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

12:01 PM

Stock Market LIVE Updates: 12 PM market update - Markets climb down from record levels

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 12:00 PM, the BSE Sensex was up 181 points, or 0.21 per cent, at 84,725, while the Nifty 50 was at 25,877, up 86 points, or 0.33 per cent.

12:00 PM

Stock Market LIVE Updates: Ratings on Union Bank's AT-1 and Tier II bonds of Rs 2,705 cr upgraded by Brickwork

Stock Market LIVE Updates: Union Bank of India today announced that Brickwork Ratings has upgraded the ratings on its AT-I and Tier II bonds worth Rs 2,705
crore.

The company, in an exchange filing, stated that Brickwork has upgraded the rating on its AT-I bonds worth Rs 1,705 crore, to 'AA+' with a stable outlook, from the earlier 'AA' rating with a stable outlook.

Similarly, the rating on the company's Rs 1,000 crore Tier II bonds have been upgraded to 'AAA' with a stable outlook, from 'AA+' with a stable outlook earlier.

11:49 AM

Stock Market LIVE Updates: Samvardhana raises Rs 6,438 cr via equity and CCD issuance

Stock Market LIVE Updates: Samvardhana Motherson International (SAMIL) today announced that it has successfully concluded its capital raise of Rs 6,438 crore (approximately $771 million) on September 20th, 2024.

The company, in an exchange filing, said, "The issue garnered strong interest from both domestic and foreign institutional investors, leading to substantial demand over the issue size. Over 95 per cent of allocations were made to marquee long-only investors such as mutual funds, insurance and pension funds, foreign institutional investors, etc." 

SAMIL added that the proceeds from the issuance will be mainly directed towards debt repayment, thereby further strengthening SAMIL’s balance sheet and enhancing its position to capitalise on various growth opportunities. Some of the proceeds will be used towards general corporate purposes as well, the company said.

11:40 AM

Stock Market LIVE Updates: RPower up 5%, hits 7-yr high ahead of board meeting to consider fundraise

Stock Market LIVE Updates: Reliance Power shares hit a seven-year high of Rs 38.16, and froze in 5 per cent upper circuit on the BSE on Monday’s intra-day trade ahead of the company's board meeting scheduled for today to consider a fund raising proposal.

Till 10:52 AM, a combined 10.25 million shares had changed hands, while there were pending buy orders for a combined 33.88 million shares on the NSE and BSE. READ MORE

11:28 AM

Stock Market LIVE Updates: PSP Projects shares zoom over 3% after order worth Rs 554.92 cr

The company in an exchange filing said that it has recieved work orders worth Rs 554.92 crores.

Source: BSE

11:22 AM

Stock Market LIVE Updates: Slowdown in business activity pulls flash PMI to its lowest levels in 2024

A slowdown in business activity of both the manufacturing and services sector pulled down the expansion of India’s private sector economy in September, according to a survey by HSBC on Monday.

According to the survey carried out by the global banker, the headline flash composite Purchasing Managers’ Index (PMI) figure declined to 59.3 in September, lowest in 2024, from an upward revised figure of 60.7 in August. Read more

11:16 AM

Stock Market LIVE Updates: HFCL up 6%, at 52-wk high on deal to supply drone parts to General Atomics

Share of technology company HFCL soared as much as 5.71 per cent to hit a fresh 52-week high of Rs 171 per share on Monday, September 23, 2024. 

The shares of HFCL rose after the company announced that it has been selected by General Atomics Aeronautical Systems Incorporated (GA-ASI), to develop and supply critical sub-systems for the US-based defence technology firm's advanced unmanned aircraft systems. Read more

11:03 AM

Stock Market LIVE Updates: 11 AM market update

Stock Market LIVE Updates: Indian equiuty 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 11:00 AM, the BSE Sensex was up 207 points, or 0.25 per cent, at 84,752, while the Nifty 50 was at 25,887, up 96 points, or 0.38 per cent.

 

10:49 AM

Stock Market LIVE Updates: Unichem Lab zoomed 3% after announcing consolidation of US generics formulations

The Board of Directors of the company will consider, inter-alia, integration and consolidation of the generics formulations business in the US market of M/s. Bayshore Pharmaceuticals LLC (wholly owned subsidiary of Company’s holding company, Ipca Laboratories Limited) into Unichem Pharmaceuticals (USA) Inc. (company’s wholly owned subsidiary) so as to consolidate all the Ipca Group’s USA generics formulations business under one entity. 

Source: BSE

10:47 AM

Stock Market LIVE Updates: Fusion Finance tanks 10%, hits record low on higher ECL provisioning in Q2

Shares of financial service provider Fusion Finance hit a record low of Rs 274.40 per share, as they tanked 10 per cent on the BSE in Monday’s intra-day trade in otherwise a strong market. 

The fall in the Fusion Finance share price came after the company said it may be required to make an estimated credit loss (ECL) provisioning between Rs 500 crore to Rs 550 crore in July to September quarter (Q2FY25) as compared to Rs 348 crore provision in Q1FY25. Read more

10:31 AM

Stock Market LIVE Updates: Inox Wind secures Rs 2,200 cr financing deal with ICICI Bank-led consortium

Wind energy solutions provider Inox Wind on Monday said it has signed an agreement with a consortium led by ICICI Bank to tie up Rs 2,200 crore finance facility.

This limit is likely to be enhanced further to Rs 2,400 crore as per the working capital assessment done by the lead bank (ICICI Bank), Inox Wind Limited (IWL) said in a statement. Read more

10:16 AM

Stock Market LIVE Updates: KEC International surges 3% after bagging orders worth Rs 1,003 cr

Shares of KEC International soared as much as 3.12 per cent on BSE at Rs 972.15 per share on Monday’s intraday trade. This came after the company bagged new work orders worth Rs 1,003 crore. 

Infrastructure EPC major, and an arm of RPG Group in an exchange filing on Sunday said that the orders span across segments of railways, civil and cables. Read more

10:03 AM

Stock Market LIVE Updates: 10 AM market update - Markets at record levels

Stock Market LIVE Updates: Indian equiuty 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 10:00 AM, the BSE Sensex was up 270 points, or 0.32 per cent, at 84,815, while the Nifty 50 was at 25,906, pu 115 points, or 0.45 per cent.

 

9:54 AM

Stock Market LIVE Updates: HFCL climbs over 4% as co bags deal from General Atomics to supply UAV subsystems

Stock Market LIVE Updates: The company has been selected by General Atomics to develop critical subsystems for unmanned aircraft systems, marking a significant milestone in its defense technology capabilities. 

 

9:50 AM

Stock Market LIVE Updates: Punjab and Sind Bank gains on plans to raise Rs 3,000 crore

Stock Market LIVE Updates: The bank plans to raise up to Rs 3,000 crore through infrastructure bonds, capitalising on favorable bond yields.

With significant prior fundraising activities among public sector banks, this initiative reflects the bank’s strategy to strengthen its capital base.