Rupee Extends Gains Against US Dollar
Rupee strengthened 31 paise to 87.04 a dollar
Intraday level is highest since July 30
It closed at 87.35 a dollar on Monday.
Source: Bloomberg
Stock Market LIVE: Alembic Pharma Gets US FDA Approval For Macitentan Tablets
Alembic Pharmaceuticals Ltd. received the US Federal Reserve approval for Macitentan tablets, 10 miligram. These tablets are used for treatment for pulmonary arterial, the company said in the exchange filing.
Stock Market LIVE: Coal India In Pact With Konkan Railway Corp To Develop Railway Structure
Coal India has signed a memorandum of understanding with Konkan Railway Corp to develop the company's rail infrastructure, the company said in the exchange filing.
Nifty To Hit 26,700 By June 2026: Citi Eyes 7% Upside On Festive-Led Consumption Revival
Citi has turned constructive on Indian equities, projecting a 7% upside in the Nifty 50 by June 2026, with a target of 26,700 driven by resilient macro fundamentals, supportive domestic flows, and a potential revival in consumption and credit demand.
Reliance Industries Share Price Gain 2% After Jio Base Tariff Rises
Shares of Reliance Industries Ltd. rose over 2% during early trade on Tuesday after Jio discontinued its entry-level recharge plan, leading to a rise in the base rate that will lead to higher average revenue.
Jio has discontinued its entry-level 1GB per day recharge plans of Rs 209 (22 days) and Rs 249 (28 days). Subscribers will now have no choice but to move up to the next plan of Rs 299, which offers 1.5GB per day for 28 days.
Welspun Living, Vardhman Textile Gain As Stocks Surge After Cotton Import Duty Removal
Textile stocks including Vardhman Textile Ltd., Welspun Living Ltd., Gokaldas Exports Ltd. surged on Tuesday following a Gazette notification on removal of 11% duty on raw cotton.
Shares of Vardhman Textile rose as much as 9.38% to Rs 447.80 apiece, closely followed by Welspun Living shares which spiked 6.40% intraday to trade at Rs 124.6 apiece.
White Goods Firms Brace For Deferred Purchases As Shoppers Await GST Cut
Manufacturers of air-conditioners to televisions are bracing for a lull in demand over the next two months as consumers await a possible GST rate cut from 28% to 18%. Industry executives say revised tax rates, if announced around Diwali in Oct., could spur a surge in purchases later in the festive season, especially when paired with offers and easy financing.
Stock Market LIVE: Glenmark Pharma's US Unit Launches Drug To Treat Fungal Infection
Glenmark Pharma's US arm launched Micafungin for injection in September, the company said in the exchange filing.
JSW Cement Gets 'Neutral' Rating As Motilal Oswal Initiates Coverage
Motilal Oswal initiated coverage on JSW Cement with a Neutral rating and a target price of Rs 163.
Over FY25-28E, the brokerage estimates a CAGR of 19%/31% in revenue/Ebitda, led by volume.
It should report a profit of ~Rs 3 billion in financial year 2026, the brokerage said.
Vedanta Board To Consider Second Interim Dividend This Week — Check Record Date
Vedanta Ltd. board will meet on Thursday, Aug. 21, to consider and approve a second interim dividend on equity shares for the financial year 2026. The record date to determine the entitlement of equity shareholders for the dividend, if declared, is Wednesday, Aug. 27.
Given India's T+1 settlement cycle, shares purchased on the record date (Aug. 27 in this case) will not be eligible for the dividend payment. Therefore, investors who own shares by Aug. 26 will be the beneficiaries.
Sectoral Performance At Open: Nifty Oil & Gas Leads Gains
On National Stock Exchange, 10 sectoral indices advanced, four declined, and one remained flat out of 15.
Nifty Contributors: RIL, Airtel And NTPC Support Gains
Reliance Industries Ltd., Bharti Airtel Ltd., NTPC Ltd., Infosys Ltd., and Jio Finance Ltd. added to the NSE Nifty 50 index.
HDFC Bank Ltd., Mahindra & Mahindra Ltd., Axis Bank Ltd., Bharat Electronics Ltd., and Bajaj Finance Ltd. weighed on the NSE Nifty 50 index.
Stock Market LIVE: Nifty, Sensex Extend Gains
The NSE Nifty 50 and BSE Sensex extended gains tracking a rise in Reliance Industries Ltd. and Bharti Airtel Ltd. The indices were trading 0.15% and 0.20% higher, respectively as of 9:21 a.m.
Stock Market Today: Nifty, Sensex Rise At Pre-Open
The NSE Nifty 50 was trading 0.06% or 14.40 points higher at 24,891.35, and the BSE Sensex was trading 45.37 points or 0.06% higher at 81,319.12.
Rupee Opens Stronger Against US Dollar
Rupee opened 10 paise stronger at 87.25 a dollar
It closed at 87.35 a dollar on Monday.
Source: Bloomberg
SoftBank To Invest $2 Billion In Intel As Part Of US Push
SoftBank Group Corp. agreed to buy $2 billion in Intel Corp. stock, a move that extends its US investment effort and offers a vote of confidence in the struggling chipmaker.
SoftBank will pay $23 a share for Intel common stock, according to a joint statement Monday. The agreement, which the companies described as a move to “deepen their commitment” to US chip innovation, will be subject to customary closing conditions.
Stock Market LIVE: GIFT Nifty Extends Losses
The GIFT Nifty was trading 0.22% or 54 points lower at 24,958.80 as of 8:18 a.m. This implied the NSE Nifty 50 may open around 10 points lower than its previous close.
Stock Market LIVE: Inox Wind To Sell Around 3% Stake In Inox Renewable Solutions
Inox Wind Energy will likely sell around 3% stake in Inox Renewable Solutions for approximately Rs 175 crore. The stake will reduce to 88.8% from 91.9%, the company said in the exchange filing.
Stock Market LIVE: Bernstein On Axis Bank
Maintain Outperform and cut target price to Rs 1250 from Rs 1,330
Once viewed as a clear turnaround story closing the gap with larger peers
Axis has experienced stagnation over the past 1–2 years
Not only its stock price but also across key operating metrics stagnated
Remain hopeful of near-term improvement in asset quality and at least stable deposit market share
Assumptions that are sufficient to support the case for a value buy at current valuations
Asia Market Update LIVE: Hang Seng, KOSPI And S&P ASX 200 Fall
Asia-Pacific markets logged losses early trade Tuesday, tracking a decline in US stocks. Market participants remained cautious ahead of Jacksone Hole meeting, US Federal Reserve policy outcome, and developing negotiations between US, Ukraine, and Russia on the ongoing war.
The Hang Seng and KOSPI indices declined 0.23% and 0.38% down, respectively as of 7:49 a.m.
US Market Update: S&P 500 And Nasdaq 100 Futures Decline
US futures declined in Asia session. Market participants await Jackson Hole annual symposium and a earnings report from major retailers in the US.
The S&P 500 and Nasdaq 100 futures were trading 0.07% and 0.08% down, respectively as of 7:45 a.m.
LIVE: GIFT Nifty Implies Positive Opening; RIL, Trent, Hindustan Zinc Shares In Focus
Good morning, welcome to NDTV Profit's blog for live market coverage.
The GIFT Nifty was trading 0.03% or 7.50 points lower at 25,005 as of 6:34 a.m. This implied the benchmark NSE Nifty 50 index may open higher, as the levels are still above Nifty 50's last close.
Reliance Industries Ltd., Hindustan Zinc Ltd., Trent Ltd., Vedanta Ltd., and Jana Small Finance Bank Ltd. shares are in focus because of the news flow overnight.
The benchmark equity indices closed higher on Monday, Aug. 18. Shares of Maruti Suzuki, Hero MotoCorp and and Bajaj Auto contributed positively to the index.
The NSE Nifty 50 ended 245.65 points or 1% higher at 24,876.95 and the BSE Sensex ended 676 points or 0.84% up at 81,273.75
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