Market Close Highlights, Sept 23: Sensex adds 384 pts; Nifty ends near 25,950; PSB index soars 3%

Stock Market Highlights: 34 out of 50 constituent stocks on Nifty50 ended higher with gains led by Bajaj Auto, Mahindra & Mahindra, ONGC, Hero MotoCorp, and SBI Life Insurance

1:34 PM

Stock Market LIVE Updates: Aadhar Housing rallies 6%, hits record high; JM Financial sees more upside

Stock Market LIVE Updates: Aadhar Housing Finance (Aadhar) share price hit a record high of Rs 493.10, rising 6 per cent on the BSE in Monday's intraday trade, after JM Financial Institutional Securities initiated coverage on the largest listed affordable housing financier with a 'Buy' rating and a target price of Rs 600.

The stock of the housing finance company surpassed its previous high of Rs 486.75, hit on July 23, 2024. Aadhar made its stock market debut on May 15, 2024. Currently, the stock is trading 57 per cent higher than the issue price of Rs 315 per share. READ MORE

1:22 PM

Stock Market LIVE Updates: NBCC unit secures order worth Rs 1,261-crore

Stock Market LIVE Updates: NBCC unit, HSCC India, has secured  an order worth Rs 1,261-crore from Healthy Ministry.

Soruce: BSE

1:21 PM

Stock Market LIVE Updates: AstraZeneca's experimental drug disappoints in breast cancer survival trial

Stock Market LIVE Updates: AstraZeneca said on Monday its experimental precision drug developed with Japan's Daiichi Sankyo did not significantly improve overall survival for patients with a type of breast cancer in a late-stage trial. The overall survival, or OS rates, in the TROPION-Breast01 Phase III trial of datopotamab deruxtecan (Dato-DXd), did not achieve statistical significance compared with chemotherapy, AstraZeneca said. READ MORE

 

1:19 PM

Stock Market LIVE Updates: India Glycols inks deal with Amrut Distilleries; share price surges 6%

Stock Market LIVE Updates: Shares of chemicals company India Glycols surged 5.94 per cent to hit an intraday high of Rs 1,333 per share on Monday, September 23, 2024. The surge in India Glycols share price came after the company announced that it has joined hands with Amrut Distilleries Private Limited, Bengaluru, for manufacturing, bottling, marketing and selling of Amrut’s few premium brands. READ MORE

1:18 PM

Stock Market LIVE Updates: Mankind Pharma up 4% as board approves raising Rs 10,000-cr via NCDs, CPs

Stock Market LIVE Updates: Mankind Pharma share price today gained as much as 4 per cent intraday, registering a high of Rs 2,649 per share, on the BSE on Monday. The pharmaceutical company's stock rose after its board approved raising funds up to Rs 10,000 crore through non-convertible debentures (NCD) and commercial papers. READ MORE

1:15 PM

Stock Market LIVE Updates: ONGC shares jump 3%; what's behind the rally?

Stock Market LIVE Updates: Shares of state-owned oil and gas exploration company, Oil and Natural Gas Corporation (ONGC), climbed up to 3.17 per cent to hit the day's high of Rs 295.35 on the BSE, during the intra-day deals on Monday. Meanwhile, the benchmark NSE Nifty index jumped 0.52 per cent to a record high of 19,925.80, just nearly 74 points shy of 26,000. READ MORE

 

1:10 PM

Stock Market LIVE Updates: Fueled by Rs 3,000 crore fundraise, SpiceJet to aim 100 aircrafts by 2026

Stock Market LIVE Updates: Domestic carrier SpiceJet has set a target for 100 aircraft by 2026, Chairman Ajay Singh told Economic Times on Monday. Singh’s remark followed as the airline has secured Rs 3,000-crore fund raise through the qualified institutional placement (QIP) route. READ MORE

 

1:06 PM

Stock Market LIVE Updates: MTAR Tech bags order from Defence Research & Development Laboratory

Stock Market LIVE Updates: MTAR Technologies has received a Rs 15.4 crore order for manufacturing and supply of full-scale and sub-scale combustors for the development of cutting-edge air-breathing engine technology for defence programmes.

Source: BSE

1:02 PM

Stock Market LIVE Updates: 1 PM market update - Benchmarks off record highs

Stock Market LIVE Updates: Indian equity benchmark indices BSE Sensex and Nifty 50, after hitting record highs at opening bell on Monday, were trading higher, led by gains in other Asian markets.

At 1:00 PM, the BSE Sensex was up 144 points, or 0.17 per cent, at 84,688, while the Nifty 50 was at 25,872, up 81 points, or 0.32 per cent.

12:59 PM

Stock Market LIVE Updates: Manba Finance IPO opens today: GMP up 50%; should you subscribe?

Stock Market LIVE Updates: The initial public offering (IPO) of Manba Finance opens for public subscription today. The company seeks to raise Rs 150.84 crore from the public issue by offering an entirely fresh issue of 12,570,000 shares.

Manba Finance IPO is available at a price band of Rs 114-116, with a lot size of 125 shares. Accordingly, investors can bid for a minimum of 125 shares and in multiples thereof. The minimum amount that a retail investor requires to bid for a Manba Finance IPO is Rs 15,000. READ MORE

 

12:46 PM

Stock Market LIVE Updates: Hind Rectifiers hits 5% upper circuit on order from Indian Railways

Stock Market LIVE Updates: Hind Rectifiers share price locked in 5 per cent upper circuit at Rs 856.65 per share on the BSE in Monday’s intraday deals. The stock price of the company jumped after it received a work order from Indian Railways worth more than Rs 200 crore on Saturday. 

Without specifying details the company in an exchange filing said that the supply order will be executed by the financial year 2025-26. READ MORE

 

12:38 PM

Stock Market LIVE Updates: CRISIL reaffirms 'AAA/Stable’ rating on ICICI Pru's Rs 1,200-cr subordinate debt

Stock Market LIVE Updates: ICICI Prudential Life Insurance Company today announced that CRISIL Ratings has reaffirmed its ‘CRISIL AAA/Stable’ rating on the company's Rs 1,200-crore subordinated debt.

The company, in an exchange filing, said, "The rating continues to factor in the strategic importance and support available from its parent, ICICI Bank Ltd, both on an ongoing basis and in the event of distress; established market position of ICICI Pru Life, well-diversified distribution channels, adequate capital position and healthy persistency metrics and profitability." 

The company added that these strengths are partially offset by its ability to sustain growth in various segments and challenges in sustaining profitability due to rising competition.

12:27 PM

Stock Market LIVE Updates: Bajaj Healthcare up 5% on deal with European co to supply API for clinical trials

Stock Market LIVE Updates: Bajaj Healthcare today announced that it has entered into a development and supply agreement for an Active Pharmaceutical Ingredient (API) with a European company. 

The company, in an exchange filing, disclosed that following the development of the API, it will initially be supplied in small quantities and will be used by the European partner to carry out clinical trials for an alternative indication.

The company added that based on the outcome of these trials, supplies will be done from the company’s FDA-approved manufacturing facility located at Savli, Vadodara.

Bajaj Healthcare added that till the outcome of these trials are received, it will be revenue neutral for the company.

 

12:18 PM

Stock Market LIVE Updates: Northern Arc IPO listing buzz: GMP resurges 55%; check likely listing price

Stock Market LIVE Updates: Following the allotment of Northern Arc Capital shares, investors await their market debut, which is expected to take place tomorrow, Tuesday, September 24, 2024. 

Meanwhile, the unlisted shares of Northern Arc Capital are trading at a premium of around Rs 144 against the IPO issue price of Rs 263, sources tracking grey market activities reveal. This translates to a strong grey market premium (GMP) of 54.75 per cent, hinting at substantial listing gains for investors. READ MORE

 

12:14 PM

Stock Market LIVE Updates: SpiceJet raises Rs 3,000 crore through QIP, to receive additional Rs 736 cr

Stock Market LIVE Updates: Domestic carrier SpiceJet on Monday said it has raised Rs 3,000 crore through a Qualified Institutional Placement (QIP).

The QIP, which opened on September 16 and closed on September 18, received an overwhelming response from qualified investors and got significantly oversubscribed, demonstrating strong confidence in the company's growth prospects, SpiceJet said in a statement.

In addition to Rs 3,000 crore funding, SpiceJet said it will also receive an additional Rs 736 crore from the previous funding round, further boosting its financial stability and growth plans. READ MORE