Home Business Stock Market LIVE: Sensex, Nifty rangebound; Bharti Hexacom IPO subscribed 5% so far | News on Markets

Stock Market LIVE: Sensex, Nifty rangebound; Bharti Hexacom IPO subscribed 5% so far | News on Markets

Stock Market LIVE: Sensex, Nifty rangebound; Bharti Hexacom IPO subscribed 5% so far | News on Markets

12:35 PM

ALERT :: IndiGo, Malaysia Airlines sign codeshare agreement

>> Malaysia Airlines and IndiGo have signed a Memorandum of Understanding (MoU) for a codeshare partnership and mutual cooperation agreement.

>> The agreement will enable both carriers to provide customers with more options and flexibility for seamless travels between Malaysia and India.

12:20 PM

First RBI MPC meet for FY25 starts today: Here is all you need to know

Experts anticipate the RBI will maintain the key interest rate unchanged in April, focusing on steering inflation towards the four per cent target, following alleviated concerns regarding economic growth, with GDP growth projected at nearly 8 per cent. READ MORE

12:04 PM

ALERT :: USFDA classifies inspection of Granules Pharmaceuticals as ‘Voluntary Action Indicated’

>> GPI has received a communication from the US FDA indicating the inspection classification as ‘Voluntary Action Indicated’ (VAI).

>> The VAI inspection classification indicates that the US FDA will not take or recommend regulatory or enforcement action.

>> Granules Pharmaceuticals, Inc. (GPI) is a wholly-owned foreign subsidiary of Granules, located in Chantilly, Virginia, USA.


11:51 AM

SAIL at 14-yr high; Can steel stocks extend rally? Here’s what charts say

Tata Steel reported a record-breaking 20.5 million tonnes of steel production in FY24. SAIL too posted 5 per cent growth in crude steel production at 19.2 million tonne for the financial year ended March 2024. SAIL also achieved its highest-ever sales volume of 17.1 MT for the year. READ MORE

11:37 AM

This jewellery stock gained 4% today despite gold price hitting record high

Shares of PC Jeweller advanced 4.2 per cent to Rs 59.79 per share on the BSE in Wednesday’s intraday trade after Karur Vysya Bank accepted the debt laden jewellery seller’s one-time settlement offer. 

“Karur Vysya Bank Limited, vide its e-mail / letter dated April 02, 2024, has conveyed acceptance of ‘One Time Settlement’ proposal submitted by the company to settle the outstanding dues,” PCJ said in an exchange filing. Read more

Indians are putting their money into markets, not gold.   Photographer: Dhiraj Singh/Bloomberg

10:46 AM

Small cap companies set to erase losses sparked by froth warnings

A key gauge of small-cap stocks in India is set to wipe out losses from last month’s lows, with bullish investors putting the regulatory warning about market froth behind them.

A eight-day rally has put the Nifty Smallcap 250 Index on course for reclaiming the Feb. 27 level when the securities regulator flagged the risk of a potential bubble in the smaller companies. Read more

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10:39 AM

Anupam Rasayan sprints 7% on signing $90-mn LoI with Japanese MNC

Shares of Anupam Rasayan rallied 7 per cent to Rs 945 on the BSE on Wednesday after the speciality maker signed a letter of intent (LoI) with a prominent Japanese multinational. At 10:12 AM, the shares were quoting 3 per cent higher at Rs 911 as against a 0.12 per cent dip in the benchmark S&P BSE Sensex.

In an exchange filing, Anupam Rasayan said it has signed a Letter of Intent (LoI) with a leading Japanese multinational company worth revenue of nearly $90 million (Rs 743 crore) over next seven years. Read more

10:29 AM

SRM Contractors freezes at 5% upper circuit; up 12% against issue price

Shares of SRM Contractors locked in 5 per cent upper circuit at Rs 236.20, a 12.5 per cent gain against its issue price of Rs 210 on the BSE in Wednesday’s intra day deals. The trade saw only buyers seen on the counter on its market debut. A combined 1.1 million equity shares changed hands and there are pending buy orders for 0.97 million shares on the National Stock Exchange (NSE) and BSE. Read more

10:06 AM

Adani Green becomes first Indian firm with 10K MW renewable energy capacity

Adani Green Energy Ltd on Wednesday said it has commissioned 2,000 MW of solar capacity at the giant Khavda solar park in Gujarat that has made it the first company in India with over 10,000 MW of renewable energy capacity.

The company now has an operating portfolio of 10,934 MW, largest in India. Read more

9:53 AM

Adani Power hits record high; rallies 18% in 4 days on healthy outlook

Shares of Adani Power hit a record high of Rs 611.75, as they rallied 4 per cent on the BSE in Wednesday’s intra-day trade on a healthy business outlook in otherwise a weak market.

The stock of the Adani Group integrated power utilities company is quoting higher for the fourth straight trading days, surging 18 per cent during this period. It surpassed its previous high of Rs 589.30 touched on December 6, 2023. In comparison, the S&P BSE Sensex was quoting down 0.4 per cent at 73,618 at 09:23 AM. Read more

Adani power

9:47 AM

ALERT :: HDFC MF to discontinue accepting lump sum inflows into its Nifty Realty Index Fund

>> Starting Monday, HDFC Mutual Fund will discontinue accepting lump sum inflows into its HDFC Nifty Realty Index Fund from Monday, the company’s website said.


>> Systematic investment plans & SIP top-ups will also be limited to Rs 1 lakh

>> The fund house, however, said there will be no restrictions on redemptions, switch-out, and registration of a fresh systematic withdrawal plan.


9:34 AM

Bharti Hexacom IPO opens today: Price band, offer size, GMP, review & more

Bharti Hexacom’s Rs 4,275-crore initial public offer will open for subcription on Wednesday, April 3. With a price band of Rs 542 to Rs 570, the issue will remain open till Friday, April 5.   

At the upper price band, the company will command a market capitalisation of Rs 28,500 crore post the offer. Read more

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