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Stock In focus after winning two new orders worth ₹10.53 Cr in Bangalore and Pune
This microcap stock which is a leading provider of integrated electrical and firefighting services, in focus today after it announced winning new work orders totalling Rs. 10.53 Crore from an MNC realty client. Price Action With a market capitalization of Rs. 110.44 cr, the shares of Rulka Electricals Ltd. were trading at Rs. 260.90 per [...]
Navaratna Stock in focus after company to work as consultant for project worth ₹3,500 Cr
This Navartana PSU stock which deals in operates in segments like Project Management Consultancy, Engineering Procurement & Construction, and Real Estate was in focus after the company to work as a consultant for a project worth Rs. 3,500 crores. Price Action With a market capitalization of Rs. 21,721.50 Crores, the shares of NBCC (India) Limited [...]
Will Indian Govt pump large sum of capex on Infra and Railways as GDP slows down?
Slowing GDP growth poses significant challenges for any economy, particularly emerging ones, as it undermines long-term economic stability and development. A sluggish GDP impacts job creation, leading to rising unemployment and reduced consumer spending, which further weakens economic demand. Governments face lower tax revenues, restricting their ability to invest in critical infrastructure, healthcare, and education. [...]
Stock jumps 4% after receiving order worth ₹221 Cr from Tata group for Semiconductor & Li-ion Battery facility
This Smallcap stock engaged in the business of providing turnkey pre-engineered steel construction solutions surged 4 percent in early trade after the company received an order worth Rs. 221 crores from Tata Projects for a Semiconductor & Li-ion Battery facility. Price Action With a market capitalization of Rs. 2,571.53 Crores, the shares of Interarch Building [...]
Will Crude Oil Cross $100 after US sanctions Russian Oil Companies?
Russia stands among the top three producers in the global crude oil market, holding vast reserves and a robust energy infrastructure. Its contributions to global oil supply are critical for major economies like China, India, and Europe. By consistently providing a significant share of the world's crude, Russia maintains a pivotal role in stabilizing international [...]
Ashish Kacholia stock down 13% after announcing 37% decline in net profits YoY
This Ace Investor Ashish Kacholia stock which deals in the business of carbon black, specialty chemicals and power generation was down by 13 percent on Monday which is due to quarterly result announcements with net profit down by 37 percent year on year. Share Price Movement In Monday’s trading session, PCBL Ltd's share price was [...]
Mukesh Ambani Stock Crashes 8% After Disappointing Q3 Results; Net Profits Fall 15% QoQ
The digital ecosystem in India has transformed the way businesses operate, giving rise to innovative platforms like Swiggy, Zomato, Policybazaar, and Justdial. These digital-first companies have revolutionized their respective sectors—food delivery, insurance comparison, and local business searches—by leveraging technology to offer convenience, transparency, and efficiency. With a rapidly growing internet user base, increased smartphone penetration, [...]
Nuclear Energy stock jumps 4% upon developing critical seals for Defence Applications
Nuclear energy stock engaged in designing and manufacturing high-precision & heavy-duty mechanical seals widely employed in various nuclear & thermal projects jumped up to 4 per cent in the day’s trade upon successfully developing critical mechanical seals for Defence Applications. Price Action With a market capitalization of Rs. 476 Crores, the shares of Sealmatic India [...]
Semiconductor stock to Buy now for an upside of more than 40%; Do you hold it?
Semiconductor stock which is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in focus after Motilal Oswal Financial Services initiated a Buy call on it with a 42 per cent upside potential. Price Action With a market capitalization of Rs. 41,170 Crores, the shares of Kaynes Technology India Limited were trading at Rs. 6,432 [...]
Smallcap stocks with strong order book of more than ₹1000 Cr to keep on your radar
Identifying hidden gem small-cap stocks with a robust book value exceeding Rs. 1000 crores can be a lucrative strategy for investors seeking growth opportunities. Small-cap stocks, typically characterized by their market capitalization ranging from Rs. 500 crores to Rs. 5,000 crores, often exhibit significant potential for appreciation. These companies, while less covered by analysts and [...]
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It's best time to invest in India: PM Modi at WEF's online Davos Agenda 2022 summit. PTI BJ KR MR MR
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India followed vision of 'One Earth, One Health' and provided medicines, vaccines to several countries during COVID-19: Modi at WEF event. PTI BJ KR MR MR
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India was once known for licence raj; Today, we're encouraging ease of doing business, reducing govt involvement in businesses: PM Modi. PTI BJ KR MR MR
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Stocks to Buy: 6 Stocks to buy for an upside of 40%
The Indian Benchmark Indices closed in Green on Friday with the Sensex gaining around 218.14 points ending the week at 81,224.75 and the Nifty 50 index gaining around 113.55 points ending the week at 24,863.40. In the last five trading sessions, the Sensex declined by approximately 0.75 percent while the Nifty 50 index declined by [...]
₹2.23 to ₹1,829: NBFC stock turns ₹10,000 to ₹82 Lakhs in just 5 years
During the trading session of Friday, the shares of a registered NBFC with core business operations focused on investing and lending slumped nearly 5 percent to hit an intraday low at Rs. 1,758.1 on BSE. With a market capitalisation of Rs. 31,068 crores, the shares of Authum Investment & Infrastructure Limited opened at Rs. 1,849, [...]
Stocks to Buy: 6 Stocks to buy now for an upside of 50%
The Indian Benchmark Indices closed in red on Friday with the Sensex losing around 230.05 points ending the week at 81,381.36 and the Nifty 50 index losing around 34.20 points ending the week at 24,964.25. In the last five trading sessions, the Sensex declined by approximately 0.73 percent while the Nifty 50 index declined by [...]
₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years
According to business standards, the Indian pharmaceutical industry is a global powerhouse, projected to reach $130 billion by 2030, growing at over 10% annually. Currently valued at $50 billion, India supplies 20% of the world's generic medicines and accounts for 60% of global vaccine production, cementing its role as the "pharmacy of the world. With [...]
Stocks that may get affected by Israel-Iran war
India is Israel’s 2nd trading partner in Asia and the 9th largest globally. The bilateral trade has been majorly dominated by diamonds and chemicals. However, recent years have seen an increase in trade in areas such as electronic machinery and high-tech products; medical equipment; communications systems, etc. The two nations celebrated 30 years of the [...]
5 Stocks that supply defence equipments to Israel to keep an eye on
The geopolitical tensions involving Israel, Iran, and Gaza are characterized by Iran's animosity toward Israel and its support for militant groups like Hamas and Hezbollah, which engage in hostilities against Israel. This led to airstrikes, military & political outrage, loss of life, and more leading to fear of global war among other nations. Listed below [...]
Latest Market News
Small cap textile stock bags order worth USD 2.72 million; Do you own it?
Axita Cotton Ltd, through a recent exchange filing, announced that the Company has received a contract/award from Taraspinning Mills Limited and Khadiza Sadek Spinning Mills Limited which are based in Bangladesh for Indian Raw Cotton with the order value aggregating to USD 2,716,091.84 approximately. The timeframe within which the company has to execute the order [...]
Shashikant Jagannath Wani appointed as independent director of SJVN
State-owned power producer SJVN Ltd on Tuesday said the power ministry has appointed Shashikant Jagannath Wani as an independent director of the company for three years. His appointment is effective from Monday. "Ministry of Power ...has appointed Shashikant Jagannath Wani as Non-Official Part-Time Director (Independent Director) on the board of directors of the company with [...]
Tablesh Pandey appointed LIC MD
Life Insurance Corporation (LIC) on Tuesday said it has elevated Tablesh Pandey, executive director of the company, as its managing director. His appointment is effective from April 1, 2023, according to a regulatory filing. Pandey will replace present managing director B C Patnaik, it said. LIC presently has four managing directors. Pursuant to a government [...]
Fragrance and flavour industry to touch over USD 5bn in 3-4 years: Industry body
The fragrance and flavour industry of the country is likely to grow around 12 per cent each year and touch over USD 5.2 billion in three to four years , an apex body of the industry said. This growth will be driven by factors like rising disposable incomes and changing consumer preferences, Fragrances and Flavours [...]
NBFC stock gets approval to raise Rs 1,100 crores via NCDs
Manappuram Finance, via a recent exchange filing, announced that its board has approved the allotment of non-convertible debentures (NCDs) aggregating to Rs 1,100 crore on private placement basis. The financial resources and management committee of the board of directors approved the allotment of 1.10 lakh rated, listed, secured, redeemable NCDs having a face value of [...]
HPCL in pact to manufacture Chevron’s lubricants
Hindustan Petroleum Corporation Ltd (HPCL) has entered into an agreement to manufacture, distribute and market lubricants of global supermajor Chevron in India, the two companies said on Tuesday. "Chevron Brands International LLC (Chevron), a subsidiary of Chevron Corporation, has entered into a long-term trademark licensing agreement with HPCL. This collaboration encompasses the licensing, production, distribution, [...]
Wholesale inflation eases to 3.85% in February
The wholesale price based inflation eased for the ninth consecutive month to 3.85 per cent in February on easing prices of manufactured items and fuel and power, showed the government data released on Tuesday. The wholesale price index (WPI) based inflation rate was 4.73 per cent in January this year and 13.43 per cent in [...]
Small cap multibagger stock with 881% returns gets huge order; Announces 4:1 bonus issue
Magellanic Cloud Ltd is a small-cap company that provides IT solutions & human capital, E-surveillance, and Drones Manufacturing & allied services. The stock is listed on the Bombay Stock Exchange (BSE), and gained 4.98% on Tuesday’s early trades to reach an intraday high of ₹ 641.45 apiece. The stock has given multibagger returns of 881% [...]
Auto Ancillary stock jumps 6.8% after block deal, Check the details
Blackstone sold its entire 20.5% stake in Sona BLW Precision Forgings for about Rs 4,916 crore via a block deal on Monday through a block deal. As per an ET report, Blackstone offloaded about 11,99,25,641 shares at a price of Rs 410 per unit through its subsidiary Singapore VII Topco III Pte Ltd. After the [...]
Jaguar Land Rover partners with Tata Technologies for digital transformation
Tata Motors-owned Jaguar Land Rover on Tuesday said it is partnering with Tata Technologies to accelerate its digital transformation. As part of the collaboration, Tata Technologies will deliver end-to-end integrated Enterprise Resource Planning (ERP) to transform Jaguar Land Rover's manufacturing, logistics, supply chain, finance and purchasing modules by bringing data and knowledge from multiple departments [...]
Divgi TorqTransfer Systems shares debut with 5% premium
Divgi TorqTransfer Systems stock made its market debut with a 5 per cent premium on Tuesday against the issue price of Rs 590. The stock made its debut at Rs 620, up 5.08 per cent from the issue price on the NSE. On the BSE, it opened at Rs 600, a premium of 1.69 per [...]
Multibagger penny stock with 621% returns; Announces record date for stock split
RO Jewels Limited started its trading session today at Rs 32.60 and since then it was locked in the 5% upper circuit. In a span of just 5 days, the stock has been able to deliver returns to its stakeholders at around 21.5 percent ranging from Rs 26.84 to the current price levels. Having a [...]
Pakistan seeks US help to secure ‘lenient treatment’ from IMF
Cash-strapped Pakistan has decided to seek help from the US to secure “lenient treatment” from the IMF, amid a delay in signing the staff-level agreement with the global lender. Pakistan is awaiting a much-needed USD 1.1 billion tranche of funding from the Washington-based International Monetary Fund (IMF). After failing to convince the global lender, Islamabad [...]
Sitharaman presents Rs 1.18 lakh crore budget for J-K in Lok Sabha
Finance Minister Nirmala Sitharaman on Monday presented in the Lok Sabha a Rs 1.18 lakh crore budget for Jammu and Kashmir for the year 2023-24 with a thrust on providing housing in rural areas and water tap connections to 18.36 lakh households. Union Minister of State for Finance Pankaj Chaudhary tabled the budget for the [...]
Global Surfaces IPO receives 42% subscription on Day 1
The initial share sale of Global Surfaces Ltd got subscribed 42 per cent on the first day of subscription on Monday. The initial public offering (IPO) received bids for 32.75 lakh shares against 77.49 lakh shares on offer, according to NSE data. The portion for Retail Individual Investors (RIIs) got subscribed 60 per cent while [...]
Biden says US banking system is ‘safe’ after Silicon Valley Bank collapse
President Joe Biden on Monday sought to reassure jittery Americans that they can have confidence that the US banking system is "safe" and vowed stricter bank regulation after a string of bank failures raised concerns about the nation's financial stability. The president's early morning comments came after US bank regulators spent the weekend working on [...]
Sensex, Nifty rise in early trade
Equity benchmark indices Sensex and Nifty gained in early trade on Tuesday despite weak global cues. Amid volatile trading, the 30-share BSE Sensex surged 205.55 points or 0.35 per cent to 58,443.40 points while the broader NSE Nifty rose 44 points or 0.26 per cent to 17,198.30 points. In the Sensex pack, 20 stocks were [...]
4 Adani stocks hit 5% upper circuit today; Check the details for more
The Gautam Adani-owned conglomerate issued a statement on Sunday mentioning that it has prepaid a $500 million facility it had taken for Ambuja acquisition financing, adding that the payment came in continuation of promoter’s commitment to repay the leverage. With respect to the same, the group quoted in its release that "This is in line [...]
Sebi provides relaxation to large registrars from complying with enhanced reporting requirements
Markets regulator Sebi on Monday provided relaxation of 60 days to large Registrars to an issue/ Share Transfer Agents (RTAs) from complying with the enhanced requirements pertaining to periodic reporting. Under the rules, QRTAs or qualified RTAs are required to comply with enhanced responsibilities through adoption and implementation of an internal policy framework and periodic [...]
IBC provisions cannot be turned into debt recovery proceeding, says NCLAT
The National Company Law Appellate Tribunal on Monday said the provisions of the Insolvency & Bankruptcy Code (IBC) cannot be turned into a debt recovery proceeding as the idea of this special code is to bring a debtor company back on its feet. Setting aside an order of the National Company Law Tribunal (NCLT) to [...]
SVB fall: US admin’s statement positive outcome, gives confidence on recovery of money: Nazara Tech CEO
Nazara Tech, whose two step-down subsidiaries have Rs 64 crore deposits in Silicon Valley Bank, on Monday said the US administration's statements on protecting depositors for the entire amount is a "positive outcome" and gives confidence about the recovery of money. The two subsidiaries have working capital to meet their requirements, including payroll, Nitish Mittersain, [...]
Learn to trade Options with this Best-Selling Options Trading Course By FinGrad
FinGrad Academy has recently launched a complete Options Trading Course for Beginners on its learning platform. This options trading course is created by Kunal Patel and is a recorded course with a duration of 300 minutes and in the Hindi language. Kunal Patel, the instructor of this course, is a full-time trader with 8+ years [...]
Sebi to auction 66 properties of Saradha Group on April 11 to recover investors’ money
Markets regulator Sebi on Monday said it will auction 66 properties of Saradha Group on April 11 at a reserve price totalling Rs 32 crore to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include land parcels located in West Bengal, the Securities and [...]
Top 5 stocks in which Vijay Kedia holds a stake of up to 12%; Are you holding any?
Vijay Kishanlal Kedia, an Indian ace investor and his company Kedia Securities Pvt. Ltd are among the largest shareholders in several listed companies. He publicly holds a stake in more than 15 listed companies and has a net worth of over ₹ 667.3 crores. Many investors follow the changes in the portfolios of ace investors [...]
RBI may hike benchmark lending rates by 25 bps in April policy: DBS Research
The Reserve Bank is likely to hike benchmark lending rates by 25 basis points in its bi-monthly policy next month to bring down inflation within the central bank's comfort zone, DBS Group Research said on Monday. To contain the rising prices, the RBI has hiked interest rates by 250 basis points since May last year. [...]
Fitch affirms ‘BBB-‘ rating of Adani Electricity Mumbai, its USD 2-billion note programme
Fitch Ratings on Monday affirmed the credit rating of Adani Electricity Mumbai, saying the Hindenburg Research report alleging governance issues at the Adani group has a limited near-term impact on the company's cost of funding. In a statement, the rating agency said, it has affirmed the 'BBB-' rating on Adani Electricity Mumbai Ltd (AEML) US [...]
Centre seeks LS nod for additional spending of Rs 1.48 lakh cr this fiscal
The government on Monday sought Lok Sabha approval for net additional spending of over Rs 1.48 lakh crore in the current fiscal. The second batch of supplementary demands for grants for the 2022-23 fiscal was tabled in the Lok Sabha by Minister of State for Finance Pankaj Chaudhary. "Approval of the Parliament is sought to [...]
Sri Lanka hit by strikes by trade unions against tax reforms ahead of IMF bailout deal
Trade unions of most state sector establishments in Sri Lanka went on a strike on Monday against the government’s tax reforms to secure approval for the much-required USD 2.9 billion bailout package from the IMF. The debt-struck country introduced painful economic measures such as tax hikes, and utility rate increases, part of the reforms prescribed [...]
Sensex tanks nearly 900 points to close below 59k; Nifty tests 17,000
Falling for the third straight session, equity benchmark Sensex tanked nearly 900 points to close below the 59,000 mark on Monday due to a massive sell-off in banking, finance and auto stocks amid one of the biggest US bank failures. Besides, unabated flight of foreign capital and a weak domestic currency amid global rate hike [...]
Automobile stock falls 8% as promoters plan to sell stake via Block Deal
According to a CNBC report, Mahindra & Mahindra Limited (M&M), an Indian multinational automotive manufacturing corporation that holds a 9.25% stake in Mahindra CIE announced that it is planning to sell its stake. The company announced that it will offload a 6.5% stake in Mahindra CIE via block deals on Monday. The deal size is [...]
Outflows in debt mutual funds continue, Rs 13,815-cr withdrawn in Feb
Mutual funds focussed on investing in fixed-income securities witnessed an outflow of Rs 13,815 crore in February, making it the third month of withdrawals in a row despite expectations that the rate hike cycle was nearing its end. In comparison, such funds saw an outflow of Rs 10,316 crore in January and Rs 21,947 crore [...]
5 Stocks that will trade ex-split this week; Check the details
Companies announce corporate actions like stock splits to enhance the liquidity of their shares. When a company declares a stock split, the number of shares of the company increases, but the face value of its shares decreases. Meanwhile, the market capitalization remains the same, but the market price per share gets adjusted. The record date [...]
Sebi investigating market allegations against Adani group companies: MoS Finance
Regulator Sebi is investigating market allegations against Adani group, whose 9 listed companies saw a 60 per cent decline in their market capitalisation between January 24 and March 1, Parliament was informed on Monday. Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that the volatility in the stocks of these companies [...]
Bank of England backs HSBC rescue of Silicon Valley Bank’s UK arm
The UK government announced on Monday that it has facilitated London-based banking major HSBC to buy the embattled UK arm of Silicon Valley Bank for 1 pound, securing the deposits of more than 3,000 customers worth around 6.7 billion pounds. Santa Clara, California-based Silicon Valley Bank – which specialised in lending to technology companies – [...]
LIC’s debt exposure in Adani group cos dips marginally to Rs 6,183 cr as of March 5
LIC's debt exposure in Adani group companies fell marginally to Rs 6,183 crore as of March 5 from Rs 6,347 crore as of December 31, 2022, Parliament was informed on Monday. In a written reply to the Lok Sabha, Finance Minister Nirmala Sitharaman said, "The Life Insurance Corporation of India (LIC) has informed that its [...]
Bank stock with high FII holding falls more than 6%; Brokerage sees an upside of 44%
Shares of IndusInd Bank slipped 6 percent today after the Reserve Bank of India (RBI) approved the re-appointment of Mr. Sumant Kathpalia as the Managing Director (MD & CEO). There is a mismatch observed with RBI approving the reappointment for a period of 2 years as against the board's approval for 3 years. The reappointment [...]
E-rupee worth over Rs 130 crore in circulation: Sitharaman
Digital or e-rupee worth over Rs 130 crore is in circulation on a pilot basis as of February 28, finance minister Nirmala Sitharaman said on Monday. The Reserve Bank of India (RBI) had launched pilots in digital rupee in the wholesale segment (e₹-W) on November 1, 2022 and in the retail segment (e₹-R) on December [...]
68,000 cases picked up for e-verification for income mismatch in AIS, ITR for FY 2019-20
As many as 68,000 cases have been picked up for e-verification by the income tax department for unreporting or under reporting of income in tax returns for 2019-20 fiscal, CBDT chief Nitin Gupta said on Monday. Under the e-verification scheme, the I-T department informs the taxpayers about mismatch in Annual Information Statement (AIS) about financial [...]
Multibagger textile stock delivers 138% returns in one month, hits upper circuit
From ₹ 310 to ₹ 738.05 apiece, the shares of this multibagger textile stock zoomed 138.08% in a month’s time. If an investor would have invested ₹ 1 lakh in the company’s shares a month ago, the value of their holdings would have been ₹ 2.38 lakhs today! With a market capitalization of ₹ 300 [...]
Fundamentally strong stock jumps 9% today after volumes increase; Do you own it?
The shares of Automotive Axles Ltd have shown an upside movement of around 9 percent today. The company’s stock opened its trading session at Rs 2,315 and is currently trading at Rs 2,527 showing an upside of around 9 percent. Automotive Axles, established in 1981, is engaged in the business of manufacturing and supplying Automotive [...]
Indian soft drink market expected to see significant growth, says PepsiCo bottler Varun Beverages
The Indian soft drink market is expected to see "significant growth" as consumption is anticipated to increase steadily, which will deliver sustainable and healthy volume growth across all product categories, said Varun Beverages Ltd (VBL), PepsiCo's largest franchise bottler. This would be driven by factors such as shifting population demographics, the rising spending power of [...]
Navratna Stock declares a dividend of ₹ 20 per share; Jumps to a fresh 52-week high
Hindustan Aeronautics Ltd (HAL), a Navratna CPSE has declared a second interim dividend of ₹ 20 per equity share of ₹ 10 each fully paid up. The company's shares have been on an uptrend and have gained 2.27% on Monday’s intraday trades to reach a fresh 52-week high of ₹ 2,914.00 apiece on the National [...]
MSME competitive scheme part of efforts to strengthen sector: PM Modi
Prime Minister Narendra Modi on Monday said the government's MSME Competitive (LEAN) scheme is a part of its efforts to strengthen the MSME sector, which is a key pillar of India's economic growth. The government on Friday launched the revamped MSME Competitive (LEAN) scheme to make it more beneficial for enterprises and stakeholders. Under the [...]
Large cap IT stock jumps more than 9% after appointing new CEO; Check the details
IT Major Tech Mahindra’s shares zoomed 9.75% and witnessed their largest single-day jump in three years after the company appointed a new MD and CEO designate. Its shares reached an intraday high of ₹ 1164.70 apiece on the National Stock Exchange (NSE) and were trading at ₹ 1,144.00 apiece at 11:21 AM. The company’s current [...]
Bank of Maharashtra cuts home loan rate to 8.4%
State-owned Bank of Maharashtra (BoM) on Sunday announced a reduction in the interest rate on home loans to 8.4 per cent from the existing 8.6 per cent. The new rate is effective from March 13, 2023, BoM said in a statement. The home loan at 8.4 per cent makes it one of the lowest in [...]
Hybrid energy project likely to start by 2024: JSL MD
The 300 MW hybrid project in partnership with ReNew is expected to commence operation in the next 18 months, Jindal Stainless Managing Director Abhyuday Jindal has said. In December 2022, Jindal Stainless Ltd (JSL) partnered with ReNew to develop the proposed 300 MW hybrid energy project. When asked about the timeline of the project, Jindal [...]
India’s chemical demand likely to jump to USD 1,000 billion by 2040
India is likely to account for more than a fifth of incremental global consumption for chemicals over the next two decades as domestic demand is projected to rise to USD 1,000 billion by 2040, McKinsey said in a report. In the report titled 'India: The next chemicals manufacturing hub', McKinsey said the country's chemical industry [...]
Adani repays $2.15 bn loan taken pledging shares, prepays another $500 mn loan for Ambuja cement
Embattled Adani Group on Sunday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme ahead of the March 31 deadline to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. In a statement, Adani group said it has repaid [...]
Silicon Valley Bank depositors will have access to their money starting Monday: US Treasury Secretary
In a step aimed at protecting the US economy by strengthening public confidence in the country’s banking system, the Biden administration has announced that depositors of the failed Silicon Valley Bank will have access to their money from Monday. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation (FDIC) and the Federal [...]
Sensex surges 344 points in early trade; Nifty rises 108 points
The equity market opened on a strong note on Monday, with benchmark index Sensex jumping 344 points amid positive investor sentiments and mixed global cues. The 30-share BSE Sensex surged 344.92 points or 0.58 per cent to 59,480.05 points while the broader NSE Nifty climbed 108.05 points or 0.62 per cent to 17,520.95 points. As [...]
3 Multibagger Penny stocks with high promoter holding of more than 74%; Do you own any?
Penny stocks are shares of small publicly traded companies that are listed on stock exchanges with a Market Cap of upto 200 crores and the stock prices being less than Rs 50. They are not widely traded securities and their potential gains are usually determined by sharp spikes in market volatility. Penny stocks can be [...]
Stocks to BUY: 8 Stocks that can deliver returns of up to 54%
Fall in the select US banks added to the overall Global uncertainty regarding the quantum of the next Fed rate hike. US jobs data that would be released late on Friday will also be crucial for the upcoming Fed meeting as it could also influence the Fed rate decision. Expect the volatility to continue next [...]
3 LIC Portfolio stocks that outperformed the Nifty 50; Are you holding any?
The Life Insurance Corporation of India (LIC) has holdings in various Indian stocks. As per the shareholding data for the latest quarter, the insurance behemoth commands a lion’s share of investments in equities by insurance companies. Some of the top holdings in LIC’s portfolio include IDBI Bank(49.24%), LIC Housing Finance(45.24%), Standard Battery(19.99%), Modella Woollens(17.31%), Cochin [...]
Weekly Recap: Jio’s acquisition, 125 cities to get 5G, Titan case and more
Lifting investor sentiments, domestic benchmark indices opened higher on Monday. The thirty-share BSE Sensex opened at 60,007.04 points, up 0.33%, while the fifty-share NSE Nifty 50 started the truncated week at 17,680.35 points, up 0.49%. The markets remained closed on Tuesday on account of Holi. On Friday, the gauges were in the red, extending declines [...]
Indian Energy Exchange commences trade on High Price Day Ahead Market
Indian Energy Exchange on Friday said it has commenced trade in the High Price Day Ahead Market segment to provide a new avenue of high variable cost electricity generators like imported coal and gas-based projects. "IEX, India’s premier energy exchange, today announced the commencement of trade in the High Price Day Ahead Market (HP-DAM) segment," [...]
PM to address post Budget webinar on VIKAS scheme on Saturday
Prime Minister Narendra Modi will address the post Budget webinar on PM VIshwakarma KAushal Samman scheme on Saturday. It is part of a series of 12 post Budget webinars being organised by the government to seek ideas and suggestions for effective implementation of the initiatives announced in the Union Budget. "The webinar will have four [...]
Equity investors’ wealth plunges Rs 1.36 lakh cr amid sell-off in markets
Investors became poorer by Rs 1.36 lakh crore on Friday as the markets witnessed a sell-off amid weak global trends. Benchmark stock indices Sensex tanked 671.15 points or 1.12 per cent to close at 59,135.13, as 21 of its scrips declined. The sharp decline in equities eroded Rs 1,36,037.96 crore from the market capitalisation of [...]
DGCA deregisters SpiceJet’s 2 Boeing planes; airline says will have no impact on operations
SpiceJet's two Boeing 737-800 planes have been deregistered by aviation watchdog DGCA, with the no-frills carrier saying both aircraft are being returned in the "most efficient manner consensually". A SpiceJet spokesperson also said the return of the two aircraft will not impact its operations. The Directorate General of Civil Aviation (DGCA) deregistered VT-SZK and VT-SYA [...]
Global Surfaces sets IPO price band at Rs 133-140 per share
Global Surfaces Ltd, which is into processing natural stones and manufacturing engineered quartz, on Friday said it has set a price band of Rs 133-140 a share for its Initial Public Offering (IPO). The initial share sale, which opens for subscription on March 13, will close on March 15, the company said in a statement. [...]
Equity mutual funds inflows hit 9-month high at Rs 15,685 crore in Feb
Equity mutual funds attracted Rs 15,685 crore in February, making it the highest net infusion in nine months despite significant volatility in the stock markets. This is higher than Rs 12,546 crore inflow seen in January and Rs 7,303 crore reported in December. February also saw the 24th straight month of inflows into equity-oriented mutual [...]
Tata Power Renewable Energy signs PPA with TPDDL for 510 MW hybrid plant
Tata Power Renewable Energy has signed an agreement with Tata Power Delhi Distribution Ltd (TPDDL) to supply electricity from its 510 MW solar-wind hybrid project, a statement said on Friday. It is one of the largest hybrid projects in the country with the capacity bifurcation of 170 MW solar & 340 MW wind power. The [...]
Sensex, Nifty decline 1% on selling in IT, financial shares amid weak global cues
Benchmark stock indices Sensex and Nifty tanked more than 1 per cent on Friday due to heavy selling in IT, financial and oil stocks in line with weak trends in the global markets. The 30-share Sensex tanked 671.15 points or 1.12 per cent to close at 59,135.13, as 21 of its scrips declined. The index [...]
Large cap telecom stock gets a BUY call with an upside of 16%, Are you holding it?
Telecom major Bharti Airtel’s share price remained composed even as the markets were deep in the red on Friday. The fifty-share NSE Nifty 50 was trading at 17,385.60 points, down 1.16%, while the thirty-share BSE Sensex was down 1.25% at 59056.92 points at 03:01 PM on Friday. Meanwhile, Airtel’s shares were trading at ₹ 774.00 [...]
Healthcare company in talks to acquire Care Hospitals; Stock jumps 2%
Max Healthcare Institute Ltd opened its trading session at Rs 453.20 and gained approximately 2 percent to trade at Rs 460. Within a timeframe of 1 month, the stock has provided its stakeholders with a gain of 6.8 percent ranging from Rs 437.40 to the current stock levels. Moving further ahead with a span of [...]
Rs 14 cr worth liquor sold in Noida ahead of Holi, highest since COVID-19 outbreak: Excise data
Liquor worth around Rs 14 crore was sold across Noida and Greater Noida in the two days ahead of Holi, after subdued sales since the outbreak of the COVID-19 pandemic, Gautam Buddh Nagar Excise Department officials said on Friday. In the run-up to Holi last year, the revenue earned from liquor sales stood around Rs [...]
HUL appoints Rohit Jawa as new MD & CEO
FMCG major HUL on Friday announced the appointment of Rohit Jawa as the Managing Director & Chief Executive Officer. Jawa, presently the Chief of Transformation for Unilever, would take over the leadership role for five years with effect from June 27, 2023. "The appointment of Rohit Jawa as a whole-time Director and MD & CEO [...]
₹ 14.70 to ₹ 152: Multibagger penny stock announces 1:4 bonus and 1:10 stock split
IFL Enterprises Ltd, is a company involved in the business of trading in goods like fabric and related products. In addition, it is involved in selling shares and securities within permissible limits prescribed by the regulators. The company has a market capitalization of ₹ 281 crores and its shares are currently trading at ₹ 152.95 [...]
Blue chip stock trading near its 52-week low; Is it a good time to buy?
Reliance Industries Ltd (RIL) started its trading session at Rs 2,341.50 and is currently trading at Rs 2,316.55 which is a downfall of 1.06 percent. In the past two sessions, the stock has shed almost 4 percent. This week has been full of announcements for the company and the same has been listed below: Firstly, [...]
India, US ink MoU on semiconductor supply chain, innovation partnership
India and the US on Friday signed a memorandum of understanding (MoU) on semiconductor supply chain and innovation partnership during the Commercial Dialogue 2023 here, the commerce ministry said. On the invitation of Commerce and Industry Minister Piyush Goyal, the US Secretary of Commerce Gina Raimondo visited Delhi between March 7 and 10. During this [...]
Pharma stock jumps 35% in 2 days after it terminates acquisition deal, Do you own it?
SeQuent Scientific, despite the markets being under pressure, stock saw a strong rally and jumped 13 percent today trading at Rs 83.85 in comparison to the previous closing price of Rs 74.10. In a span of just 2 days, the stock has seen a movement of around 35 percent from Rs 70 to current stock [...]
Punjab FM presents Rs 1.96-lakh-cr budget for 2023-24; agri, education health key focus areas budget
Punjab Finance Minister Harpal Singh Cheema presented a Rs 1.96-lakh-crore state budget for 2023-24 in the assembly here on Friday with a focus on agriculture, education and health segments. Speaking in the Assembly, Harpal Cheema said education, health, and agriculture are among the priority sectors for the government. Total budget size has been increased by [...]
Deloitte in India nearly doubles workforce in 3 years
Deloitte in India has hired close to 50,000 professionals over the last three years, nearly doubling the headcount as it invests in people and productive capacity in the country, the audit firm said on Friday. In a statement Deloitte Touche Tohmatsu India LLP said it focused on building skills to deliver technology-driven growth. It also [...]
Tata motors engineering unit tata technologies files DRHP with SEBI; Check the details
Tata Technologies, a unit of Indian automobile major Tata Motors filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI)for an initial public offering (IPO) on Thursday. Following the announcement, the shares of Tata Motors gained 1.29% in an otherwise weak market. Tata Technologies provides engineering and product development [...]
Thermax partners with Fortescue Future Industries to foray into green hydrogen market
Energy and environment solution provider Thermax on Friday announced its foray into the green hydrogen market in partnership with Australia-based Fortescue Future Industries (FFI). Thermax and FFI plan to explore opportunities to jointly develop fully integrated green hydrogen projects for commercial and industrial customers in India, a statement said. Thermax Ltd, an energy and environment [...]
Multibagger chemical stock hits 20% upper circuit; Are you holding it?
Deep Polymers Limited jumped 20 percent today and hit the upper circuit today. The stock opened its trading session at Rs 106.50 and is currently trading at Rs 121.54. Within a span of just 2 days, the stock performed exceptionally well leading the stakeholders to enjoy an upside of around 38 percent. Having a purview [...]
REC board okays Rs 1.2 lakh cr market borrowing programme for 2023-24
State-owned non-banking finance firm REC Ltd board on Thursday approved Rs 1,20,000 crore market borrowing programme for 2023-24 in its meeting. "Board of Directors of REC Ltd in its meeting held on March 9, 2023, inter-alia approved the market borrowing programme under different debt instruments for the financial year 2023-24," a BSE filing stated. REC [...]
Bessemer India Capital exits Home First Finance, sells 7.75% stake for Rs 467 cr
Bessemer India Capital Holdings II on Thursday divested 7.75 per cent stake in Home First Finance Company India for over Rs 467 crore through an open market transaction. Fidelity Funds - Asian Smaller Companies Pool and Nomura Trust and Banking Co. Ltd bought a total of 11.93 lakh equity shares of the company. Bessemer India [...]
IRB Infra total toll collection rises 27% to Rs 351.75 cr in Feb
IRB Infrastructure Developers on Thursday said its total toll collection across all projects has increased 27 per cent year-on-year to Rs 351.75 crore in February 2023. The company had reported the toll collection at Rs 277.47 crore in February 2022, it said in a statement. IRB Infrastructure Developers Chairman & Managing Director Virendra D Mhaiskar [...]
Titan Case: Sebi disposes of show cause notices against 22 individuals
Capital markets regulator Sebi on Thursday disposed of show-cause notices issued against 22 individuals as the allegation of violation of insider trading rules was not established in Titan Company Ltd (TCL) case. The order came after the Securities Appellate Tribunal (SAT) in its ruling on February 7 had set aside Sebi's order against 22 individuals [...]
Biden unveils USD 6.9 trillion budget, raises taxes on rich, boosts spending on social programmes, infra
US President Joe Biden on Thursday unveiled a USD 6.9 trillion annual budget for the year 2024, which proposes a hefty tax on the rich, massive spending on social measures and investment on building key infrastructure. The budget was termed a "non-starter" by the Republicans who have a majority in the House of Representatives. Biden [...]
Sensex, Nifty plunges over 1% as IT, financial shares drop
Benchmark stock indices Sensex and Nifty declined by more than 1 per cent in opening trade on Friday due to heavy selling in financials, IT and capital goods stocks amid weak global trends. The 30-share BSE barometer plunged 730.17 points or 1.22 per cent to 59,076.11 as 25 of its constituents traded in the red. [...]
Large cap paint stock gets BUY call after it highlights growth opportunities; Upside of 32%
With a market capitalization of ₹ 1,05,126 crores, Grasim Industries is a large-cap stock. The company is the flagship company of the Aditya Birla Group and its businesses consist of viscose Staple fibre (VSF), caustic soda, speciality chemicals, and rayon-grade wood pulp (RGWP) with plants at multiple locations. It also has certain other businesses such [...]
Pak govt raises sales tax on luxury items to 25%
The Pakistan government has hiked sales tax from 17 per cent to 25 per cent on select luxury goods, media reports said on Thursday, as the cash-strapped country was taking steps to unlock the USD 1.1 billion tranche of funding from the IMF. The International Monetary Fund (IMF) is refusing to release the USD 1.1 [...]
Jaypee Infra insolvency: Suraksha Group to infuse Rs 250 cr, arrange Rs 3k cr loan to complete 20,000 flats
Mumbai-based Suraksha Group, which recently got the NCLT approval to acquire Jaypee Infratech, will infuse Rs 250 crore in the debt ridden Jaypee Group firm and also arrange Rs 3,000 crore loan for completion of around 20,000 apartments in various stalled projects over the next four years. As per the resolution plan of Suraksha Group [...]
Reliance brings back Campa Cola of the 70s
Billionaire Mukesh Ambani's Reliance re-launched the 50-year-old iconic beverage brand Campa Cola in a new contemporised avatar as it looks to ramp up its own consumer goods offering to take on competition from Adani, ITC and Unilever. In January this year, Reliance Consumer Products Ltd, the fast-moving consumer goods arm of Reliance Retail, acquired a [...]
Swan Group leases out vessel to Turkey govt firm for Rs 800 cr
Swan Energy through its subsidiary Triumph Offshore has signed an agreement to lease out its floating storage regasification unit (FSRU) vessel to Turkish government-owned natural gas and LNG firm Botas for an annual rentals of around Rs 800 crore. The lease arrangement is for a daily rental of USD 250,000, or about Rs 2 crore, [...]
Sebi introduces reward mechanism for informants providing tips on defaulters
With an aim to recover fines from elusive offenders, capital markets regulator Sebi on Thursday introduced a reward system for up to Rs 20 lakh to informants for sharing information about the assets of defaulters. The reward may be granted in two stages -- interim and final. While the interim reward amount will not exceed [...]
Jio buys US-based Mimosa Networks for USD 60 mn
Jio Platforms, the digital arm of Reliance Industries Ltd, will buy communications equipment maker Mimosa Networks for USD 60 million as it looks to bolster its 5G telecom and broadband services. Radisys Corporation, a subsidiary of Jio Platforms, signed a definitive agreement with US-based Airspan Networks Holdings for acquisition of "Mimosa Networks for USD 60 [...]
Infosys collaborates with mobility specialist ZF to revamp supply chain ops
IT services company Infosys on Thursday said it has collaborated with mobility specialist ZF to revamp its supply chain with SAP Integrated Business Planning and Infosys Cobalt. Infosys was chosen to assist ZF on this transformation journey for its expertise in SAP IBP implementation and a plethora of in-house tools and accelerators, backed by efficient [...]
IndiGo appoints Mark Sutch as Chief Commercial Officer for intl cargo business
The country's largest airline IndiGo has appointed Mark Sutch as the Chief Commercial Officer for its international cargo business. From March 1, the carrier said its cargo business CarGo will have two CCOs -- Mahesh Kumar Malik for domestic and Sutch for international segments. IndiGo inducted its first A321 freighter in November and the second [...]
L&T Technology Services announces CoE in Mysore to offer automotive solutions on AWS
L&T Technology Services (LTTS) on Thursday announced a new Centre of Excellence (CoE) in Mysore, Karnataka, that leverages the power of the cloud with Amazon Web Services (AWS). The CoE will allow L&T Technology Services to transition its suite of technologies focused on the future of mobility and reduce time-to-market for end customers. "By leveraging [...]
Auto stock hits 52-week high after EV fleet enhancement in Maharashtra budget
The shares of JBM Auto surged 8.47% on Thursday and reached a fresh 52-week high of ₹ 644.20 apiece on the National Stock Exchange (NSE). This happened after the Maharashtra government announced that the total EV fleet under the state transportation network would be increased by 5,000. While presenting the state's fiscal roadmap for 2023-24, [...]
EV stock gets a BUY call with a upside of 21% after it opens its first e-bike facility
Bharat Forge Limited (BFL), through its E -Mobility subsidiary, Kalyani Powertrain Limited, inaugurated its first ‘E-bike’ manufacturing facility at MIDC Chakan in Pune on 08th March 2023. The facility has a production capacity of 60,000 units per annum and is scalable to 100,000 units per annum. It will undertake the assembly of E-bikes for Tork [...]
Best Agrolife board okays Rs 200 crore investment plan
Agrochemical firm Best Agrolife on Thursday said its board has approved capital expenditure (capex) plan of Rs 200 crore towards brownfield expansion and brand building. The company plans to utilise Rs 150 crore towards brownfield expansion in the technical manufacturing unit of Best Crop Science, its wholly-owned subsidiary, Best Agrolife said in a statement. The [...]
Indian Overseas Bank disburses loans worth Rs 5.02 cr to self-help groups
Public sector Indian Overseas Bank has disbursed Rs 5 crore worth of loans to self help groups during a campaign held in the city recently coinciding with the Women's Day celebrations, the bank said on Thursday. The women entrepreneur branch of Indian Overseas Bank in the city sanctioned loans worth Rs 1.53 crore during the [...]
Multibagger penny stock with 640% returns announces stock split and bonus issue
Global Capital Markets is a non-banking financial company that lends both long-term and short-term loans, as well as invests in stocks and other securities. With a market capitalization of ₹ 88 crores, it is a penny stock listed on the Bombay Stock Exchange (BSE). The company’s shares have been on an uptrend since February 23, [...]
PTC Fin Serv receives pre-payment of Patel Darah-Jhalawar Highway loan
PTC India Financial Services on Thursday said it has received full pre-payment of its loan account of Patel Darah-Jhalawar Highway. The erstwhile independent directors of the company had highlighted the loan account, and hence, as a matter of prudence, PTC India Financial Services has taken proactive measures to recover the entire outstanding dues, the company [...]
Sensex snaps 3-day winning run; falls 540 points
Equity benchmark Sensex declined nearly 540 points on Thursday, pressured by heavy selling in index heavyweights Reliance Industries, Bajaj Finserv and ICICI Bank amid a sluggish trend in the global markets. Besides, a weak rupee against major currencies overseas further weighed on sentiment, traders said. Snapping its three-day gaining streak, the 30-share BSE Sensex opened [...]
Pak finance minister Ishaq Dar hopeful of signing bailout deal with IMF this week
Pakistan's Finance Minister Ishaq Dar vowed on Thursday that the government was “absolutely committed” to completing the current USD 7 billion bailout programme with the IMF, once again indicating that the cash-strapped country could sign the staff-level agreement with the global lender this week. The Pakistan government is in a race against time to implement [...]
Multibagger stock falls 3.5% after promoter plans to offload shares worth Rs 234 crores
Clear Wealth Consultancy Services, one of the promoters of Gokaldas Exports and holding a 20.56 percent stake as of Q3, is likely to sell a portion of its shares which is estimated to be 8.25 percent (40% of the total stake) through a block deal. The deal is likely to be done at a price [...]
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