Salboni, in West Medinipur district, is where JSW Steel in 2007 said it would be putting up a 10 million tonne a year steel factory, plus a big captive power plant.
Adani Enterprises' proposed Rs 20,000 crore (Rs 200 billion) fundraising via fresh issue of equity shares through a public offer would be the fourth biggest by Indian companies, excluding banks and non-banking financial companies.
The 30-share Sensex and the 50-share Nifty ended flat at the mark of 29,008 and 8,767 respectively.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52. The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.
Investors are keenly awaiting the announcement of the macroeconomic data-IIP and CPI due on Tuesday.
Nifty50 surged 145 points to close at 8,468 after hitting an intra-day high of 8,475.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
Gains were led by HUL on better-than-expected margins in March quarter and capital goods shares.
The broader NSE Nifty plunged 119.15 points, or 1.01 per cent, to 11,709.10.
Indian CEOs might like to make some serious course correction.
Tata Steel was the biggest gainer in the Sensex chart, rising 2.39 per cent, followed by Tata Motors, Power Grid, Reliance Industries, UltraTech Cement, NTPC, Nestle, HUL, Mahindra & Mahindra, Wipro, Kotak Mahindra Bank and Asian Paints. In contrast, Bajaj Finance, IndusInd Bank, Axis Bank, Bharti Airtel, Bajaj Finserv, ICICI Bank, Infosys and Titan were among the laggards.
Market breadth is positive with 942 advances and 196 declines.
Among the Sensex constituents, Larsen and Toubro emerged as the top performer with a gain of 2.76 per cent after the company announced winning large contracts from domestic clients.
In the Sensex pack, Hero MotoCorp, IndusInd Bank, Bajaj Auto, Maruti and M&M were the top gainers, spurting up to 2.66 per cent.
Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.8%-1%.
The biggest gainers on both the bourses were Reliance Industries, Infosys, NTPC, ONGC, HUL, PowerGrid, Asian Paints, ITC and HCL Tech, rising up to 2 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Among the Sensex firms, Tech Mahindra, HCL Technologies, Wipro, Infosys, Bajaj Finance, Tata Consultancy Services, Bajaj Finserv and ICICI Bank were the major gainers. Power Grid, Nestle, Asian Paints and Hindustan Unilever were among the laggards.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
TCS created wealth worth Rs 3,458 billion for the period 2010-15.
OIL, IOC, HPCL, BPCL slipped between 0.1-1.5% each while the oil producing companies such as ONGC (0.1%), RIL (1.5%), GAIL(2.6%) also edged lower.
The S&P BSE Sensex ended up 129 points at 26,843 and the Nifty50 ended up 39 points at 8,220.
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Brokerages expect Nifty50 companies to have cumulatively witnessed strong double-digit growth in their earnings in the first quarter of FY24 (Q1FY24). This growth in the combined earnings is expected to have been driven by banks, automakers, and oil & gas companies. Other sectors may report muted profit growth.
Cummins India will soon start producing fuel-agnostic engine systems at the Tata-Cummins plant in Phaltan in Satara district of Maharashtra, senior officials at Cummins India said. The firm will start limited production by the end of 2023 and mass production will likely begin by 2024, the officials said.
Yes Bank topped the gainers' list on the Sensex. It was followed by HDFC, Bajaj Finance, HDFC Bank, ICICI Bank, L&T, SBI, Axis Bank and Kotak Bank -- rallying up to 5.24 per cent.
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
Net profits may dip 4.9% y-o-y, but the silver lining is that performance may be better than the preceding quarter
Tata Motors was the worst performer on the Sensex, plummeting 10.32 per cent to Rs 436.55 after the company reported a steep 96.22 per cent decline in consolidated net profit for the December quarter.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
India's top listed companies reported their best-ever quarterly net profit of Rs 2.39 trillion in the September quarter of FY22, up 46.4 per cent year-on-year. The earnings were driven by a big surge in the profitability of banks, non-banking financial companies & insurance (BFSI), oil & gas, and metal & mining firms. The combined net profit of these three cyclical sectors were up 87 per cent YoY to a record high of Rs 1.53 trillion, up from Rs 82,000 crore a year ago and Rs 1.08 trillion in Q1FY22.
IndusInd Bank was the biggest gainer in the Sensex pack, rallying 5.23 per cent, followed by Hero MotoCorp, Coal India, Yes Bank, PowerGrid, ICICI Bank, HCL Tech, L&T, Kotak Bank and Bharti Airtel, rising up to 1.56 per cent.
Mukesh Ambani-led RIL, which had a cash chest and marketable securities worth over Rs 90,000 crore (Rs 900 billion) at the end of the last fiscal, is known for very effectively managing its financial resources by placing them in liquid instruments and highly rated securities.
Besieged by rising steel prices, the domestic passenger car manufacturers are gearing up to raise prices again. Barely a month ago, Maruti Suzuki, Hyundai Motors India, Mahindra & Mahindra, Tata Motors and Honda Siel had effected price increases of Rs 6,000 to Rs 30,000 across models.
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The 30-share Sensex lost 22 points to close at 27,090 and the 50-share Nifty gained 7 points to end at 8,121.
Investors were seen in a cheerful mood and widened their positions in frontliners as well as midcap and smallcap stocks to mark the beginning of their new accounts
An increase in sales across all categories in the automobile industry, has made need for higher working capital inevitable.
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