Sensex rebounds 507 pts from lows, ends 138 pts up; auto, IT stocks gain

Closing Bell on August 16, 2023: The shares of SBFC Finance, which debuted on Wednesday at a premium of 44 per cent, settled at Rs 92.2 per share, up nearly 62 per cent over issue price

SI Reporter New Delhi

Sensex rebounds 507 pts from lows, ends 138 pts up; auto, IT stocks gain

9:45 AM

IdeaForge Tech bags order worth Rs 88 crore; stock zooms 3%

The firm sealed a deal worth Rs 88 crore to provide surveillance quadcopters and essential accessories to one of the forces under the Ministry of Defence.

9:43 AM

Vodafone Idea Q1 net loss widen to Rs 7,837 crore

The telecom company’s Q1 net loss widened to Rs 7,837 crore for the June quarter as against a net loss of Rs 7293.3 crore. Total income, however, was up 1.9 per cent YoY at Rs 10,610.4 crore.

9:41 AM

Reliance Jio executes Letter of Guarantee in favour of Samsung

>> Guarantee issued for Reliance Jio Infocomm Limited (RJIL), a subsidiary of the company - Letter of Guarantee executed by the company in favour of Samsung India Electronics Private Limited (SIEPL) in consideration of SIEPL extending credit for supply of LTE equipment or part thereof to RJIL. The maximum liability of the company under the guarantee is Rs 7,706 crore.

>> Separately, Parent Company Guarantee (PCG) issued for Reliance International Limited (RINL), a wholly owned subsidiary of the Company - PCG executed by the company in favour of Saudi Arabian Oil Company (Saudi Aramco) in consideration of Saudi Aramco extending credit for crude oil supplied by it to RINL (RINL in turn supplies the same crude oil to the Company). The maximum liability of thec company under the PCG is US$ 750 million. The PCG is valid till February 29,

2024.

9:37 AM

M&M's arm launches Mahindra OJA tractor range; stock flat

The company’s tractor division, Mahindra Tractors on Tuesday launched the Mahindra OJA tractor range. This new tractors were priced at Rs 5.64 lakh for OJA 2127 and Rs 7.35 lakh for OJA 3140 in Pune.

9:35 AM

Infosys signs multi-year deal with Liberty Global; stock up 1%

The IT major has signed a multi-year deal with Liberty Global, a London-based converged video, broadband and communications firm. As part of the expanded collaboration agreement, Infosys will provide services to Liberty Global estimated at $1.64 billion over the initial 5-year term and at $2.5 billion if the contract is extended to eight years.

9:32 AM

Buzzing stock :: ITC shares rise 1.5% in a weak market post Q1 show

>> The company reported a 16.29 per cent YoY rise in Q1 consolidated net profit for the quarter ended June 2023 at Rs 5,104. 93 crore when compared with Rs 4,389.76 crore in the corresponding quarter a year ago. Consolidated revenue from operations, however, declined 6 per cent to Rs 18,639.48 crore.

9:31 AM

Large Tarde :: IndiGo falls 4% after nearly 5% equity changes hands

>> Co--founder's Rakesh Gangwal and wife Shobha Gangwal were likely to sell up to 4 per cent stake in the company worth Rs 3,730 crore in block deals on Wednesday.