WhatsApp Financial News

Domestic benchmark index NSE Nifty ended 97.71 points up at 22055.2, while the BSE Sensex closed 260.3 points up at 72664.47.

Capital Small Finance Bank is eyeing a 22-24% advances growth in FY25, double of the pace it achieved last fiscal while it is eying geographic expansion to support it. The Jalandha-headquartered lender is also planning a foray into Jammu with a couple of branches. «After raising growth capital, we are now poised to grow faster,» executive director Munish Jain told ET. «Last year our growth was subdued as we were highly leveraged. We were waiting for the growth capital, he said. Its gross advances rose just about 12% year-on-year to Rs 6,160 crore.

Bajaj Hindustan Sugar on Friday posted 31 per cent fall in consolidated net profit to Rs 90.56 crore during the fourth quarter of the 2023-24 fiscal on lower income. Net profit stood at Rs 130.91 crore in the same quarter of the previous financial year, as per the regulatory filing. Total income declined to Rs 1,870.27 crore during the January-March quarter of the 2023-24 fiscal, compared with Rs 2,053.87 crore in the year-ago period.

On the BSE, Intellect Design(down 14.54 per cent), Mahaan Foods(down 14.10 per cent), Suraj Ltd(down 13.14 per cent), Parmax Pharma(down 11.52 per cent) and Gujarat Intrux(down 10.30 per cent) stood among the top losers in today's trade.

NCP leader Praful Patel on Friday took oath as member of the Upper House of Parliament in presence of Rajya Sabha Chairman Jagdeep Dhankhar. Patel was declared elected unopposed to the Rajya Sabha on February 21. His fresh term as Rajya Sabha member began in April this year. «An immense honor to take the oath as a Rajya Sabha MP today, in the esteemed presence of the honorable Vice President, Shri Jagdeep Dhankhar Ji,» Patel said in a post on X. The NCP leader described the oath-taking ceremony as a «moment filled with solemnity and commitment to serve the nation.»

National Company Law Tribunal (NCLT) has admitted listed firm India Steel Works Ltd under the insolvency resolution process in an application filed by its operational creditor Stecol International Pvt Ltd. The tribunal has also appointed Vallabh N Sawana as the interim resolution professional (IRP). India Steel Works has said in its stock exchange filing that it is in the process of filing an appeal at the National Company Law Appellate Tribunal (NCLAT) for urgent relief in the matter. “This bench hereby prohibits the institution of suits or continuation of pending suits or proceedings against the corporate debtor (India Steel Works) including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority,” said the division bench of judicial member Reeta Kohli and a technical member Madhu Sinha in its order of May 8.

Indian Oil Corporation Ltd. traded at Rs 158.25 on BSE at 12:32PM (IST) on Friday, up 0.98 per cent from previous close. The scrip quoted a 52-week low price of Rs 83.35 and a high of Rs 196.8.

stocks has come despite worsening fundamentals, while India is delivering solid profits, Citigroup Inc. strategists wrote, downgrading China and upgrading India in emerging market allocation. “China’s recent rally has occurred despite weakening fundamentals; we downgrade to neutral,” strategists including David Groman and Beata Manthey wrote in a note dated May 10. It upgraded India to overweight on strong earnings momentum and projected growth.

Bharat Forge Ltd. traded 0.28 per cent higher in Friday's session at 11:21AM (IST). The stock opened at Rs 1421.65 and has touched an intraday high and low of Rs 1437.05 and Rs 1413.25, respectively, during the session so far. The stock quoted a 52-week high of Rs 1463.3 and a 52-week low of 753.1. About 28,289 shares changed hands on the counter so far.

On the BSE, Intellect Design(down 12.71 per cent), Mahaan Foods(down 11.54 per cent), Mitshi India (down 10.00 per cent), Vrundavan Plantation(down 10.00 per cent) and Ramgopal Poly(down 9.80 per cent) were among the stocks that plunged over 5 per cent during the session.

Domestic benchmark index NSE Nifty gained 71.6 points to 22029.1, while the BSE Sensex traded 149.78 points up at 72553.95.

Simbhaoli Sugars Ltd.(up 1.70%), Magadh Sugar & Energy Ltd.(up 1.28%), Rajshree Sugars & Chemicals Ltd.(up 1.15%), Mawana Sugars Ltd.(up 1.10%), Avadh Sugar & Energy Ltd.(up 0.98%), Dhampur Sugar Mills Ltd.(up 0.98%), KM Sugar Mills Ltd.(up 0.96%), Bajaj Hindusthan Sugar Ltd.(up 0.95%), Kothari Sugars & Chemicals Ltd.(up 0.87%) and DCM Shriram Industries Ltd.(up 0.77%) were among the top gainers.

Page Industries Ltd. gained 0.53 per cent to Rs 34500.0 in Friday's trade as of 11:06AM (IST). The stock hit a high price of Rs 34705.6 and low of Rs 34175.2 during the session.

Miss USA pageant? Days after 72nd Miss USA Noelia Voigt stepped down citing personal mental health as the reason, Miss Teen USA 2023 UmaSofia Srivastava has quit. The New Jersey native took to Instagram Wednesday to announce her decision. She said that she was stepping down from Miss USA because «my values no longer fully align with the direction of the organization.»

global peers, Indian benchmark equity indices opened higher on Friday, led by auto and energy stocks. The BSE Sensex was trading 270 points higher at 72,674, while the Nifty50 was trading at 22,051, up 94 points, around 9:33 a.m.

(This story originally appeared in on May 10, 2024)

Proximus is aiming to double its revenue from the digital communications business to $3 billion and operating margins to 15% over the next 3-4 years after buying Route Mobile in India’s biggest in-bound FDI deal in the domestic cloud communications industry. “We are extremely excited about the synergies emerging out of this deal, that is, leveraging Route Mobile’s India success story to grow our communications business in USA and Europe markets, while also taking our affiliate company Telesign’s digital fraud prevention solution to enterprises in India,” Guillaume Boutin, CEO, Proximus, told ET Thursday. Proximus has completed the acquisition of 57.56% of RML’s shares held by promoters for EUR 643 million (Rs 5,922 crore) in cash.

Akshaya Tritiya, also known as Akti or Akha Teej, is an Indian festival celebrated on the third lunar day (tithi) of the bright half (Shukla Paksha) of the month of Vaisakha. The term 'Akshaya' translates to 'never diminishing', and it is believed that buying gold on this day ensures unending wealth. Best Time to Buy Gold on Akshaya Tritiya 2024 Gold holds significant value in Indian culture, symbolizing wealth and purity. Purchasing gold on Akshaya Tritiya is considered auspicious and is believed to bring blessings and symbolize boundless prosperity. The best time to buy gold on Akshaya Tritiya in 2024 is from May 10, 2024, at 05:33 AM to May 11, 2024, at 02:50 AM.

Sebi) has proposed to reduce the trading lot size of privately placed infrastructure investment trusts (InvITs) to ₹25 lakh from the existing ₹1 crore. «The proposal will help in increasing the liquidity of privately placed InvIT units by allowing a broader base of investors to participate in the market and promote diversification of investment portfolios, enabling investors to better manage risk,» Sebi said in a discussion paper on Thursday.

Equity markets buckled under relentless selling pressure on Thursday as investors turned risk averse in the ongoing poll season and further lightened their equity exposure to avoid being caught off guard. «We expect this volatility to continue in the near term in the absence of any major positive trigger. Now till Nifty holds below 22000 zones, weakness could be seen towards 21700,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

Tata Motors, Bank of Baroda, Cipla, BPCL, Manappuram Finance among others will be in focus due to various news developments and quarterly earnings. Tata Motors, Bank of Baroda, Cipla Shares of Tata Motors, Bank of Baroda and Cipla will be in focus as the companies will announce their fourth quarter results today.