Sensex ends 228 pts higher, Nifty above 21900; M&M soars 7%, ZEEL dips 6%

Stock market highlights on February 15, 2024: Energy and oil & gas sector largecaps NTPC, Power Grid, BPCL and ONGC were among the top frontline gainers, closing 3-5 per cent up

2:43 PM

Green capital flows to emerging markets must be boosted: RBI governor

Financing for green projects is “skewed” and concentrated in advanced economies and capital flows to emerging market economies (EMEs) must be bolstered urgently, said Reserve Bank of India Governor Shaktikanta Das on Thursday. READ MORE

2:32 PM

UK economy slips into recession; Japan loses third-largest economy title

The economy of the United Kingdom sank into recession in the latter half of last year, giving a major blow to Prime Minister Rishi Sunak, who had promised to bring the economy on track after assuming office. Read

2:18 PM

Share price of this ONGC subsidiary has zoomed over 100% in 3 months

Shares of Mangalore Refinery & Petrochemicals (MRPL) hit a new high of Rs 240, as they surged 18 per cent on the BSE in Thursday’s intra-day trade backed by heavy volumes. The average trading volumes at the counter jumped nearly four-fold. Read

2:05 PM

ALERT: January trade deficit contracts to $17.49 billion from $19.8 billion in Dec

It was $17.03 billion a year ago. 

January exports at $36.92 billion vs $35.89 billion last year

January imports at $54.41 billion vs $52.83 billion last year

1:47 PM

ABFRL Q3 result: Net loss at Rs 107.60 cr, revenue at Rs 4,166.71 cr

Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 107.60 crore for the third quarter ended December 2023.
 

The company had posted a net profit of Rs 11.21 crore during the October-December quarter a year ago, according to a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL). Read

1:32 PM

M&M extends rally to record high; up 7% now

1:22 PM

Tata Group, Uber in talks for partnership to drive digital engagement

The Tata Group is in discussions with Uber Technologies to explore a strategic alliance aimed at boosting traffic volumes and engagement on Tata's digital platform, according to a report by the Economic Times (ET). The collaboration may involve integrating Uber's services as an 'anchor app' within the Tata Neu ecosystem. Read

1:08 PM

New US sanctions target India's biggest crude grades from Russia

After targeting vessels carrying premium Russian crudes like Sokol to India that violate a sanctioned price cap in December, Washington is now gunning for tankers transporting the cheaper, Russian benchmark Urals, enforcing new sanctions every month. Read

12:49 PM

Mahindra & Mahindra rallies 6%, nears record high on solid Q3 performance

Shares of Mahindra & Mahindra (M&M) rallied 6 per cent to Rs 1,750 on the BSE in Thursday’s intra-day trade amid heavy volumes after the company said the group delivered ‘solid’ operating performance across all business verticals except Tech Mahindra. The stock of Mahindra Group automobile company was trading close to its record high of Rs 1,758 touched on December 29, 2023. Read

12:33 PM

Hyundai seeks expansion and higher valuation with its $3 bn IPO in India

Hyundai Motor's planned $3 billion IPO in India will help the carmaker score two goals in one go: expand in one of the world's fastest growing markets and tackle the so-called "Korea discount" that suppresses the value of its business back home. Read

12:18 PM

ED questions Paytm officials, get documents following RBI's decision

The Enforcement Directorate has questioned senior Paytm executives and taken submission of documents from them following the recent RBI action of barring Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, official sources said Thursday. Read

12:04 PM

SBI up 2%; Supreme Court directs bank to stop electoral bond issues

The SC has struck down the electoral bond scheme and has asked SBI to submit details of electoral bonds bought by indisviduals/companies in three weeks. 

11:48 AM

Hindustan Unilever hits fresh 52-week low; brokerages share mixed outlook

Shares of Hindustan Unilever (HUL) hit a fresh 52-week low of Rs 2,362.10, down 1 per cent on the BSE in Thursday’s intra-day trade. Since January, the stock of fast moving consumer goods (FMCG) major has slipped 11 per cent on concerns of the near-term growth and higher competition. In comparison, the S&P BSE Sensex was down less than 1 per cent thus far in calendar year 2024. Read

11:36 AM

19% of global fund managers bullish on India; Japan most preferred: BofA

19 per cent of global fund managers remain bullish on India, suggests the latest BofA Asia Fund Manager Survey (FMS). A total of 249 panelists with $656 billion worth of assets under management (AUM) participated in the survey between February 2 and 8, BofA said. Read

11:17 AM

Lumax Auto hits all-time high; zooms 28% in 3 days on healthy Q3 results

Shares of Lumax Auto Technologies rallied 10 per cent to hit an all-time high of Rs 496.70 on the BSE in Thursday’s intra-day trade aided by a strong business outlook.
 

The stock of the auto ancillary company surpassed its previous high of Rs 469 touched on August 6, 2023. Read