Market highlights: Sensex gains 496 pts, Nifty tops 25000

Stock market highlights on January 19, 2024: The S&P BSE Indices will be calculated on Saturday, January 20, 2024 , which is declared as a special trading day by the exchange

6:59 PM

Stock of this packaged foods company has zoomed 75% in 2 months

As per a Reuters report on Thursday, the Indian snacks maker Haldiram's is considering a majority stake in its listed rival Prataap Snacks, which is valued at $350 million. This is aimed to expand its presence in the potato chip market. 

6:58 PM

Stock of this packaged foods company has zoomed 75% in 2 months

As per a Reuters report on Thursday, the Indian snacks maker Haldiram's is considering a majority stake in its listed rival Prataap Snacks, which is valued at $350 million. This is aimed to expand its presence in the potato chip market.

6:58 PM

ALERT :: Glenmark Life Sciences signs Master Supply Agreement with a Japanese pharma company

Glenmark Life Sciences Limited has announced the signing of a Master Supply Agreement (MSA) with a Japanese innovator pharmaceutical company with global presence in Europe, United States and Asia.

6:58 PM

ALERT :: Zydus Worldwide DMCC has entered into an exclusive licensing and supply agreement with Synthon BV

Zydus Lifesciences Ltd. has announced that its wholly owned subsidiary, Zydus Worldwide DMCC, has entered into an exclusive licensing and supply agreement with Synthon BV for Palbociclib Tablets (a generic version of IBRANCE) for the US market.

6:57 PM

Asian Paints needs fresh coat as margin pressures build up in markets

While the Q3 volume show was slightly below expectations, the company’s operational and bottom line beat estimates, benefiting from the falling raw material costs. The stock ended the day with a decline of over 2 per cent at Rs 3,175 apiece.  The company reported a decorative paints volume growth of 12 per cent over the year-ago quarter, which was marginally below brokerage estimates and was led by double-digit expansion in the rural and urban markets.

6:57 PM

HUDCO rallies 14% on heavy volumes; zooms over 100% since November

At 09:56 am Friday, HUDCO was the top gainer on the BSE 500 index. It was up 13 per cent at Rs 155.35 as compared to a 0.83 per cent rise in the BSE Sensex. The average trading volumes on the counter jumped 1.5 times. A combined 65.66 million equity shares changed hands on the NSE and BSE.

6:56 PM

Multiple headwinds ahead for ICICI Prudential Life Insurance Company

The commission expense is due to the revamped commission structure. Unit-linked products recorded growth of 8.7 per cent Y-o-Y in the APE. The product mix seems skewed towards par products and unit-linked instead of non-par products.

6:56 PM

Corporate India on overdrive to celebrate Ram Mandir inauguration

As Ayodhya readies itself for the glittering, much-awaited consecration ceremony of the Ram Mandir on January 22, and as millions of pilgrims and devotees pour into the holy city for the momentous event, companies are rushing to do their bit and be a part of the mega celebrations.

Some are offering a part of their profits as donations, telcos are beefing up the number of cellular towers to ensure better connectivity, and there are those distributing jalebis and food platters.  

6:55 PM

Temple fever grips Indians, lifts travel demand and hotel bookings

Online travel portals are flooded with flight and train bookings, hotels teeming with requests for accommodation, and spiritual merchandise on e-commerce platforms is selling like hotcakes. As the consecration ceremony of Ram Mandir in Ayodhya on January 22 draws near, Indians across the country are putting their travelling boots on as the temple frenzy catches on.

6:53 PM

Aarti Ind jumps 13% in 2 days on winning long-term contract worth Rs 6K cr

Shares of Aarti Industries (AIL) rose 8 per cent on BSE to Rs 658.70 on in Friday’s intra-day trade amid heavy volumes. 

The average trading volumes on the counter jumped over four-fold. A combined 6.04 million equity shares of the company changed hands on the NSE and BSE.

6:52 PM

Sony Board to take call on $10 billion merger with Zee Entertainment today

Sony Group Corp has convened a board meeting scheduled for Friday to make a crucial decision regarding its $10-billion merger with Zee Entertainment Enterprises in India, according to a report by The Economic Times (ET). The merger, initially announced two years ago with the aim of creating the country's largest broadcast company, is under scrutiny due to strained negotiations and unresolved issues.

6:51 PM

Railway-related stocks rally up to 18%; IRFC m-cap crosses Rs 2 trillion

Shares of railway-related companies were on a roll and rallied up to 18 per cent on the BSE in Friday’s intra-day trade on heavy volumes amid expectation of higher budgetary allocation for Indian Railways in 2024-25 (FY24-25).

6:50 PM

ALERT:: UltraTech Cement Q3 consolidated net jumps 67%; stock up 2%

UltraTech Cement Q3 consolidated net profit rose 67 per cent to Rs 1,774.78 crore for the quarter ended December 2023 as against Rs 1,062.58 crore in the corresponding quarter a year ago. Total income increased 7.9 per cent YoY to Rs 16,880.45 crore.

6:50 PM

IndusInd Bank drops 3% as analysts see limited near-term upside post Q3

Despite a largely stable December quarter, investors booked profit in shares of IndusInd Bank (IIB) as an increase in slippages took them by surprise. Analysts, on their part, believe investors may, now, wait for actual delivery on slippage decline, potentially limiting near-term upside.  

6:49 PM

Reddit may launch IPO in March, nearly 3 years since its initial filing

Reddit is planning to launch its initial public offering (IPO) in March of this year after nearly three years since its initial filing in December 2021, according to a report by Reuters. The social media platform is planning to make the next steps in the following months and complete the process by the end of February, commence its roadshow in early March, and aims to conclude the IPO by the end of March.