Market News
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Ajanta Pharma promoter sells ₹1,024 crore stake; mutual funds step in as buyers
A promoter entity of Ajanta Pharma has sold a 2.8% stake in the drugmaker for over ₹1,000 crore through a block deal, with Kotak Mahindra Mutual Fund and Aditya Birla Sun Life Mutual Fund emerging as the key buyers.
Promoter sells Rs 1,024 crore worth of Ajanta Pharma shares in block deal to Kotak MF and ABSL MF
A promoter entity of Ajanta Pharma sold shares worth over Rs 1,024 crore through a block deal, with Kotak Mahindra Mutual Fund and Aditya Birla Sun Life Mutual Fund acquiring the stake. The transaction comes amid strong earnings growth, healthy margins and sustained momentum in the company’s pharmaceutical business.
TCS, Wipro to Infosys: IT stocks bleed on AI and tech stocks selloff in global markets; Nifty IT dips 2%
The Nifty IT Index decreased by 2% on June 8, primarily due to significant losses in major stocks, particularly Wipro. Conversely, Tech Mahindra and a few others showed gains, helping to soften the index's drop.
Stocks in news: Tata Steel, ICICI Bank, Tata Motors, Vedanta, Maruti Suzuki
Indian markets traded cautiously on Thursday's weekly expiry, with analysts observing a continued tussle for direction in the Nifty. Key companies like Tata Steel, Tata Motors, ICICI Bank, Vedanta, and Maruti Suzuki are in focus due to significant business updates and regulatory developments.
'Hero will benefit if fuel efficiency is top of mind': Hero MotoCorp CEO
Hero MotoCorp reports no domestic demand slump despite global challenges. The company is aggressively expanding its operations. CEO Harshavardhan Chitale expresses confidence in India's economic resilience. Hero MotoCorp is focusing on growing segments like scooters, premium motorcycles, and electric vehicles. Significant capital expenditure is planned for capacity expansion and new product launches in domestic and international markets.
Groww, Lenskart, 9 other stocks among Motilal’s non-Nifty ideas. Check full list
Motilal Oswal has revealed its top non-Nifty stock picks. The brokerage anticipates robust earnings growth for these companies. Key names include ICICI Prudential AMC, TVS Motor, and Dixon Technologies. Delhivery shows the highest projected earnings expansion. Investors can explore these opportunities for potential gains.
Stocks to buy: Sagar Doshi suggests Cyient, Timken India, JBM Auto shares to buy
Indian equity markets opened lower on June 2, with the Nifty 50 down 0.66% and the Sensex falling 0.43%. Concerns over the Middle East conflict and foreign investor selling contributed to the decline, with significant losses in major sectoral indices and the broader market.
Top Gainers & Losers on May 25: HFCL, Adani Power, Eicher Motors, OLA, Tata Motors, HPCL among top gainers
Indian markets ended May 25 with strong gains, as Nifty 50 rose 1.4% and BSE Sensex climbed 1.42%, driven by falling oil prices and optimism for a US-Iran peace deal. Broader indices also showed positive trends amidst improved risk sentiment.
The Great Consumption Reset: How a billion Indians changed what they buy
India's consumption landscape is evolving, with consumers favouring experiences, digital services, and premium products over basic goods. Kotak Mutual Fund's report shows a surge in foreign travel spending and premium smartphone sales, indicating a shift towards higher-value purchases.
Q4 Results LIVE Updates: Max Health shares decline 7%, Honasa Consumer up 7%; Hindalco report today
Q4 Results Live Update: Another busy earnings week ends with three Nifty names - Sun Pharma, Eicher Motors and Hindalco reporting their results today, along with broader market names like Torrent Pharma, Fortis Healthcare, DAM Capital, Colgate-Palmolive, IRCON International, Jubilant Pharmova, Minda Corp, and many others. LG, LIC, GAIL, ITC, will also be reacting to their results reported on Thursday.
Mukesh Ambani's RIL-led $4 billion Jio IPO hits roadblock on US-Iran war impact: Report
Jio’s listing, the first public offering by a major Reliance unit in nearly two decades, would be a landmark event for India’s struggling capital markets. The plan got a major boost in March, when the government approved changes to listing requirements to facilitate the biggest deals.
Stocks in news: ITC, Nykaa, Lenskart, Ola Electric, IndusInd Bank
Markets saw a volatile session with Nifty trading below the 23,800-24,000 resistance zone, though select heavyweight buying limited downside. Several companies like ITC, Nykaa, and IndusInd Bank are in focus due to Q4 results and news developments, including Lenskart's profit decline and Dr. Reddy's new diabetes drug launch.