Top news on Sept 10: Sensex neared 82,000, Aditya Ultra Steel IPO, WB doctors’ strike continue, and more

Top news on Sept 10: A host of developments, updates, and events are expected in India and internationally on September 9 in the markets, political, financial and general spheres. We take a look.

Nifty 50 closes above 25,000, Sensex nears 82,000; IT stocks drive rally

The Indian stock market extended its gains for the second consecutive trading session on Tuesday, buoyed by a rally on Wall Street overnight amid hopes of a potential Fed rate cut next week.

IT and pharma stocks led the surge, with the Nifty IT stocks rising 5%, fueled by optimism over rate cut and a positive outlook from domestic brokerage firm Motilal Oswal.

Mid-cap and small-cap indices outperformed the benchmark, with the Nifty 50 gaining 0.42%, to close above the 25,000 mark at 25,041 points. Read More

IT services cos to report operating profit margin at 22% in FY25, revenue growth muted

Information technology (IT) services companies are likely to report muted revenue growth at four to six per cent in the current fiscal year 2024-25 (FY25) for a second consecutive year. Despite the challenges, domestic credit rating agency ICRA projects the sector's operating profit margin (OPM) to remain healthy at ~22 per cent in FY2025, with attrition levels having declined considerably and expected to stabilise over the near term. Read More 

Aditya Ultra Steel IPO subscribed 4.34x on Day 2 so far; check GMP, subscription status, other key details to know

The initial public offering (IPO) subscription period for Aditya Ultra Steel started on Monday, September 9, and will bewrapped up on Wednesday, September 11. With a face value of  ₹10, the prices for the Aditya Ultra Steel IPO range from  ₹59 to  ₹62 per share. At least 2000 of those shares are up for bid, and there are multiples of those shares available.

The company manufactures TMT bars, a type of rolled steel product, under the Kamdhenu brand, primarily for the building and infrastructure development industries. Using a rolling machine and reheating furnace, the firm turns billets into TMT bars. Read More 

Vision Infra Equipment Solutions IPO booked 66.73x on Day 3 so far; check GMP, subscription status, other key details

Vision Infra Equipment Solutions' initial public offering (IPO) subscription period commenced on Friday, September 6 and will conclude on Tuesday, September 10. The prices for the Vision Infra Equipment Solutions IPO fall within the range of  ₹155-163 per share, with a face value of  ₹10. There are multiple shares available, and a minimum of 800 shares are open for bidding.

Established in 2015, Vision Infra Equipment Solutions offers services related to airports, smart cities, irrigation, structures and industries, mining, railroads, etc. Read More 

Kolkata rape-murder case: Doctors’ cease work to continue despite SC’s 5 pm deadline: ‘Our demands are unfulfilled…’

The junior doctors in West Bengal announced their decision to persist with their strike action, seeking justice for the RG Kar hospital trainee doctor who was raped and murdered. This comes despite the Supreme Court's directive for them to resume work by 5 pm on Tuesday. Read More 

Let Us Know When It Folds’: Samsung revives 2022 tweet to troll Apple’s iPhone 16 launch

Korean tech giant Samsung has reignited its playful rivalry with Apple following the Cupertino-based company's major hardware launch event. Apple unveiled its iPhone 16 series at the Glowtime event on Monday, alongside other new products such as the Apple Watch Series 10, an updated Apple Watch Ultra 2, and a refreshed AirPods lineup. The event also included exciting updates to iOS 18, showcasing Apple’s latest innovations. Read More