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

8:00 AM

Stocks to Watch today, Aug 16: IndiGo, ITC, SBFC, Infy, Voda Idea, M&M, Zee

IndiGo: Co--founder's Rakesh Gangwal and wife Shobha Gangwal are likely to sell up to 4 per cent stake in the company worth Rs 3,730 crore in block deals on Wednesday. As per the term sheet, the offer floor price is set at Rs 2,400 per share. READ MORE

Infosys: 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.

HCL Technologies: The company said it won a new deal to improve and support Cricket Australia’s digital platform with automation and artificial intelligence (AI). The firm will implement automation, analytics, and develop tools to ensure that the Cricket Australia Live and PlayCricket apps maintain their popularity among fans. Financial details of the deal were not disclosed. READ

Markets, Stock market, sensex, stock market indices

7:56 AM

Gift Nifty signals gap-down start for D-Street

7:52 AM

JPMorgan, other top banks likely to face ratings cut, says Fitch Ratings

An analyst at Fitch Ratings warned that US banks, including JPMorgan Chase, could be downgraded if the agency further cuts its assessment of the operating environment for the industry, according to a report from CNBC on Tuesday. READ