Indira IVF said to revive IPO plan that may raise Rs 3,500 crore
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Economic Times
22 minutes ago
- Economic Times
Stock market update: Nifty IT index advances 0.63%
NEW DELHI: The Nifty IT index closed on a positive note on Wednesday. ADVERTISEMENT Shares of Wipro Ltd.(up 2.1 per cent), Tech Mahindra Ltd.(up 1.84 per cent), LTIMindtree Ltd.(up 1.46 per cent), Infosys Ltd.(up 1.41 per cent) and Oracle Financial Services Software Ltd.(up 0.46 per cent) ended the day as top gainers in the pack. On the other hand, Coforge Ltd.(down 0.61 per cent), Tata Consultancy Services Ltd.(down 0.6 per cent), MphasiS Ltd.(down 0.28 per cent) and HCL Technologies Ltd.(down 0.23 per cent) finished as the top losers of the day. The Nifty IT index closed 0.63 per cent up at 37660.75. Benchmark NSE Nifty50 index ended up 16.25 points at 25212.05, while the BSE Sensex stood up 63.57 points at 82634.48. Among the 50 stocks in the Nifty index, 19 ended in the green, while 27 closed in the red. ADVERTISEMENT Shares of Vodafone Idea, JP Power, Network18 Media, Ola Electric Mobilit and YES Bank were among the most traded shares on the NSE. Shares of Deccan Cements, Magellanic Cloud, Fischer Chemic, Bluspring Enterprises Ltd. and Manaksia Coated hit their fresh 52-week highs in today's trade, while Stampede Cap(DVR), LCC Infotech, Vipul Ltd, HDB Financial Servic and Shriram EPC(PP)hit their fresh 52-week lows. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Business Standard
34 minutes ago
- Business Standard
Barometers end near flat line; Nifty closes above 25,200 mark
The key benchmark indices ended with small gains today, witnessing mild buying interest despite Donald Trump announced a 19% tariff on products that Indonesia sells to the United States. Further Trump said that US will have access to India, on similar lines as Indonesia-US trade deal. Investors will monitor the tariff development, and ongoing corporate earnings. Nifty settled above the 25,200 mark. PSU Bank, media and IT shares advanced while metal and pharma shares declined. As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 63.57 points or 0.08% to 82,634.48. The Nifty 50 index added 16.25 points or 0.06% to 25,212.05. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.10% and the S&P BSE Small-Cap index added 0.28%. The market breadth was negative. On the BSE, 1,915 shares rose and 1,969 shares fell. A total of 208 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.09% to 11.24. IPO Update: The initial public offer (IPO) of Anthem Biosciences received bids for 2,60,65,94,640 shares as against 4,40,70,682 shares on offer, according to stock exchange data at 15:39 IST on Wednesday (16 July 2025). The issue was subscribed 59.15 times. The issue opened for bidding on Monday (14 July 2025) and it will close on Wednesday (16 July 2025). The price band of the IPO is fixed between Rs 540 and 570 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof. Buzzing Index: The Nifty PSU Bank index jumped 1.81% to 7,267.20. The Index jumped 3.44% for the three straight trading sessions. Punjab National Bank (up 2.06%), Punjab & Sind Bank (up 2.02%), Canara Bank (up 1.98%), Indian Overseas Bank (up 1.92%) and Bank of Baroda (up 1.91%), UCO Bank (up 1.88%), Bank of India (up 1.82%), State Bank of India (up 1.72%), Union Bank of India (up 1.29%) and Indian Bank (up 1.22%) surged. Stocks in Spotlight: Network 18 Media & Investments jumped 11.17% after the company reported a standalone net profit of Rs 516.17 crore in Q1 FY26 as against a net loss of Rs 74.65 crore posted in Q1 FY25. However, revenue from operations tanked 4.9% year-on-year (YoY) to Rs 430.40 crore in the quarter ended 30 June 2025. ICICI Lombard General Insurance Company declined 1.25%. The company reported standalone net profit of Rs 747.08 crore in Q1 FY26, up 28.72% as against Rs 580.37 crore posted in Q1 FY25. Total income rose 13.66% year on year to Rs 6,083.36 crore in the quarter ended 30 June 2025. Just Dial tumbled 4.90%. The company reported a 13.05% jump in standalone net profit to Rs 159.65 crore on a 6.16% increase in revenue from operations to Rs 297.86 crore in Q1 FY26 over Q1 FY25. HDB Financial Services slipped 2.94% after the company reported a 2.40% decline in net profit to Rs 567.70 crore, despite a 14.97% increase in total revenue from operations to Rs 4,465.40 crore in Q1 FY26 compared to Q1 FY25. HDFC Life Insurance Company shed 0.17% after the companys standalone net profit jumped 14.40% to Rs 546.46 crore on 15.63% increase in net premium income to Rs 14,466.09 crore in Q1 FY26 over Q1 FY25. Jindal Steel & Power (JSPL) fell 1.22% after the company announced that its chief financial officer, Mayank Gupta, has stepped down from his role, effective post business hours on 15 July 2025. Hathway Cable & Datacom jumped 5.45% after the companys consolidated net profit surged 68.92% to Rs 31.03 on a 5.55% increase in revenue from operations to Rs 530.50 crore in Q1 FY26 over Q1 FY25. State Bank of India (SBI) rose 1.81% after the lender announced that its Central Board has approved raising up to Rs 20,000 crore through Basel III compliant Additional Tier 1 and Tier 2 bonds in FY26. Dixon Technologies (India) rose 1.76% after the company announced two major strategic agreements aimed at strengthening its presence in Indias electronics component ecosystem. In the first deal, the company signed a binding term sheet to acquire a 51% stake in Q Tech India. Further, the company also entered into a binding term sheet with Chongqing Yuhai Precision Manufacturing Co. to form a joint venture in India. Under the proposed structure, Dixon will hold a 74% stake, while Chongqing will own 26%. Global Markets: European market advanced despite U.K.s annual inflation rate stood at 3.6% in June, according to data released by the Office for National Statistics (ONS) on Wednesday, compared with 3.4% in May. Most Asian markets ended lower on Wednesday after US President Donald Trump claimed a preliminary trade deal with Indonesia, which surprisingly includes a 19% tariff on the countrys exports to the US. Indonesias central bank cuts benchmark rate by 25 bps to 5.25%. Governor Perry Warjiyo said the central bank would continue to observe room for more rate cuts, citing an expectation of low inflation through to 2026, a stable rupiah and bleak global economic outlook. Back in the US, stocks ended mostly lower on Tuesday despite early gains in tech. The S&P 500 slipped 0.4% and the Dow tumbled 0.98%, while the Nasdaq eked out a modest 0.18% rise. Both the S&P 500 and Nasdaq briefly touched record highs before retreating. June's consumer price index came in slightly hotter than expected, reigniting concerns that fresh tariffs could add more heat to inflation. According to the Bureau of Labor Statistics, consumer prices rose 2.7% year-on-year and climbed 0.3% between May and June. The data bolstered expectations that the Federal Reserve will hold off on any rate cuts for now. Tariff jitters were far from over. Trump doubled down Tuesday evening, confirming that his proposed 200% tariffs on pharmaceutical imports will kick in by month-end, alongside a broader package of trade levies. Earlier, he announced a 30% tariff on imports from Mexico and the EU. The European Union pushed back sharply and is reportedly preparing retaliatory tariffs on US products including cars and alcohol. In earnings land, Wall Streets biggest banks kicked off the season with a bang. JPMorgan Chase, Citigroup, and Wells Fargo all topped Q2 profit estimates, thanks to solid performance in both consumer and investment banking segments.
Economic Times
38 minutes ago
- Economic Times
ASML drags European stocks lower amid tariff worries
European shares slipped on Wednesday, with ASML leading losses after a weak business update, while broader investor sentiment remained cautious on concerns over tariff-driven inflation following stronger-than-expected U.S. inflation data. ADVERTISEMENT The pan-European STOXX 600 index fell 0.3% to 543.38 points, as of 0712 GMT. ASML fell 6.7% after the world's biggest supplier of computer chip-making equipment warned that it may not achieve growth in 2026, even after its second quarter bookings beat market expectations. The latest earnings forecasts showed on Tuesday that the outlook for European corporate health has deteriorated as U.S. President Donald Trump's most recent tariff statements created further uncertainty for businesses. Additionally, the U.S. CPI reading weighed on market sentiment, renewing worries over tariff-induced inflationary effects. Across the Atlantic, focus now turns to producer price data later in the day for further clues on the impact of tariffs on the world's largest economy. ADVERTISEMENT In trade, investors awaited for clarity on U.S.-EU trade talks as the bloc readied retaliatory measures if negotiations with Washington failed. In the market, European technology stocks declined 1.4%, while auto stocks fell about 1%. ADVERTISEMENT Data showed on Tuesday, Britain's annual rate of consumer price inflation unexpectedly rose to its highest in over a year at 3.6% in June, up from 3.4% in May. (You can now subscribe to our ETMarkets WhatsApp channel)
