Share Market Updates: Indian stock ended higher as mid-cap and small-cap rallied to all-time highs. Media, Realty, IT and PSU Bank indices gained in the session. Bank and Finance indices struggled.
India’s services activity continued to expand in August but at a slower pace than in July. The services purchasing managers' index (PMI) fell to 60.1 in August from 62.3 recorded in July, according to data released by S&P Global on Tuesday.
Shares were mostly lower Tuesday in Asia after U.S. markets were closed for the Labor Day holiday.
Chinese services data came in weaker than expected, dulling hopes for a rebound in China's lacklustre growth. A survey showed business activity in China's services sector increased at the slowest pace in eight months.
Small and mid-cap indices rallied as Sensex and Nifty ended 150 and 50 pts higher; Sun Pharma and ITC gained, while Ultratech Cement dragged
Indian shares rose on Tuesday despite negative cues globally. The rally was led by realty firms on rising property registrations, while the more domestically focussed mid-caps and small-caps outperformed the blue-chips and hit fresh record highs. Media and IT shares also climbed.
The Nifty 50 index gained 46 pts to close at 19,574, while the S&P BSE Sensex advanced 150 pts to end at 65,780. Eleven of the 15 Nifty sectoral indexes logged gains.
Media index climbed more than 2%, while Realty, Pharma, IT, and PSU Bank also ended with decent gains. Bank, Auto and Finance indices ended in the red with marginal losses.
Apollo Hospitals and Sun Pharma topped the stock charts, followed by ITC, Coal India and LTIMindtree. Ultratech, Dr Reddy's, SBI Life were among the top laggards and shed around 1.5% each.
Global equities fell on Tuesday as weak service sector data rekindled worries over China's sputtering post-pandemic economy, while Australia's central bank kept interest rates unchanged, pushing the Australian dollar lower.
Japanese stocks closed at their highest levels in a month even as profit-taking emerged as the Nikkei index rose afresh above the key 33,000 mark and speculation about new share sales also weighed on sentiment. The Nikkei 225 share average ended 0.3%. The broader Topix blipped 0.17% higher.
China stocks closed lower after a survey showed that domestic services activity expanded at the slowest pace in eight months in August and as optimism spurred by Beijing's latest stimulus measures also appeared to lose its initial euphoria.
China's blue-chip CSI 300 Index and the Shanghai Composite Index dropped 0.7% each at market close. Hong Kong's Hang Seng Index and the Hang Seng China Enterprises Index lost 2.1% each.
European equities fell at open as disappointing China data added to concern over the nation’s fragile economic recovery, weighing on stocks strongly exposed to the market.
London's main stock indexes opened lower on Tuesday after subdued economic data from China dented global sentiment, while equipment rental firm Ashtead's shares slumped on weak revenue outlook.
Sensex Today Live | Share Market Updates: Pepperfry: Co-founder Ashish Shah becomes CEO of the furniture startup
Following the untimely demise of Pepperfry's former CEO Ambareesh Murty, the company has elevated co-founder Ashish Shah to the position of CEO. Ashish had co-founded the company alongside Murty in 2021. Murty, 51, passed away last month in Leh after suffering a cardiac arrest.
In a media statement, Pepperfry said, "As the erstwhile COO of the company, heading operations, category management, product, and omnichannel Business, Ashish has played a pivotal role in shaping Pepperfry's customer-centric strategy, supply side strengths, and operational excellence". (Read More)
Sensex Today Live | Share Market Updates: Raymond share price may hit ₹2,600, say analysts. Here's why
According to technical analysts, Raymond share price witnessed a strong gap up opening and has witnessed follow-up buying backed with strong volumes. Considering the positive development they expect the upmove may continue in the near term, where the next resistance is in the zone of 2,330 -2,340 levels. The bullish gap left today around 2,070 - 2,100 to act as immediate support.
In its report, global brokerage Jefferies stated that it was focused on both growth and simplification. With a 28% potential increase from the market price of ₹2,023.90, the international brokerage has set a price target of ₹2,600. (Read More)
Sensex Today Live | Share Market Updates: Dunzo delays salary further, opts for batch payments amid fundraising challenges
Dunzo, Bengaluru-based a quick grocery delivery service start-up backed by Reliance and Google, is facing delays in salary disbursements due to fundraising challenges, has opted to pay salaries in batches.
“Due to certain procedural requirements, we have to do this batch-wise," Dunzo stated in an email to employees as reported by Moneycontol. (Read More)
Sensex Today Live | Share Market Updates: CBI arrests GAIL Executive Director KB Singh, 4 others in ₹50 lakh bribery case
The Central Bureau of Investigation on 5 September arrested GAIL Executive Director KB Singh and 4 others in alleged ₹50 lakh bribery case on awarding for GAIL-related projects, news agency PTI quoted an official as saying. (Read More)
Sensex Today Live | Share Market Updates: IDFC First Bank share touches ₹100 mark. Joins HDFC Bank, ICICI Bank, SBI, Kotak Mahindra Bank in this elite club
IDFC First Bank shares experienced a prolonged period of consolidation, lasting nearly a year following the outbreak of the Russia-Ukraine war. However, the banking stock reached its low point, trading at approximately ₹31 per share on NSE in June 2022. Subsequently, over the course of more than a year, the stock embarked on an upward trajectory.
In these nearly 15 months, IDFC First Bank's share price surged to a new peak of ₹100.70 per share during early morning trading sessions, marking the first time it crossed the three-digit mark since its listing on Indian bourses. This remarkable journey saw IDFC First Bank shares appreciate from ₹31 to ₹100.70 per share, delivering an impressive return of around 225 percent to its shareholders during the stock market's rebound following the Russia-Ukraine crisis. (Read More)
IDFC FIRST BANK
Sensex Today Live | Share Market Updates: Pharma index jumps a per cent despite Dr Reddy's shedding 1.5%; most stocks in green
Sensex Today Live | Share Market Updates: Apple's new patent suggests futuristic ‘Foldable Glass Panel iMac Concept’: Report
Apple has reportedly patented a foldable iMac concept with a glass panel that folds at the bottom, offering space-saving benefits and adjustable screen angles. While it looks futuristic, it is uncertain if this concept will become a reality anytime soon.
A recent patent, as noted by Patently Apple, introduces a design that does not rely on a folding display but instead incorporates a folding glass panel at the base, resulting in an exceptionally stylish all-in-one desktop solution, reported iMore. (Read More)
Sensex Today Live | Share Market Updates: Indian rupee drops to 83/USD, lowest in about two weeks
The rupee on Tuesday dropped to 83 against the U.S. dollar for the first time in almost two weeks on likely dollar outflows and broad weakness in Asian currencies.
The rupee was at 83.0050 to the dollar, down from 82.7475 in the previous session.
The offshore Chinese yuan dropped to near 7.30 to the dollar following weak China services data. The Korean won was the worst performer in Asia, down by almost 1%.
The dollar index was at 104.6. (Reuters)
Sensex Today Live | Share Market Updates: Global cooperation key to countering threats like crypto: FM Sitharaman
Global cooperation and a framework are essential to counter threats emanating from areas such as cryptocurrencies, Finance Minister Nirmala Sitharaman said on Tuesday. “As much as you build firewalls, there are more and more newer ways in which attacks are being made. Crypto (is a) threat as well as an opportunity," Sitharaman said at the Global Fintech Fest in Mumbai.
Crypto has long been a thorny issue in India. RBI governor Shaktikanta Das has voiced his concerns about the digital tokens several times, saying they pose threats to financial stability. The finance ministry notified in March that the exchange, transfer, safekeeping or administration of cryptocurrencies would be under the ambit of the Prevention of Money Laundering Act (PMLA). (Read More)
Sensex Today Live | Share Market Updates: FMCG sector shines as it jumps 0.5% with most stocks in the green
Sensex Today Live | Share Market Updates: BharatPe's chief business officer Nishant Jain quits
BharatPe's chief business officer Nishant Jain has quit the firm and joined stock broking firm Angel One as executive director and chief business officer (assisted business).
Announcing his departure on LinkedIn, Jain said, "The past 3.5 years with BharatPe have been nothing short of extraordinary. It has been thrilling experience, filled with the satisfaction of making a meaningful impact."
Jain had joined BharatPe as part of the CXO team in 2020. Before that, he worked in leadership roles with Pepsi and Zomato. (Read More)
Sensex Today Live | Share Market Updates: NCLT asks SpiceJet to resolve issues with lessors
The National Company Law Tribunal on Tuesday asked SpiceJet to resolve its issues with lessors, while hearing the insolvency plea filed by Celestial Aviation.
The court, which also verbally asked the airline to offer shares to the lessor, deferred the matter for 15 September.
On Monday, SpiceJet said it will allot 48.1 million shares on a preferential basis to nine of its aircraft lessors to clear dues worth ₹231 crore. (Read More)
Sensex Today Live | Share Market Updates: Asian shares mostly lower amid selling of China property shares
Shares were mostly lower Tuesday in Asia after U.S. markets were closed for the Labor Day holiday.
U.S. futures also were lower and oil prices were mixed.
Hong Kong fell nearly 2% as Chinese property stocks declined. Investors sold real estate shares to lock in gains fueled by recent government efforts to support the ailing industry.
China Vanke lost 1.2%, while Country Garden Holdings gave up 1%. Hong Kong-based Sun Hung Kai Properties shed 1.9%.
Chinese services data came in weaker than expected, dulling hopes for a rebound in China's lackluster growth. A survey showed business activity in China's services sector increased at the slowest pace in eight months.
Hong Kong's Hang Seng index declined 1.8% to 18,507.16 while the Shanghai Composite index fell 0.8% to 3,152.88.
Tokyo's Nikkei 225 gained 0.3% to 33,036.76 as the government reported the weakest household spending in more than two years. India's Sensex also was higher.
In Seoul, the Kospi lost 0.1% to 2,580.79. (AP)
Sensex Today Live | Share Market Updates: HC upholds Centre's decision to include all medical devices as drugs
The Delhi High Court has upheld the Centre's decision to include all medical devices within the ambit of "drug" under the law regulating drugs and cosmetics.
A bench headed by Justice Rajiv Shakdher rejected petitions by the Surgical Manufacturers and Traders Association challenging the central government's 2018 and 2020 notifications first declaring four medical devices as “drugs" under the Drugs and Cosmetics Act, and then spreading the net to cover all medical devices.
The court said the decision to include all medical devices as “drugs" was a policy matter and no case for interference was made out as there was no arbitrariness or unreasonableness. (PTI)
Sensex Today Live | Share Market Updates: NTPC is among the biggest laggards as it sheds 1.5% in today's session
Sensex Today Live | Share Market Updates: Multibagger stock: Singapore-based FII buys stake in Balu Forge after 225% rally in YTD
Balu Forge shares have emerged as one of the standout performers in the Indian stock market for 2023. Year-to-date (YTD), these multibagger stocks have shown remarkable growth, surging from approximately ₹66.50 per share to ₹228.70 per share, delivering an impressive return of over 225 percent during this period.
Interestingly, even with this substantial rise in stock value, some prominent institutional investors continue to see potential upside in Balu Forge. Notably, Sixteen Street Investing, a foreign institutional investor (FII) based in Singapore, has recently invested in this multibagger stock. According to data available on the BSE website, the FII has acquired a 2.32 percent stake in Balu Forge, demonstrating its confidence in the stock's prospects, despite its remarkable recent performance. (Read More)
Sensex Today Live | Share Market Updates: Sensex and Nifty remain in the green in today's session with IT, PSU Bank, Realty and Media leading the rally
Sensex Today Live | Share Market Updates: Sri Lanka Expects Major Debt Restructuring Deals as IMF to Review Bailout
Sri Lanka expects to forge major deals in its debt restructuring this month as the International Monetary Fund conducts the first review of its $3 billion loan program.
Legislators this week are likely to pass a bill amending tax laws, clearing a legal hurdle and allowing a domestic bond swap to be completed by mid-September, central bank Governor Nandalal Weerasinghe said at an investor forum Tuesday. Meanwhile, officials expect to reach an agreement on how to restructure its foreign debt also this month, he said.
After months of delay, Sri Lanka is stepping up efforts to fast-track its debt restructuring to help secure more funds from the IMF and set its economy back on track after it defaulted in 2022. Sri Lanka’s dollar bondholders and lenders like China and India are closely watching the local debt exchange as creditors seek equal treatment. (Bloomberg)
Sensex Today Live | Share Market Updates: India’s services PMI falls to 60.1 in August from 62.3 MoM
In August, India's services sector sustained its growth, albeit at a somewhat reduced rate compared to July. According to data from S&P Global released on Tuesday, the services Purchasing Managers' Index (PMI) declined from 62.3 in July to 60.1 in August.
Nevertheless, despite this decrease, the seasonally adjusted S&P Global India Services PMI Business Activity Index still pointed to one of the most robust expansions in output levels observed since mid-2010. (Read More)
Sensex Today Live | Share Market Updates: IT index bounces back after struggling in early session with all stocks trading in the green
Sensex Today Live | Share Market Updates:: India on track to become solid global player due to strong financial regulations, say experts
India is on the path to become a solid global player due to robust financial regulations, financial experts, including RBI Deputy Governor M Rajeshwar Rao, have said.
The RBI Deputy Governor said India was in a "sweet spot" to grow robustly, despite global turmoil and monsoon risks to growth, and to do so, developing credit markets was essential.
Rao, and the other financial experts, expressed their views at IIM Kozhikode's 'First Annual Seminar on Banking Regulation, Intermediary Soundness and Systemic Stability' held on Monday, a release issued by the institute said.
To address credit risks, Rao said financial intermediaries should consider credit risk as a core element in their strategies. (PTI)
Sensex Today Live | Share Market Updates: Tata Steel to pay ₹314.70 crore as annual bonus to employees
Private steel major Tata Steel announced a total payout of ₹314.70 crore on account of annual bonus to employees for the year 2022-2023 following the signing of a Memorandum of Settlement with Tata Workers’ Union (TWU) here.
As per the Memorandum of Settlement the total payout for eligible employees of all applicable divisions of the Company on account of annual bonus will be ₹314.70 crore, the company said in a statement on Monday.
The minimum and maximum annual bonus payable for 2022-23 will be ₹42,561 and ₹4,61,019 respectively. (PTI)
Sensex Today Live | Share Market Updates: Apollo Hospitals shines as it jumps more than 2% in today's session
Sensex Today Live | Share Market Updates: Automobile retail sales see 9 pc growth in August: FADA
Automobile retail sales in India rose by 9 per cent in August aided by sales growth in all segments, including passenger vehicles and two wheelers, dealers' body FADA said on Tuesday.
The total retail sales across segments rose to 18,18,647 units last month, up 9 per cent, from 16,74,162 units in August 2022.
Passenger vehicle registrations increased by 7 per cent to 3,15,153 units last month from 2,95,842 units in August 2022.
"In the passenger vehicle segment, improved vehicle supply, bolstered by expanded customer schemes, has maintained positive market dynamics," the Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said in a statement.
Similarly, two-wheeler sales saw a jump of 6 per cent to 12,54,444 units as compared with 11,80,230 units in the same month last year. (PTI)
Sensex Today Live | Share Market Updates: Media index jumps 2.5% in the first on the back of a surge in Dish TV, Network 18 and Nazara Tech gaining more than 5% each
Sensex Today Live | Share Market Updates: Vishnu Prakash R Punglia shares list with 67% premium at ₹165 apiece on NSE
Vishnu Prakash IPO Listing: Vishnu Prakash R Punglia Ltd made a stellar debut on stock exchanges on Tuesday. Vishnu Prakash shares were listed at ₹165.00 per share on NSE, a robust premium of 66.66% to the issue price of ₹99 per share.
On BSE, Vishnu Prakash R Punglia shares were listed with 65% premium at ₹163.30 apiece.
Sensex Today Live | Share Market Updates: Angel One Daily Commodity Outlook: Gold remains steady; Crude extends last week’s positive momentum.
Prathamesh Mallya, DVP Research, Non-Agro Commodities & Currency, Angel One Ltd.
GOLD Outlook: We expect gold to trade lower towards 59200 levels, a break of which could prompt the price to move lower to 59120 levels.
CRUDE Outlook: We expect crude to trade higher towards 7200 levels, a break of which could prompt the price to move higher to 7270 levels.
BASE METALS Outlook: We expect copper to trade lower towards 733 levels, a break of which could prompt the price to move lower to 730 levels.
Sensex Today Live | Share Market Updates: Nifty Midcap 100 touches an all-time high
Sensex Today Live | Share Market Updates: Geojit Financial Services views on today's market: Good inflows into mutual funds is reflected in the strong buying by DIIs
Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services: A significant trend in the market is the strength in IT index which is up 4.2% in a week. Mid-cap IT has been doing well and now large-caps like HCL Tech, Infosys and Wipro have joined the rally. The order pipeline of IT companies is expected to improve on the back of the expected soft landing of the US economy.
Metal stocks also are firming up on expectations of rebound in China following the stimulus measures announced to revive the Chinese property market. But there is no room for too much optimism here since the Chinese property market is in deep trouble and recovery would be difficult.
Brent crude at $89 and the poor monsoon are areas of concern. Good inflows into mutual funds is reflected in the strong buying by DIIs who have been buyers for ₹4900 crores in the last 2 trading sessions."
Sensex Today Live | Share Market Updates: Titan jumps a per cent in early trading and leads the charts
Sensex Today Live | Share Market Updates: Rishabh Instruments IPO: Latest GMP, how to check allotment status online
After a robust response from investors to Rishabh Instruments Limited's initial public offering (IPO), there is heightened anticipation for the announcement of the IPO allotment date, tentatively set for September 6, 2023. For those who have participated in the book-building process, it is advisable to verify their Rishabh Instruments IPO allotment status through online channels. This can be done by accessing the BSE website or visiting the IPO registrar's site, KFin Technologies Limited.
Simultaneously, the grey market is sending optimistic signals regarding the public issue. Market observers report that Rishabh Instruments Limited's shares are currently trading at a premium of ₹66 in the grey market. This indicates positive sentiment among investors in anticipation of the IPO share allocation. (Read More)
Sensex Today Live | Share Market Updates: Uday Kotak Sought to Allay RBI Concerns on Succession With an Early Resignation
Uday Kotak’s early resignation as Chief Executive Officer from Kotak Mahindra Bank Ltd., was an attempt to ease concerns of India’s banking regulator about the out-sized influence he wields over the lender, which is seeking approval to name an internal candidate for the role.
Kotak, the country’s richest financier, resigned the same week the bank sent two names including his long-time lieutenant K V S Manian to the Reserve Bank of India as his potential successors, according to people familiar with the matter. The bank has installed Dipak Gupta as its interim chief executive until the end of the year. (Bloomberg)
KOTAK MAHINDRA BANK
Sensex Today Live | Share Market Updates: Sensex and Nifty start flat as Titan and Cipla stocks climb, while Dr Reddy's sheds
Sensex Today Live | Share Market Updates: MRG Capital views on today's market: This might just be the time to exercise caution considering that the global macro indicators have not been the best in the 3 decades
Manu Rishi Guptha, Founder of MRG Capital, a SEBI-registered PMS Company: Soda Ash prices have jumped by nearly 40% in a month which hasn't truly started reflecting in the Soda Ash companies in India such as Tata Chemicals, GHCL and others. I think if the prices in the Global market are sustained, we could see an immediate re-rating of these companies. Besides market always rewards value and valuation irrespective of the short-term headwinds in any good company and I think we have seen the same thing in the IT sector where a new bull run seems to have begun.
While making money has become dramatically easy in the markets, we must also be cognizant of the fact that this euphoria is quite congruent to the euphoria of early 2008 where every stock irrespective of its underlying value or fundamentals was being lapped up by the market participants. This might just be the time to exercise caution considering that the global macro indicators have not been the best in the 3 decades
Sensex Today Live | Share Market Updates: Sensex trades flat in the preopen session; focus to be on Indigo and IDBI bank in today's session
Sensex Today Live | Share Market Updates: Rupee opens 3 paise lower at 82.78 against the US dollar
The Indian rupee opened 3 paise lower against the US dollar on Tuesday weighed down by surging crude oil prices. The local currency opened at 82.78 a dollar as compared to its previous close of 82.75.
The dollar steadied, while Treasuries were slightly lower across tenors as cash trading resumed. Australian bonds also fell ahead of the central bank’s meeting, with yield on the three-year rising two basis points and that on the 10-year up three basis points, Reuters reported. (Read More)
Sensex Today Live | Share Market Updates: Ahead of festive season, Flipkart aims to create over 1 lakh seasonal jobs
In order to cater to demand during the festive season, Homegrown e-commerce marketplace Flipkart on Monday said it is looking to create more than 1 lakh seasonal job opportunities across its supply chain including fulfilment centres, sortation centres and delivery hub.
As per the company's statement, these seasonal jobs, both direct and indirect, will include those for local kirana delivery partners and women, as reported by PTI.
Moreover, it also added that Persons With Disabilities (PWDs) will also be employed to create a diverse supply chain talent. (Read More)
Sensex Today Live | Share Market Updates: Qantas Airways CEO Alan Joyce steps down amid ticket scandal, regulatory scrutiny
Alan Joyce, the long-standing CEO of Qantas Airways, has resigned abruptly, accelerating the succession of Vanessa Hudson, the company's Chief Financial Officer (CFO). Joyce's unexpected exit comes weeks before his formal farewell was planned at the airline's annual general meeting.
The resignation also follows the Australian Competition & Consumer Commission (ACCC) launching a legal case against the airline for allegedly selling tickets for flights it had already cancelled. (Read More)
Sensex Today Live | Share Market Updates: Buy or sell: Vaishali Parekh recommends three stocks to buy today
Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher recommends these stocks for day trading:
1] Samvardhana Motherson: Buy at ₹101.30, target ₹110, stop loss ₹98;
2] Borosil Renewables: Buy at ₹449, target ₹480, stop loss ₹442; and
Sensex Today Live | Share Market Updates: Stocks to Watch: IndiGo, IDBI Bank, Dish TV, BHEL, SpiceJet, Airtel, Cipla, SBI, Power Financial Corp, NHPC, Tata Power, Adani Green, and JSW Energy
IndiGo: IndiGo Airlines has received board approval to purchase an additional 10 A320 NEO aircraft from Airbus, supplementing its existing order of 300. Delivery delays are attributed to Pratt & Whitney engine issues.
IDBI Bank: The Indian government, alongside LIC, moves forward with the strategic disinvestment of IDBI Bank, offering around 61% of the bank's stake. Numerous expressions of interest have been received, with bids invited for an asset valuer.
Dish TV: The Bombay High Court has rejected an interim plea by Dish TV India Ltd's promoter entity, World Crest Advisors, in a dispute over shares.
BHEL: BHEL secures an order for the electro-mechanical work for the 2,880 MW Dibang multipurpose project in Arunachal Pradesh.
SpiceJet: SpiceJet allots 4.81 crore equity shares to nine aircraft lessors to settle ₹231 crore dues.
Bharti Airtel: Bharti Airtel plans to purchase 23,000 MWh of renewable energy for Nxtra data centers.
Cipla: Cipla acquires South Africa-based Actor Pharma to strengthen its presence in the South African healthcare market.
SBI: SBICAP Securities appoints Suresh Shukla as Chief Business Officer.
PFC: PFC signs a ₹1,229 crore term loan agreement to assist Assam Petrochemicals in developing methanol and formalin plants.
NHPC/Tata Power: Several companies, including NHPC, Tata Power, Adani Green Energy, and JSW Energy, propose 39GW of pumped storage projects in India, potentially attracting ₹3.12 trillion in investments. (Read More)
Sensex Today Live | Share Market Updates: HC rejects Dish TV promoter plea against Yes Bank, JC Flowers
The Bombay High Court (HC) on Monday rejected an interim plea by Dish TV India Ltd promoter entity World Crest Advisors, seeking to prevent Yes Bank Ltd and JC Flowers Asset Reconstruction Pvt. Ltd from transferring or encumbering Dish TV shares.
“In light of prima facie finding, that JC Flowers, presently registered as beneficial owner, is having all the rights, benefits and liabilities attached to the securities held by depository and including voting rights, as well as the prima facie finding that no case of fraud has been established by the plaintiff, the interim relief sought for in the present application cannot be granted," said a bench led by Justice R.I. Chagla. (Read More)
DISH TV INDIA
Sensex Today Live | Share Market Updates: Government invites bids for asset values for IDBI Bank disinvestment
The government has initiated the process of soliciting bids to appoint an asset valuer for the strategic disinvestment of IDBI Bank. Both the government and LIC (Life Insurance Corporation) are collectively divesting approximately 61% of their stake in IDBI Bank, and there has been significant interest from various parties, with multiple expressions of interest (EoI) received for this stake sale.
The Department of Investment & Public Asset Management (DIPAM), on behalf of the government and LIC, on Monday floated a request for proposal (RFP) to engage a “reputed Asset Valuer Entity -registered with Insolvency & Bankruptcy Board of India (IBBI), to act as the Asset Valuer for undertaking the IDBI Bank assets' valuation and provide requisite assistance in the process of strategic disinvestment of IDBI Bank, till the completion of the transaction." (Read More)
Sensex Today Live | Share Market Updates: IndiGo Airlines board approves purchase of 10 additional A320 NEO aircraft from Airbus
The board of directors of IndiGo Airlines has given the green light for the acquisition of an additional 10 A320 NEO family aircraft from the renowned French aircraft manufacturer, Airbus. This purchase supplements the existing order for 300 aircraft, as disclosed in the company's filing.
Back in 2019, IndiGo made a historic order for over 300 Airbus A320 NEO family aircraft, with an approximate value of $33 billion based on notional catalogue prices. It's worth noting that delays in the delivery of the A320 NEO family aircraft were primarily attributed to challenges associated with Pratt & Whitney (P&W) engines. (Read More)
Sensex Today Live | Share Market Updates: Hero MotoCorp to invest additional ₹550 crore into Ather Energy
Hero MotoCorp has announced its intention to invest an additional ₹550 crore in Ather Energy, as stated in an exchange filing. During its meeting on September 4, 2023, the company's board granted approval for this investment in Ather Energy's Rights issue. However, it's important to note that the investment is contingent upon the execution of definitive documents and the fulfillment of customary conditions associated with transactions of this kind. (Read More)
Sensex Today Live | Share Market Updates: Vishnu Prakash IPO listing date today. GMP, experts predict 'robust' debut of shares
The Initial Public Offering (IPO) of Vishnu Prakash R Punglia Limited is set to debut on the Indian stock market today. According to information available on the BSE website, starting from Tuesday, September 5, 2023, Vishnu Prakash R Punglia Limited's equity shares will be listed and made available for trading on the exchange within the 'B' group of securities. The trading of Vishnu Prakash shares will commence with a special pre-open session at 10:00 AM as part of Tuesday's trading activities.
In the lead-up to the listing of Vishnu Prakash shares on both BSE and NSE, the grey market has displayed a bullish sentiment towards the book build issue. (Read More)
Sensex Today Live | Share Market Updates: European Stocks Cede China-Led Gains in Thin Holiday Trade
European shares ceded earlier gains in low-volume trading as some of the optimism around China’s property market stimulus ebbed.
Europe’s Stoxx 600 gauge closed little changed after rising as much as 0.8% earlier. The consumer, travel and leisure and mining shares — sectors with exposure to China — advanced. US markets are shut for the Labor Day holiday and futures for the S&P 500 index were flat.
With Wall Street shuttered, European trading volumes were below their thirty-day average by almost a third, according to data compiled by Bloomberg. Danish drugmaker Novo Nordisk A/S rose to a new record high, having just become Europe’s most valuable firm. Carmaker Mercedes Benz Group AG added 1% after unveiling a new, longer-range electric vehicle.
Expectations of crude supply cuts from the OPEC group kept oil futures near nine-month highs. (Bloomberg)(
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