logo
H1 ends with profit booking in financials

H1 ends with profit booking in financials

Time of India6 hours ago

Transcript
Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it:Sensex down 452 pts, Nifty slips below 25,520, markets end H1 2025 on a weak note.Key UpdateProfit-booking in financials wiped out early optimism from global cues.HDFC Bank down 0.7%, Nifty Financial Services dips 0.6%.Sensex closes at 83,606, Nifty at 25,517.Movers & ShakersMid- and Small-caps outperformed.Alembic Pharma jumps 7% on USFDA nod.Sigachi crashes 11% after deadly explosion.Torrent Pharma up, JB Chemicals down on KKR deal.Global CheckUS–Canada trade talks boost global sentiment.Trump extends tariff deadline to July 21.Gold up 0.5%, world stocks near record highs.Expert TakeAnalysts warn of bearish signals on charts.-Expect near-term consolidation.-Watch key Nifty levels:Support – 25,500 | Resistance – 25,800Half-year's done. All eyes now on Q1 earnings!Stay tuned. The next market trigger is just around the corner.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Naidu government gets Rs 2,500 crore bill as Andhra Pradesh HC scraps Jagan-era power duty
Naidu government gets Rs 2,500 crore bill as Andhra Pradesh HC scraps Jagan-era power duty

Time of India

timean hour ago

  • Time of India

Naidu government gets Rs 2,500 crore bill as Andhra Pradesh HC scraps Jagan-era power duty

Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The cash-strapped N Chandrababu Naidu government may have to foot a bill of about ₹2,500 crore as the Andhra Pradesh High Court has struck down an electricity duty levied on industrial and commercial establishments by the previous YSRCP government The issue pertains to a duty levied on the sale of each unit of electricity. Under the Andhra Pradesh Electricity Duty (Amendment) Act, 1994, the state had levied 6 paise per unit of "electricity duty" on all consumers, except on power sold to the Centre and the railways. In 2022, the then Jagan Mohan Reddy-led YSRCP government increased this levy to ₹1 for industrial and commercial users through a government order. Andhra Pradesh's textile and ferro alloys industries challenged this order in the court, terming it "discriminatory" to industry as these two industries are heavy consumers of power, which accounts for 50% of their input costs.A bench of Andhra Pradesh chief justice Dhiraj Singh Thakur and justice R Raghunandan Rao on Friday scrapped the government order through which electricity duty was enhanced. The order reads: "GOMs No 7, dated 08.04.2022 is struck down. However, the government is entitled to collect duty at the rate of 6 paise per unit, throughout the period from the date when Act of 2021 was published in the Gazette till such time as the rate of duty is modified, in accordance with law."Since the government order has been struck down, it will need to refund 94 paise per unit collected in excess from industrial and commercial consumers.A government source, who did not wish to be identified, told ET: "Industrial consumption of electricity is about 1,539 crore units per year. We will be calculating the dues per user. It will be about ₹2,500 crore." The government is weighing options, including appealing in the Supreme Court and adjusting future bills of Anantha Laxmi Spinning Mills executive director Paani Kumar Samineni told ET: "The government collected 94 paise excess electricity duty for 18 months till different associations got a stay order from court. This order will help consumers in recovering these dues running into hundreds of crores." The enhanced duty was collected till October 2023.

IPO this week: 10 offers to hit market including Crizac and Travel Food Services; SME segment dominates listings
IPO this week: 10 offers to hit market including Crizac and Travel Food Services; SME segment dominates listings

Time of India

timean hour ago

  • Time of India

IPO this week: 10 offers to hit market including Crizac and Travel Food Services; SME segment dominates listings

NEW DELHI: A total of 10 initial public offerings (IPOs) are set to open for subscription between June 30 and July 4, including two mainboard IPOs and eight SME listings, according to ET. Among the mainboard IPOs, Crizac Limited will open its Rs 860-crore offer from July 2 to July 4 with a price band of Rs 233–245 per share. Travel Food Services will launch its Rs 2,000-crore IPO on July 3, closing on July 7, 2025, according to an ET report. The SME IPO lineup includes: Silky Overseas Limited: Rs 30.68 crore issue, June 30–July 2 Pushpa Jewellers Limited: Rs 98.65 crore issue, June 30–July 2 Cedaar Textile Limited: Rs 60.90 crore issue, June 30–July 2 Marc Loire Fashions Limited: Rs 21 crore issue, June 30–July 2 Vandan Foods Limited: Rs 30.36 crore issue, June 30–July 2 Cryogenic OGS Limited: Rs 17.77 crore issue, July 3–July 7 Happy Square Outsourcing (White Force): Rs 24.25 crore issue, July 3–July 7 Meta Infotech Limited: Rs 80.18 crore issue, July 4–July 8 Of these, Crizac's IPO is a pure offer for sale of 3.51 crore shares, while Travel Food Services' Rs 2,000-crore offer is also fully OFS. SME issues largely consist of fresh share issuances, with some combining OFS components. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Market movers: Small-cap stocks jump up to 20%; Kimia Biosciences, Shemaroo, Innovana among top gainers
Market movers: Small-cap stocks jump up to 20%; Kimia Biosciences, Shemaroo, Innovana among top gainers

Time of India

time2 hours ago

  • Time of India

Market movers: Small-cap stocks jump up to 20%; Kimia Biosciences, Shemaroo, Innovana among top gainers

Several small-cap stocks surged as much as 20% in Monday's trade even as benchmark indices slipped into the red amid brisk selling in large-cap counters. According to an ET report, top gainers included Kimia Biosciences (20.00%), Rapicut Carbide (20.00%), AI Champdany (20.00%), Shemaroo Entertainment (19.99%), Adinath Textiles (19.99%), Concord Drugs (19.98%), TN Telecom (19.94%), Innovana Thinklabs (19.37%), Filatex Fashions (19.23%) and Omnitex Industries (17.83%). The 30-share BSE Sensex ended 452.44 points lower at 83,606.46, while the NSE Nifty closed down 120.75 points at 25,517.05. In the Nifty50 basket, 20 stocks ended in the green while 30 declined. ET also reported that stocks like Kimia Biosciences, Adinath Text, Innovana Thinklabs, Omnitex Industries and Sanofi Consumer Healthcare touched fresh 52-week highs. On the other hand, Tower Infra Trust, Jai Mata Glass, Nutricircle, Patidar Buildcon, and Pankaj Piyush hit new 52-week lows in Monday's session. Meanwhile, Axis Bank, Kotak Mahindra Bank, Maruti, UltraTech Cement, Bajaj Finance, ICICI Bank, Reliance Industries, Tata Steel, Bharti Airtel and HDFC Bank were among the major laggards from the Sensex pack on Monday. On the other hand, Trent, State Bank of India, Bharat Electronics, Titan and Bajaj Finserv closed in the green. The BSE smallcap index gained 0.81 per cent while the midcap index rose by 0.67 per cent. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 180k traders trust IC Markets for CFD trading | Sign up today IC Markets Learn More Undo Among sectoral indices on the BSE, realty declined 0.87 per cent, followed by bankex (0.59 per cent), auto (0.49 per cent), metal (0.49 per cent), oil & gas (0.19 per cent), and financial services (0.17 per cent). Capital goods led the gains with a 1.10 per cent rise. Services climbed 1.08 per cent, industrials 0.66 per cent, healthcare 0.56 per cent and consumer durables 0.42 per cent. "The focus will be on tariff settlement with the US government, as the due date is nearing and India is yet to conclude the agreement which could create uncertainty amongst the investors. While volatility will continue, India's strong growth prospects going forward would temper the fall," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, quoted PTI. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store