Tag: media

Indian benchmark indices started lower for the third straight day today(11th Nov.2021) amid tepid global cues. The BSE Sensex was quoting at 60,133 levels, down 220 points or 0.36 percent, in early deals dragged by Tech M, HDFC, ICICI Bank, HCL Tech, M&M, and Axis Bank. On the upside, Titan Company, Maruti Suzuki, Tata Steel, L&T, and NTPC were lending some support. All these stocks were up in the range of 0.2 percent and 1.7 percent. Its NSE counterpart, Nifty50, was down 75 points at 17,942 levels. In the broader markets, the BSE MidCap and SmallCap indices gained 0.05 percent and 0.17 percent, respectively. Among individual stocks, shares of Zomato surged 5 percent in the intra-day trade on the BSE after the company said it will invest $50 million in e-commerce start-up Magicpin for a 16 percent stake as part of the total funding round size of $60 million. Read more

The Indian benchmark indices opened in the negative territory today(28th Sept.2021) amid tepid Asian cues. The BSE Sensex dropped over 100 points to trade below the 60,000-mark at 59,943. The Nifty50, meanwhile, was trading near the 17,800-mark at 17,921. Coal India, NTPC, UltraTech Cement, ONGC were among the top gainers in the 50-pack index. The top laggards were in the IT sector, namely HCL Tech, Infosys, Tech Mahindra, and Wipro. On the sectoral front, most indices were in the red with Nifty Realty falling 2 percent. Other losers were Nifty IT, Media, and Pharma. the only gainers were PSU Bank up 1 percent, Nifty Metal, and FMCG.

Shares of multiplex owners Inox Leisure and PVR climbed up to 18 percent and hit their respective 52-week highs on the BSE in intra-day trade on Monday after the Maharashtra government announced the reopening of cinema halls and drama theatres in the state from October 22, ahead of Diwali. Stock market participants are further bullish on the multiplex stocks on the back of the reopening theme. However, they will start operations at 50 percent strength. So, it is still two to three quarters more when these theaters will start their operations at 100 percent strength. Maharashtra is one of the largest markets for cinema theatres with a contribution of around 25 percent of the Hindi box office revenue. Theatres and movie halls across India have been closed since April this year. Chief Minister Uddhav Thackeray in a tweet said the standard operating procedure (SOP) for the reopening was in the works and would be announced at the earliest. Read more

At Close, Sensex closed 69 points, or 0.12 percent, up at 58,247.09 while the Nifty finished with a gain of 25 points, or 0.14 percent, at 17,380, rising for the second time in the last three sessions.IndusInd bank was the top index performer, rising over 4 percent. It was followed by HCL Technologies, Bajaj-Auto, Larsen & Toubro (L&T), Kotak Mahindra Bank, Tech Mahindra, among others. On the flip side, Nestle India, UltraTech Cement, Hindustan Unilever Ltd (HUL), Housing Development Finance Corporation (HDFC), Tata Steel, Bajaj Finserv, Infosys were among the top BSE Sensex draggers. BSE Midcap index rallying 1.09 percent and the BSE Smallcap index 0.63 percent. Nifty Media index emerged to be the best performing sector on NSE today, with a gain of over 14 percent. Nifty Private Bank, IT, and Auto were among the top sectoral performers. Bank Nifty gained 0.39 percent, Nifty Auto 0.88 percent, Nifty Private Bank 1.03 percent. Nifty Metal declined the most, down 0.5 percent. Read more

WhatsApp yesterday(25th May 2021) filed a legal challenge against the Indian government, protesting before the Delhi High Court's new IT rules that would require messaging services to trace the origin of particular messages. “Requiring messaging apps to “trace” chats is the equivalent of asking us to keep a fingerprint of every single message sent on WhatsApp, which would break end-to-end encryption and fundamentally undermines people’s right to privacy," said a WhatsApp spokesperson. "We have consistently joined civil society and experts around the world in opposing requirements that would violate the privacy of our users. In the meantime, we will also continue to engage with the Government of India on practical solutions aimed at keeping people safe, including responding to valid legal requests for the information available to us,” said the spokesperson. Read more