Chris Wealth Management

The government proposes to sell about 5.36% stake in Rail Vikas Nigam Ltd (RVNL) through an offer for sale that opened today.

Mahindra & Mahindra Ltd has acquired a 3.53% stake in RBL Bank for Rs 417 crore, the automaker said in an exchange filing. “We may consider further investment subject to pricing, regulatory approvals and required procedures. However, in no circumstances will it exceed 9.95,” M&M said.

Though the reversal unfolded on anticipated lines, the pause inside the pivotal region of 19770-840 lends a neutral bias for opening today. Slippage if any, would have to be restricted above 19730 for ongoing upswings to retain momentum, while we would still require a break of 19840 to keep sight on the 20160 objective. Slippage below 19730 could however rekindle fears of 19460, but 19620 could continue to stand in the way of a free fall.

Kalpataru Projects International gets new orders of Rs 2261 crore

EARNINGS IMPACT | Tech Mahindra's net profit missed estimates as it fell 39% YoY to Rs 693 crore in the first quarter. Revenue from operations rose 4% to Rs 13,159 crore.

EARNINGS IMPACT | Drug maker Cipla said it is confident about ending FY24, with 23-23.5% earnings before interest, tax, depreciation and ammortisation (EBITDA) margins and 10% odd revenue growth, led by robust sales growth across key geographies of US, India and South Africa.

EARNINGS IMPACT | Axis Bank, India's fourth-biggest private lender by market value, Wednesday reported a 41% rise in its June quarter net profit to Rs 5,797 crore on the back of higher business income. The bank had posted profits of Rs 4,125 crore a year ago.

Opening Bell: Sensex gains over 150 points, Nifty tops 19,800; M&M drops 4%, Bajaj Finance rises 2%

Pre-open session: Sensex rises 120 points; Nifty above 19,850

Fedbank Financial Services files for IPO

Markets Live Updates: Asian shares climb as Fed delivers no major surprises

Markets Live Updates: Quarterly earnings today

Markets Live Updates: GIFT Nifty (Earlier SGX Nifty) signals a muted start