Stock Market Highlights, Sept 16: Sensex, Nifty end flat; Bajaj Housing Finance soars 136% on debut

Stock Market Highlights: 26 constituent stocks of Nifty50 ended higher with the gains led by NTPC, Hindalco, JSW Steel, Shriram Finance, and Larsen & Toubro on Monday

11:02 AM

Stock Market LIVE Updates: 11 AM market update

Stock Market LIVE Updates: Indian equity benchmark indices, BSE Sensex and Nifty 50, were trading higher, after hitting fresh all-time highs on Monday, post opening bell.

At 11 AM, the BSE Sensex was up 91 points, or 0.11 per cent, at 82,982, while the Nifty 50 was at 25,398, up 32 points, or 0.13 per cent.

11:00 AM

Stock Market LIVE Updates: Veranda Learning board approves appointment of Aditya Malis as Group COO

Stock Market LIVE Updates: Veranda Learning Solutions today announced that its board of directors has approved the appointment of Aditya Malik as the Group Chief Operating Officer of the company, effective from September 16.

The company, in an exchange filing, said, "The Board of Directors of the Company by way of circular resolution on September 16, 2024 has approved the appointment of Mr. Aditya Malik, as the Group Chief Operating Officer of the Company, Senior Management Personnel of the Company with effect from September 16, 2024".

10:55 AM

Stock Market LIVE Updates: Dwarikesh Sugar, Shree Renuka: Why sugar stocks are buzzing in trade today

Stock Market LIVE Updates: Sugar stocks were buzzing in trade on Monday, September 16, 2024, with some companies seeing gains of up to 4 per cent during intraday trading. 
 

Key players in the sector, including Shree Renuka Sugars, Dhampur Sugars, and Balrampur Chini Mills, were among the top gainers. READ MORE

 

10:43 AM

Stock Market LIVE Updates: Proximus Opal sells 6.03% stake in Route Mobile to comply with shareholding norms

Stock Market LIVE Updates: Route Mobile announced today that its promoter entity, Proximus Opal S.A., has successfully divested a 6.03 per cent stake in the company through an Offer for Sale (OFS) on Sep 12 and 13, 2024, in addition to the 1.95 per cent sell down that was completed on 26 July 2024, to comply with the minimum public holding requirement of 25 per cent. 

The company, in an exchange filing, said the OFS was oversubscribed and received strong participation from long-only marquee investors.

With this development, Proximus Opal, part of the Proximus Group, has reduced its holding in Route Mobile from 83.11 per cent to below 75 per cent and is compliant with the minimum public shareholding criteria, in accordance Sebi's norms.

 

10:29 AM

Stock Market LIVE Updates: Infosys ties up with LIC of India to accelerate digital transformation

Stock Market LIVE Updates: Infosys today announced its collaboration with the Life Insurance Corporation of India, to spearhead its digital transformation initiative called DIVE (Digital Innovation and Value Enhancement). 

As a part of the collaboration, Infosys will enable the creation of a cutting-edge NextGen Digital Platform, which will focus on delivering seamless omnichannel engagement and data-driven hyper-personalised experiences to LIC’s customers, agents and employees, the company said in an exchange filing.

10:15 AM

Stock Market LIVE Updates: Wockhardt wins govt's BIRAX Innovator award for developing drug to treat pneumonia

Stock Market LIVE Updates: Wockhardt today announced that it has been conferred with the Biotechnology Industry Research Assistance Council's (BIRAC), 'BIRAC Innovator Award 2024'. 

The award was received by the inventor, Dr. Mahesh Patel (Chief Scientific Officer - Drug Discovery Research) during 'Global Bio – India 2024' event held in New Delhi.

The award has been conferred in recognition of the company's successful development of Nafithromycin (MiqnafTM), which is the first ever multi-drug resistant pathogen active respiratory antibiotic for the treatment of Community-Acquired Bacterial Pneumonia.

 

10:10 AM

Stock Market LIVE Updates: Bajaj Housing lists at 115% premium

Stock Market LIVE Updates: Bajaj Housing Finance listed at a premium of 115%, at Rs 150, from the issue price of Rs 70.

The stock also hit a high of Rs 160, after listing on the BSE.

10:02 AM

Stock Market LIVE Updates: 10 AM market update

Stock Market LIVE Updates: Indian equity benchmark indices, BSE Sensex and Nifty 50, were trading higher, after opening in the green on Monday.

At 10 AM, the BSE Sensex was up 208 points, or 0.25 per cent, at 83,099, while the Nifty 50 was at 25,418, up 61 points, or 0.24 per cent.

9:59 AM

Stock Market LIVE Updates: Samvardhana arm ties up with Hamakyorex to setup another JV

Stock Market LIVE Updates: Samvardhana Motherson International today announced that its Netherlands-based wholly-owned subsidiary SMRC Automotive Holdings Netherlands B.V. (SAHN B.V.) has approved to execute a Joint Venture agreement with Japan-based Hamakyorex Co. Ltd. 
 

Samvardhana, which already has an ongoing partnership with the Japan-based company, has decided to setup another JV to conduct comprehensive logistics operations and provide a range of related services, including third-party logistics (3PL), warehousing, packaging, and import/export (EXIM) solutions, to various industries in Japan or other locations as mutually agreed between the parties, the company said in an exchange filing.

9:52 AM

Stock Market LIVE Updates: Sugar stocks up as govt allows production of rectified spirit and alcohol

Stock Market LIVE Updates: Stocks of sugar companies, such as Dhampur Sugar Mills, Balrampur Chini, EID Parry (India) and Bannari Amman Sugars, among others gained around 2 per cent each.

The rally came after the government allowed sugar mills and distilleries to produce rectified spirit and extra-neutral alcohol from sugarcane juice and B-heavy molasses. 

9:45 AM

Stock Market LIVE Updates: HUL sheds over 2% as co appeals Rs 962-crore tax order in Bombay High Court

Stock Market LIVE Updates: Hindustan Unilever has filed an appeal with the Bombay High Court, contesting a Rs 962 crore tax order from the Income Tax authorities issued to it regarding a dispute related to Tax Deducted at Source (TDS) on the company’s acquisition of GlaxoSmithKline’s consumer healthcare business.

 

9:43 AM

Stock Market LIVE Updates: SOM Distilleries climbs over 4% as co launches twist-cap beer brand in Karnataka

Stock Market LIVE Updates: SOM Distilleries and Breweries has launched 'Woodpecker,' India’s first twist cap beer, in Karnataka.

The product line includes two variants: Woodpecker Glide and Woodpecker Crest.

This could contribute significantly to SOM Distilleries’ sales goal of Rs 1,600 crore by FY25.

 

9:41 AM

Stock Market LIVE Updates: SpiceJet climbs over 3% as shareholders approve Rs 3,000-crore fundraise

Stock Market LIVE Updates: The airline has received approval to raise up to Rs 3,000 crore through the issuance of securities.

In another news, Sebi also exempted promoter group entity, Spice Healthcare from making an open offer to SpiceJet shareholders to acquire additional shares in the airline.

On conversion of warrants that were issued to it, Spice Healthcare would acquire an additional 13,14,08,514 equity shares in the airline.

9:39 AM

Stock Market LIVE Updates: Nifty 50 Gainers and Losers

Stock Market LIVE Updates: 37 of the 50 stocks on the Nifty 50 were trading ahead, while 12 were down and one was unchanged. Losses were led by HUL, Britannia Industries, HeroMotoCorp, SBI Life, and Nestle India. Meanwhile, gains were led by Adani Enterprises, NTPC, Bajaj Finserv, Hindalco, and Grasim Industries. 

9:36 AM

Stock Market LIVE Updates: MTNL sheds over 3% as government assures it will pay interest on co's bonds

Stock Market LIVE Updates: The government will cover MTNL's upcoming interest payment on bonds due to insufficient funds with the company. This marks the second consecutive instance of government intervention for MTNL’s bond payments.