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[hfe_template id='11223'] [ad_1] Indian benchmark equity indices, Sensex and Nifty50, opened with fresh record highs on Monday, led by index heavyweight Reliance Industries and banking stocks. The BSE Sensex was trading 321 points, or 0.42%, higher at 77,014. The Nifty50 was up 110 points, or 0.47%, trading at 23,400 around 9:19 am. This is the first time that Sensex has hit the 77,000 mark. Reliance Industries, Axis Bank, Power Grid, SBI, and Kotak Mahindra Bank emerged as the leading contributors to the Sensex's gains in early trade. However, Infosys, TCS, HCL Tech, and Tech Mahindra exerted downward pressure on the index. Barring Nifty IT, all sectoral indices opened higher. Nifty IT fell 0.9% in early trade after strong U.S. monthly jobs data fanned worries of delayed rate cuts by the Federal Reserve. IDBI Bank witnessed a notable surge of 5.5% after receiving an income tax order that determined a refund of Rs 2,702 crore for the assessment year 2016-17. On the o...

[hfe_template id='11223'] [ad_1] Nifty Bank saw a near-5,000 points or 10% intraday fall on Tuesday as investors made mincemeat of the markets after poll trends showed a spirited fight by the INDIA alliance around half past noon against the exit polls which had given a thumping win to the Bharatiya Janata Party (BJP) led NDA alliance. These are trends and the final outcome could be different when the last vote is counted. Nifty Bank fell to the day's low of 46,077.85 with all 12 stocks in the index trading in the red. Index heavyweights HDFC Bank and ICICI Bank were among the top three laggards and behind Reliance Industries (RIL) to have triggered the downfall. The banking gauge ended at 46,928.60, down by 8%. State-run State Bank of India (SBI) also contributed to the downfall in good stead. SBI fell by a mammoth 19% to hit an intraday bottom of Rs 732. The counter which crossed the market capitalisation of Rs 8 lakh crore while hitting all time high saw its market...

[hfe_template id='11223'] [ad_1] Benchmark equity indices traded higher on Tuesday, tracking gains from Asian peers and driven by index heavyweights Reliance Industries, and banking stocks. The BSE Sensex was trading 114 points, or 0.15%, higher at 75,504. The Nifty50 was up 43 points, or 0.19%, trading at 22,976 around 9:19 am. Reliance Industries, L&T, ICICI Bank, SBI, and NTPC were the top contributors to the Sensex, while Bharti Airtel, Infosys, ITC, and TCS dragged the index down. Meanwhile, LIC shares surged 2.6% after the firm reported a net profit of Rs 13,782 crore in Q4 of FY24, which was up by 4.5% over Rs 13,191 crore reported in the corresponding period of the last financial year. Adani Energy Solutions shares rose nearly 3% after the firm said that its board has approved a fundraise of up to Rs 12,500 crore.Sector-wise, Nifty Metal rose 1.25%, led by National Aluminium, Hindustan Zinc, and Hindalco. Nifty Bank, Media, Pharma, Healthcare, and Oil & G...

[hfe_template id='11223'] [ad_1] Synopsis In its lifetime every midcap company sees some headwinds. There are many examples from history which show the difference between the companies which have been able to survive and grow even after all the trouble is that of the parent company. A company belonging to a strong industrial group which has a track record of handling many economic cycles in the past has a higher probability of surviving a bad phase and coming back on a growth path as compared to a company in the same line of business which does not have the backing of a strong parent. The reasons are simple, when that midcap company of a large group will see a tough time, at a group level there is management bandwidth in terms of both financial and human resources to help it over bad times. Look over the last two decades at how companies like Voltas, Tata chemicals, which at one point if time were mid sized companies because large and stable business. So, if one is looki...

[hfe_template id='11223'] [ad_1] The combined market valuation of six of the top-10 most valued firms eroded by Rs 1,73,097.59 crore last week, with HDFC Bank and Life Insurance Corporation of India taking the maximum hit in line with weak equities. Last week, the BSE benchmark tanked 1,213.68 points or 1.64 per cent. The market valuation of HDFC Bank slumped Rs 60,678.26 crore to Rs 10,93,026.58 crore. LIC's valuation tanked Rs 43,168.1 crore to Rs 5,76,049.17 crore. Reliance Industries faced an erosion of Rs 36,094.96 crore to Rs 19,04,643.44 crore from its market valuation. The market capitalisation (mcap) of ICICI Bank declined by Rs 17,567.94 crore to Rs 7,84,833.83 crore, and that of State Bank of India went lower by Rs 11,780.49 crore to Rs 7,30,345.62 crore. ITC's valuation dipped by Rs 3,807.84 crore to Rs 5,40,838.13 crore. However, the mcap of Hindustan Unilever climbed Rs 33,270.22 crore to Rs 5,53,822.16 crore. Tata Consultancy Services (TCS) added R...

[hfe_template id='11223'] [ad_1] Amid high volatility, the headline index Nifty ended with 1.3% gains on the weak-on-weak basis. It was laden with top action where over three dozen companies from large, mid and smallcap segments witnessed prominent block deals worth Rs 12,045 crore on screen which included both buying and selling action. In the large cap segment, 15 companies witnessed significant block deals on the screen which were worth Rs 6,046 crore led by Kotak Mahindra Bank with 29 block counts, totalling to Rs 1,310 crore. The next in line were Adani Ports and Special Economic Zone (Rs 1,114 crore), Bank of Baroda (Rs 853 crore), NTPC (448 crore), Canara Bank (Rs 422 crore), HDFC Bank (L&T, Rs 298 crore), Hindustan Unilever (HUL, Rs 239 crore) and Mahindra & Mahindra (M&M, Rs 200 crore). Others were, namely Reliance Industries (RIL), Tech Mahindra, United Spirits, Cipla, Bajaj Finance, Axis Bank and Havells India with block deals between Rs 190 crore ...

[hfe_template id='11223'] [ad_1] Tracking a rebound in global markets, Indian benchmark equity indices opened higher for the third straight session on Tuesday, led by financial and IT stocks, along with Reliance Industries, following the conglomerate's fourth-quarter profit estimates beat. The BSE Sensex was trading 314 points or 0.42% higher at 73,947. Nifty50 was trading at 22,426, up 90 points or 0.40% at around 9.22 am. Bharti Airtel, HDFC Bank, Reliance Industries, Infosys, Titan, and HCL Tech emerged as the top Sensex contributors, driving the index higher. Conversely, Power Grid, M&M, and ICICI Bank weighed on the index. Among individual stocks, Tejas Networks shares surged over 15% after the company reported consolidated profit after tax of Rs 147 crore in the March quarter versus a loss of Rs 11.5 crore year-on-year. Rallis India shares dipped by 3% in early trade after the company reported a net loss of Rs 21 crore in the March quarter. On the sectoral ...