Sensex surges 455 pts, Nifty tops 21,900; IT index jumps 3%, YES Bank 12%

Stock market highlights on February 6, 2024: The Nifty Auto, Metal, and Pharma added over 1 per cent each

2:20 PM

Adani begins discussions for first dollar bond sale since Hindenburg

The sprawling ports-to-power empire has trimmed debt, pared founders' share pledges and landed major projects over the past year, helping to rebuild confidence among investors and lenders. READ MORE

2:10 PM

Demat addition, trading turnover point to robust investor sentiment

Investor sentiment in the $4.6-trillion domestic equity markets continues to be buoyant, marked by surging new accounts and trading volumes. The average daily turnover (ADTV) and fresh dematerialised (demat) adds hit record highs. READ MORE

1:59 PM

India to see investment of $67 bn in next 5-6 years in energy sector: PM

Prime Minister Narendra Modi on Tuesday said that India will see an investment of USD 67 billion in the energy sector in next 5 to 6 years as he invited global investors to participate in India's growth story. READ MORE

1:51 PM

Earnings ALERT:: Go Fashion Q3 net dips 4%; stock gains 2%

Go Fashion (India) today reported a 3.7 per cent decline in Q3FY24 net profit at Rs 23.40 crore when compared with Rs 24.31 crore in Q3FY23. Total income. however, was up 15.8 per cent YoY at Rs 206.31 crore.

1:40 PM

L-T wins contract for Assam bridge, to boost link to textile hub Sualkuchi

The construction arm of Larsen & Toubro Limited (L&T) bagged a contract by the Assam government to build a 12.21 kilometres long bridge connecting Palashbari and Sualkuchi towns in the northeastern state, the Indian multinational conglomerate said on Tuesday. READ MORE

1:27 PM

Asian Market Check: Hang Seng, Shaghai soar up to 4%

Source: Yahoo Finance

1:15 PM

Paytm CEO Vijay Shekhar, officials meet RBI to discuss regulatory concerns

The Reserve Bank of India last week ordered Paytm affiliate Paytm Payments Bank to wind down most of its business, including deposits, credit products and its popular digital wallets. READ MORE

1:03 PM

LIC tops Rs 1,000-mark; Can rally another 13% suggests tech chart

Life Insurance Corporation of India (LIC) on Monday topped the Rs 1,000-mark for the first time ever. The stock had debuted on the bourses in September 2022, after issuing shares at Rs 904 each for retail investors. Read

12:52 PM

India's FMCG market grew in Q3 FY24 on higher consumption: Report

India’s fast-moving consumer goods (FMCG) industry grew by 6.4 per cent in volume in the October-December quarter (Q3 FY24) on the back of increased consumption, said a research firm’s report on Tuesday. Read

12:42 PM

ChrysCapital looking to raise $300 million to maintain stake in NSE

ChrysCapital Management Co. is looking to raise as much as $300 million for a new fund that will allow the buyout firm to hang on to its minority stake in India’s main stock exchange.  

 

The Indian private equity company is working with a team at UBS Group AG for a so-called continuation fund that will give it more time and capital to hold its investment in National Stock Exchange of India Ltd., according to people familiar with the matter. Read

12:29 PM

Pre-election rally: Nifty could rise to 23400 by June, buy on dips, says ICICI Securities

A pre-election rally in the stock market is on the cards with the Nifty expected to advance to 23,400 by June, and investors should use the current volatility as an opportunity to buy on dips, said brokerage ICICI Securities in a note. Read

12:16 PM

TCS rallies 4%, hits lifetime high; market cap crosses Rs 15 trillion

Tata Consultancy Services (TCS) became the second listed Indian company to cross Rs 15 trillion market capitalisation (market cap), as stock price of information technology (IT) giant rallied 4 per cent to hit a lifetime high of Rs 4,135.90 on the BSE in Tuesday’s intra-day trade. TCS’s market cap hit Rs 15.13 trillion in intra-day deals today. Read

12:01 PM

Adani begins discussions for first dollar bond sale since Hindenburg

Indian billionaire Gautam Adani’s group is in talks to raise about $500 million via dollar bonds, its first overseas issuance since a report by a US short seller last year prompted concerns about the conglomerate’s ability to refinance borrowings. Read

11:43 AM

HPCL, BPCL, IOCL: Here's why Morgan Stanley thinks OMC stocks can flare up

Stocks of Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL) have more headroom left despite the sharp run in the last few weeks, suggests a recent report from Morgan Stanley. Read

11:31 AM

HDFC Bank Group gets RBI approval to acquire 9.5% stake each in six banks

HDFC Bank Group on Tuesday announced that it has received the Reserve Bank of India's (RBI) approval to acquire "aggregate holding" of up to 9.5 per cent of the paid-up share capital or voting rights in six banks. These banks include Axis Bank, Survoday Small Finance Bank, ICICI Bank, Bandhan Bank, YES Bank and IndusInd Bank. Read