE PSU index has surged nearly 51 per cent during this period, shows ACE Equity data, as compared to 17 per cent rise in the S&P BSE Sensex. Read

1:19 PM

Paytm hits over 8-month low; stock tanks 38% from its 52-wk high of October

Shares of One97 Communications, which owns fintech player Paytm, slipped 3 per cent to hit the lowest level in over eight months on Wednesday. The stock fell to Rs 596.85 on the BSE, its lowest level since March 22, 2023. Read

1:08 PM

Laurus Labs slips 4% as arm gets 5 observations post USFDA inspection

Laurus Synthesis Private Limited has been issued a Form 483 with five observations and the company plans to address the observations within stipulated timelines. Read

12:53 PM

Sebi halts Religare Commodities' registration in NSEL paired contracts case

Markets regulator Sebi on Tuesday suspended the registration of brokerage firm Religare Commodities for its alleged involvement in illegal paired contracts on the now defunct National Spot Exchange Ltd (NSEL).
 

By providing access for taking exposure to 'paired contracts', the brokerage exposed its clients to the risk involved in trading in a product that did not have regulatory approval, Sebi said in its order. Read

12:41 PM

Are you facing short-term credit issues? Opt for a secured credit card

The Reserve Bank of India (RBI) has increased the risk weighting for lenders offering unsecured loans. This is a pre-emptive measure to curb bad loans in the unsecured loan books of banks and non-banking financial companies (NBFCs). Read

12:19 PM

The Infosys saga: A leadership factory or a company facing crisis

Infosys share prices hit a low of 1.4 per cent during intraday trading as markets grappled with one of its latest leadership exits. Nilanjan Roy, Chief Financial Officer, Infosys, will be the ninth exit the company has seen in a year.
 

On Monday evening, the company in a stock exchange filing shared that Roy, who has been the CFO for the last four years, has decided to resign and he wants to explore other external opportunities. Read

12:07 PM

Top five companies account for 16% of India mcap, lower than DMs

India’s five most-valuable companies account for 16.3 per cent of the total market capitalisation (mcap). Developed markets (DMs) such the US, Germany and the UK have relatively higher contributions of top five companies in the total mcap. 
 

Among the top 10 nations in terms of market value, Saudi Arabia has the largest concentration, with top five companies accounting for over 80 per cent of its market value. Read

11:56 AM

Depositories ready ground for the secondary market ASBA facility

The Central Depository Services (CDSL) has said that it will release the ‘UPI block facility’ on December 29 and will be made effective from the following day.
 

The move comes ahead of implementation of the so-called ASBA (application supported by blocked amount) facility for the secondary market. Read

11:43 AM

Sebi extends deadline for AIFs dematerialisation till January 31

In a bid to ease the compliance burden of alternative investment funds (AIFs), the Securities and Exchange Board of India (Sebi) has given them more time to credit units into the demat account of investors.
 

Sebi has specified the process to be followed in cases where the investors have yet to provide the demat account details to AIFs. Read

11:31 AM

Axis Magnus to SBI Aurum: Top premium lifestyle cards for high earners

Most super-premium credit cards offer all-around benefits across multiple categories with a major focus on premium travel features like complimentary airport meet and greet service, membership to luxury hotels or unlimited airport lounge access. Generally, the reward rate on premium cards is also better than the regular cards and they may also provide better redemption options. Read

11:18 AM

Growth concerns weigh on PI Industries; stock slips 12% in 2 days

Shares of PI Industries continued to stay under pressure for a second straight day on Wednesday, down 3 per cent at Rs 3,389.95 on the BSE in the intraday trade, on growth concerns. The stock of the pesticides & agrochemicals company slipped 5 per cent from its intraday high of Rs 3,577.05 today. Read