Page 14 - Commerce Ventures News Today

They would be replaced by Punjab National Bank, Shriram Finance, Trent, TVS Motor and Zydus Lifesciences, per a release issued by the stock exchange.

Five firms, including ACC Ltd, HDFC Asset Management Company and FSN E-Commerce Ventures that runs Nykaa, will be dropped from Nifty Next 50 index from September 29. NSE Indices Ltd, an arm of the National Stock Exchange, on Thursday said that Indus Towers and Page Industries will also be dropped from the index. Punjab National Bank, Trent, Sriram Finance, TVS Motor Company, and Zydus Lifesciences will be included in the Nifty Next 50 index, NSE Indices said in a statement.

BofA, which has taken a neutral view on the counter, sees competition as a key downside risk for Nykaa while ICICI Securities downgraded the stock to Add and advocated tighter corporate spend to meet margin expectations.

Nykaa's shares are declining today mainly due to two reasons — not so encouraging Q1 results 2023 and weak stock market sentiments

Nykaa stock price today opened lower and went on to hit intraday low of ₹130.10 apiece on NSE, which is near 11% lower from its Friday close of ₹146.20 per share levels

The Rs 250 crore fine stipulated in the Digital Personal Data Protection Bill, 2023 for breach of privacy has made insurers nervous.

Nykaa clocking rise in profit comes amid mounting competition in the sector where it had established itself as the top player before entry of behemoths like Reliance led by Asia's richest man Mukesh Ambani.

Here are some of the biggest news stories this week.

A short build-up was seen in 66 stocks, including Apollo Tyres, Max Financial Services, Britannia Industries, Info Edge India, and Laurus Labs. An increase in OI along with a fall in price points to a build-up of short positions.

Round led by existing investor Aquiline Technology Growth will allow Flueid to add more integrations to its verification of title solutions suite and refine its purchase solution.