<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> closed higher for the second consecutive session, driven by gains in shares of metals, pharmaceuticals and financial services companies.</li><li>Sensex ended 0.64% or 390 points higher at 61,045 while Nifty50 closed 0.62% or 112 points higher at 18,165.</li><li>Hindalco Industries, Tata Steel, L&amp;T, UPL and Wipro were top gainers on the 50-stock index.</li></ul>India’s benchmark indices Sensex and Nifty50 closed higher for the second consecutive session, driven by gains in shares of metals, pharmaceuticals and financial services companies. Sensex ended 0.64% or 390 points higher at 61,045 while Nifty50 closed 0.62% or 112 points higher at 18,165. Hindalco Industries, Tata Steel, L&amp;T, UPL and Wipro were top gainers on the 50-stock index. Aditya Birla Group's metals flagship Hindalco Industries topped Nifty50 index with nearly 3% gains as it announced plans to raise up to ₹700 crore through issuance of non-convertible debentures. Earlier on Tuesday, markets <a href="https://www.businessinsider.in/stock-market/news/ongc-reliance-industries-paytm-siemens-among-stocks-in-focus/articleshow/97045293.cms">closed</a> in the green thanks to a last hour surge, driven by heavyweights like L&amp;T, HDFC twins and Reliance Industries. “The benchmark indices continued positive momentum for the second day in a row, the Nifty50 ended 112 points higher while the Sensex was up by 390 points. Among sectors, Metal index bounce back sharply, rallied over 1.75 percent whereas despite strong momentum profit booking continued in PSU Bank index,” said Shrikant Chouhan, head of equity research (retail) at Kotak Securities. Top gainers and losers in the Nifty500 index <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Polyplex Corp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.07% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Star Health Insurance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.07% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dhani Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.89% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bank of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.44% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Just Dial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.97% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Lombard General Insurance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Transport Corp. of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.96% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Investment Corp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.97% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fertilisers and Chemicals Travancore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.99% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delta Corp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.74% </td></tr></tbody><tbody></tbody></table> The rupee pared its initial losses and settled 44 paise higher at 81.25 (provisional) against the US dollar on Wednesday led by a firm trend in domestic equities outweighing FII outflows. On Wednesday, while domestic institutional investors (DII) were net buyers of ₹1,225 crore, foreign institutional investors (FII) sold ₹319 crore in equity markets. “After the adverse performance during the last one and a half months, the Indian market has been advancing in the last 2-3 trading days. The trend is supported by the marginal improvement in FII inflows and upside in domestic investments. The domestic investors are adopting a buy on dip strategy," said Vinod Nair, head of research at Geojit Financial Services. Crude oil prices edged up on Wednesday on hopes of an increase in demand from China due to the reopening of the economy. Brent crude oil prices gained 1.78% to $87.46 per barrel. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sectoral indices </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Metal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.65% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Financial Service </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.80% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.68% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Private Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.54% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty IT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.41% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty FMCG </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.39% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Media </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Realty </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.03% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.03% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty PSU Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.25% </td></tr></tbody><tbody></tbody></table> US and Asian markets mixed Investment bank Goldman Sachs’ weak earnings dragged the Dow Jones Industrial Average down 1.14% on Tuesday, while the S&amp;P 500 closed 0.2% lower. The tech-heavy Nasdaq closed 0.14% up thanks to a jump in Tesla shares. Asian markets, too, were mixed with only KOSPI declining 0.47% while Nikkei 225 gained 2.50%, Hang Seng gained 0.33%, Taiwan TSEC 50 closed 0.04% higher and the Shanghai Composite ended flat. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/gold-prices-hit-life-time-high-amid-looming-recession-hope-that-fed-will-slow-its-rate-hikes/articleshow/97061060.cms">Gold prices hit life-time high amid looming recession &amp; hope that Fed will slow its rate hikes</a> <a href="https://www.businessinsider.in/finance/news/over-5-4-lakh-housing-units-to-be-completed-across-top-7-cities-in-2023-anarock-report/articleshow/97029912.cms">Over 5.4 lakh housing units to be completed across top 7 cities in 2023: Anarock report</a> <a href="https://www.businessinsider.in/business/corporates/news/competitive-intensity-a-big-risk-for-dmart-say-analysts-after-company-misses-streets-q3-forecast/articleshow/97052145.cms">Competitive intensity a big risk for DMart say analysts after company misses Street’s Q3 forecast</a>

Sensex, Nifty50 close higher led by gains in metals, pharma, financial services

A proposal in this regard was approved by the Board of the company on Thursday, it said. "The Board of Directors of <keyword id="6357147" type="General" weightage="100" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> considered and approved schemes for the proposed amalgamation of six subsidiaries into and with Tata Steel," the statement issued by Tata Steel said. The subsidiaries are <keyword id="13075126" type="General" weightage="50" keywordseo="tata-steel-long-products-limited" source="Orion">Tata Steel Long Products Limited</keyword> in which Tata Steel holds 74.91 per cent equity, The <keyword id="607748" type="General" weightage="50" keywordseo="tinplate-company-of-india-limited" source="Orion">Tinplate Company of India Limited</keyword> (74.96 per cent), <keyword id="727358" type="General" weightage="50" keywordseo="tata-metaliks-limited" source="Orion">Tata Metaliks Limited</keyword> (60.03 per cent), The Indian Steel &amp; Wire Products Limited (95.01 per cent equity holding), Tata Steel Mining Limited and S &amp; T Mining Company Limited (both wholly-owned subsidiaries). "<keyword id="1062175" type="General" weightage="50" keywordseo="tata-steel-board" source="Orion">Tata Steel Board</keyword> approves the amalgamation of strategic businesses into the company," the statement said. The Board also approved the amalgamation of <keyword id="342421" type="General" weightage="50" keywordseo="trf-limited" source="Orion">TRF Limited</keyword> (34.11 per cent equity), an associate company of Tata Steel, into <keyword id="4252143" type="General" weightage="50" keywordseo="tata-steel-limited" source="Orion">Tata Steel Limited</keyword>. Tata Steel further said the proposed amalgamation is aimed at driving synergies, simplifying the group holding and management structure, and consolidating and strategically growing downstream operations and engineering capabilities. The Board has considered the proposal based on independent fairness and valuation opinions. It followed the process laid down under the Companies Act, 2013 and Securities and Exchange Board of India Regulations. The proposed amalgamation will enhance management efficiency, drive sharper strategic focus and improve agility across businesses based on the strong parental support from the Tata Steel leadership. "On completion, there will be further opportunities towards reduction of overhead and corporate costs. Each of the proposed amalgamations will be value-accretive for shareholders," the company said. TheBoards of all the amalgamating companies have also considered the proposals following due process and have unanimously approved the merger. The proposed amalgamation is also part of Tata Steel's continuing journey to simplify the group holding structure, the company said. According to the statement, since 2019, Tata Steel has reduced 116 associated entities (72 subsidiaries have ceased to exist, 20 associates and JVs have been eliminated and 24 companies are currently under liquidation). SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliance-new-energy-picks-up-20-stake-in-caelux-to-shore-up-its-position-in-advanced-solar-tech/articleshow/94388449.cms">Reliance New Energy picks up 20% stake in Caelux to shore up its position in advanced solar tech</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pepsico-to-set-up-4-plants-in-up/articleshow/94388168.cms">PepsiCo to set up 4 plants in UP</a>

Tata Steel board approves merger of six subsidiary companies

HDFC Bank, ICICI Bank, Tejas Networks among stocks to watch out for on April 25

<ul><li>The 30-share BSE index was trading 0.24% higher; while the NSE Nifty rose 18 points at 10:38 am.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex and Nifty opened on a cautious note tracking weak cues from Asian peers. The 30-share BSE index was trading 0.24% higher; while the NSE Nifty rose 18 points at 10:38 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infratel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Airtel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td></tr></tbody></table>*as of September 21, 10:30 am Gulf Oil gains 13% The shares of GOCL Corp were trading 13% higher after the company informed investors that its UK subsidiary, HGHL Holdings, has decided to divest 2 lakh shares of Quaker Houghton at a price of ₹175 per share. HGHL Holdings has beneficial interest in 4.27 lakh shares of common stock of Quaker Chemical Corporation/Quaker Houghton, USA, GOCL Corporation said in a stock-exchange filing. Repco Home Finance dips 4% The shares of Repco Home Finance lost 4% during the trade on September 21. The Care Ratings downgraded the rating for the ₹8,645 crore long-term bank facilities of the company to AA-minus with a stable outlook from AA with a negative outlook. RITES down 2% The shares state-owned RITES lost 2% after the board approved buyback of shares amounting up to ₹257 crore. The company said that it would buy shares at a price of ₹265 apiece, which is at a premium of 5% as of 9:45 am. Tata Metaliks lost 3% The shares of Tata Metaliks Limited were trading 3% lower after the company on Friday announced a planned shutdown of its plant. The company's blast furnaces and its associated facilities in Kharagpur plant are undergoing a planned shutdown, in phases, for repair &amp; maintenance including hearth profiling. Future Enterprises trades 2% lower The shares of Kishore Biyani owned Future Enterprises were trading 2% lower after the company defaulted on debt repayment towards the commercial paper. FEL told exchanges that it is unable to service its obligations in respect of the payment of commercial paper after its maturity and the gross principal amount on which the default has occurred on September14, is ₹90 crore. This also moved other <keyword id="9853524" type="UNKNOWN" weightage="20" keywordseo="future-group-stocks">Future Group stocks</keyword> such as — Future Retail trading 2% lower, Future Lifestyle Fashions trading 3% lower among others. HCL Tech surges 4% The shares of HCL Tech were<a href="https://www.businessinsider.in/stock-market/markets/news/indian-tech-companies-hcl-tech-wipro-infosys-tcs-share-price-are-green-today/articleshow/78228700.cms"> trading 4% higher after the company announced its intention to acquire a leading Australian </a>IT, business and management consulting group, DWS Limited. However, the company did not disclose the acquisition sum in its stock-exchange filing. It said the acquisition of DWS would enhance HCL’s contribution to digital initiatives in Australia and New Zealand while strengthening its client portfolio across key industries. Punjab National Bank lost 2% The shares of state-owned PNB was trading 2% lower after the financial regulator of Kazakhstan revoked the licence of its subsidiary, JSC Tengri Bank, on account of failure to observe prudential standards and other mandatory norms. PNB holds around 42% stake in JSC Tengri Bank. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/indian-tech-companies-hcl-tech-wipro-infosys-tcs-share-price-are-green-today/articleshow/78228700.cms" data-type="tilCustomLink">It’s not just the DWS deal, Morgan Stanley's outlook has painted HCL Tech green⁠ — along with TCS, Infosys and Wipro</a> <a href="https://www.businessinsider.in/stock-market/news/route-mobile-shares-price-and-listing-gains-after-a-strong-debut-on-the-bourses/articleshow/78227846.cms" data-type="tilCustomLink">After Happiest Minds Tech, Route Mobile doubles the money invested in the IPO</a>

Top stock movers — Gulf Oil, Tata Metaliks, Future Group, HCL Tech, Repco Home Finance, PNB and more

<ul><li><keyword id="6357147" type="General" weightage="60" keywordseo="Tata-Steel" source="Orion">Tata Steel</keyword> today announced the merger of its seven metal subsidiaries with itself.</li><li>The company’s investors cheered the decision and the shares surged over 4% in early trade today.</li><li>Analysts sounded optimistic about the mega merger, with the consensus being that this will result in cost savings – of about ₹750-800 crore annually.</li><li>The company had earlier outlined its merger plans while tabling the annual report of FY22.</li></ul>Tata Steel investors are cheering its decision to merge seven of its subsidiaries with the company, pushing the stock up over 4% even as the Sensex crashed over 1,000 points, or almost 2%, on Friday. Earlier in the day, Tata Steel announced that it would merge seven of its subsidiaries – Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel &amp; Wire Products, Tata Steel Mining, and S&amp;T Mining. In response, shares of Tata Steel surged over 4% before paring most of their gains as the overall market sentiment turned negative. <div type="image" title="Tata Steel 01_01_22 to 23_09_22." msid="94398496" hostid="261" caption="&amp;lt;p&amp;gt;Tata Steel share price in 2022&amp;lt;/p&amp;gt;"></div> The merger announcement is in line with the Tata Group’s bid to consolidate its businesses having common synergies. Earlier this year, the group announced the merger of Tata Consumer and Tata Coffee. In late 2021, Tata Steel BSL was merged with Tata Steel. Media reports also suggest the Tatas could be looking at merging AirAsia India and Vistara with Air India. <cmsannotation type="cmsannotation" annotationid="Why is Tata Steel merging its seven metal subsidiaries with itself?" comment="subhead" text="Why is Tata Steel merging its seven metal subsidiaries with itself?">Why is Tata Steel merging its seven metal subsidiaries with itself?</cmsannotation> While Tata Steel listed out several reasons for the mega merger, the underlying rationale is that it will improve operational efficiencies and the company will benefit from synergies of better business planning. “The proposed amalgamation will provide an opportunity for reduction of operational costs through transfer of intermediary products between companies, better order loads, synergies from sales and production planning across the business,” the company said in an exchange filing. <cmsannotation type="cmsannotation" annotationid="What are the benefits?" comment="subhead" text="What are the benefits?">What are the benefits?</cmsannotation> Reacting to the news, analysts sounded optimistic about the mega merger, with the consensus being that this will result in cost savings – of about ₹750-800 crore annually; operational and tax synergies; and a more focused business plan. “In our view, the amalgamated subsidiaries are also likely to benefit from TSL’s existing client base. On the procurement front, common sourcing of key raw materials such as iron ore and limestone would also reduce cost,” said a report by Edelweiss Research. Analysts at Kotak Securities also sounded optimistic about the news. “Merger is a positive step as it will simplify the corporate structure, plug leakage of additional royalty payments on inter-company iron ore transfers, reduce corporate overheads, enable various businesses with higher financial flexibility to progress on growth projects and bring in further operational, procurement and tax synergies,” said Jatin Damania, vice president - fundamental research, Kotak Securities. Damania added that Tata Steel would end up saving an estimated ₹750-800 crore annually due to the merger. This would help the company meet around 10% of its annual deleveraging target of $1 billion (approx. ₹8,100 crore). “In our view, the benefits of lower iron ore royalty cost are likely to be immediate, but the more strategic ones such as portfolio optimisation, sharpened focus on long products and cross-functional benefits are likely to accrue over a period of time,” the Edelweiss report added. Here’s how the five listed companies – including Tata Steel – performed financially in FY22: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.29 lakh crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹33,011 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel LP </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,801 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹629 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TRF </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹127 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹20 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tinplate Company </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,249 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹352 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Metaliks </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,745 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹238 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: Company reports <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="486551731"> Tata Steel trading in Lower Highs and Lower Lows pattern on higher time frame chart.On weekly chart, its trading in between falling wedge pattern.Above 115 weekly close we may see an upside towards 130.Weekly close above 130 it can become strong bullish.$TATASTEEL.NSE &mdash; (@pulkitgupta) <a href="https://stocktwits.com/pulkitgupta/message/486551731"> September 23, 2022</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> <div type="Article" hostid="261" msid="94393267" title="Home loans growing at a faster rate in Tier 3 and 4 districts, thanks to WFH: SBI report" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div> <div type="Article" hostid="261" msid="94388449" title="Reliance New Energy picks up 20% stake in Caelux to shore up its position in advanced solar tech" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div> <div type="Article" hostid="261" msid="94353862" title="Adani Group enters into a no-poaching pact with Mukesh Ambani led Reliance Industries" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div>

Investors cheer mega merger of seven metal subsidiaries with Tata Steel even as Sensex tumbles over 1,000 points

<img class="gwt-Image" src="/photo/34320043.cms" />India Inc has seen a healthy improvement in operating profit margins in the quarter to March, led by IT companies that have reported an eight-quarter high expansion owing to easing of manpower costs, according to an analysis by ET Intelligence Group of the first 100 companies which have announced results. The analysis does not include banking and <keyword id="25455" type="ORGANIZATION" weightage="40" keywordseo="finance">finance</keyword> companies since they have different reporting norms and also petroleum companies because their sheer size will have a disproportionate influence on the aggregates. 
 Yet, the aggregate net profit of the companies, at 16.5% of net sales, is the highest over the past eight quarters. The group’s revenues grew to Rs108,880 crore, an acceleration of 13.9% over the previous year and faster than the 12.7% growth posted in the previous quarter but slower than the July-September quarter that saw a sharp depreciation in <keyword id="6355302" type="ORGANIZATION" weightage="40" keywordseo="Rupee">rupee</keyword> and significantly benefitted IT players. The share of other income, or the income from non-business sources such as <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">investments</keyword>, rose sequentially to 13.9% of the group’s gross profit, or profit before depreciation, interest &amp; tax (PBDIT). 
 
Ten Companies Doubled Profits 
 
Ten companies posted more than double profits for the quarter. Hyderabadbased Oil Country Tubular, which supplies drilling pipes to petroleum producers, posted the biggest jump (of 65 times) in its quarterly profit to Rs14.9 crore following a mammoth 2,450-basis points increase in operating profit margins. 
 In all, 43% of the companies reported an expansion in operating profit margins compared with the year-ago period. <keyword id="144504" type="COMPANY" weightage="40" keywordseo="Tata-Metaliks">Tata Metaliks</keyword>, <keyword id="80005" type="CITY" weightage="40" keywordseo="Tata-Elxsi">Tata Elxsi</keyword>, Reliance Industrial Infra, Biocon and UPL were among the significant gainers during the period. 
 Two-thirds of the companies reported growth in net sales over the previous year. Power transmission and distribution player <keyword id="315689" type="COMPANY" weightage="40" keywordseo="Emco">Emco</keyword> posted the highest sales growth of 93.8% to Rs328 crore while Eimco Elecon, Granules India, Liberty Shoes and Cera Sanitaryware were some of the other companies that reported high revenue growth.

IT Companies Improve India Inc's Operating Profit Margins In Q1

New Delhi, Dec 18 () Shares of various Tata Group companies on Wednesday plunged up to 4 per cent after the National Company Law Appellate Tribunal (NCLAT) restored Cyrus Mistry as Tata Sons Chairman.
Tata Global Beverages tanked 4.14 per cent, Tata Coffee plunged 3.88 per cent and Tata Motors dropped 3.05 per cent on the BSE. Tata Motors was the top loser among the BSE Sensex constituents.
Also, Indian Hotels Company dipped 2.48 per cent, Tata Chemicals fell 1.65 per cent, Tata Investment Corporation 1.22 per cent and Tata Power Company 0.98 per cent.
In contrast, Tata Consultancy Services stock rose marginally by 0.07 per cent, Tata Metaliks gained 2.07 per cent, Tata Communications 1.68 per cent, Tata Elxsi 1.53 per cent, Tata Steel 1.16 per cent and Titan Company 0.09 per cent.
 In a big win for Cyrus Mistry, the NCLAT on Wednesday restored him as executive chairman of Tata Sons and ruled that appointment of N Chandrasekaran as the head of the holding company of salt-to-software conglomerate was illegal.
 The NCLAT however stayed the operation of the order with respect to reinstatement for four weeks to allow Tatas to appeal.
Mistry, a scion of wealthy Shapoorji Pallonji family, was in a coup removed as Chairman of Tata Sons in October 2016. 
Mistry, whose family owns 18.4 per cent stake in Tata Sons, challenged his removal in the National Company Law Tribunal (NCLT). 
 SUM ANU

Various Tata Group stocks tank after NCLAT restores Cyrus Mistry as Tata Sons head

New Delhi, Dec 19 () Shares of various Tata Group companies remained under pressure on Thursday as well, falling up to 2 per cent in morning trade, after the National Company Law Appellate Tribunal (NCLAT) restored Cyrus Mistry as Tata Sons Chairman.
 Tata Power Company fell 1.62 per cent, Tata Coffee declined 1.52 per cent, Tata Metaliks dipped 1.60 per cent, Tata Steel 1.46 per cent and Tata Communications 1.23 per cent on the BSE in early trade.
 The scrip of Tata Global Beverages fell 0.89 per cent, Indian Hotels Company slipped 0.62 per cent, Titan Company 0.46 per cent, Tata Motors 0.37, Tata Investment Corporation 0.14 per cent and Tata Consultancy Services stock fell 0.10 per cent.
 However, later some of these scrips such as Tata Motors and TCS bounced back and were trading with gains.
 Various group scrips had fallen up to 4 per cent in the previous trade after the order.
 In a big win for Cyrus Mistry, a company law appeals court on Wednesday restored him as executive chairman of Tata Sons and ruled that appointment of N Chandrasekaran as head of the holding company of over USD 110 billion salt-to-software conglomerate was illegal.
 It, however, stayed the operation of the order with respect to reinstatement for four weeks to allow Tatas to appeal.
 Mistry, scion of the wealthy Shapoorji Pallonji family, had in December 2012 succeeded Ratan Tata as the Executive Chairman of Tata Sons, a post that also made him the head of all Tata group listed firms such as Tata Power and Tata Motors. 
 In an overnight coup, he was removed as the Chairman of Tata Sons in October 2016. Along with him, the entire senior management too was purged and Ratan Tata was back at the helms of affairs four years after he took retirement. SUM ANS
ANS

Tata Group stocks remain under pressure after NCLAT order

New Delhi, Dec 19 () Shares of various Tata group companies on Thursday bounced back to close with gains of up to 3 per cent a day after an NCLAT ruling that reinstated Cyrus Mistry as chairman of main group holding company Tata Sons sent the stocks down.
 Various group companies remained under pressure till morning trade, falling by up to 2 per cent.
 However, buying emerged towards the close of trade and most of these companies settled the day with gains. 
Among the gainers, Tata Consultancy Services climbed 2.83 per cent, Tata Motors jumped 2.55 per cent, Tata Coffee rose 0.98 per cent, Tata Global Beverages 0.67 per cent, Tata Steel 0.48 per cent, Tata Metaliks gained marginally 0.17 per cent, Titan Company 0.07 per cent and Tata Communications 0.01 per cent on the BSE. 
 In contrast, Indian Hotels Company fell 2.03 per cent, Tata Elxsi went lower by 1.40 per cent and Tata Investment Corporation declined 0.43 per cent.
Various group scrips had fallen up to 4 per cent in the previous trade after the order.
In a big win for Cyrus Mistry, a company law appeals court on Wednesday restored him as executive chairman of Tata Sons and ruled that appointment of N Chandrasekaran as head of the holding company of over USD 110 billion salt-to-software conglomerate was illegal.
It, however, stayed the operation of the order with respect to reinstatement for four weeks to allow Tatas to appeal.
Mistry, scion of the wealthy Shapoorji Pallonji family, had in December 2012 succeeded Ratan Tata as the Executive Chairman of Tata Sons, a post that also made him the head of all Tata group listed firms such as Tata Power and Tata Motors. 
In an overnight coup, he was removed as the Chairman of Tata Sons in October 2016. SUM MR
MR

Tata Group stocks recover lost ground; gain up to 3 pc at close of trade

Shares of HSBC and <keyword id="6356454" type="COMPANY" weightage="20" keywordseo="Standard-Chartered">Standard Chartered</keyword> in <keyword id="24349" type="LOCATION" weightage="20" keywordseo="Hong-Kong">Hong Kong</keyword> plummeted nearly 3 per cent on Monday morning after reports suggested that they along with other banks allegedly moved large sums of illicit funds for nearly two decades. HSBC shares in Hong Kong fell as much as 4.4 per cet to HK$29.60 earlier in the day while Standard Chartered shares dropped 3.8 per cent to HK$35.80 per share. According to reports based on leaked suspicious activity reports (SARs) filed by banks and other financial firms with the US Department of Treasury's <keyword id="1450638" type="COMPANY" weightage="20" keywordseo="Financial-Crimes-Enforcement-Network">Financial Crimes Enforcement Network</keyword> (FinCEN), both HSBC and Standard Chartered allegedly moved suspicious funds despite red flags. The FinCEN files are more than 2,500 documents, most of which were files that banks sent to the US authorities between 2000 and 2017. These documents are some of the international banking system's most closely guarded secrets. Banks use them to report suspicious behaviour but they are not proof of wrongdoing or crime. The Asian stock markets on Monday traded on a mixed note with Hong Kong's <keyword id="48212" type="COMPANY" weightage="20" keywordseo="Hang-Seng">Hang Seng</keyword> index down 0.6 per cent. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/here-are-some-of-the-biggest-revelations-that-came-out-of-the-leaked-fincen-reports/slidelist/78225211.cms" data-type="tilCustomLink">Here are some of the biggest revelations that came out of the leaked FinCEN reports</a> <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-gulf-oil-tata-metaliks-future-group-stocks-hcl-tech-repco-home-finance-pnb-and-more/articleshow/78229039.cms" data-type="tilCustomLink">Top stock movers — Gulf Oil, Tata Metaliks, Future Group stocks, HCL Tech, Repco Home Finance, PNB and more</a>

HSBC shares plunge to lowest since 1995, StanChart falls after 'FinCEN' leak

<img class="gwt-Image" src="/photo/48985303.cms" style="width: 800px; height: 600px;" /> The Indian market is edging higher on Wednesday ahead of the <keyword id="6356435" type="ORGANIZATION" weightage="100" keywordseo="US-Federal-reserve">US Federal Reserve</keyword>'s meeting to decide on the direction of interest rates. However, traders are cautious while taking long positions because they will be able to react to the US Fed's decision only on Friday as Thursday is a local holiday on the exchanges. Here is a snapshot of the cash market on the <keyword id="53581" type="CITY" weightage="100" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword>. 
 
 
BENCHMARK INDICES 
Nifty rose 74 points to 7,902 <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> added 271 points to 25,985 
 
 
BROADER INDICES 
CNX 500 rose 0.6% to 6,582 points 
CNX Mid Cap Index fell 0.4% to 12,734 points 
CNX Small Cap Index lost 0.3% to 5,045 points 
 
SECTORAL INDICES. <keyword id="151330" type="COMPANY" weightage="100" keywordseo="Bank-Nifty">Bank Nifty</keyword> jumped 1.6% to 16,999 points 
CNX PSU Bank rose 1% to 3,068 points 
CNX Finance gained 1.4% to 6,941 points 
CNX Pharma added 1% to 12,607 points 
 
TOP NIFTY GAINERS 
Yes Bank 
Hero Motors 
Bajaj Auto 
 
TOP NIFTY LOSERS 
BPCL 
Cairn 
NMDC 
 
TOP VOLUME BUZZERS 
Minda Corporation 
Mangalam Cement 
Agro Tech Foods 
Tata Metaliks 
 
52 WEEK HIGHS 
Orient Abrasives 
Rama Steel Tubes 
Sadbhav Infra 
 
ADVANCE-DECLINE RATIO 
Nifty: 41/9 
Sensex: 27/3 
Futures:101/59 
Broader market: 1,297/1,158 
 
(Image credits: Indiatimes)

You Searched For "Tata Metaliks" and got 11 results

Sensex, Nifty50 close higher led by gains in metals, pharma, financial services

Rounak

Bhakti

Tata Steel board approves merger of six subsidiary companies

PTI

HDFC Bank, ICICI Bank, Tejas Networks among stocks to watch out for on April 25

Bhakti Makwana

Top stock movers — Gulf Oil, Tata Metaliks, Future Group, HCL Tech, Repco Home Finance, PNB and more

Navdeep Yadav

Investors cheer mega merger of seven metal subsidiaries with Tata Steel even as Sensex tumbles over 1,000 points

Rounak Jain

IT Companies Improve India Inc's Operating Profit Margins In Q1

Economic Times

Various Tata Group stocks tank after NCLAT restores Cyrus Mistry as Tata Sons head

PTI

Tata Group stocks remain under pressure after NCLAT order

PTI

Tata Group stocks recover lost ground; gain up to 3 pc at close of trade

PTI

HSBC shares plunge to lowest since 1995, StanChart falls after 'FinCEN' leak

IANS

Indian market is edging higher ahead of US Fed meet

Shailendra Bhatnagar