Stock Market Crash Highlights: Sensex sinks 1064pts, Nifty ends below 24340; Auto, banks, metals dip

Markets Crash Today Highlights: The day ended in favour of bears as all the constituent stocks of Nifty50, barring Cipla and ITC, ended in the red

11:48 AM

Stock Market LIVE Updates: Mankind Pharma rises on launching QIP at floor price of Rs 2,616.55

Stock Market LIVE Updates: Mankind Pharma shares rose 2.3 per cent in trade and recorded an intraday high at Rs 2,753 per share on BSE. The buying in the stock came a day after the company launched its qualified institutional placement (QIP) at a floor price of Rs 2,616.55 per share. This implies a discount of 2.4 per cent from Monday's closing price. The QIP aims to raise funds to Rs 3,000 crore as per its filing.

 

A QIP is a method of raising capital by a publicly listed company through the sale of securities (such as equity shares or convertible securities) to qualified institutional buyers (QIBs). It is a way for companies to raise funds without the need for a public offering or a rights issue. READ MORE

 

11:35 AM

Stock Market LIVE Updates: Texmaco Rail share zooms 5% on securing order worth Rs 187 crore; details

Stock Market LIVE Updates: Texmaco Rail & Engineering shares rose up to 4.60 per cent to hit an intraday high of Rs 239.65 apiece on Tuesday, December 17, 2024. 

 

The rise in the Texmaco Rail share price came after the company announced that it has secured an order of approximately Rs 187.41 crore from Chhattisgarh State Power Transmission Company Limited. READ MORE

 

 

11:24 AM

Stock Market LIVE Updates: This Vijay Kedia portfolio SME stock zoomed 949% over issue price in 9 mths

Stock Market LIVE Updates: Shares of TAC InfoSec (TAC Security) hit a new high of Rs 1,112.45, as they locked in an upper circuit of 5 per cent on the National Stock Exchange (NSE) on Tuesday in intra-day trade in an otherwise weak market. At 10:43 AM, the Nifty 50 was down nearly 1 per cent.

The shares of the small and medium enterprises (SME) cybersecurity company were locked in upper circuit for the 9th straight day, surging 46 per cent during the period. READ MORE

 

11:15 AM

Stock Market LIVE Updates: China plans record budget deficit of 4% of GDP in 2025, up from 3%

Stock Market LIVE Updates: Chinese leaders agreed last week to raise the budget deficit to 4 per cent of gross domestic product (GDP) next year, its highest on record, while maintaining an economic growth target of around 5 per cent, two sources with knowledge of the matter said.

 

The new deficit plan compares with an initial target of 3 per cent of GDP for 2024, and is in line with a "more proactive" fiscal policy outlined by leading officials after December's Politburo meeting and last week's Central Economic Work Conference (CEWC), where the targets were agreed but not officially announced. READ MORE

 

 

11:13 AM

Stock Market LIVE Updates: ITAT ruling: Cryptocurrencies now recognised as capital assets for taxation

Stock Market LIVE Updates: In a landmark ruling, the Income Tax Appellate Tribunal (ITAT) in Jodhpur has provided clarity on the tax treatment of cryptocurrencies in India. The decision, which recognizes cryptocurrencies as capital assets, impacts how gains from cryptocurrency sales are taxed, especially for transactions that occurred before the government introduced specific regulations for Virtual Digital Assets (VDAs) in 2022.

 

The ITAT ruled that cryptocurrencies are assets and that profits from their sale should be classified as capital gains rather than income from other sources. This distinction is significant because, before the ruling, there was no clear direction on whether cryptocurrency profits should be treated as capital gains or under the head of "income from other sources." READ MORE

 

 

11:09 AM

Stock Market LIVE Updates: RVNL share price surges 3% after Rs 270 cr order from Maharashtra Metro

Stock Market LIVE Updates: Shares of Rail Vikas Nigam Ltd (RVNL) surged up to 2.57 per cent at 482 per share on the NSE in Tuesday’s intraday deals. This came after the company received a letter of acceptance from Maharashtra Metro Rail Corporation for an order worth Rs 270 crore.

 

The project includes construction of elevated metro stations for NMRP Phase-2 subsuming seven stations in Reach 3A—Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Station, and Hingna—and three stations in Reach 4A—Pardi, Kapsi Khurd, and Transport Nagar. READ MORE

 

 

11:03 AM

Stock Market LIVE Updates: 11 AM market update - Sensex, Nifty pare some losses

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower on Tuesday, amid mixed global cues.

At 11 AM, the BSE Sensex was lower by 594.91 points, or 0.73 per cent, at 81,153.66, and the Nifty 50 was at 24,499.90, lower by 168.35 points, or 0.68 per cent.

 

10:52 AM

Stock Market LIVE Updates: Gravita India gains 6% after launching QIP; check floor price, issue size

Stock Market LIVE Updates: Gravita India shares gained 5.8 per cent in Tuesday's trade and recorded an intraday high at Rs 2,370 per share on BSE. The buying in the stock came a day after the company launched its qualified institutional placement (QIP).

 

Around 9:23 AM, Gravita share price was up 5.08 per cent at Rs 2,352.75 per share on BSE. In comparison, the BSE Sensex was down 0.26 per cent at 81,533.13. The market capitalisation of the company stood at Rs 16,242.90 crore. The 52-week high of the stock was at Rs 2,699.85 per share and the 52-week low was at Rs 730.95 per share. READ MORE

 

 

10:46 AM

Stock Market LIVE Updates: Anant Raj climbs 5%; hits new high on allotment of warrants to promoters

Stock Market LIVE Updates: Anant Raj shares hit a new high of Rs 824, gaining 5 per cent on the BSE in Tuesday’s intra-day trade in an otherwise subdued market after the company approved the allotment of 1.37 million convertible warrants worth of Rs 100 crore to its promoter Shri Ashok Sarin Anant Raj LLP.
 

The stock of the real estate company has rallied 9 per cent in two days. In comparison, the BSE Sensex was down 0.4 per cent at 81,429 at 09:35 AM. READ MORE

 

10:38 AM

Stock Market LIVE Updates: IGI IPO closes today: Check subscription status, GMP, and listing schedule

Stock Market LIVE Updates: The three-day subscription window for the Rs 4,225 crore initial public offering (IPO) of International Gemmological Institute (India) is set to conclude today, Tuesday, December 17, 2024.

 

The IGI IPO, which opened for public subscription on Friday, December 13, 2024, has so far witnessed subdued participation from investors. The public offering has received bids for 4,24,06,035 shares against the 5,85,60,902 shares on offer, resulting in a subscription of 0.72 times by the end of December 16, 2024. READ MORE

 

 

10:33 AM

Stock Market LIVE Updates: Which newly listed stocks may see changes in Amfi stock reclassification?

Stock Market LIVE Updates: The Association of Mutual Funds in India (Amfi) is expected to announce its semi-annual stock recategorisation, likely in the first week of January 2025.

 

Ahead of the announcement, Nuvama Alternative and Quantitative Research has released a list of "potential" changes in market-capitalisation (market-cap or m-cap) recategorisation of various stocks, including Rail Vikas Nigam, ICICI Prudential Life Insurance, Indus Towers, Hyundai Motors India, Swiggy, Bajaj Housing Finance, Adani Total Gas, IndusInd Bank, IDBI Bank, Waaree Energies, and Ola Electric Mobility among others. READ MORE

 

 

10:24 AM

Stock Market LIVE Updates: SPARC signs LoI with UCSF for 55% stake in Tiller Therapeutics & oncology assets IP

Stock Market LIVE Updates: Sun Pharma Advanced Research Company (SPARC) today announced the signing of a binding Letter of Intent (LOI) with the University of California, San Francisco (UCSF), through the office of OTMA, and Tiller Therapeutics Inc. (Tiller), to license SPARC’s rights in the joint intellectual property (IP) held between SPARC and UCSF for pre-clinical oncology asset along with associated IP. The LOI outlines the key terms of license and rights for development and commercialisation by Tiller.

The company, in an exchange filing, said, "Under the terms of the LOI, SPARC will receive 55 per cent equity stake in Tiller upon execution of LOI. The equity will vest in two tranches; 45 per cent equity will vest upon execution of license agreement and the remaining 10 per cent equity will vest at the earlier of achievement of certain milestones by Tiller or within 6 months of execution of license agreement".

Other terms of the license will be outlined in the license agreement, it added.

 

10:22 AM

Stock Market LIVE Updates: Quess Corp zooms 9%; Antique initiates coverage on stock with 'Buy' call

Stock Market LIVE Updates: Quess Corp shares advanced 9.2 per cent in Tuesday's trade and recorded an intraday high at Rs 732.65 per share on BSE on an improving outlook. On NSE, 2.43 million shares changed hands, while on BSE 0.064 million shares were traded.

 

Around 9:48 AM, Quess share price was up 9.01 per cent at Rs 730.85 per share on BSE. In comparison, the BSE Sensex was down 0.44 per cent at 81,386. The market capitalisation of the company stood at Rs 10,862.31 crore. The 52-week high of the stock was at Rs 875 per share and the 52-week low was at Rs 460 per share. READ MORE

 

10:17 AM

Stock Market LIVE Updates: Jungle Camps India IPO listing today: Shares list at 90% premium on BSE SME

Stock Market LIVE Updates: Jungle Camps India made a remarkable debut on the BSE SME today, listing at Rs 136.80 per share, a 90 per cent premium over the IPO allotment price of Rs 72.

 

Jungle Camps India IPO listing performance outshined grey market expectations. Ahead of the IPO debut, Jungle Camps India's unlisted shares were trading at Rs 132 in the grey market, reflecting a premium of Rs 60 or 83.33 per cent over the upper end of the IPO price band of Rs 72, as per the sources tracking unofficial market activities. READ MORE

 

 

10:07 AM

Stock Market LIVE Updates: Bumper debut! Toss The Coin lists at 90% premium, hits upper circuit later

Stock Market LIVE Updates: Shares Toss The Coin made a solid debut on the BSE SME today, continuing their upward momentum to hit the upper circuit within a few minutes of listing. The company's stock listed at Rs 345.8 a piece, a 90 per cent premium over the IPO allotment price of Rs 182.

After listing, the stock gained an additional 5 per cent, surging 99.4 per cent from the issue price to reach the upper circuit of Rs 363.05 apiece on the BSE SME. READ MORE