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Moneycontrol Selects: Top stories this afternoon

Take a look at our specially curated package of the most interesting articles to help you stay at the top of your game.

October 06, 2022 / 12:07 PM IST

Here are the top stories this afternoon:

SpiceJet soars as government raises loan limit for airlines under credit scheme

Shares of SpiceJet rose on October 6 after the finance ministry modified the Emergency Credit Line Guarantee Scheme (ECLGS) by raising the loan limit to Rs 1,500 crore from Rs 400 crore to help the aviation industry. The news was welcomed by investors.

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JSW Energy jumps after signing Maharashtra MoU for hydro pumped storage project

JSW Energy share price rose 7 percent intraday on October 6 after its subsidiary entered into a Memorandum of Understanding (MoU) with Maharashtra to set up a hydro pumped storage project in the state. With the signing of the MoU, the company has secured resources for 6 GW hydro PSPs from the governments of various states (Maharashtra, Chhattisgarh, Telangana, and Rajasthan).

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Godrej Consumer stock falls as company expects drop in volumes, decline in EBITDA in Q2FY23

Godrej Consumer Products came out with a disappointing quarterly update which dragged the stock down by 5 percent on October 6. The company said that it expects mid-single-digit volume drop, with a low single-digit 3-year volume CAGR, as the FMCG industry continued to remain soft during the quarter. At 11:10am the stock was trading at Rs 850.20 apiece on the BSE, down 5.14 percent.

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Jefferies expects Nifty to retest 15,500 mark

Mahesh Nandurkar, analyst at Jefferies India expects Nifty to retest its previous lows of 15,500 points amid recent corrections that started after US Federal Reserve increased rates. Nifty is down over 6% from its recent peak. Nandurkar expects FMCG, power utilities and pharma to be good defensives amid volatile markets while NBFC, realty, metals and industrials could be more vulnerable.

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LIC Multi-cap Fund opens today

LIC Mutual Fund has announced the launch of the new fund offer (NFO) for LIC Multi-Cap Fund (LMCF), the second scheme from the fund house in CY22. The scheme will invest 25 percent of the corpus in large-, mid- and small-cap stocks. The remaining 25 percent will be invested as per the fund manager’s discretion. The NFO will close for initial subscription on October 20.

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Urgent probe launched into Gambia cough syrup deaths as fatalities report awaited from WHO

The Central Drugs Standard Control Organization (CDSCO) has launched an ‘urgent investigation’ after the World Health Organization (WHO) issued an alert over four cough and cold syrups made by Haryana-based Maiden Pharmaceuticals, which could be linked to the deaths of 66 children in the Gambia.

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Moneycontrol News
first published: Oct 6, 2022 12:07 pm