Stock Market Highlights, Sept 5: Sensex sheds 151pts, Nifty ends below 25,150; Smallcap stocks shine

Stock Market LIVE Highlights: The day ended in favor of bears as many as 33 out of 50 constituent stocks of Nifty50 ended lower, dragged by RIL, Cipla, and Dr Reddy's Labs

8:42 AM

Stock Market LIVE Updates: Germany's Infineon eyes entry into India's power semiconductor space

Stock Market LIVE Updates: German semiconductor giant Infineon is exploring entry into the power semiconductor space in the country.

It is looking to make wafers and silicon carbide chips that are used in the electric vehicle (EV), industrial and telecom spaces. READ MORE

 

8:41 AM

Stock Market LIVE Updates: State-owned Canara Bank mobilises $300 mn through IFSC banking unit

Stock Market LIVE Updates: State-owned Canara Bank on Wednesday said it has mobilised $ 300 million via the IFSC Banking Unit.

The net proceeds from the issue of the notes will be applied by the Issuer's IFSC Banking Unit at Gandhinagar towards the general corporate purposes, Canara Bank said in a regulatory filing. READ MORE

8:40 AM

Stock Market LIVE Updates: Capital Group's arm sells 5% stake in IT firm Mastek for Rs 475 crore

Stock Market LIVE Updates: Financial services company Capital Group on Wednesday sold a 5.6 per cent stake in Mastek for over Rs 475 crore through open market transactions while ICICI Prudential Mutual Fund picked up a stake in the IT services company.

Los Angeles-headquartered Capital Group through its affiliate EuroPacific Growth Fund offloaded 17,19,117 shares, amounting to a 5.6 per cent stake in Mastek Ltd, as per the bulk deal data available on the BSE. READ MORE

 

8:38 AM

Stock Market LIVE Updates: India should aim at developing 10 fabs in 10 years: Semi's Manocha

Stock Market LIVE Updates: The Indian semiconductor industry should aim at developing at least 10 fabs in the coming decade to become a global powerhouse in this sector, said Ajit Manocha, president and CEO, Semi -- the global semiconductor and electronics body. READ MORE

8:36 AM

Stock Market LIVE Updates: Growth in new business thrusts services PMI to 5-month high in Aug

Stock Market LIVE Updates: Growth in India’s dominant services sector rose to a five-month high in August as new businesses expanded amid easing inflationary pressure, said a private survey on Wednesday.

 

The HSBC headline Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 60.9 in August from 60.3 in July. The index was above the neutral 50-mark that separates contraction from expansion for the 37th month straight. READ MORE

8:35 AM

Stock Market LIVE Updates: RBI board reviews global, domestic economy, associated challenges

Stock Market LIVE Updates: The central board of the Reserve Bank of India on Wednesday reviewed the global and domestic economic scenario and outlook, including associated challenges.

The 610th meeting of the Central Board of Directors of the Reserve Bank of India was held here under the chairmanship of Governor Shaktikanta Das, it said in a statement. READ MORE

 

8:34 AM

Stock Market LIVE Updates: World Bank's suggestion to join RCEP based on flawed projections: GTRI

Stock Market LIVE Updates: Think tank GTRI on Wednesday said that the World Bank's suggestion for India to reconsider joining RCEP (Regional Comprehensive Economic Partnership) is based on flawed assumptions and outdated projections.
 

For developing countries like India, policy decisions must be rooted in real-world data and a thorough understanding of the long-term implications, it said. READ MORE

 

8:27 AM

Stock Market LIVE Updates: Adani Enterprises' first Indian retail bond fully subscribed at launch

Adani Enterprises' first retail bond was fully subscribed at its launch on Wednesday, local Indian stock exchange data showed, in a rare issue on the market.

 

While the Indian group has raised money from institutional investors since US short-seller Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation in January 2023, the new bond is the first test of retail demand.

 

The allegations, which Adani has repeatedly denied, sparked a $150 billion meltdown in shares of companies in the group.

 

Group share prices have recovered since much of the losses, prompting Adani to return to the capital markets. Adani Enterprises did not respond to requests for comment. Read more

8:15 AM

Share market today: Mixed global cues, falling crude & RLL listing in focus

Share market today: Indian shares are likely to open in the positive territory, as indicated by GIFT Nifty index. At 7:51 AM, GIFT Nifty futures were up 106.5 points at 25,356.5.

Investors in the US will eye multiple data releases today that include challenger job cuts and ADP Employment change for August, among others. They will also focus on the release of the US payroll report on Friday (September 6), as it could decide whether a rate cut expected this month will be big or small. Read more

8:07 AM

Stock Market LIVE Updates: Prestige Estates raises Rs 5,000 crore by selling equity shares via QIP

Realty firm Prestige Estates Projects Ltd has raised Rs 5,000 crore by selling equity shares to institutional investors through private placement. The company had on August 29 launched its Qualified Institutional Placement (QIP) to raise funds.

 

In a regulatory filing on Wednesday, Prestige Estates informed that a fundraising committee of the board approved the allocation of 2,98,68,578 equity shares at an issue price of Rs 1,674 apiece to eligible institutional investors.
 

The issue price was at a discount of 4.62 per cent on the floor price of Rs 1,755.09 per share fixed by the panel. Read more

8:01 AM

Stock Market LIVE Updates: RailTel Corp gets work order of Rs 10.92 cr from Northern Railways

The company in an exchange filing said that it has received the work order from Northern Railways for Railway Telecom Project amounting to Rs 10,92,47,304.

Source: BSE

7:51 AM

Stock Market LIVE Updates: Gold falls Rs 10, silver down Rs 100, yellow metal trading at Rs 72,750/10g

The price of 24-carat gold dipped Rs 10 in early trade on Thursday, with ten grams of the precious metal trading at Rs 72,750 according to the GoodReturns website. The price of silver declined Rs 100, with one kilogram of the precious metal selling at Rs 84,900.

The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 66,680.

 

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 72,750. Read more

7:50 AM

Stock Market LIVE Updates: Weak auto sales, rising costs may hit ancillary cos in near-term

With wholesale passenger vehicle (PV) sales declining for a second consecutive month in August, analysts forecast a bumpy near-term outlook for ancillary companies.

Saji John, senior research analyst at Geojit Financial Services, for instance, believes that weak domestic demand in some segments, coupled with supply chain issues, may keep auto ancillary stocks sideways in the immediate term."The near-term market sentiment is cautious for the sector due to high valuations. Companies with a high PV and commercial vehicle (CV) mix eye near-term challenges," he said. Read more
 

7:48 AM

Stocks to Watch: RIL, GIC Re, Suzlon Energy, HDFC Bank, Mastek, Adani Ent

Reliance Industries:The company has secured the full 10 GWh capacity of the Advanced Chemistry Cell (ACC) under the second phase of the Production Linked Incentive (PLI) scheme. RIL is constructing a 30 GWh battery manufacturing facility in Jamnagar, with production expected to start in the latter half of 2025. Additionally, Reliance's board will meet on September 5 to discuss a 1:1 bonus share issue.

 

Adani Enterprises:The company's first retail bond issue, , aiming to raise up to Rs 800 crore, has been fully subscribed. The company has also set up a subsidiary in Kenya to pursue a potential acquisition of Nairobi's Jomo Kenyatta International Airport, with an estimated investment of up to $810 million.

 

General Insurance Corporation of India:The first day of GIC Re’s offer for sale (OFS) saw bids worth nearly Rs 2,300 crore. The OFS, which aims to divest up to 6.78 per cent of the government’s stake, has received bids for 58 million shares. The final divestment may be less than 3.4 per cent, with further divestments required to meet the 25 per cent public shareholding mandate. Read more

7:46 AM

Stock Market LIVE Updates: Biocon, PFC, Chambal Fert; top picks by Ajit Mishra of Religare Broking

Biocon Limited | LTP: Rs379.40| Buy |Target: 400 | Stop-loss: Rs 368

The pharma sector is showing notable resilience, with BIOCON taking the lead. The stock has broken out from a bullish rectangle pattern, accompanied by a strong surge in volumes. This chart pattern, along with the increased trading activity, suggests that the stock is poised to attract fresh upward momentum. Read more