After choppy moves throughout the day, benchmark indices ended in the red ahead of the US Fed meeting outcome and newsflow over Evergrande debt crisis. Media stocks were under the spotlight amid the announcement of the ZEE-Sony merger. Realty stocks also saw massive buying as Karnataka cut stamp duty. However, banks and financial services ended down. The 30-share pack Sensex fell 77.94 points or 0.13 per cent to close at 58,927.33. The index gyrated 300 points before closing. Its broader peer NSE Nifty declined 15.35 points or 0.09 per cent to 17,546.65.
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Vodafone Idea to approach board for fundraising after govt issues guidelines on reform measures: CEO
Vodafone Idea will seek board approval afresh to raise funds after the government issues detailed guidelines on telecom reform measures, and its promoters will get a chance to participate in the fundraising round, a top company official said on Wednesday. Vodafone Idea MD and CEO Ravinder Takkar said that the company is gearing up to invest in the business and compete in the market. He said when the actual guidelines are issued by the government, then the company will update its business plans accordingly.
Paras Defence IPO sees 40.6 times subscription on Day 2
The initial public offering (IPO) of Paras Defence and Space Technologies continued to generate strong investor attention on the second day of bidding. The issue saw applications for 28,96,93,260 shares against the total issue size of 71,40,793 shares. This means the offer has been subscribed 40.6 times as of 5:00 pm.
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Rupee slumps 26 paise to close at 73.87 against US dollar
At the interbank foreign exchange market, the local currency opened at 73.70 and witnessed an intra-day high of 73.66 and a low of 73.93 against the US dollar in day trade. The local unit finally settled at 73.87 a dollar, down 26 paise over its previous close. On Tuesday, the rupee had settled at 73.61 against the US dollar. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.02 per cent higher at 93.22.
Gold jumps by Rs 196, silver climbs to Rs 59,608
Gold rose by Rs 196 to Rs 45,746 per 10 gram in the national capital on Wednesday amid firm global cues and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,550 per 10 gram. Silver jumped Rs 319 to Rs 59,608 per kg from Rs 59,289 per kg in the previous trade.
On BSE, total gainers outnumbered the losing pack
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Among the 30 stocks in the BSE Sensex index, 16 closed with gains
Sensex sheds 78 points ahead of Fed outcome, closes below 59,000
- TechM and M&M lead the market gains
- 16 of 30 Sensex stocks end the day in the green
- Top Index gainers: TechM (3.63%), M&M (1.92%), HCL Tech (1.31%)
- Top Index losers: HDFC (-1.39%), Nestle (-1.22%), ICICI Bank (-1.12%)
- S&P BSE REALTY was biggest sectoral gainer, up 8.39%
- Volume toppers: ICICI Bank, ITC, ONGC, SBIN, Tata Steel, PowerGrid
Florintree backed Data Patterns files for IPO with Sebi
Defence and aerospace supplier Data Patterns has filed its draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (Sebi) to raise funds from primary markets. According to the draft papers, the Chennai-based company is expected to raise Rs 600-700 crore through its initial public offering (IPO).
Axis Bank commits Rs 30,000 cr till FY26 towards sustainable lending
The country’s third largest private sector lender Axis Bank has committed Rs 30,000 crore lending till fiscal year 2025-26 under its sustainable financing framework, a senior official said. These commitments are in line with the Sustainable Development Goals (SDGs), supporting India’s commitments under the Paris Agreement.
Torrent Power trading in green. The power firm announced that it has inked a share purchase pact to acquire 156 MW wind power projects for about Rs 790 crore from Surya Vidyut, an arm of CESC.
Price as on 22 Sep, 2021 03:11 PM, Click on company names for their live prices.
Indiabulls Housing Finance trading 6% up. The NBFC has said it will raise $165 million by issuing foreign currency convertible bonds (FCCBs).
Price as on 22 Sep, 2021 03:10 PM, Click on company names for their live prices.
How the BSE smallcap insex moved today
How the S&P BSE midcap index moved today
“The combined entity (Zee+Sony) could have a PAT of around Rs 3,100 crore. We expect the PE multiples to be re-rated towards 18-20 times, with a market-cap of Rs 65,000-70,000 crore for the entire entity,”
– Karan Taurani, Elara Capital
ITC’s market capitalisation returned to Rs 3 trillion-mark on Wednesday after the stock of the biggest cigarette and second largest fast moving consumer goods (FMCG) company hit a 21-month high on the bourses. The stock hit an intra-day high of Rs 244.90 and was trading at its highest level since December 2019.
Price as on 22 Sep, 2021 02:27 PM, Click on company names for their live prices.
Route Mobile board approves raising up to Rs 2,000 crore, stock up nearly 2%
Price as on 22 Sep, 2021 02:04 PM, Click on company names for their live prices.
Govt may let foreign investors buy up to 20% in LIC IPO
The Indian government is considering allowing foreign institutional investors to buy up to 20% of state-owned Life Insurance Corporation’s initial public offering, a government source said on Wednesday. The listing of LIC is set to be India’s biggest ever initial public offering, with the government…
Read More: Stock Market Highlights Today: Nifty forms a small bearish candle on daily chart.