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.

11:07 AM

Contra funds become the flavour of the season: Should you invest?

Equity-oriented funds continued to witness net inflows for a thirty-third consecutive month in November 2023, though flows declined 22 per cent month-on-month to Rs 15,536.4 crore from Rs 19,957.1 crore in October 2023. Read

10:59 AM

Alert: Ashok Leyland unveils AL H6 Diesel – CEV Stage V engine

via CNBC-TV18

10:49 AM

3 PE firms offload 7.9% in Mankind; Motisons Jewellers IPO to open Dec 18

Three private equity (PE) inv­e­stors offloaded 7.9 per cent stake worth Rs 5,589 in Man­k­ind Pharma on Tuesday. Beige, an affiliate of Chrys Capital, sold 4.47 per cent stake worth Rs 3,282 crore. Mea­n­while, Cairnhill CIPEF and Hema CIPEF sold 1.74 per cent and 1.4 per cent stake, respectively. The deals took place at around Rs 1,832 apiece. Shares of Mankind fell 3.6 per cent to close at Rs 1,849. Read

10:40 AM

Several banks raise FD rates in December, offer up to 8% interest

A slew of banks have raised the interest rates on fixed deposits in December. On Monday, Kotak Mahindra Bank raised fixed deposit (FD) interest rates by up to 85 basis points. Kotak Mahindra customers can now earn up to 7.80 per cent on senior citizen FDs with tenures ranging from 23 months to two years. Read

10:29 AM

Max Healthcare up 9% in one week post Lucknow-based Sahara Hospital buyout

Shares of Max Healthcare Institute (MHIL) hit a new peak at Rs 717.65, as they gained nearly 3 per cent on the BSE in Wednesday’s intra-day trade in an otherwise subdued market. In comparison, the S&P BSE Sensex was down 0.08 per cent at 69,495 at 09:41 AM. Read

10:16 AM

SBI Mutual Fund buys 1.5% stake Karur Vysya Bank for Rs 190 crore

SBI Mutual Fund on Tuesday acquired shares of scheduled commercial bank Karur Vysya Bank for Rs 190 crore through open market transactions.

According to the bulk deal data available with the BSE and NSE, SBI Mutual Fund (MF) purchased a total of 1,20,00,000 shares, amounting to a 1.5 per cent stake in Karur Vysya Bank. Read

10:08 AM

ITC's FMCG biz grows at 14% CAGR in last 3 yrs, Aashirvaad Rs 8k cr brand

Diversified group ITC's FMCG business expanded at a compounded annual growth rate of 14 per cent in the last three years while its Aashirvaad brand has become an Rs 8,000 crore product in terms of consumer spends, according to a company presentation. Read

9:54 AM

Expert View: Short-term trend bullish despite high valuations

The short-term undercurrent of the market is bullish despite the high valuations. The growth momentum in the economy, the sustained buying by DIIs and retail investors, reversal of the FPI strategy from selling to buying and favourable global cues will keep the market resilient.

From the global perspective, tonight’s Fed message is important in setting the global market trend. Markets will wait for the Fed chief’s message before taking a decisive turn.  

 

Leading banks, capital goods, cement, oil marketing companies and the leading airline companies are on strong wicket.

Views by V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

9:43 AM

Paul Merchants jumps 2%; to consider bonus issue on Dec 20

The board will meet on Dec 20 to consider and approve bonus share issue in the ratio of 2:1.

9:40 AM

Force Motors up 1% as board approves buying 12% stake in Tata Power Renewable arm

The firm's board has approved a plan to acquire 12.2 per cent stake in TP Surya, a wholly owned subsidiary of Tata Power Renewable Energy, to procure solar power from a specific solar plant, which will be established by TP Surya under Open Access Mode. 

9:37 AM

KIOCL falls on temporary pause in ops at Mangalore unit

The company has temporarily suspended operations at its Mangalore plant due to the non-availability of iron-ore fines.

9:35 AM

SRF erases gains; commissions two of four new plants at Rs 225 crore

The company said two of the four new planned plants have been commissioned and capitalized at an aggregate cost of Rs 225 crore.

9:33 AM

Axis Bank slips 1% on likely block deal

PE giant Bain Capital was reported to sell up to 1.1 per cent stake in Axis Bank via a block deal, as per Moneycontrol.

9:31 AM

Laurus Labs dips 2% as US FDA issues Form 483 with 5 obs on arm's unit

Laurus Synthesis, a wholly owned subsidiary of Laurus Labs, has been issued a Form 483 with five observations after the US FDA inspected its manufacturing facility in Parawada, Anakapalli, near Visakhapatnam between Dec 4-12. 

9:27 AM

Auto, FMCG, Metals gain; IT index top laggard