![ET MARKETS EVENING BRIEF](https://img.etimg.com/photo/msid-66984556,quality-100/etmarkets-evening-brief.jpg)
EVENING BRIEFBest Stories of the Day
SBI, NTPC catapult Sensex, Nifty to historic highs; investors reap Rs 2.7 lakh crore reward
The 30-share benchmark index jumped 145 points to settle at 80,665. The broader NSE Nifty gained 84 points to strengthen its hold above 24,580. From the Sensex pack, SBI, NTPC, and UltraTech Cement were the top gainers, rising 2-2.5%. M&M, Bajaj Finance, Tata Motors, and Maruti Suzuki also closed with gains
Rupee ends lower pressured by weaker yuan; Fed Powell's remarks in focus
Rupee ends lower pressured by weaker yuan; Fed Powell's remarks in focus.
HDFC Life Q1 Results: Net profit rises 15% YoY to Rs 477 crore
On Monday, HDFC Life, a prominent insurer, announced a 15% increase in its standalone net profit for the first quarter, reaching Rs 477 crore compared to Rs 415 crore in the corresponding period last year.
3 ELSS or tax-saving MFs turn Rs 1.5 lakh into Rs 1 crore in 25 years
An analysis revealed that certain ELSS funds multiplied a Rs 1.5 lakh lumpsum investment to Rs 1 crore over 25 years. Investors can explore the details of these high-performing tax-saving schemes for potential wealth creation.
Budget and stock markets: How Nifty may behave and 50 stock ideas
Sensex and Nifty rose 5% last month, with markets largely flat pre-Budget. Historically, Nifty shows -0.3% pre-Budget and -0.5% post. Post-Budget, Nifty sees 5.7% average gain in one month.
Sai Life Sciences files draft papers for nearly Rs 5,000 crore IPO
The company plans to raise funds through an offer of equity shares (face value Re 1 each) through initial public offerings. The offer comprises a fresh issue of equity shares, aggregating up to Rs 800 crore and an offer for sale (OFS) of up to 61,573,120 equity shares by selling shareholders.
Swiggy announces $65 million ESOP programme for employees ahead of IPO
As part of the scheme, Swiggy employees across all levels and functions will have the opportunity to receive up to $65 million in liquidity for their ESOPs. This marks Swiggy's fifth liquidity event since 2018 and the third consecutive event following those in July 2022 and 2023. This positions Swiggy as one of the few start-ups consistently providing wealth-creation opportunities for its employees.
Money-making ideas: Wipro among 7 stocks that can rise up to 32%
HDFC AMC Q1 Results: PAT jumps 26% YoY to Rs 604 crore, revenue surges 35%
HDFC AMC Q1 Results: In the recent quarter, the consolidated profit after tax saw a notable increase of nearly 12% compared to the previous quarter. Additionally, revenue experienced a 12% sequential rise from Rs 695 crore reported in the same period last year. HDFC AMC also recorded revenue from other income amounting to Rs 173 crore.
Phillip Capital sees a 56% downside potential in IREDA shares
Phillip Capital maintains a sell view on IREDA, citing concerns over earnings growth not keeping pace with loan growth. Despite strong loan growth prospects, the company faces challenges in maintaining return ratios and credit costs.
Quant's Sandeep Tandon on redemption post Sebi raid and generating alpha for 80 lakh investors
The assets under management and NAV of the fund house are at lifetime highs and it has been able to generate alpha for over 80 lakh investors, Sandeep Tandon, CEO of Quant Mutual Fund, told ET Now .
These 4 IT stocks enjoy MFs confidence in June 2024, do you own any?
In June 2024, MFs significantly increased exposure to the IT sector, adding over 10 IT stocks to more than 5 MF schemes compared to May. These stocks have largely delivered strong returns in FY25 to date.
Big correction possible after a couple of months; VIP is a turnaround candidate: Sandip Sabharwal
Sandip Sabharwal says VIP could be a potential turnaround candidate. It is one of the stocks that we hold that has not performed and I would think that at these prices, it offers value and for people who want to wait, they could wait out the results, see if there are signs of turnaround, and then look at buying.
Nifty Bank stuck in a range; a breakout above 52,500 could take it towards 53K: Experts
The banking index needs a breakout above 52,500 levels to head towards 53,000, suggested experts. SBI, Bandhan Bank, PNB, and Bank of Baroda were among top gainers while ICICI Bank, Federal Bank, AU Small Finance Bank, and Axis Bank saw selling pressure.
Bank of Maharashtra Q1 results: Profit jumps 47% YoY to Rs 1,293 crore; NII rises 20%
Bank of Maharashtra reported a significant 46.6% increase in net profit for the June quarter, with improvements in asset quality and financial ratios. The bank's shares surged following the positive results.