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 Market watchers have their eyes glued to today’s session as volatility and opportunities unfold in real time. Our Market Live blog brings the latest updates on Sensex, Nifty, midcaps, and smallcaps with a spotlight on key movers. Through Stock Market Live reporting , we cover global cues, investor sentiment, and breaking news that could impact your portfolio. Don’t miss the pulse of the market

Tata Power's power distribution companies have invested Rs 4,245 crore in the last 3-4 years in infrastructure expansion and network upgrades in Odisha. Tata Power 's power distribution companies have invested Rs 4,245 crore in the last 3-4 years in infrastructure expansion and network upgrades in Odisha. The company operates four Discoms, TP Central Odisha Distribution (TPCODL), TP Western Odisha Distribution (TPWODL), TP Southern Odisha Distribution (TPSODL), and TP Northern Odisha Distribution Limited (TPNODL), in a joint venture with the Government of Odisha, which collectively Serving a customer base of over 9 million. The total investment, Rs 1,232 crore has been allocated through various government schemes. The company said this includes laying 2,177 circuit kilometers (Ckms) of 33 kilovolt (KV) lines and 19,809 Ckms of 11 KV lines as well as adding 30,230 distribution transformers to improve the reliability of the distribution network in rural and urban areas. 166 new p...

  Did you know that at times a wrong entry on a keyboard by a stressed trader can also bring down shares of any mighty company? It is known as fat finger syndrome. Let us know more about it. It was one such wild swing at the National Stock Exchange -- triggered by a fat finger-- which had catapulted Chitra Ramakrishna to the helm of India's biggest bourse in April, 2013. On October 5, 2012, the so-called “fat finger trade” had triggered a massive flash crash wiping off about Rs 10trillion of investors' wealth at NSE . NSE CEO Ravi Narain had to pay the price and the baton was passed to Ramakrishna, who later got consumed by another bizarre scandal. Moving on, last week the derivative segment on the National Stock Exchange witnessed a freak trade in the weekly Nifty 50 options contract, reportedly resulting in a loss of nearly Rs 200 crore for the trader. This is not just a one-off instance. There have been such freak trades -- caused by human error. Th...

  Cryptocurrencies are subject to patchy regulation across the world, with traders of bitcoin and the panoply of smaller tokens typically unprotected against price slumps Nofe Isah, a 25-year old based in Nigeria, has been investing in crypto since January. Last week, she lost all of her $5,000 in savings as  cryptocurrency  luna went into free fall. Isah, a recently unemployed administrative officer, vowed she would never invest in crypto again. “I can’t believe I fell for crypto,” she told Reuters by phone. “I’m just trying not to get myself depressed. Crypto has taken my money, fine. It shouldn’t take my head.†The crypto market, known for its wild price swings, slumped last week as investors yanked money from riskier assets amid worries over soaring inflation and rising interest rates. Bitcoin, the world’s largest cryptocurrency, fell as low as $25,401 on Thursday, its lowest since Dec. 2020. It hit a record high of $69,000 in November. Small tokens were hit too, wit...

  Retail investor portion subscribed 91%, HNI 20%; institutional investor category received negligible bids Paradeep Phosphates ’ initial public offering (IPO) was subscribed 51 percent on Wednesday, a day before its close. The retail investor portion of the issue was subscribed 91 percent, the high-networth individual (HNI) portion was covered 20 percent and institutional investor category had received negligible bids. Paradeep Phosphates is India’s second-largest private sector manufacturer of phosphatic fertilizers. The company’s IPO comprises Rs 1,004 crore fresh fund raise and an offer for sale of Rs 498 crore. The price band for the issue is Rs 39-42 per share. At the top-end, the company is valued at Rs 3,421 crore. The price-to-earnings (P/E) ratio works out to 7.1 times based on FY22 annualised earning per share of Rs 5.94, nearly half the industry average P/E of 14 times. Ethos IPO subscribed 27% on day 1 Luxury watch retailer Ethos’ initial public offer...

Shares of LIC were trading at a discount of Rs 15-20 a piece over its issue price of Rs 949 in the grey market ahead of its listing on Tuesday, May 17. LIC IPO Listing :  The declining risk appetite of investors amid rising rates and inflation continue to play spoilsport across markets. With persistent bears hammering, the prospects of a decent listing of LIC has diminished, as per trends in the grey market. Shares of LIC were trading at a discount of Rs 15-20 a piece over its issue price of Rs 949 in the grey market ahead of its listing on Tuesday, May 17. In the unofficial market, the grey market premium (GMP) of LIC has shed over 100 percent from its peak level of Rs 85-90 a share quoted on May 1. The LIC GMP wiped off gains and traded flat on May 9, at Rs 5-10 a share, and has remained in the negative territory, i.e. Rs (-) 25-30 a share since May 9. Analysts, too, expect the lackluster listing of the insurance behemoth as markets enter the bearish zone, and as foreign investo...

The Adani Group announced the acquisition of Swiss cement major Holcim's stake in all its Indian operating entities for $10.5 billion (around Rs 81,361 crore), including the open offers. Shares of Ambuja Cement and ACC rallied up to 8 percent on the BSE in Monday’s intra-day trade after the Adani Group announced the acquisition of Swiss cement major Holcim's stake in all its Indian operating entities for $10.5 billion (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, said that it has entered into definitive agreements for the acquisition of Holcim Ltd’s entire stake in two of India’s leading cement companies -- Ambuja Cements and ACC. Holcim, through its subsidiaries, holds 63.19 percent in Ambuja Cements and 54.53 percent in ACC (of which 50.05 percent is held through Ambuja Cements). Ambuja Cements and ACC currently have a combined installed production capacity of ~70 MTPA. Both Ambuja and ACC will benefit fr...

Investors' wealth tumbled over 5.91 lakh crore in morning trade on Monday tracking heavy decline in equities amid intensifying conflict between Russia and Ukraine. Continuing its decline for the fourth day on Monday, the BSE gauge plummeted 1,735.98 points or 3.19 per cent to 52,597.83, tracking weak global equities and elevated crude oil prices. In tandem with the heavy plunge in equities, the market capitalisation of BSE-listed companies plunged by Rs 5,91,094.71 crore to Rs 2,40,88,326.67 crore in morning deals. Maruti Suzuki India, Indusind Bank, State Bank of India and Axis Bank emerged as the biggest drag from the 30-share BSE Sensex pack, tanking up to 6.72 per cent. "The extraordinary uncertainty triggered by the war has pushed commodity markets into turmoil. Crude at USD 128 is a big shock. This can impact global growth and aggravate inflationary pressures. Market is slipping into bearish territory," according to V K Vijayakumar, Chief Investment Strategist at Ge...

The tension between world powers over the Ukraine situation, which has developed into one of the deepest crises in East-West relations for decades, has been front-and-centre of investors' minds. Asian shares rallied on Wednesday as fears of a Russian invasion of the Ukraine this week dissipated after Moscow indicated it was returning some troops to base from exercises, delivering investors a measure of relief. The tension between world powers over the Ukraine situation, which has developed into one of the deepest crises in East-West relations for decades, has been front-and-centre of investors' minds. MSCI's broadest index of Asia-Pacific shares outside Japan surged 0.9% in early regional trade on Wednesday, playing catch-up with a rally in U.S. and European stocks on Tuesday. "If we continue to see signs that diplomacy is working and a de-escalation of tensions, I think we'll see a kind of reversal trade," said Kyle Rodda, a market analyst at IG in Melbourne....

Buy recommendations on One 97 Communications Ltd., the operator of Paytm, climbed to four this week, up from just two at the start of the year India’s pioneering digital payments startup  Paytm  is gradually regaining the confidence of some analysts after it had one of the worst debuts by a major technology company less than three months ago. Buy recommendations on One 97 Communications Ltd., the operator of Paytm, climbed to four this week, up from just two at the start of the year, while sell ratings have remained unchanged at three, according to data compiled by Bloomberg. It’s the first time bulls outnumbered bears since the company’s disastrous initial public offering in Mumbai during November. In the most-recent vote of confidence, Goldman Sachs analysts led by Manish Adukia raised their rating to buy from neutral, after Paytm’s December quarter revenue surprised the market. The investment bank’s target price of 1,460 rupees implies a gain of more than 50% from Monday’s ...

The sustained boom in global tech spending, a revival of local housing demand and a rebound in bank earnings are expected to be among the key drivers of gains for India’s stock market this year Analysts remain bullish, projecting a rise of about 15% for the NSE Nifty 50 Index over the next 12 months, according to sell-side estimates compiled by Bloomberg. That’s on top of the gauge’s 138% rally from its March 2020 low, the best performance among the world’s major equity markets for this period. Despite some concerns about lofty valuations and a gradual unwinding of easy-money policies, India’s benchmark is among those leading gains in Asia so far in 2022 with an advance of more than 4%. –   Here are the top sector and stock picks, according to some leading brokerages: Technology A gauge of the nation’s top 10 software providers has more than tripled from its pandemic low, as the crisis spurred the transformation of the way the world does business. While India’...

The government taking a 35.8% holding in Vodafone Idea has surprised many. At a time when it looked poised to dilute its stakes in many public sector companies, the movie failed to excite the Street too, as the cash-strapped company’s shares dipped 21% yesterday. Experts also pointed out that ailing government-owned telecom giants MTNL and BSNL are also crying for attention. They are yet to roll out 4G services. In any case, the move might well provide Vodafone Idea with a rent of life. The third-biggest telecom transporter’s raising support plans are fundamentally postponed and Vodafone Group has made it clear it won’t make any new value imbuement into its Indian unit. Against this scenery, the public authority of India is set to turn into the single biggest investor in striving Vodafone Idea after the telco selected to change over revenue worth Rs 16,000 crore on conceded range liabilities and Adjusted Gross Revenue duty into value. It had recently acknowledged a four-year ban on the...

On December 20, Brickwork Ratings [BWR) had upgraded the long-term rating to BWR BBB with a Stable outlook and short-term rating to BWR A3+ for the bank loan facilities of RSTL Shares of Rama Steel Tubes (RSTL) hit a new high, and were frozen at the 5 per cent upper circuit at Rs 412.90 on the BSE on Thursday in an otherwise weak market on improved demand outlook. Since December 20, 2021, in 13 trading days, the stock of iron & steel products company has zoomed 89 per cent from levels of Rs 218.25. Till 09:48 am; a combined 328,160 equity shares had changed hands and there were pending buy orders for 116,485 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was down 1.3 per cent at 59,433. RSTL is Ieading manufacturer in the steel tube industry. RSTL products range includes MS ERW black pipes from 15mm to 200mm diameter pipes and G.l. Pipes from 15mm to 150mm NB in light, medium and heavy sizes. RSTL has a subsidiary in UAE and a step-down subsidiary in Nigeria which...

India imported 1,050 tn gold worth ($55.7 bn) in 2021, more than double of 2020. Last year's gold import surpassed the high recorded in 2011. Find out what is behind India's renewed rush for gold? Indians will build on their love for gold this year, as pent-up demand heralds a period of robust sales. This was the main finding in the World Gold Council’s recent report – The Drivers of Indian Gold Demand. The report stated that imports remain strong and retail demand was expected to pick up, when pandemic restrictions were lifted across the country. Data from the previous year illustrates this point. India spent a record $55.7 bn on gold imports in 2021, buying more than double the previous year’s tonnage. The 2021 gold import bill also surpassed the previous high of $53.9 bn in 2011. Gold’s price drop favoured retail buyers and there was strong pent-up demand for weddings in October last year. “Rising incomes are one of the biggest single drivers of long-term gold demand. This s...

Loss-making national carrier Air India was privatized last year. And the government is going ahead with LIC disinvestment this year. Find out the difference between these two terms The government sold Air India to the Tata group for Rs 18,000 crore last year. It got just 15% of the total amount while the rest went to the debtors. The Centre had been trying to offload its entire stake in the airline for years. And after the nod of the Cabinet Committee on Economic Affairs, the government is now taking LIC to the primary market to divest some of its stakes. The government says that it just wants to go for an IPO and not for privatisation. We have also heard our Prime Minister Narendra Modi saying that, “The government has no business being in business”. So the government’s intentions on privatisation and disinvestment are very clear. But are these two terms different? Let us start with disinvestment. It means the government or an organisation is liquidating or selling its stake in a comp...

India's unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed India's unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed on Monday. The unemployment rate rose to 7.9% in December from 7.0% in November, its highest since 8.3% in August. Economic activity and consumer sentiment have been hit in the South Asian nation after a rise in cases of the Omicron coronavirus variant and social distancing restrictions in many states. Urban unemployment rate rose to 9.3% in December from 8.2% in the previous month while the rural unemployment rate was up 7.3% from 6.4%, the data showed. Many economists worry that the Omicron variant could reverse the economic recovery seen in the previous quarter. Mumbai-based CMIE data on unemployment is closely watched by economists and policymakers as the government doesn't release monthly figures.   Unemployment Rate 02 J...

Union Finance Minister Nirmala Sitharaman will chair the 46th meeting of the GST Council in New Delhi today. Union Finance Minister Nirmala Sitharaman will chair the 46th meeting of the GST Council in New Delhi today. Union Ministers of State in the Ministry of Finance, Pankaj Chaudhary and Dr Bhagwat Kishanrao Karad will also attend the meeting. "FM Smt @nsitharaman will chair the 46th meeting of the GST Council in New Delhi, tomorrow. The meeting will be attended by MoS for Finance @mppchaudharyand @DrBhagwatKarad, besides Finance Ministers of States and UTs and Senior officers from Union Government and States," tweeted the Ministry of Finance on Thursday. This meeting holds importance ahead of the Union Budget which is presented on the first day of February by the Finance Minister in Parliament. This will be the fourth budget of the Prime Minister Narendra Modi-led NDA government in its second tenure. On Thursday, Nirmala Sitharaman chaired the pre-budget consultations wit...

The seized assets are in the form of shareholdings of Muthu alias MGM Maran in four Indian companies The Enforcement Directorate (ED) on Tuesday said it has seized shares worth Rs 293.91 crore of former Tamil Nadu Mercantile Bank Limited Chairman Nesamanimaran Muthu in connection with a probe against him linked to alleged contravention of the FEMA law. The seized assets are in the form of shareholdings of Muthu alias MGM Maran in four Indian companies: Southern Agrifurane Industries Private Limited, Anand Transport Private Limited, MGM Entertainment Private Limited and MGM Diamond Beach Resorts Private Limited. The agency said in a statement that Muthu had incorporated two companies in Singapore during 2005-06 and 2006-07 financial years and invested SGD 5,29,86,250 (equivalent to Rs 293.91 crore). "This investment was made without taking approval from the RBI. Further, the source of such a huge investment abroad was not disclosed to the Indian regulators," the agency said. S...

Return on assets of SCBs improved from 0.2 per cent at end-March 2020 to 0.7 per cent at end-March 2021, aided by stable income and decline in expenditure, states the report The Reserve Bank of India on Tuesday released a report on "Trend and Progress of Banking in India 2020-21". "This Report presents the performance of the banking sector, including co-operative banks, and non-banking financial institutions during 2020-21 and 2021-22 so far," said RBI in a statement. Highlights of the report: * During 2020-21, the consolidated balance sheet of scheduled commercial banks (SCBs) expanded in size, notwithstanding the pandemic and the resultant contraction in economic activity. In 2021-22 so far, nascent signs of recovery are visible in credit growth. Deposits grew by 10.1 per cent at end-September 2021 as compared with 11.0 per cent a year ago. * Capital to risk weighted assets (CRAR) ratio of SCBs strengthened from 14.8 per cent at end-March 2020 to 16.3 per cent at ...