The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
These firms owe Rs 13 trillion to lenders and account for 55% of all non-financial corporate debt.
Venkataraman Krishnamurthy, who is considered as the turnaround man of several Indian corporate houses like BHEL, Maruti Udyog, SAIL and Gail (India), passed away on Sunday at the age of 97. Krishnamurthy is considered as "the father of public sector undertakings in India" by many in India Inc. Born in the temple town of Tamil Nadu's Karuveli, he started his career as an airfield technician during the Second World War.
The BSE benchmark index is yet to give any indication on the monthly Fibonacci charts.
Industry players said they were indeed seeing a serious fall in capacity usage, though some sectors were seeming to prevent further fall in the overall capacity utilisation.
The Modi government's e-auction policy for coal, meant to shield the consumer against hike in electricity charges, has already led to serious allegations of cartelisation among the bidding corporates. Matters came to such a pass that the government at one point last week was considering inviting the Central Bureau of Investigation to probe the matter, reports Sheela Bhatt/Rediff.com.
Among the Sensex 30 stocks, new entrant Sesa Goa soared 22 per cent to Rs 187, while TCS rose 11 per cent to Rs 2,023.
IT shares lost ground tracking a sell-off in tech stocks on Nasdaq on Friday
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JSPL and Balco had emerged as the highest bidders in the recently concluded auctions.
Coal production by Coal India (CIL) has grown slower than the captive mines, awarded over the last six years. During 2020-22, production from the captive mines jumped by 38.5 per cent while CIL saw a tepid growth of 3.4 per cent, according to government data. In terms of dispatch to the power sector, captive mines have raced ahead, witnessing a growth of 72 per cent compared to 15 per cent for CIL. For the current fiscal year, CIL's production is expected to be around 565 million tonnes.
Mirroring the increase in the earnings of their companies, the chief executives and promoters of India's top listed firms gained handsomely from the boom last financial year. Their remuneration includes salaries, perquisites or perks, and profit-linked commissions.
The bias for the Sensex is likely to remain bearish as long as the index sustains below 18,900-odd levels. On the downside, the index could slide to 17,300-odd levels
Savitri Jindal has retained the tag of being the richest woman in India with a networth of $5.2 billion
Metals bucked the trend and shone across the board.
Those for power sector to see tussle between prior owners & new challengers
The S&P BSE Sensex surged 364 points to end at 24,607 and the Nifty50 soared 107 points to close at 7,476.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
Governance group SES thinks so but JSW Steel says he's exemplary and deserves it.
The BSE Midcap and Smallcap indices underperformed the largecaps and ended over 1% lower.
Many are testing hybrid models including getting small batches to work, rotating staff every week, introducing shifts and allowing certain functions to operate from office in small numbers.
Pharma shares extended losses after the government's ban on combination drugs.
The broader markets were firm with mid-caps and small-caps gaining 1-1.4 per cent on the BSE.
Markets end in red; bluechips struggle to keep pace.
Sajjan Jindal-promoted JSW Steel on Tuesday announced the acquisition of Jindal United Steel Corporation, Saw Pipes USA and Jindal Enterprises LLC
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
All the sectoral indices, led by realty, metal, consumer durables and power were trading in the negative zone on Thursday.
Shyam Metalics and Energy (SMEL) will end the over two-month drought in the initial public offering (IPO) market. The steelmaker will launch its Rs 909-crore offering soon. SMEL has pruned its IPO size from Rs 1,107 crore, with the promoters deciding to offload shares worth Rs 252 crore as against Rs 452 crore planned earlier. The company has priced its IPO between Rs 303 to 306 per share.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
Lines up investments in steel, power sectors to profit from booming demand.
This is the first time India is offering coalmines to private companies for commercial sale.
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Banks, real estate and metal scrips among the top losers.
Sensex is trading firm; FMCG, real estate going strong.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
Since April, India has seen multiple strains of the coronanavirus sweep the nation, upending life and businesses alike. Out-of-home retail and discretionary categories such as durables, auto, fashion, lifestyle, hospitality, food services, travel, and tourism have been the worst-hit as Covid cases remain high, leaving state governments with no option but to curtail mobility and economic activity.
Besides the manufacturing industry, voices in favouring the need for protectionism have also been heard from local start-ups, which at times find it tough to compete with global players that entered India with deep pockets.
The Board of Control for Cricket in India on Wednesday indicated it will appeal against former Chief Justice of India R C Lahoti's report that went in favour of Kochi Tuskers, the erstwhile Indian Premier League franchise whose contract was terminated by the Board in 2011 because of an alleged breach of contract.
Ajit Mishra answers reader queries on the stock market.
Financials ended mixed despite the status-quo on key rates by the RBI. SBI, ICICI Bank and Axis Bank ended up 0.4-2.5% each.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
