Stock market Update on Tuesday, March 19: The broader indices also weakened. Both BSE MidCap and SmallCap were down around 1 per cent each.
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Photo: Bloomberg
Stock market updates on March 19, 2024: Equity benchmark indices were trading with losses in Tuesday’s intra-day trades amid tepid global mood as investors awaited cues from the upcoming US Federal Reserve meeting later tomorrow.
The S&P BSE Sensex was down over 500 points at 72,200 levels. The NSE Nifty 50 was seen quoting below the 21,900 levels.
TCS slipped 3 per cent to Rs 4,030 amid reports that Tata Sons was to divest a 0.65 per cent stake (23.4 million shares) via block deal at a floor price of Rs 4,001 per share today.
Nestle India, NTPC, Bajaj Finserv, Maruti Wipro, Reliance Industries and Larsen & Toubro were the other notable losers among the Sensex 30, down over 1 per cent each. On the other hand, Tata Steel gained another 1.5 per cent.
The broader indices also weakened. Both the BSE MidCap and SmallCap indices were down around 1 per cent each.
Shares of oil marketing companies were seen extending fall for the third straight trading session following the recent Rs 2 per litre price cut in petrol, diesel prices.
11:55 AM
Nifty FMCG declines 2%, HUL hits 52-week low: What’s behind the selling?
Shares of fast moving consumer goods (FMCG) companies were reeling under selling pressure on Tuesday amid concerns of rising input costs hitting margins.
The Nifty FMCG index declined 1.7 per cent to 52,940 level in the intraday trade, dragged by Nestle India (down 3.3 per cent), Colgate Palmolive (3.25 per cent), Godrej Consumer Products (3 per cent), United Breweries (2.4 per cent), Tata Consumer Products (2.38 per cent), and United Spirits (2 per cent). Read
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11:41 AM
JBM Auto surges 10% as arm bags Rs 7,500 cr order for 1,390 electric buses
Shares of JBM Auto surged 10 per cent on BSE to Rs 2,060.60 in Tuesday’s intra-day trade after the company’s arm bagged an order for 1,390 electric buses from Convergence Energy Services (CESL) worth nearly Rs 7,500 crore. Read
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11:31 AM
Ashok Leyland partners with Minus Zero to develop self-driving trucks
Indian automaker Ashok Leyland has partnered with Minus Zero to develop self-driving trucks, the autonomous driving technology startup said on Tuesday. The self-driving trucks will initially be developed for ports, factories and corporate campuses, the Bengaluru-based Minus Zero said in a statement. Read
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11:15 AM
BPCL, HPCL, IOC down for 3rd straight day; slip upto 25% from 52-week highs
Shares of state-owned oil marketing companies (OMCs) continued to remain under pressure, falling another 4 per cent on the BSE in Tuesday’s intra-day trade.
In past three days, Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) have delcined between 8 per cent and 11 per cent on concerns that government’s decision to cut retail prices of petrol and diesel could hurt the companies’ profit margins in the near-term. Read
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11:03 AM
Domino’s, Subway supplier Chatha Foods’ SME IPO opens today: Check details
The initial public offering of small and medium enterprise (SME) Chatha Foods will open for public subscription on Tuesday, March 19 and close on Thursday, March 21. The price band for the offer is Rs 53-56 and the company is aiming to raise Rs 34 crore via a fresh issue of nearly 6 million shares. Read
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10:44 AM
Poonawalla Fincorp announces appointment of Arvind Kapil as MD & CEO
Non-Banking Financial Company (NBFC) Poonawalla Fincorp on Monday announced the appointment of Arvind Kapil as Managing Director (MD) & Chief Executive Officer (CEO) of the company.
The current MD & CEO of the company, Abhay Bhutada, has been elevated to a group-level role and will be taking up a strategic position at the Cyrus Poonawalla Group, managing its strategy, investment, and finance. He will continue to serve as a non-executive director on the board of Poonawalla Fincorp. Read
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10:31 AM
Popular Vehicles and Services makes weak debut, falls 8% post listing
Popular Vehicles and Services made a weak stock market debut on Tuesday, with its shares getting listed at Rs 289.20, a 2 per cent discount to its issue price of Rs 295 per share on the National Stock Exchange (NSE). The stock of the auto dealer company listed at Rs 292 on the BSE. Read
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10:14 AM
Market Check: Sensex sharpens slide; down over 500 pts
10:01 AM
TCS slips 3% after 21 mn shares change hands in block deals on BSE
Shares of Tata Consultancy Services (TCS) slipped 3 per cent to Rs 4,021.25 on the BSE in Tuesday’s intra-day trade after nearly 21 million shares changed hands via block deals.
At 09:15 am; around 20.93 million equity shares representing 0.58 per cent of total equity of TCS changed hands on the BSE, the exchange data shows. Till 09:43 am; around 25.13 million shares were traded on the BSE. The names of the buyers and sellers were not ascertained immediately. Read
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9:47 AM
Genesys International gains 2% on winning order of Rs 156 crore
Its consortium with Veritas (India) has received a letter of award (LoA) for a project worth Rs 156 crore from the BMC.
9:42 AM
HG Infra rises 3% as its JV wins project worth Rs 1,026 crore
The company in a JV with Stockwell Solar Services has received a LoA for a project worth Rs 1,026 crore from Jodhpur Vidyut Vitran Nigam.
9:40 AM
L&T Finance up 1%; board approves Rs 1 tn fundraise via NCDs
Its board has approved raising up to Rs 1.01 lakh crore via NCDs in one or more tranches.
9:38 AM
AB Sun Life AMC falls nearly 2% as promoters to sell stake via OFS
Its promoters will divest 11.47 per cent stake (33 million shares) in the company through the offer-for-sale (OFS) route from March 19-20, 2024. The floor price for the OFS has been set at Rs 450 per share.
9:36 AM
Tata Steel rises 2% in weak trade; UK arm to cease coke ovens ops in Wales
Tata Steel UK said it will cease operations of the coke ovens at the Port Talbot plant in Wales after a deterioration of operational stability. It said it will increase coke imports to offset the impact of the coke oven closures.
9:33 AM
IOL Chemicals soars 6% as Brazil health regulator completes GMP audit
It has successfully completed Brazilian Health Regulatory Agency’s (ANVISA) GMP audit of all its 10 API units in Punjab with no observations.
9:28 AM
TCS drops 3% after 0.6% equity change hands
Tata Sons was to divest a 0.65 per cent stake in TCS on Tuesday in the open market by offloading 23.4 million shares at a floor price of Rs 4,001.
9:27 AM
Metal, PSBs in green; IT index top loser
9:24 AM
SmallCaps hold ground in weak market
9:23 AM
BPCL, Apollo Hospital additional Nifty drag
9:22 AM
Adani Ent, UPL additional winners on Nifty
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First Published: Mar 19 2024 | 7:21 AM IST
