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Mindtree’s share price soared 9.3% on Wednesday to trade at Rs 2,728 per share as investors reacted to the more than 61.2% on-year jump in net profit of the IT company. While the stock price rose higher, analysts were mixed on the outlook as some advised selling the stock citing unsustainable margins, other asked investors to buy more shares banking on the accelerated digital adoption globally. Mindtree’s share price has soared 62% so far this Read More

Snapping the three-day losing streak, BSE Sensex ended over 0.75 per cent higher on Tuesday. The 30-share index surged 397 points or 0.76 per cent to finish at 52,770, while the broader Nifty 50 index jumped 120 points or 0.76 per cent to settle at 15,812. Index heavyweights such as ICICI Bank, Housing Development Finance Corporation (HDFC), Reliance Industries Ltd (RIL), Axis Bank contributed the most to the indices’ gain. Market breadth remained positive as Read More

Sebi has barred Allegro Capital and one of its senior executives from the securities market for one year in a case related to alleged insider trading activities in the shares of Biocon. Besides, the market watchdog has directed them to disgorge wrongful gains along with interest. The amount would be more than Rs 24 lakh. Allegro Capital and its director as well as major shareholder Kunal Ashok Kashyap have been fined Rs 10 lakh each, Read More

Markets regulator Sebi has imposed a total fine of nearly Rs 23 lakh on 16 entities for violation of market norms while dealing in the scrip of Timbor Home Ltd. The entities entered into off-market transactions without making the payment of considerations within the timeline as stipulated under the Securities Contracts Regulation Act (SCRA). In another investigation conducted by Sebi in the scrip of Timbor Home between April 2014 – May 2015, 21 entities who Read More

IndiGo, Spicejet and other airline share prices surged up to 5 per cent on BSE on Tuesday, a day after the Ministry of Civil Aviation raised the flight capacity allowance to 65 per cent. Analysts say even though the aviation ministry increased flight capacity to 65 per cent, rising fuel prices, slack monsoon period and fear of an impending third Covid-19 wave could dampen the upward momentum for airline stocks. Barring Jet Airways share price, Read More