Stock Market Close Highlights: Sensex extends gain, adds 600pts, Nifty above 24,450; PSU banks lead

Stock Market Highlights: The day ended in favour of the bulls as 41 out of the 50 constituent stocks of the Nifty50 ended in positive territory, with gains led by Adani Ports, and NTPC

2:18 PM

Stock Market LIVE Updates: PFC incorporates SPV to start bidding process for 3GW power evacuation project

Stock Market LIVE Updates: Power Finance Corporation today informed that its wholly owned subsidiary PFC Consulting has incorporated a Special Purpose Vehicle (SPV) company that will work towards readying a plan to evacuate 3 GW (under Phase I) renewable energy through transmission lines from Raghanesda area of Gujarat.

The company, in an exchange filing, said, "This is to inform that the following Special Purpose Vehicle (SPV) Company has been incorporated as a wholly owned subsidiary of PFC Consulting Limited (PFCCL) (a wholly owned subsidiary of Power Finance Corporation Limited (PFC)."

The company added that a SPV is needed to take up various preparatory activities of the transmission projects, including survey and preparation of report, initialisation of the process of acquisition of land and also initiate the process of seeking forest clearance, if required.

The SPV has to be transferred to the Successful Bidder selected through International Competitive Bidding Process under Tariff Based Competitive Bidding Guidelines for Transmission Service issued by Ministry of Power, it noted 

 

2:11 PM

Stock Market LIVE Updates: Tata Power rises 3% as subsidiary commissions 431 MW DC solar project in MP

Stock Market LIVE Updates: Electric power distribution company Tata Power shares rose up to 2.79 per cent to an intraday high of Rs 427.80 per share on Tuesday, December 3, 2024. 

 

The northward move in the Tata Power scrip came after the company announced that its subsidiary, Tata Power Renewable Energy Limited (TPREL), has successfully commissioned the 431 MW DC solar project at Neemuch in Madhya Pradesh. “Perceived to be one of India’s most cost-effective bids for large-scale solar energy production, the project was won through a competitive bidding process,” Tata Power said in a statement. READ MORE

 

2:01 PM

Stock Market LIVE Updates: 2 PM market update - Sensex, Nifty at day's high

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading higher on Tuesday.

At 2 PM, the BSE Sensex was 648.8 points, or 0.81 per cent higher, at 80,896.87, while the Nifty 50 was at 24,466, higher by 190 points, or 0.78 per cent.

 

1:53 PM

Stock Market LIVE Updates: MOIL shares jump 7% in trade; here's what's boosting rally in stock

Stock Market LIVE Updates: MOIL shares jumped 7.2 per cent on Tuesday and logged an intraday high at Rs 342.3 per share. The rally in the stock came after the company announced it had achieved the best November performance.

 

Around 1:03 PM, MOIL share price was up 5.83 per cent at Rs 337.85 per share. In comparison, the BSE Sensex was up 0.66 per cent at 80,777.2. The market capitalisation of the company stood at Rs 6,874.75 crore. READ MORE

 

1:42 PM

Stock Market LIVE Updates: MapmyIndia slips 12% in 2 days as Rohan Verma exits as CEO to float new co

Stock Market LIVE Updates: Shares of C.E. Info System-owned MapMyIndia dipped 8 per cent to Rs 1,546.20 on the BSE in Tuesday’s intra-day trade, extending its previous day’s fall in an otherwise firm market. The stock is trading close to its 52-week low price of Rs 1,545 that it touched on November 22, 2024.

 

In comparison, the BSE Sensex was up 0.7 per cent at 80,789 at 12:40 PM. Since November 8, in 16 trading days, the stock has tanked 25 per cent. READ MORE

 

1:29 PM

Stock Market LIVE Updates: Upcoming IPOs: NSDL, Mobikwik, Belstar MFI among 29 Sebi okayed share sale

Stock Market LIVE Updates: India's primary market is poised to maintain its strong momentum in 2024, fueled by a robust pipeline of initial public offerings (IPOs). So far, 75 mainline IPOs have debuted on the stock exchanges, as per the BSE IPO performance tracker.

 

This number is expected to grow further, with 29 companies already securing approval from the Securities and Exchange Board of India (Sebi) for their upcoming share sales, according to a report by Axis Capital. READ MORE

 

1:16 PM

Stock Market LIVE Updates: Vakrangee partners with Central Bank of India to offer pan-India banking services

Stock Market LIVE Updates: Vakrangee Limited (VL) today informed that it has entered into an agreement with Central Bank of India as Corporate Business Correspondent (CBC) for offering Banking Services across India.

The company, in an exchange filing, said, "This partnership will expedite the expansion of Vakrangee's network, reinforcing our presence across both rural and urban landscapes of the nation." 

Under this partnership, Vakrangee will provide banking services across India, including opening of savings and current bank account (through e-KYC), fixed /recurring /term deposit account, Public Provident Fund (PPF) / Sukanya Samridhi Scheme (SSS), cash deposit / withdrawals / fund transfer facility, collection / recovery of loans, and enrolment under micro insurance scheme under PMSBY / PMJJBY / APY scheme, among others.

1:07 PM

Stock Market LIVE Updates: Torrent Power up 6% after launching QIP at floor price of Rs 1555.75 apiece

Stock Market LIVE Updates: Torrent Power shares jumped 5.8 per cent on Tuesday and logged an intraday high at Rs 1,678.85 per share. The buying sparked after the company launched its qualified institutional placement (QIP).

 

Around 11:42 AM, Torrent Power share price was up 5.05 per cent at Rs 1,666.5 per share. In comparison, the BSE Sensex was up 0.63 per cent at 80,755.83. The market capitalisation of the company stood at Rs 80,094.79 crore. The 52-week high of the stock stood at Rs 2,037.35 per share and 52-week low of the stock stood at Rs 869.35 per share. READ MORE

 

1:04 PM

Stock Market LIVE Updates: 1 PM market update - Sensex, Nifty maintain lead

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading higher on Tuesday.

At around 1 PM, the BSE Sensex was 529 points, or 0.66 per cent higher, at 80,777, while the Nifty 50 was at 24,425, higher by 149 points, or 0.61 per cent.

 

12:53 PM

Stock Market LIVE Updates: KPI Green charges up 4% on securing Rs 1,311-cr order from Coal India

Stock Market LIVE Updates: KPI Green Energy shares gained 3.9 per cent on Tuesday and logged an intraday high at Rs 810 per share. The stock gained after the company bagged the largest-ever order from Coal India. Around 12:27 PM, KPI Green share price was up 3.05 per cent at Rs 803 per share. In comparison, the BSE Sensex was up 0.52 per cent at 80,662.08. The market capitalisation of the company stood at Rs 10,540.21 crore. The 52-week high of the stock stood at Rs 1,116 per share and 52-week low of the stock stood at Rs 375.19 per share. READ MORE

12:45 PM

Stock Market LIVE Updates: Adani Ports up 6% on healthy volume guidance; Motilal reiterates BUY call

Stock Market LIVE Updates: Shares of Adani Ports and Special Economic Zone (APSEZ) jumped up to 6 per cent to Rs 1,294.15 on the BSE in Tuesday’s intra-day trade backed by heavy volumes on a healthy guidance. The stock of Adani Group Company was quoting higher for the third straight trading day and has rallied 11 per cent during the period. Between November 21 and 28, in the six trading days, the stock had dipped 13 per cent after the indictment of Gautam Adani and other senior Adani Group executives on bribery and other charges. READ MORE

12:45 PM

Stock Market LIVE Updates: Rs 100 lakh cr by 2030: PMS, AIFs are next big bet for wealthy investors

Stock Market LIVE Updates: Entering a new phase of growth, assets managed by the Indian alternative investment industry, comprising Portfolio Management Services (PMSes) and Alternative Investment Funds (AIFs), is set to cross Rs 100 lakh crore mark by 2030, as per a study by PMS Bazaar.  To give you some perspective, that’s more than five times the current value in just 6 years. READ MORE

12:44 PM

Stock Market LIVE Updates: Here's why Gland Pharma share was up 3% on December 3; details here

Stock Market LIVE Updates: Shares of pharmaceutical company Gland Pharma rose up to 2.59 per cent to hit an intraday high of Rs 1,825.50 per share on Tuesday, December 3, 2024. The uptick in Gland Pharma share came after the company said that it has received approval from the United States Food and Drug Administration (US FDA) for Latanoprost Ophthalmic Solution, 0.005 per cent (2.5 mL Fill). READ MORE

12:34 PM

Stock Market LIVE Updates: Gautam Singhania faces opposition over Raymond Lifestyle's chairman role

Stock Market LIVE Updates: Gautam Singhania’s proposed appointment as executive chairperson of Raymond Lifestyle has drawn sharp criticism from corporate governance watchdogs. Two corporate governance advisory firms, Empowerment Services (SES) and Institutional Investor Advisory Services India (IiAS) have urged shareholders to reject the move, citing concerns over governance, transparency, and reputational risks, according to a report by The Economic Times. 

Their recommendations come at a crucial time, when shareholders are currently voting on the proposal, which seeks to formalise Singhania’s role for five years starting September 1, 2024. READ MORE

 

12:24 PM

Stock Market LIVE Updates: Adani-linked firms file settlement bids in Sebi's public shareholding probe

Stock Market LIVE Updates: Entities associated with the Adani Group have reportedly approached the Securities and Exchange Board of India (Sebi) to settle allegations of violating public shareholding norms in four of the group’s listed companies. Among the applicants is Emerging India Focus Funds (EIFF), a Mauritius-based foreign portfolio investor allegedly linked to Vinod Adani, the elder half-brother of Gautam Adani. According to a report by The Economic Times, EIFF has proposed a settlement amount of Rs 28 lakh.

 

Other Adani-linked individuals, including Vinay Prakash, a director at Adani Enterprises, and Ameet Desai, a director at Ambuja Cements, have each offered Rs 3 lakh to settle the case. READ MORE