Stock Market LIVE: Sensex off lows, down 300 pts; Nifty nears 22,200; broader indices gain | News on Markets

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10:41 AM

Jio Fin Providers zooms 5% on asserting new broking, wealth administration biz

Shares of Jio Monetary Providers jumped 4.8 per cent intraday at Rs 271.95 on Tuesday amid announcement of latest broking and wealth administration enterprise. The inventory of the corporate had hit a 52-week excessive of Rs 378 on April 8, 2024, whereas it hit a 52-week low of Rs 204 on 24 October, 2023.

At 10:11 AM, the corporate’s share was buying and selling 3.44 per cent greater at Rs 366.60. As compared the S&P BSE Sensex was buying and selling 0.49 per cent decrease at 73,038 ranges. A mixed over 6.63 million shares of the corporate modified fingers on the BSE. Learn extra

10:33 AM

Vodafone Concept falls 4%; Rs 18,000-crore FPO anchor guide to open in the present day

Shares of Vodafone Concept dropped as a lot as 3.95 per cent to hit an intraday low of Rs 12.64 per share. The drop is available in response to the follow-on public providing (FPO) anchor guide, which can open in the present day.

Vodafone Concept shares have plunged 25.19 per cent year-to-date (YTD), however have surged 7 per cent prior to now 6 months. Learn extra

10:28 AM

Srinivas Pallia bought his total stake in Wipro earlier than taking on as CEO

Srinivas Pallia, who has been part of Wipro for over three a long time, divested all his shares valued at Rs 5 crore within the firm roughly a month and a half previous to his appointment as the brand new chief government, in response to a report by The Financial Occasions (ET).

Pallia bought his 100,000 Wipro shares by a ‘market sale’ on February 14 this 12 months, with the transaction being reported to the trade on February 15. Learn extra

9:01 AM

Ought to FPIs be nervous about newest change to India-Mauritius tax treaty?

” This modification the within the treaty signifies that advantages of decrease taxation as accessible beneath the treaty could be denied to traders investing through Mauritius if one of many main functions of investing through Mauritius was to acquire a tax Profit. Funding through the Mauritius route had been already on the decline and this step will additional be sure that solely these funds which might show reputable enterprise causes to be primarily based out of Mauritius, will select to take a position by that jurisdiction,” mentioned Pallav Pradyumn Narang, Associate, CNK READ MORE

8:57 AM

Market Technique :: Sectors to deal with as markets prone to keep weak in near-term

Triggers for markets:

1) The financial issue is the rising US bond yields (10-year yield is above 4.6% ) which reduces the prospects of fee cuts by the Fed this 12 months. Excessive bond yields are adverse for dangerous belongings like fairness and can speed up FII promoting in rising markets like India.

2) Israel’s army chief’s assertion that “there shall be a response to Iran’s assault on Israel” has elevated the chance of escalation of tensions within the Center East.

Technique:

Buyers might wait and watch the developments. In the meantime, long-term traders can slowly accumulate prime quality large-caps on corrections.

Massive-caps in banking, IT, autos, capital items, oil & gasoline and cement are perfect for long-term funding. Since steel costs are firming up, steel shares will stay resilient.

Views by: V Ok Vijayakumar, Chief Funding Strategist, Geojit Monetary Providers

8:46 AM

NCLAT to listen to IDBI Financial institution, Axis Finance plea on Zee-Sony merger on Might 17

In the meantime, Senior Advocate Arun Kathpalia, showing for Zee Leisure Enterprises Restricted (ZEEL), mentioned the NCLAT case was an enchantment towards the sanction to the Zee-Sony merger, whereas the one in NCLT handled the implementation of the merger. READ MORE