10:21 AM

ITC surges 9% in best single-day rally since April 2020 on BAT’s stake sale

The stock reported its sharpest intra-day rally since April 3, 2020 when it had surged nearly 10 per cent, data shows. ITC’s market capitalisation has grown by Rs 43,373 crore to Rs 5.48 trillion in intra-day trade today. READ MORE

10:08 AM

Stress tests by AMCs: Risk metrics of small, midcap funds in focus

According to a risk disclosure format that the Association of Mutual Funds in India (Amfi) has shared with fund houses, MFs will have to disclose total investment of the top 10 investors in two active schemes. They will also need to provide volatility metrics, such as the portfolio’s standard deviation and beta, which compares the portfolio’s volatility to a broader index. READ MORE

9:54 AM

India’s rising valuations prompt foreign companies to sell holdings

The companies are seeking to capitalise on India’s equity valuations which are among the most expensive in the world after eight years of annual gains. Analysts say these transactions contribute to increasing public shareholding, creating space for large investors to boost their holdings in the $4.5 trillion market. READ MORE

9:38 AM

Ethos slides 3%; Co reduces stake in Silvercity Brands AG

>> The company has reduced its stake in Silvercity Brands AG to 35 per cent from 100 per cent. With this, Silvercity Brands AG shall be identified as an associate of the company.

9:36 AM

HG Infra Engineering holds gains on receiving Letter of Acceptance

>> The company has received a letter of acceptance from the East Central Railway for the construction of a double line track in Gaya-Son Nagar section, Bihar. The cost of the project is Rs 709 crore.

9:34 AM

Likhitha Infra soars 5% on order win worth Rs 106 crore

>> The company has received an order worth Rs 106.12 crore from Hindustan Petroleum Corporation Limited.

9:31 AM

Shalby rallies 3.5% on decision to acquire Healers Hospital

>> The multi‐specialty hospital will make a strategic investment in Healers Hospital Private Limited (Healers Hospital) with an acquisition of 100 per cent equity stake for a consideration of Rs 104 crore. This equity stake will be acquired within a period of one month, through secondary buy‐outs.

9:29 AM

Jet Airways hits 5% upper circuit as NCLAT okays transfer of ownership

>> NCLAT on Tuesday upheld the resolution plan of grounded carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium.

9:24 AM

Buzzing stock :: ITC jumps 6% on heavy volume

>> British American Tobacco (BAT) may sell up to 3.5 per cent stake in ITC by way of block deals on Wednesday. The deal would involve 436.9 million shares in a price range from Rs 384 to Rs 400.25 a share.

8:57 AM

Paving way for end to negative rates, Japan Inc to offer big wage hikes

Some of Japan’s biggest companies are expected to formally offer sizeable pay increases at annual talks with unions that wrap up on Wednesday, clearing the way for the central bank to end negative interest rates as early as next week. Read

Japan, Japan flag

8:51 AM

ECB will have to gamble with interest rate cut before long, says Wunsch


The European Central Bank will have to gamble soon with an interest rate cut even though wage inflation and price rises for services are uncomfortably high, Governing Council member Pierre Wunsch said.


 

The ECB held rates unchanged at a record high last week, but its chief Christine Lagarde said discussions over easing policy have begun, hinting strongly that this easing would mostly likely happen in June, when wage data will have been published. Read

ECB, European Central Bank

8:49 AM

CPI-based inflation eases to 5.09% in Feb; Jan IIP growth at 3.8%


The consumer price index (CPI)-based inflation eased to 5.09 per cent in February. The retail inflation rate had eased to 5.1 per cent in January from 5.69 per cent in December 2023.

 

The recent numbers mean the target inflation continues to stay within the Reserve Bank of India (RBI) ‘s tolerance level of 2-6 per cent for six consecutive months. Read

Photo: Bloomberg

8:45 AM

Nifty 500 beats S&P 500, other leading global indices in last 10 yrs: study


In the last ten years, India’s broadest index, the Nifty 500,  has outperformed most of the world’s leading indices except the US’ Nasdaq 100, a study by Motilal Oswal has found. 

 

During the December 31, 2013 to December 31, 2023 period, the tech-heavy Nasdaq 100 gave returns of around 21.5 percent in Indian rupee terms while the Nifty 500 gave 16 percent, clinching the second spot. Read

SGX Nifty



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