Sensex ended the day with the gain of 13 points to 81,711 and Nifty jumped 7 points to 25,017 on August 27, 2024. Nifty Bank zoomed 130 points to 51,278 and Nifty Midcap surged 289 points to 59,220 on Tuesday. Shares of Tata Investment Corp hit 20% upper circuit after BSE and NSE put the securities of Tata Investment under the long-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to alert investors about high volatility in share prices.
Datamatics Global Services Ltd shares today hit 20% upper circuit after the company informed BSE that it has inked an alliance with Microsoft to build AI solutions through Copilots. Current market price of Datamatics Global Services shares on BSE is Rs 673.20 per share. Datamatics Global Services shares today hit 20% upper circuit and surged more than 18% in last 1-week and 2-weeks.
Earlier, the Indian stock markets opened on a flat note, despite receiving mixed cues from global markets. The Sensex edged up by 11.28 points or 0.01% to 81,709.39, while the Nifty saw a modest rise of 5.40 points or 0.02% to 25,016.00. In the broader market, 1,663 shares advanced, 832 shares declined, and 124 shares remained unchanged.
IT stocks led the charge, riding on the surge seen in the Nasdaq. Real Estate and Metal stocks also posted gains. The rally in Metal stocks was not solely driven by interest rate factors but was supported by other underlying dynamics. Meanwhile, brokerage firm Jefferies highlighted that technical factors were fueling the IT rally, even as earnings per share (EPS) cuts loomed over most companies.
The Nifty Bank, however, remained in a "neither here nor there" zone. Although it ended the day over 200 points higher, it underperformed the Nifty. The index managed to close above 51,000 but failed to sustain levels above 51,250. With the Financial Services index set to expire on Tuesday, all eyes will be on the Nifty Bank to see which direction it steers the broader market in the coming sessions.
LIVE Feed
Aug 27, 2024, 3:21 pm IST
FIIs Ebisu Global Opportunities Fund, Minerva Ventures Fund Pick Up Stake In Rama Steel Tubes
Rama Steel Tubes Ltd. is a pioneer and leading manufacturer in steel tubes & pipes and G.I. pipes in India with nearly five decades of experience. As per bulk deal data available on NSE, Ebisu Global Opportunities Fund Ltd. and Minerva Ventures Fund have picked up stakes in Rama Steel Tubes Ltd. Both funds hold stakes in other notable companies.
Recently, the company announced that its board approved the Incorporation of a defence-related wholly-owned subsidiary with the proposed name "Rama Defence Pvt. Ltd." The proposed wholly-owned subsidiary to be incorporated in India shall carry out business in the field of the Defence Sector.
Earlier, the company had announced that it is strategically well-positioned to leverage strong domestic steel demand by increasing a Manufacturing Capacity ~ AT ANANTPUR, ANDHRA PRADESH through its Wholly Owned Subsidiary "Lepakshi Tubes Private Limited".
Aug 27, 2024, 3:21 pm IST
VE Commercial Vehicles Signs Pact With Baidyanath LNG For Deployment of 500 LNG Trucks
Volvo Eicher Commercial Vehicles (VECV) on Tuesday said it has signed an initial pact with Baidyanath LNG Private for the deployment of 500 LNG trucks, a move which would help in developing green trucking routes and scaling up the LNG Corridor in India. As part of this joint collaboration, Union Minister for Road Transport and Highways Nitin Gadkari flagged off Eicher Pro 6055 LNG trucks at the Baidyanath LNG Private Limited's newly-inaugurated facility in Nagpur, VE Commercial Vehicles said in a statement, according to a PTI report. The facility inaugurated by Gadkari on Monday, is the third LNG facility by LNG Baidyanath in the city. in 2021, the 104-year-old Ayurveda brand Baidyanath launched the country's first private Liquified natural gas (LNG) station in Nagpur. Under terms of the initial pact, which will be further detailed in definitive agreements, the creation of the LNG fleet will facilitate the development of the LNG station network across various strategic locations in Central India, VE Commercial Vehicles Ltd said.
Aug 27, 2024, 2:53 pm IST
Premier Energies IPO: Solar Module Maker's Public Issue Fully Subscribed On Day 1
Premier Energies Limited, a player in the solar energy sector, has officially launched its much-anticipated Initial Public Offering (IPO) on D-Street today, August 27. The IPO, which is set to close on August 29, has created a buzz among investors, underlined by a strong grey market premium and considerable early subscription figures. The IPO is being offered within a price band of Rs 427 to Rs 450 per equity share, each with a face value of Rs 1.
The Premier Energies IPO is divided into two key components, a fresh issue of equity shares amounting to Rs 1,291.4 crore and an Offer for Sale (OFS) where existing shareholders will sell up to 3.42 crore shares, potentially raising Rs 1,539 crore at the upper price band. The OFS includes significant divestments by South Asia Growth Fund II Holdings LLC, South Asia EBT Trust, and the company's promoter, Chiranjeev Singh Saluja.
Aug 27, 2024, 2:38 pm IST
Datamatics Partners With Microsoft For AI Solution, Shares Hit 20% Upper Circuit
Datamatics Global Services Ltd shares today hit 20% upper circuit after the company informed BSE that it has inked an alliance with Microsoft to build AI solutions through Copilots. Current market price of Datamatics Global Services shares on BSE is Rs 673.20 per share. Datamatics Global Services shares today hit 20% upper circuit and surged more than 18% in last 1-week and 2-weeks. The company has a market capitalisation of Rs 3,973.88 crore. Datamatics Global Services shares offered 123% returns in last 2-years.
Datamatics Global Services Partners With Microsoft: According to the regulatory filing of the company dated August 27, 2024, “Datamatics, a global Digital Technologies, Operations, and copilot solutions focusing on process automation to accelerate business transformation for organizations. Datamatics has launched a Partner On-boarding Copilot available on the Microsoft Teams store which integrates Azure OpenAI with Datamatics Intelligent Automation Platform. With this new feather in the cap, Datamatics was recognized as one of the ISVs building an ISV custom copilot solution and they were featured in the Microsoft Build 2024 conference held in Seattle, USA, along with a prominent mention in the blog by Merav Davidson, Vice President, Industry AI from Microsoft.”
Aug 27, 2024, 1:53 pm IST
ClarityX Releases Inaugural District Potential Index 2024 Report
ClarityX releases inaugural District Potential Index 2024 report, identifying India’s high consumption propensity markets, powered by MapmyIndia’s map data and Mappls Pro suite of enterprise digital transformation solutions. The report shows that 60% of households with annual income above INR 5L are in the top 20% (~150) districts of India, and 2/3rd of the total districts above All-India District median are in the Western region - which also has the highest share of fastest growing districts, and much more. Clients across industry verticals can request a complimentary copy of the report, and benefit from bespoke insights derived from the report for their own business context, along with the wide-ranging Mappls Pro Suite of Enterprise Digital Transformation Solutions.
Aug 27, 2024, 1:37 pm IST
RailTel Corporation of India Ltd Has Received A Work Order From Eastern Railway
RailTel Corporation of India Ltd. has received the work order from Eastern Railway for Works amounting to Rs. 70,93,58,570 (Including Tax) for the implementation of UnifiedComm. Infra. Comprising LANInfra, IPexchange, VOlP based control comm. and IP-MPLSbased network over Eastern Railway. The time period by which order(s)/contract(s) is to be executed is 25th November 2025.
Aug 27, 2024, 1:16 pm IST
Happiest Minds Wins Gold And Silver At The Brandon Hall Group HCM Excellence Awards 2024
Happiest Minds Technologies Limited, a ‘Born Digital. Born Agile’, Mindful IT Company, today announced that it has been honoured with two prestigious accolades at the 17th Brandon Hall Group HCM Excellence Awards 2024. Happiest Minds won a Gold in Talent Acquisition for the ‘Best New Hire Onboarding Program’ - Data Engineering on Microsoft Azure and a Silver in Future of Work for the ‘Best Program for Upskilling Employees’ - Software Development Engineer in Test (SDET). These awards reinforce Happiest Minds' position as a leader in the IT industry, particularly highlighted by its partnership with StackRoute — an NIIT venture renowned for its excellence in tech education.
Aug 27, 2024, 12:53 pm IST
Datamatics Partners With Microsoft To Build AI Solutions
Datamatics, a global Digital Technologies, Operations, and Experiences Company, today announced that it has partnered with Microsoft to develop its own copilot solutions focusing on process automation to accelerate business transformation for organizations. Datamatics has launched a Partner On-boarding Copilot available on the Microsoft Teams store which integrates Azure OpenAI with Datamatics Intelligent Automation Platform. Rahul Kanodia, Vice Chairman and CEO of Datamatics said, ”We are thrilled to be named one of Microsoft's top ISV partners globally and to be highlighted in the “AI First Mover” Series. Microsoft Copilot and the Generative AI space offer significant opportunities for businesses to automate and unlock their untapped potential. Our collaboration with Microsoft is driven by a shared commitment to empower organizations worldwide. We will continue to introduce Copilot-based products and services to accelerate business transformation for our clients.”
Aug 27, 2024, 12:28 pm IST
Airtel & Apple Begin Strategic Partnership For Customers In India
Bharti Airtel brings the best of entertainment to Airtel customers in India with new, exclusive offers for Apple TV+ and Apple Music.. Airtel Xstream customers can explore the best of Hollywood and award‐winning content on Apple TV+ included with premium Airtel WiFi and Postpaid plans. Airtel users will have access to Apple Music. Wynk Premium users will receive exclusive offers from Airtel for Apple Music. Amit Tripathi, Chief Marketing Officer & EVP Customer Experience for Bharti Airtel said, “Apple and Airtel are natural partners who strive to bring excellence to customer experience. We also share the common vision of serving the entertainment needs of Indian users. Airtel offers a one stop shop to bring all content and entertainment through Airtel Xstream. This partnership with Apple will provide immense value to our customers since they will now have access to the best content and entertainment globally.”
Aug 27, 2024, 12:02 pm IST
Nifty Rallies Towards Record High
Nifty crossed the 25, 000.mark once again, marking gains for multiple days in a row and is now getting closer to breach the all time high of 25,078 milestone
Aug 27, 2024, 11:21 am IST
TCS Pace Studio Launches In Philippines To Accelerate Digital Innovation For Clients Across The Asia Pacific Region
Tata Consultancy Services (TCS), a global leader in IT services, consulting, and business solutions, has launched a state-of-the-art TCS Pace Studio in Manila, Philippines. This cutting-edge facility is designed for TCS to co-innovate with customers to develop tailored solutions for their unique business needs, boosting digital innovation in the Asia Pacific region. Located within TCS' expansive Panorama Tower office, TCS Pace Studio will showcase TCS’ innovative platforms like TCS AI WisdomNext, TCS TwinX, and TCS Zero Carbon Platform, leveraging emerging technologies like artificial intelligence, cloud computing, cybersecurity, and data analytics.
Aug 27, 2024, 11:16 am IST
India Gold Rates Today Slips Marginally
India Gold prices witnessed a slight decrease today. The price of 24-carat gold stands at Rs. 73,030/- per 10 grams, while 22-carat gold is priced at Rs. 66,940/- per 10 grams.
Apple Announces Kevan Parekh To Succeed Luca Maestri As CFO; Who Is The New Indian Origin CFO?
Apple Inc, the world-renowned tech giant, has announced a transition in its leadership that is set to take place at the beginning of 2025. Luca Maestri, Apple's long-serving Chief Financial Officer (CFO), will step down from his role on January 1, 2025, making way for Kevan Parekh, Apple's Vice President of Financial Planning and Analysis, to ascend to the position.
The Nifty market is currently experiencing a mixed performance. While the pharmaceutical and real estate sectors are showing gains of 0.75% and 0.22% respectively, the banking and energy sectors are dipping by 0.25% and 0.21%. Additionally, the Nifty FMCG and Auto indices are also trading lower today.
Aug 27, 2024, 10:15 am IST
Paytm Stocks recover 2% post clarification
One97 Communications, or Paytm saw over 2% rise in share price today after clarifying the Sebi show-cause notice issued to its founder and former board members. The company stated that this is not a new development and had already disclosed it in previous financial results.
Aug 27, 2024, 10:00 am IST
UltraTech Cement Gets 0 Million Through Sustainability-Linked Loan
UltraTech Cement has successfully raised 0 million via a sustainability-linked loan, with contributions from six participating banks.
Aug 27, 2024, 9:33 am IST
Market Opens Flat Amid Mixed Global Cues
On August 27, the Indian stock markets opened on a flat note, despite receiving mixed cues from global markets. The Sensex edged up by 11.28 points or 0.01% to 81,709.39, while the Nifty saw a modest rise of 5.40 points or 0.02% to 25,016.00. In the broader market, 1,663 shares advanced, 832 shares declined, and 124 shares remained unchanged.
Aug 27, 2024, 9:07 am IST
Indian Rupee Opens Flat
The Indian Rupee opened flat at 82.91 per US Dollar on Tuesday, maintaining its level from Monday's close of 83.90.
Aug 27, 2024, 8:46 am IST
GIFT Nifty Signals Weak Opening for Indian Markets
GIFT Nifty trends suggest a negative start for the broader Indian market, with an expected decline of 41 points or 0.17%. Nifty futures were trading around the 25,029 level.
Aug 27, 2024, 8:46 am IST
S&P 500 Slips as Nvidia Declines Ahead of Earnings Report
The S&P 500 closed lower on Monday, dragged down by a dip in AI giant Nvidia ahead of its upcoming quarterly earnings report. Investors also remained cautious, awaiting inflation data to gauge the Federal Reserve's future interest rate decisions. The S&P 500 fell 0.32%, ending the session at 5,616.84 points, while the Nasdaq dropped 0.85% to 17,725.77 points. In contrast, the Dow Jones Industrial Average edged up 0.16% to close at 41,240.52 points.
Aug 27, 2024, 8:25 am IST
Oil Prices Steady After Rally Amid Libya Supply Concerns
Oil prices held steady after a three-day surge, as concerns over potential disruptions in Libyan supply balanced against uncertain demand prospects. Brent crude remained above per barrel, having surged approximately 7% since Wednesday in its largest three-day gain since April last year. West Texas Intermediate hovered near . Libya's eastern government invoked force majeure—a legal provision allowing missed shipments—on all oil fields, terminals, and facilities, as it continues to struggle with its Tripoli-based rival for control of the nation's central bank and oil wealth.
Aug 27, 2024, 8:05 am IST
Asian Markets Waver Ahead of Nvidia's Earnings
Asian stocks traded within tight ranges as investors shifted their focus from the Federal Reserve's policy outlook to the highly anticipated earnings report from Nvidia Corp. later this week. Japanese and South Korean markets recovered slightly after early losses, with modest gains seen in Australia. Meanwhile, Hong Kong futures signaled a weak start, and US futures remained steady following a dip in major tech stocks that had weighed down Wall Street.
Click it and Unblock the Notifications
Sign in with Google