Stock Market LIVE: Sensex down 200 pts; Paytm sinks 5%, Delhivery dips 3%

ALERT:: Midhani secures Rs 357 cr order; stock rallies 4%

Mishra Dhatu Nigam (MIDHANI) has secured an order of Rs 357 crore. With this, the order booking position for FY24 now stands around Rs 1,100 crore. The open order position of MIDHANI as on date is around Rs 1,750 crore, the company said in an exchange filing.

ALERT:: Coal India capex grows 7.6% in FY24 so far; stock down 1%

Coal India’s capital expenditure increased by Rs 741 crore in eight months ended November FY2024 to Rs 10,492 crore – up 7.6 per cent compard to Rs 9,751

crore in the corresponding period last year, the company said in an exchange filing.

UltraTech hits new high, nears Rs 10,000-mark; stock up 6% in two days

A sharp surge in the stock price has seen the market capitalisation of this Aditya Brila Group firm near the Rs 3 trillion mark, BSE data shows. READ MORE

USFDA issues Form 483 with 5 observations to Torrent Pharma’s Guj unit

Torrent Pharmaceuticals Ltd on Tuesday said the US health regulator has issued Form 483 with five procedural observations after inspecting its oral manufacturing facility situated at Bileshwarpura in Gujarat. Read

Zomato looks to venture into catering business to expand market share

As part of a broader strategy to service large orders, food delivery major Zomato aims to venture into the catering business by employing its existing network of restaurant partners, according to a report by The Economic Times (ET).  

 

Rakesh Ranjan, chief executive for food delivery, was quoted as saying that despite concerns about the potential impact on profitability, Zomato is also looking to add more offerings to its loyalty programme, Gold. Read

US inflation likely cooled again last month as Fed prepares to assess rates

This year’s steady slowdown in US inflation likely continued in November, though the latest data may also point to steadily higher prices in some areas of the economy.

 

Tuesday’s inflation report from the Labor Department is expected to show that businesses kept overall prices unchanged for a second straight month. Read

Stock of this IT firm soars 55% in one month; up 141% from issue price

Shares of Netweb Technologies India hit a record high of Rs 1,206.50, as they rallied 10 per cent on the BSE in Tuesday’s intra-day trade in an otherwise subdued market. In past two trading sessions the stock has surged 21 per cent, while in the last one month it has soared 55 per cent. In comparison, the S&P BSE Sensex was down 0.01 per cent at 69,918 at 10:58 AM. Read

Disney, Reliance Industries close in on deal to merge India media ops

In order to advance with plans to merge their India-based media operations, Walt Disney and Reliance Industries Ltd (RIL) are finalising details of a non-binding term sheet, according to a report by The Economic Times (ET). Read

TCS hits 52-week high; extends rally post closure of share buyback

Shares of Tata Consultancy Services (TCS) hit a 52-week high at Rs 3,699, up nearly 2 per cent on the BSE in Tuesday’s intra-day trade, thus extending its rally after closure of share buyback.

 

The stock of information technology (IT) giant was quoting higher for the eight straight trading day. Thus far in the month of December, TCS has gained 6 per cent. It surpassed its previous high of Rs 3,680 touched on October 9. Read

ALERT :: Hindalco to set up battery foil manufacturing facility in Odisha

2 sovereign gold bond tranches in the offing: How do SGBs differ from GMS?

Opinion: Desperate retail investors drive India’s futures and options craze

An uncontrolled popular urge to speculate in financial markets is giving regulators a headache everywhere. It is especially worrying in India, where trading in futures and options is now more than 400 times bigger than the underlying cash-market turnover. This is a slow transfer of wealth from the real economy to a financial elite, the full impact of which may only be felt when it’s too late to stop it. Read

This asset has beaten others hands down in 2023 with a rise of 165%

A rise of 165 per cent calendar year-to-date (CYTD) to around $44,000 levels has seen Bitcoin beat other asset classes like equities and gold hands down in 2023. Frontline equity indices across the globe such as the S&P BSE Sensex, Nifty50, S&P BSE Smallcap index, US’ NASDAQ, Japan’s Nikkei 225, France’s CAC 40 and Korea’s KOSPI have returned 12 per cent to 43 per cent during this period. Read

Dixon surges 13% in 2 days; hits new high on winning contract from Lenovo

Shares of Dixon Technologies (India) (Dixon) hit a new high of Rs 6,764 as they rallied 6 per cent on the BSE in Tuesday’s intraday trade after the company’s wholly-owned subsidiary Padget Electronics won a contract from Lenovo to manufacture laptops and notebooks under the Production-Linked Incentive (PLI) 2.0 Scheme. Read

J&K Bank launches QIP to raise Rs 750 crore; stock rallies 7%

The lender launched its qualified institutional placement to raise Rs 750 crore. The floor price for the QIP is set at Rs 112.66 per share, a 10 per cent discount to last close.