Stock market LIVE: Sensex pares gain, up 100 pts; IT shares slip up to 2% | News on Markets

Pharma stock rallies 9% as Quant SmallCap MF buys 0.5% stake via bulk deal

The names of the seller were not known. Kopran’s share price has rallied 170 per cent in the last one year from a level of Rs 104 touched on March 20, 2023. READ MORE

ALERT:: RITES wins order from NSIC; stock gains 2%

RITES in an exchange filing said, the National Small Industries Corporation Limited (NSIC) has given the Letter of Acceptance for engagement of the company as Quality Assurance Agency for quality inspection of 18 trades of Toolkits under PM Vishwakarma Scheme for a consideration of Rs 67.50 crore. 

Steel stocks surge up to 5% on muted Chinese steel output

The stocks of domestic steel companies surged nearly 5 per cent on Monday, on the back of muted steel production data from China. Share prices of Tata Steel, Jindal Steel and SAIL moved up. READ MORE

SBI to make complete disclosure of electoral bonds details by March 21: SC

The bench said the apex court had, in its verdict in the electoral bonds case, asked the bank to disclose all the details of the bonds and it should not wait for further orders on this aspect. READ MORE

ALERT:: Shriram Properties sells 70% of new Bangalore project in opening weekend; stock up 3%

Shriram Properties in an exchange filing said, the company sold 70 per cent of Project Inventory in the recently launched “Codename Ultimate” in Bangalore in its

opening weekend. 

 

This auto ancillary stock surged 14% on Monday on healthy outlook

Shares of Gabriel India recovered 27 per cent from their recent lows. They had tanked 37 per cent from the 52-week high level of Rs 440, touched on December 6, 2023. READ MORE

Canada-based firm Fairfax offers all-cash deal to acquire IDBI Bank

IDBI Bank’s disinvestment process began in October 2022, with LIC and the government selling their respective shares of 30.24% and 30.48%. READ MORE

Infosys Founder Narayana Murthy gifts shares worth Rs 240 cr to grandson

N R Narayana Murthy, the co-founder of Infosys, has given shares valued at over Rs 240 crore to his four-month-old grandson, Ekagrah Rohan Murty, potentially making him India’s youngest millionaire, according to an exchange filing by the company on the exchanges. READ

How Sebi’s trial run of same-day settlement for 25 stocks impacts you

There’s some good news for investors. Market regular Sebi is looking to move towards a “T+0” settlement cycle. Currently, settlements (when you receive or deliver the stocks/bonds you buy/sell) happen on T+2 (two days after the trade). Read

Better growth supports the case for small-caps in Asia: Jefferies

Better growth prospects for small-caps has made Jefferies bullish on this market segment in the Asian region. In the Indian context, it has highlighted 15 stocks as potential multibaggers. Read

Explained: Should smallcap funds’ stress-test results concern you?

Recently, the Securities and Exchange Board of India (Sebi) conducted a stress test on smallcap mutual funds in India. Think of it like a fire drill for your investments. The market regulator wanted to see if these funds could handle a situation where many investors suddenly wanted their money back (redemptions). Here’s the catch: smaller companies, which these funds often invest in, can be trickier to sell quickly compared to larger firms. Read

Reliance Infra hits 5-year high; stock zooms 41% in 3 days

Shares of Reliance Infrastructure hit a five-year high of Rs 260.80, as they rallied 10 per cent on the BSE in Monday’s intraday trade, on the back of heavy volumes. In the past three trading days, the stock has zoomed 41 per cent as the company signed a settlement agreement with ICICI Bank. The shares were quoting at their highest level since June 2019. Read

Public-sector banks asked to submit three-year business plans by March-end

The Centre on March 18 directed Public-Sector Banks (PSBs) to submit their business plans till 2026-2027 (FY27) by the end of March, The Economic Times reported. The proposed plans will then be assessed on a quarterly basis by government-nominated directors on the banks’ boards, the report said, citing an official. Read

Street Signs: Market on edge, unveiling fund manager strategies, and more

In addition to regulatory actions against small and midcaps, tighter liquidity conditions are another headwind that stocks are facing this month. Market observers say advance tax outflows and capital gains-related adjustments will weigh on the markets in the near term. Read

Torrent Power leaps 8%, nears 52-week high on 300 MW solar, wind project

Shares of Torrent Power surged 7.6 per cent to Rs 1,249.25 per share on the BSE in Monday’s intraday trade, in an otherwise volatile market, on the back of Rs 3,650-crore project win.
 

At 11:05 AM, shares of the company were ruling 5 per cent higher at Rs 1,219 per share as against 0.07-per cent dip in the benchmark S&P BSE Sensex. The stock’s intraday high was close to its 52-week high level of Rs 1,288.45, hit on March 11, 2024. Read