Business

Markets extended their southward journey this week owing to the hawkish comments from the RBI’s MPC minutes, which suggested that a premature pause in rate tightening would be a costly policy error at this juncture. Selling was further…

Nifty selloff intensified on Friday after the 50-pack index breached its crucial support of 18,000 level and that with a gap-down opening. The 50-pack index tested sub-17,800 levels during the session and ended up forming large bearish…

Indian equity benchmarks took a sharp plunge on Friday, extending their fall for the fourth straight session. The BSE barometer Sensex crashed 981 points or 1.61 per cent to close at 59,845, while the broader NSE Nifty moved 321 points or…

The year 2022 has been nothing but eventful for bond markets. The year was marked by the rise in inflation followed by an increase in repo rate by the Reserve Bank of India (RBI) to tame inflation. The direct result of the rise in key rates…

Shares of Adani Wilmar slumped on Friday, extending their fall for the eighth straight session. The stock dived 9.95 per cent to hit an intraday low of Rs 497.55 over its previous close of Rs 552.50, mirroring steep losses in the domestic…

Seven Adani Group stocks have lost a combined Rs 1.70 lakh crore in market capitalisation (m-cap) amid a four-day selloff in the broader market. Adani Wilmar, Adani Power and Adani Transmission have led the fall in percentage terms, data…

Shares of Hindalco Industries were trading nearly 4 per cent lower in Friday's trade amid across-the-board selling in the metals space. JM Financial has upped the price target on this scrip marginally to Rs 530 level from Rs 525 earlier as…

One of the biggest wealth creators of the past decade just dropped over 60 per cent on Dalal Street in the ongoing calendar year till December 22. Shares of the company cracked to Rs 707.80 on December 22, 2022 from Rs 1,888.45 on December…

Domestic brokerage Anand Rathi has upped its target on Arvind Fashions to Rs 567 from Rs 516, as it sees it as a rerating candidate. Arvind Fashions, Anand Rathi noted, completed its business reset in FY20-FY21 and has seen an upswing in…

Select brokerages have come up with updates on their tracked stocks following the recent stock-specific developments. They included Reliance Industries, JSW Steel, PB Fintech, Jubilant Food and Sundaram Finance have seen brokerages updating…

Shares of Adani Power slumped in Friday's trade to hit lower circuit for the third consecutive session. The stock plunged 5 per cent to settle at Rs 262.25 over its previous close of Rs 276.05. A total of 8.79 lakh shares changed hands. The…

Domestic stocks fell for fourth straight session on Friday, with the BSE Sensex falling nearly 700 points and the NSE Nifty slipping below the psychological mark of 18,000. The market breadth has been pretty weak in the last couple of…

Shares of Droneacharya Aerial Innovations made a stellar listing on Friday, as the scrip got listed at Rs 102 on BSE, a 88.89 per cent premium over its issue price of Rs 54. With this, the company joined the list of top 2022 SME listings,…

The Rs 388 crore IPO by Radiant Cash Management Services will open for public subscription on Friday. Ahead of its IPO, the company allotted 1,17,55,681 shares to anchor investors at Rs 99 apiece, fetching Rs 116.38 crore. The IPO comprised…

Mainboard IPO Landmark Cars may list at 2-3 per cent discount to its issue price while that of Abans Holdings is likely to see a muted listing premium on Friday, grey market trends suggest. SME IPO Droneacharya Aerial, on the other hand,…

Wall Street's major averages closed lower on Thursday with technology-heavy Nasdaq's 2% drop leading losses as investors worried that data showing a resilient economy would lead the US Federal Reserve to keep hiking interest rates for…

Shares of Tanla Platforms fell on Thursday, extending their losing run to 6 per cent in two straight sessions. The fall was largely in line with the weak market sentiment. The stock settled the day 2.91 per cent lower at Rs 707.80 over its…

Jefferies on Thursday said an investment in REC (formerly Rural Electrification Corporation) will be introduced in its India long-only equity portfolio, with a 4 per cent weighting. This, the foreign brokerage said, will be paid for by…

Semiconductor maker Micron announced Wednesday that it would reduce its headcount by about 10% in 2023, in the latest example of a technology industry slowdown affecting employment.Shares of Micron fell more than 1% in extended…

Benchmark indices closed lower on Thursday led by losses in capital goods, auto and consumer durables shares. Sensex ended 241 points lower at 60,826 and Nifty dipped 72 points to close at 18,127. Market fell for third straight session…

Shares of Landmark Cars will make their market debut on December 23, Friday. The grey market premium (GMP) of the IPO stood at Rs (minus)15 today, implying a negative listing for the company engaged in the automotive retail business.  The…

At least a dozen BSE PSU index constituents including metals producers and oil & gas companies, dropped over 10 per cent in Calendar 2022 that was marked by a comeback of PSU stocks. Some of these stocks may stage a recovery ahead,…

DroneAcharya Aerial Innovations, which generated a whopping 262 times subscription to its SME initial public offer, looks all set to deliver a strong listing gain on its market debut on BSE's SME platform. Despite weakness in the secondary…

Shares of Adani Wilmar have more than doubled since their listing, outperforming the benchmark indices and its sectoral peers in 2022. The shares of Adani Wilmar listed at a 3.91% discount at Rs 221 to their issue price on February 8, 2022.…

Shares of IOL Chemicals & Pharmaceuticals (IOLCP) extended their winning run for the third straight session in Thursday's trade. The stock jumped 6.71 per cent to hit a day high of Rs 426.25 over its previous close of Rs 399.45 despite…

Shares of Mphasis are down 42 per cent in 2022 so far while that of Venus Pipes have rallied 109 per cent during the same period. Apollo Hospitals has fallen 4 per cent this calendar, underperforming the broader market that gained 3 per…

Shipbuilder Mazagon Dock and rail infrastructure stock Rail Vikas Nigam are among eight BSE PSU index constituents that delivered over 100 per cent returns to investors in a year marked by PSU overperformance over the broader market after a…

Shares of Lyka Labs surged in Thursday's trade after the drugmaker inked a pact to buy animal healthcare business from Agilis Healthcare. The stock continued to climb for the second straight session today despite an overall weakness in the…

The initial public offering (IPO) of Elin Electronics received 1.06 times subscription on the final day of bidding on Thursday. The initial share sale got bids for 1,48,27,260 shares against 1,42,09,386 shares on offer by 10:48 am today, as…

Balkrishna Paper Mills jumped over 10 per cent in Thursday's trade to take its four-day winning gains to 71 per cent, even as the company management said it is not aware of any material development that requires stock exchange filings. The…