Page 12 - Markets

Paytm advances 5% on report that Sunil Mittal is eyeing stake in company

Meanwhile, Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, the Bloomberg reported

Uflex down 25% in 1 wk on tax raid report, hits lowest level since May 2021

Shares of Uflex India tumbled 15 per cent to Rs 366 on the BSE in Monday's intra-day trade

Sell-off spree continues in FPIs; withdraw Rs 2,300-cr from equities in Feb

Foreign investors have turned cautious and pulled out Rs 2,313 crore from Indian equities so far this month ahead of the release of Federal Reserve's latest meeting minutes. However, the pace of selling has come down compared to January, when Foreign Portfolio Investors (FPIs) took out Rs 28,852 crore. This was also the worst outflow in the last seven months, data with the depositories showed. Prior to that, they made a net investment of Rs 11,119 crore in December and Rs 36,238 crore in November. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said rising rates in the US might lead to more capital outflows from emerging markets including India. According to the data, FPIs withdrew a net amount of Rs 2,313 crore from Indian equities during February 1-24. "FPIs turned cautious ahead of the release of the minutes of FOMC meeting and on the back of series of disappointing economic data in the US, indicating slow pace of moderation in inflation. This fann

Nine of top 10 firms lose Rs 1.87 trn in mcap; HDFC Bank, RIL hit hard

Nine of the 10 most valued firms faced a combined erosion of Rs 1,87,808.26 crore in market valuation last week, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities. Last week, the BSE benchmark tumbled 1,538.64 points or 2.52 per cent amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows also dented investor sentiments. Barring ITC, all 10 firms, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, were the laggards. HDFC Bank's valuation declined by Rs 37,848.16 crore to Rs 8,86,070.99 crore at close on Friday. The market valuation of Reliance Industries fell by Rs 36,567.46 crore to Rs 16,14,109.66 crore. The valuation of TCS tumbled Rs 36,444.15 crore to Rs 12,44,095.76 crore and that of HDFC tanked Rs 20,871.15 crore to Rs 4,71,365.94 crore. The market capitalisation (mcap) of ICICI Bank fell by Rs 15,765.56 crore to Rs ...

Risks to the market rally are rising; oil stocks a good bet: Chris Wood

Energy-related stocks remain the best hedge against a Ukraine-triggered spike in energy / oil prices, Wood said

Adani firms continue to fall; some hit lower circuit intra-day trade limits

Most of the Adani Group firms continued to remain weak on Friday amid an overall bearish trend in the equity market. The stock of Adani Transmission fell 5 per cent, Adani Green Energy slipped 5 per cent, Adani Total Gas (5 per cent) and Adani Enterprises (4.98 per cent) on the BSE. Shares of Adani Power dipped 4.98 per cent, NDTV dropped 4.05 per cent and Adani Wilmar went lower by 3.35 per cent. However, Ambuja Cements advanced 2.45 per cent, Adani Ports climbed 1.24 per cent and ACC (0.03 per cent). Shares of eight Adani Group firms out of the ten listed entities had ended in the negative territory on Thursday. Adani Group firms had fallen sharply on Wednesday, with all the listed firms ending in the red. On Friday, the BSE Sensex fell 141.87 points or 0.24 per cent to settle at 59,463.93. In a bearish trend, the BSE benchmark has tumbled 1,855.58 points or 3 per cent since February 16. Adani Group stocks have taken a beating on the exchanges after US-based short seller Hinden

Crypto wrap: January Fed meet minutes pull Bitcoin back from six-month high

The minutes, released on Wednesday, said that the members believe "ongoing" rate hikes will be necessary

SpiceJet soars 15% as net profit jumps five-fold to Rs 107 crore in Q3

Despite a big jump in passenger traffic, business has continued to be impacted by high fuel prices and depreciating Rupee, the company said

GAIL India rallies 5% in weak market; hits 8-month high on heavy volumes

Gas transmission and trading volumes are likely to increase in FY24E with supplies coming from new sources, analysts say

Jindal Stainless (Hisar) fixes record date for merger with JSL; stock up 3%

JSHL Board approved merger of the company into Jindal Stainless with a swap ratio of 1: 1.95

Stocks to watch: Axis Bank, Zee Ent, SpiceJet, RIL, Bharat Forge, Alkem Lab

Stocks to watch: Zee Entertainment has been barred from the futures and options (F&O) segment of the NSE; Olectra Greentech has developed a hydrogen bus in technical partnership with Reliance Ind

Amid record aircraft orders, aviation remains a long-term play: Analysts

A linear profit growth is unlikely for the Indian aviation players as high oil prices hit the industry every two-three years

Disclosure gains

Sebi's proposals on listing norms would aid transparency

Sebi plans to make registration mandatory for ESG rating providers

Sebi proposes framework for ESG scoring parameters and rating providers in fresh consultation paper

Trading strategies for Bata India and Alembic Pharma by Mehul Kothari

BATA INDIA has been correcting from 1,950 without any meaningful bounce

Shipping Corporation soars 10% on govt's approval to demerger plan

The Ministry of Corporate Affairs has approved the revised demerger plan of Shipping Corporation of India, wherein Rs 1,000 crore will be transferred to the non-core assets

Zee Entertainment tanks 14% as NCLT admits company to insolvency resolution

The NCLT decision to begin bankruptcy proceedings has overshadowed Zee Entertainment's merger with Culver Max Entertainment (Sony)

HG Infra rises 4% on Rs 535 cr-order win from RVNL; stock up 30% in 3 mths

As per analysts at Centrum Broking, the stock of HG Infra has headroom to re-rate as the company is continuing to deliver on growth and monetisation targets

Sandur Manganese zooms 11% on approval to increase production

Sandur Manganese plans to start the operations at enhanced level of production from the next financial year

Exchanges reclassify Sameer Gehlaut's stake as 'public'; stock falls 5%

With the re-classification, the promoter shareholding in the company has been reduced to nil from 9.6 per cent