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Tag: nifty 50

HDFC Bank opens branch in Kavaratti island, 1st private lender to do so | Company News
10Apr By adminNo Comments
Business

HDFC Bank opens branch in Kavaratti island, 1st private lender to do so | Company News

HDFC Bank | Image credits: Bloomberg Largest private sector lender HDFC Bank on Wednesday inaugurated a branch in Lakshadweep's Kavaratti island. The bank becomes the first private sector lender to have a presence in Lakshadweep, according to a statement. The bank seeks to serve customers wherever they are and looks forward to serving the financial needs of individuals, families, and businesses in Lakshadweep, the bank's retail branch banking group head S Sampathkumar said. The branch was inaugurated by Captain Lovekesh Thakur, Commanding Officer, Indian Navy and K P Muthukoya, a well-known resident, in the presence of bank officials, the statement said.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest ...
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HCLTech announces alliance with Google Cloud to scale Gemini to global cos | Company News
3Apr By adminNo Comments
Business

HCLTech announces alliance with Google Cloud to scale Gemini to global cos | Company News

IT services firm HCL Technologies (HCLTech) on Wednesday said it has expanded alliance with Google Cloud to create industry solutions by using the US tech giant's multimodal large language AI model, Gemini. HCLTech will familiarise and train its 25,000 engineers on Gemini for Google Cloud to help mutual clients innovate and optimise their businesses with GenAI (generative AI), according to a release. With this, HCLTech can offer expertise and technical skill sets that customers require for deploying and managing GenAI projects. HCLTech will enable 25,000 engineers on Google Cloud's latest GenAI technology to support clients at various stage of their AI projects, including the development of new use cases and capabilities for HCLTech platforms and product offeri...
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Sebi eases rules to aid small NGOs raise funds
26Nov By adminNo Comments
Business

Sebi eases rules to aid small NGOs raise funds

Minimum Issue Size On Social Bourses Cut To 50LMUMBAI: The board of Sebi on Saturday relaxed some of the guidelines for small not-for-profit organisations (NPOs) and non-government organisations (NGOs) to tap the social stock exchanges (SSEs) to raise funds, including halving the minimum fund-raising size to Rs 50 lakh. The board also approved a regulatory framework for index providers “with the objective of fostering transparency and accountability in governance and administration of financial benchmarks in the securities market,” the market regulator said in a release.Sebi board also allowed small and medium real estate investment trusts (SM REITs), with a minimum asset value of Rs 50 crore, to tap the public market to raise funds.Currently, REITs are allowed for entities with an asset ...
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Sensex rises by 354 pts, Nifty closes above 19,500 in Mahurat session
12Nov By adminNo Comments
Business

Sensex rises by 354 pts, Nifty closes above 19,500 in Mahurat session

MUMBAI: Benchmark stock indices Sensex and Nifty closed higher by more than half a per cent in the special Mahurat trading session on Sunday driven by across-the-board buying by investors. The 30-share BSE Sensex rose by 354.77 points or 0.55 per cent to close at 65,259.45 with 28 of its components settling in the green on the first trading session of Samvat 2080. The broader Nifty50 of the National Stock Exchange advanced 100.20 points or 0.52 per cent to settle at 19,525.55 led by gains in IT, infra and energy shares. As many as 43 Nifty50 stocks ended in green while seven in red. Muhurat trading is a one-hour, symbolic trading session conducted by Indian stock exchanges on Diwali, a Hindu festival considered auspicious for new beginnings, including investments. Buyers flooded Dalal Str...
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Indian Oil posts Q2 profit vs yr-ago loss on strong refining margins
31Oct By adminNo Comments
Business

Indian Oil posts Q2 profit vs yr-ago loss on strong refining margins

A logo of Indian Oil is picture outside a fuel station in New Delhi | Photo: Reuters Indian Oil Corp Ltd (IOC) reported a profit for the second-quarter on Tuesday, compared to a loss year ago, as the country's top refiner benefited from higher refining margins. The state-owned company posted a net profit of Rs 12,967 crore ($1.56 billion) for the quarter ended Sept 30, compared with a loss of Rs 272 crore a year earlier. ($1 = 83.2404 Indian rupees)   (Reporting by Sethuraman NR in Bengaluru; Editing by Savio D'Souza)(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)First Published: Oct 31 2023 | 3:03 PM IST
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Net profit jumps 36% to Rs 10,261 cr, NII up 24%
21Oct By adminNo Comments
Business

Net profit jumps 36% to Rs 10,261 cr, NII up 24%

Interest earned by the bank improved to Rs 34,920 crore from Rs 26,033 crore in the September 2022 quarter | Photo: Bloomberg Private sector lender ICICI Bank on Saturday reported a 36 per cent rise in standalone net profit to Rs 10,261 crore for the September 2023 quarter, aided by an improvement in interest income. The Mumbai-based lender had posted a net profit of Rs 7,558 crore in the year-ago period. The total income in the second quarter of the current fiscal rose to Rs 40,697 crore from Rs 31,088 crore in the same period a year ago, ICICI Bank said in a regulatory filing. Interest earned by the bank improved to Rs 34,920 crore from Rs 26,033 crore in the September 2022 quarter. Its net interest income (NII) increased by 24 per cent year-on-year to...
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Auto, energy sectors drag sensex, Nifty; small and mid-caps outperform
3Oct By adminNo Comments
Business

Auto, energy sectors drag sensex, Nifty; small and mid-caps outperform

BENGALURU: Indian shares closed lower on Tuesday, dragged by auto stocks on mixed sales data in September, while concerns over elevated interest rates also weighed on sentiment.The NSE Nifty 50 index settled 0.56% down at 19,528.75, while the S&P BSE Sensex fell 0.48% to 65,512.10.Auto stocks fell 1.20%, dragged by Eicher Motors shedding 2.68%, among the most on the blue-chip Nifty 50, after its September motorcycle sales fell 4%.Escorts Kubota, too, lost 1.73% after logging an 11.2% year-on-year decline in tractor sales in the month.State-run oil producer ONGC lost 3.78% and dragged the energy index 1.28% lower. The stock had gained 2.5% over the last two sessions.Asian equities slid to their lowest in 2023 after hawkish comments from US Federal Reserve Chair Jerome Powell and Vice C...
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Why Sensex, Nifty 50 Are Falling After A Record Run? 7 Key Factors Behind Selloff
21Sep By adminNo Comments
Business

Why Sensex, Nifty 50 Are Falling After A Record Run? 7 Key Factors Behind Selloff

Stock Market Today: D-Street investors faced a challenging day as both benchmark indices, the S&P BSE Sensex and NSE Nifty 50, experienced a sharp decline during early trading hours. The S&P BSE Sensex dropped to a low of 66,149, and was down around 650 points. The NSE Nifty50 was seen testing the 19,700 level.The 30-share index has slipped from 67,838 to 66,219, losing over 1,600 points in the last three sessions of this truncated week. Other key indices Nifty 50 and Bank Nifty have also witnessed selling pressure this week. Nifty lost over 450 points in the last three sessions, while Bank Nifty dropped around 1,200 points during this time.According to stock market experts, FIIs turning sellers, the US dollar gaining strength, the US Fed’s hawkish rate stance, and rising crude oi...
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Nifty down from record highs as small, mid caps stocks tumble
12Sep By adminNo Comments
Business

Nifty down from record highs as small, mid caps stocks tumble

On Tuesday, both of India's key stock indices, Nifty and Sensex, initially made gains but later retreated, primarily driven by declines in energy, metals, and automobile stocks.In the early part of the trading session, both indices had surged by over 0.5% each, with the Nifty achieving a new record high for the second consecutive session. However, as selling pressure materialized, Nifty and sensex slid from record highs and are trading lower.The fall in indices were larges led by small-caps and mid-caps. While small-caps fell over 4%, mid-caps were down over 2.5%.So far in 2023, the small-cap index has surged by 33.5%, and mid-cap stocks have seen a remarkable increase of 31.2%, in contrast to the Nifty 50's modest gain of 10%."The growing attraction towards small-cap and mid-cap equity m...
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Tata Steel in advanced talks to secure funds for UK plant: Reports
3Sep By adminNo Comments
Business

Tata Steel in advanced talks to secure funds for UK plant: Reports

Tata Steel is in advanced talks with the UK government to agree around GBP 500 million in state-backed funding to secure the future of its Port Talbot plant in South Wales, according to UK media reports this weekend. The Indian steel major has been in long-drawn discussions related to the critical green transition of the UK's largest steelworks, involving thousands of jobs in the country's steel industry. According to a Sky News' report on Saturday, both sides are now close to agreeing a deal that would commit millions to the future of the Port Talbot steelworks. "Tata Steel is continuing to discuss with the UK government a framework for continuity and decarbonisation of steel making in the UK amidst very challenging underlying business conditions given that se...
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