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Benchmarks trade sideways; media shares advance for 2nd day
At 11:30 ST, the barometer index, the S&P BSE Sensex, added 55.16 points or 0.08% to 75,926.16. The Nifty 50 index fell 17.95 points or 0.08% to 23,889.20.
HDFC Bank ends lower amid reports of alleged irregular payments to MSRDC
HDFC Bank declined 2.63% to settle at Rs 758.50 following media reports alleged that the bank had made unauthorized payments to a state government agency, MSRDC to attract deposits.
Quick Wrap: Nifty Media Index records a surge of 3.05%
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Top Gainers & Losers on May 27: JP Power Ventures, Adani Total Gas, HFCL, Swiggy, Suzlon Energy among top gainers
On May 27, the Indian stock market showed little movement amidst US-Iran conflict uncertainty. The Nifty 50 closed down 0.03%, and the Sensex fell 0.19%. Sector performance varied, with Nifty Media rising 3% and Nifty Private Bank among the top decliners.
LIC drops after reports of government stake dilution
Life Insurance Corporation of India (LIC) declined 3.32% to Rs 826.80 after media reports indicated that the government is likely to divest a 2% stake in the state-run insurer through an institutional placement in late June or early July.
India quick commerce still has room to grow despite rising competition: UBS
Navin Killa, Head of APAC Telecommunications, Media & Internet at UBS Investment Bank said quick commerce has not yet reached a stage where only the strongest players will survive. Discounting, he added, remains a customer acquisition tool, particularly for first-time users who may still be hesitant to try the format.
HDFC Bank 'strongly' rejects Rs 45 cr payment route wrongdoing
HDFC Bank has strongly denied media reports alleging wrongdoing. The bank stated its internal oversight, audit, and control systems are robust. This clarification follows a report about an internal investigation into Rs 45 crore payments. The payments were reportedly disguised as marketing expenses to a public sector undertaking. HDFC Bank maintains its commitment to transparency and strong governance.
Hathway Cable & Datacom Ltd spurts 2.36%, up for third straight session
Hathway Cable & Datacom Ltd is quoting at Rs 10.83, up 2.36% on the day as on 12:49 IST on the NSE. The stock is down 30.22% in last one year as compared to a 3.32% fall in NIFTY and a 16.47% fall in the Nifty Media index.
Zee Entertainment Enterprises Ltd soars 10.41%
Zee Entertainment Enterprises Ltd is quoting at Rs 91.4, up 10.41% on the day as on 12:49 IST on the NSE. The stock is down 28.79% in last one year as compared to a 3.32% drop in NIFTY and a 16.47% drop in the Nifty Media index.
AIA Engineering shares surge as Street cheers 38% profit jump; company to pay ₹16 dividend
AIA Engineering highlighted that anti-dumping and countervailing duties imposed by the United States on certain high chrome grinding media imports from India remain effective from June 12, 2025. The duties include a 3.16% countervailing duty and 6.91% anti-dumping duty.
Markets may have bottomed out; Nifty could head towards 25,800: Rohit Srivastava
Rohit Srivastava, Founder of Indiacharts & Strike Money, believes Indian markets have likely formed a bottom and could gradually move higher over the next few months, with Nifty potentially heading towards 25,800. He remains bullish on Bank Nifty after a technical breakout and sees strength returning to broader markets through improving liquidity. Srivastava remains cautious on IT stocks despite short-term trading opportunities, while Reliance Industries and select private banks continue to show improving trends.Disclaimer: Network18 and TV18, the companies that operate CNBC-TV18, are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Asian shares, oil prices mixed as US strikes in Iran cloud peace talks
Shares were mixed Tuesday in Asia after the US military said it carried out what it called "self-defence" strikes in southern Iran, including on missile launch sites and boats placing mines. The attacks came even as President Donald Trump said on social media that negotiations on ending the war were "proceeding nicely." US futures jumped. Oil prices were mixed, with Brent crude trading below USD 95 a barrel. The US military said the strikes Monday were done "to protect our troops from threats posed by Iranian forces." It said it used restraint due to the ceasefire with Iran, which gave no official response. Further details were not immediately available, including more specifics on threats from Iran and what this means for negotiations. With the status of peace talks with Iran unclear, markets have been swayed by various developments and comments by Trump. "Markets are behaving as though a full Iran breakthrough already exists, even though the hardest parts of the negotiation rema