Posts in category Business Standard
Nifty Energy: Look for opportunities to sell on rise; Pharma seems sideways (22-02-2024)
On the upside, the Nifty Energy index is likely to face resistance around 39,650, says Ravi Nathani, an independent technical analyst.
Stock markets snap six-day winning streak; Sensex slumps 434.31 points (21-02-2024)
Equity benchmark indices Sensex and Nifty broke their six-day winning run on Wednesday and settled with a steep fall amid fag-end selling triggered by a rush for profit booking and mixed global cues.
The 30-share benchmark Sensex stayed mostly firm during intra-day but settled 434.31 points or 0.59 per cent lower at 72,623.09 points. It touched the intra-day low of 72,450.56, down 0.83 per cent from previous closing level of 73,057.40 points.
Similarly, the broader Nifty also paired all its intra-day gains before closing 141.90 points or 0.64 per cent down at 22,055.05 points. The 50-share barometer had hit a lifetime peak of 22,196.95 points on Tuesday and remained mostly in the upward trajectory on Wednesday.
In the Sensex pack, 20 stocks ended in the red while 37 of the Nifty constituents closed the session with losses.
NTPC was the biggest loser among the Sensex constituents, ending with a loss of 2.71 per cent. It was followed by PowerGrid, Wipro, HCLTech, L&T and Tech ...
SBI becomes 5th most valuable firm in terms of mcap, surpasses Infosys (21-02-2024)
Public sector lender State Bank of India (SBI) has surpassed IT major Infosys to become the country's fifth most valued firm by market valuation on Wednesday.
The scrip of the state-owned company gained 1.51 per cent to close at Rs 771.55 apiece on the BSE.
During the intra-day trade, shares of SBI hit its 52-week high of Rs 777.50 per piece.
At the end of trading session of Wednesday, the market capitalisation of SBI stood at Rs 6,88,578.43 crore, which is Rs 1,228.48 crore more than Infosys' Rs 6,87,349.95 crore valuation.
Accordingly, SBI became the fifth most valued company on the BSE.
In the ranking of top 10 most valued firms, Reliance Industries continued to rule the chart followed by Tata Consultancy Services, HDFC Bank, ICICI Bank, SBI, Infosys, Life Insurance Corporation of India, Bharti Airtel, Hindustan Unilever and ITC.
Gautam Chhaochharia appointed as UBS’s head of global markets in India (21-02-2024)
Chhaochharia began his stint at UBS as an analyst covering midcaps and became the head of research in 2013
Juniper Hotels IPO receives 11% subscription on first day of offer (21-02-2024)
The initial share sale of Juniper Hotels, which runs hotels under the 'Hyatt' brand, received an 11 per cent subscription on the first day of offer on Wednesday.
The category for Retail Individual Investors (RIIs) got subscribed 52 per cent while the quota for non-institutional investors received 6 per cent subscription, as per NSE data.
On Tuesday, Juniper Hotels said it has garnered Rs 810 crore from anchor investors.
The Initial Public Offering (IPO) is entirely a fresh issue of equity shares worth Rs 1,800 crore and the price band is Rs 342-360 apiece.
Funds to the tune of Rs 1,500 crore will be utilised for repayment of debt availed by the company and subsidiaries -- Chartered Hotels Pvt Ltd and Chartered Hampi Hotels Pvt Ltd.
Besides, a portion of the proceeds will be used for general corporate purposes.
The hospitality firm had a portfolio of seven hotels and serviced apartments and operated 1,836 keys across the luxury, upper upscale, and upscale category of hotels across
Spike in new MF investors as bull run continues, scheme launches pick up (21-02-2024)
MFs add 1 million new investors in January, highest in nearly two years
NBCC receives in-principal approval of Greater Noida Authority (21-02-2024)
For development of unused and purchasable FAR
LTIMindtree signs MoU with Eurolife FFH (21-02-2024)
To establish Gen AI and Digital Hubs in Europe and India
Brigade Group signs joint development agreement with PVP Ventures (21-02-2024)
For a residential and resort project in Chennai
J K Cements completes acquisition of Toshali Cements (21-02-2024)
Additionally, the transfer of mining lease is subject to necessary statutory and regulatory approvals, which is likely to be completed within 18 months hereof.