Latest news with #NSE
Business Standard
34 minutes ago
- Business
- Business Standard
Geopolitics on hold, bulls in control: Nifty reclaims 25K
Bulls stormed Dalal Street on Friday, pushing the Nifty 50 index past 25,000, snapping a three-day losing streak. The rally gained momentum in the final hour as Middle East tensions showed signs of cooling and foreign investors returned to Indian equities. Sentiment improved after reports suggested a potential de-escalation in the Iran-Israel conflict, with the White House indicating that US President Donald Trump would take at least two weeks to decide on any involvement, leaving room for diplomatic engagement. This helped cool Brent crude prices, easing concerns over Indias energy import costs and giving a further boost to equities. Short covering ahead of next weeks monthly F&O expiry added to the surge. All NSE sectoral indices ended in the green, led by gains in realty and PSU bank stocks. The S&P BSE Sensex jumped 1,046.30 points or 1.29% to 82,408.17. The Nifty 50 index jumped 319.15 points or 1.29% to 25,112.40. The Sensex and the Nifty fell 0.53% and 0.61%, respectively, in the past three sessions. Reliance Industries (up 2.16%), HDFC Bank (up 1.60%) and ICICI Bank (up 1.13%) boosted the indices. In the broader market, the S&P BSE Mid-Cap index rose 1.20% and the S&P BSE Small-Cap index added 0.55%. The market breadth was strong. On the BSE, 2,463 shares rose and 1,484 shares fell. A total of 147 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 4.08% to 13.67. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.02% to 6.311 from the previous close of 6.312. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.6150 compared with its close of 86.7350 during the previous trading session. MCX Gold futures for 5 August 2025 settlement shed 0.56% to Rs 98,774. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.19% to 98.60. The United States 10-year bond yield rose 0.25% to 4.407. In the commodities market, Brent crude for August 2025 settlement rose 56 cents or 0.73% to $77.26 a barrel. Global Markets: European indices advanced on Friday, despite a sharp decline in U.K. retail spending. According to the Office for National Statistics, retail sales in the U.K. fell by 2.7% in May, the steepest monthly drop since December 2023, as shoppers pulled back on spending. In addition to releasing retail sales data, the Office for National Statistics also reported that public borrowing in May reached 17.7 billion pounds ($23.8 billion), which is 700 million pounds higher than the same period last year. Most Asian shares ended lower as investors assessed China data and monitored tensions between Israel and Iran. U.S. President Donald Trump is now weighing in on whether to back the Israeli military and strike Tehran. The White House said that he will make a final decision within the next two weeks. Japan's core consumer price index (CPI), which excludes volatile fresh food costs, rose 3.7% in May from a year earlier, data showed on Friday, accelerating from a 3.5% increase in April. China kept its benchmark lending rates unchanged Friday. The Peoples Bank of China held the 1-year loan prime rate at 3.0% and the 5-year LPR at 3.5%, according to a statement Friday. Stocks in Spotlight: Shares of Power Finance Corporation (PFC) (+4.92%) and REC (+2.96%) rallied after the Reserve Bank of India (RBI) issued its final Project Finance Directions, 2025. Lenders will now set aside a standard 1% for such exposures, with a gradual increase depending on the length of DCCO deferment. In the case of under-construction commercial real estate, the initial provisioning will be slightly higher at 1.25%. For projects that have already achieved financial closure, existing provisioning rules will continue to apply, ensuring a smooth transition to the new regime. Sun TV Network fell 1.09% after a legal notice from DMK MP and former telecom minister Dayanidhi Maran to his brother, Sun TV chairman Kalanithi Maran, reignited a decades-old family dispute over the companys shareholding structure. The notice has been served not only to Kalanithi Maran but also to his wife, Kavery Kalanithi, and others involved in the company. Kalanithi Maran remains the majority shareholder, holding a 75% stake in the Chennai-based broadcaster. In response, Sun TV Network dismissed the allegations as incorrect, misleading, speculative, and not supported by facts or law, adding that the matter pertains to a time when the company was a privately held entity and all actions were conducted in accordance with the law. Brahmaputra Infrastructure shares rose 1.48% after the company implemented a 15% hike in rental rates at City Centre Guwahati, in line with its lease agreement mandating such an increase every three years. The hike took effect from April 1, 2025, following the end of the second three-year term on March 31. The mall, which is operating at full capacity, currently houses over 150 reputed brands. Uno Minda advanced 2.74% after the companys board has approved the setting up of a greenfield manufacturing facility for aluminium die casting in Sambhaji Nagar, Maharashtra for Rs 210 crore. Suzlon Energy rose 1.26% after the company bagged its third successive order from Ampin Energy Transition (AMPIN) for the development of a 170.1 MW wind power project in Kurnool, Andhra Pradesh. TD Power Systems shed 0.18%. The company secured an order worth Rs 67 crore from a leading multinational corporation for the supply of components for traction motors meant for export. ITD Cementation India declined 1.33%. The company announced that it has secured two major contracts cumulatively valued at approximately Rs 960 crore. New Listing: Shares of Oswal Pumps were settled at Rs 624.90 on the BSE, representing a premium of 1.78% compared with the issue price of Rs 614. The scrip was listed at 632, exhibiting a premium of 2.93% to the issue price. The stock hit a high of 649.15 and a low of 621.90. On the BSE, over 14.52 lakh shares of the company were traded. IPO Update: The initial public offer (IPO) of Arisinfra Solutions received bids for 3,45,71,397 shares as against 1,30,84,656 shares on offer, according to stock exchange data at 16:45 IST on Friday (20 June 2025). The issue was subscribed 2.64 times. The issue opened for bidding on Wednesday (18 June 2025) and it will close on Friday (20 June 2025). The price band of the IPO is fixed between Rs 210 and 222 per share. An investor can bid for a minimum of 67 equity shares and in multiples thereof.
Economic Times
an hour ago
- Business
- Economic Times
Sun TV shares tumble over 5% in intra-day trade amid concerns over rift between Maran brothers
Shares of Sun TV Network tumbled over 5 per cent in intra-day trade on Friday before recovering most of the lost ground to end 1 per cent lower amid concerns over a rift between brothers Dayanidhi and Kalanithi Maran. ADVERTISEMENT According to reports, Dayanidhi has sent a legal notice to his brother and several others, accusing them of "fraudulent practices" and "misgovernance" in taking control of Sun TV after their father Murasoli Maran's death in 2003. The stock of Sun TV dropped 5.20 per cent to Rs 581.55 during the day on the BSE. Later, it ended at Rs 606.80, down 1.09 per cent. On the NSE, shares of the firm tanked 5.25 per cent to Rs 580 during the day. The stock later ended at Rs 605.75 apiece, a decline of 1.04 per cent. A day after reports emerged of former Union minister Dayanidhi Maran accusing his brother of "fraudulent practices" and "misgovernance", the elder sibling Kalanithi-run Sun TV on Friday said the division between the promoter family done 22 years back was in compliance with all legal obligations. Defending its promoter Kalanithi, Sun TV Network in a regulatory filing said the agreements between the two brothers had been "duly vetted" by "intermediaries" concerned before the company's public issue. ADVERTISEMENT The board of Sun TV Network is led by Kalanithi as Executive Director and Chairperson. Kalanithi, as a promoter, owns 75 per cent shareholding in Sun TV Network. ADVERTISEMENT Sun TV Network said, "The alleged matter dates back to 22 years, when the company was a closely held private limited company". Defending the promoter, it further stated, "Statements allegedly made in the articles are incorrect, misleading, speculating, defamatory and not supported by facts or law". ADVERTISEMENT "We wish to inform that all acts have been done in accordance with legal obligations and the same had been duly vetted by concerned intermediaries before the public issue of the company," it said. Moreover, Sun TV Network also said the media reports claiming a rift between the promoter Maran brothers "does not have any bearing on the business of the company or its day-to-day functioning". ADVERTISEMENT Sun TV Network also clarified that it is a "family matter of the promoter" and is "purely personal in nature". (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
an hour ago
- Business
- Mint
Zerodha CEO Nithin Kamath shares pitfalls of broking business, wonders: Why the brokerage business looks so sexy
Nithin Kamath, the co-founder and chief executive officer (CEO) of discount broking firm Zerodha, recently highlighted the risks of running a broking business, which often appears attractive on the surface — fast-growing revenues, rising trader numbers, and increasing volumes. The 45-year-old entrepreneur warned the broking business faces massive concentration risk—where a single change can wipe out a big chunk of revenue. 'I wonder why the brokerage business looks so sexy from the outside,' he quipped. In a social media post on X on Friday, June 20, Nithin Kamath shared an anecdote wherein he said that back in 2008, a private equity veteran decided against investing in a broking firm due to a glaring issue: revenue was highly concentrated among just a handful of clients. This concentration risk was a major red flag, signaling vulnerability to client attrition or market shifts. "As I've mentioned numerous times, a small number of active traders contribute to most of the exchange turnover. This was a lot worse back then. Fast forward to today, it's still concentrated, but in a different way," Kamath's post read. One might wonder that with the active clients on NSE rising steadily (to 49.2 million in fiscal 2025), these risks must be dissipating, but Kamath claims the situation remains largely similar. "While the number of traders has gone up, but for both exchanges and brokers, the bulk of revenue now comes from just two contracts: Nifty and Sensex F&O. For us, it's over 80%, and it's similar for other brokers as well," Kamath said. This means any regulatory change, market disruption, or shift in trading behaviour affecting these contracts could wipe out a substantial portion of brokerage income overnight. Kamath, however, wonders if this risk is factored in when brokerage businesses are valued. Adding to these risks is the unique Indian regulatory environment, which differs starkly from global markets, as highlighted by Kamath. India does not permit payment for order flow, a practice common in the US that can provide additional revenue streams for brokers. The prohibition limits brokerage firms' ability to diversify revenue sources. Additionally, the quarterly fund settlement mandate — requiring brokers to return all client funds to their bank accounts every quarter — imposes cash flow constraints and operational challenges, akin to a forced 'bank run' scenario. There is also no significant exposure to emerging asset classes such as cryptocurrency, which in other markets offers new growth avenues. Against this backdrop, Kamath wonders what makes the broking business look "so sexy from the outside". Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
an hour ago
- Business
- Time of India
Sun TV shares tumble over 5% in intra-day trade amid concerns over rift between Maran brothers
Shares of Sun TV Network tumbled over 5 per cent in intra-day trade on Friday before recovering most of the lost ground to end 1 per cent lower amid concerns over a rift between brothers Dayanidhi and Kalanithi Maran . According to reports, Dayanidhi has sent a legal notice to his brother and several others, accusing them of "fraudulent practices" and "misgovernance" in taking control of Sun TV after their father Murasoli Maran's death in 2003. The stock of Sun TV dropped 5.20 per cent to Rs 581.55 during the day on the BSE. Later, it ended at Rs 606.80, down 1.09 per cent. On the NSE, shares of the firm tanked 5.25 per cent to Rs 580 during the day. The stock later ended at Rs 605.75 apiece, a decline of 1.04 per cent. A day after reports emerged of former Union minister Dayanidhi Maran accusing his brother of "fraudulent practices" and "misgovernance", the elder sibling Kalanithi-run Sun TV on Friday said the division between the promoter family done 22 years back was in compliance with all legal obligations. Live Events Defending its promoter Kalanithi, Sun TV Network in a regulatory filing said the agreements between the two brothers had been "duly vetted" by "intermediaries" concerned before the company's public issue. The board of Sun TV Network is led by Kalanithi as Executive Director and Chairperson. Kalanithi, as a promoter, owns 75 per cent shareholding in Sun TV Network. Sun TV Network said, "The alleged matter dates back to 22 years, when the company was a closely held private limited company". Defending the promoter, it further stated, "Statements allegedly made in the articles are incorrect, misleading, speculating, defamatory and not supported by facts or law". "We wish to inform that all acts have been done in accordance with legal obligations and the same had been duly vetted by concerned intermediaries before the public issue of the company," it said. Moreover, Sun TV Network also said the media reports claiming a rift between the promoter Maran brothers "does not have any bearing on the business of the company or its day-to-day functioning". Sun TV Network also clarified that it is a "family matter of the promoter" and is "purely personal in nature".
Mint
2 hours ago
- Business
- Mint
Ashish Kacholia portfolio stock Aeroflex Industries rises over 20% in three straight sessions
Aeroflex Industries share price: Small-cap stock Aeroflex Industries, also part of ace investor Ashish Kacholia's portfolio, has been on a steady rise over the past three trading sessions, adding over 22% during this period. The action in Aeroflex Industries shares has been driven by high volumes and a strong technical setup. On the National Stock Exchange, the trading volume in the stock was at 7.52 crore. This was much higher than the average volume in lakhs that the stock generally witnesses. On the BSE today, the total traded quantity for Aeroflex Industries was 752.73 lakh shares as against the two-week average of 6.97 lakh shares. The stock is also among Ashish Kacholia's portfolio holdings, wherein he has a 1.92% stake as of the March 2025 data. Aeroflex Industries stock ended 6% higher on the NSE today, June 20, at ₹ 206.57 apiece. For the year, Ashish Kacholia-owned small-cap stock is up 34%. However, it has seen a volatile trend on a monthly basis. Aeroflex Industries stock, though up 25% in June, had lost 6% in May after a 3% rise in April. Before that, the scrip had declined marginally by 0.92% in March but a whopping 29% in February. In the first month of the year, the stock climbed 20%. The company posted a decent performance for the March 2025 quarter, recording a 16% year-on-year (YoY) growth in total income to ₹ 92 crore while its profit for the period grew 12% YoY to ₹ 11 crore. On the operating front, earnings before interest, tax, depreciation and amortisation (EBITDA) grew 21% to ₹ 19 crore, with EBITDA margin at 20.71%. For the full financial year, the company posted an 18% YoY growth in income and a 26% rise in profit to ₹ 379 crore and ₹ 53 crore, respectively. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
