On Monday, Motilal Oswal Mutual Fund sold a partial stake in this online food delivery aggregator through the open market and raked in a profit of Rs 622 crore. Since then, it has been downhill for the counter.

Indian benchmark equity indices continued to trade in the red due to negative global cues and HDFC Bank's disappointing quarterly results. The bank's net profit rose 34% YoY, but investors were concerned about loan growth and margins. The dollar index reached a one-month high, impacting import costs and widening the current account deficit. Asian markets declined, led by Chinese stocks, as the country's economy grew 5.2% in Q4 2023. The 10-year Treasury yield rose above 4%, causing concerns about potential Fed rate cuts. The mid and small cap space remained overvalued despite the high liquidity in the system.

LIC surpasses SBI in market cap to become India's most-valued PSU stock after a solid stock rally. LIC's market value crosses Rs 5.75 lakh crore, while SBI's is around Rs 5.65 lakh crore. The finance ministry exempted LIC from the 25% minimum public shareholding (MPS) norms till 2032, reducing the possibility of an offer for sale. Brokerages upgraded LIC with buy calls, citing attractive valuation, growth revival in FY25, and potential increase in dividend.

Indian benchmark indices traded lower for the second consecutive day due to negative cues from global peers. HDFC Bank's lower-than-expected quarterly results dragged the market. The BSE Sensex and Nifty50 both declined. The market capitalisation of all listed companies on BSE also decreased. The crash was influenced by several factors: the dollar index reaching a one-month high, the decline in Asian markets, and the 10-year Treasury yield rising above 4%.

Brokerage firm Morgan Stanley maintained an underweight rating on L&T Technologies, Nuvama downgraded HDFC Bank post Q3 results, and an overweight rating on ICICI Lombard. UBS maintained a buy rating on GAIL India.

Lemon Tree Hotels has established a niche for itself in the mid-market segment and is expanding its presence in the top segment. The company is expected to benefit from rising demand and slower supply in key markets like NCR and Mumbai. The recent opening of mega convention centers in these cities will bring significant changes in dynamics.

Lemon Tree Hotels has established a niche for itself in the growing mid-market hospitality segment and is now expanding presence in the top segment. The company is set to benefit significantly from the sectoral tailwinds and emerge as a larger and stronger player, says Sneha Poddar of Motilal Oswal Financial.

The holding of GQG Partners in Adani Enterprises rose 21 bps to 2.95% while in Adani Ports it went up 23 bps to 3.76%. In Adani Green Energy, GQG's ownership shot up 13 bps to 3.68%.

The market capitalisation of all listed companies on BSE declined by Rs 1.91 lakh crore to Rs 373.04 lakh crore.

Sensex plunges over 1,150 pts as banks bleed; Nifty slides to 21,700; ITC, Titan, Nestle are some of the gainers in the morning trade.

Shares of HDFC Bank stock crashed over 7% to Rs 1,560 on Wednesday following its Q3 results. Despite a 34% uptick in net profit, investors were unimpressed by loan growth and margins. Top brokerages red-flagged loan growth and lower liquidity coverage ratio (LCR) while maintaining their ratings. HDFC Bank reported a good set of numbers with net profit rising 34% YoY to Rs 16,372.54 crore. Net interest income (NII) rose 24% YoY to Rs 28,471.34 crore. CLSA maintained a buy view, Morgan Stanley remains overweight, Kotak Equities retained buy, and Nuvama downgraded to hold.

Individual holdings in nine of the Adani group’s 10 stocks at the end of December are higher than they were before the short-seller’s attack on the conglomerate, exchange data compiled by Bloomberg show.

ET Now spoke to various experts, and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on Trent and MRS Bactors Food, while Nooresh Merani has a buy/sell recommendation on IDFC Ltd and Maruti Suzuki for today's trading session. Check out the targets and stoploss.

A preliminary examination by Sebi revealed that Magma had made an announcement on February 10, 2021 on stock exchanges regarding the acquisition of controlling stake by Poonawalla Group in Magma.

Stocks that were in focus included names like RIL, which fell 1.49%, LIC, which rose 4.5%, and Angel One, whose shares declined 13.5% on Tuesday.

Global investors snapped up $21 billion of shares on a net basis in 2023, but the pace has slowed this month ahead of the April-May polls where Prime Minister Narendra Modi is expected to win a third term. Many funds remain light on holdings of Indian stocks.

Shares of Nvidia and Advanced Micro Devices (AMD) jumped on Tuesday as investor optimism over the prospects of higher demand for artificial intelligence (AI)-powered chips prompted Wall Street analysts to hike their price targets for the semiconductor giants.

The U.S. is "within striking distance" of the Federal Reserve's 2% inflation goal, but the central bank should not rush towards cuts in its benchmark interest rate until it is clear lower inflation will be sustained, Fed Governor Christopher Waller said on Tuesday.

CEOs of investment banking giants expressed optimism about a resurgence in capital markets when they reported fourth-quarter earnings on Tuesday on an improving deal pipeline and U.S. economy, but also warned of risks that could disrupt a nascent recovery.

U.S. stocks ended lower on Tuesday after mixed earnings from Morgan Stanley and Goldman Sachs pressured banks, and as sell-offs in Boeing and Apple weighed on the S&P 500.

Asian stocks stumbled and the dollar was near a one-month high on Wednesday as hawkish rhetoric from central bankers beat back bets of early interest rate cuts, while geopolitical worries kept risk sentiment in check.

“Symphony stock has witnessed strong volumes and stock is consistently forming higher high and higher low pattern on charts. Traders can buy for a target of Rs 1050 in the next 5 weeks,” Jay Patel, Research Head at Investmentor Securities Limited, said.

Banks were advised by senior RBI officials during an interaction in Kochi on Saturday to prepare themselves for the changes that would be needed to deal in multiple currencies in an evolving market where the US dollar would not be the only and obvious choice for the settlement of cross-border trades and other transactions.

This will be the largest fund-raising round by Bigtree Entertainment Pvt. Ltd, which operates BookMyShow. Reliance unit Network 18 is the largest shareholder with a 37% stake.

“Following deliberations regarding future expansion plans, capex requirements, and cash reserves, the board is desirous to consider the distribution of 70%-80% of the upfront consideration of $ 903 million, as dividend to its shareholders, i.e. in the range of 110 to 120 per share,” the company announced on Monday.

"The railways strategic business group of L&T Construction has secured a mega contract to ....construct 508 route km of high-speed electrification system works for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Project, popularly referred to as the bullet train project," the company said in a filing to BSE.

American investment firm Smallcap World Fund, Inc has sold partial stake in Indigo Paints through the open market on Tuesday for Rs 104 crore.

The stock hit an all-time high of ₹900 as the company's market capitalisation rose to ₹5.64 lakh crore, crossing the listing day market value of ₹5.53 lakh crore.

During the quarter, promoters of companies such as Tide Water Oil, Capacit'e Infra, Shalimar Paints, KPI Green Energy, Snowman Logistics, Apollo Micro Systems, Paisalo Digital, and Hi-Tech Pipes, among others, have increased their stakes.

Short-term traders can look to buy Symphony stock for a possible target above Rs 1000 level in the next 5 weeks, suggested experts. It hit a 52-week high of Rs 1,218 on March 1, 2023, but failed to hold on to the momentum. The stock closed at Rs 933 on January 15, 2024, which translates into a fall of over 23%.

On the fourth-quarter earnings front, Goldman Sachs reported a 51% rise in profit, as its traders capitalized on a nascent market recovery and its asset and wealth business revenue rose. However, Morgan Stanley's profit declined, while revenue surpassed expectations on a rebound in dealmaking activity. Their shares were down 0.8% and 3.4%, respectively.

​Market regulator Securities Exchange Board of India (Sebi) and National Securities Depositories Ltd (NSDL) on Wednesday moved the Supreme Court against the Securities Appellate Tribunal’s decision that quashed the market regulator’s orders that restricted lenders, including Axis Bank, HDFC Bank and ICICI Bank, from revoking the shares pledged by Karvy Stock Broking (KSBL).

​In reaction to the recent disclosure by Aster DM Healthcare and its commitment to allot 70-80% of the revenue generated from the sale of its Gulf Cooperation Council (GCC) business to Alpha GCC Holdings for distribution to shareholders, Institutional Investor Advisory Services India (IiAS), a proxy advisory firm, has revised its voting recommendation from "against" to "for."

Fitch forecasts GDP growth of 6.9% in the fiscal year ending March 2024, which is well above its earlier forecast of 6.0%. However, growth is likely to ease to 6.5% in FY25, Fitch predicts.

The investment firm sold 7,05,389 shares, representing 1.5% stake in the paint maker, at Rs 1,475.32 a share, according to bulk deals data on the National Stock Exchange.

HDFC Bank reported a 34% year-on-year (YoY) growth in net profit for the December quarter to Rs 16,372.54 crore. The bottomline was higher than an ETNow poll of Rs 15,846 crore.

BSE is seen to be breaking out of a pattern formation and making a bullish candlestick on the daily timeframe, which indicates strength.

The Dow Jones Industrial Average fell 99.44 points, or 0.26% at the open to 37,493.54.

​​Analysts point out that only a few big-budget films worked at the box office during the quarter compared with the previous quarter which had successful films released in Hindi, English and regional languages. Poor performance of mid-and-small budget films -- fourteen such films were released in the December quarter-- added to the woes of multiplexes.

ster DM is currently trading at 430 level, having recently experienced a robust breakout above the 423 level, marked by a significant runaway gap. This breakout was accompanied by strong volumes, indicating substantial strength in the stock.

For a sustained upward movement towards 22,300, Nifty needs to decisively break above 22,150. On the downside, the immediate support is located at 21,950 levels and a clear break below this level could trigger further corrections towards the 21,800 mark.

Short covering refers to the buying of shares to close an existing short position or a position that has been sold. Short covering signals a shift in view on security from extreme bearishness to bullishness. In Tuesday's trading session, five stocks saw top short covering. Here's the list:

​The Nifty Bank closed flat but with a negative bias on Tuesday after rallying for four consecutive sessions as investors preferred to take some profits amid muted global cues.

48 companies spent Rs 48,079 crore on buying back their stocks in 2023, according to data from Prime Database. Like Apple in the US, IT giant TCS in India has spent the most on buying back its shares over the past decade. Most firms that have gone for buybacks are typically from the cash-generating and low capex sectors such as IT, FMCG and pharma. Here's a look at companies that spent the highest amount on buying back their shares:

​Capital markets regulator Sebi has renewed its recognition to AMC Repo Clearing Ltd as a clearing corporation for one year for clearing and settling transactions in repo and reverse repo in debt securities.

Long unwinding refers to the selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness. In Tuesday's trading session, five stocks witnessed a top-long unwinding. Here's the list:

India's Jindal SAW on Tuesday reported an over twofold growth in its third-quarter profit, as demand in the Middle East and North Africa (MENA) region remained steady and its order book grew.

IT stocks took a breather, falling 1.3%, after jumping 7.1% in the last two sessions on the back of better-than-expected results from the top four software companies. HCLTech, Wipro, Infosys, Tech Mahindra, and TCS were among the top Sensex losers, dropping between 1-2%.

Closing Bell: Sensex snaps 5-day winning streak, slides 199 pts; Nifty holds 22K; Angel One plunges 14%, Voda Idea 5%

The Kedia Securities chief has brought his holding down by 13 basis points in Elecon Engineering to 1.47% in the December quarter from 1.60% in the September quarter. As for Talbros Automotive, his stake at the end of the December quarter stood at 1.01% down 21 basis points from 1.22% in Q2 of FY2024.