On March 12, Aurobindo Pharma’s share price remained largely unchanged after the company’s subsidiary received approval from the World Health Organization (WHO) for Good Manufacturing Practices (GMP). As of 09:56 am, Aurobindo Pharma was trading at Rs 1,063.90 on the BSE, down Rs 0.45 or 0.04 percent. The WHO’s Prequalification Unit Inspection Team (PQT-INS) inspected … Read more
On March 12, Praveg Limited experienced a notable 4% surge in its stock price at the market open, propelled by the news of Goldman Sachs India Equity Portfolio acquiring a 2.18% stake in the company. Simultaneously, promoter Patel Ashaben Vishnukumar divested a 2.85% stake in the firm. As of 9:40 am, Praveg Limited’s stock was … Read more
BSE has revealed adjustments to its indices, featuring additions and removals across approximately 17 indices. These modifications are slated to take effect from March 18. Notably, the S&P BSE Bharat 22 Index, S&P BSE REIT & InvIT Index (INR), S&P BSE Telecommunication, and S&P BSE Private Banks Index will remain unchanged, according to the official … Read more
On March 12, Aditya Birla Capital’s shares surged by nearly 4% upon opening on the NSE, a significant move triggered by the board of directors’ approval for the merger with Aditya Birla Finance Ltd on March 11. The announcement of the merger came after market hours, driving early investor optimism. As of 9:20 am, the … Read more
Global stock indices dipped for the second consecutive session on Monday, extending losses from recent record highs as investors braced for the release of U.S. inflation data later in the week. The upcoming data release is anticipated to have a significant impact on the Federal Reserve’s decision-making regarding interest rates. Despite hitting multiple record highs … Read more
Sensex and Nifty Open Strong, Tracking Positive Trends in Broader Asian Markets: The Indian benchmark indices, Sensex and Nifty, kicked off the trading day on a high note, following the upbeat sentiment seen across Asian markets. The Sensex surged by 53.94 points to reach 73,556.58, while the Nifty climbed 15.75 points to hit 22,348.40 in … Read more
Tuesday Sees ITC Shares Fall Further: Second Day of Losses as Stock Dips Another 2.5%. Today’s Decline Adds to 20% Drop from Peak of ₹499.7 Recorded on July 24 Last Year. CNBC-TV18 Sources: British American Tobacco (BAT), ITC’s Largest Shareholder, Plans Share Sale This Week. BAT Holds 29% Stake in ITC as of December Quarter … Read more
The initial public offering (IPO) of Gopal Snacks Limited concluded on Monday, March 11, 2024, with an impressive overall subscription of 9.50 times. The IPO, worth Rs 650 crore, was open for public subscription from Wednesday, March 6, 2024. Investors showed significant interest in the IPO, with bids received for 10,80,83,438 shares against the 1,13,81,955 … Read more
In the latest data for February, the Consumer Price Index (CPI) reveals that retail inflation has continued to exceed the 5% mark. Notably, prices of essential food items, particularly vegetables, have witnessed a resurgence, driving up overall inflation. Tomatoes and pulses, in particular, have experienced notable price hikes, contributing to the upward trajectory in food … Read more
Indian Rupee Gains Momentum as More Countries Embrace Trading in Domestic Currency, Piyush Goyal Highlights. In a significant development, Commerce and Industry Minister Piyush Goyal has revealed that several developed and developing nations are keen on trading in the Indian Rupee to reduce transaction costs, amid a global shift away from the dollar. Goyal stated, … Read more
NTPC and NTPC Green Energy Ink Initial Pacts to Explore Thermal Plants, Renewables, and Green Hydrogen in Rajasthan. New Delhi: In a strategic move aimed at bolstering sustainable energy initiatives, the state-run power giant NTPC, along with its subsidiary NTPC Green Energy, has embarked on a transformative journey by signing two separate initial agreements. These … Read more
On Monday, shares of Zomato experienced a significant downturn, plummeting by 7% to reach a day’s low of Rs 149 on the NSE. This sudden decline was reportedly spurred by media speculation surrounding the impending re-entry of eCommerce giant Flipkart into the Quick Commerce (QC) sector within the next 6-8 weeks. Zomato, which currently operates … Read more
Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI), announced on Monday, March 11, that the capital markets regulator will initiate the T+0 (same day) trade cycle settlement on an optional basis by March 28. Buch highlighted that this move towards faster settlements is in response to the increasing prominence of … Read more
Kotak Institutional Equities has cautioned investors against the recent rally in government company stocks, advising them to seize the opportunity to exit most of their positions. Despite gains purportedly backed by fundamentals, the BSE PSU index has surged approximately 22 percent year-to-date, significantly outpacing the 2 percent rise in the benchmark Sensex. Analysts at Kotak … Read more
On March 11, shares of NLC India witnessed a robust surge of nearly 12% to reach a high of Rs 244.05 on the NSE as the company’s offer-for-sale (OFS) commenced for retail investors. The OFS is scheduled to close at 3:30 pm and is being conducted through a separate window of the stock exchanges. The … Read more
India and EFTA Sign Agreement; Ratification Process Underway. India and the European Free Trade Association (EFTA) have reached an agreement, with Switzerland aiming to ratify the deal by next year. The agreement includes commitments of $100 billion (€91 billion) in investments and the creation of one million direct jobs in India over the next 15 … Read more
March 11 witnessed heightened pressure on smallcap stocks as names like BCL Industries, JK Tyre, Tata Chemicals, JM Financial, and IIFL Finance saw significant declines of up to 17 percent on the BSE, reflecting concerns over potentially stricter SEBI regulations. Concurrently, the BSE Smallcap index experienced a notable decline of up to 1.6 percent. In … Read more
“The market regulator is taking preventive measures to curb the formation of a potential bubble by urging mutual funds engaged in small and mid-cap stocks to provide disclosures on stress testing,” revealed Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI). Speaking at an event hosted by the Association of Mutual … Read more
Amid mounting concerns over the soaring valuations in the small-cap stock segment, India’s market regulator signaled a readiness to reassess the regulations governing mutual fund investments in this area. Chairwoman Madhabi Puri Buch of the Securities and Exchange Board of India conveyed to reporters in Mumbai on Monday that the regulatory body is open to … Read more
Equity benchmarks, such as the Sensex and the Nifty, ended a two-day winning streak on March 11, facing downward pressure attributed to weaknesses in banking stocks. Despite this setback, analysts remained upbeat about the market’s prospects, citing expectations of continued upward momentum, fueled by anticipated short covering in index futures by both foreign and domestic … Read more