Equity benchmark indices remained volatile in today's trade amid dull global cues. BSE Sensex ended the day with the gain of 167 points to 71,595 and Nifty 50 jumped marginally by 64 points to 21,782 on Friday. Banking stocks witnessed rally in trade today with shares of ICICI Bank, SBI, and Axis Band registering gains today. of Meanwhile, Paytm shares witnessed a decline of over 6% in trade today. Current market price of One 97 Communications Ltd shares on BSE is Rs 419.55 apiece. Banks and pharma stocks witnessed a rally in trade today.
Meanwhile, Paytm shares witnessed a decline of over 6% in trade today. Current market price of One 97 Communications Ltd shares on BSE is Rs 419.55 apiece. Banks and pharma stocks witnessed a rally in trade today.
In the early trade, Gift Nifty was down by 50 points, while Asian shares traded mixed despite gains in Wall Street overnight. In the previous session, the stock market witnessed a sharp decline as both Sensex and Nifty 50 ended at the day's low.
Despite the Reserve Bank of India (RBI) maintaining a status quo on its policy and upbeat growth estimates, market sentiment remained subdued, with financials playing a significant role in dragging down the indices.
The benchmark Sensex plummeted by 724 points, closing at 71,428, while the Nifty 50 tumbled 213 points to settle at 21,718. The Nifty Bank bore the brunt of the selling pressure, sliding 2%, along with the 1% fall observed in both Sensex and Nifty. The day witnessed a market breadth favouring declines, with an advance-decline ratio at 1:1.
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Feb 09, 2024, 3:54 pm IST
Top 5 Gainers and Losers Today
Source:NSE
Feb 09, 2024, 2:29 pm IST
IRCON International Net Soars 29%, Shares Plunge Over 2%
Mid cap construction sector public sector undertaking IRCON International shares plunged 2.21% on Friday despite declaring a healthy quarterly earnings and interim dividend. Board of Directors of IRCON International on February 9, 2024 declared an interim dividend of Rs 1.80 per equity share on the face value of Rs 2/- each for the financial year 2023-24. IRCON International announced a surge of 28.8% year-on-year (YoY) in its consolidated net profit to Rs 244.7 crore for Q3 FY24 as against Rs 190 in the corresponding quarter of Q3FY23.
Feb 09, 2024, 2:27 pm IST
Kesar India To Consider Bonus Share, Shares Hit Upper Circuit
Small Cap Company, operating in the industry of residential, commercial projects, Kesar India Ltd shares rallied 5.00% intraday today after the company informed on February 8 that it will consider issuance of bonus share on February 14, 2024. Kesar India shares hit 5% upper circuit and traded fresh 52-week high today. Kesar India has a market capitalisation of Rs 734.13 crore. Kesar India shares soared 180% in last 3-months. Check details below:
Kesar India To Consider Bonus Issue On Feb 14: As per the BSE filing of Kesar India dated February 14, 2024, “meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, February 14, 2024, inter alia,
1. To consider and approve the Unaudited Financial Results for the quarter ended December 31, 2023.
2. To consider and approve increase in Authorised Share Capital and alteration in Capital Clause “V” of Memorandum of Association of the Company.
3. To consider and approve of issue of Bonus Equity Shares.”
Feb 09, 2024, 2:00 pm IST
Sapphire Foods Reports Q3 Earnings
Sapphire Foods India's third-quarter financial outcomes reveal a dip in net profit, witnessing a decline of 72.7% at Rs 9 crore compared to the previous year's Rs 33 crore. However, the company experienced a positive uptick in revenue, showing an 11.6% increase at Rs 665.5 crore as opposed to the Rs 596.1 crore reported in the same period last year.
Feb 09, 2024, 1:43 pm IST
RVNL Shares Slip 8% On Disappointing Q3
Rail Vikas Nigam Ltd. (RVNL) witnessed a sharp decline of nearly 9% in its shares during Friday's opening trade following the release of its December quarter results. The state-run railway company faced a double blow as both net profit and revenue reported a decline on a year-on-year basis.
Feb 09, 2024, 1:19 pm IST
Max Healthcare To Acquire Alexis Hospital For Rs 412 Crore
Max Healthcare is set to acquire Alexis Hospital, based in Nagpur, for a sum of ₹412 crore. The prominent private healthcare provider disclosed in a stock exchange filing that this acquisition aligns with its strategic objective of expanding into the Western market and furthering its presence in tier-2 cities.
Feb 09, 2024, 12:58 pm IST
Escorts Kubota Shares Plunge By 10% Despite In-Line Q3
Escorts Kubota, the Haryana-based agricultural equipment giant, witnessed a sharp decline in its stock prices for the fourth consecutive session on Friday. The plunge was triggered by the company's unexpected projection of a 6-7% fall in industry volumes within the tractor segment for the current financial year, a contrast to its earlier claim of no change on a year-on-year basis. The market responded with an almost 10% drop, bringing Escorts Kubota shares to Rs 2,648.40 per share on the National Stock Exchange (NSE).
Feb 09, 2024, 12:31 pm IST
IRCTC In MoU With Uttarakhand Government For Tourists Trains
IRCTC has entered into a Memorandum of Understanding (MoU) with the Uttarakhand Government, facilitated by the Uttarakhand Tourism Development Board (UTDB), to manage Bharat Gaurav Tourist Trains. This collaboration involves IRCTC operating trains starting from various cities/stations across the country, destined for Uttarakhand. The initial agreement spans two years, with provisions for extension in subsequent years.
Feb 09, 2024, 11:58 am IST
PVR INOX Shares In Focus
At INOX EROS, Churchgate, PVR INOX today announced the opening of its first standalone IMAX theatre with laser technology, redefining the city's moviegoing experience. With INOX EROS, PVR INOX will have 253 screens spread over 53 locations, making it its fifth IMAX screen in Mumbai and its 23rd on its national circuit. This further solidifies the company's presence in Maharashtra. With 78 sites and 346 screens overall, the brand further demonstrates its dedication to providing viewers in the region with the best possible movie experiences.
Feb 09, 2024, 11:30 am IST
Rajnish Wellness Shares In Focus
Rajnish Wellness Limited (RWL) is offering a flat 25% discount on all branded medications delivered home in India, in addition to an exclusive Dava discount franchisee programme. The Rajnish Wellness Limited brand Dava Discount has launched a new franchisee shop named "Rina Medicare" in Kolkata, West Bengal, at the following address: 539, R.B.C. Road, and P.O. Hazinagar. The firm today announced the launching of one new medical store outside of Maharashtra. Kolkata. Dava Discount has established a pharmacy and chemist at the following PIN Code: 743 135.
Feb 09, 2024, 11:07 am IST
Max Healthcare Shares In Focus
Max Healthcare Institute Ltd. (MHIL) today announced the acquisition of 100% stake in Alexis MultiSpeciality Hospital Private Limited (Alexis) for an enterprise value of Rs 412 Crores. The hospital's current run rates for revenue and EBITDA are about INR 150 Cr and 25 Cr, respectively. The hospital is profitable and enjoys strong brand equity in the local market. With this acquisition, Max Healthcare's presence in Western India is further strengthened and all patients in the area will be able to get top-notch clinical treatment.
Feb 09, 2024, 10:36 am IST
Biocon Shares In Focus
A five-year partnership between Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, and Sandoz AG ('Sandoz') has been revealed today. Under the terms of the agreement, Sandoz will have the sole right to market, sell, and distribute biosimilars Bevacizumab (with a market value of AUD million2) and Trastuzumab (with a market value of AUD million1) in Australia. Under the terms of the agreement, Sandoz will distribute the Biocon Biologics brands, OGIVRI® (bTrastuzumab) and ABEVMY® (bBevacizumab), and assist patients in Australia in maintaining access to these medications, which were previously supplied by another pharmaceutical company.
Feb 09, 2024, 9:51 am IST
Rupee Falls 0.47 paise against US Dollar
Indian rupee continues to witness sharp decline against US Dollar for second day today. The Indian currency fell 0.47 paise against the US Dollar in morning trade.
Feb 09, 2024, 9:14 am IST
Pre-Market Opening
Prashanth Tapse, Senior VP (Research), Mehta Equities: A subdued to weak opening could be seen amid mixed trend in Asian indices and sluggishness in US equities. RBI Governor Shaktikanta Das’ hawkish tone raised bets that the MPC monetary policy will remain restrictive for longer. Amidst this backdrop, the technical landscape has again tilted in favor of bears but that said confirmation of weakness only below the 21557 mark and below the same the downside risk is seen at 21157. Nifty’s major hurdles continue to be at its all-time-high at 22127 mark.
Feb 09, 2024, 8:49 am IST
Market Outlook By Mr. Aditya Gaggar, Director of Progressive Shares
Banking and FMCG counters dented the market sentiments and pulled the Index lower to end the session at 21,717.95. On the daily chart, the Index has made a big negative candle but defended the level of 21,700 as well as 21DMA support, which can be considered as immediate support, while the upside seems to be capped at 21,900. In case of a decisive breakdown, the correction may extend to 21,500 while on the higher side, a convincing close above 22,100 is a must for resuming its uptrend. BankNifty is the main area of concern as it has breached its strong support level and now the immediate support is placed at 44,500 while the upside is capped at 45,600. Except for the PSU Banking space, all other sectors are giving signs of a short-term reversal (profit booking correction).
Feb 09, 2024, 8:24 am IST
Stocks To Buy Today
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher recommends buying three stocks. 1. BUY GRSE cmp 892 Stop Loss 877 Target 937. 2. BUY MIDHANI cmp 485.25 Stop Loss 477 Target 507. 3. BUY OBEROI REALTY cmp 1345.30 Stop Loss 1325 Target 1385.
Feb 09, 2024, 8:24 am IST
Nifty, Bank Nifty Spot Index On February 9
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher expects Nifty Spot Index to have support and resistance at 21,600 and 21,850 respectively. Bank Nifty's support and resistance is seen at 44,500 and 45,500 respectively.
Feb 09, 2024, 8:24 am IST
Market Previous Session
The benchmark Sensex plummeted by 724 points, closing at 71,428, while the Nifty 50 tumbled 213 points to settle at 21,718. The Nifty Bank bore the brunt of the selling pressure, sliding 2%, along with the 1% fall observed in both Sensex and Nifty. The day witnessed a market breadth favouring declines, with an advance-decline ratio at 1:1.
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