Stock Market Live Updates: Market Erases Opening Gains To End Flat; Nifty Breaks Below 22,300

Indian stock markets concluded with a mixed performance amidst volatility on March 12. Notable gainers on the Nifty included HDFC Bank, TCS, LTIMindtree, Maruti Suzuki, and Eicher Motors, while Adani Enterprises, Cipla, Grasim Industries, Adani Ports, and SBI were among the top losers.

Across sectors, except for IT, all other indices closed in the negative territory, with the realty index witnessing a significant decline of nearly 3.3%. The PSU Bank and Media indices were down by 2% each, while capital goods, FMCG, healthcare, metal, and power indices experienced a 1% dip each. Moreover, the BSE Midcap index slipped by 1.3%, while the Smallcap index shed 2%.

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Mar 12, 2024, 3:34 pm IST

Market Erases Opening Gains To End Flat; Nifty Breaks Below 22,300

Indian stock markets concluded with a mixed performance amidst volatility on March 12. Notable gainers on the Nifty included HDFC Bank, TCS, LTIMindtree, Maruti Suzuki, and Eicher Motors, while Adani Enterprises, Cipla, Grasim Industries, Adani Ports, and SBI were among the top losers.

Mar 12, 2024, 3:26 pm IST

DroneAcharya Aerial Gets Order From Adani Group For DGCA Certified Drone Pilot Training

DroneAcharya Aerial Innovations Ltd has secured an order from the Adani Group for DGCA-certified drone pilot training services. The company announced on Tuesday that it has been awarded a substantial service order to provide Directorate General of Civil Aviation (DGCA) certified training for drone pilots. According to the filing submitted to the stock exchanges, this achievement represents a significant milestone in the integration of drone technology within major corporations, exemplified by the engagement with the Adani Group.

Mar 12, 2024, 3:19 pm IST

Ambuja Cements To Sell 2% Stake In Sanghi Industries

Ambuja Cements plans to divest a 2% stake in Sanghi Industries, as per SEBI's minimum public shareholding requirements. The promoter, Ambuja Cements, aims to commence the stake sale on March 13, 2024, and continue the process until February 6, 2025.

Mar 12, 2024, 2:33 pm IST

Jet Airways Insolvency Case

In the Jet Airways insolvency case, the National Company Law Appellate Tribunal (NCLAT) has provided clarity on the transfer of ownership dispute between the lenders and the consortium led by Jalan Kalrock (JKC). The NCLAT upheld the transfer of ownership to the successful resolution applicant, JKC, dismissing the lenders' plea challenging the transfer. The lenders claimed that JKC had failed to infuse funds into the airline as outlined in the resolution plan. However, the NCLAT appealed to both the lenders and JKC to collaborate and ensure the success of the resolution. As a directive, the NCLAT also instructed that employee dues be paid out of the Rs 350 crores infused by JKC in the first tranche. It's noteworthy that the NCLAT has reserved judgment on the ongoing dispute between the lenders' consortium and JKC over ownership transfer.

Mar 12, 2024, 2:07 pm IST

Ion Exchange Secures Contract From Maaden In Saudi Arabia

Ion Exchange has received a contract from Maaden, Saudi Arabia, a prominent mining company, to establish a Water Treatment Plant, which includes a Demineralization plant, with a contract value of approximately Rs 120 crores. The project is slated to be finished within one year from the date of the Letter of Acceptance.

Mar 12, 2024, 1:24 pm IST

Tata Investment Corp Appoints Savitha Narayanan As Chief Technology Officer

Tata Investment Corporation has named Savitha Narayanan as its new Chief Technology Officer, effective April 1, 2024. Additionally, Ankan Mondal has been reappointed as Chief Risk Officer from the same date. Following the resignation of Kersi Bhagat, Jenniefer Samuel has been appointed as the Head of Internal Audit.

Mar 12, 2024, 1:02 pm IST

SpiceJet Shares Plunge Up To 10% On Resignation Of 2 Senior Executives

SpiceJet witnessed a significant 9% decline in its shares as of March 12 following the resignation of two top executives. The Chief Operating Officer (COO) Arun Kashyap and Chief Commercial Officer (CCO) Shilpa Bhatia reportedly stepped down, leading to a 10% intraday drop in SpiceJet's stock. In response to these developments, the management stated that these resignations are integral to SpiceJet's strategic restructuring. Despite the executive changes, the company remains optimistic about substantial growth in both revenue and load factor.

Mar 12, 2024, 12:23 pm IST

Landmark Cars Gets EoI From Mercedes Benz India To Open Workshop

Landmark Cars has been approached by Mercedes-Benz India with an Expression of Interest (EoI) to establish a workshop in the Eastern region of Mumbai, Maharashtra.

Mar 12, 2024, 12:09 pm IST

Top 5 Gainers And Losers Today

Stock Market Live Updates

Mar 12, 2024, 11:46 am IST

RK Swamy Listing

RK Swamy Limited's much-anticipated initial public offering (IPO) fell short of expectations as it made a lacklustre debut on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Tuesday, March 12. The stock opened at Rs 250 on the NSE, a significant 13.19% below its issue price of Rs 288, while on the BSE, it debuted at Rs 252, down by 12.5%.

Mar 12, 2024, 10:43 am IST

Bitcoin hits new all-time high above ,000.

Shivam Thakral, CEO of BuyUcoin, India’s second-longest-running digital asset exchange. MicroStrategy purchased an additional 12,000 BTC for approximately 1.7 million in cash. This takes MicroStrategy's Bitcoin holdings to over 205,000 BTC. The crypto market continues to demonstrate remarkable growth and adoption worldwide.Bitcoin's price surpassed ,000 on Monday, creating a new ATH at ,800. The largest cryptocurrency now has a total market cap of .4T, surpassing silver to become the world's eighth most valuable property.

Mar 12, 2024, 9:51 am IST

ITC Stocks Fall 20% From Peak Amid Possible BAT Block Agreement

For the second day in a row, ITC's shares are down an additional 2.5 percent on Tuesday. Since its top on July 24, 2018, at Rs 499.7, the stock has decreased by 20%, as of today's loss.

Mar 12, 2024, 9:41 am IST

Rupee declines by 0.67 paise against US Dollar

Rupee witnessed fall of 0.67 paise against US Dollar in morning trade on Tuesday.

Mar 12, 2024, 9:23 am IST

British American Tobacco Stated That They were Getting Ready to Start the ITC Selldown This Week

Lucky Strike manufacturer British American Tobacco Plc is getting ready to start selling off a portion of its ownership in Indian partner ITC Ltd. as early as this week, according to people with knowledge of the situation. London-listed Regarding the possible block trade divestiture of around billion to billion of ITC stock, BAT has been in communication with Bank of America Corp. and Citigroup Inc. Approximately 29% of ITC is presently owned by BAT.

Mar 12, 2024, 9:09 am IST

Rupee Opens

The Indian rupee began the day slightly higher than Monday's finish of 82.76 per dollar, at 82.72.

Mar 12, 2024, 8:43 am IST

FII and DII Data

According to provisional NSE statistics, on March 11, domestic institutional investors (DIIs) bought equities worth Rs 3,238.39 crore, while foreign institutional investors (FIIs) net bought shares worth Rs 4,212.76 crore.

Mar 12, 2024, 8:32 am IST

Gopal Snacks IPO Subscribed 9 Times

Rajkot-based ethnic and western snacks maker Gopal Snacks has attracted decent demand for its initial public offering during March 6-11. The Rs 650-crore IPO has been subscribed 9.02 times on final day of bidding, as investors picked 10.81 crore equity shares against offer size of 1.19 crore shares. As per the subscription data published by exchanges, qualified institutional buyers took the lead to support the public issue, picking 17.50 times the allotted quota, followed by non-institutional investors who bought 9.5 times the portion set aside for them.

Mar 12, 2024, 8:25 am IST

The Board of Aditya Birla Capital Authorises Aditya Birla Finance's Merger with the Company

Aditya Birla Capital Limited's Board of Directors authorised the combination of its wholly-owned subsidiary Aditya Birla Finance Ltd. with the company on March 11 in order to "create a large unified operating NBFC". In an exchange announcement, the company stated that regulatory permissions are pending for the combination. According to the group's announcement, Vishakha Mulye will take over as MD and CEO and Rakesh Singh will take over as Executive Director and CEO (NBFC) of the combined firm once the plan goes into force.

Mar 12, 2024, 8:17 am IST

RVNL In Focus

State-owned business said on Monday that it has won a major project in the metro infrastructure development of Maharashtra, coming in at the lowest bid. RVNL won the contract with a Rs339.23 crore proposal. The contract for the "design and construction of elevated viaduct" as part of the Pune Metro Rail project extension has been given to RVNL by the Maharashtra Metro Rail Corporation Ltd.