Sensex gains 496 pts, Nifty tops 21,600; Mkts to hold spl session Saturday

Stock market highlights on January 19, 2024: The S&P BSE Indices will be calculated on Saturday, January 20, 2024 , which is declared as a special trading day by the exchange

2:12 PM

Reddit may launch IPO in March, nearly 3 years since its initial filing

Reddit is planning to launch its initial public offering (IPO) in March of this year after nearly three years since its initial filing in December 2021, according to a report by Reuters. The social media platform is planning to make the next steps in the following months and complete the process by the end of February, commence its roadshow in early March, and aims to conclude the IPO by the end of March. READ MORE

2:01 PM

IndusInd Bank drops 3% as analysts see limited near-term upside post Q3

Shares of IndusInd Bank declined 3.2 per cent to Rs 1,561 apiece on the BSE in Friday's intraday trade after its Q3FY24 results. READ MORE

1:49 PM

ALERT:: Central Bank of India Q3 net rises 57%; stock up 2%

Central Bank of India Q3 net profit surged 56.8 per cent to Rs 718 crore for the quarter ended December 2023 when compared with Rs 458 crore in Q3FY23. Net interest income declined 4 per cent YoY to Rs 3,152 crore from Rs 3,285 crore.

1:36 PM

ALERT:: UltraTech Cement Q3 consolidated net jumps 67%; stock up 2%

UltraTech Cement Q3 consolidated net profit rose 67 per cent to Rs 1,774.78 crore for the quarter ended December 2023 as against Rs 1,062.58 crore in the corresponding quarter a year ago. Total income increased 7.9 per cent YoY to Rs 16,880.45 crore.

1:23 PM

Asian Market Update:: Nikkei, Kospi, Taiwan shine with gains up to 2.6%

Source: Investing.com

1:09 PM

Railway-related stocks rally up to 18%; IRFC m-cap crosses Rs 2 trillion

RVNL, IRFC, IRCON International, NBCC, RailTel Corporation of India and Texmaco Rail & Engineering were up in the range of 5% to 18%. READ MORE

12:57 PM

OFSS, IRFC zoom up to 70% so far in 2024! Charts show more legs in rally

The S&P BSE Sensex has swung nearly 4 per cent so far in this period, from a new all-time high of 73,428 to a low of 70,666, and is down around 2 per cent. The on and off bets on US Fed rate cuts in March, geopolitical worries, higher valuations back home and Q3 earnings are seen as the triggers for the market volatility. READ MORE

12:43 PM

Sony Board to take call on $10 billion merger with Zee Entertainment today

Sony and Zee have faced disagreements regarding Zee's Managing Director and Chief Executive Officer, Punit Goenka, leading the merged entities. Sony has been advocating for NP Singh, its India MD and CEO, to serve as the chief executive of the new entity in the interim unless Goenka is exonerated in all pending cases. READ MORE

12:29 PM

Aarti Ind jumps 13% in 2 days on winning long-term contract worth Rs 6K cr

AIL has signed a long-term agreement with a multinational conglomerate for supply of a niche speciality chemical. The contract is expected to generate revenue of over Rs 6,000 crore for the company READ MORE

12:16 PM

Temple fever grips Indians, lifts travel demand and hotel bookings

"Given the comparatively small visitor base for Ayodhya previously, we see a 5X upside in searches (year-on-year) and are already recording 4X more bookings as compared to the last year. Expectedly, the duration of January 10-22 is seeing a sharp increase in bookings,” said Rajesh Magow, co-founder and Group CEO, MakeMyTrip. READ MORE

11:57 AM

Corporate India on overdrive to celebrate Ram Mandir inauguration

Reliance Industries has also set up a water distribution stall and will hand out free packaged water to devotees. RIL sells the packaged water under the brand, Independence. READ MORE

11:41 AM

Multiple headwinds ahead for ICICI Prudential Life Insurance Company

The commission expense is due to the revamped commission structure. Unit-linked products recorded growth of 8.7 per cent Y-o-Y in the APE. The product mix seems skewed towards par products and unit-linked instead of non-par products. READ MORE

11:25 AM

HUDCO rallies 14% on heavy volumes; zooms over 100% since November

At 09:56 am Friday, HUDCO was the top gainer on the BSE 500 index. It was up 13 per cent at Rs 155.35 as compared to a 0.83 per cent rise in the BSE Sensex. The average trading volumes on the counter jumped 1.5 times. A combined 65.66 million equity shares changed hands on the NSE and BSE. READ MORE

11:10 AM

Asian Paints needs fresh coat as margin pressures build up in markets

While the Q3 volume show was slightly below expectations, the company’s operational and bottom line beat estimates, benefiting from the falling raw material costs. The stock ended the day with a decline of over 2 per cent at Rs 3,175 apiece.  The company reported a decorative paints volume growth of 12 per cent over the year-ago quarter, which was marginally below brokerage estimates and was led by double-digit expansion in the rural and urban markets. READ MORE

10:55 AM

ALERT :: Zydus Worldwide DMCC has entered into an exclusive licensing and supply agreement with Synthon BV

>> Zydus Lifesciences Ltd. has announced that its wholly owned subsidiary, Zydus Worldwide DMCC, has entered into an exclusive licensing and supply agreement with Synthon BV for Palbociclib Tablets (a generic version of IBRANCE) for the US market.

>> Under the terms of this agreement, Synthon will be responsible for obtaining US regulatory approval for Palbociclib Tablets, and thereafter, for the manufacturing and supply of the product. Zydus will be responsible for commercialization of the oncology product in the US.