Market Highlights, Aug 22: Sensex up 148 pts, ends atop 81k; Nifty holds 24,800; banks, FMCG gain

Stock Market Highlights, Thursday, Aug 22, 2024: 18 stocks ended higher on the Sensex led by Bharti Airtel, Tata Steel, ICICI Bank, and Titan Company

1:29 PM

Wonder Electricals share price climb 7% after announcing 1:10 stock split

Shares of fan manufacturing solutions provider Wonder Electricals surged more than 7.5 per cent to hit an intra-day high of Rs 1605.20 on Thursday, as the company announced a stock split of its shares in the ratio of 1:10. 

 

The company, in an exchange filing, stated that its board of directors met today to approve the subdivision or split of every one fully paid-up equity share of face value of Rs 10, into 10 fully paid-up equity shares of face value of Rs 1 each, subject to the approval of shareholders at its ensuing Annual General Meeting. Read more

1:13 PM

Filing: Nucleus Software Exports approves buyback price of Rs 1,615 per share

The company proposed to buy-back up to 4,48,018 equity shares of face value of Rs.10/- each, comprising of 1.67 per cent of the total paid-up equity capital of the company, from the equity shareholders of the company as on the record date, at a price of Rs. 1,615 per share, for an aggregate amount not exceeding Rs. 72.35 crore approximately. 

12:51 PM

Dabur to set up 1st plant in South India, to invest Rs 400 cr in TN: Rajaa

The Tamil Nadu government on Thursday said home and personal care products maker Dabur India will set up a Rs 400 crore manufacturing plant in the state's Villupuram district, marking the FMCG company's maiden foray into the South. State Industries Minister TRB Rajaa said a pact was inked on Thursday for this purpose. Read more

 

12:38 PM

Nifty PSE off its all-time high; what's worrying the investors?

Public sector companies' stock which were once the darlings of the Indian markets are now on a downward trajectory. The Nifty PSE index which tracks the performance of Indian public sector enterprises on the NSE has fallen off its all-time high and has lost over 3.8 per cent as compared to the Nifty 50's decline of 1.5 per cent. Read more

12:26 PM

Asset shortages hinder MSMEs access to formal bank financing: RBI DG

Micro, Small, and Medium Enterprises (MSMEs) often lack sufficient assets to offer as collateral, especially for working capital needs, which frequently excludes smaller businesses from accessing funding from the formal banking sector, said Swaminathan J, deputy governor of the Reserve Bank of India, on Monday. The speech was uploaded on the RBI website on Thursday. Read more

12:07 PM

Mid-market check: Sensex up 200 pts

The benchmark Sensex was trading in green at around 12:05 PM, surging 225 pts to 81,130 levels.  Bharti Airtel, Ultratech Cement and Titan were among the top gainers on the BSE Sensex.

11:59 AM

Paytm up 5% on sale of entertainment biz; stock zooms 95% from 52-week low

Shares of One 97 Communications (OCL), which runs the Paytm payments platform, hit a more than six-month high of Rs 604.45, up 5 per cent on the BSE in Thursday’s intra-day trade.  The rally in the company's stocks came after it announced on Wednesday that it will sell its entertainment ticketing business to food delivery platform Zomato for a consideration of Rs 2,048 crore. READ MORE

 

11:46 AM

Kalyan Jewellers shares rally 8% as promoter inks pact to increase stake

Kalyan Jewellers stock surged up to 7.61 per cent at Rs 589.90 a piece on the BSE in Thursday’s intraday deals, after the company’s promoter TS Kalyanaraman plans to  increase his stake in the company.  On Wednesday, the company said that a special purchase agreement (SPA) has been signed between Kalyanaraman and Highdell Investment, in which the promoter seeks to increase his equity holding by 2.36 per cent, purchasing shares from Highdell Investment at Rs 535 each, aggregating to Rs 1,300 crore.  READ MORE

 

11:31 AM

After monsoon lull, price pressure, are cement stocks worth buying?

The Indian cement industry is hopeful of greener pastures after a long period of stress led by pricing pressures and other factors. The second half of the financial year 2024-25 (FY25) is expected to bring respite due to price hikes, cost benefits and higher volumes, said analysts.  The optimistic momentum also makes cement stocks attractive, analysts added, advising to buy dips following a period of bearish sentiment in these stocks. READ MORE

11:18 AM

BEML stock price rallies 4% on inking multiple deals; up 27% in 6 months

Shares of BEML soared as much as 3.63 per cent to hit an intraday high of Rs 3986.30 per share.  The rise in the BEML stock came after the company announced that it has inked multiple deals. In an exchange filing, the company said that it has forged a strategic pact with the Indian Navy to develop advanced Marine applications for Defence. READ MORE

 

11:08 AM

Aarti Drugs surges 13% as board mulls share buyback on August 26

Shares of Aarti Drugs surged 13 per cent on the BSE in Thursday’s intra-day trade after the company said the board will consider share buyback proposal on Monday, August 26, 2024.  READ MORE

10:59 AM

Colgate stock on a 9-week winning run, up 28%; Can it shine more?

Shares of Colgate-Palmolive have witnessed a stupendous rally since late June 2024. The stock at present is on a 9-week winning streak, and has zoomed 28 per cent during this period from levels of Rs 2,826 on June 21 to a high of Rs 3,615 in trades today. In the same period, the benchmark, NSE Nifty 50 index has gained 5.5 per cent. READ MORE

10:45 AM

Orient Tech IPO fully booked on Day 1; GMP up 34% today; should you bid?

The initial public offering (IPO) of Orient Technologies, which opened for public subscription yesterday, has received a positive response from investors, getting oversubscribed by 6.64 times at the end of the first day of subscription on August 21, 2024.  READ MORE

10:30 AM

Paras Defence hits upper limit on bagging licence to make defence products

Shares of Paras Defence gained as much as 4.99 per cent to hit the upper circuit of 1,293.30 per share on Thursday, August 22, 2024. The uptick in the Paras Defence stock price came after the Department for Promotion of Industry & Internal Trade, Ministry of Commerce & Industry granted industrial licence to the company for establishing an industrial undertaking for manufacturing defence products. READ MORE

10:27 AM

Stock Market LIVE Updates: Transformers and Rectifiers (India) bags two export orders worth $16.80 million

Stock Market LIVE Updates: Transformers and Rectifiers (India) today announced that it has received two supply orders worth $14 million and $2.80 million, from Sweden-based Linxon Global Sweden, and Arcelor Mittal Mexico respectively. The Linxon order encompasses supply of 18, 20MVA trackside traction transformers and  55, 7.5MVA, Trackside auto transformers. Meanwhile, the Arcelor Mittal Mexico order is for the supply of 175MVA, 66KV electrical arc furnace transformer, according to the company's stock filing.