Key factors behind today's market crash

Wednesday, January 27, 2021
Benchmark indices extended their losses to the fourth day today mainly led by losses in index heavyweight Reliance Industries, private lenders, and select IT stocks, Weak global markets, a mixed set of Q3 earnings, and selling by foreign institutional investors (FIIs) dented the domestic market mood in today's session. Meanwhile, investors chose to book profits ahead of the Union Budget on Monday, February 1. The BSE barometer Sensex plunged 938 points to 47,410 while its NSE counterpart Nifty slipped below the 14,000 marks to end at 13,968, down 271 points. Global stocks are mostly treading water near record highs as US corporate earnings roll in. Meanwhile, new coronavirus variants that sparked fresh lockdowns and other restrictions are weighing on the market mood. Read more

Tiktok to shut down India business

Wednesday, January 27, 2021
Bytedance, the owner of Tiktok and Helo apps, has announced the closure of its India business following continued restrictions on its services in the country. TikTok's global interim head Vanessa Pappas and vice president for global business solutions Blake Chandlee in a joint email to employees have communicated the decision of the company that it is reducing team size and the decision will impact all employees in India. The executives expressed uncertainty about the company's comeback to India but expressed hope to do so in times to come. "We look forward to receiving the opportunity to relaunch TikTok and support the hundreds of millions of users, artists, storytellers, educators, and performers in India," the spokesperson said.

Closing Bell:Sensex down 938 points, Nifty at 13967.50

Wednesday, January 27, 2021
At close, the Sensex was down 937.66 points or 1.94% at 47,409.93, and the Nifty was down 271.40 points or 1.91% at 13,967.50 for the fourth consecutive session on the back of broad-based selling. IndusInd Bank, Titan, and Axis Bank were the top drags followed by Reliance Industries, HDFC Bank, HDFC, and ICICI Bank. Tech Mahindra, ITC, SBI Life Insurance, Wipro, and Power Grid Corp were the top gainers. Nifty Bank index, down 2.93 per cent, being the top loser. Except for FMCG, all other sectoral indices ended in the red. BSE Midcap and Smallcap indices shed 0.5-1.3 per cent.Volatility index of India VIX soared to cross 24 levels

Retail investors in driver's seat :UBS

Monday, January 25, 2021
Foreign investor flows have taken a backseat over the past couple of years with retail investors now being in the driver’s seat, suggests a recent report from foreign brokerage firm UBS. “Overall, when we combine household equity savings through mutual funds and direct share purchase, we see that households are a material force to be reckoned with: overall 25 percent higher than foreign portfolio investment (FPI) net inflows over the last two years,” a January 20 UBS note said. the key trigger for the increased retail participation in equities has been the lockdown triggered by Covid-19 that saw investors channelizing their savings to capital markets in search of a better return on their investments and the need to increase their disposable income. The share of client participation in capital markets at the NSE for individuals rose to 46 percent in fiscal 2020-21 (FY21) on a YTD basis, as compared to 39 percent in FY20, UBS said.

New fund to meet the public health spending target

Monday, January 25, 2021
Due to an increased demand for a higher health care allocation, the government may set up a new fund to meet the public health spending target of 2.5 percent of GDP by 2025. Both, the Centre and states would provide for the fund to achieve the goal, the Union Budget may propose. At present, the country’s total health expenditure is 1.4 percent of GDP — much lower than many emerging economies in the world. The fund, if created, would be under the ‘Pradhan Mantri’ umbrella and will focus on both short- and long-term priorities of the sector, according to the government officials. The primary objective of the new fund will be to spend 25 percent on primary health care and the rest on infrastructure as well as research and development. It would also provide additional money to the government’s existing health care schemes such as Ayushman Bharat. Read more

MARKET UPDATE:volatile session; Sensex hovered around 48,770 levels and Nifty testing the 14,450-mark

Monday, January 25, 2021
The benchmark indices in India fluctuated between gains and losses in morning deals of today's(25th January 2021) volatile session, with gains in financials being offset by losses in index-heavyweight Reliance Industries. The S&P BSE Sensex hovered around 48,770 levels, having earlier risen to 49,010 levels in intra-day deals. The broader Nifty50 index was testing the 14,450-mark. Reliance Industries dipped 4 percent post the announcement of its December quarter results. The conglomerate saw its profit jump 12.5 percent to Rs 13,101 crore during the said quarter. Besides, Asian Paints and HCL Tech also slipped 2 percent, each. On the other hand, UltraTech Cement climbed 2 percent and was the top Sensex gainer. The Nifty sectoral indices were mixed, with the Nifty PSU Bank index trading 2 percent lower. In the broader markets, the S&P BSE MidCap and SmallCap indices slipped 0.9 percent and 1.7 percent, respectively. Read more

Closing Bell:Sensex down 746 points, Nifty at 14371.90

Friday, January 22, 2021
At close, Sensex was down 746 points, or 1.50 per cent, at 48878.54 and Nifty was at 14371.90, down 218 points or 1.50 per cent as investors took some profit off the table on Friday. Axis Bank was the top loser followed by SBI, ICICI Bank, IndusInd Bank. On the flipside, Bajaj Auto, HUL, TCS, Ultratech Cement, and Bajaj Finserv were the only gainers on the Sensex. The S&P BSE MidCap index ended 1.1 per cent lower at 18,777.46 levels while the S&P BSE SmallCap index closed at 18,442 levels, down 0.93 per cent. India VIX, the volatility index, rose 1.09 per cent to settle at 22.42 levels. The nifty metal was down 4 per cent. Nifty Bank index tanked over 1,000 points, or 3.25 per cent, to close at 31,176 levels.

Some expectation from Budget 2021

Friday, January 22, 2021
Markets are now eyeing the upcoming proposals in the Union Budget – scheduled to be presented on February 01 – After a stupendous rally that has seen the S&P BSE Sensex more than double from March 2020 low and hit the 50,000 marks. The budget proposals may help revive Covid-19 impacted economy and lift the fortunes of corporate India as well. While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard. Growth and not fiscal prudence, experts say, should be the priority for the government now. Read more

Chris Wood bullish on Indian equities

Friday, January 22, 2021
Christopher Wood, global head of equity strategy at Jefferies has maintained a bullish view on Indian equities for 2021 in spite of the runaway market rally since March 2020. "GREED & fear still likes the Indian stock market this year. The key reason is the scale of the cyclical recovery in the coming fiscal year as a result of the dramatic collapse in growth in the second quarter of last calendar year when the real gross domestic product (GDP) declined by 23.9 percent YoY," Wood wrote in his recent weekly note to investors, GREED & fear. "The economic downturn is not going to happen in GREED & fear’s view since the vaccine rollout implies the opposite and the resulting unleashing of pent-up demand, which will be given further momentum by the sheer scale of the Covid-19 stimulus announced last week by President Joe Biden," Wood wrote. Read more

MARKET UPDATE:volatile session; Sensex fell 120 points to 49500 and Nifty fell below 14,550

Friday, January 22, 2021
The Indian benchmark indices inched lower in the morning deals of today's(22nd January 2021) volatile session, dragged by Reliance Industries and private banks. The S&P BSE Sensex fell 120 points to 49,500 and the broader Nifty50 index fell below 14,550. Bajaj Auto gained 6 percent and was the top Sensex gainer, followed by Mahindra & Mahindra and Asian Paints (both up 1%). On the other hand, Axis Bank and HDFC fell1 percent, each. Reliance Industries also slipped 1 percent ahead of its quarterly results later in the day. Among other individual stocks, Biocon tumbled 9 percent while SBI Card rose as much as 4 percent after announcing their respective December quarter results. The Nifty sectoral indices were mixed, with the Nifty Auto index, up 3 percent leading the gainers. Read more

Closing Bell:Sensex down 167 points, Nifty at 14590.35

Thursday, January 21, 2021
At close, Sensex was down 167 points, or 0.34 per cent, at 49,624.76 and Nifty was at 14,590.35, down 54 points or 0.37 per cent and hit an all-time high of 50,184.0. Bajaj Finance, Bajaj Finserv, HCL Tech, IndusInd Bank, Bajaj-Auto, Ultratech Cement, Reliance Industries Ltd (RIL), Tech Mahindra and Titan Company were among top Sensex gainers. On the flip side, Tata Consultancy Services (TCS), Housing Development Finance Corporation (HDFC) and HDFC Bank were the index losers. Nifty PSU Bank, Nifty Realty and Nifty Metal indices down between 2 per cent and 3.5 per cent and BSE Telecom down 2.64 per cent.BSE Midcap and Smallcap indices fell 0.88 per cent and 0.68 per cent, respectively.

India's GDP is within the striking distance of attaining positive growth: RBI bulletin

Thursday, January 21, 2021
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said. The Indian government launched the world's biggest vaccination drive on January 16 to protect people from COVID-19. "What will 2021 look like? The shape of the recovery will be V-shaped after all and the 'V' stands for the vaccine," said an article on the 'state of the economy' in the RBI's January Bulletin. India has launched the biggest vaccination drive in the world, backed by its comparative advantage of having the largest vaccine manufacturing capacity in the world and a rich experience of mass inoculation drives against polio and measles. "If successful, it will tilt the balance of risks upwards," said the authors who among others include RBI Deputy Governor Michael Debabrata Patra. Read more

Joe Biden is sworn in as the 46th president of the United States

Thursday, January 21, 2021
Joe Biden was sworn in as the 46th president of the United States yesterday (20th January 2021), offering a message of unity and restoration to a deeply divided country reeling from a battered economy and a raging coronavirus pandemic that has killed more than 400,000 Americans. Standing on the steps of the US Capitol Biden called for a return to civic decency in an inaugural address marking the end of Trump's tempestuous four-year term. "To overcome these challenges, to restore the soul and secure the future of America, requires so much more than words. It requires the most elusive of all things in a democracy: unity," Biden, a Democrat, said after taking the oath of office. "We must end this uncivil war that pits red against blue, rural versus urban, conservative versus liberal. We can do this - if we open our souls instead of hardening our hearts." Read more

MARKET UPDATE:Sensex crossed the 50,000 landmark; up by 270 points at 50,070 levels and the Nifty was above 14,700-mark

Thursday, January 21, 2021
The markets in India scaled record highs today(21st January 2021), with the S&P BSE Sensex crossing the 50,000 landmark for the first time ever, on the back of favourable global cues. The S&P BSE Sensex gained 270 points at 50,070 levels and the Nifty50 index was trading above the 14,700-mark. Bajaj Finance and Bajaj Finserv rose 4 percent and 3 percent, respectively, after announcing their December quarter results, while Bajaj Auto gained over 1 percent ahead of its quarterly results announcement, later in the day. The Nifty sectoral indices were painted green, led by the Nifty Auto index, up 1 percent.

Will Pfizer-BioNTech shot neutralise mutating coronavirus?

Wednesday, January 20, 2021
Pfizer Inc. and BioNTech SE built the case that their Covid-19 vaccine will protect against the new UK variant. Like previous work out of the University of Texas Medical Branch, the results published today(20th January 2021) showed that antibodies in the blood of people who had been vaccinated were able to neutralize a version of the mutant virus that was created in the lab. The study was published on preprint server BioRxiv prior to peer review. Unlike the earlier study, which focused on one crucial mutation, the new research tested all 10 mutations located on the virus’s spike protein, which helps it bind to cells in the host. Antibodies in the blood of 16 volunteers in a previous German trial of the vaccine were just as effective against the lab-created mutant strain as they were against the original virus. The result “makes it very unlikely that the U.K. variant viruses will escape” protection from the vaccine, wrote a BioNTech research team.

FM Nirmala Sitharaman's upcoming budget may be unlike anything seen in the last 100 years

Wednesday, January 20, 2021
FM Nirmala Sitharaman has described her upcoming budget as unlike anything seen in the last 100 years. Prime Minister Narendra Modi’s government has been parsimonious in pump-priming the economy, for fear of a rating downgrade to junk, and may find that kicking the can down the road is no longer an option. When Finance Minister Nirmala Sitharaman presents her budget on Feb. 1, she will not only aim to repair battered government finances and ensure demand recovers in an economy facing its worst contraction since 1952. She must also revive declining revenue and restore millions of jobs lost during the pandemic. That will be crucial to boosting consumer sentiment in a country where local demand contributes nearly 60% of gross domestic product. Read more

Closing Bell:Sensex gains 394 points, Nifty at 14644.70

Wednesday, January 20, 2021
At close, the Sensex was up 393.83 points or 0.80% at 49,792.12 and the Nifty was up 123.50 points or 0.85% at 14,644.70 ended at fresh all-time high levels on Wednesday, primarily due to buying in Reliance Industries Ltd and IT stocks. Tech Mahindra was the top Sensex gainer today, followed by Maruti Suzuki, RIL, Asian Paints, M&M, Infosys, HCL Tech and State bank of India. On the flip side, Power Grid Corporation of India, NTPC, HDFC Bank, ITC, Nestle India, Sun Pharma were among top Sensex losers. About 1553 shares have advanced, 1407 shares declined, and 157 shares are unchanged. Sectorally, all except Nifty FMCG index ended the day in the green on the NSE with the FMCG index closing down 0.16 per cent. On the upside, Nifty IT, Auto, and PSU Bank indices closed with gains of over 2 per cent each. The S&P BSE MidCap index settled 1 per cent higher, while the S&P BSE SmallCap index gained 0.58 per cent.

MARKET UPDATE:Sensex up by 100 points at 49,500 levels and the Nifty was above 14,550-mark

Wednesday, January 20, 2021
The benchmark indices in India inched higher after a flat start in today's(20th January 2021) opening deals, lifted by IT stocks. The S&P BSE Sensex was up 100 points at 49,500 levels and the Nifty50 index was above the 14,550-mark. ONGC, Tech Mahindra, ICICI Bank, and HCL Tech (all up 1%) were the top Sensex gainers. Among other individual stocks, Tata Communications slid 4 percent as the government is set to sell its entire 26.12 percent stake in the company by the end of the current fiscal year. All the Nifty sectoral indices, except Nifty FMCG, were painted green, with the Nifty IT index, up 2 percent, leading the list of gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices were up 0.4 percent, each. Thirty-six companies including Bajaj Finance, Bajaj Finserv, HDFC Asset Management Company, and Havells India are set to announce their quarterly results today.

Closing Bell:Sensex gains 834 points, Nifty at 14521.15

Tuesday, January 19, 2021
At close, the Sensex was up 834.02 points or 1.72% at 49,398.29, and the Nifty was up 239.90 points or 1.68% at 14,521.20. Bajaj Finance, HDFC, ICICI Bank and IndusInd Bank were top gainers in the Sensex pack followed by State Bank of India and Maruti Suzuki. Tech Mahindra, ITC, Wipro, M&M and Britannia Industries were top losers. About 2077 shares have advanced, 861 shares declined, and 139 shares are unchanged. Nifty Media and Nifty Realty indices were top sectoral indices, up over 2 per cent. The BSE MidCap index gained 2.3 per cent. The SmallCap index, on the other hand, up 1.6 per cent.

PVR plans to release films in theatres as virus eases

Tuesday, January 19, 2021
PVR Ltd. is now planning to release their movies in cinema halls rather than on streaming sites like those run by Netflix Inc. and Amazon.com Inc., now that the pandemic is easing in India. The country’s biggest cinema operator, which runs about 835 screens across 71 cities, is currently operating most theaters at half capacity due to Covid-related restrictions. However, it sees benefits in the “age-old strategy” of movies first coming to the big screen before being monetized on other platforms. A number of Indian films starring top actors such as Amitabh Bachchan, Akshay Kumar, and Vidya Balan opted for streaming platform release in 2020 as theaters were shuttered by shelter-at-home rules. PVR’s shares, which snapped eight years of gains to fall about 30% in 2020, have risen almost 14% this year. The stock has 20 buy calls, six holds, and four sales among analysts tracked by Bloomberg.

Price hike puts auto stocks in fast lane

Tuesday, January 19, 2021
Equity markets in India bounced back today(19th January 2021), nursing losses of the past two days, on strong global cues. The nifty Auto index gained 1.5 percent on the National Stock Exchange (NSE) to hit an intra-day high of 10,113.5. Among individual stocks, Tata Motors jumped as much as 4 percent on the NSE, followed by gains in Ashok Leyland, TVS Motors, Bajaj Auto, and Maruti Suzuki that gained between 1 percent to 3 percent. Yesterday, Maruti Suzuki increased the price for select models by up to Rs 34,000 to offset the adverse impact of rising input costs. With this, India's largest car-maker joins the likes of Mahindra & Mahindra and Tata Motors who have already hiked prices owing to higher input costs. That said, the same uptick in input cost may hurt auto firms' Q3FY21 earnings, analysts say. This is how auto stocks faring on technical charts: Read more

Budget 2021: Special facility to be available for FDI proposals worth over Rs 3,000 cr

Tuesday, January 19, 2021
GOI is planning to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction, according to sources. An announcement in this regard may happen in the Union Budget, scheduled to be presented on February 1. Some strategically important foreign investors include Canada pension fund CDPQ, GIC (Singapore), the Qatar Investment Authority, Temasek (Singapore), and the Abu Dhabi Investment Authority. Most of them met Prime Minister Narendra Modi through virtual meetings in early November. It is learned that foreign investors showed faith in the government’s recent initiatives and reforms. Through this window, foreign funds would receive a response from the government within three days, so that such a proposal can be fast-tracked. Also, the window will act as a point of contact between investors and the various ministries and departments concerned.

MARKET UPDATE:Sensex rose 350 points and hovered around 48,900 levels and the Nifty held above 14,400

Tuesday, January 19, 2021
The Indian benchmark indices made a strong start today(19th January 2021), tracking firm cues from other Asian markets. The S&P BSE Sensex rose 350 points and hovered near 48,900 levels. The index hit an intra-day high of 49,060. The broader Nifty50 index held above 14,400. Bajaj Finance and IndusInd Bank (both up 2%) were the top Sensex gainers. Besides, Reliance Industries, HDFC, and Maruti Suzuki were also trading over 1 percent, each. Among other individual stocks, shares of Mindtree gained 4 percent after the company's consolidated net profit jumped 65.7 percent year-on-year (YoY) to Rs 326.5 crore in the December 2020 quarter. The trend among Nifty sectoral indices was positive, with the Nifty Realty index, up 2.2 percent, leading the list of gainers.

Govt likely to target fiscal deficit at 4% of GDP by FY26

Monday, January 18, 2021
The GOI is likely to lay down a road map in the upcoming Budget to reduce its fiscal deficit to 4 percent of gross domestic product (GDP) by 2025-26. This is necessary because there will be demands for expansionary policies, even in the next couple of years. This implies the government is set to deviate from the long-standing medium-term target of 2.5-3 percent of GDP as prescribed by amendments to the Fiscal Responsibility and Budget Management Act (FRBM). The government had changed the recommendations of the N K Singh Committee on fiscal consolidation and targeted bringing down the fiscal deficit to 3.1 percent of GDP by 2022-23 (FY23). However, to enable widen the fiscal deficit beyond the permissible limit under the present legislation, the government may have to propose an amendment to the FRBM Act in the Finance Bill.

Abu Dhabi plans to export hydrogen for fuel

Monday, January 18, 2021
Abu Dhabi National Oil Co. formed an alliance with Mubadala Investment Co. and ADQ to produce hydrogen from natural gas and renewable energy and to market the fuel overseas as well as in the United Arab Emirates, ADQ said in a statement. In a related deal, Abu Dhabi Future Energy Co., also known as Masdar, agreed with Siemens Energy AG to develop a facility to make green hydrogen at Masdar City in Abu Dhabi, Mubadala said in a statement. Munich-based Siemens Energy is already building a hydrogen demonstration plant at the Mohammed bin Rashid Al Maktoum Solar Park in the neighboring emirate of Dubai. Some Middle Eastern states are seeking to develop hydrogen as fuel, given a shift among some of their buyers toward less-polluting alternatives to crude. Saudi Arabia’s energy minister has said he wants the kingdom -- the world’s biggest oil exporter -- to become the largest shipper of hydrogen.

MARKET UPDATE:Sensex down 400 points to 49,620 levels and the Nifty hovered around 14,350-mark

Monday, January 18, 2021
The Indian equity markets in India slipped over half a percent in today's(18th January 2021) early deals, tracking similar cues from their Asian peers. The S&P BSE Sensex fell 400 points to 48,620 levels and the Nifty50 index hovered around 14,350-mark. ONGC (down 4%) was the top Sensex loser, followed by Bajaj Finance, Bajaj Finserv, and IndusInd Bank (all down 3%). On the other hand, HDFC Bank gained over 2 percent after recording an 18 percent rise in net profit at Rs 8,758.3 crore in the December quarter of the current fiscal year (Q3FY21), driven by robust growth in net interest income and other income. Among other individual stocks, shares of diagnostic chain Metropolis Healthcare rose 4 percent after the company said it will acquire Dr. Ganesan's Hitech Diagnostic Centre to strengthen its leadership position in southern India. Read more

India Inc goes into hiring mode as demand picks up

Friday, January 15, 2021
The mood of optimism all around has given rise to positive sentiment in the hiring market, with top companies such as the Tatas, Birlas, Reliance, and ITC planning to add more staff in the coming months. Most of the hirings are, however, in the entry or junior level, say HR managers. While TCS, created a record of sorts by hiring 15,721 people in the December quarter, other group companies are not far behind. Tata Projects, which recently bagged the prestigious Central Vista project, also plans to hire more people soon. Infosys, too, has announced it will hire 24,000 freshers from cam­p­­uses this year. The Aditya Birla group is looking at fresh talent for its various verticals. Hiring by Reliance Retail and Reliance Jio has picked up as well, with both getting ready to onboard people from the Future Group and other acquisitions, according to sources. Auto is another sector where hiring is set to rise.

HCL Q3 net profit up 31%

Friday, January 15, 2021
HCL Technologies posted a strong set of numbers for the December quarter, with net profit up 31.1 percent year-on-year (YoY) at Rs 3,982 crore as compared to the corresponding quarter a year ago. The net profit rose 26.7 percent on a sequential basis. HCL's consolidated revenue rose 6.4 percent to Rs 19,302 crore YoY and 3.8 percent sequentially. The EBIT margin of the IT services provider expanded 265 basis points on a YoY basis to 22.9 percent in the October-December period - a 24 quarter high. The company’s revenue also crossed the $10-billion milestone in 2020, delivering a 3.6 percent YoY growth in constant currency. The company won 13 transformational deals across industry verticals, including life sciences and healthcare, technology, and financial services. “The solid performance was driven by robust momentum in its Mode 2 and Mode 3 businesses led by digital, cloud and products & platform segments, according to president & CEO, HCL Technologies.

Majority of the fund managers failed to beat Nifty returns in December

Friday, January 15, 2021
The majority of the fund managers failed to beat Nifty returns in December, even as the Indian equity benchmarks continued to hit fresh record highs through the month, propelled by foreign fund flows. Among the underperformers were schemes run by the fund houses of Shankar Sharma (First Global), Sameer Arora (Helios), Bharat Shah (ASK), 2POINT2 Capital, Motilal Oswal, IIFL, Emkay, and Axis, among many others, data from PMS Bazaar showed. Out of 130-odd large-cap and multi-cap schemes analysed, nearly 100 gave lower returns than that of Nifty. Midcap-focused funds were relatively better off, as only 10 out of 19 schemes underperformed the relevant benchmark, while smallcap-focussed schemes fared worse, with 10 out of 13 lagging their benchmark. Read more

Closing Bell:Sensex down 549 points, Nifty at 14433.70

Friday, January 15, 2021
At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and the Nifty down 161.90 points or 1.11% at 14,433.70 concerns over coronavirus lockdown in China and European countries. Bharti Airtel was the top gainer followed by ITC, Bajaj Auto, and Bajaj Finance. Tech Mahindra was the top loser followed by ONGC, HCL Tech, Asian Paints, Ultratech Cement, HUL, and NTPCAbout 1070 shares have advanced, 1897 shares declined, and 139 shares are unchanged. All the sectoral indices on the NSE closed with a red tick. Nifty IT and Nifty PSU Bank index ended with 2 per cent cuts while Nifty Financial Services, FMCG, Metals, and Private bank were down 1 per cent. Nifty Bank index skid 273 points, or 0.8 per cent, and ended at 32,247. The S&P BSE MidCap and SmallCap indices settled with a cut of 1.25 per cent and 1.06 per cent, respectively. India VIX, surged to close above 24 levels.

MARKET UPDATE:Sensex down 200 points to 49,360 levels and the Nifty gave up the 14,550-mark

Friday, January 15, 2021
The equity markets in India edged lower in today's(15th January 2021) early deals, tracking similar cues from their Asian peers. The S&P BSE Sensex hovered around 49,360 levels, down 200 points, and the Nifty50 index gave up the 14,550-mark. UltraTech Cement dipped 2 percent and was the top Sensex laggard, followed by Tech Mahindra, Infosys, and Asian Paints (all down 1%). On the other hand, Bharti Airtel surged 5 percent after the MSCI said it would decide on increasing the weight of Bharti Airtel during its upcoming index review in February. HCL Technologies also rose 1 percent in early deals after posting a 34.8 percent year-on-year (YoY) jump in its consolidated net profit to Rs 3,969 crore for the December 2020 quarter (FY2021). The Nifty sectoral indices were trading largely in the red, with the Nifty IT index, down 0.8 percent, leading the list of losers. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.1 percent up, each. Read more

December wholesale inflation slows to 1.22% in India

Thursday, January 14, 2021
The wholesale price-based inflation slowed to 1.22 percent in December on easing food prices, as per government data released today(14th January 2020). The inflation based on the Wholesale Price Index (WPI) was 1.55 percent in November 2020, and 2.76 percent in December 2019. The rate of inflation based on the WPI Food Index decreased from 4.27 percent in November 2020, to 0.92 percent in December 2020, as per the data released by the Department for Promotion of Industry and Internal Trade. It is to be noted here that retail inflation had also dropped sharply to 4.59 percent in December, mainly due to declining food prices.

Tata Consumer is expected to replace GAIL in the Nifty50 index

Thursday, January 14, 2021
Tata Consumer is expected to replace state-run GAIL in the Nifty50 index as part of the semi-annual reshuffle, say experts. The index is reconstituted semi-annually, considering six months of data ending January and July, respectively, and a four weeks’ prior notice is given to the market participants. In the last rejig, SBI Life Insurance and Divi's Laboratories had replaced Bharti Infratel and ZEE Entertainment Enterprises. GAIL currently has an estimated weight of 40 bps in the index, while Tata Consumer is expected to enter the index with a weight of 60 bps. The rejig would entail ETFs and index funds buying worth Rs 7.6 billion and selling worth Rs 5.1 billion. According to the Nifty index inclusion criteria, the stock should be a part of the F&O segment.

Hindustan Aeronautics Limited gains 13 per cent on Tejas order

Thursday, January 14, 2021
Shares of Hindustan Aeronautics Limited gained 13 per cent to Rs.1043.45 today after the government approved Rs 48,000-crore deal to acquire 83 Tejas aircraft from the company. The cabinet approved procurement of 73 Tejas Mk-1A fighter aircraft and 10 Tejas Mk-1 trainer aircraft. Madhavan, chairman and managing director of the HAL, said the production rate of Tejas is being augmented from eight to 16 aircraft per year through the creation of a new infrastructure in Bengaluru."He said according to estimates the Tejas programme will generate direct employment to 5,000 people across the country. The LCA-Tejas is going to be the backbone of the IAF fighter fleet in years to come," Singh said. "The indigenous content of LCA-Tejas is 50 per cent in Mk1A variant which will be enhanced to 60 per cent," he said. It will act as a catalyst for transforming the Indian Aerospace manufacturing ecosystem. All three analysts tracking the company recommend a ‘buy’ rating.

Closing Bell:Sensex gains 91.84 per cent, Nifty at 14595.60

Thursday, January 14, 2021
At close, the Sensex was up 91.84 points or 0.19% at 49,584.16, and the Nifty was up 30.70 points or 0.21% at 14,595.60 as Tata Consultancy Services (TCS) and Reliance Industries helped the benchmark indices erase early losses.IndusInd Bank, TCS, and L&T were the top gainers on Sensex at closing. Axis Bank and HCL Technologies were the top drags. About 1467 shares have advanced, 1489 shares declined, and 166 shares are unchanged. The metal index lost 1 per cent, Nifty Pharma and Nifty FMCG indexes, up 0.8 per cent and 0.7 per cent, respectively.The S&P BSE MidCap and SmallCap indices ended 0.29 per cent and 0.17 per cent higher, respectively.

MARKET UPDATE:Sensex fell 200 points to 49,260 levels and the Nifty fell below 14,550 levels

Thursday, January 14, 2021
The Indian equity markets declined nearly half a percent in today's(14th January 2021) early deals, dragged by tech stocks, ahead of the weekly F&O expiry later in the day. The S&P BSE Sensex fell 200 points to 49,260 levels and the Nifty50 index fell below 14,550 levels. Infosys tumbled 4 percent in opening deals as investors booked profit after the company largely beat Street estimates on all fronts for the December quarter results. Among other IT stocks, HCL Tech and Tech Mahindra also slipped 2 percent each. Besides, Hindustan Aeronautics surged as high as 12 percent in early deals after the government approved procurement of 83 indigenously-developed light combat aircraft 'Tejas' for the Indian Air Force at a cost of Rs 48,000 crore. The majority of the Nifty sectoral indices were trading higher, although the Nifty IT index dipped 2 percent. Read more

Closing Bell:Sensex down 25 points, Nifty at 14564.85

Wednesday, January 13, 2021
At close, the Sensex was down 24.79 points or 0.05% at 49492.32, and the Nifty was up 1.40 points or 0.01% at 14564.90 as Investors turned to profit-booking, after benchmarks scaled fresh lifetime highs in the morning deals. Mahindra & Mahindra, while State Bank of India, Bharti Airtel, and ITC were top gainers. Bajaj Finance, HDFC Shree Cements, Bajaj Finserv were the top losers. About 1200 shares have advanced, 1807 shares declined, and 143 shares are unchanged. Nifty Pharma ended 1 per cent lower. On the upside, Nifty PSU index surged 3.3 per cent.BSE Midcap and Smallcap ended lower by 0.6 per cent and 0.4 per cent respectively.

India’s endless bank salvage pain

Wednesday, January 13, 2021
India's state-dominated lending system’s aggregate balance sheet had a gaping hole even before Covid-19. Now things could turn uglier. The regulator’s latest stress test projects nonperforming assets to jump to 13.5% of loans and advances by September in its baseline scenario, and 14.8% in the worst-case situation, almost doubling from 7.5% a year earlier. After many tough years, making India’s broken banks whole is still very much like pulling teeth. The twists and turns in the $12 billion bankruptcy of a housing finance company show how challenging it may be for the country to nurse its post-pandemic financial system to health.

Byju’s to acquire test prep leader Aakash Educational Services Ltd. for$1 billion ?

Wednesday, January 13, 2021
India's online-education giant Byju’s has signed a deal to acquire brick & mortar test prep leader Aakash Educational Services Ltd. for $1 billion, according to some sources. Bangalore-headquartered Byju’s is valued at $12 billion and has been on a fund-raising spree as the pandemic has sent a demand for its online lessons soaring. Blackstone Group-backed Aakash Educational Services runs Aakash Institute, which has over 200 brick and mortar centers and tutors students to gain entry into the country’s elite engineering and medical schools. Its student count is over 250,000, according to its website. While online learning startups have thrived, offline tutoring centers have been badly hit by the pandemic, which has closed schools and tutoring centers since March last year. Read more

MARKET UPDATE:SSensex up by 210 points at 49,730 levels and Nifty holding above the 14,600-mark

Wednesday, January 13, 2021
The markets in India continued their record-breaking spree and logged fresh lifetime highs today(13th January 2021), with the S&P BSE Sensex eyeing the landmark 50,000 level. The Sensex was trading 210 points, or 0.4 percent, at 49,730 levels and the Nifty50 index was holding above the 14,600-mark. Bharti Airtel surged 5 percent after the company said it is initiating the process to revise its foreign investment limit to 100 percent with immediate effect. Besides, ONGC and State Bank of India were also up 2 percent, each. All the Nifty sectoral indices were ruling higher, led by the Nifty Metal index, up 1.5 percent. Besides, the Nifty Bank index hit a fresh record high at 32,559 in intra-day deals. Infosys, Wipro, Amtek Auto, GTPL Hathaway, and six other firms are slated to release their Q3 numbers today. Read more

Tata Motors gains 13 per cent today post JLR Q3 retail sales numbers

Tuesday, January 12, 2021
Shares of Tata Motors hit a fresh 52-week high of Rs 249.50, up 13.35 per cent on the BSE on Tuesday, amid buzz over the partnership with Tesla and encouraging sales numbers from Jaguar Land Rover (JLR) for the third quarter. The stock of Tata group commercial vehicles company was trading higher for the eighth straight day and has rallied 25 per cent during the period.The market cap of the firm rose to Rs 74,784 crore. Tata Motors, in a release, said JLR’s retail sales for the quarter ending December 2020 were 128,469 vehicles, 13.1 per higher than the 113,569 vehicles sold in the preceding quarter, but down 9 per cent on the same period last year. China sales were particularly encouraging, up 20.2 per cent on the prior quarter and 19.1 per cent year-on-year (YoY)," JLR said in a media statement. The global research firm has retained a buy rating with the target at Rs 270 per share

Closing Bell:Sensex gains 247.79, Nifty at 14563.45

Tuesday, January 12, 2021
At close, the Sensex was up 247.79 points or 0.50% at 49,517.11, and the Nifty was up 78.70 points or 0.54% at 14,563.50. Bharti Airtel, State Bank of India, and Reliance Industries were the top gainers while Asian Paints, Titan, and Nestle were top losers. About 1647 shares have advanced, 1387 shares declined, and 158 shares are unchanged. Nifty PSU Bank index leapt 6 per cent on the NSE. Nifty Realty index, up 3 per cent, and Nifty Auto index, Nifty Bank, infra and energy up 1.3 per cent, The S&P BSE MidCap index up 0.4 per cent and the SmallCap index gained 0.25 per cent. Among Nifty sectoral indices, only Nifty Pharma and Nifty FMCG closed in the red.

Where is the coronavirus headed in India?

Monday, January 11, 2021
There has been a steady decline in the daily number of cases and deaths, since the peak of mid-September in India when govt readies for a massive mass immunisation drive. Less than 300 daily coronavirus deaths were recorded in the country for the last 16 days with the national recovery rate improving to 96.42 percent, according to data from the union health ministry. Given that we will never know the true numbers during the pandemic or even after it, the trajectory is important and it has been on the downward slope, which leads to a pressing question- Is the worst of the pandemic over? It is hard to say if the first wave is ending and if there would be a second one. That depends on the number of people who have been exposed to the virus. Considering that India went through two important periods without any significant upturn – Dussehra to Diwali festive season and elections that followed, experts say it is safe to assume that the epidemic is under control. Read more

MARKET UPDATE:SSensex gained 400 points at 49,190 levels and Nifty topped 14,420 level

Monday, January 11, 2021
The Indian markets scaled fresh record highs on Monday, with the S&P BSE Sensex scaling Mount 49,000 for the first time ever, on the back of favorable global cues and strong Q3 earnings. The S&P BSE Sensex gained 400 points, or 0.8 percent, at 49,190 levels and the Nifty50 index topped the 14,420 level. Technology stocks were the lead Sensex gainers, with Infosys, HCL Tech, and TCS rising 3%, 2%, and 1%, respectively. Tata Consultancy Services' profit jumped 7 percent YoY in the December quarter to Rs 8,701 crore, according to the results announced post market hours on Friday. Besides, shares of Avenue Supermarts gained 2 percent after the firm posted a 16 percent jump in Q3 profit. All the Nifty sectoral indices, except the Nifty Metal index, were trading higher, led by the Nifty IT index, up 2 percent.

Few stocks that may give better returns in 2021

Friday, January 8, 2021
The market which is already trading at record highs has more legs than earlier, believe many analysts. They believe the market will run up ahead of, and in anticipation of, and ensuing economic recovery. The following few stocks may get the best of the rally in the market in the next year, according to many analysts: 1. Sobha | Target: Rs 640 | Upside: 45%: Sobha is a better-placed company in the realty space backed by its strong brand, better product realizations, back‐ward integration of processes including in‐house design, architecture, mechanical, electrical, plumbing and engineering, superior execution capabilities and diversifications from Bangalore market to a pan India player. Also, the company is likely to be a prime beneficiary of consolidation in the industry. Read more

IT Shares trading higher, surging up to 6 per cent on the BSE

Friday, January 8, 2021
Shares of IT companies were trading higher, surging up to 6 percent on the BSE, ahead of sector giant Tata Consultancy Services' (TCS'), October-December 2020 quarter (Q3FY21) result, scheduled to be announced after market hours today (8th January 2021). Amid the rally, With a market cap of Rs 1.02 trillion at 02:15 pm, Tech Mahindra became the fifth IT company that joined Rs 1-trillion m-cap club. Overall, the company stood at 30th position in them-cap ranking, BSE data shows. Currently, among IT companies, TCS is numero uno with Rs 11.66 trillion market cap, followed by Infosys (Rs 5.53 trillion), HCL Technologies (Rs 2.69 trillion), and Wipro (Rs 2.44 trillion), data shows. Read more

MARKET UPDATE:Sensex up 300 points at 48,410 levels and Nifty hit an intra-day high of 14,259

Friday, January 8, 2021
The markets in India made a strong start to today's(8th January 2021) session, with the Nifty50 index and the MidCap index hitting their fresh record high levels, on the back of firm global cues. The S&P BSE Sensex was up 300 points at 48,410 levels, while the Nifty50 index hit an intra-day high of 14,259, also its fresh record high. Tech Mahindra, Sun Pharma, and Infosys (all up 2%) were the top Sensex gainers. All the Nifty sectoral indices were trading with gains, led by the Nifty IT index, up 1.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indices were trading 0.5 percent 0.9 percent higher, respectively. Information technology (IT) major TCS is among the five companies scheduled to announce their December quarter earnings today. Read more

Pro-Trump mob attacks US Capitol

Thursday, January 7, 2021
yesterday(6th Janar 2021) and forced lawmakers into hiding, in a stunning attempt to overturn America’s presidential election, undercut the nation’s democracy and keep Democrat Joe Biden from replacing Trump in the White House. The nation’s elected representatives scrambled to crouch under desks and don gas masks, while police futilely tried to barricade the building, one of the most jarring scenes ever to unfold in a seat of American political power. A woman was shot and killed inside the Capitol, and Washington’s mayor instituted an evening curfew in an attempt to contain the violence. Read more

MARKET UPDATE:Sensex trading 250 points higher at 48,420 levels and Nifty holding above 14,220-mark

Thursday, January 7, 2021
The equity markets in India returned to their winning ways after a day's hiatus, with the headline indices trading half a percent higher and the MidCap index hitting their fresh lifetime highs, on the back of broad-based buying, in today's(7th January 2021) early deals. The S&P BSE Sensex was trading 250 points, or half a percent, up at 48,420 levels. The broader Nifty50 index was also holding above the 14,220-mark, after hitting a fresh all-time high of 14,256 in early deals. IndusInd Bank and Axis Bank (both up 2%) were the lead Sensex gainers, followed by State Bank of India, Larsen & Toubro, ICICI Bank, and Mahindra & Mahindra (all up 1% each). All the Nifty sectoral indices were trading in the green. Realty stocks were ruling higher after the Maharashtra government approved the proposal to cut the premium on real estate projects by half till December 31, 2021. As a result, the Nifty Realty index surged 3 percent and was the top Nifty sectoral gainer. Read more

RBI fines Bajaj Finance for breaching regulatory compliance norms

Wednesday, January 6, 2021
Shares of Bajaj Finance were 2 per cent down today after the Reserve Bank of India on Tuesday imposed a penalty of ₹2.5 crores for breaching regulatory compliance norms by an order dated January 05, 2021for violation of directions issued by RBI on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs and Fair Practices Code (FPC) for applicable NBFCs, contained in the Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016; and a specific direction to the company to ensure full compliance with FPC in letter and spirit," the RBI said in a statement.“This penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934, taking into account the failure of the company to ensure that its recovery agents did Read more

Closing Bell:Sensex down 264 points, Nifty at 14146.25

Wednesday, January 6, 2021
At close, the Sensex was down 263.72 points or 0.54% at 48,174.06, and the Nifty was down 53.20 points or 0.37% at 14,146.30. Reliance Industries Ltd (RIL), ITC, Infosys, Tata Consultancy Services (TCS) and Hindustan Unilever Ltd (HUL) contributed the most to the indices’ loss today. while gainers included Power Grid Corp, Shree Cements, GAIL, Hindalco and Grasim Industries. About 1494 shares have advanced, 1543 shares declined, and 128 shares are unchanged. Nifty IT and Nifty FMCG indices were the top sectoral losers on the NSE, down over 1 per cent each. On the contrary, Nifty Metal index managed to close 1 per cent higher. The BSE MidCap index ended 0.4 per cent up and the BSE SmallCap index down 0.14 per cent.

Resurgence in coronavirus infections: Services sector in India loses steam in December

Wednesday, January 6, 2021
Growth in India's services industry continued to lose momentum in December as a resurgence in coronavirus infections weighed on new business and employment, according to a private survey today. Asia's third-largest economy has been gradually recovering from a coronavirus-induced recession but is not expected to return to pre-pandemic levels soon, especially within the service industry - the engine of economic growth and jobs in the country. The Nikkei/IHS Markit Services Purchasing Managers' Index fell to 52.3 in December from November's 53.7 but held above the 50-mark separating growth from contraction for a third straight month. "A spike in Covid-19 cases was reported as a key factor restricting the growth of new work intakes among service providers, which in turn curbed the rise in output and led to increased business uncertainty about the outlook,", said the report. Read more

Chris Wood has increased weightage of Indian equities in his Asia Pacific ex-Japan relative-return portfolio

Wednesday, January 6, 2021
Christopher Wood, Global Head of Equity Strategy at Jefferies, has nudged to increase exposure to Indian equities in his ‘GREED and Fear’ portfolio yet again due to a downward-sloping Covid-19 graph and an upward-sloping Nifty50 chart in India. Wood has increased the weightage of Indian equities by 150 basis points to 14 percent in his Asia Pacific ex-Japan relative-return portfolio, by trimming exposure to Chinese and Pakistani equity markets Last month, Wood had raised concerns over the sharply expanding valuations of the Indian equity market, but he sounded confident that valuations will become relatively cheaper as corporate earnings growth catch up in 2021.

MARKET UPDATE:Sensex trading 55 points higher at 48,490 levels and Nifty holding above 14,200 levels

Wednesday, January 6, 2021
The markets in India were trading flat with a positive bias in today's(6th January 2020) early deals, tracking mixed global cues. The S&P BSE Sensex was trading 55 points higher at 48,490 levels and the Nifty50 index was holding above 14,200 levels. ONGC (up 4%) was the top Sensex gainer, followed by Titan which rose 3 percent after giving a business update for the December quarter of FY21. ICICI Bank, Larsen & Toubro, and Bharti Airtel (all up 1%) were the other top gainers. The majority of the Nifty sectoral indices were trading with gains, led by the Nifty Metal index, up 1 percent.

Indian economy witnessing 'V-shaped' recovery since June: FinMin

Tuesday, January 5, 2021
According to a Finance Ministry report India has been witnessing a 'V-shaped' recovery since June with the gradual easing of restrictions on economic activities." The sustained improvement in high-frequency indicators ignite optimism of improved performance in the second half of the year," it said. The Monthly Economic Recovery for December by the Department of Economic Affairs (DEA) also noted that the impending vaccination is set to spur the momentum in economic activity globally. "The effective management of Covid-19 spread despite the festive season and onset of the winter season, combined with sustained improvement in high-frequency indicators and V-shaped recovery along with easing of lockdown restrictions distinguish Indian economy as one riding against the Covid-wave," it said. Read more

Closing Bell:Sensex gains 261 points, Nifty at 14199.50

Tuesday, January 5, 2021
At close, the Sensex was up 260.98 points or 0.54% at 48,437.78, and the Nifty up 66.60 points or 0.47% at 14,199.50 erased all the intraday losses and ended near the day's high helped by the IT and Financials.Axis Bank was the top gainer followed by HDFC, IndusInd Bank, and TCS. Bajaj Finance, Reliance Industries and Bajaj Finserv were losers in the Sensex pack. About 1740 shares have advanced, 1268 shares declined, and 159 shares are unchanged. Nifty Bank and IT indices rose 1.5-2.5 per cent. Among Nifty sectoral indices, only Nifty Auto, Nifty Metal and Nifty Realty ended with losses. The BSE MidCap index ended 1.4 per cent higher. The SmallCap counterpart ended 0.7 per cent.

MARKET UPDATE:Sensex fell 100 points to 48,070 levels and Nifty hovered around 14,100

Tuesday, January 5, 2021
Markets in India were trading lower in today's(5th January 2020) opening deals, on the back of weak global cues. Among headline indices, the S&P BSE Sensex fell 100 points to 48,070 levels and the Nifty50 index hovered around 14,100. ONGC (down 2%) was the top Sensex laggard, followed by Mahindra &Mahindra, NTPC, and ICICI Bank (all down 1%). The majority of the Nifty sectoral indices were trading in the red, led by Nifty PSU Bank and Nifty Metal indexes, down 1 percent, each.

Seventh round of Centre-farmer unions' talks today in Delhi

Monday, January 4, 2021
The seventh round of meeting between the Central government and farmers' representatives is underway at Vigyan Bhawan in Delhi. Farmers' leaders and officials present at the meeting observed silence to pay condolence to the farmers who died during the ongoing protest. Bharatiya Kisan Union (BKU) spokesperson, Rakesh Tikait claimed that a total of 60 farmers have so far lost their lives during the ongoing farmers' protest against the new farm laws. Protesting farmers who have been camping at Delhi borders for the last 39 days braving the bone-chilling cold and now rains have threatened to intensify their protest if their two major demands -- repeal of the three new farm laws and legal backing for the minimum support price (MSP) -- are not accepted by the government in today's meeting. Read more

Manufacturing sector activities showed a marginal improvement in December

Monday, January 4, 2021
Indian manufacturing sector activities showed a marginal improvement in December compared to the previous month even as employment generation remained low, showed the widely-tracked IHS Markit purchasing managers' index (PMI) survey. PMI inched up to 56.4 in December compared to 56.3 in November. However, it remained lower than 58.9 in October and 56.8 in September, the two months during which the economy saw a gradual lifting of lockdowns. A reading above 50 shows growth, while the print below 50 means contraction. Reflecting the loosening of Covid-19 restrictions, strengthening demand, and improved market conditions, factory orders increased during December. In response, firms lifted production again. In both cases, rates of expansion remained sharp despite easing to four-month lows. Read more

Closing Bell:Sensex gains 307 points, Nifty at 14132.90

Monday, January 4, 2021
At close, the Sensex was up 307.82 points or 0.64% at 48,176.80, and the Nifty was up 114.40 points or 0.82% at 14,132.90. ONGC, TCS, and HCL Technologies were the top Sensex gainers. Bajaj Finance, Asian Paints, HDFC Bank, and Hero MotoCorp were the top losers. About 2061 shares have advanced, 973 shares declined, and 158 shares are unchanged. The nifty Metal index jumped 5 per cent. Nifty Bank, Nifty Private Bank, and Nifty Financial Services indices ended the day in the red. Nifty smallcap 50 was up 1.46% while Nifty midcap 50 was up 2.02%. Volatility inched 2.3% higher.

MARKET UPDATE:Sensex shot up 230 points to above the 48,000 levels for the first time ever and Nifty hovered around 14,100 zone

Monday, January 4, 2021
The markets in India made a firm start today(4th January 2021), recording their fresh new high, after the Indian drug regulator DGCI gave its approval to Covid vaccines produced by AstraZeneca and Bharat Biotech for emergency use in the country. Among the headline indices, the S&P BSE Sensex shot up 230 points and was trading above the level of 48,000 for the first time ever. The broader Nifty50 index also hovered around the 14,100 zones. ONGC, TCS, State Bank of India, Infosys, and IndusInd Bank (up 1% each) were the top Sensex gainers. On the other hand, Reliance Industries was trading with marginal cuts after Sebi imposed penalties on the conglomerate for alleged manipulative trading in the shares of erstwhile Reliance Petroleum, back in November 2007. Read more

Expectations from fixed income market in 2021: What experts say

Friday, January 1, 2021
The year 2021 will be marked with hopes for the early rollout of the Covid-19 vaccine, normalisation of economic activities, and a steady recovery in growth. India will see a slow cyclical recovery along with the gradual easing of inflation, though that may not be enough to sustain RBI’s accommodative policy stance. Interest rates will likely harden with no rate cuts and persistent fiscal pressure. Key risks for the government will be to steer through any financial sector stress, reviving the weak investment cycle, and any adverse issues with global liquidity. Two issues will shape India’s macro-economic situation in CY2021; easy money policies in developed markets and rollout/mass availability of Covid vaccines. Easier global monetary policies will aid risk-on flows, while vaccine rollouts Interest rates will likely harden with no rate cuts and persistent fiscal pressure. Read more

GST collection rose to highest ever level at over Rs 1.15 trillion in December

Friday, January 1, 2021
GST (Goods and services tax) collections have hit a record of over Rs 1.15 trillion in December against Rs 1.04 trillion the previous month. Before this, the highest GST collection was Rs 1.14 trillion in April 2019. The collections were 10.57 percent higher month-on-month and 11.65 percent higher on a year-on-year basis despite the fact that the base was elevated on both the yardsticks. The government had collected Rs 1.03 trillion in December 2019. December is the third straight month when the collections crossed the Rs one trillion mark. Some of it could also be due to the plugging of GST revenue leakage by the government on account of fake credits through fraudulent invoicing and the introduction of e-invoicing. E-invoicing is mandatory for companies with an annual turnover of Rs 500 crore from October 2020 onwards and was extended to those with an annual turnover of Rs 100 crore from today.

India Inc goes on M&A spree despite pandemic in 2020, New year will be brighter

Thursday, December 31, 2020
Indian conglomerates bought and sold companies in record-breaking deals despite a majority of smaller firms ending the year on a dull note. Many corporate India is ending 2020 with battered sales and profits due to the pandemic while a few top companies saw a phenomenal rise in their market valuation. The year 2020 will be remembered for the billions of dollars’ worth of investments reported by Reliance Industries by selling a stake in its telecom services arm, Jio Platforms. As soon as the Mukesh Ambani-led firm stopped selling stakes in Jio, global investors queued up to invest in its organised retail arm, making the company virtually debt-free. Backed by billions of dollars of investments from marque global investors, Ambani then acquired Future group’s entire retail and wholesale business for Rs 25,000 crore, giving the group a significant lead in organised retail. Read more

MARKET UPDATE:Sensex hovered around 47,740 levels and Nifty testing the 14,000-mark

Thursday, December 31, 2020
The markets in India were trading flat with a positive bias in the final trading session of the year 2020 today(31st December 2020) ahead of the expiry of December series derivative contracts later in the day. Among headline indices, the S&P BSE Sensex hovered around 47,740 levels and the Nifty50 index was testing the 14,000-mark. ONGC (up 1%) was the top Sensex gainer, followed by Titan, Bajaj Finance, and ICICI Bank (up to half a percent, each). The Nifty sectoral indices were mixed, with the Nifty Realty index, up 1 percent, leading the list of gainers. Anarock yesterday said that housing sales in the October-December rose to 50,900 units across seven big cities from 29,520 units in the previous quarter. In the broader markets, the S&P BSE MidCap and SmallCap indices were up 0.4 percent each, outperforming their headline peers.

The stock of Orchid Pharma zoomed 567 per cent since its relisting

Wednesday, December 30, 2020
Currently, Orchid Pharma is trading under the T group on the BSE. In the T2T segment, each trade has to result in delivery and no intra-day netting of positions is allowed. According to the latest shareholding pattern data, the promoter Dhanuka Laboratories held a 98.04 percent stake in Orchid Pharma. The public shareholders held a mere 2 percent holding, of which, 1 percent stake is with the financial institutions and banks, while individual shareholders held a 0.55 percent stake in the company, the data shows. On March 31, 2020, the resolution plan under Corporate Insolvency Resolution Process (CIRP) has been implemented and the Board has been re-constituted with the members nominated by Dhanuka Laboratories, Haryana, India, the resolution applicant. Read more

UK becomes world's first nation to approve AstraZeneca-Oxford Covid vaccine

Wednesday, December 30, 2020
Britain on Wednesday became the first country in the world to authorize coronavirus vaccine developed by Oxford University and AstraZeneca. The British Department of Health said it had accepted a recommendation from the Medicines and Healthcare Products Regulatory Agency to allow the use of the shot as it battles a major winter surge driven by a new, highly contagious variant of the virus. The authorisation in the U.K. is significant for India, as the Pune based Serum Institute of India (SII) has tied up with AstraZeneca to deploy the vaccine in India. It is the second COVID-19 vaccine to receive the green light in Britain, after one developed by Pfizer and its German partner, BioNTech, which is already being administered throughout the U.K.The U.K. has bought 100 million doses of the AstraZeneca shot. British Health Secretary Matt Hancock told Sky News that the vaccine’s rollout would start Monday. Read more

Closing Bell:Sensex gains 133 points, Nifty at 13981.95

Wednesday, December 30, 2020
At close, the Sensex was up 133.14 points or 0.28% at 47,746.22, and the Nifty was up 49.40 points or 0.35% at 13,982.00 for the sixth consecutive session on Wednesday. UltraTech Cement, Bajaj Finance, Maruti Suzuki, Asian Paints and Tech Mahindra were top gainers in the Sensex pack. On the flip side, IndusInd Bank was top Sensex loser, followed by Sun Pharma, Axis Bank, TCS, Bharti Airtel, State Bank of India (SBI), Infosys and ICICI Bank. About 1642 shares have advanced, 1257 shares declined, and 177 shares are unchanged. The nifty Auto index gained 1.34 per cent while the Nifty Metal index jumped 1.29 per cent. Nifty PSU Bank index was the top sectoral loser, down 0.23 per cent. Except for bank and pharma, other sectoral indices ended in the green. The S&P BSE MidCap and SmallCap indexes ended 0.5 and 0.37 per cent higher, respectively.

L&T wins 'significant' contract in Chhattisgarh

Tuesday, December 29, 2020
Larsen & Toubro (L&T) today(29th December 2020) informed that it has won a 'significant' (which may range between Rs 1,000 crore to Rs 2,500 crore) contract in Chhattisgarh. "The Water and Effluent Treatment business of L&T Construction has secured an EPC (engineering, procurement, and construction) order involving design, engineering, supply and installation of plant and equipment to lay 135 km of slurry pipeline and water pipeline systems between Bacheli and Nagarnar and associated facilities in the state of Chhattisgarh," the company said in a statement. L&T is already executing a pumping facility as part of another package for the same client in the same area that involves the supply of positive displacement pumps and the construction of a slurry pump house, it added.

Vedanta Resources to issue $400 million notes to Oaktree Capital

Tuesday, December 29, 2020
A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. The notes will be partly secured by shares in Mumbai-listed unit Vedanta Ltd., according to separate exchange filings from Vedanta and the U.S. hedge fund. The new deal with Oaktree comes after Vedanta Resources sold $1 billion of securities earlier this month. That debt issuance was to fund a tender offer for securities due 2021. The holding company, controlled by billionaire Anil Agarwal, aims to simplify the group’s corporate structure and ease Vedanta. Resources’ access to cash after a failed attempt to delist Vedanta Ltd. in October.

Closing Bell:Sensex gains 259 points, Nifty at 13932.60

Tuesday, December 29, 2020
At close, the Sensex was up 259.33 points or 0.55% at 47,613.08, and the Nifty was up 59.40 points or 0.43% at 13,932.60. HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Housing Development Finance Corporation (HDFC), Infosys and Axis Bank were the top Sensex gainers. On the flip side Nestle India, Asian Paints, Larsen & Toubro and Power Grid Corporation of India are the only losers in the Sensex pack. About 1519 shares have advanced, 1438 shares declined, and 162 shares are unchanged. Except IT and Bank, other sectoral indices ended in the red. The BSE SmallCap index ending 0.16 per cent higher while the MidCap index slipped 0.07 per cent.

MARKET UPDATE:Sensex gained 310 points at 47,660 levels and the Nifty50 index hovered around 13,960 zone

Tuesday, December 29, 2020
The benchmark indices in India scaled fresh lifetime highs today(29th December 2020) after opening higher for the fifth straight session, on the back of favorable global cues. The S&P BSE Sensex gained 310 points at 47,660 levels and the Nifty50 index hovered around the 13,960 zones, inching closer to the landmark of 14,000. IndusInd Bank (up 2%), HCL Tech, Axis Bank, and State Bank of India (up 1%) were among the top Sensex gainers. The Nifty sectoral indices were painted green, with the Nifty Bank index, up 1 percent, leading the gainers. The broader markets tracked the gains in their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.6 percent and 0.8 percent higher, respectively.

Closing Bell:Sensex gains 380.21 points, Nifty at 123.90 points

Monday, December 28, 2020
At close, the Sensex was up 380.21 points or 0.81% at 47,353.75, and the Nifty was up 123.90 points or 0.90% at 13,873.20. State Bank of India and Titan were the top Sensex gainers followed by Larsen & Toubro and IndusInd Bank. On the other hand, Britannia, Shree cement, Cipla, Sun Pharma and Hindustan Unilever were top losers on the Sensex pack. About 1990 shares have advanced, 965 shares declined, and 177 shares are unchanged. All the Nifty sectoral indices, except Nifty Pharma, ended higher, led by Nifty Realty and Nifty Metal indexes, both up 2.6 per cent. The S&P BSE MidCap and SmallCap indexes gained 0.8 per cent and 1.5 per cent, respectively.

Closing Bell:Sensex jumps 529 points, Nifty at 13749.25

Thursday, December 24, 2020
At Close, Sensex closed 529 points, or 1.14 per cent, higher at 46,973.54 while Nifty settled at 13,749.25, with a gain of 148 points or 1.09 per cent, as investors went on Christmas holiday in a festive mood. Sun Pharma was the top gainer, followed by Axis Bank, Reliance Industries Ltd (RIL), ONGC, Housing Development Finance Corporation (HDFC), ICICI Bank, Kotak Mahindra Bank, Bharti Airtel and HUL.On the flip side, Infosys was the top Sensex losers followed by IndusInd Bank, HCL Technologies, Nestle India, Tech Mahindra and Maruti Suzuki. Nifty Bank and Nifty Financial indices ended nearly 2 per cent up each, while Nifty Pharma index gained one per cent at close.BSE Midcap and Smallcap indices closed 0.06 per cent and 0.59 per cent up, respectively.

IndiGo recovering from Covid-19 induced aviation ‘carnage’, may rehire staff

Wednesday, December 23, 2020
Shares of India’s biggest airline, Indigo gained more than 5 per cent today to Rs 1458, after Chief Executive Officer Ronojoy Dutta said it may start slowly rehiring staff in three months as capacity rebuilds from “the background of carnage” caused by Covid-19, with domestic services likely to return to pre-pandemic levels by January or February, Dutta said we are recovering pretty nicely, especially domestically and the recovery in international capacity will take longer due to quarantines and virus flareups in places such as the U.K., but the airline is hoping it will be back to normal levels by the end of 2021, according to Dutta. He also added “We are anxious to get back into the international game in a big way and we have lots of plans for rapid growth,” he said. IndiGo, has some 730 Airbus SE A320neo planes on order, laid off about 10% of its workforce due to the pandemic-driven slowdown. Read more

Closing Bell:Sensex gains 437, Nifty at 13601.10

Wednesday, December 23, 2020
At Close, Sensex closed 437 points or 0.95 per cent, higher at 46,444.18 and Nifty settled 135 points, or 1 per cent, higher at 13,601.10 as investors picked up information technology, realty, and financial stocks. Hindustan Unilever, Infosys, and Mahindra & Mahindra were the top Sensex gainers. Titan, Power Grid and NTPC were top losers in the Sensex pack. Nifty Realty index up 4 per cent and Nifty PSU Bank index up 2 per cent. BSE Midcap and Smallcap indices rose 2.40 per cent and 2.65 per cent higher, respectively. India VIX, the volatility index, cooled off over 6 per cent to end at 20.5 levels

MARKET UPDATE:Sensex hovered around 46,000 levels and Nifty index was testing the 13,500 mark

Wednesday, December 23, 2020
The equity markets in India fluctuated between gains and losses in today's(23rd December 2020) early deals, on the back of mixed global cues. The S&P BSE Sensex hovered around 46,000 levels and the Nifty50 index was testing the 13,500 marks. Tech stocks, Infosys, Tech Mahindra, HCL Tech, and TCS (all up 1%) were the top Sensex gainers. On the other hand, ONGC, down 2 percent, fell the most, while index heavyweights Reliance Industries and HDFC Bank were also down half a percent, each. Among other individual stocks, Wipro gained nearly 3.5 percent after announcing the commencement date for its Rs 9,500-crore share buyback programme. The Nifty sectoral indices were trading mixed, with the Nifty IT index, up 1.5 percent, leading the list of gainers.

The U.K. Coronavirus variant: Some facts

Tuesday, December 22, 2020
During the last few days, the world has watched with curiosity and growing alarm as scientists in the United Kingdom have described a newly identified variant of the coronavirus that appears to be more contagious than, and genetically distinct from, more established variants. Initial studies of the new variant prompted Prime Minister Boris Johnson to tighten restrictions over Christmas, and spurred officials in the Netherlands, Germany, and other European countries to ban travel from the U.K. The U.K. variant is just one variation among many that have arisen as the coronavirus SARS-CoV-2 has spread around the world. Mutations arise as the virus replicates, and this variant — known as B.1.1.7 — has acquired its own distinctive set of them. The variant came to the attention of researchers in December, when it began to turn up more frequently in samples from parts of southern England. It turned out to have been collected from patients as early as September. Read more

MARKET UPDATE:Indian benchmark indices in red;Sensex hovered around 45,240 levels, down 310 points and Nifty fell below the 13,300-mark

Tuesday, December 22, 2020
The Indian benchmark indices quickly erased their opening gains and slipped into the red, down over half percent, in today's(22nd December 2020) morning deals as investors were unable to shake off concerns amid the new strain of Covid-19. The S&P BSE Sensex hovered around 45,240 levels, down 310 points, after hitting an intra-day high of 45,938. The broader Nifty50 index also fell below the 13,300-mark. HCL Tech and Tech Mahindra (both up 2%) were the top Sensex gainers, followed by ONGC, NTPC, and PowerGrid (up to over 1% each). On the other hand, Bajaj Finance and Reliance Industries slipped 1 percent, each. All the Nifty sectoral indices, except Nifty IT, were trading lower. In the broader market, the S&P BSE MidCap and SmallCap indices were trading half a percent and 0.8 percent higher, respectively.

New Covid-19 strain effect:Sensex sinks 1,407 points

Monday, December 21, 2020
Investors on Dalal Street witnessed wealth erosion of over Rs 7 lakh crore today(21st December 2020) as market participants preferred to book profits, amid weak global cues and concerns over a new strain of the virus leading to fresh restrictions in European countries. The market capitalisation of BSE-listed firms tanked to Rs 178 lakh crore from Rs 185 lakh crore on Friday From the day's high, the Sensex index dropped 2,133 points and logged it's sharpest intra-day fall since April 2020. The Nifty index, on the other hand, lost 646 points from the day's high. Read more

India suspends flights from UK Amid Concern Over Virus Strain

Monday, December 21, 2020
The government of India has suspended all flights from and to the UK from Tuesday midnight till December 31, in view of the rising spread of a new Covid strain there. The announcement follows the discovery of a new strain of COVID-19 in the UK, leading to several nations restricting flight services to Britain. The statement came after Delhi Chief Minister Arvind Kejriwal urged the Centre to ban all flights from the UK "immediately" to contain the spread of the virus in the country. India joins a growing list of countries who have already announced restrictions on travel to the UK. These countries include Ireland, Germany, France, Italy, the Netherlands and Belgium.

Closing Bell:Sensex down 1,406 points, Nifty at 13328.40

Monday, December 21, 2020
At close, the Sensex was down 1,406.73 points or 3.00% at 45553.96, and the Nifty was down 432.10 points or 3.14% at 13328.40 as profit booking gripped the markets. The gainers included L&T, RIL, and HDFC Bank. All stocks on the Nifty50 ended lower led by the ONGC, Tata Motors, GAIL, IndusInd Bank, M&M, Hindalco and IOC. Nifty PSU Bank index cracked 7%, Nifty Realty index skid 6%, and Nifty Metal, Infra, Bank, Auto and Energy index dropped 4-5% on the NSE. India VIX, the volatility gauge, jumped over 23% in the intra-day deals to hit a high of 23.4 levels. This was the index's biggest jump since July 18.

MARKET UPDATE:Indian benchmark indices erased their early losses;Sensex trading 33 points up at 46,990 and Nifty testing the 13,750-mark

Monday, December 21, 2020
The domestic benchmark indices in India erased their early losses and turned flat after falling nearly 0.5 percent in today's(21st December 2020) opening deals amid weak cues from their Asian peers. The S&P BSE Sensex was trading 33 points up at 46,990 after hitting an intra-day low of 46,694. The broader Nifty50 index was also testing the 13,750-mark. ONGC, Axis Bank, ICICI Bank, and Mahindra & Mahindra (all down 2%) were the top Sensex laggards. On the other hand, Reliance Industries rose 1 percent after the conglomerate and its partner BP announced the first gas from the R Cluster, an ultra-deep-water gas field in block KG D6 off the east coast of India. Meanwhile, aviation stocks were under pressure in intra-day deals over the UK border closure, with SpiceJet and InterGlobe Aviation falling 5 percent and 3 percent, respectively. Read more

Indian IT shares gain on Accenture's strong performance

Friday, December 18, 2020
Shares of information technology majors, including Infosys, TCS, HCL Tech, Wipro and Tech Mahindra, traded with gains on BSE on December 18 morning hitting their respective record highs after Ireland-based Accenture reported better-than-expected results for the quarter ending November 30. The Nifty IT index hit a record high of 23,408, up 2 per cent on the NSE in intraday trade. Accenture reported strong earnings and revenue growth, revised upwards revenue growth forecast for the full fiscal year of 2021 to 4 – 6 per cent from an earlier estimate of 2 – 5 per cent. Accenture's revenue for the quarter, at $11.8 billion and up 4 per cent on a year-on-year (YoY) basis was well above its guidance and street’s estimate. Infosys gained 3 per cent at Rs 1,193 and TCS rose 2 per cent to Rs 2,894., Larsen & Toubro Infotech, HCL Technologies, Wipro and Tech Mahindra from the Nifty IT index were up in the range of 1 per cent to 3 per cent. Read more

New laws giving farmers freedom in selling their produce have brought in after a "lot of thought":PM Modi

Friday, December 18, 2020
Prime Minister Narendra Modi addressed farmers' conferences in Madhya Pradesh through video conferencing today(18th December 2020). A large number of farmers attended the 'Kisan Mahasammelan' organised at Dussehra ground in Raisen. Madhya Pradesh Chief Minister Shivraj Singh was also present on the occasion. Recently enacted laws giving farmers freedom in selling their produce "have not been brought in overnight" but are opposed by political parties for selfish reasons, said Prime Minister Narendra Modi on Friday as he insisted that support price for agricultural products will continue. Meanwhile, thousands of farmers continue to camp at several Delhi border points for the 23rd day to press for the repeal of the Centre's new farm laws. Read more

Closing Bell:Sensex gains 70 points, Nifty at 13760.55

Friday, December 18, 2020
At close, the Sensex was up 70.35 points or 0.15% at 46,960.69, and the Nifty was up 19.80 points or 0.14% at 13,760.50. Top BSE Sensex gainers were HCL Tech, Infosys, Nestle India, L&T, Tech Mahindra, Asian Paints, TCS, Titan Company and HUL. HDFC Bank was the top loser followed by HDFC, IndusInd Bank, Kotak Mahindra Bank, ONGC, Bajaj Finance, RIL and Bharti Airtel. About 1125 shares have advanced, 1611 shares declined, and 122 shares are unchanged.IT and Pharma indices rose 1 per cent each. while Nifty PSB, Nifty Private Bank, and Nifty Realty indices declined up to 0.7 per cent each. The BSE MidCap index closed at 63 points, or 0.35 per cent and the BSE SmallCap index, too, dipped 42 points, or 0.2 per cent.

MARKET UPDATE:Sensex down 100 points at 46,799 and Nifty fell below the 13,750-mark

Friday, December 18, 2020
The benchmark indices in Indian markets came under slight pressure in today's(18th December 2020) early trade after scaling fresh lifetime highs in their opening deals, with the Sensex hitting the 47,000 level for the first time ever. The S&P BSE Sensex was down 100 points at 46,799, after hitting an intra-day high of 47,026. The broader Nifty50 index fell below the 13,750-mark. IT stocks lead the way for the gainers, with HCL Tech and Infosys (both up 2%) being the top gainers, followed by TCS and Tech Mahindra (both up 1%). The Nifty sectoral indices were mixed, with the Nifty IT index, up 2 percent, leading the list of gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices were down 0.2 percent and 0.3 percent, respectively.

Closing Bell:Sensex gains 224 points, Nifty at 13740.70

Thursday, December 17, 2020
At close, the Sensex was up 223.88 points or 0.48% at 46,890.34, and the Nifty was up 58.00 points or 0.42% at 13,740.70. Top Sensex gainers were Housing Development Finance Corporation (HDFC), Bajaj Finance, HDFC Bank, IndusInd Bank, Power Grid Corporation of India and Reliance Industries Ltd (RIL), among others. On the flip side, ONGC, Maruti Suzuki, Tata Steel, Hindustan Unilever Ltd (HUL), Bharti Airtel, Infosys were among the Sensex losers. About 1234 shares have advanced, 1485 shares declined, and 137 shares are unchanged. Nifty PSU Bank and Metal indices ended the day on the NSE in the red, down 1.4 per cent and 1.3 per cent, respectively. On the upside, the Nifty Financial Services index settled as the top sectoral gainer. BSE MidCap index down 0.13 per cent. The BSE SmallCap index, down 0.23 per cent. Except for pharma and banks, other indices ended in the red.

Bharat Biotech's Covaxin's phase 1 trial data shows robust response

Thursday, December 17, 2020
Covaxin, developed by Hyderabad-based Bharat Biotech International (BBIL), appeared to inch closer to approval as its phase 1 clinical trial results showed a ‘’robust’’ immune response without any serious adverse events, the firm said in a research paper. Bharat Biotech had recently sought an accelerated approval from the regulator based on phase 1 and phase 2 studies. The company is in the middle of conducting a phase 3 trial with 22,000 subjects. Serum Institute of India, which is partnering with Astra Zeneca and Oxford University for the Covid vaccine, has also sought emergency approval. Pfizer-BioNTech too has applied for the same. Only one serious adverse event was reported around August which was not found to be causally linked to the investigational product, according the research paper.

China officially blocked coal imports from Australia

Thursday, December 17, 2020
China is forcing Australia to confront what many countries are concluding: The coal era is coming to an end. China has now officially blocked coal imports from Australia after months of vague restrictions that dramatically slowed trade and stranded huge ships at sea. For Australia, the world’s largest coal exporter, the decision is a gut punch that eliminates its second-biggest market at a time when many countries are already rethinking their dependence on a filthy fossil fuel that accelerates the devastation of climate change. While Beijing’s motives are difficult to divine, there are hints of mercantilist protection for local producers and the desire to punish Australia for perceived sins that include demanding an inquiry into the source of the coronavirus. China’s commitment to cut emissions may also allow it to be marginally more selective with its vast purchases.

MARKET UPDATE:Sensex gained 106 points to 46,770 levels and Nifty above the 13,700-mark

Thursday, December 17, 2020
The Indian equity markets were trading with meager gains today(17th December 2020) amid mixed global cues, ahead of the weekly options expiry. Among the headline indices, the S&P BSE Sensex gained 106 points to 46,770 levels and the broader Nifty50 index was above the 13,700-mark. IndusInd Bank rose 2 percent after the Sebi granted a one-month extension for the bank's promoters to infuse residual capital in lieu of conversion of warrants, issued to them last year, into equity. Besides, Reliance Industries, Sun Pharma, and Ultratech Cement (all up 1%) were the other top gainers. The trend was mixed among the Nifty sectoral indices, with the Nifty Pharma index, up 1 percent, leading the list of gainers. In the broader markets, the S&P BSE MidCap index was flat while the SmallCap index gained 0.4 percent.

Mrs Bectors IPO fully subscribed on day 2

Wednesday, December 16, 2020
The IPO of bread and biscuits maker Mrs Bectors Food opened on 15th December to strong demand and was oversubscribed in just two hours. The issue will close on December 17 with a price band of Rs 286-288 per share. Investors can bid for a minimum of 50 equity shares and thereafter in multiples of 50 equity shares. The Rs 541 crore initial public offer attracted over 12.05 times and 11.53 times subscription on Day 2 of the bidding process so far. The IPO consists of a fresh issue of Rs 40.54 crore and an offer for sale of Rs 500 crore by public shareholders. "Mrs Bector IPO is priced lower compared to the peers on the valuation front making it a strong candidate for stellar listing. The funds raised through the IPO will be utilised for brown-field expansion of its Rajpura manufacturing unit and establishing a new production line. Read more

Pfizer may price Covid-19 vaccine lower in India than in UK and US

Wednesday, December 16, 2020
Pfizer has indicated that it will have differential pricing for different countries. In the US, the company has priced the vaccine for government procurement at $39 for two doses. In the UK, the vaccine is estimated to cost close to $40 for two doses. A Pfizer India spokesperson said the company would price the vaccine in a way that can help governments ensure there is little or no out-of-pocket costs for their population. As such, its global pricing strategy is dependent on volumes, advance commitments, and affordability. "Our vaccine approach is based on the principle of ensuring broad access and supplies to governments,’’ the spokesperson said. He added that the company remains ‘’committed to engaging with the government of India and exploring opportunities to make this vaccine available for use in the country."

Closing Bell: Sensex jumps 403.29 points, Nifty at 13682.70

Wednesday, December 16, 2020
At close, the Sensex was up 403.29 points or 0.87% at 46,666.46, and the Nifty was up 114.80 points or 0.85% at 13,682.70 scaled fresh lifetime highs in Wednesday's trade.HDFC was the top Sensex gainer followed by ONGC, Bharti Airtel, Titan Company, Asian Paints, M&M, TCS, HDFC Bank and Infosys. On the contrary, ICICI Bank, IndusInd Bank, NTPC, Tech Mahindra, HCL Tech, State Bank of India (SBI) and Axis Bank were among the losers. About 1801 shares have advanced, 1129 shares declined, and 164 shares are unchanged.BSE Midcap and Smallcap indices rose 0.8 per cent each. Nifty Metal index, up 1 per cent.Except PSU Bank other sectoral indices ended in the green led by metal and auto sectors.

RBI does not want rupee appreciate much?

Wednesday, December 16, 2020
A torrential foreign fund inflow in India’s equity markets is getting mopped up by the Reserve Bank of India (RBI), swelling its reserves and preventing the rupee from appreciating. The intervention is leading to two outcomes: It is not letting the rupee to appreciate and adding liquidity in the banking system to help the government borrow a record Rs 12 trillion from the market.

MARKET UPDATE:Sensex rose 317 points at 46,580 levels and Nifty surpassed the 13,650-mark

Wednesday, December 16, 2020
The markets in India scaled fresh record high levels today (16th December 2020), tracking strong gains in Asian indices. The S&P BSE Sensex rose 317 points, or 0.7 percent, at 46,580 levels. The index hit an intra-day high of 46,592. The broader Nifty50, meanwhile, surpassed the 13,650-mark. Mahindra & Mahindra rose 3 percent and was the top Sensex gainer after saying it will hike prices of its entire range of passenger and commercial vehicles from next month. Besides, ONGC (up 2%), Asian Paints, Bajaj Finance, and Tata Steel (all up1%) were the other top gainers. All the Nifty sectoral indices, except the Nifty PSU Bank index, we're going strong, led by the Nifty Metal index, up 1 percent. In the broader markets, both the S&P BSE MidCap and SmallCap indices were ruling half a percent up.

India is the world's best market for portfolio disclosure: Morningstar report

Tuesday, December 15, 2020
India and the U.S. are the two most investor-friendly markets in the world in terms of best practices for portfolio disclosure, while Australia ranks at the bottom, according to a global study by Morningstar Inc. The two countries earned top grades for their robust disclosure regimes across six categories including fees, transparency of fund holdings, and issues such as conflicts of interest. The report covering 26 markets across North America, Europe, Asia, and Africa singled out Australia as a notable laggard. “The U.S. has consistently led the pack in this area, while India has gradually added global best practices to its disclosure framework,” Christina West, director of manager research services at Morningstar and co-author of the study, said in a statement. “India has also set a high standard with monthly required portfolio holdings disclosure.”

S&P raised India's growth projection for the current fiscal to (-) 7.7% from (-) 9%

Tuesday, December 15, 2020
S&P Global Ratings today(15th December 2020) raised India's growth projection for the current fiscal to (-) 7.7 percent from (-) 9 percent estimated earlier on rising demand and falling COVID infection rates. "Rising demand and falling infection rates have tempered our expectation of COVID's hit on the Indian economy. S&P Global Ratings has revised real GDP growth to negative 7.7 percent for the year ending March 2021, from negative 9 percent previously," S&P said in a statement. The US-based rating agency said its revision in growth forecast reflects a faster-than-expected recovery in the quarter through September. For the next fiscal, it projected India's growth to rebound to 10 percent. Read more

Jio and Facebook to help India's small businesses

Tuesday, December 15, 2020
Mukesh Ambani, Chairman, Reliance Industries Limited (RIL) has said that the partnership between Jio and Facebook is great for India, Indians and small Indian businesses. Even Facebook CEO Mark Zuckerberg on Tuesday said at the first Facebook Fuel for India 2020 event that its partnership with Jio Platforms will help support millions of small businesses in India." At Facebook, we are in the business of serving small businesses. And nowhere is this more true than in India," the Facebook CEO said. He also said that supporting small businesses has become more important in view of the Covid-19 induced impact on the economy.“With more than 60 million small businesses and millions of people around the country relying on them for jobs - these small businesses form a big part of what our partnership with Jio can serve here. This is especially important because small businesses in India will be a key part of the global economic recovery going forward. And we're focused on making sure we build. Read more

Closing Bell:Sensex up 9.71 points, Nifty at 13567.85

Tuesday, December 15, 2020
At close, the Sensex was up 9.71 points or 0.02% at 46,263.17, and the Nifty was up 9.70 points or 0.07% at 13,567.90 led by buying in financial and information technology (IT) counters. Bajaj Finance was the top Sensex gainer followed by Housing Development Finance Corporation (HDFC), Tech Mahindra, HDFC Bank and Maruti Suzuki. On the flip side, Hindustan Unilever Ltd (HUL), Nestle India, ICICI Bank, Axis Bank, State Bank of India (SBI) and TCS were losers. About 1389 shares have advanced, 1333 shares declined, and 128 shares are unchanged. Nifty PSU Bank and Nifty FMCG indices, down 1.46 per cent and 1.29 per cent respectively, While Nifty Financial Services and Nifty Metal gained 0.77 per cent each

MARKET UPDATE:Sensex fell 300 points at 45,950 levels and Nifty breached the 13,500-mark

Tuesday, December 15, 2020
The Indian benchmark indices extended their early losses and were down nearly 1 percent in today's(15th December 2020) morning deals, dragged primarily by financials and FMCG stocks. The S&P BSE Sensex fell 300 points, or 0.8 percent, at 45,950 levels, this giving up the psychological level of 46,000. The broader Nifty50 also breached the 13,500-mark. Axis Bank (down 2%) was the top Sensex laggard, followed by ONGC, ICICI Bank, and IndusInd Bank (all down 1%). On the other hand, HDFC Bank gained over 1 percent. The trend among Nifty sectoral indices was largely negative, with the Nifty PSU Bank index, down 3 percent, leading the list of losers. In the broader market, the S&P BSE MidCap slipped 0.2 percent while the S&P BSE SmallCap index was flat.

Tata Group show interest in Air India

Monday, December 14, 2020
Tata Sons are likely to submit an expression of interest (EoI) for state-owned carrier Air India, the deadline for which ends on December 14. Singapore Airlines (SIA), with which Tata Sons operates full-service airline Vistara, may not be part of the bid in the initial stages, according to sources. “The opportunity to acquire Air India is too good to let go if the company wants to have scale and size in the business of aviation. In all sectors Tata Sons operates, the focus has been to either be a market leader or No.2. Air India provides that opportunity,” a person aware of the development said. However, Tata Sons management will not like to have a third airline venture and wants to merge Air India and Vistara in the future. Besides Vistara, Tata Sons owns a 51 percent stake in low-cost airline AirAsia India.

India may not procure Pfizer and Germany’s BioNTech mRNA vaccine

Monday, December 14, 2020
Government sources have indicated that India may not procure the mRNA vaccine, which American major Pfizer and Germany’s BioNTech have developed, for the immunization drive. The higher cost of the Pfizer vaccine, already approved by the UK and the US regulators, is among the primary reasons why other options may be preferred by India. At $37 per dose, the Pfizer vaccine is much more expensive compared to $3 per dose for the Covishield, a vaccine developed by Oxford-AstraZeneca and manufactured by the Serum Institute of India, according to the sources. Also Unlike others, Pfizer would require minus 70 degree Celsius temperature for storage. Even the Russian vaccine Sputnik V is cheaper than Pfizer at $10 per dose. Indigenous vaccines from Bharat Biotech and Zydus Cadila are expected to be in the range of $3-6 per dose. The cost of cold-chain infrastructure to maintain the stringent temperature requirement for the Pfizer vaccine would add to the overall expenditure.

Burger King shares debut at 131% premium to issue price

Monday, December 14, 2020
Shares of Burger King India (BKIL) the Indian subsidiary of the US-based made a strong debut on Monday gaining 131 per cent premium of Rs. 138 against its issue price of Rs 60 on the BSE. Burger King’s initial public offering was massively oversubscribed by investors across categories earlier this month. Overall, the issue was subscribed 156 times, making it the second most subscribed IPO of 2020. Quick service restaurant (QSR) offers good long-term opportunity, suggested by the management’s growth plan and the FY21 performance so far. The company intends to utilise the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes. The QSR chain owned by QSR Asia continued to report losses in previous financial years but there has been strong growth in revenue and stable gross margin performance. Analysts say investors can book profits of half of the investment amount in short term and hold the rest for the long term.

Closing Bell: Sensex gains 154 points, Nifty at 13558.15

Monday, December 14, 2020
At close, Sensex was up 154.45 points or 0.34% at 46,253.46, and the Nifty was up 44.30 points or 0.33% at 13,558.20 led by buying in PSU Bank and metal stocks. . ONGC was the top Sensex gainer followed by L&T, NTPC, ICICI Bank, Sun Pharma, HCL Tech, Titan Company and State Bank of India (SBI). On the flip side, M&M, Bajaj-Auto, Tech Mahindra, HDFC Bank, Reliance Industries Ltd (RIL), Bharti Airtel were the BSE Sensex losers. About 1769 shares have advanced, 1009 shares declined, and 131 shares are unchanged. Except for Nifty Realty and Nifty Auto indices, all the sectoral indices ended in the green led by Nifty Media and Nifty Metal indices. Burger King gained 130 per cent to Rs 138.40 on the BSE against the issue price of Rs 60.BES Midcap and Smallcap indices rose 0.8 per cent each.

MARKET UPDATE:Sensex gained 200 points and rose to 46,300 levels and Niftywas testing the 13,600-mark

Monday, December 14, 2020
The equity markets in India logged their fresh lifetime highs and were trading half a percent higher on Monday, on the back of strong global cues. Among headline indices, the S&P BSE Sensex gained 200 points and rose as high as 46,300 levels. The broader Nifty50 index, meanwhile, was testing the 13,600-mark. ONGC (up 2%), Larsen & Toubro, NTPC, Tata Steel, and PowerGrid (all up 2%) were the top Sensex gainers. Shares of pharma major Cipla jumped over 4 percent after the company announced the settlement of its patent litigation with Celgene Corporation, a wholly-owned subsidiary of Bristol Myers Squibb, relating to patents for Revlimid (lenalidomide) All the Nifty sectoral indices, except the Nifty Realty index, were trading in the green, led by the Nifty PSU Bank index, up 1.7 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.5 per cent and 0.7 per cent higher, respectively. Read more

United Spirits CEO Kripalu quits, Hina Nagarajan is the next CEO

Friday, December 11, 2020
India's largest liquor brand United Spirits Ltd (USL) on December 10 appointed new Managing Director and Chief Executive Officer named Hina Nagarajan effective from July 1st 2021. Anand Kripalu who was CEO and MD for seven years since 2014 will step down on June 30.Nagarajan, an Indian Institute of Management, Ahmedabad graduate is the first woman to lead USL and also the first woman leading a liquor company of such a large scale in the country. Nagarajan who joined Diageo in summer 2018, is currently the managing director of the Africa Regional Markets (ARM) at Diageo and will join USL as the CEO-Designate from April 1 and, will be based in Bengaluru and will work closely with Kripalu to ensure a smooth transition, the company said. She will report to John Kennedy, the president of Diageo Europe and India. Read more

Closing Bell:Sensex gains 139 points, Nifty at 13513.85

Friday, December 11, 2020
At close, the Sensex was up 139.13 points or 0.30% at 46,099.01, and the Nifty was up 35.60 points or 0.26% at 13,513.90 on a positive note amid healthy buying in financial, oil and gas, metal, and FMCG stocks. ONGC, State Bank of India (SBI), NTPC, Tata Steel, Reliance Industries Ltd (RIL) and Hindustan Unilever Ltd (HUL were top gainers. On the flip side, Infosys, Nestle India and Maruti Suzuki were among Sensex losers. About 1713 shares have advanced, 1188 shares declined, and 148 shares are unchanged. Energy, Metal and PSU Bank indices rose 1 per cent each. while selling seen in the pharma, IT and auto stocks. BSE Midcap and Smallcap indices ended in the green.

MARKET UPDATE:Sensex gained 300 points at 46,240 levels and Nifty topped the 13,550-mark

Friday, December 11, 2020
The Indian benchmark indices returned to their record-breaking ways after a day's break, logging fresh record highs in today's911th December 2020) morning deals. The S&P BSE Sensex gained 300 points, or 0.6 percent, at 46,240 levels and the Nifty50 index topped the 13,550-mark. ONGC (up 6%) was the top Sensex gainer, followed by NTPC, Tata Steel, and Bajaj Finance (all up 1%). Meanwhile, shares of UPL rose 3 percent after the management clarified that the matter flagged by a whistleblower was an old matter and was reported to the audit committee in 2017. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 1.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indices were up 0.6 percent and 0.9 percent, respectively

US govt, 48 states sue Facebook accusing it of anti-competitive conduct

Thursday, December 10, 2020
The US government and 48 states have filed parallel lawsuits against Facebook, accusing the social media giant of anti-competitive conduct by abusing its market power to create a monopoly and crushing smaller competitors. Soon after the Federal Trade Commission (FTC) and 48 state attorney generals sued the company yesterday(9th December 2020), Facebook's shares dropped significantly at the stock exchanges. The bipartisan coalition led by New York attorney general Letitia James alleged that Facebook has engaged in a systematic strategy to eliminate threats to its monopoly. This includes its 2012 acquisition of up-and-coming rival Instagram, its 2014 acquisition of the mobile messaging app WhatsApp and the imposition of anti-competitive conditions on software developers. Read more

IRCTC tanks 13 per cent as govt to sell 20% stake via OFS

Thursday, December 10, 2020
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) slipped 13 per cent to Rs 1,405 on the BSE on Thursday as the government will sell up to 20 per cent stake in Indian Railway Catering and Tourism Corporation through an offer for sale which opens for subscription today for non-retail investors and will open tomorrow for retail investors. The floor price for the offer shall be Rs 1,367 per share, a 16 per cent discount to Wednesday’s closing price of Rs 1,618 on the BSE. The government would divest 15 per cent equity with a 5 per cent greenshoe option. The promoter proposes to sell up to 24 million equity shares of IRCTC, representing up to 15 per cent stake, with an option to additionally sell 8 million shares, representing 5 per cent of the total issued and paid-up equity share capital”, the company said in a regulatory filing. Read more

Closing Bell:Sensex down 143 points, Nifty at 13478.30

Thursday, December 10, 2020
At close, the Sensex was down 143.62 points or 0.31% at 45959.88, and the Nifty was down 50.80 points or 0.38% at 13478.30 after profit booking. Maruti Suzuki India, Power Grid, and Sun Pharma were the top Sensex gainers. While IRCTC was the top loser followed by UltraTech Cement, Infosys, and Tata Steel. About 1209 shares have advanced, 1642 shares declined, and 158 shares are unchanged. Nifty PSU Bank index, down 2 per cent.Nifty FMCG, up over 1 per cent. The S&P BSE MidCap and SmallCap indices were trading 1 per cent and 0.8 per cent lower, respectively. Except for Nifty Auto, Nifty FMCG, and Nifty Pharma, other indices ended in the red. Volatility was down over 2%

MARKET UPDATE:Sensex dipped 300 points at 45,790 levels and Nifty slipped below the 13,500-mark

Thursday, December 10, 2020
The equity markets in India fell over half a percent in today's(10th December 2020) opening deals, on the back of weak global cues. Among the headline indices, the S&P BSE Sensex dipped 300 points, or 0.7 percent, to 45,790 levels, thereby giving away the 46,000-mark it had conquered in the previous session. The broader Nifty50 index also slipped below the 13,500-mark. Ultratech Cement (down 2%) was the top Sensex loser, followed by Tata Steel, Infosys, and Tech Mahindra (all down 1%). Shares of Indian Railway Catering and Tourism Corporation (IRCTC) fell as much as 15 percent after the company said the government will sell up to 20 percent stake in the company through an offer for sale on Thursday and Friday to raise Rs 4,374 crores. The trend among Nifty sectoral indices was mixed, with the Nifty PSU Bank index, down 2 percent, leading the list of losers. Read more

Covid-19 vaccine in India : Status of emergency use authorisation (EUA)

Wednesday, December 9, 2020
Bharat Biotech International (BBIL) had changed the dosage from 3 micrograms of antigen to 6 micrograms during its Covid-19 vaccine trial, a point that the subject expert committee (SEC) would closely examine when it meets on 9th December 2020 to review its application for an emergency use authorisation (EUA) for Covaxin. The panel would also review the applications of Pfizer-BioNTech and Serum Institute of India (SII) seeking a EUA for their vaccines. While many have raised questions over BBIL applying for a EUA during an ongoing efficacy trial, the Indian Council of Medical Research (ICMR), the country’s apex health research institute, has defended the move. Read more

GOI may recommend a looser inflation target for RBI

Wednesday, December 9, 2020
GOI is considering recommending a looser inflation target for RBI, allowing it to focus more on economic growth despite price pressures, according to some sources. A consumer-price inflation band tracked by the Reserve Bank of India may be relaxed further from the current 2%-6% range. The government still needs to hold consultations with the central bank before finalizing a new framework sometime next year. The current mandate, set in 2016, requires the RBI to keep headline inflation at the 4% midpoint of its target range. The Finance Ministry is of the view that the RBI can’t be saddled with a rigid inflation targeting framework, especially in situations when growth needs to be pushed, as per the sources. Read more

MARKET UPDATE:Sensex up 280 points at 45,880 levels and Nifty topped the 13,450-mark

Wednesday, December 9, 2020
The markets in India up half a percent, logged their fresh record high today(9th December 2020) on the back of firm global cues. Among headline indices, the S&P BSE Sensex gained 280 points, or 0.6 percent, at 45,880 levels and the Nifty50 index topped the 13,450-mark. ITC and IndusInd Bank (both up 1%) were the top Sensex gainers. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 1.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indices were both up 0.5 percent.

Reliance Jio to launch 5G services in India in 2021

Tuesday, December 8, 2020
Shares of Reliance Industries advanced nearly 3 per cent to Rs 2,014 on the BSE in the intra-day deals on Tuesday after the chairman Mukesh Ambani said during his keynote presentation at India Mobile Congress 2020 that the company plans to launch 5G services in the second half of 2021. Jio’s 5G service will be powered by indigenous-developed network, hardware and technology components, Ambani added. At the same time, Ambani urged the government to take policy steps “to accelerate the early rollout of 5G, and to make it affordable and available everywhere.” Ambani, at RIL’s 43rd annual general meeting in July, had said, “Jio has developed a complete 5G solution from scratch. This will enable us to launch a world-class 5G service in India using a 100% homegrown technology and solution".Jio has been working with companies like Samsung and Qualcomm to bring 5G to India. Read more

India will not worry about missing its budget deficit target:FM Nirmala Sitharaman

Tuesday, December 8, 2020
Govt will not worry about missing its budget deficit target as it seeks to step up spending to support the economy, Finance Minister Nirmala Sitharaman said. The government will ensure that state-owned enterprises continue with capital expenditure, she said in an interview with Bloomberg TV. “For the present, I’m not going to allow the fiscal deficit number to worry me because there is a need, and a clear need, for me to spend the money,” Sitharaman said. India last month expanded stimulus measures to 15% of the economy to rescue companies and save jobs in an economy clobbered by a sudden lockdown in March to stem the coronavirus pandemic. That could widen the budget gap to 8% of the gross domestic product in the year to March, more the double the budgeted 3.5%.

Fitch revises India's FY21 GDP contraction forecast

Tuesday, December 8, 2020
Fitch Ratings today(8th December 2020) raised India's GDP forecast to -9.4 percent in the current fiscal year to March 2021 from a previously projected contraction of 10.5 percent after the economy staged a sharper rebound in the second quarter. In its Global Economic Outlook, Fitch said the coronavirus recession has inflicted severe economic scarring and the country needs to repair balance sheets and increase caution about long-term planning. "We now expect GDP to contract 9.4 percent in the fiscal year to end-March 2021 (FY21) (+1.1 percentage point), followed by +11 percent growth (unchanged) and +6.3 percent growth (+0.3pp) in the following years," the rating agency said. The projections compare to a GDP growth of 4.2 percent in 2019-20 (April 2019 to March 2020) fiscal and 6.7 percent annual expansion between 2015 and 2019. Read more

Closing Bell: Sensex gains 181 points, Nifty at 13392.95

Tuesday, December 8, 2020
At close, the Sensex was up 181.54 points or 0.40% at 45,608.51 for the fourth day and the Nifty was up 37.20 points or 0.28% at 13,393 lifted primarily by Reliance Industries and public sector banks. Top gainers on Sensex were UltraTech Cement, Bharti Airtel, and Larsen & Toubro. While losers include Sun Pharma, Axis Bank, and Tech Mahindra. About 1344 shares have advanced, 1374 shares declined, and 130 shares are unchanged. Nifty metal and pharma indices gained 1 per cent each, while PSU Bank index added over 7 per cent. BSE Midcap and Smallcap indices ended with marginal losses.

MARKET UPDATE:Sensex rose 100 points to 45,530 levels and Nifty hit the 13,400-mark

Tuesday, December 8, 2020
The markets in India scaled new lifetime highs for the fourth consecutive session despite trading with meagre gains, on the back of mixed global cues, in today's(8th December 2020) morning deals. Among headline indices, the S&P BSE Sensex rose 100 points to 45,530 levels and the broader Nifty50 index hit the 13,400-mark. Ultratech Cement, Bharti Airtel, Maruti Suzuki, and HCL Tech (all up 1%) were the top Sensex gainers. Jet Airways was locked in a 5 percent upper circuit after the consortium of UAE-based businessman Murari Lal Jalan and London's Kalrock Capital said it expects to start operating the airline by the summer of 2021. Canara Bank also gained 5 percent after launching its Rs 2,000 crore QIP. The trend among Nifty sectoral indices was mixed, with the Nifty Auto index, up 0.9 percent, leading the list of gainers.

Hindalco invests Rs 730 cr with new Silvassa plant

Monday, December 7, 2020
Aditya Birla group firm Hindalco Industries Limited on Monday announced that it plans to invest Rs 730 crore to set up a 34,000-tonne extrusion plant at Silvassa in Dadra and Nagar Haveli union territory. In a regulatory filing, Hindalco said the new plant will service the fast-growing market for extruded aluminium products in the western and southern regions. Hindalco said the aluminium extrusion market in India is expected to grow exponentially – from the current level of around 373,000 tonnes to reach about 850,000 tonnes by 2030. The Silvassa project is a step towards Hindalco’s downstream strategy as the company revives its long-term downstream investment plan and also to build a larger value-added product portfolio over the next few years, it said. "Over the next few years, as part of our downstream strategy, we intend to enhance our capacity from over 300,000 tonnes currently, to more than 600,000 tonnes with investments of around ₹7,000 crores," Pai said. Read more

Closing Bell:Sensex gains 347 points, Nifty at 13355.75

Monday, December 7, 2020
At close, BSE Sensex was up 347.42 points or 0.77% at 45426.97, and the Nifty was up 97.30 points or 0.73% at 13355.80 supported by the financials, pharma and FMCG stocks ONGC, Bharti Airtel, and ICICI Bank were among the top Sensex gainers while HDFC Bank, Kotak Mahindra Bank, and Titan Company were among the worst performers. About 1972 shares have advanced, 936 shares declined, and 190 shares are unchanged.PSU Bank index gained 2 per cent, while pharma, infra and FMCG indices gained 1 per cent each. BSE MidCap and SmallCap indexes were trading 0.8 per cent and 1.3 per cent higher, respectively.

MARKET UPDATE:Sensex gained 150 points at 45,216 levels and Nifty surpassed the 13,300-mark

Monday, December 7, 2020
The markets in India scaled their fresh lifetime highs despite trading with meagre gains in today's( 8th December 2020) early deals, on the back of a mixed set of global cues. The S&P BSE Sensex gained 150 points, or 0.3 percent, at 45,216 levels and the Nifty50 index surpassed the 13,300-mark. ONGC (up 3%) was the top Sensex gainer, followed by Axis Bank, ICICI Bank, and Bharti Airtel was up 1 per cent, each. IRCTC, meanwhile, rose as high as 7 percent while Adani Ports hit a fresh lifetime high. The Nifty sectoral indices were trading largely in the green, led by Nifty PSU Bank index, up 0.8 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 0.3 per cent and 0.8 percent higher, respectively

Chris Wood hikes exposure to Indian equities

Friday, December 4, 2020
The sharp up move from the March 2020 low in the absence of a meaningful recovery in corporate earnings has made Christopher Wood, global head of equity strategy at Jefferies sound caution against the expensive valuation of the Indian equity market. Yet, he has increased exposure to Indian equities in his Asia Pacific ex-Japan relative-return portfolio by one percentage point. Wood had recently hiked allocation to Indian equities in October 2020. “The Indian stock market is not cheap with the market trading at 21.6x 12-month forward consensus earnings. But the positive point is that the multiple should have a tendency to decline going forward. Jefferies expects over 30 percent earnings growth for the fiscal year 2022 (FY22) and 13.2 percent real GDP growth,” Wood wrote in his latest weekly note to investors, GREED & fear.

RBI kept key interest rates steady

Friday, December 4, 2020
RBI kept key interest rates steady as widely expected today(4th December 2020) amid persistently high inflation but said it will ensure ample liquidity is provided to stressed sectors to keep a nascent economic recovery on track. Its monetary policy committee decided to retain an accommodative policy stance at least for the current financial year and into the next year to revive growth on a durable basis while ensuring that inflation remains within the target, Governor Shaktikanta Das said in an online briefing. Das said the economy was rebounding faster than expected from a coronavirus-induced slump earlier in the year but warned signs of recovery were far from being broad-based. Covid-19 infections are also continuing to climb. Das said MPC members voted unanimously to hold rates and retain the stance. The key lending rate of the RBI or the repo rate was left unchanged at 4 percent while the reverse repo rate or the key borrowing rate stayed at 3.35 percent.

COVID-19 vaccination to be ready as soon as scientists give nod

Friday, December 4, 2020
Prime Minister Narendra Modi on Friday while virtually addressing an all-party meeting on COVID-19 situation, said Coronavirus vaccines are expected to be ready in the next few weeks and the government will start vaccinating Indians as soon as the scientists give a nod and declared that healthcare workers involved in treating coronavirus patients, frontline workers and old people suffering from serious conditions would be inoculated on priority. Modi added that the Indian scientists are confident with the work in vaccine development against the novel Coronavirus. Nearly eight vaccines are at different stages of trial like Bharat Biotech-ICMR, Oxford-AstraZeneca, Zydus Cadila, Biological E and Dr Reddy’s with their manufacturing assured in India, Modi said. Three vaccines from India are also at different stages of the trial, he said. Modi also asserted that vaccines will also be the cheapest, hence, other countries are closely monitoring it. Read more

Closing Bell:Sensex gains 446.90 points, Nifty at 13258.55

Friday, December 4, 2020
At close, the Sensex was up 446.90 points or 1% at 45,079.55, and the Nifty was up 124.60 points or 0.95% at 13,258.50 and Sensex hitting 45,000 for the first time ever after the Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 4 per cent. Top gainers were Bharti Airtel, UltraTech Cement, Laren & Toubro, M&M and Hindustan Unilever. ONGC, Bajaj Finserv, and Reliance Industries were top losers in the Sensex pack. About 1483 shares have advanced, 1178 shares declined, and 138 shares are unchanged. Nifty Pharma, Metal, Infra, and Nifty FMCG indexes, gained1 per cent, each. Nifty Bank index rose 2 per cent. Except for Energy, all other sectoral indices ended in the green.BSE Midcap and Smallcap indices added 0.4 per cent each.

MARKET UPDATE:Sensex up 200 points at 44,860 levels and Nifty testing the 13,200-mark

Friday, December 4, 2020
The equity markets in India were trading half a percent higher in today's(4th December 2020) early morning deals ahead of the announcement of the decision of RBI's monetary policy committee. Among headline indices, the S&P BSE Sensex gained 200 points, or 0.5 percent, at 44,860 levels and the Nifty50 index was testing the 13,200-mark. Ultratech Cement (up 4%) was the top Sensex gainer, followed by Bharti Airtel, Mahindra & Mahindra, and Larsen & Toubro (all up 1%).

The overdue farm reforms are not something to fear

Thursday, December 3, 2020
While the economy has been partly liberalised since opening up to the world in 1991, the process has largely bypassed the three-fifths of Indians who depend for their livelihoods, directly or indirectly, on farming. In September, the government finally introduced a much-needed set of changes to how agriculture is organised and how produce is sold in India. Now tens of thousands of agitating farmers have marched upon New Delhi in protest. The protests may have less to do with the recent reforms, which allow farmers to enter into direct contracts with purchasers and which eliminate the monopoly government warehouses previously held on the wholesale trade, than those that may becoming. The answer isn’t for the government to reverse course — it’s to go further. Read more

Get investors' consent for winding up schemes:SC to Franklin Templeton

Thursday, December 3, 2020
The Supreme Court today(3rd December 2020) asked Franklin Templeton Mutual Fund to initiate steps within one week for calling a meeting of unitholders to seek their consent for the closure of six mutual fund schemes and said there will be no redemption of units by investors till further orders. The top court also agreed to hear an appeal filed by Franklin Templeton against the Karnataka High Court order which stopped the fund house from winding up its debt fund schemes without the prior consent of the investors. A bench of Justices S Abdul Nazeer and Sanjiv Khanna observed that the issue is big and people wanted a refund. It said that without prejudice to the rights of any party, trustees are allowed to call a meeting of unitholders to seek their consent for approval, and in this regard, steps are taken within a period of one week. Read more

RBI tells HDFC Bank to stop digital launches

Thursday, December 3, 2020
Shares of HDFC Bank was down 2.5 per cent after the Reserve Bank of India (RBI) has advised the bank to halt all its digital launches as well new sourcing of credit card customers temporarily. The RBI issued the order dated December 2, 2020, to HDFC Bank with regard to certain incidents of outages in the internet banking, mobile banking and payment utilities of the bank over past two years including the recent outages in the bank’s internet banking and payment system on November 21, 2020, due to a power failure in the primary data centre. The order also states that HDFC Bank’s board must examine the lapses and fix accountability. A similar incident took place on December 3, 2019, with customers complaining that they were unable to pay their loan EMIs or settle credit card bills on time Read more

Closing Bell:Sensex gains 14.61 points, Nifty at 13133.90

Thursday, December 3, 2020
At close, the Sensex was up 14.61 points or 0.03% at 44,632.65, and the Nifty was up 20.10 points or 0.15% at 13,133.90 amid volatility. Maruti Suzuki India was the top Sensex gainer, followed by State Bank of India, ONGC, and NTPC. Bajaj-Auto, Axis Bank, HDFC Bank, Power Grid Corporation of India, Tata Consultancy Services (TCS) and Infosys were among top Sensex losers. About 1950 shares have advanced, 905 shares declined, and 166 shares are unchanged.PSU Bank index rose nearly 5 per cent, the metal index added 2 per cent and auto and energy indices rose 1 per cent each. BSE Midcap and Smallcap indices jumped 0.6--0.8 per cent. India VIX cooled off around 5 per cent to 18.95 levels.

MARKET UPDATE:Sensex gained 150 points at 44,800 levels and Nifty hovered around 13,160-mark

Thursday, December 3, 2020
The equity markets in India were trading with marginal gains in today's(3rd December 2020) early morning deals after opening at record high levels. Meanwhile, the volatility index, India VIX, cooled off over 7 percent to 18.5 levels. Among individual stocks, the S&P BSE Sensex gained 150 points at 44,800 levels. The index hit an intra-day high of 44,953, also its fresh lifetime high. The Nifty50 index hovered around 13,160-mark. Maruti Suzuki, up 4 percent, was the top Sensex gainer, followed by ONGC, Tata Steel, Larsen & Toubro, and State Bank of India (all up 1 percent). IndiGo, meanwhile, gained 2 percent after the company said it has reached 70 percent of its pre-Covid capacity and is operating 1,000 daily international and domestic flights. All the Nifty sectoral indices were trading in the green, led by the Nifty Metal index, up 1 percent.

Ant considers Paytm stake sale Amid tensions between the two Asian neighbours

Wednesday, December 2, 2020
Amid tensions between the two Asian neighbours and a toughening competitive landscape, Chinese fintech giant Ant Group is considering selling its 30 percent stake in Indian digital payment processor Paytm according to some sources. Financial details of the possible transaction have not been firmed up and Ant, the Alibaba-backed payments-to-consumer credit behemoth, has not launched a formal sale process yet. Paytm, which is also backed by SoftBank Group Corp among others, was valued at about $16 billion during its latest private fundraising round a year ago. At that valuation, Ant’s stake in the Indian firm is worth about $4.8 billion.

UK approves Pfizer-BioNTech COVID-19 vaccine,First COVID-19 vaccine in the world

Wednesday, December 2, 2020
Shares of Pfizer gained 5 per cent to Rs 5384.95 after the U.K.country approved a Covid-19 vaccine, with its regulator clearing Pfizer Inc. and BioNTech SE’s shot ahead of decisions in the U.S. and European Union. The UK became the first country to approve Covid-19 Vaccine and will be available in Britain from next week, according to a government statement. The British regulator, the Medicines and Healthcare products Regulatory Agency (MHRA), says the jab, which claims to offer up to 95 per cent protection against COVID-19 illness, is safe for rollout. The UK is expected to receive a total of 40 million doses by the end of 2021, enough to vaccinate up to a third of the population, with the majority of doses anticipated in the first half of next year. The vaccine will be manufactured in BioNTech’s German sites, as well as Pfizer’s manufacturing site in Belgium. Read more

Closing Bell:Sensex down 37 points, Nifty at 13113.75

Wednesday, December 2, 2020
At close, Sensex down 37 points or 0.08 per cent lower and closed at 44618.04, and Nifty up 4.7 points, or 0.04 per cent and ended flat at 13113.75 amid high volatility. ONGC was top gainer followed by Asian Paints, Titan Company, Tata Steel, Bajaj-Auto, M&M and Maruti Suzuki. HDFC Bank, Kotak Mahindra Bank, Housing Development Finance Corporation (HDFC), ICICI Bank and Bajaj Finance contributed the most to the indices’ loss today. About 1573 shares have advanced, 1124 shares declined, and 134 shares are unchanged. The metal index added 2 per cent and auto index gained 1 per cent. While Nifty Bank index fell 1.19 per cent.

MARKET UPDATE:Sensex 100-odd points down at 44,560 levels and Nifty slipped below the 13,100-mark

Wednesday, December 2, 2020
The Indian markets were trading marginally lower in today's(2nd December 2020) early deals, on the back of mixed global cues. The S&P BSE Sensex was trading 100-odd points down at 44,560 levels and the Nifty50 index slipped below the 13,100-mark. Maruti Suzuki, Asian Paints, Titan, and Bajaj Auto (all up 1%) were the top Sensex gainers. Tata Motors rose over 3 percent after the company's November sales also grew to 49,650 vehicles from 41,124 units in the year-ago period. The trend among Nifty sectoral indices was mixed, with Nifty Pharma and Nifty Auto indexes, both up 1 percent, leading the list of gainers. The broader indices outperformed the benchmarks, with the S&P BSE MidCap and SmallCap indices trading 0,3 percent and 0.5 percent higher, respectively.

GST collections up Rs 1 trn for second month straight

Tuesday, December 1, 2020
GST collections surpassed Rs one trillion for the second month straight in November. The mop-up was Rs 192 crore less at Rs 1.049 trillion in November compared to Rs 1.051 trillion in October. This is the straight third month when the collections rose year-on-year. November collections were 1.42 percent higher than the same month of the previous year. That way, the yearly growth came down from 10.25 percent in October and 3.87 percent in September. Collections are mostly for transactions done in October, representing the impact of the festival season.

Indian manufacturing sector on the right path to recovery

Tuesday, December 1, 2020
"The Indian manufacturing sector remained on the right path to recovery, with strong growth of new orders and output sustained during November," Pollyanna De Lima, Economics Associate Director at IHS Markit, said. While all three broad areas of the manufacturing industry recorded expansion, the consumer goods segment led the growth, the only sector to see a stronger rate of increase, the report said. It is believed that the loosening of Covid-19 restrictions, combined with an improvement in market conditions and a pick-up in demand, supported another increase in production, it said. According to the PMI report based on a survey of 500 private sector companies, new export orders expanded at the quickest rate in one year. Read more

ICICI Lombard gains 3 per cent after IRDAI approves acquisition of Bharti AXA General

Tuesday, December 1, 2020
Shares of ICICI Lombard General Insurance company gained 3 per cent of Rs. 1499.90 and hit a 52-week high after the Insurance Regulatory and Development Authority of India (IRDAI), on Friday approved, in principle, under Section 35 to 37 of the Insurance Act, 1938 the acquisition of the non-life insurance business of Bharti AXA General Insurance Company by ICICI Lombard General Insurance. The deal will create India's third-largest non-life insurance company, with a combined annual premium of ₹ 16,447 crore and a market share of nearly 8.7 per cent. The board of ICICI Lombard had approved the scheme of arrangement at its meeting held on August 21, 2020. Currently, Bharti Enterprises owns 51 per cent in Bharti AXA General. The firm has a joint venture with French firm AXA which owns 49 per cent stake. With the deal with ICICI Lombard in place, Bharti and AXA will be public shareholders in the combined entity. Read more

Closing Bell:Sensex gains 505 points, Nifty at 13109.05

Tuesday, December 1, 2020
At close, the Sensex was up 505.72 points or 1.15% at 44,655.44, and the Nifty was up 140 points or 1.08% at 13,109 boosted by the better than expected GDP data. Sun Pharma was the top Sensex gainer followed by IndusInd Bank, Tech Mahindra, ONGC, Bharti Airtel, Infosys, ICICI Bank and TCS. On the flip side, Kotak Mahindra Bank, Nestle India, Titan Company, Bajaj Finance, HUL and NTPC were among the top losers. About 1869 shares have advanced, 974 shares declined, and 169 shares are unchanged. Except for Nifty FMCG index, all the sectoral indices ended in the positive territory, led by Nifty PSU Bank, and Nifty IT index gaining 3 per cent.BSE MidCap index gained 0.94 per cent while the BSE SmallCap index gained 0.82 per cent. About 1869 shares have advanced, 974 shares declined, and 169 shares are unchanged. India VIX slipped 0.23 per cent to 19.7 levels.

MARKET UPDATE:Sensex up 200 points at 44,350 level and Nifty hovered above the 13,000-mark

Tuesday, December 1, 2020
The Indian benchmark indices were trading nearly half a percent higher today(1st December 2020), amid mixed global cues. Among headline indices, the S&P BSE Sensex was up 200 points at the 44,350 level and the Nifty50 index hovered above the 13,000-mark. Ultratech Cement (up 3%) was the top Sensex gainer, followed by Infosys, Sun Pharma Powergrid, and Bajaj Auto (all up 1%). The trend among Nifty sectoral indices was mixed, with the Nifty Pharma index, up 1 percent, leading the list of gainers. In the broader market, the S&P BSE MidCap and SmallCap indices were trading half a percent higher, each.

Burger King enters IPO to open on December 2

Friday, November 27, 2020
A quick-service restaurant chain Burger King India enters into the initial public offering (IPO) which will open on December 2, for three days. The US-based fast-food major’s India unit has set the price band for the IPO at Rs 59-60 per share in a lot size of 250 shares and multiples thereafter. Burger King aims to raise Rs 810 crore through the issue which comprises a fresh issue of shares worth Rs 450 crore, and an offer for sale of up to 60 million shares by promoter entity QSR Asia Pte Ltd worth Rs 360 crore, at the upper end of the price band. The company would utilise fresh issue proceeds for funding roll-out of new company-owned Burger King Restaurants and general corporate purposes. The company had undertaken a pre-IPO placement, by way of the rights issue, of Rs 58.08 crore at a price of Rs 44 per share to a promoter and preferential allotment of Rs 91.92 crore at a price of Rs 58.50 per share. Read more

Some counters which have underperformed the market amid this rally

Friday, November 27, 2020
The stock market has witnessed a stellar rebound as the benchmark indices have zoomed over 70 percent from their respective March lows. Today (27th November 2020)At 01:44 PM, the S&P BSE Sensex was trading at 44,251 levels while NSE's Nifty was just shy of the crucial level of 13,000. However, amid this market rally, there have been few counters which have underperformed the market. Here are some of the underperformers and what can be the trading strategy. Canara Bank (CANBK): For the first time after July 2019, this counter crossed the 200-day moving average (DMA) on Friday. The overall trend looks promising as the Moving Average Convergence Divergence (MACD) is holding ground above the zero lines. Read more

Closing Bell:Sensex down 110 points, Nifty at 12968.95

Friday, November 27, 2020
At close, the Sensex was down 110.02 points or 0.25% at 44,149.72, and the Nifty was down 18 points or 0.14% at 12,969 ahead of the release of gross domestic product (GDP) numbers for the second quarter of the current fiscal. Top Sensex gainers were Asian Paints, Bajaj Auto, Tech Mahindra, and IndusInd Bank. While losers include Nestle India, Power Grid, ONGC, and HCL Tech. About 1717 shares have advanced, 1039 shares declined, and 172 shares are unchanged. Auto and PSU bank indices gained 1 per cent each. Selling seen in the infra, IT and energy stocks.BSE Midcaps and Smallcap indices rose 2 per cent each.

MARKET UPDATE:Sensex up 70 points at 44,330 levels and Nifty hovered around the 13,000-mark

Friday, November 27, 2020
The equity markets in India were trading flat with a positive bias in today's( 27th November 2020) early deals, on the back of mixed global cues. The S&P BSE Sensex was up 70 points at 44,330 levels and the Nifty50 index hovered around the 13,000-mark. NTPC (up 2%) was the top Sensex gainer, followed by Asian Paints, Maruti Suzuki, and Nestle India (all up 1%). Nearly all the Nifty sectoral indices were trading in the green, led by the Nifty Auto index, up 1 percent.

Laurus Labs gains 5% as it buys 72.55% stake in Richcore Lifesciences

Thursday, November 26, 2020
Shares of Indian drugmaker Laurus Labs rose 5 per cent to Rs 298.80 on the BSE on Thursday after the company said it has signed definitive agreement to acquire a 72.55 per cent stake in Bengaluru-based Richcore Lifesciences from Eight Roads Ventures and VenturEast Pvt Ltd for ₹247 crores. Richcore, a biotech company based in Bengaluru, with advanced R&D and manufacturing facilities, develops products critical for biological drugs. Richcore also helps its global customers develop and scale-up their bioprocesses by providing contract research, development, and manufacturing services.“This acquisition marks Laurus Labs’ entry into the broader biologics and biotechnology segments, providing the company access to its high growth areas, globally and in India," Laurus Labs said. With this acquisition, Laurus adds a fourth revenue stream to its three existing divisions — API, formulations and synthesis. Read more

Crude price rally to benefit Indian equities

Thursday, November 26, 2020
The Indian equity markets corrected yesterday(25th November 2020) after hitting a lifetime high earlier in the day. The benchmark Nifty50 index ended with losses of around 200 points, the biggest one-day fall in nearly a month. This sharp reversal was attributed to a rally in crude oil prices. On Wednesday, Brent crude price hit an eight-month high of $48 to a barrel as traders bet on a faster-than-expected recovery in energy demand and a likely production cut by members of the Organization of Petroleum Exporting Countries (Opec) and Russia later this month. Some analysts believe higher crude oil prices could significantly increase India’s energy import bill creating pressure on the current account balance, apart from raising input costs for companies in sectors ranging from metals and mining, chemicals, paints, personal care, cement, petrochemical, plastics, and agro-chemicals. Read more

Closing Bell: Sensex gains 432 points, Nifty at 12987.00

Thursday, November 26, 2020
At close, the Sensex was up 431.64 points or 0.98% at 44,259.74, and the Nifty was up 128.60 points or 1.00% at 12,987. Mahindra & Mahindra, L&T, Bajaj Auto, and Titan were among major gainers on the Sensex pack. IndusInd Bank, SBI, TCS were the top drags. About 1726 shares have advanced, 986 shares declined, and 179 shares are unchanged. The metal index gained nearly 4 per cent and Nifty Bank and Pharma indices gained 1 per cent each.VIX dropped nearly 13.5 per cent to 20 levels.

MARKET UPDATE:Sensex hovered around 43,840 levels and Nifty held the 12,850 mark

Thursday, November 26, 2020
The markets in India were trading flat with a positive bias, on the back of mixed global cues, in today's(26th November 2020) early deals ahead of the expiry of November series derivative contracts. The S&P BSE Sensex hovered around 43,840 levels and the Nifty50 index held the 12,850. Larsen & Toubro, Bajaj Auto, Mahindra & Mahindra, and Titan (all up 1%) were the top Sensex gainers, Siemens, meanwhile, rose 6 percent after announcing its September quarter results. The trend among Nifty sectoral indices was mixed, with the Nifty Pharma index, up 0.9 percent, leading the list of gainers.

Dalal St Selloff: Investors lost Rs 2 lakh crore

Wednesday, November 25, 2020
Benchmark indices took a beating after hitting record highs earlier today, led by across the board selling. Indices fell ahead of the monthly settlement of futures and options contracts on Thursday. By the close, Indian investors had lost nearly Rs 2.26 lakh crore in wealth, with shares of the three most valuable companies seeing m-cap erosion of Rs 39,581 crore. IT and banking stocks were hit badly. 211 stocks hit their lower circuit limits. Select midcaps fell up to 7 percent. Read more

Economic activity up on pent-up demand: Icra

Wednesday, November 25, 2020
The acceleration in economic activity in October is the result of pent-up demand and may not sustain going ahead, domestic rating agency Icra said yesterday(24th Nov.2020). Multiple fast-paced indicators, including GST collections, have been showing a sharp recovery since October, which has also led many analysts to revise their overall GDP forecasts for the fiscal. "We caution that the spikes in production seen in the various sectors in October 2020 are an exaggeration of the true recovery on the ground, as they have been driven by a large component of pent-up demand that may not sustain after the festive period is over," the agency's report. Read more

MARKET UPDATE:Sensex hit a fresh lifetime high of 44,825 while Nifty surpassed the 13,100-mark

Wednesday, November 25, 2020
The Indian markets extended their record-breaking run today(25th November 2020) on the back of favourable global cues. Among headline indices, the S&P BSE Sensex rose 250 points to hit a fresh lifetime high of 44,825 while the Nifty50 index surpassed the 13,100-mark. ONGC (up 5%) was the top Sensex gainer, followed by State Bank of India, ICICI Bank, Tata Steel, and Axis Bank (all up 1%). Meanwhile, HDFC Bank joined the elite club of Rs 8-trillion market capitalization (market-cap) on the BSE, after its share price hit a new high of Rs 1,464 after rising nearly 2 percent today. The majority of the Nifty sectoral indices were trading in the green, led by the Nifty Bank index, which rose 1.2 percent to an over a 9-month high while surpassing the level of 30,000. In the broader market, the S&P BSE MidCap and SmallCap indices were trading 0.12 percent and 0.3 percent higher, respectively.

Winning bidder for BPCL can bank on its revenue to recover the cost of acquisition

Tuesday, November 24, 2020
The crunch in tax revenues as a result of the pandemic has made privatisation an imperative rather than just a strategy for the Narendra Modi government. At the forefront of this move are Bharat Petroleum Corporation Ltd (BPCL) and Air India. Unlike the latter, the oil refining and marketing major is a revenue churner for the government rather than a drain on its finances. Nonetheless, the Union finance ministry’s silence around the submission of expressions of interest (EoIs) for BPCL casts doubts on whether the interested parties are good enough for handing over a public jewel. Read more

Nifty at 13,000-mark and Sensex at record peak: Is it time to book profits?

Tuesday, November 24, 2020
The rally of Indian equities reached a new high today(24th November 2020) when the Nifty50 index surpassed the 13,000-mark for the first time ever. The S&P BSE Sensex, meanwhile, kissed the 44,500-mark in intra-day deals. A cocktail of better-than-expected earnings, improved Goods and Services Tax (GST) collection, better macro-data, and progress in Covid-19 vaccine development have pushed the markets to their peaks, analysts say. That said, while the markets look poised for a sustained uptrend, investors may consider profit-booking gradually, according to some analysts. Four virus-vaccines – one each by Pfizer and BioNTech; AstraZeneca and Oxford; Sputnik V; and Moderna Inc – have shown over 90 percent efficacy. The development, analysts say, will trigger rallies in the beaten-down and cyclical stocks, while starting the cycle of economic recovery. Read more

Closing Bell:Sensex gains 446 points, Nifty at 13055.15

Tuesday, November 24, 2020
At close, the Sensex was up 445.87 points or 1.01% at 44,523.02, and the Nifty up 128.70 points or 1.00% at 13,055.20 amid across-the-board buying. HDFC Bank, ICICI Bank, Reliance Industries Ltd, Axis Bank and ITC contributed to the Sensex gains. On the flip side, Housing Development Finance Corporation (HDFC), Titan Company, Nestle India, Bharti Airtel, ONGC and Bajaj Finance were among index drags. About 1603 shares have advanced, 1167 shares declined, and 175 shares are unchanged. Nifty Bank index, up 2.46 per cent.while auto, metal and pharma indices rose 1 per cent each. India VIX gained over a per cent to 21.05 levels. The BSE MidCap index ended 0.58 per cent higher while the BSE SmallCap index gained 0.89 per cent.

MARKET UPDATE:Sensex gained 300 points at 44,380 levels and Nifty hit 13,000 mark for the first time ever

Tuesday, November 24, 2020
The Indian benchmark indices logged their respective fresh lifetime highs today(24th November 2020), on the back of favourable global cues. The S&P BSE Sensex gained 300 points at 44,380 levels and the broader Nifty50 index hit the psychological level of 13,000 for the first time ever. Maruti Suzuki gained 2 percent and was the top Sensex gainer. Besides, HDFC Bank, Axis Bank, Larsen & Toubro, ICICI Bank, and Mahindra & Mahindra also gained 1 percent, each. All the Nifty sectoral indices were trading in the green, led by the Nifty Bank index, up 1.3 percent.

Motherson Sumi share price up 5 per cent after company restructured its five year plan

Monday, November 23, 2020
Shares of Motherson Sumi Systems (MSSL) gained 5 per cent to Rs 146.30 on the BSE in the intra-day trade on Monday and is near to 52 weeks high after the company outlined its next five-year plan, Vision 2025, with ambitious revenue and returns targets. At the analyst meeting, Vision 2025 was emphasized with a target of $36bn revenue in 2024-25 with 40 per cent ROCE, and additional focus on diversifying into new industries, with 75 per cent of revenues from the automotive industry and 25 per cent from new divisions. Other ambitions outlined included expanding into new divisions like medical, aerospace, logistics and IT and also 40 per cent consolidated dividend payout ratio. The analysts had given a different opinion about Motherson Sumi Systems. Motilal Oswal Financial Services has recommended buying the stock as restructuring will help the company shape up for the next phase of growth. Read more

Closing Bell:Sensex gains 195 points, Nifty at 12926.45

Monday, November 23, 2020
At close, the Sensex was up 194.90 points or 0.44% at 44,077.15, and the Nifty was up 67.50 points or 0.52% at 12,926.50 mainly led by buying in IT stocks and Reliance Industries Ltd. ONGC shares were the top Sensex gainer, followed by IndusInd Bank, Infosys, Tech Mahindra, RIL, Tata Consultancy Services and HCL Tech. On the flip side, Housing Development Finance Corporation (HDFC), ICICI Bank, Axis Bank, Titan Company, SBI and Bharti Airtel ended in the negative note. About 1636 shares have advanced, 1133 shares declined, and 178 shares are unchanged. India VIX gained over 6 per cent to 20.8 levels. Nifty IT index and energy gained 2.8 per cent, while Nifty Financial Services index settled 1.07 per cent down. Except for banks, other indices ended in the green.BSE Midcap and Smallcap indices rose 1 per cent each.

MARKET UPDATE:Sensex hovered around 43,880 levels and Nifty gave up 12,950 level

Monday, November 23, 2020
The equity markets in India pared all gains and were trading flat in today's(23rd November 2020) early deals, dragged largely by financials. Among headline indices, the S&P BSE Sensex hovered around 43,880 levels. The index had risen as high as 44,271, earlier in the day. The Nifty50 index also gave up 12,950. Reliance Industries gained over 3 percent in early deals after the Competition Commission of India cleared RIL's bid to buy Future group's retail, wholesale, and logistics assets amid a legal battle with Amazon. Besides, Bajaj Finserv and IndusInd Bank rose 3 percent each and were among the top Sensex gainers. All the Nifty sectoral indices were trading in the green, led by the Nifty Metal index, up 1 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.7 percent higher, each.

Spicejet shares gains 14 per cent after Boeing 737 MAX gets US FAA nod

Thursday, November 19, 2020
Shares of budget airline SpiceJet gained as much as 13.6 % to hit a high of Rs 75.4 on the BSE on Thursday after the US Federal Aviation Administration gave clearance to fly Boeing 737 Max aircraft after two-years of grounding. The clearance was announced after a "comprehensive and methodical" 20-month review process, the regulator said. The regulators also said the clearance would not allow the plane to "return immediately" to the skies as the existing aircraft will need to be modified before going back into service, with changes to their design and will be ready to return to operations by the first quarter of 2021. With 13 of these aircraft grounded, SpiceJet has been in talks with Boeing for claims. In the second quarter, the airline has recognised Rs 138 crore of these claims as other income."SpiceJet can also receive compensation from Boeing for the 737 Max grounding, which could be in the range of Rs 1,000-1,200 crore," HSBC Global Research had said in a note on Wednesday. Read more

Closing Bell:Sensex down 580 points, Nifty at 12771.70

Thursday, November 19, 2020
At close, the Sensex was down 580.09 points or 1.31% at 43,599.96, and the Nifty was down 166.60 points or 1.29% at 12,771.70. Top gainers were TCS, Bajaj Finserv, Kotak Mahindra Bank, Powergrid, and Reliance Industries. While losers include SBI, ICICI Bank, JSW Steel and Axis Bank. About 1179 shares have advanced, 1384 shares declined, and 156 shares are unchanged. Nifty Bank index down 3 per cent, while Infra and IT indices fell 1 per cent each. Energy and FMCG indices ended in the green.BSE SmallCap index was trading 0.1 per cent lower and BSE MidCap index was down 0.7 per cent

Lakshmi Vilas Bank under Moratorium by RBI

Wednesday, November 18, 2020
Shares of Lakshmi Vilas Bank was locked in 20 per cent lower circuit in the early trade on November 18 after Reserve bank of India has the Bank under a moratorium with effect from November 17 6 pm till December 16, 2020, and capped deposit withdrawals by customers to Rs 25,000. The Reserve Bank of India (RBI) in the draft scheme of amalgamation has said that the shares or debentures of the Lakshmi Vilas Bank, listed in any stock exchange shall stand delisted upon the merger with DBS Bank India “On and from the appointed date, the entire amount of the paid-up share capital and reserves and surplus, including the balances in the share/securities premium account of the transferor bank, shall stand written off,” the draft scheme said. In this merger shareholder of LVB will not get any benefit, After looking at continuous withdrawal of deposits, erosion of net worth, and escalation asset quality issues RBI took the right step to prevent interest of depositor and financials market. Read more

Closing Bell: Sensex gains 227.34 points, Nifty at 12938.25

Wednesday, November 18, 2020
At close, the Sensex was up 227.34 points or 0.52% at 44180.05, and the Nifty was up 64.10 points or 0.50% at 12938.30 for the third straight session on November 18 supported by the auto and financial stocks. M&M, L&T, Bajaj Finserv and IndusInd Bank were the top Sensex-gainers. While losers included BPCL, HUL, Dr Reddy’s Labs, ITC and Titan Company. About 1496 shares have advanced, 1100 shares declined, and 153 shares are unchanged. Nifty Bank index and Nifty PSU Bank index, up nearly 3 per cent each,.BSE MidCap index was up 1 per cent and the BSE SmallCap index was, up 0.8 per cent. Selling seen in the FMCG, IT and pharma names.

Bharat Petroleum Corporation Shares Fall 5% After Govt receives EoI for divestment

Tuesday, November 17, 2020
Shares of Bharat Petroleum Corporation Limited (BPCL) declined 5 per cent to ₹ 392.35 apiece on the BSE in the intra-day trade on Tuesday after the government said it received multiple bids for privatisation of the country's second-largest fuel retailer. In the past one-month oil marketing company BPCL share has surged 27 per cent. The sale is crucial for the government in order to meet its disinvestment target of Rs 2.1 trillion for the current fiscal year. The government has not revealed the number of bidders. The transaction advisors for the sale of government 52.98 per cent stake in Bharat Petroleum which is worth ₹ 47,430 crores have reported receiving "multiple expressions of interest", Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said. Strategic disinvestment of BPCL progresses, Now moves to the second stage after multiple expressions of interest have been received," Finance Minister Nirmala Sitharaman said on Twitter.

Closing Bell:Sensex gains 314.73 points, Nifty at 12874.20

Tuesday, November 17, 2020
At close, the Sensex was up 314.73 points or 0.72% at 43,952.71, and the Nifty was up 93.90 points or 0.73% at 12,874.20 led by buying in financial counters Tata Steel, RIL, Bharti Airtel and HDFC Bank were top Sensex gainers, while HCL Technologies, BPCL, Hero MotoCorp, and ITC were top losers. About 1443 shares have advanced, 1181 shares declined, and 146 shares are unchanged. Nifty Metal and Nifty Bank indices rose over 2 per cent each. BSE midcaps outperform. India VIX was up over 2%. Selling seen in the energy, pharma and IT stocks.

MARKET UPDATE:Sensex hit a new record high of 44,161 level and Nifty hit new high of 12,934

Tuesday, November 17, 2020
Indian equity indices hit scaled fresh lifetime highs today(17th November 2020) as positive news from Moderna Inc, that its Covid-19 vaccine has a 94.5 percent efficacy rate, boosted investor sentiment. Indices surpassed their previous highs touched on November 14 during the special one-hour Muhurat Trading. Among frontline indices, the S&P BSE Sensex hit a new record high of 44,161 levels in the opening deals, surpassing the previous high of 43,830.93 level. It was, however, later trading around 43,938 levels, up 300 points or 0.7 percent. Tata Steel (up 4 percent), State Bank of India and Bharti Airtel (up 2 percent each), and Reliance Industries (up 1 percent) were the top gainers on the 30-share index. The broader Nifty50, meanwhile, hit a new high of 12,934, but later retreated to 12,882 levels, up 100 points. The index surpassed the previous lifetime high of 12,828.7. Read more

Eicher Motors gains 9 per cent, hits 52-week record high

Friday, November 13, 2020
Shares of Eicher Motors Ltd., the owner of Royal Enfield, hit a fresh 52-week high of Rs 2,574 up 9 per cent on the BSE on Friday after the automaker declared its September quarter results..Eicher Motors on November 12 reported a 40 per cent decline in consolidated net profit at Rs 343.34 crore in the second quarter ended September 30. The company had posted a net profit of Rs 572.69 crore in the corresponding quarter last fiscal, Eicher Motors said in a regulatory filing. For the July-September quarter (Q2FY21), Eicher Motors’ total revenue from operations declined 3 per cent year-on-year (YoY) at Rs 2,134 crore as compared to Rs 2,192 crore in the corresponding quarter of the previous fiscal, due to a drop in volumes. The management said production levels are at 70,000 units/month now, while bookings number were encouraging at 1.25 lakh units, including 8,000 units for newly-launched Meteor. Read more

Closing Bell:Sensex gains 86 points, Nifty at 12719.95

Friday, November 13, 2020
At close, the Sensex was up 86 points or 0.20 % at 43443.00, and the Nifty was up 29 points or 0.23% at 12719.95 ahead of Muhurat trading. Bajaj Finserv, Tata Steel, ICICI Bank, Axis Bank, Bajaj Finance and SBI were major gainers in the sensex pack, while losers include L&T, HDFC, HDFC Bank, Bharti Airtel, Tech Mahindra and M&M. The MidCap index rose 0.86 per cent to 15,876 levels while the SmallCap index advanced over 1 per cent to 15,639 points. Nifty FMCG, and Nifty Media settled in the green, rest of the indices ended in the red. India VIX fell over 4% to close below the 20 points mark. Markets will open for one hour on Saturday, November 14 for the auspicious "Muhurat Trading session, which will start at 06:15 pm and end at 07:15 PM

MARKET UPDATE:Sensex fell 210 points to 43,150 levels and Nifty gave up the 12,650 level

Friday, November 13, 2020
The markets in India were trading with half a percent cut amid weak global cues. The S&P BSE Sensex fell 210 points, or 0.5 percent, to 43,150 levels and the broader Nifty50 index gave up the 12,650 level. IndusInd Bank and Larsen & Toubro (both down 2%) were the top Sensex losers. On the other hand, Titan, Asian Paints, and Reliance Industries gained 1 percent, each. Meanwhile, Eicher Motors rose 3 percent after announcing its September quarter results. The trend among Nifty sectoral indices was largely negative, with the Nifty Bank index and Nifty Metal index down over percent, each. Five hundred and four companies including ONGC, Tata Steel, Eveready Industries, and Future Retail are set to declare their results today.

Moody's raises India's 2020 GDP forecast to -8.9 from -9.6%

Thursday, November 12, 2020
Moody's today(12th November 2020) raised India's GDP forecast for the calendar year 2020 upwards to -8.9 percent contraction from -9.6 percent contraction forecast earlier. Similarly, India's GDP forecast for the calendar year 2021 has been revised upwards to 8.6 percent from 8.1 percent projected earlier. The report released by Moody's Investors Service attributed the reason behind better growth to the falling of coronavirus cases in the country. "The test positivity rate has fallen below 5 percent in India and below 10 percent in South Africa. Fatality rates have also steadily declined in most emerging market countries, similar to the trends in advanced economies. If these trends are sustained, greater mobility and social interactions will be likely over time. In addition, the development and dissemination of a vaccine will make the pandemic itself a less important macro factor in 2021 and 2022," the report stated. Read more

Nifty may touch 14,100 by December 2021

Thursday, November 12, 2020
Global brokerage firm Goldman Sachs and Nomura in a report dated November 11, has pegged Nifty50 target at 14,100 by December 2021and will be up 11 per cent from the current levels raising Indian Market as overweight on the back of strong capital flows. The reversal comes with foreign brokerages saying that earnings are likely to continue improving for the next two years after the sharp fall this year and a global recovery from the pandemic that jolted equity markets earlier this year. The foreign brokerage firm also highlighted that the market sentiment is high due to positive reports about the coronavirus vaccine. Nifty 50 has managed to chart its way to make fresh all-time highs repeatedly over the last few days. Goldman Sachs’ new target would see Nifty go another 11% from its current record high of 12,769 points. “We think the investment case for India has improved now, and upgrade it back to overweight,” Goldman Sachs said in a note. Read more

Closing Bell:Sensex down 236.48 points, Nifty at 12690.80

Thursday, November 12, 2020
At close, the Sensex was down 236.48 points or 0.54% at 43357.19, and the Nifty was down 58.40 points or 0.46% at 12690.80 even as FM Nirmala Sitharaman announced 12 measures under 'AtmanirbharBharat 3.0. SBI was the top loser followed by Kotak Mahindra Bank, IndusInd Bank, and ICICI Bank. While HUL, ITC, and L&T were top gainers. About 1531 shares have advanced, 1117 shares declined, and 185 shares are unchanged. Bank and metal other indices ended in the green. BSE Midcap and Smallcap indices rose 0.5 and 1.2 per cent each. India VIX was down over 6% on Thursday.

Sensex fell 100 points to 43,520 levels and Nifty overed around 12,710 marks

Thursday, November 12, 2020
The equity markets in India were trading marginally lower, amid mixed global cues, today (12th November 2020). A Reuters report said that the Centre is likely to unveil another stimulus package of about $20 billion this week focusing on stressed sectors, middle-income groups in urban and rural areas, and employment generation before Diwali. Among headline indices, the S&P BSE Sensex fell 100 points to 43,520 levels and the Nifty50 index hovered around 12,710 marks. HDFC, Kotak Mahindra Bank, IndusInd Bank, and ICICI Bank were all trading 1 percent down. On the other hand, M&M and Titan gained 2 and 1 percent, respectively. The trend among Nifty sectoral indices was mixed, with the Nifty IT index, up 1 percent, leading the list of gainers. Eight hundred and eight companies including Eicher Motors, IRCTC, and Jubilant FoodWorks are set to declare their quarterly earnings today.

Closing Bell:Sensex gains 316 points, Nifty at 12749.15

Wednesday, November 11, 2020
At close, the Sensex was up 316.02 points or 0.73% at 43593.67, and the Nifty was up 118.10 points or 0.93% at 12749.20 for eight-day amid broad-based buying seen in metal, pharma and auto sector. Tata steel was the major gainer followed by Axis Bank, Bajaj Finserv, and ITC. While Reliance was the top loser followed by IndusInd Bank, Titan Company, Asian Paints and Britannia Industries. About 1326 shares have advanced, 1196 shares declined, and 168 shares are unchanged. Except for Nifty PSU Bank index, other sectoral indices ended higher. The metal and pharma rose over 3 per cent each.

Pfizer surges 19% as parent's Covid vaccine trial success

Tuesday, November 10, 2020
Shares of Pfizer gained 20 per cent on Tuesday and touched a record high of Rs.5900 a piece after its parent company Pfizer Inc said that its Covid-19 vaccine was more than 90 per cent effective, based on initial trial results. Pfizer and German partner BioNTech said they had found no serious safety concerns yet and expected to seek US emergency use authorization this month, raising the chance of a regulatory decision as soon as December, an announcement that triggered hopes worldwide. The trial will continue through a final analysis at 164 confirmed cases. The trial has enrolled 43,538 participants to date, and of these, 38,955 had received a second dose as of November 8. If permission granted, the two companies estimate they can roll out up to 50 million doses this year, enough to protect 25 million people, and then produce up to 1.3 billion doses in 2021. This announcement has cheered the world market on hopes of Covid vaccine. Read more

Bihar election result 2020:UPDATE

Tuesday, November 10, 2020
According to the latest trends, the National Democratic Alliance (NDA) — the Bharatiya Janata Party (BJP), the Janata Dal (United, — is set to retain power in Bihar. The BJP is leading in 72 seats, while Nitish Kumar's JD(U) is ahead in 49 Assembly constituencies. If these trends hold, the NDA should be able to get past the magic figure of 122 in the 243-member House. Meanwhile, in the Mahagathbandhan fold, the Tejashwi Yadav-led Rashtriya Janata Dal (RJD) is ahead in 66 seats and the Congress in 21. The counting of votes, which began at 8 am, is likely to continue late into the evening because of a staggering increase in the number of EVMs on account of the coronavirus pandemic. So far, 50 percent of the votes have been counted, according to the Election Commission of India. Read more

Closing Bell: Sensex gains 680.22 points, Nifty at 12631.10

Tuesday, November 10, 2020
At close, the Sensex was up 680.22 points or 1.60% at 43277.65, and the Nifty was up 170.10 points or 1.37% at 12631.10 on coronavirus vaccine hopes. Bajaj Finance and IndusInd Bank were top gainers followed by L&T, Bajaj Finserv and HDFC. Tech Mahindra, HCL Technologies, and Infosys were the top losers. About 1203 shares have advanced, 1457 shares declined, and 172 shares are unchanged. The BSE MidCap index ended 0.10 per cent lower while the BSE SmallCap index was down 0.48 per cent. Nifty IT was down 3.8 per cent, Nifty Pharma was down 4.3 per cent While Nifty Bank was up 3.9 per cent and Nifty Infra up 2 per cent.

India's exports show signs of improvement

Tuesday, November 10, 2020
India's exports grew 22.47 per cent year-on-year to $6.75 billion in the first week of November, Showing signs of improvement, mainly driven by healthy growth in pharmaceuticals, gems and jewellery and engineering sectors, an official said today(10th November 2020). The exports during the first week of November last year was $5.51 billion. Imports in November (1st - 7th) this year too increased by 13.64 percent year-on-year to $9.30 billion as against $8.19 billion, the official said. Imports, excluding petroleum, jumped 23.37 percent during the week, the official added. The trade deficit during the week stood at $2.55 billion. Exports of pharmaceuticals, and gems and jewelry grew 32 per cent to $139.12 million and 88.8 per cent to $3,360.71 million, respectively. Read more

MARKET UPDATE:Sensex gained 100 points at 42,700 levels and Nifty topped the 12,500-mark

Tuesday, November 10, 2020
The markets in India were trading at record high levels for the second consecutive day today(10th November 2020) after Pfizer said its experimental Covid-19 vaccine was more than 90 percent effective based on initial trial results. Among benchmarks, the S&P BSE Sensex gained 100 points at 42,700 levels and the Nifty50 index topped the 12,500-mark. HDFC, ICICI Bank, Larsen & Toubro, and State Bank of India were all up 2 percent each. Meanwhile, Pfizer zoomed 19 percent in early deals on the Covid vaccine-related development. The Nifty sectoral indices were mixed, with gains in the Nifty Bank index, up 1.5 percent, being offset by the Nifty IT index, down 2 percent. Five hundred and thirty-five companies including GAIL India, Mahindra & Mahindra, Hindalco Industries, and Tata Power are scheduled to announce their quarterly earnings today.

India looks to rural sector to rescue virus-ravaged economy

Monday, November 9, 2020
India’s economy suffered badly by the pandemic is drawing energy from one of its rather unexpected engines: farmers. Business leaders, policymakers, and politicians alike are pinning hopes on the rural sector as bountiful rains have set the stage for another year of record crops. Higher disposable incomes with farmers are expected to boost demand from automobile to cement to gold jewelry. That contrasts with the urban areas, where companies are still struggling to boost their sales following the pandemic that has hit business activities, hurt demand, and caused labor shortage. The adverse impact of the world’s strictest lockdown in March continues to haunt, but the hinterland is holding out hope. Read more

Divi's Lab hits record high after Q2 result

Monday, November 9, 2020
Shares of The Hyderabad-based company Divi's Laboratories hit a record high of Rs 3,463, up 7 per cent on the BSE on Monday after the company reported a strong 45.6 per cent year-on-year (YoY) jump in its net profit at Rs 520 crore mainly on account of robust sales. It had reported a profit of Rs 356.78 crore for the corresponding quarter last year. The company reported a 21% year-on-year rise in revenue at Rs 1,749.3 crore in the quarter ended September, according to an exchange filing. Consolidated total income of the company stood at Rs 1,762.94 crore for the quarter under consideration. It was Rs 1,492.60 crore for the same period a year ago, it added. For the current quarter, Divi’s Labs witnessed a forex loss of Rs 16 crore against a gain of Rs 13 crore. Global research firm Jefferies has upgraded the stock to buy and has raised the target to Rs 3,772 from Rs 3,159 per share. Read more

Closing Bell:Sensex jumps 704 points, Nifty at 12461.05

Monday, November 9, 2020
At close, the Sensex was up 704.37 points or 1.68% at 42597.43, and the Nifty was up 197.50 points or 1.61% at 12461 for the sixth consecutive session and closed at the record high levels on November 9 supported by the positive global cues.ICICI Bank, HDFC Bank, Infosys, and Reliance Industries (RIL) were the major contributors to the Sensex's pack, While ITC, Maruti Suzuki, and Bajaj Finserv were the top losers. About 1479 shares have advanced, 1155 shares declined, and 181 shares are unchanged. Bank and energy sector gained 2 per cent. Other sectoral indices ended in the green. The BSE MidCap index gained 1 per cent and the BSE SmallCap added 0.57 per cent.

New US govt expected to lower rhetoric on China but continue to stand firm against Beijing’s aggression

Monday, November 9, 2020
The new Joe Biden administration is expected to lower the rhetoric on China but continues to deal firmly against Beijing’s aggression including backing India amid the ongoing tensions at the friction points along the Line of Actual Control. The Biden administration is widely expected to reduce the temperature in the public domain against China in contrast to the Trump regime but continues to deal firmly against Beijing’s aggression, including human rights violations, according to sources. In fact, days ahead of the polls, Biden himself had indicated strong support to safeguard India’s territorial integrity. “The Obama-Biden years were some of the best we’ve ever had between our two countries…We can and should be natural allies. That’s why if elected President, I will continue what I have long called for: Read more

MARKET UPDATE:Sensex surged over 600 points to as high as 42,534 and Nifty hit 12,445.2

Monday, November 9, 2020
The Indian benchmark indices hit their respective fresh lifetime highs after making a firm start today(9th November 2020) as clarity emerged on the US presidential polls front. Among the headline indices, the S&P BSE Sensex surged over 600 points to as high as 42,534 and the Nifty50 index hit 12,445.2, surpassing their previous record highs of 42,273.87 and 12,430.5, respectively, hit in January 2020. ICICI Bank, Infosys, HCL Tech, and Powergrid rose 2 percent each and were the top Sensex gainers. All the BSE constituents were trading in the green. The Nifty sectoral indices were also painted green, led by gains in the Nifty Bank index, up 1.6 percent. Two hundred and fifty-three companies, including Equitas Small Finance Bank, IndiaMART InterMESH, and JK Cement, are set to announce their September quarter earnings today.

Payments on WhatsApp go live in India

Friday, November 6, 2020
WhatsApp pay owned by Facebook Mr. Zuckerberg can go live from Nov 5th using the homegrown, multibank Unified Payments Interface, its operator the National Payments Corporation of India said in a statement Thursday. While introducing a 30 per cent cap on the number of UPI transactions that can be processed by third-party apps like Google Pay, PhonePe and others. Also, payments are available now in 10 Indian regional language versions of the platform. The two decisions have the potential to change India’s digital payments landscape. While WhatsApp, which had one million people using its beta app, can extend the payments service to another 19 million users, the 30 per cent cap will provide a level playing field and prevent a monopoly from getting created on the UPI space. Read more

RBI Dy Governor calls for tighter regulations for large NBFCs

Friday, November 6, 2020
Newly-appointed deputy governor M Rajeshwar Rao today (6th November 2020) said larger non-banking finance companies (NBFC) should be regulated as strictly as banks in order to preserve financial stability, at the same time letting the other NBFCs enjoy the light-touch regulation for the sector. The sector can expect to witness a graded regulatory framework for NBFCs "calibrated in relation to their contribution to systemic significance.” This may include having a relook on the regulation of microfinance institutions, and curtailing the regulatory arbitrage enjoyed by certain NBFCs that are neither too big to cause systemic instability, nor small enough to be ignored. "NBFCs with significant externalities and which contribute substantially to systemic risks must be identified and subjected to a higher degree of regulation. One can also argue that the design of a prudential regulatory framework for such NBFCs can be Read more

US Presidential Election results 2020: Update

Friday, November 6, 2020
Democratic party nominee Joe Biden is now racing ahead of US President Donald Trump in key states like Georgia and managed to narrow the gap in Pennsylvania. He continues to lead in Arizona and Nevada. Going by the current trend, the US elections 2020 appears to be inching closer toward the outcome. A candidate needs to win 270 electoral votes to capture the US presidency. While no winner has been declared yet and the results from key states are trickling in for one of the most bitterly fought elections in US history. In Michigan, the Trump campaign had sought to stop the counting of absentee ballots, while in Georgia it has alleged that even improper ballots are being counted. Yesterday(5th November 2020), America witnessed a range of protests from both pro-Trump and anti-Trump groups. Read more

Closing Bell: Sensex gains 552 points, Nifty at 12263.55

Friday, November 6, 2020
At close, the Sensex was up 552.90 points or 1.34% at 41893.06, and the Nifty was up 143.20 points or 1.18% at 12263.50 for 5th day lifted mainly by index heavyweight Reliance Industries and financials.RIL was the top Sensex gainer, followed by NTPC, Bajaj-Auto, SBI, HDFC, M&M, ONGC, Bajaj Finsv and Maruti Suzuki. On the flip side, Tech Mahindra, Kotak Mahindra Bank, Nestle India, Infosys and TCS were among top Sensex losers. About 1478 shares have advanced, 1106 shares declined, and 186 shares are unchanged. Nifty Financials index, up 0.8 per cent. Among sectors, buying seen in the bank, energy, IT and metal sectors, while FMCG and Pharma remained under pressure. The BSE MidCap and SmallCap indexes were up 0.6 per cent, each.

MARKET UPDATE:Sensex gained 300 points at 41,650 levels and Nifty topped the 12,200-mark

Friday, November 6, 2020
The equity markets in Indian were trading firm today's(6th November 2020) early deals, up over half a percent, amid mixed global cues. The S&P BSE Sensex gained 300 points at 41,650 levels and the Nifty50 index topped the 12,200-mark. Reliance Industries was up 2 percent after the conglomerate said that Saudi Arabia’s Public Investment Fund will invest Rs 9,555 crore for a 2.04 percent equity stake in Reliance Retail. Besides, Bajaj Finserv and HDFC were also up 1 percent each. The Nifty sectoral indices were trading mixed. In the broader market, the S&P BSE MidCap and SmallCap indexes were up 0.6 percent, each. Two hundred and nineteen companies including ITC, Cipla, Ashok Leyland, and Bank of India are scheduled to declare their quarterly earnings today. Read more

India-made COVID-19 vaccine could be launched by February?

Thursday, November 5, 2020
An Indian government-backed COVID-19 vaccine could be launched as early as February as last-stage trials begin this month and studies have so far shown it is safe and effective, according to sources. Bharat Biotech, a private company that is developing COVAXIN with the government-run Indian Council of Medical Research (ICMR), had earlier hoped to launch it only in the second quarter of next year. "The vaccine has shown good efficacy," senior ICMR scientist Rajni Kant, who is also a member of its COVID-19 task-force, said at the research body's New Delhi headquarters on 5th November 2020.. "It is expected that by the beginning of next year, February or March, something would be available." A launch in February would make COVAXIN the first India-made vaccine to be rolled out. Read more

When we might know US election results

Thursday, November 5, 2020
As of 4:50 p.m. on 4th November, six states that will decide the next president remained uncalled, as did a handful of Senate races that will determine who controls the chamber. In the presidential race, as of 4:50 p.m. Eastern time, it is not yet known who won Alaska (3 electoral votes), Arizona (11), Georgia (16), Nevada (6), North Carolina (15), or Pennsylvania (20). With three new calls — Michigan and Wisconsin for Joseph R. Biden Jr., and Maine’s Second Congressional District for President Trump — Mr. Biden has 253 confirmed electoral votes and would need 17 more to win. President Trump has 214 confirmed electoral votes and would need 56 more to win. Five Senate races were uncalled in four states: Alaska, Georgia, Michigan, and North Carolina. A sixth race, in Maine, was called Wednesday afternoon for the Republican incumbent, Senator Susan Collins. Read more

Closing Bell:Sensex jumps 724 points, Nifty at 12120.30

Thursday, November 5, 2020
At close, the Sensex was up 724.02 points or 1.78% at 41340.16, and the Nifty was up 211.80 points or 1.78% at 12120.30 due to-the-board buying and favourable global cues as Democrat candidate Joe Biden inched closer to the win in the US Presidential Elections 2020 SBI was the top Sensex gainer followed by Tata Steel, IndusInd Bank, Bajaj Finance, Bajaj Finsv, HCL Technologies, Asian Paints, Titan Company and ITC. While losers were Hero MotoCorp and HDFC Life. Except for Nifty Realty, all the Nifty sectoral indices ended in the green, led by Nifty Metal index, up 4.40 per cent.while Bank, Energy and Infra indices rose 2 per cent each. BSE Midcap and Smallcap indices added over 1.5 per cent each.Nifty PSU Bank index, up 3 per cent

MARKET UPDATE:Sensex gained 500 points at 41,144 levels and Nifty topped the 12,000-mark

Thursday, November 5, 2020
The equity markets in India made a firm start today(5th November 2020), up over 1 percent, amid favourable global cues as Democrat candidate Joe Biden inched closer to the win in the US Presidential Elections 2020. The S&P BSE Sensex gained 500 points at 41,144 levels while the broader Nifty50 index topped the 12,000-mark for the first time since October 21, 2020. The Nifty50 index rose to above 12,050 level, the highest level in more than eight months. Among individual stocks, SBI rose over 6 percent, after the Q2 results, and was the top Sensex gainer, followed by HCL Tech (up 4 percent). Besides, other tech stocks Tech Mahindra and Infosys were also up 2 percent each. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 3 percent. The broader markets were also up, but not to the extent of the benchmarks. The S&P BSE MidCap and SmallCap indexes were both ruling 0.8 percent higher. Read more

SBI Net profit jumps 52 per cent to ₹4,574 crore in Q2

Wednesday, November 4, 2020
The largest Mumbai based Nationalised bank, State Bank of India on Wednesday reported a net profit of ₹ ₹4,574 crores in the September quarter as compared to ₹3011 crores in the same period of the previous year as the lender's provisions declined during the quarter and tax cost and higher net interest income. On a quarterly basis, the profit rose 9 per cent from Rs 4,189.3 crore-profit reported in Q1FY21. It reported net NPA of 1.59% of total assets as compared to 2.79% in the same quarter of the previous year. Gross NPA stood at 5.28%, as compared to 7.19% in the year-earlier quarter. Analyst had estimated the profit at Rs 2,117.2 crore. The deposits grew by 14.41 per cent YoY, with current account deposit rising by 8.55 per cent YoY and saving bank deposits up by 16.28 per cent YoY, said the bank. The bank’s operating profit increased nearly 12 per cent to Rs 16,460 crores in Q2FY21 from Rs 14,714 crores clocked in Q2FY20. Read more

Jack Ma's blunt words just cost him $35 billion

Wednesday, November 4, 2020
Two weeks ago, Ma opined on China’s banking system at a high-profile financial forum in Shanghai, throwing himself into the eye of the storm. In that speech, apart from labeling the global banking Basel Accords as an “old people’s club,” Ma said “systemic risk” is not the issue in China. Rather, China’s biggest risk is that it “lacks a financial ecosystem.” Chinese banks are like “pawn shops”, where and guarantees are the hard currencies. As a result, some decided to go so big they are not allowed to fail. “As the Chinese like to say, if you borrow 100,000 yuan from the bank, you are a bit scared; if you borrow a million yuan, both you and the bank are a little nervous; but if you take a 1 billion yuan loan, you are not scared at all, the bank is,” Ma said. Read more

Closing Bell:Sensen gains 355 points, Nifty at 11908.50

Wednesday, November 4, 2020
At Close, Sensex closed 355 points, or 0.88 per cent, higher at 40,616.14 while Nifty finished 95 points, or 0.80 per cent, up at 11,908.50 ahead of the US Presidential election outcome.IndusInd Bank was the top Sensex gainer followed by Sun Pharma, Reliance Industries (RIL), Infosys, Kotak Mahindra Bank and Tech Mahindra. On the other hand, Housing Development Finance Corporation (HDFC), Power Grid Corporation of India, Axis Bank, Bharti Airtel were among top Sensex loser. Nifty Pharma index up over 2 per cent. Nifty IT index was up 1.78 per cent, followed by Nifty Auto index. The BSE MidCap index ended 0.43 per cent higher at while the BSE SmallCap index settled at 14,883, up 0.33 per cent.

US Presidential Election results 2020 update

Wednesday, November 4, 2020
The US Election 2020 result day is finally here. Even as ballots continued to be counted, US President Donald Trump alleged "fraud” in the presidential election, and declared himself the winner, without results to back up the claims. Trump said: “We were getting ready to win this election. Frankly, we did win this election.” The President called the process of counting mail-in ballots a fraud and alleged that the Democratic Party was trying to steal the election. He pledged to fight the results of the election in the Supreme Court.“ We will be going to the US supreme court. We want all voting to stop,” Trump said. Earlier, Democratic presidential candidate Joe Biden delivered his brief remarks to an enthusiastic crowd of supporters in Delaware. Biden said he felt confident about winning Arizona, Michigan, Wisconsin, and Pennsylvania, arguing that "it ain't over until every vote is counted until every ballot is counted." Read more

MARKET UPDATE:Sensex gained 280 points to 40,530 levels and Nifty was above the 11,850-mark

Wednesday, November 4, 2020
The Indian equity markets rose over half a percent today(4th November 2020) as early trends showed Democratic candidate Joe Biden racing ahead of Republican Donald Trump in the US presidential elections. Among the headline indices, the S&P BSE Sensex gained 280 points, or 0.7 percent, to 40,530 levels and the Nifty50 index was above the 11,850-mark. Infosys, Sun Pharma, and HCL Tech (all up 3%) were the top Sensex gainers. The trend among Nifty sectoral indices was mixed, with the Nifty IT index, up 2 percent, leading the list of gainers. In the broader market, the S&P BSE MidCap and SmallCap indices were up half a percent, each. Ninety-one companies including State Bank of India, Lupin, and Adani Enterprises, are scheduled to announce their quarterly results today. Read more

Sun Pharma Q2 profit jumps 70 per cent, beats street estimates

Tuesday, November 3, 2020
Mumbai-based Drug producer Sun Pharmaceutical Industries reported a 70.4 per cent jump in net profit at Rs 1,812.79 crore for the quarter ended September driven by operating performance and tax credit. It had reported a net profit of Rs 1,064.09 crore in the same quarter a year ago. Analysts had projected the profit figure of Rs 1,194 crore. Revenue rose 5.3% to ₹8,550 crores compared to the year-ago period, according to a filing on Tuesday. Earnings before interest, tax, depreciation and amortization (EBITDA) climbed 22.5 per cent YoY to Rs 2,193.3 crore as compared to last year's Rs 1,789.7 crore. The company said there was an exceptional tax gain for the quarter due to creation of a deferred tax asset amounting to Rs 288.28 crore, arising out of a subsequent measurement attributable to restructuring of an acquired entity. Read more

US presidential poll:Biden good for emerging markets; dollar to gain from Trump win

Tuesday, November 3, 2020
As the race for US presidential poll enters the final lap global financial markets remain on the edge. Analysts say while predicting the election outcome is harder-than-ever, a victory for Democratic candidate Joe Biden will be good for emerging markets (EM), including India. Analysts believe what is more important for the markets is whether the elections will see a clear ‘sweep’, where the winning party also takes both chambers of the Congress. In such a scenario, more decisive policies could be pursued, in contrast to a situation where both chambers block each other and stall economic progress. Also, this would allow for a meaningful stimulus package that could become a catalyst for a stronger market. Read more

Closing Bell:Sensex gains 504 points, Nifty at 11813.50

Tuesday, November 3, 2020
At close, the Sensex was up 503.55 points or 1.27% at 40261.13, and the Nifty was up 144.30 points or 1.24% at 11813.50 ahead of the US presidential poll outcome. State Bank of India (SBI), Power Grid Corporation of India, Housing Development Finance Corporation, Sun Pharma, IndusInd Bank and Titan Company were among other Sensex gainers. . NTPC was the top Sensex loser, followed by RIL, Nestle India, HCL Technologies, Infosys, HUL. About 1391 shares have advanced, 1215 shares declined, and 179 shares are unchanged. India VIX dropped nearly 4 per cent to 24.2 levels. Barring Nifty Media and Nifty Realty indices, all the sectoral indices ended in the positive note.BSE Midcap and Smallcap indices rose 0.3-0.4 per cent.

MARKET UPDATE:Sensex gained 400 points to 40,190 levels and Nifty testing the 11,800-mark

Tuesday, November 3, 2020
The equity markets in India were trading firm today, up over 1 percent, on the back of favourable global cues, ahead of the US presidential polls. Among the headline indices, the S&P BSE Sensex gained 400 points, or 1.1 percent, to 40,190 levels and the Nifty50 index was testing the 11,800-mark. ICICI Bank (up 4%) was the top Sensex gainer, followed by State Bank of India, IndusInd Bank, and HDFC Bank (all up 2%). NTPC also ticked up in early deals after its board approved the buyback of 197.8 million equity shares at a price of Rs 115 per unit. All the Nifty sectoral indices were trading in the green, led by the Nifty Bank index, up 2 percent, which was trading at its highest level since March 13. Read more

HDFC Q2 result net profit tanks 28 per cent, beats market expectation

Monday, November 2, 2020
Housing Development Finance Corporation (HDFC) on Monday posted a net profit for the September quarter of FY21 which is 27.5 per cent less compared to the corresponding year. It reported a profit of Rs 2,870.12 crore against a Rs 2,360 crore estimate that analysts had made. It had reported a net profit of Rs 3,961.5 crore in the year-ago period. On a consolidated basis, the profit declined 53.15 per cent to Rs 5,035.41 crore from Rs 10,748.69 crore clocked in Q2FY20. Provisions worth Rs 436 crore has been set aside for the September quarter of FY21. It added that bottom line numbers are not comparable due to dividend income and profit on the sale of investments of Rs 323 crore. The figure stood at Rs 2,701 crore last year. The net interest income (NII) came in at Rs 3,647 crore, jumping 20.7 per cent YoY from Rs 3,021 crore. Read more

India's factory output hits decade high in October as demand bounces back

Monday, November 2, 2020
Factory activity in India expanded at its fastest pace in over a decade in October as demand and output continued to recover strongly from coronavirus-related disruptions, but firms cut more jobs, as per a private survey. Indian economy is healing after shrinking a record 23.9 percent in the April-June quarter. The Indian government has removed most restrictions imposed to control the spread of the virus, though infections continue to climb and now number over 8 million people. The Nikkei Manufacturing Purchasing Managers' Index INPMI=ECI, compiled by IHS Markit, rose to 58.9 in October from September's 56.8. The reading was the highest since May 2010 and above the 50-level separating growth from contraction for the third straight month. "Levels of new orders and output at Indian manufacturers continued to recover from the Covid-19 induced contractions seen earlier in the year," said Pollyanna De Lima, economics associate director at IHS Markit. Read more

Is RIL's dream run at the bourses over?

Monday, November 2, 2020
Shares of RIL slipped over 5 percent today(12nd November 2020) morning to Rs 1,948 levels - its three-month low - reacting to the September 2020 quarter numbers released post market hours on Friday. Its partly paid (PP) shares, too, were quoting nearly 10 percent lower and hit a low of Rs 1068.10 in intra-day deals on the BSE. Over the past few sessions, however, the stock has been range-bound and has not been able to stick at higher levels. So, is the dream run over or the rally have more steam left? Here's what charts say. The sentimental level of Rs 2,000 mark is crucial for the road ahead for this stock and will pave the way for the near-term sentiment. As of now, RIL has been trading in a narrow range amid buying and sell trades. Read more

Closing Bell:Sensex gains 143 points, Nifty at 11669.15

Monday, November 2, 2020
At close, the Sensex was up 143.51 points or 0.36% at 39,757.58, and the Nifty was up 26.80 points or 0.23% at 11,669.20.IndusInd bank was the most top gainer followed by ICICI Bank, Axis Bank, and HDFC. Reliance Industries Ltd (RIL) was the top Sensex loser followed by HCL Technologies and TCS. About 1080 shares have advanced, 1535 shares declined, and 148 shares are unchanged. Nifty Bank index gained 4.5 per cent. The BSE MidCap index closed up 0.36 per cent while the SmallCap index tumbled 0.7 per cent. India Vix was up over 1% during the day. Among sectors Nifty Auto, Nifty IT, Nifty Media, Nifty Metal, and Nifty Pharma ended with losses while all others gained during the day.

MARKET UPDATE:Sensex dipped 90 points at 39,500 levels and the Nifty neared the 11,600-mark

Monday, November 2, 2020
The equity markets in India pared its early gains and slipped into the red in today's(2nd November 2020) volatile session, ahead of the Supreme Court hearing in the interest waiver case. The S&P BSE Sensex dipped 90 points at 39,500 levels and the Nifty50 index neared the 11,600-mark. ICICI Bank rose over 6 percent after announcing its September quarter results. The stock was the top Sensex gainer. Besides, IndusInd Bank was also up 3 percent. On the other hand, Reliance Industries dipped 4 percent post Q2 results. The Nifty sectoral indices were trading largely in the green, led by the Nifty Bank index, up 1.3 percent. in the broader market, the S&P BSE MidCap index was up 0.2 percent while the SmallCap index fell 0.4 percent. Equitas Small Finance Bank will debut on the bourses today after the issue price was fixed at Rs 33 per share. The Rs 518 crore public issue was subscribed to 1.95 times. Read more

Karur Vysya Bank Q2 net profit jumps 81 per cent to Rs 115 crore

Friday, October 30, 2020
Private sector Karur Vysya Bank (KVB) on Friday reported an 81.4 per cent jump in its net profit at Rs 114.89 crore in the second quarter of FY 2020-21 due to lower provisioning for bad loans. The Bank had reported a net profit of Rs 63.33 crore in the corresponding year. Total income was down to Rs 1,666.26 crore in the July-September period of FY21 as against Rs 1,815.24 crore in the same quarter of 2019-20, KVB said in a regulatory filing. Interest income was down 9.3 per cent at Rs 1,394.70 crore from Rs 1,537.51 crore. The asset quality of the Bank was improved with the gross non-performing assets (NPAs) falling to 7.93 per cent of the gross advances at end September 2020 from 8.89 per cent a year ago. The provisions for bad loans and contingencies for Q2FY21 was brought down at Rs 284.73 crore from Rs 365.17 crore reserved a year ago. Bad loans were down at Rs 3,998.43 crore as against Rs 4,391.03 crore. Read more

BSE to consult SEBI on Future-Reliance deal after Amazon objection

Friday, October 30, 2020
Bombay Stock Exchange (BSE) will consult the market regulator and seek clarifications from Future Retail and Reliance Industries about their $3.4 billion transactions, following Amazon's objection to the deal, an exchange source said. Amazon on Oct. 25 won an injunction from a Singapore arbitrator to halt Future's deal to sell retail assets to Reliance, arguing the Indian retailer group breached certain contract provisions it entered into last year in a separate deal with the U.S. firm. Both Indian firms reacted to the decision by saying they want to complete the deal "without any delay". Amazon has now written to capital markets regulator SEBI, as well as the BSE and the National Stock Exchange, to put the deal on hold in light of the arbitration order, two separate sources said. A BSE source said it will consult SEBI about its stance on the deal and the exchange later on Friday also plans to seek clarification from Future and Reliance Retail. Read more

Closing Bell:Sensex down 136 points, Nifty at 11642.40

Friday, October 30, 2020
At close, the Sensex was down 135.78 points or 0.34% at 39614.07, and the Nifty was down 28.40 points or 0.24% at 11642.40 due to weak global cues. HCL Technologies, Tata Steel, NTPC, ONGC and Nestle were top Sensex gainers. While Power Grid, Maruti Suzuki India, and Kotak Mahindra Bank were the top losers. About 1322 shares have advanced, 1222 shares declined, and 167 shares are unchanged. The BSE MidCap index ended 0.62 per cent higher while the BSE SmallCap index down just 0.03 per cent. India VIX, rose 3 per cent to 24.7 levels. Except auto, bank and FMCG other sectoral indices ended higher.

Bidding parameter changed for Air India,deadline extended till Dec 14

Friday, October 30, 2020
The government has changed a bidding parameter for airline Air India, allowing potential buyers to quote enterprise value instead of equity value. Simultaneously, the deadline for submitting bids has been extended to December 14 from October 30. Civil Aviation Minister Hardeep Singh Puri said this would entice bidders who till now had constructed the debt amount as a minimum threshold bid amount. The Tata group, which operates two airlines Vistara and AirAsia India, is a favourite for acquiring the national carrier. “We expect to complete the bidding process by end of December,” Puri said. The enterprise value of a company includes the equity value, debt as well as cash with the company. Equity value measures the value of a company’s shares. However, the government has mandated that a willing bidder will have to pay 15 percent of his quote as upfront cash payment, disinvestment secretary Tuhin Kanta Pandey said.

MARKET UPDATE:Sensex up by 120 points,hovered around 39,870 levels,and Nifty holding 11,650-mark

Friday, October 30, 2020
The Indian benchmark indices rose half a percent after a volatile start today(30th October 2020). Among headline indices, the S&P BSE Sensex hovered around 39,870 levels, up 120 points, and the Nifty50 index was holding the 11,650-mark. Nestle India, IndusInd Bank, and HCL Tech (all up 1%) were the top Sensex gainers. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 1 percent. Meanwhile, in the broader market, the S&P BSE MidCap and SmallCap indexes were ruling 0.9 percent and 0.8 percent higher, respectively. Seventy -seven companies including Reliance Industries, IndusInd Bank, DLF are slated to report their quarterly earnings today. In a Bloomberg poll, 14 analysts estimated a net profit of Rs 8,194 crore for Reliance Industries; 10 analysts estimated revenue of Rs 1.11 trillion for the company.

India’s IT and pharma stocks: Winners and losers in India from US Vote

Thursday, October 29, 2020
Investors in India will be watching closely information technology and pharma stocks as they await the outcome of next week’s US presidential election. Drugmakers and software exporters are the top performers in India’s $2.1 trillion equity market this year amid the pandemic. The result of the Nov. 3 vote could have a bearing on these companies through taxation, trade and immigration policies, and currency movements. More broadly, India is seen emerging as one of the biggest beneficiaries in the Asia Pacific from the election, irrespective of the outcome, according to UBS Group AG. A UBS analysis of the potential impact on a dozen of the region’s biggest markets put India as a winner in each of their three chosen scenarios: a Biden and Democrat sweep, a Biden victory, and divided Congress, and a status quo Trump victory. The study, published last month, takes into account factors like trade and foreign policy, Federal Reserve policy, and fiscal spending on infrastructure. Read more

Yearly gold demand in 2020 can be the lowest since 1995 in India: WGC

Thursday, October 29, 2020
The 2020 calendar year may turn out to be the worst year for gold demand in India since 1995. According to the World Gold Council (WGC), gold demand in India so far in CY20 stands at 252 tonnes, as compared to 496 tonnes in the same period last year. Even if October – December 2019 (Q4CY19) demand of 194 tonnes is added to the CY20 demand till now, the total demand for CY20 will be lower compared to CY19 total demand of 696 tonnes. As per WGC data, the calendar year 1995 was the worst with the yearly gold demand in India at 462 tonnes, which improved marginally to 511 tonnes in 1996, 547 tonnes in 2002, and 642 tonnes in 2009. Read more

Maruti Suzuki profit raises to 1 per cent at Rs 1372

Thursday, October 29, 2020
Indias largest Automaker, Maruti Suzuki India on Thursday reported a one per cent year-on-year growth in net profit at Rs 1,372 crore for the September quarter of FY21 against Rs 1,358.6 crore in the same period last year. This is a big update from the company considering it posted a loss of Rs. 249.4 crore for the first quarter of the current financial year ending in June 2020. Revenue rose 10% year-on-year to Rs 18,744 crore, compared with the Rs 19,137-crore estimate.Maruti's Q2 earnings before interest, tax, depreciation, and amortization (Ebitda) came in at Rs 1,933 crore while Ebitda margin for the quarter stood at 10.3 per cent, up to 86 basis points (bps) from 9.46 per cent in Q2FY20.“In Quarter 2, the performance improved on the back of some demand recovery and gradual improvement in supply conditions,” Maruti Suzuki said in a statement.Maruti sold 3.93 lakh units in July-September quarter reporting a massive 413 per cen growth over the previous quarter and 16 per cent. Read more

Closing Bell:Sensex down 172 points, Nifty at 11670.80

Thursday, October 29, 2020
At close, the Sensex was down 172.61 points or 0.43% at 39,749.85, and the Nifty was down 58.80 points or 0.50% at 11,670.80 on weak global cues. Asian Paints, UltraTech Cement, HCL Technologies, and Kotak Mahindra Bank were the top gainers on Sensex while Titan Company, Tata Motors, Adani Ports and L&T were the top drags. About 1019 shares have advanced, 1542 shares declined, and 170 shares are unchanged. Nifty IT and energy ended with gains, all other sectoral indices ended lower led by FMCG, pharma, metal and auto. BSE Smallcap index shed 0.5 per cent. India VIX gained over 3.5 per cent to 24 levels.

MARKET UPDATE:Sensex dipped 250 points to 39,630 levels and the Nifty fell below 11,650-mark

Thursday, October 29, 2020
The equity markets in India fell over half a percent today(29th October 2020), on weak global cues, ahead of the expiry of the October series derivative contracts. The S&P BSE Sensex dipped 250 points to 39,630 levels and the Nifty50 index fell below 11,650-mark. Larsen & Toubro slid 4 percent after announcing its September quarter results. The stock was the top Sensex loser in early deals. Besides, Titan (down 3%) and Tech Mahindra (down 2%) were the other main drags. The Nifty sectoral indices were a sea of red, with Nifty Bank, Nifty Auto, Nifty IT, and Nifty Metal all trading with over 1 percent cut. In the broader market, the S&P BSE MidCap and SmallCap indexes were down half a percent and 1 percent, respectively. Eighty -two companies including Maruti Suzuki, BPCL, Bank of Baroda, Vodafone Idea, and InterGlobe Aviation, are scheduled to declare their quarterly earnings today. Read more

Titan Q2 results: Profit drops 38 percent to Rs 199 cr in Sept quarter

Wednesday, October 28, 2020
Titan Co on Wednesday reported a net profit of Rs 199 crore for the quarter ended September, down 37.81 per cent from Rs 320 crore a year ago on account of higher expenses. The Company had reported a loss of Rs 270 crore in June Quarter.The numbers are in line with market expectations as a CNBC-TV18 poll had estimated the number to the tune of Rs 200 crore. Its total income for the quarter was Rs 4,389 crore, down 1.72 per cent as compared with the income of Rs 4,466 crore for the corresponding quarter in the previous year. While the company had reported revenue of Rs 1,862 crore for June Quarter. The company said it has incurred a loss of Rs 484 crore during the quarter as a result of a change in the cash flow hedging due to an increase in sales compared to the original sales forecast and advantage of the moratorium offered on the gold on loan.THE standalone EBITDA of the company came at Rs 294 crore against Rs 513 crore YoY. Read more

Closing Bell:Sensex down 600 points,Nifty at 11729.60

Wednesday, October 28, 2020
At close, the Sensex was down 599.64 points or 1.48% at 39922.46, and the Nifty was down 159.80 points or 1.34% at 11729.60. as fears of lockdown measures in many European countries spooked investors after coronavirus cases surged at a rapid pace.HDFC was the top loser followed by IndusInd Bank, ICICI Bank, Tech Mahindra, Bajaj Finance, HCL Tech, Reliance Industries Ltd. While gainers were Bharti Airtel, UPL, M&M, Eicher Motors and Hero MotoCorp. About 979 shares have advanced, 1606 shares declined, and 153 shares are unchanged. The BSE SmallCap index ended 0.76 per cent lower while the BSE MidCap index ended 0.93 per cent down. Nifty Bank index and Nifty FMCG index too fell 0.71 per cent in today’s trade. On the NSE, all the sectoral indices ended in the red.

Indian economy's animal spirits soar

Wednesday, October 28, 2020
The economy in India picked up speed in September as a revival in demand and business activity helped drive the nation toward recovery from the pandemic-induced slump. Five of the eight high-frequency indicators, including exports, tracked by Bloomberg News improved last month, while three were steady. That helped move the needle on a dial measuring the so-called ‘Animal Spirits’ to 5 from 4 in August -- a level arrived at by using the three-month weighted average to smooth out volatility in the single-month readings. Economists, including those at the Reserve Bank of India, attributed the recovery to pent-up demand after a strict lockdown imposed in March to contain the coronavirus outbreak hit the consumption of goods and services. While inventory re-stocking will underpin business activity in the coming months, the improvement might still not be enough to prevent Asia’s third-largest economy from contracting in the financial year to March 2021. Read more

MARKET UPDATE:Sensex up 80 points at 40,590 levels and the Nifty reclaimed the 11,900-mark

Wednesday, October 28, 2020
The equity markets in India were trading flat with a positive bias in today's(28th October 2020) early morning deals after a volatile start. The S&P BSE Sensex was up 80 points, or 0.2 percent, at 40,590 levels and the broader Nifty50 index reclaimed the 11,900-mark. Bharti Airtel surged 10 percent after announcing its September quarter results. Besides, Mahindra & Mahindra, Axis Bank, and Reliance Industries (all up 1%) were the other top gainers. On the other hand, Kotak Mahindra Bank, HDFC, and Ultratech Cement (all down over 1%) were the top Sensex laggards. Hero MotoCorp was also up 4 percent after it announced a wide-ranging partnership with Harley-Davidson for the Indian market. The Nifty sectoral indices were mixed, with gains in the Nifty IT index, up 0.7 percent, being offset by the Nifty Financials index, down 0.6 percent. Read more

Tata Motors Q2 result: Loss widens to Rs 314.5

Tuesday, October 27, 2020
The country's largest commercial vehicle maker Tata Motors on Tuesday reported a consolidated loss of Rs 314.5 crore for the quarter ended September 30. The CNBC-TV18 poll has estimated Rs 1,290 crore loss. The company had reported a loss of Rs 216.56 crore in the September quarter of 2019. The auto major’s total revenue from operations dropped by 18.19 per cent to Rs 53,530 crore, from 65,431.95 crores a year ago. The company’s finance costs increased by Rs 114 crore to Rs 1,950 crore in the quarter due to higher gross borrowings. The company said its revenue in the last six months had been impacted as the group’s manufacturing plants and offices had to be closed down for a considerable period of time due to the Covid-19 pandemic. The company is monitoring the situation closely taking into account directives from the governments. Read more

Indian economy saw growth rebound through Q2FY21: Nomura

Tuesday, October 27, 2020
The Indian economy saw growth rebound through the second quarter of the ongoing fiscal with gross domestic product (GDP) contraction likely to have narrowed to -10.4% from the sharp -23.9% seen in the previous quarter, according to Nomura. The Nomura Monthly Activity Indicator, which takes into account high-frequency indicators from across sectors, improved to -8.6% year-on-year in September from -19.7% in August and a record low of -37.8% in June, “implying a swift GDP growth rebound”, the firm said in a report today. In the run-up to the festive season, aggregate demand recovered to 77% of normal in September against 71% recorded in the month earlier while aggregate supply picked up to 92% of normal in September against 86% in August, it said.

Closing Bell:Sensex gains 376 points, Nifty at 11889.40

Tuesday, October 27, 2020
At close, the Sensex was up 376.60 points or 0.94% at 40,522.10, and the Nifty was up 121.60 points or 1.03% at 11,889.40 led by gains in financial and FMCG stocks. Kotak Mahindra Bank was the top gainer, followed by Nestle India, Asian Paints and Bajaj Finance. TCS, ONGC, Infosys were the top losers. About 1249 shares have advanced, 1354 shares declined, and 178 shares are unchanged. Nifty Private Bank index gained 3 per cent, While Nifty IT slipped 1 per cent. The BSE MidCap index gained 1.65 per cent while the BSE SmallCap index rallied 0.6 per cent. India VIX declined nearly 3 per cent to 22.19 levels. All other sectoral indices ended in the green, except Nifty IT and PSU Bank.

India, US sign landmark defence pact

Tuesday, October 27, 2020
India and the United States today(27th Oct.2020) inked a landmark defence agreement that will allow sharing of high-end military technology, classified satellite data and critical information between the two countries. The signing of the long-negotiated Basic Exchange and Cooperation Agreement (BECA) during the third edition of the 2+2 dialogue between the two strategic partners also signals further boosting of bilateral defence and military ties and it comes in the backdrop of India's tense border standoff with China in eastern Ladakh. External Affairs Minister S Jaishankar and Defence Minister Rajath Singh held the talks with US Secretary of State Mike Pompeo and Defence Secretary Mark T Esper. Both sides were assisted by their top military and security officials. Read more

MARKET UPDATE: Sensex hovered around 40,050 levels, and Nifty gave up the 11,750 level

Tuesday, October 27, 2020
The markets in India turned flat in today's(27th October 2020) volatile start on the back of weak global cues. Among headline indices, the S&P BSE Sensex hovered around 40,050 levels, and the Nifty50 index gave up the 11,750 level. Kotak Mahindra Bank, up 5 percent, was the top Sensex gainer, followed by NTPC (up 4%) and Nestle India (up 2%). The trend among Nifty sectoral indices was largely in the red, led by the Nifty PSU Bank index, down 1.2 percent. In the broader market, the S&P BSE MidCap index was up 0.2 percent while the SmallCap index fell by 0.2 percent. Thirty-seven companies including Bharti Airtel, Tata Motors, and Amara Raja Batteries are scheduled to announce their September quarter earnings today. Read more

Muthoot Finance plans to raise Rs 2,000 cr through bonds

Monday, October 26, 2020
Gold loan company Muthoot Finance on Monday said it is looking to raise up to Rs 2,000 crore through a public issue of non-convertible debentures (NCDs) for lending purposes. The proposed debenture issue will have a base issue size of Rs 100 crore with an option to retain oversubscription up to Rs 1,900 crores aggregating up to tranche limit of Rs 2,000 crore."The issue will open on October 27, 2020, and will close on November 20, 2020, with an option to close on such earlier date or an extended date as may be decided by the board of directors or NCD committee. The NCDs are proposed to be listed on BSE. The allotment will be on a first come first serve basis. The funds raised through this issue will be utilised primarily for lending activities, the company said. There are six investment options for Secured NCDs with monthly or annual interest payment frequency or on maturity redemption payments with coupon ranging from 7.15 per cent to 8 per cent per annum. Read more

Closing Bell:Sensex tanks 540 points, Nifty at 11767.75

Monday, October 26, 2020
At close, the Sensex was down 540 points or 1.33% at 40145.50, and the Nifty was down 162.60 points or 1.36% at 11767.80 due to the board sell-off and weak global cues. Hero MotoCorp, Bajaj-Auto, Reliance and M&M were top losers in the Sensex pack. while gainers were HDFC Life, Nestle, Kotak Mahindra, IndusInd Bank and L&T.About 986 shares have advanced, 1655 shares declined, and 171 shares are unchanged. The BSE MidCap index tumbled 1.77 per cent while the BSE SmallCap index fell 0.88 per cent. Nifty Auto and Metal indices shed over 3 per cent each. On the NSE, all the sectoral indices ended in the red.

Amazon.com Inc. and RIL fight for dominance of India’s e-commerce space

Monday, October 26, 2020
Amazon.com Inc. and RIL’s fight for dominance of India’s e-commerce space is turning into a face-off, with both sides battling over the assets of a supermarket chain that could be key to their wider ambitions. Ambani and Jeff Bezos want the stores and warehouses of Future Retail Ltd., which has penetrated Indian cities and small towns with sales of everything from grocery to fashion and electronics. Amazon, which owns a stake in a Future unit, and Reliance have in recent months made pacts with the Future Group, which they say are now being violated. Amazon wants to block Reliance’s purchase of Future’s brick-and-mortar assets because such a deal would give Ambani unparalleled dominance in the only billion-people economy open to foreign firms. Bezos has bet more than $6 billion on India, and Future’s assets will allow it to reach small towns that house key consumers in a market estimated to swell to $1 trillion.

PM Modi to inaugurate India Energy Forum:India may see $206 bn investment in oil and gas

Monday, October 26, 2020
The country's oil and natural gas sector is likely to see investment to the tune of $206 billion during the next eight to ten years.With Prime Minister Narendra Modi addressing the top global executives at the India Energy Forum by CERA Week 26th Oct.2020, it is expected he would further entice companies to promote a cor a self-reliant India. This when the domestic fuel market is recovering from the pandemic-driven decline. The three-day forum will see participation from Dan Brouillette (US Secretary of Energy), Prince Abdulaziz (Minister of Energy of Saudi Arabia) and Sultan Ahmed Al Jaber (CEO of Abu Dhabi National Oil Company). “The importance of such a global meet comes when you realize that the country is set to see such large investment this decade. Read more

MARKET UPDATE:Sensex slipped 150 points to 40,540 levels and the Nifty slipped below the 11,900-mark

Monday, October 26, 2020
The Indian benchmark indices dipped slightly in today's(26th October 2020) early deals, tracking mixed cues in other Asian markets. The S&P BSE Sensex slipped 150 points, or 0.36 percent, to 40,540 levels and the Nifty50 index slipped below the 11,900-mark. Tech Mahindra (down 2%) and Reliance Industries (down 1%) were the top Sensex drags. On the other hand, IndusInd Bank gained 4 percent on a report that Kotak Mahindra Bank was exploring an all-stock takeover of the bank. Meanwhile, Nestle India rose as high as 2 percent after the announcement of its September quarter results. The trend among the Nifty sectoral indices was largely negative, with the Nifty Metal index, down 1 percent leading the list. In the broader market, the S&P BSE Sensex slipped 0.14 percent while the S&P BSE SmallCap index gained 0.3 percent. Read more

Bharat Biotech starts Covaxin's at-risk manufacturing

Saturday, October 24, 2020
Hyderabad-based vaccine maker Bharat Biotech has not only started the at-risk manufacturing of its candidate Covaxin but is also looking to ramp up capacities as India’s first indigenous Covid-19 vaccine candidate gets the nod for phase 3 trials. The first vaccine candidate will be an intra-muscular one, followed by intra-dermal and nasal ones, depending on test results. Besides setting up a second plant at its Genome Valley facility in Hyderabad to make Covaxin, the firm is looking for another site in the country to make the vaccine. This would be crucial as BBIL expects to forge global partnerships with international agencies like Gavi and also some countries for Covaxin by December.

YES Bank, TTML, Suzlon etc.hit upper circuit on BSE

Saturday, October 24, 2020
Among the 282 stocks that hit their respective upper circuit on the BSE on 23rd Oct.2020(Friday) YES Bank, Suzlon Energy, Tata Teleservices (Maharashtra) (TTML), MTNL, Reliance Power, Reliance Infrastructure, Future Consumer, Indiabulls Integrated Services, and Jet Airways (India) were the important ones. Indo Count Industries, Himatsingka Seide, Ramco Systems, and Godawari Power & Ispat were among the notable stocks that had only buyers queuing up. YES, Bank hit the upper circuit of 5 percent at Rs 13.35 on the BSE ahead of the September quarter results on Friday. The board of directors of the bank is scheduled to meet on October 23, 2020, to consider and approve unaudited financial results of the bank for the second quarter ended September 2020 (Q2FY21). The trading volume more-than-doubled with a combined 110 million shares changing hands, and there were pending buy orders for 14 million shares on the NSE and BSE, exchange data show. Read more

Parliament's joint panel summons Facebook, Twitter

Friday, October 23, 2020
A joint committee of Parliament today(23rd October 2020) issued summons to Facebook in order to seek its "oral evidence" on the issues of data protection and privacy. Twitter too is said to have been directed for an appearance next week. The joint committee led by BJP MP Meenakshi Lekhi has 20 members from the Lok Sabha and 10 from the Rajya Sabha. The agenda of Friday's meeting read: "Oral evidence by the representatives of Facebook India Online Services Pvt Ltd on the Personal Data Protection Bill, 2019." However, the summon to Facebook and Twitter is strictly pertaining to the issue of citizen's personal data protection. The summons to Twitter assumes significance as these come close to the Centre's letter to the microblogging site's chief Jack Dorsey. Read more

Flipkart to acquire 7.8% stake in Aditya Birla Fashion

Friday, October 23, 2020
Aditya Birla Fashion and Retail entered into an agreement with Flipkart today(23rd Oct.2020) for a partnership that will see Flipkart infusing Rs 1,500 crore for a 7.8 percent stake in Aditya Birla Fashion. The agreement would involve the sale and distribution of various apparel brands, Aditya Birla Fashion said, along with providing pre-emption rights and right of first refusal to Flipkart for 1-5 years. Aditya Birla Fashion would issue 3.1 million preference shares to Flipkart at Rs 205 per share, it said in a BSE notification. Aneesh Roy, executive vice-president, research, Edelweiss, said the capital raise would further bolster Aditya Birla Fashion's balance sheet and accelerate growth. The partnership would also enable the company to strengthen its omnichannel presence. The promoter and promoter group companies of Aditya Birla Fashion would hold about 55.13 percent stake upon completion of the issuance. Read more

MARKET UPDATE:Sensex rose 140 pointsto 40,700 levels and the Nifty testing 12,000-mark

Friday, October 23, 2020
The markets in India advanced close to half a percent in today's(23rd October 2020) early deals, in line with the overnight gains in the main Wall Street indices. The S&P BSE Sensex rose 140 points, or 0.35 percent, to 40,700 levels and the Nifty50 index was testing the psychological mark of 12,000. Tata Steel (up 2%), ICICI Bank, HDFC Bank, and Bharti Airtel (all up 1%) were the top Sensex gainers. Meanwhile, SBI Cards plunged 10 percent after announcing its September quarter results. All the Nifty sectoral indices were trading higher, led by the Nifty Bank index, up 1 percent. The broader market tracked the gains in the headline indices, with the S&P BSE MidCap and SmallCap indices trading half a percent higher, each. Tech Mahindra, Nestle India, Yes Bank, and ICICI Lombard General Insurance Company are among the 38 companies set to announce quarterly earnings today. Read more

Bajaj Auto Q2 profit falls 19% to Rs 1,138 crore

Thursday, October 22, 2020
Shares of a major two-wheeler Bajaj Auto fell 1 per cent to Rs.2983 after the company reported 18.84 per cent year-on-year (YoY) drop in net profit at Rs 1,138.20 crore for the quarter ended September 30, missing a CNBC-TV18 poll estimates which of Rs 1,212 crore. The auto major had reported Rs 1,402.42 crore profit for the corresponding quarter last year. Total revenue from operations declined 7.16 per cent YoY to Rs 7,155.86 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 0.9 per cent year-on-year to Rs 1,266.2 crore, but margin expanded 110 bps YoY to 17.7 per cent in Q2 FY21. Operating profit of the company inched lower by 1 per cent to Rs 1,233 crore. As on September 30, 2020, the company's surplus cash and cash equivalents stood at Rs 16,240 crore as against Rs 14,232 crore as on June 30, 2020, and Rs 14,322 crore as on March 31, 2020.Bajaj Auto sold 1,053,337 units in Q2FY21, down 10 per cent YoY, against 1,173,591 units in Q2FY20. Read more

Kovid-19 lockdown: Borrowers to get compound interest waiver for the six-month moratorium period

Thursday, October 22, 2020
The Union Cabinet is understood to have given its go-ahead to the compound interest waiver for borrowers for the six-month moratorium period announced by the Reserve Bank, according to government sources. The government had filed an affidavit in the Supreme Court in a case concerning the moratorium, stating that it would waive interest on interest on loans up to Rs 2 crore for a select category of borrowers. The apex court has asked the government to present a clear plan on the scheme at the next hearing on November 2. The government will now inform the court about the approval from the Cabinet and subsequent directives in this regard. The Centre expects an expenditure of Rs 5,500-6,000 crore on the proposed waiver.

GOI sets aside $7 bn for COVID-19 vaccination

Thursday, October 22, 2020
Govt of India has set aside about 500 billion rupees ($7 billion) to vaccinate the world’s most populous nation after China against the coronavirus, according to some sources. The govt estimates an all-in cost of about $6-$7 per person in the nation of 1.3 billion, it is said. The money provisioned so far is for the current financial year ending March 31 and there will be no shortage of further funds for this purpose, they added. While a government-backed panel predicts that India is past the peak of infections and may contain the spread by February, the nation has taken a massive blow to economic growth and Modi has been reopening the economy. Starting this weekend, Indians will be celebrating several festivals that could lead to a sharp jump in daily virus infections. Pm Narendra Modi on Tuesday said his government will ensure all Indians have access to a Covid-19 vaccine as soon it is ready.

Closing Bell: Sensex down 148 points, Nifty at 11896.45

Thursday, October 22, 2020
At close, the Sensex was down 148.82 points or 0.37% at 40558.49, and the Nifty was down 41.20 points or 0.35% at 11896.50 dragged by banks, pharma, and tech stocks. NTPC was the top Sensex gainer, followed by Bharti Airtel, Bajaj Finance, Tata Steel, Axis Bank, ONGC, ITC and HUL. On the flip side, IndusInd Bank was the top loser, followed by ICICI Bank, Titan Company, Infosys, HDFC Bank, Reliance Industries, Maruti Suzuki. About 1412 shares have advanced, 1188 shares declined, and 159 shares are unchanged. Nifty Pharma index was the top sectoral loser down 1 per cent. The BSE MidCap and SmallCap indices were trading flat with a positive bias.IT and bank ended in the red while buying witnessed in the energy, metal and infra sectors.

MARKET UPDATE:Sensex fell 116 points to 40,590 levels and Nifty hovered around 11,900-mark

Thursday, October 22, 2020
The benchmark indices in India were trading with marginal cuts today(22nd October 2020), on the back of weak global cues. Among the headline indices, the S&P BSE Sensex fell 116 points to 40,590 levels and the Nifty50 index hovered around 11,900-mark. ICICI Bank, PowerGrid, and Asian Paints (all down 1%) were the top Sensex laggards. On the other hand, Bajaj Finserv gained 2 percent after the announcement of its September quarter results. Meanwhile, Vedanta rose 5 percent after announcing that the company's board of directors will meet on October 24 to consider interim dividend. The Nifty sectoral indices were largely in the red, with the Nifty Pharma index, down 1 percent, leading the list of losers. In the broader market, the S&P BSE MidCap and SmallCap indices were trading 0.2 percent higher, each. Forty-eight companies including Asian Paints, Bajaj Auto, Bharti Infratel, and SBI Cards are set to announce their quarterly earnings today. Read more

No merit in relaxing 10% cap on single stock investment: Ajay Tyagi, chairman, Sebi

Wednesday, October 21, 2020
SEBI sees no merit in increasing the 10 percent investment cap on a single stock for actively-managed mutual fund (MF) schemes. “The 10 percent cap is meant for diversification cap. Just because some scrip is outperforming doesn’t mean you raise the ceiling. That will be self re-enforcing that scrip has moved up and you are allowing higher investment in the same scrip. That doesn’t sound very logical. For the sake of diversification, the 10 percent ceiling is something which stays,” said Ajay Tyagi, chairman, Sebi while addressing the media at a market summit organised by industry body CII.

Bajaj Finance Q2 profit declines 36% YoY to Rs 965 crore

Wednesday, October 21, 2020
Shares of Bajaj Finance was down 0.89 per cent at Rs 3,233 on Wednesday after the Company posted huge 35.94 per cent year-on-year (YoY) drop in net profit at Rs 964.88 crore for the quarter ended September 30 as the lender almost tripled provisions for bad loans as the coronavirus pandemic impacted demand for credit and borrowers’ ability to repay. Analysts in an ET NOW had projected the figure at Rs 1,037 crore. The Company had reported Rs 1,506 crore in the same period last year. Loan losses and provisions for the second quarter ended September 30, 2020, was ₹1,700 crore as against ₹594 crores in Q2 FY20. Consolidated assets under management rose to ₹137,090 crores as compared to ₹135,533 crores in the year-ago period.Net interest income of the NBFC increased 4 per cent YoY to Rs 4,165 crore which was better than the CNBC-TV18 poll estimates of Rs 3,711.7 crore. Total operating expenses for Q2 FY21 was down by 16% to ₹1,160 crores from ₹1,384 crores. Read more

Closing Bell:Sensex gains 162 points, Nifty at 11937.65

Wednesday, October 21, 2020
At close, the Sensex was up 162.94 points or 0.40% at 40707.31, and the Nifty was up 40.90 points or 0.34% at 11937.70 for the fourth day. PowerGrid, Bharti Airtel, Hindalco, GAIL and Tata Steel are the top gainers in the Sensex pack, While losers include Britannia, TCS, SBI Life Insurance, Hero MotoCorp and HDFC Life. About 1354 shares have advanced, 1269 shares declined, and 165 shares are unchanged. The BSE MidCap index gained 33 points or 0.23 per cent. While, the BSE SmallCap index closed at 14,900, up just 5 points. Nifty Auto, Nifty FMCG, Nifty IT and Nifty Media indices ending the day in the red. On the flip side, Nifty Metal index gained 2.23 per cent followed by the bank, infra and energy indices.

HUL Q2 result : Net profit rises 9%to Rs 2,009 crore,announces interim dividend of Rs 14

Tuesday, October 20, 2020
Hindustan Unilever (HUL) share price fell over 2 per cent to Rs 2,133 apiece in intraday deals on BSE on Tuesday after the Company reported an 8.7 per cent year-on-year (YoY) rise in its net profit at Rs 2,009 crore for the second quarter of the current fiscal year (Q2FY21). The company had logged a profit of Rs 1,848 crore in the year-ago period. Total sales (revenue) of the company increased 16 per cent during the quarter to Rs 11,442 crore, against Rs 9,852 crore in the year-ago period. The board also declared an interim dividend of Rs 14 per share. The record date for the purpose of determining the entitlement for payment of the interim dividend is fixed as October 29, 2020. HUL’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter came at Rs 2,869 crore, which registered a 17 per cent on-year growth. Read more

Vedanta Resources CFR under review for downgrade: Moody's

Tuesday, October 20, 2020
Moody's Investors Service placed Vedanta Resources Limited's B1 corporate family rating (CFR) under review for downgrade today(20th Oct.2020). Concurrently, Moody's has placed under review for downgrade the B3 ratings on the senior unsecured bonds issued by Vedanta and those issued by its wholly-owned subsidiary, Vedanta Resources Finance II Plc, and guaranteed by Vedanta, affecting $4.2 billion in outstanding debt. The rating outlook was changed to ratings under review from negative. "The review follows an increase in refinancing risk and significant funding needs at the holding company level, following Vedanta Resources' failure to acquire the balance shareholding in key subsidiary Vedanta Limited that would have improved access to group cash," the report Kaustubh Chaubal, a Moody's vice president and senior credit officer as saying. Read more

Closing Bell:Sensex gains 112 points, Nifty at 11896.80

Tuesday, October 20, 2020
At close, the Sensex was up 112.77 points or 0.28% at 40544.37, and the Nifty was up 23.80 points or 0.20% at 11896.80. IndusInd Bank, Reliance Industries, HCL Tech, LT, Tech Mahindra, Asian Paints and Hindustan Unilever were top Sensex gainers. While losers included Britannia Industries, ONGC, GAIL, IOC and UPL.About 1344 shares have advanced, 1299 shares declined, and 157 shares are unchanged. Nifty IT gained nearly 1.5 per cent followed by Pharma and auto, while Nifty PSU Bank slipped around 1.5 per cent. The BSE MidCap index ended 0.47 per cent higher at 14,775 levels while the BSE SmallCap index ended at 14,896, up 0.3 per cent. Energy, FMCG, metal and PSU bank indices closed in the red.

MARKET UPDATE:Sensex hovered around 40,530 levels,up 100 points and Nifty reclaimed the 11,900 level

Tuesday, October 20, 2020
The markets in India were up marginally today(20th October 2020) in a volatile session, amid weak global cues. The S&P BSE Sensex hovered around 40,530 levels, up 100 points and the Nifty50 reclaimed the 11,900 level. HCL Tech (up 2%), TCS, and Tech Mahindra (both up 1%) were the top Sensex gainers. On the other hand, Axis Bank, Kotak Mahindra Bank, State Bank of India, and ICICI Bank (all down 1%) were the top Sensex drags. Meanwhile, Britannia Industries slipped over 4 percent despite posting a healthy 23 percent increase in net profit for the September quarter at Rs 495 crore as compared to the corresponding quarter a year ago. The Nifty sectoral indices were trading mixed, with the Nifty PSU Bank index, down 1 percent. In the broader market, the S&P BSE MidCap index was flat while the SmallCap index gained 0.2 percent. Read more

HDFC Bank shares gain after strong Q2 results

Monday, October 19, 2020
HDFC Bank shares gained 2.5 per cent to Rs 1,235 apiece on the BSE on Monday after the bank reported a healthy September quarter (Q2FY21) results. The bank reported an 18.4% on-year jump in net profit to Rs 7,513 crore compared to a net profit of Rs 6,344.9 crore in the quarter ended September 2019. The lender reported profit growth of 19.58 per cent in June and 17.71 per cent in the March quarter. It had posted a net profit of Rs 6,658.6 crore in the first quarter ended in June 2020. The lender reported a 17% year-on-year growth in its net interest income to Rs 15,774.4 crore in Q2FY21 from Rs 13,515 crore in Q2FY20. On the asset quality front, gross non-performing assets stood at 1.08% from 1.36% last quarter while net non-performing assets stood at 0.17% from 0.33% in the previous quarter. Provisions saw a decline of 5% quarter-on-quarter to Rs 3,704 crore. Read more

Major factors behind today's stock market rally

Monday, October 19, 2020
Today( 19th Oct 2020) almost all Sensex stocks opened higher on as investors went all out to buy amid renewed hopes of an early economic stimulus package from the US and a vaccine by year-end. In the last 12 sessions, bluechip indices have closed in the red for just one session, which outlines the one-way rally the the market has seen. HDFC twins were the biggest positive contributors during the first hours of the day. PSU stocks also saw some buying and were among the top gainers. "Nifty has good support at 11,650 and until we do not break that, we are in positive territory. The resistance on the the upside is at 12,050. If we are unable to move past either level convincingly, we would be range-bound and trading in this zone should be avoided. Stocks that look interesting for an up move include Axis Bank, HDFC Bank, and Tata Steel," experts opinied.Some of the key factors for the rally are Read more

Closing Bell:Sensex gains 448 points, Nifty at 11873.05

Monday, October 19, 2020
At close, the Sensex was up 448.62 points or 1.12% at 40431.60, and the Nifty was up 110.50 points or 0.94% at 11873 for the second straight day on Monday, mainly lifted by bank stocks. ICICI Bank was the top Sensex gainer, followed by Axis Bank, Nestle India, State Bank of India (SBI), HDFC, IndusInd Bank and HUL.On the contrary, Bajaj Auto and TCS were the top Sensex loser. Tech Mahindra, Sun Pharma, Maruti Suzuki and Infosys were among other Sensex losers. About 1470 shares have advanced, 1150 shares declined, and 148 shares are unchanged. Nifty PSU Bank index was top sectoral gainer, up 4.17 per cent, While Nifty Pharma index fell 1.67 per cent.BSE MidCap index up 0.58 per cent while the BSE SmallCap index up 0.43 per cent. Among sectors, except pharma, IT and auto other indices ended in the green

MARKET UPDATE:Sensex up by 350 points to 40,330 levels and Nifty topped the 11,850-mark

Monday, October 19, 2020
The Indian equity markets started today (19th October 2020) on a strong footing, with the benchmark indices rising nearly one percent, amid positive cues from Asian indices. Among headline indices, the S&P BSE Sensex gained 350 points, or 0.88 percent, to 40,330 levels and the Nifty50 index topped the 11,850-mark. HDFC Bank rose as much as 3 percent after reporting a healthy set of September quarter results. Besides, ONGC (up 4%), ICICI Bank, and HDFC (both up 2%) were the other top Sensex gainers. The majority of the Nifty sectoral indices were trading in the green, led by the Nifty Financial Service index, up 1.3 percent In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 0.4 and 0.5 percent higher, each. Twenty-one companies including ACC, Britannia Industries, and HDFC Life are set to report their quarterly earnings today.

HCL Tech Q2 profit rises 18.5% to Rs 3,142 crore, share price falls post Q2 result

Friday, October 16, 2020
HCL Technologies share price fell 4.4 % to Rs 821 apiece on BSE after the IT company announced July-September quarter results. HCL Tech Q2 net profit came at Rs 3,142 crore in July-September quarter, rising 18.5 per cent year on year and up 7.4 per cent on a sequential basis. The company had posted a net profit of Rs 2,651 crore in the corresponding period of the last year. Revenue for the quarter rose 6.1 per cent YoY to Rs 18,594 crore compared with Rs 17,528 crore sales the company reported in the year-ago quarter. The operating margin of the IT services provider improved 110 basis points sequentially to 21.6 per cent in the July-September period—a 22-quarter high. The dollar revenue growth stood at 6.4% at 2,507 million and the company posted constant currency revenue growth at 4.5 per cent. The company has also declared an interim dividend of Rs 4 per equity share of Rs 2 each for FY21. The company has signed 15 transformational deals in the quarter ended September 2020 Read more

Modi govt's farm reforms could turn India into a food-export powerhouse

Friday, October 16, 2020
The recent laws by Modi Govt to liberalise farm sales could turn out to be the most far-reaching. In a fractious and unruly session last month, parliament passed three laws that some say could pave the way for India to upend the global food trade, while others fear it will wreck the livelihoods of millions of farmers. Within days, rural groups and opposition leaders launched public protests. The move toward a free market for farm sales goes to the heart of a system that directly affects more than half of the nation’s 1.37 billion people, altering government controls that millions of families have come to rely on, but that have hobbled the nation’s efforts to productively farm one of the largest areas of fertile land on earth. If they succeed, India could not only feed itself but become a major food exporter. Read more

Closing Bell:Sensex gains 254 points, Nifty at 11762.45

Friday, October 16, 2020
At close, the Sensex was up 254.57 points or 0.64% at 39982.98, and the Nifty was up 82.10 points or 0.70% at 11762.50 on healthy buying in the financial counters. Tata Steel was the top Sensex gainer, followed by HDFC Bank, UltraTech Cement, Power Grid Corporation of India, ONGC, Kotak Mahindra Bank and Infosys. On the other side, HCL Tech shares were the top loser, followed by M&M, Reliance Industries (RIL), Asian Paints and Sun Pharma. About 1459 shares have advanced, 1135 shares declined, and 171 shares are unchanged. Barring Nifty IT and Nifty Media indices, all the sectoral indices ended in the positive territory today. Nifty Bank index too gained 2 per cent.BSE Midcap and Smallcap indices rose 1 per cent each. India VIX declined nearly 2 per cent to 21.64 levels.

Christopher Wood hiked allocation to Indian equities in his Asia Pacific relative-return portfolio

Friday, October 16, 2020
Christopher Wood, global head (equity strategy) at Jefferies in his latest note to investors, said that he has hiked allocation to Indian equities in his Asia Pacific ex-Japan relative-return portfolio by one percentage point and added two percentage points to the existing investment in HDFC in the Asia ex-Japan long-only portfolio. At 2x 12-month forward adjusted book, compared with a five-year average forward price-to-book ratio (P/BV) of 2.6x, Wood feels HDFC’s valuation remains attractive. Among Indian stocks, besides HDFC, Wood also holds Reliance Industries (RIL), Maruti Suzuki, SBI Life Insurance, ICICI Lombard General Insurance, DLF, and Cipla in his Asia ex-Japan thematic equity portfolio for long-only absolute-return investors. Read more

MARKET UPDATE:Sensex rose 350 points to 40,080 levels and Nifty reclaimed the 11,750-mark

Friday, October 16, 2020
Markets in India were steady and trading nearly a percent higher today morning(16th October 2020). Among headline indices, the S&P BSE Sensex rose 350 points, or 0.9 percent, to 40,080 levels and the Nifty50 index reclaimed the 11,750-mark. IndusInd Bank and Infosys (up 2% each) were the top Sensex gainers, followed by Tata Steel and HDFC Bank (both up 1%). Meanwhile, HCL Tech slipped over 4 percent after the announcement of its September quarter results. All the Nifty sectoral indices were trading in the green, led by Nifty IT and Nifty Bank indexes, both up 1 percent, each. In the broader market, the S&P BSE MidCap and SmallCap indices were both up half a percent, each. Six companies, including Bajaj Consumer Care, and Federal Bank are scheduled to announce their quarterly earnings today.

Tata Exlsi shares gains 5 percent on strong September quarter earnings

Thursday, October 15, 2020
Shares of design and technology services provider Tata Elxsi on Thursday rose by over 5 per cent and hit a record high of Rs 1,533.55 on the BSE in early trade on the stock exchange after the company reported a 58.3 per cent increase in net profit to Rs 78.8 crore for the September quarter. It had reported a net profit of Rs 49.8 crore in the year-ago period, The company's operational revenues grew 11.5 per cent YoY at Rs 430 crore from Rs 385.8 crore in the corresponding period a year ago. The company’s growth was driven by both its key businesses – Embedded Product Design (EPD) and Industrial Design & Visualisation (IDV). Read more

Key factors that dragged the markets lower

Thursday, October 15, 2020
Snapping its ten-day gaining streak, the Indian stock market came under selling pressure today amid weak global cues and profit-booking in recent outperformers such as RIL and information technology (IT) counters. Bluechip indices have rallied for 10 straight days, the biggest rally in 13 years, and have shown signs of fatigue in the last few days. Analysts expect volatility to remain and suggest cautious stock picking. India VIX, the measure of volatility, spiked over 9 percent. Equity investors lost Rs 3.3 lakh crore in the Thursday session as the total market cap of BSE-listed companies slid to Rs 157.22 lakh crore. Why the fall? 1. Early stimulus hopes fade: US Treasury Secretary Steve Mnuchin said he and House of Representatives Speaker Nancy Pelosi were "far apart" on another coronavirus economic relief package, and that a deal would be hard to reach before the November 3 elections. Read more

Closing Bell:Sensex down1066 points, Nifty at 11680.35

Thursday, October 15, 2020
At close, the Sensex was down 1,066.33 points or 2.61% at 39728.41, and the Nifty was down 290.60 points or 2.43% at 11680.40 as governments across Europe tightened restrictions to battle an accelerating second wave of Covid-19 infections. Asian Paints, Coal India Hero MotoCorp and JSW Steel were among major gainers on the Nifty, while losers were Bajaj Finance, Tech Mahindra, IndusInd Bank, ICICI Bank and SBI. About 802 shares have advanced, 1797 shares declined, and 145 shares are unchanged. The volatility index jumped over 9 per cent to 22.05 levels. BSE MidCap index slipped 1.75 per cent and the BSE SmallCap index fell 1.45 per cent.

MARKET UPDATE:Sensex down 90 points around 40,700 levels and Nifty hovered around 11,950

Thursday, October 15, 2020
The benchmark indices in India were trading lower today(15th October 2020) after quickly giving up the opening gains. The S&P BSE Sensex was trading around 40,700 levels, down 90 points, and the Nifty50 hovered around 11,950. Infosys gained 4 percent after delivering a healthy set of numbers in the second quarter of FY21. Besides, Tata Steel (up 2%), ONGC, and NTPC (both up 1%) were the other top Sensex gainers. The trend among the Nifty sectoral indices was mixed, with the Nifty Bank index, down 0.7 percent, leading the list of losers. In the broader market, the S&P BSE MidCap and SmallCap indices were both up 0.2 percent, each. Oil and gas pipeline infrastructure service provider Likhitha Infrastructure will list its shares on bourses today, with the final issue price fixed at Rs 120 per share. Overall, the issue was subscribed to 9.51 times, and analysts expect the issue to see a muted listing. Read more

Chasing market momentum has pitfalls

Wednesday, October 14, 2020
Trying to chase market momentum many a time, end up burning your fingers. That is exactly what has just happened to small investors in at least nine BSE500 stocks. Retail investors, defined as those investing up to Rs 2 lakh in the shares in a company, bought so much into those nine companies during the September quarter that their combined stake in them rose by 200-700 basis points in three months. A 28-115 percent rally on such of these stocks in the June quarter seems to have drawn the investors to these counters. None of the stocks has delivered positive returns since June 30. Data showed small retail investors hiked stakes in Indiabulls Housing Finance by 432 basis points to 16.02 percent in September quarter from 11.7 percent in June quarter, following a 115 percent rally on the stock in June quarter. But the stock is down 27 percent since then. Read more

SBI Card share price hits fresh 52-week high on festive season offers, stock up 4%

Wednesday, October 14, 2020
Shares of SBI Cards and Payments gained 4 per cent and hit a new high of Rs 892 on the BSE on Wednesday in an otherwise weak market. The company said it has kick-started festive season offers in line with the changing shopping trends and customers will be offered discounts as well as cashback across a host of brands. With over 1,000 offers across 2,000 cities, SBI Card aspires to bring customers rewarding shopping experience on their festive season purchases, The festive offers that started from Oct.1 will run till Nov. 15, 2020. Offers are available nationally across marquee brands such as Amazon, Brand Factory, Croma, Caratlane, Fabindia, FirstCry, Grofers, Home centre, Samsung Mobile, Lloyds, More Hypermarket, More Supermarket, Pantaloons and Tata Cliq. Read more

Closing Bell:Sensex gains 169.23 points, Nifty at 11971.05

Wednesday, October 14, 2020
At Close, the Sensex was up 169.23 points or 0.42% at 40794.74, and the Nifty was up 36.50 points or 0.31% at 11971 for the 10th straight day. Bajaj Finserv and Bajaj Finance were the top index gainers, followed by ICICI Bank, IndusInd Bank, and Tata Steel. On the other hand, NTPC, ONGC, and Tech Mahindra were the top losers. About 1202 shares have advanced, 1439 shares declined, and 160 shares are unchanged. India VIX slipped nearly 2.5 per cent to 20.21 levels. Among sectors, except the bank, FMCG and metal other indices ended in the red. BSE Smallcap Index ended marginally lower and Midcap index gained 0.5 per cent.

Indian economy to bounce back with 8.8% growth in 2021 after contracting by 10.3% in 2020

Wednesday, October 14, 2020
The International Monetary Fund (IMF) yesterday (13th October 2020) slashed the growth forecast for India saying that the country’s economy will contract 10.3% in FY21, the third steepest decline after Spain and Italy, and the sharpest fall among emerging markets and developing countries. This is the second downgrade for India by IMF after it reversed its forecast of 1.9% growth in April to a 4.5% contraction in June for 2020-21. The economies of Spain and Italy are seen shrinking by 12.8% and 10.6%, respectively. IMF’s forecast for the Indian economy is gloomier than the Reserve Bank of India’s projection of a 9.5% contraction in the real gross domestic product (GDP) in the full fiscal. The economy shrank an unprecedented 23.9% in the June quarter. Last week, the World Bank said the situation in India is worse than ever, forecasting the country’s economy will shrink 9.6% in FY21, much steeper than the 3.2% fall estimated by IMF in June. Read more

MARKET UPDATE:Sensex dipped 100 points to 40,520 levels and the Nifty hovered around 11,900 levels

Wednesday, October 14, 2020
The markets in India were trading with slight cuts on today(14th October 2020), in line with the trend in Asian indices, ahead of the Supreme Court hearing on a batch of petitions seeking a waiver of interest on loans during the moratorium period. Among the headline indices, the S&P BSE Sensex dipped 100 points to 40,520 levels and the Nifty50 index hovered around 11,900 levels. ONGC, PowerGrid, NTPC, and IndusInd Bank (all down 1 percent) were the top Sensex laggards. On the other hand, Tata Steel gained 1 percent. Wipro slipped 5 percent despite improving its performance in the second quarter of FY21 on several parameters. Karnataka Bank, on the other hand, rose 5 percent after announcing its September quarter results. Sixteen companies including Infosys, Tata Elxsi, and Den Networks are scheduled to declare their September quarter earnings today. Infosys is expected to report a strong set of numbers for the quarter, mainly led by the ramp-up of large deal wins.

Wipro announces ₹9,500 crore buyback plan at ₹400 per share,Profit Rises 3% In September Quarter

Tuesday, October 13, 2020
Wipro, the fourth largest Bangalore based IT services company in India, has reported a 3.2 per cent sequential growth in consolidated profit for the quarter ended September 2020, and also announced a share buyback of Rs 9,500 crore. Consolidated profit increased to Rs 2,465.7 crore for the quarter, compared to Rs 2,390.4 crore in the previous quarter. Wipro's gross revenue rose 1.4 per cent sequentially to ₹ 15,110 crores and revenue from IT services increased 3.7 per cent to $1,992.4 million. Wipro will buy back 23.75 crore shares or 4.16 per cent of the total paid-up capital. at ₹ 400 per equity share, the company said in a press release. The record date of the said buyback was not fixed. Wipro also announced that the company entered into a definitive agreement to acquire Eximius Design India private Limited, an engineering services company with expertise in semiconductor, software and systems design for a total consideration of about ₹100 crores. Read more

Infosys m-cap nears Rs 5-trillion

Tuesday, October 13, 2020
Infosys shares hit a fresh record high of Rs 1,164.70, up 3 percent on the BSE today(13th October 2020), on the expectation that the company may raise its FY21 revenue growth guidance while announcing its July-September quarter (Q2FY21) results in tomorrow. The information technology (IT) bellwether is set to become the fifth company to touch market capitalisation of Rs 5-trillion. At 02:46 pm, the market capitalisation (market-cap) of Infosys stood at Rs 4.95 trillion, 1 percent away from the Rs 5-trillion mark. Currently, Reliance Industries leads the pack with Rs 15.4 trillion market cap, followed by Tata Consultancy Services (Rs 10.61 trillion), HDFC Bank (Rs 6.6 trillion), and Hindustan Unilever (Rs 5.02 trillion), BSE data shows. Read more

Closing Bell:Sensex gains 32 points, Nifty at 11934.50

Tuesday, October 13, 2020
At close, the Sensex was up 31.71 points or 0.08% at 40625.51, and the Nifty was up 3.50 points or 0.03% at 11934.50. IT majors HCL Tech and Infosys were the top index gainers followed by Kotak Mahindra Bank and Reliance Industries Limited. Titan, Sun Pharma, and ICICI Bank, SBI and Bajaj Finance were the top losers. About 1129 shares have advanced, 1459 shares declined, and 177 shares are unchanged. Nifty PSU Bank index, down 1.4 per cent. On the sectoral front, buying seen in the energy, IT, metal, while selling witnessed in the auto, bank, FMCG and pharma indices.

Jio and Airtel ring in active vs inactive subscriber battle

Tuesday, October 13, 2020
Reliance Jio’s falling share of active customers or Visitor Location Register (VLR), against Bharti Airtel's growing numbers, is now a highly discussed point in telecom circles. VLR denotes subscribers who are active on the network, can send or receive calls, don’t have their mobile switched off, and are not outside the coverage area. For some investors and analysts, Reliance Jio’s lower figure is definitely concerning, according to sources. According to the Telecom Regulatory Authority of India (Trai) data for June released last month, Reliance Jio and Airtel had more or less the same number of VLRs (311 million). But a huge difference was spotted between the two rivals in their respective percentage share of active customers to their total subscriber base. This includes active and inactive customers and is also known as the Home Location Register (HLR). The percentage is known as the VLR ratio. Read more

MARKET UPDATE:Sensex down 30 points around 40,550 levels and Nifty hovered around 11,900-mark

Tuesday, October 13, 2020
The markets in India were trading flat with a negative bias today(13th October 2020) ahead of the Supreme Court's hearing on a batch of petitions seeking a waiver of interest on loans during the moratorium period. Among headline indices, the S&P BSE Sensex was trading around 40,550 levels, down 30 points, and the Nifty50 index hovered around 11,900-mark. ICICI Bank, IndusInd Bank, and Axis Bank (all down 1%) were the top Sensex laggards. On the other hand, Bharti Airtel gained 2 percent after Trai's released the subscription data for July. Ultratech Cement and Tata Steel were also up 1 percent each. The trend among Nifty sectoral indices was mixed, with the Nifty Private Bank index, down 0.9 percent, leading the list of losers. Read more

Nirmala Sitharaman's consumption boost of Rs 1 lakh crore to Indian Economy

Monday, October 12, 2020
FM Nirmala Sitharaman today (12th Oct.2020) announced measures to stimulate consumer spending and capital expenditure that would generate demand of Rs 1 lakh crore, including the private sector, and in turn, help the growth of gross domestic product (GDP). A leave travel concession (LTC) cash voucher scheme and special festive advance scheme for government employees are expected to generate additional consumer demand of Rs 36,000 crore, the government said, pegging the numbers on conservative estimates. Capital expenditure by Centre and states is likely to generate demand of about Rs 37,000 crore. “Given that private-sector spending through LTC tax benefit would be at least Rs 28,000 crore, we estimate total demand boost due to today's measures to be more than Rs 1 lakh crore,” Sitharaman said, after elaborating on the measures. Read more

Nirmala Sitharaman announces Special Festival Advance and LTC cash voucher to government employees

Monday, October 12, 2020
The Finance Minister announced LTC cash voucher scheme ahead of the festive season to boost demand. Additionally, Sitharaman has also announced a one-time Rs 10,000 interest-free festival advance for central government employees through the Special Festival Advance Scheme to increase consumer spending to spur demand in the economy. As part of the announcement, central government employees who get Leave Travel Concession (LTC) for their travels will get an equivalent of the amount even without travelling. They could use the allowance to make purchases of their choice. This will apply to the purchase of goods that attract 12 per cent GST or more and can be spent on buying goods worth three times the fare and equal to the cash encashment. The spending will have to be done by digital mode only. Read more

Closing Bell:Sensex gains 84 points, Nifty at 11930.95

Monday, October 12, 2020
At close, the Sensex was up 84.31 points or 0.21% at 40593.80, and the Nifty was up 16.80 points or 0.14% at 11931 for 8th straight day. ITC, State Bank of India, and Power Grid were the top Sensex gainers. While Tata Steel, ONGC, HDFC Bank, Bharti Airtel and Titan were top losers. About 927 shares have advanced, 1713 shares declined, and 184 shares are unchanged. Among sectors, except IT and pharma other sectoral indices ended in the red.BSE Midcap was trading with losses while BSE Smallcap was trading flat with a positive bias.

MARKET UPDATE:Sensex gained 300 points to 40,860 levels, and the Nifty reclaimed the level of 12,000

Monday, October 12, 2020
The markets in India rose nearly one percent today(12th October 2020), ahead of the press conference of Finance Minister Nirmala Sitharaman on economic issues at 12:30 pm today. Among headline indices, the S&P BSE Sensex gained 300 points to 40,860 levels, and the Nifty50 index reclaimed the psychological level of 12,000 for the first time since February 24, 2020. Axis Bank, State Bank of India, ITC, and HDFC (all up 2%) were the top Sensex gainers. On the other hand, shares of Vedanta hit 10 percent lower circuit after the company failed to receive the required number of shares to delist Vedanta Limited. The trend among Nifty sectoral indices was mixed, with the Nifty Bank index, up 1 percent, leading the list of gainers. The broader market continued to underperform, with the S&P BSE MidCap and SmallCap indexes trading 0.3 percent higher, each. Read more

BOT highway projects: Govt targets bidding out six projects by April 2022

Saturday, October 10, 2020
The government is reviving the build-operate-transfer (BOT) model of getting private investment into highway construction after a gap of more than two years. The government is targeting to bid out six projects by April 2022. The first project to go off the block would be around 70 km, costing over Rs 1,700 crore, in Karnataka. The National Highways Authority of India (NHAI) is expected to invite bids for it later this month. The Karnataka project would be the first BOT offering after the government brought in the new model concessionaire agreement in order to attract private investment. The last BOT project – Hapur-Moradabad highway – was awarded in March 2018 to IRB Infrastructure Developers for approximately Rs 3,400 crore, according to sources.

BSE listed companies' market-cap hits record high

Friday, October 9, 2020
The total market capitalisation of BSE-listed companies touched a new high of Rs 160.68 trillion today(9th Oct.2020), led by RIL, information technology (IT), and pharmaceutical stocks. Investor wealth of BSE-listed firms, measured by market capitalisation (m-cap), saw a previous record high of Rs 160.57 trillion, scaled on January 17, 2020. At 02:40 pm, the benchmark S&P BSE Sensex traded at 40,526 points. The index is just 4 percent away from its all-time high level of 42,273.87, touched on January 20, 2020. The S&P BS Sensex, however, ended the day at 40,509 levels - up 327 points, 0.8 percent. On the other hand, the S&P BSE Midcap and the S&P BSE Smallcap index are over 20 percent away from their respective record high levels hit during January 2018.

Update on Vedanta delisting

Friday, October 9, 2020
The metals major is about to close a 5-day reverse book building process today (Oct. 9) in which public shareholders have already tendered 137.1 crores of the total 169.73 crore shares held by them, against the minimum requirement of 134 crore shares taking the promoter shareholding to above the 90% threshold required for a successful delisting. Shares of the company closed 3.83 per cent higher at Rs 122.10 on Friday, Of the 137 crore shares, more than 69 crore shares tendered up to Rs 155 per share, 21 crore at Rs 160 per share and 31.80 crore at Rs 320 per share. The Bombay Stock Exchange has extended the bidding till 7 pm today as some of the retail shareholders reportedly faced trouble in tendering shares. The discovered price on account of the reverse book building process will be announced soon. It is the price at which the promoter shareholding reaches 90% of the total issued and paid-up equity share capital of the company. Read more

RBI keeps policy rates unchanged and will run 'accommodative' stance

Friday, October 9, 2020
The monetary policy committee (MPC) of the Reserve Bank of India (RBI) kept policy rates unchanged, and the governor assured that the worst was possibly over for the economy and it can now hope for a steady recovery towards pre-pandemic growth rates. The newly-appointed six-member MPC voted unanimously to keep the policy repo rate at 4 percent, and said the real gross domestic product (GDP) growth rate in 2020-21 could be a negative 9.5 percent, with “risks tilted to the downside.” The stance of the policy would remain “accommodative,” for “as long as necessary – at least during the current financial year and into the next year – to revive growth on a durable basis and mitigate the impact of Covid-19 while ensuring that inflation remains within the target going forward,” RBI governor Shaktikanta Das in his streamed monetary policy address today(9th Oct.2020) morning. Read more

Closing Bell:Sensex gains 326 points, Nifty at 11914.20

Friday, October 9, 2020
At close, the Sensex was up 326.82 points or 0.81% at 40509.49, and the Nifty was up 79.60 points or 0.67% at 11914.20 for the seventh-day post-RBI MPC meet. Axis Bank, State Bank of India, HDFC Bank, L&T, ONGC and IndusInd Bank were among other gainers. On the flip side, Sun Pharma, Asian Paint, Nestle India, UltraTech Cement, Tata Steel were top Sensex losers. About 1216 shares have advanced, 1426 shares declined, and 164 shares are unchanged. Nifty PSU Bank index jumped over 3 per cent, followed by Nifty Financial Services and Nifty IT indices. Among sectors, bank, infra, IT indices ended in the green, while selling witnessed in the FMCG, auto, metal and pharma indices.

MARKET UPDATE:Sensex dipped 50 points to 40,140 levels and the hovered around 11,850-mark

Friday, October 9, 2020
In Indian markets, the benchmark indices fluctuated between gains and losses today(9th Oct.2020) as RBI Governor Shaktikanta Das began the monetary policy address. The S&P BSE Sensex dipped 50 points to 40,140 levels after earlier rising to 40,320 levels. The Nifty50 index, meanwhile, hovered around 11,850-mark. Tata Steel (up 2%), Bharti Airtel, Larsen & Toubro, and Mahindra & Mahindra (all up 1%) were the top Sensex gainers. On the other hand, TCS and Reliance Industries slipped 0.7 percent, each. Besides, Lakshmi Vilas Bank surged 15 percent after the bank received an indicative non-binding offer from the Clix Group. The Nifty sectoral indices were trading largely in the green, led by the Nifty Metal index, up 1 percent. In the broader market, the S&P BSE MidCap and SmallCap indices were trading 0.3 percent, each. Five companies including Rashtriya Chemicals & Fertilizers, and Steel Strips Wheels are scheduled to announce their quarterly earnings today.

Infosys to acquire Blue Acorn iCi for up to $125M

Thursday, October 8, 2020
IT major Infosys said on Thursday that it will acquire US-based analytics company Blue Acorn iCi for up to $125 million. In a regulatory filing, Infosys said that the move further strengthens its end-to-end customer experience offerings and demonstrates its continued commitment to helping clients navigate their digital transformation journey. Blue Acorn iCi brings to Infosys significant cross-technology capabilities through the convergence of customer experience, digital commerce, analytics, and experience-driven commerce services, it said. It also said that the cost of acquisition would be up to $125 million including management incentives and bonuses. The acquisition is expected to close during the third quarter of FY 2021, subject to customary closing conditions."The Blue Acorn iCi acquisition is another important turning point in Infosys' journey to build capabilities relevant to the digital importance of our clients and assert our commitment to the Adobe ecosystem. Read more

Closing Bell: Sensex jumps over 304 points for the 6th Day, Nifty closes at 11834.60

Thursday, October 8, 2020
At close, the Sensex was up 303.72 points or 0.76% at 40182.67, and the Nifty was up 95.70 points or 0.82% at 11834.60. Tata Consultancy Services was top Sensex gainer, followed by HCL Tech, Infosys, Tech Mahindra, HDFC Bank, UltraTech Cement, Bharti Airtel, SBI, Sun Pharma, Tata Steel and HUL.On the flip side, ONGC was top Sensex loser, followed by Reliance Industries Ltd (RIL), Asian Paints, ITC, Bajaj Auto, Power Grid Corporation of India and Titan Company. About 1215 shares have advanced, 1419 shares declined, and 159 shares are unchanged. Nifty IT index, up 4 per cent followed by the pharma and bank, while selling seen in the energy and FMCG stocks. The S&P BSE MidCap and SmallCap index were both trading half a per cent higher.

MARKET UPDATE:Sensex up 400 points to 40,300 levels and the Nifty testing the 11,850-mark

Thursday, October 8, 2020
The markets in India started today's(8th October 2020) session on a strong footing, up 1 per cent, with major contribution from IT stocks. The S&P BSE Sensex was up 400 points to 40,300 levels and the Nifty50 index was testing the 11,850-mark. TCS gained 4 per cent after exceeding analysts' expectations on all fronts in its September quarter earnings. Wipro was also up 4 per cent after announcing that it will consider share buyback programme. Besides, Infosys and Tech Mahindra also gained 3 per cent and 2 per cent each, respectively. All the Nifty sectoral indices were trading in the green, led by Nifty IT index, up 3 per cent. In the broader market, the S&P BSE MidCap and SmallCap index were both trading half a per cent higher. seven companies including 5paisa Capital, GM Breweries, and Prabhat Dairy are scheduled to announce their September quarter earnings today.

RRVL likely to divest only 10-15% stake

Wednesday, October 7, 2020
Reliance Retail Ventures (RRVL) is expected to divest only a small stake of 10-15 percent in its retail holding company, the proceeds of which will be used to fund acquisitions such as the retail and wholesale business of Future Group and others. As part of its initial and ongoing fund-raising exercise, RRVL has already divested an 8.48 percent stake to a bevy of private equity funds for Rs 37,710 crore. The 10-15-per cent divestment, say sources, will not include strategic investors but only private equity (PE) and sovereign funds. The strategy, according to these sources, is clearly different from the massive fund-raising exercise it undertook in Jio Platforms, where it sold 32.97 percent stake to a clutch of 13 investors for Rs 152,055 crore.

Centre approves 16 proposals to fetch Rs 11,000-crore additional investments in electronics manufacturing

Wednesday, October 7, 2020
The Centre yesterday(6thOct.2020) approved 16 proposals from marquee brands, including makers of Apple devices, under two new flagship schemes, in a move expected to fetch Rs 11,000-crore additional investments in local electronics manufacturing. In turn, this would imply production worth Rs 10.5 trillion over the next five years, giving a fillip to Prime Minister Narendra Modi’s Make in India and Atma Nirbhar Bharat schemes. A statement issued by the Ministry of Electronics and Information Technology said that of the total, Rs 6.5 trillion worth of electronic goods will be exported by 2025 under the Production Linked Incentive (PLI) plan. Read more

Closing Bell:Sensex gains 304 points for 5th day, Nifty at 11738.85

Wednesday, October 7, 2020
At close, the Sensex was up 304.38 points or 0.77% at 39,878.95, and the Nifty was up 76.50 points or 0.66% at 11,738.90. Top BSE Sensex gainers include ONGC, Maruti Suzuki, Reliance Industries Ltd, Hindustan Unilever, TCS, Nestle India, Titan Company, Bajaj-Auto. Bajaj Finance was the top loser, followed by Bajaj Finsv, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, HDFC, Axis Bank and SBI. About 1040 shares have advanced, 1584 shares declined, and 200 shares are unchanged. Nifty Financial Services index was down 0.84 per cent, Nifty Private Bank index fell 0.80 per cent while the Nifty Metal index dropped half a per cent. While Nifty FMCG index was up 0.75 per cent.BSE Midcap and Smallcap indices ended lower. On the sectoral front, auto, infra, IT and FMCG indices ended in the green, while selling witnessed in the metal, pharma and energy sectors.

MARKET UPDATE:Sensex dipped 80 points at 39,500 levels and the Nifty hovered below the 11,650-mark

Wednesday, October 7, 2020
The markets in India opened flat with a negative bias today(7th October 2020), amid mixed cues from other Asian markets. Among the headline indices, the S&P BSE Sensex dipped 80 points at 39,500 levels and the Nifty50 index hovered below the 11,650-mark. Bajaj Finance dipped 3 percent and was the top Sensex drag after it gave a business update for the quarter ended September 2020. Besides, IndusInd Bank and Bajaj Finserv also slipped 2 percent each. On the other hand, Reliance Industries gained 1 percent after announcing that the Abu Dhabi Investment Authority would invest Rs 5,512 crore into Reliance Retail Ventures for a 1.2-per cent stake. TCS was also trading 1 percent higher ahead of its September quarter results announcement. The trend among Nifty sectoral indices was largely negative, led by the Nifty Private Bank index, down 1 percent. Read more

Tata Motors share price rallies more than 8% as JLR's Q2 sales grow 53% QoQ

Tuesday, October 6, 2020
Shares of Tata Motors jumped more than 8 per cent to Rs 145.7 on the BSE on Tuesday after Jaguar Land Rover's retail sales in the September quarter grew over 50 per cent from sales in the previous quarter. Retail sales for the quarter ended September 30 were 1.13 lakh units, up 53. 33 per cent from 74,067 units sold in the previous quarter. The automaker on October 1 reported a 5.09 per cent increase in total sales to 1,10,379 units in the second quarter of the current fiscal. The company sold 1,05,031 vehicles in the same period last fiscal. In an exchange filing, Tata Motors said that Jaguar Land Rover retail sales for the three-month period to 30 September 2020 were significantly improved from sales in the preceding quarter but continue to be impacted by Covid-19. Retail sales were still down 11.9 per cent from pre-COVID levels a year ago, the company said. Read more

Closing Bell: Sensex gains 600 points, Nifty at 11662.40

Tuesday, October 6, 2020
At close, the Sensex was up 600.87 points or 1.54% at 39574.57, and the Nifty was up 159 points or 1.38% at 11662.40 lifted mainly by bank and auto stocks.HDFC was the top Sensex gainer, followed by IndusInd Bank, M&M, HDFC Bank, Asian Paints, Bajaj Finance and ICICI Bank. Tata Steel shares fell the most, followed by Nestle India, L&T, NTPC, Bharti Airtel, Reliance Industries (RIL) and Infosys. About 1488 shares have advanced, 1165 shares declined, and 159 shares are unchanged. Nifty Bank index gained 2.01 per cent and Nifty Financial Services was up 2.80 per cent. The BSE MidCap gained 0.70 per cent, while the BSE SmallCap index was up 0.60 per cent. Barring Nifty FMCG index, Nifty Metal index, pharma and energy all the sectoral indices were trading in positive territory.

external members of RBI'S monetary policy committee appointed

Tuesday, October 6, 2020
The government has appointed Jayanth Varma who is a professor in the Indian Institute of Management, Ahmedabad, Ashima Goyal, member of the Economic Advisory Council of Prime Minister, and Shashanka Bhide, senior advisor at National Council for Applied Economic Research as external members of the Reserve Bank of India's monetary policy committee. 1. Jayanth Varma is a known expert in financial markets. He is currently a professor at the Indian Institute of Management (IIM), Ahmedabad, and teaches courses in the capital market, fixed income, alternative investment, and corporate finance. He has been the dean of IIM for three years. Prior to this, he was a full-time member of the market regulator Securities Exchange Board of India for a year. This is after completing his three years stint at Sebi as a part-time member. Prof. Varma, who is also a qualified cost accountant awarded a gold medal for scholastic performance from the IIM. Read more

MARKET UPDATE:Sensex gained 300 points to 39,270 levels and the Nifty reclaimed the 11,600 mark

Tuesday, October 6, 2020
Markets in India rose over half a percent in today's(6th October 2020) early deals, on firm global cues. The S&P BSE Sensex gained 300 points to 39,270 levels and the Nifty50 index reclaimed the 11,600 marks. HDFC and IndusInd Bank gained 5 percent and 3 percent, respectively, after posting business updates. Meanwhile, Tata Motors also ticked up 3 percent as Jaguar Land Rover reported a 50 percent growth in September quarter sales at 1.13 lakh vehicles on a sequential basis. Britannia Industries gained 1 percent after its board has approved a bonus debenture issue and dividend. The trend among Nifty sectoral indices was largely positive, led by the Nifty Bank index, up 1.5 percent. In the broader market, the S&P MidCap and SmallCap indexes were trading 0.7 percent and 0.6 percent higher, respectively.

TCS becomes second Indian firm with Rs.10 lakh crore market cap after Reliance

Monday, October 5, 2020
Tata Consultancy Services on Monday became the only second listed Indian firm after Reliance to reach the Rs 10 lakh crore market capitalization. Shares of Tata Consultancy Services rallied 7 per cent to Rs 2,706 on the BSE in the early morning trade on Monday after the company said it will consider a buyback on Wednesday, October 7, 2020. ICICI Securities believes that TCS has the potential to do a buyback of Rs 20,000 crore, which is around 2 per cent of its market capitalisation. Following the rally in its share price, the company’s market valuation jumped to Rs 10.16 lakh before the trade close.TCS is the second most-valuable domestic firm in terms of market capitalisation. Meanwhile, Reliance Industries Limited is the first Indian film to have crossed the Rs 10 lakh crore market valuation mark. Its market valuation is currently at Rs 15,02,355.71 crore – the highest for any listed company in the country. Read more

Govt's key reforms fail to gain traction

Monday, October 5, 2020
Delay in appointing a new central bank committee to decide interest rates is just the latest of govt’s key economic reforms that are failing to gain traction during the nation’s worst crisis in decades. Three of its major policies -- the goods and services tax, a bankruptcy and insolvency law, and the Monetary Policy Committee -- have been mired in problems since the Covid-19 outbreak upended economic activity. The central govt has delayed payments it promised India’s 28 states as compensation under the new consumption tax regime, increasing tension between the two tiers of government. The bankruptcy law has been suspended, frustrating the loan recovery efforts of lenders already saddled with one of the world’s worst bad-loan problems. And on top of that, the government didn’t appoint members to the central bank’s MPC in time for its scheduled policy decision last week, delaying possible stimulus that the economy desperately needs.

Closing Bell:Sensex gains 276 points, Nifty at 11503.35

Monday, October 5, 2020
At close, the Sensex was up 276.65 points or 0.71% at 38973.70, and the Nifty was up 86.40 points or 0.76% at 11503.40 mainly lifted by information technology (IT) stocks and private sector lenders such as HDFC Bank, and ICICI Bank. TCS was the top Sensex gainer, followed by Tata Steel, Sun Pharma, Infosys, Tech Mahindra and IndusInd Bank. On the flip side, Bajaj Finserv, Bajaj Finance, Bharti Airtel, ITC, Power Grid Corporation of India, RIL and Bajaj-Auto were the top Sensex losers. About 1461 shares have advanced, 1213 shares declined, and 173 shares are unchanged. the volatility index, India VIX, shot up 7.67 per cent. Nifty IT index, up 3.47 per cent. Buying witnessed in the IT, metal, pharma, FMCG and banking stocks, while infra and energy indices ended in the red.

Centre, RBI gets a week to file affidavits in Loan moratorium case

Monday, October 5, 2020
The Supreme Court today(5th Oct.2020) adjourned the hearing in the loan moratorium case to October 13. The bench granted an additional week's time to the government to file the affidavit recounting the guidelines, notifications, and circulars that have been taken by the RBI and Union government. The development comes as the Centre is set to formulate a scheme to waive compound interest for small borrowers during the six-month moratorium period, which may come at a cost of Rs 5,000-7,000 crore. The government, during the hearing, submitted a Cabinet note to the apex court following its approval. Read more

MARKET UPDATE:Sensex gained 400 points to 39,140 levels and the Nifty topped the 11,500-mark

Monday, October 5, 2020
The markets in India were trading firm, in line with Asian indices, today(5th Oct.2020) on reports that US President Donald Trump could return to the White House today after responding well to Covid-19 treatment. Among headline indices, the S&P BSE Sensex gained 400 points, 1 percent, to 39,140 levels and the Nifty50 index topped the 11,500-mark. TCS and IndusInd Bank (up 5%) were the top Sensex gainers. The trend among Nifty sectoral indices was positive, led by the Nifty IT index, up 1.7 percent. Meanwhile, the volatility index, India VIX, shot up 6 percent. Meanwhile, in the broader market, the S&P BSE MidCap and SmallCap indexes were trading half a percent higher, each. One of the largest retail broking houses, Angel Broking, will debut at the bourses today. The issue price is fixed at Rs 306 per share, the higher end of the price band. The IPO was oversubscribed nearly four times.

Govt ready for waiver of the compounding of interest for small borrowers during moratorium

Saturday, October 3, 2020
The central government is ready to bear the burden of an interest waiver for small borrowers as the estimated impact of the move on the entire banking system would otherwise be Rs 6 trillion, the finance ministry told the Supreme Court yesterday(2nd Oct.2020). “After careful consideration and weighing all possible options, the Union government has decided to continue the tradition of handholding the small borrowers. The government, therefore, has decided that the relief on waiver of compound interest during the six-month moratorium period shall be limited to the most vulnerable category of borrowers,” an affidavit submitted by the department of financial services (finance ministry) on Friday stated. Read more

Multiplex Shares Rally 17 % After Government Allows Cinemas To Operate With 50% Seating

Thursday, October 1, 2020
Shares of multiplex operators like Inox Leisure and PVR rallied up to 17 per cent on the BSE on Thursday after the government allowed cinema halls to operate with 50 per cent seating capacity under 'Unlock 5' rules released by the Home Ministry from October 15 outside containment zones adhering to the Standard Operating Procedure (SOP). Following the government's order - PVR shares rallied as much as 14 per cent to hit an intraday high of ₹ 1,395 and Inox Leisure surged as much as 18 per cent to hit an intraday high of ₹ 318.20. About 9,500 theatres have remained shut since the nationwide coronavirus lockdown started in late March. Movie industry representatives in Bollywood have said it would take at least two years for them to recover financially from the pandemic, putting tens of thousands of jobs at risk. Many big-budget Bollywood movies have been getting pushed to the next fiscal year, as falling box-office collections made production houses face a liquidity crunch. Read more

Closing Bell:Sensex gains 629 points, Nifty at 11416.95

Thursday, October 1, 2020
At Close, Sensex closed 629 points or 1.65 per cent, higher at 38,697.05 and Nifty ended 169 points, or 1.51 per cent, up at 11,416.95 endings near the day’s high amid across-the-board buying. IndusInd Bank shares jumped 12.5% followed by Bajaj Finance, Axis Bank, ICICI Bank, and Tech Mahindra. Only ITC, NTPC, Reliance, Titan, and ONGC ending the day in red with marginal losses. The volatility index, India VIX, slipped nearly 6.5 per cent to 18.27 levels. BSE Midcap index closed 0.73 per cent up while the BSE Smallcap index settled 0.69 per cent up. Among the sectoral indices, BSE Energy and Consumer Durables ended with mild losses. BSE Bankex index jumped almost 4 per cent while Finance rose over 3 per cent.

Covid-19 crisis:Unlock 5.0 has been set in motion in India

Thursday, October 1, 2020
In India unlock 5.0 has been set in motion from today(1st Oct.2020). The new set of guidelines aims to further open up economic activities. Last month the MHA allowed metro rails to resume, allowed functions and gatherings of up to 100 people, allowed bars and pubs to open and removed all interstate and intrastate movement restrictions. However, education institutions were told to remain closed, cinemas and entertainment parks were kept shut, and international travel too, except as permitted by the MHA, remained suspended. What are the major changes expected in unlock:5? Read more

MARKET UPDATE:Sensex rose 400 points to 38,500 levels, and the Nifty topped the 11,350-mark

Thursday, October 1, 2020
The markets in India shot up 1 percent today(1st October 2020), on the back of favourable global cues. Among headline indices, the S&P BSE Sensex rose 400 points to 38,500 levels, and the Nifty50 index topped the 11,350-mark. Bajaj Auto and IndusInd Bank (up 3%) were the top Sensex gainers, followed by Bajaj Finance, Axis Bank, and Bajaj Finserv (all up 2%). Reliance Industries gained 1 percent after the company announced that US private equity firm Silver Lake Partners will invest an additional Rs 1,875 crore in Reliance Retail. PVR and Inox Leisure zoomed 15 and 17 percent, respectively, after the central government allowed the reopening of cinema halls, theatres, and multiplexes with effect from October 15 with a maximum of 50 percent capacity. Besides, ONGC and Oil India dipped 3 percent each after the government cut natural gas prices cut by 25 percent. Read more

India records current account surplus of $19.8 bn in Q1-2020-21

Thursday, October 1, 2020
The current account balance (CAB) of India recorded a surplus of $19.8 billion (3.9 percent of GDP) in Q1 of 2020-21. This contrasts with a deficit of $ 15 billion (2.1 percent of GDP) in April-June 2019 (Q1Fy20). The surplus in April-June 2020 (Q1Fy21) comes on top of a surplus of $0.6 billion (0.1 percent of GDP) in the preceding quarter (Q4 Fy20), said the Reserve Bank of India in a statement. The surplus was due to a sharp contraction in the trade deficit to $10 billion, as the country’s merchandise imports declined sharply relative to exports on a year-on-year basis. Net services receipts remained stable, primarily on the back of earnings from computer services. Private transfer receipts, comprising broadly remittances by Indians working overseas, amounted to $ 18.2 billion--a decline of 8.7 percent from their level a year ago.

All 32 accused in the Babri Masjid demolition conspiracy case acquitted

Wednesday, September 30, 2020
A special court today(30th Sept.2020) acquitted all 32 accused, including former deputy prime minister Lal Krishna Advani, in the demolition of the Babri mosque in Ayodhya on December 6, 1992. "The accused tried to stop the demolition," said special CBI judge Surendra Kumar Yadav in Lucknow. The court said the demolition was not planned and some members of the crowds impulsively attacked the structure. “The court has said that there is no legal evidence to prove the charges. The court also did not find any evidence of a conspiracy,” I B Singh, a lawyer for one of the accused, told. The judge also said the Hindu activists who tore down the 16th-century mosque were "anti-social elements", according to NDTV.com. Read more

Google India to launch 'Namaste Digital' show on DD to empower SMBs

Wednesday, September 30, 2020
Google India on Wednesday said that it will launch a new show in partnership with Doordarshan named as Namaste Digital as part of its new multi-pronged effort to assist small and medium-sized businesses (SMBs) steer the challenging economic environment. The "Namaste Digital" show will provide as a mass media programme for SMBs to learn about the Internet and help them grow their business, Google said. Keeping the needs of different businesses in mind, Google has also associated with Zoho and Instamojo to help small and medium businesses build a digital presence. and delivery services providers Dunzo and Swiggy to fast track the onboarding process, with both partners committing to provide additional support to small businesses to start accepting orders online and enable delivery logistics. Under the new initiative, small businesses will be able to create business websites using Zoho inventory and sell online through Zoho Commerce for free till March 31, 2021. Read more

Closing Bell:Sensex gains 94 points, Nifty at 11247.55

Wednesday, September 30, 2020
At close, the Sensex was up 94.71 points or 0.25% at 38067.93, and the Nifty was up 25.10 points or 0.22% at 11247.50 lifted mainly by FMCG and pharma stocks. Nestle India, Titan Company, Tech Mahindra, and Asian paints were top gainers. Tata Steel, BPCL, Bharti Airtel, IndusInd Bank and Power Grid were the worst performing Sensex constituents. About 1196 shares have advanced, 1370 shares declined, and 151 shares are unchanged. The Nifty FMCG index, up over 1 per cent. The S&P BSE MidCap and SmallCap indexes ended 0.05 per cent and 0.04 per cent higher, respectively. The mixed trend seen among the sectoral indices with FMCG, IT and pharma ended in the green, while metal, energy and infra sectors finished lower. Volatility slipped 0.42% during the day.

Walmart in talks to invest $25 bn in Tata Group's 'super app

Tuesday, September 29, 2020
Walmart is in talks with Tata Group for a potential investment of up to $25 billion in a proposed super app. As per discussions reported between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report. The news comes as Reliance Industries Ltd, controlled by Asia's richest man Mukesh Ambani, raised over $20 billion from investors including Facebook, Alphabet's Google, KKR & Co and Silver Lake Partners by selling stakes in its digital business Jio Platforms. The super app, which is scheduled to be launched in India in December or January, will bring together Tata's consumer business under one channel offering a wide range of products in the retail space, Mint said. Tata's consumer businesses include watch and jewellery brand Titan and fashion retail chain, Trent. Read more

Serum Institute to make 200 mn Covid vaccines in 2021

Tuesday, September 29, 2020
India registered 70,589 new Covid-19 cases, taking the total caseload to 6,145,291. The death toll now stands at 96,351. The Union Health Ministry has launched a web portal that will provide all important information on coronavirus, vaccine development, ongoing clinical trials, and progress made in this area locally and globally. The "vaccine web portal" and the ''National Clinical Registry for Covid-19'' have been developed by ICMR. The Ministry of Health and Family Welfare yesterday (28th Sept.2020) said that the first vaccine in India will most likely be available by early 2021. The WHO and its leading partners have agreed to roll out 120 million rapid-diagnostic tests for the coronavirus to help lower- and middle-income countries make up ground in a testing gap with richer countries - even if it's not fully funded yet. Read more

Closing Bell:Sensex ends flat amid high volatility, Nifty at 11222.40

Tuesday, September 29, 2020
At close, the Sensex was down 8.41 points or 0.02% at 37,973.22, and the Nifty was down 5.10 points or 0.05% at 11,222.40 after fluctuating between gains and losses. Ultratech Cement was the top gainer followed by TCS, JSW Steel, Hero MotoCorp and Tata Steel. While losers included ONGC, IndusInd Bank, UPL, Power Grid Corp and Axis Bank. Nifty PSU Bank index, down 2 per cent. About 1170 shares have advanced, 1406 shares declined, and 168 shares are unchanged. Buying witnesses in the metal, IT and auto sectors, while the bank, FMCG, infra, pharma and energy indices ended in the red. The S&P BSE MidCap index up 0.12 per cent while the S&P BSE SmallCap down 0.02 per cent.

MARKET UPDATE:Sensex 90 points higher at 38,069 levels and the Nifty hovering around 11,250-mark

Tuesday, September 29, 2020
The markets in India were trading flat with a positive bias today(29th Sept.2020), on the back of firm cues from the main Wall Street indices. The S&P BSE Sensex was trading nearly 90 points higher at 38,069 levels and the Nifty50 index was hovering around the 11,250-mark. TCS, Asian Paints, Maruti Suzuki, and Bajaj Auto (all up 1%) were the top Sensex gainers. On the other hand, Powergrid dipped 1 percent in early deals. In the broader market, the S&P BSE MidCap index was trading at 14,738.75, up 0.12 percent while the S&P BSE SmallCap was trading at 14,860, down 0.02 percent.

Beware! time bomb ticking in stock markets:Jim Rogers

Monday, September 28, 2020
The next decade is going to be tough for global investors, Legendary investor Jim Rogers believes. In an interaction with ETNOW, he said the worst of his lifetime is yet to come, which will take a huge toll on many of the hyped-up stocks. Commenting on the ongoing trend, where expensive stocks are getting more expensive and cheap ones are getting cheaper, he said this always happens towards the end of a bull market, as people think they are safe, and thereafter, you have a blow-off in the market. “That is what happens now. This is a sign that this bull market is getting very old. Several hyped-up stocks are likely to crash when the next bear market comes,” he said. Read more

RBI postpones September’s Monetary Policy Committee meeting, new dates to be announced shortly

Monday, September 28, 2020
The meeting of the Monetary Policy Committee (MPC), for the penultimate policy review for 2020, which was scheduled for 29 September, 30 September, and 1 October 2020 has been rescheduled. The revised dates will be notified later, RBI said. The Reserve Bank is required to conduct at least four meetings of the Monetary Policy Committee in a year. The central bank didn’t give any reason, but the external members for the MPC have not been appointed by the government. This may have forced the central bank to defer the meetings. Even as weak demand hurts the economy, the RBI had refrained from cutting the benchmark lending rate, leaving the rate unchanged at 4 per cent in the last MPC meeting. However, it continued to maintain the accommodative stance in the wake of weak growth numbers and the adverse impact of the coronavirus pandemic on the economy. Read more

Closing Bell:Sensex gains 593 points, Nifty at 11227.55

Monday, September 28, 2020
At close, the Sensex was up 592.97 points or 1.59% at 37981.63, and the Nifty was up 177.20 points or 1.60% at 11227.50 amid broad-based buying. IndusInd Bank was the top Sensex gainer, followed by Bajaj Finance, Axis Bank, Power Grid Corporation of India, ONGC, ICICI Bank and Sun Pharma. On the flip side, HUL, Infosys and Nestle India were the losers on the Sensex pack. About 1888 shares have advanced, 763 shares declined, and 158 shares are unchanged. Nifty Media index was the top sectoral gainer, up 4.77 per cent. Nifty Bank index jumped 3.26 per cent while the Nifty FMCG index gained 0.85 per cent. On the sectoral front, all the Nifty sectoral indices ended in the green. BSE Midcap and Smallcap indices rose over 2 per cent each.

MARKET UPDATE:Sensex rose 350 points to 37,740 levels and Nifty topped the 11,100-mark

Monday, September 28, 2020
The equity markets in India gained nearly one per cent today(28th Sept.2020), tracking positive cues from other Asian markets, ahead of the Supreme Court hearing in the loan moratorium and interest waiver case. Among headline indices, the S&P BSE Sensex rose 350 points to 37,740 levels and the Nifty50 index topped the 11,100-mark. ONGC (up 4%) was the top Sensex gainer, followed by Bajaj Finance (up 3%), NTPC, Axis Bank, and Larsen & Toubro (all up 2%). Meanwhile, Lakshmi Vilas Bank slipped 5 percent after a large section of the bank's shareholders voted against the reappointment of the managing director and chief executive, as well as seven directors and auditors, at the recent AGM. All the Nifty sectoral indices were trading in the green, led by the Nifty Metal index, up 1.8 percent. The broader indices, meanwhile, outperformed the benchmark indices, with the S&P BSE MidCap and SmallCap indexes trading over 1 per cent higher, each.

COVID-19: India's active cases see net reduction

Sunday, September 27, 2020
India reported a net reduction in its count of active coronavirus cases on Saturday,26th Sept.2020. In the seventh daily reduction in eight days, the country’s active cases came down by 9,147 to 960,969. A jump of 93,420 in the number of cured cases, meanwhile, pushed recoveries in the country to 4,849,584, or 82.14 percent all infections reported so far. While a single-day increase of 85,362 in total cases took India’s overall tally to 5,903,932, its death toll reached 93,379 with 1,089 fatalities being reported in 24 hours. The second-most-affected country by active and total cases, and third by a fatality, India has added 595,918 in the past seven days. following are the salient points of the coronavirus data released by the MoHFW on Saturday (September 26, 2020): Read more

Advanced Enzyme stock gains 33% in 2 days as Nalanda India picks up stake

Friday, September 25, 2020
Shares of agricultural products company Advanced Enzyme Technologies rallied 13 per cent to Rs 317 on the National Stock Exchange (NSE) in the early morning trade on Friday touching new 52 weeks high and surging over 33 per cent in the last 2 days, after foreign portfolio investor (FPI) bought nearly 4 per cent stake in the company via the open market. Nalanda India Equity Fund has bought 41,90,491 equity shares in Advanced Enzyme Technologies (representing 3.75 per cent of the total paid-up equity) for Rs 111 crore, at Rs 263.8 per share. Advanced Vital Enzymes Private Limited sold 3 million equity shares at a price of Rs 265 per share on the NSE. Advanced Enzyme Technologies in annual report 2019-20 said it may benefit from an increase in healthcare spending in the US and India. The US has the highest health spending in the world and it is drastically moving towards the usage of human healthcare enzymes and Probiotics. Read more

Closing Bell:Sensex gains 835 points, Nifty at 11050.25

Friday, September 25, 2020
At close, the Sensex was up 835.06 points or 2.28% at 37388.66, and the Nifty was up 244.80 points or 2.27% at 11050.30 due to across-the-board buying. Bajaj Finserv, HCL Tech, Bharti Airtel, IndusInd Bank, L&T, TCS, ICICI Bank, ONGC and Infosys.are top Sensex gainers. While losers included SBI Life Insurance, UPL, HDFC Life and BPCL. About 1953 shares have advanced, 648 shares declined, and 165 shares are unchanged. Nifty IT index was top sectoral gainer, up 3.46 per cent and FMCG indexes up 3.5 per cent. All the sectoral indices ended in the green. BSE Midcap and Smallcap indices gained 2-3 per cent.

India’s economy showed signs of stabilising

Friday, September 25, 2020
In August India’s economy showed signs of stabilising with manufacturing and services gradually improving even as coronavirus cases escalated across the country. Five of the eight high-frequency indicators compiled by Bloomberg News gained last month, while two were unchanged and one deteriorated. That kept the needle on a dial measuring so-called animal spirits steady at 4 -- a level arrived at by using the three-month weighted average to smooth out volatility in the single-month readings. A strong rebound is still a far way off though as a surge in virus cases continues to disrupt activity and has led many economists to downgrade their growth forecasts for the year. Read more

MARKET UPDATE:Sensex rose 350 points to 36,910 levels, and the Nifty topped the 10,900-mark

Friday, September 25, 2020
In Indian markets, benchmark indices gained 1 percent in today's(25th Sept.2020) opening deals, following similar trends in Asian indices. The S&P BSE Sensex rose 350 points to 36,910 levels, and the Nifty50 index topped the 10,900-mark. IndusInd Bank, Mahindra & Mahindra, Bajaj Finance, and TCS (all up 2%) were the top Sensex gainers. All the Nifty sectoral indices were trading in the green, led by the Nifty Auto index, up 2 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were also trading 1 percent higher, each.

Angel Broking IPO subscribed 3.9 times for final day

Thursday, September 24, 2020
The initial public offer of Angel Broking has been subscribed 3.9 times on September 24, the final day of bidding, backed by retail investors. The Rs 600-crore initial public offering of Angel Broking was subscribed nearly 2 times on the National Stock Exchange (NSE) and BSE on Wednesday, the last day for bidding. The IPO has received bids for 2.43 crore equity shares against an offer size of 1.37 crore equity shares, the data available on exchanges showed. The offer received a bumper response from retail investors who have subscribed the issue 3.4 times so far on Day 3 of the issue. However, the IPO failed to get any subscription from Qualified Institutional Buyers (QIB). The IPO consists of a fresh issue of Rs 300 crore and an offer for sale of Rs 300 crore by promoters and investors. Angel Broking is one of the largest independent full-service retail broking house in India which was incorporated in 1996 in terms of active clients. Read more

Closing Bell:Sensex crashes 1155 points, Nifty at 10805.55

Thursday, September 24, 2020
At close, the Sensex was down 1,114.82 points or 2.96% at 36553.60, and the Nifty was down 326.40 points or 2.93% at 10805.50. Barring HUL, all the Sensex constituents such as IndusInd Bank, Bajaj Finance and ICICI Bank ended deep in red today. The volatility index, India VIX, shot up 12.32 per cent to 23.53 levels. About 598 shares have advanced, 2009 shares declined, and 155 shares are unchanged. Nifty IT and Nifty Metal indices were top sectoral losers, down 4.20 per cent and 4.24 per cent, respectively. Nifty Bank fell 3.4 per cent, Nifty Auto 3.54 per cent and Nifty FMCG index lost 0.95 per cent. The S&P BSE MidCap and SmallCap indexes were trading over 2 per cent lower, too.

MARKET UPDATE:Sensex dipped 570 points to 37,090 levels and the Nifty slipped below 11,000 level

Thursday, September 24, 2020
The Indian markets started the expiry day of September(24th Sept.2020), derivative series on a feeble note, plunging over one percent, on the back of subdued global cues. The S&P BSE Sensex dipped 570 points to 37,090 levels and the Nifty50 index slipped below the psychological level of 11,000. Mahindra & Mahindra, Bajaj Finance, Infosys, Tata Steel, and IndusInd Bank, all slipped over 2 percent and were the top Sensex laggards. All the Nifty sectoral indices were painted red, with Nifty IT and Nifty Metal indexes, down 2 percent each, taking the biggest hit. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 1.75 percent and 1.9 percent lower, respectively.

Bharti Airtel, Vodafone Idea shares plunge up to 9% after Jio launches new post-paid plans

Wednesday, September 23, 2020
Shares of telecom service providers, Bharti Airtel and Vodafone Idea (Vi) shares fell up to 9 per cent in Wednesday’s trade after Reliance Jio rolled out postpaid tariff plans, making a concerted bid for the higher paying subscribers of India's older operators. Under the new plans, Jio is offering an extensive content portfolio at a rate which is 6-20 per cent cheaper than Airtel and Voda-Idea. Reliance Jio has introduced new postpaid plans called JioPostpaid Plus that offers a free subscription to OTT platforms Amazon Prime, Disney+ Hotstar, and Netflix and a host of other benefits. It is also offering in-flight connectivity for Indian travellers going overseas, free international roaming in the US and UAE, besides other offers. Jio’s new monthly post-paid tariff plans range from Rs 399 to Rs 1,499, will be available from September 24 in Jio Stores and via home delivery, while Airtel’s postpaid plans start at Rs 499, though Vi’s also begin from Rs 399. Read more

Closing Bell:Sensex slips 66 points, Nifty at 11131.85

Wednesday, September 23, 2020
At close, the Sensex was down 65.66 points or 0.17% at 37,668.42, and the Nifty was down 21.80 points or 0.20% at 11,131.90 amid volatility. Infosys, HCL tech, Asian Paints, L&T, HDFC Bank, Maruti Suzuki, ITC were major gainers in the Sensex pack, while losers include Bharti Airtel, Tata Steel, TCS, Power Grid Corporation of India, NTPC, ONGC and Bajaj-Auto. About 1213 shares have advanced, 1382 shares declined, and 155 shares are unchanged. Nifty IT was the top sectoral gainer. Nifty PSU Bank index, down 2 per cent. The BSE MidCap and SmallCap indexes were trading 0.7 per cent and 1.2 per cent higher, respectively. Barring Nifty Metal and Nifty PSU Bank indices, all the sectoral indices were trading in the positive territory. India VIX, rose 3 per cent

MARKET UPDATE:Sensex up 340 points at 38,080 levels and the Nity testing the 11,250-mark

Wednesday, September 23, 2020
Equity markets in India rose half a percent today(23rd Asept.2020), tracking the overnight gains on the major Wall Street indices. The S&P BSE Sensex was up 340 points at 38,080 levels and the Nity50 index was testing the 11,250-mark. Reliance Industries gained 2 percent after the company announced that KKR will invest Rs 5,500 crore for a 1.28 percent stake in Reliance Retail. The stock was the top Sensex gainer, followed by Infosys, Maruti, and IndusInd Bank (all up 1%). All the Nifty sectoral indices, barring the Nifty Metal index, were trading in the green, led by the Nifty Private Bank index, up 0.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 0.7 percent and 1.2 percent higher, respectively.

KKR to invest Rs 5,550 crore in Reliance Retail Ventures

Wednesday, September 23, 2020
Global investment firm KKR will invest Rs 5,500 crore in Reliance Retail for 1.28 percent equity share, Reliance Industries Limited said in a BSE filing today(23rd Sept.2020). This is the second investment by KKR in a Reliance subsidiary, following an Rs 11,367 crore investment in Jio Platforms announced earlier this year. “I am pleased to welcome KKR as an investor in Reliance Retail Ventures as we continue our onward march. KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years," said Mukesh Ambani in a statement issued by RRVL. Read more

TCS share price hits new 52-week high after UK supermarket chain Morrisons expands strategic pact

Tuesday, September 22, 2020
Shares of Tata Consultancy Services (TCS) gained 2 per cent to Rs 2,523 in an otherwise weak market on Tuesday after the company said it has expanded its partnership with Morrisons, a leading supermarket chain in the UK, through a five-year contract for application management services, data services and cybersecurity services. Tata Consultancy Services stock surpassed its previous high of Rs 2,538 apiece on September 15, 2020. TCS said the partnership will help accelerate the latter’s plan to simplify and modernise its technology to improve the shopping trip, eliminate wasted effort and become more popular and accessible to its customers. Morrisons selected TCS as its Application – Managed Services partner in 2016, to improve the customer and employee experience. Since then, TCS has worked closely with the retailer to help drive its growth and modernisation agenda across various lines of business, leveraging its comprehensive portfolio of business and technology services and solutions. Read more

India needs huge investment to give all Indians Covid vaccine

Tuesday, September 22, 2020
A vaccine for the coronavirus will likely be ready by early 2021 for India. Rolling it out safely across India’s large population will be the country’s biggest challenge in fighting its surging epidemic, experts say. “By year-end, we will have data that will tell us which vaccines are working and which ones are not going to do so well,” said Kang, who until July was heading the Indian government committee looking into prospective indigenous vaccine candidates. “If we get good results by year-end then we are looking at vaccines being potentially available in tiny numbers in the first half of 2021 and larger numbers in the latter part.” Read more

Closing Bell:Sensex crashes 300 points, Nifty at 11153.65

Tuesday, September 22, 2020
At Close, Sensex closed 300 points, or 0.79 per cent, lower at 37,734.08 while Nifty ended at 11,153.65 with a loss of 97 points or 0.86 per cent. Maruti Suzuki was the most loser in the Sensex pack followed by L&T, IndusInd Bank, Axis Bank, ONGC, Reliance Industries, Asian Paints and Titan Company. On the flip side, HCL Tech was the top Sensex gainer followed by TCS, Sun Pharma, Tech Mahindra, ICICI Bank and Bharti Airtel. Nifty Bank index fell 1.07 per cent while Nifty FMCG was down 0.78 per cent. Realty, Oil & Gas, Capital Goods and Industrials lost 2 per cent. India VIX slipped nearly 5 per cent to 21 levels. BSE Midcap and Smallcap indices were 1.68 per cent and 1.79 per cent down, respectively. Barring Nifty Pharma and Nifty IT indices, all the sectoral indices have ended in the negative territory.

MARKET UPDATE:Sensex dipped 200 points to 37,820 levels and the Nifty fell below the 11,200-mark

Tuesday, September 22, 2020
The markets in India headed lower after a flat start today(22nd Sept.2020), in tune with subdued global cues. The S&P BSE Sensex dipped 200 points to 37,820 levels and the Nifty50 index fell below the 11,200-mark. Bajaj Finance, Bajaj Finserv, ONGC, and Tata Steel, all slipped over 2 percent and were the top Sensex laggards. On the other hand, IT stocks HCL Tech, Tech Mahindra, and TCS rose 1 percent each. Shares of GMM Pfaudler tanked 10 percent on the BSE after the company said its promoters planned to sell up to 28 percent stake worth up to Rs 1,433 crore in the company via offer for sale. The trend among Nifty sectoral indices was mixed, with the Nifty Metal index, down 1 percent, leading the list of losers. Meanwhile, the broader markets underperformed their benchmark peers with the S&P BSE MidCap and SmallCap index dipping over 1 percent and 2 percent, respectively.

Birla Corporation slips 9 per cent after HC bans Harsh Vardhan from group cos

Monday, September 21, 2020
Shares of Birla Corporation (Birla Corp) slipped 9 per cent to Rs 662 on the BSE in the intra-day trade on Monday after the Calcutta High Court (HC) on Friday restrained Harsh Vardhan Lodha from holding any office in M P Birla group entities. With this Lodha, who has fought for almost a decade to retain control of cement maker Birla Corp and the MP Birla group companies, will be removed with immediate effect from all company positions. The court’s ruling is a significant victory for the extended Birla family, which is contesting the legal validity of Priyamvada Birla’s Will, according to a Mint report. The two sides have been locked in a battle for 18 years over the Will in which Priyamvada Birla bequeathed her estate and control of the now Rs 25,000 crore MP Birla empire to her Chartered Accountant RS Lodha and his second son Harsh Vardhan Lodha. Read more

Many States opt for RBI window to meet GST shortfall

Monday, September 21, 2020
The Central govt. has received support from 21 states and Union Territories (UTs) for its offer of the Rs 97,000-crore Reserve Bank of India (RBI) window giving them compensation under the goods and services tax (GST) regime. This will help clear this proposal at the GST Council in case of a vote. The 21 states and UTs are Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Karnataka, Madhya Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Puducherry, Sikkim, Tripura, Uttarakhand, and Uttar Pradesh (UP), said finance ministry sources.

Closing Bell:Sensex crashes 812 points, Nifty at 11250.55

Monday, September 21, 2020
At Close, Sensex closed 812 points, or 2.09 per cent, down at 38,034.14 while Nifty ended 254 points, or 2.21 per cent, lower at 11,250.55. IndusInd Bank was the most loser of the Sensex pack, followed by Bharti Airtel, Tata Steel, ICICI Bank, M&M, Maruti Suzuki, Axis Bank, Bajaj Finance and Nestle India. On the contrary, Kotak Mahindra Bank, Infosys and TCS were the top Sensex gainers. The nifty Metal index lost 5.53 per cent, followed by 4.46 per cent loss in Nifty Pharma index. Nifty Realty index fell 6 per cent. Nifty IT index too settled lower. Nifty Bank declined over 3.3 per cent. All the sectoral indices settled in the negative territory. BSE Midcap and Smallcap indices closed 3.43 per cent and 3.61 per cent down, respectively.

MARKET UPDATE:Sensex hovered around 38,850 and Nifty holding the 11,500-level

Monday, September 21, 2020
The Indian benchmark indices were started the expiry week of the September series derivative contracts on a flat note, tracking similar trends from the other Asian markets today(21st Sept.2020) The S&P BSE Sensex hovered around 38,850 and the Nifty50 index was holding the 11,500-level. Tech stocks were the top gainers in the Sensex pack, led by HCL Tech (up 4%). TCS, Tech Mahindra, and Infosys were also up 1 percent each. The trend among the Nifty sectoral indices were largely negative, led by the Nifty PSU Bank index, down half a percent. On the other hand, the Nifty Pharma index was trading 1 percent higher. In the broader market, the S&P BSE MidCap index was trading flat while the SmallCap index was up 0.5 percent. Route Mobile will debut at the bourses today after the finalisation of the issue price at Rs 350 per share. The issue was subscribed over 73 times and is expected to list at a premium of 50-60 percent.

MARKET UPDATE:Sensex dipped 184 points to 39,120 levels and the Nifty fell below the 11,600-mark

Thursday, September 17, 2020
The equity markets in India slipped half a percent today(17th Sept.2020) in tune with the losses in other Asian markets. The S&P BSE Sensex dipped 184 points to 39,120 levels and the Nifty50 index fell below the 11,600-mark. ICICI Bank, TCS, and IndusInd Bank were all trading 1 percent lower in early deals. On the other hand, ONGC was up 1 percent. The trend among Nifty sectoral indices was largely negative, led by the Nifty Bank index, down 1 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading flat. IT services firm Happiest Minds Technologies will make stock market debut today. The Rs 702-crore initial public offering of Happiest Minds Technologies garnered massive responses from investors as it was subscribed to a whopping 151 times.

NBFCs ride out the storm with help of stimulus

Wednesday, September 16, 2020
The health of India’s NBFCs remained resilient in August, suggesting that record stimulus steps by the central govt are helping the crisis-hit sector ride out the pandemic. Premiums on non-bank lenders’ bonds narrowed to a two-year low, according to an index of AAA-rated five-year notes. Three other indicators compiled by Bloomberg, covering areas including liquidity and share performance, stayed steady from the previous month, with two at levels indicating strength. India’s non-bank lending sector was hit by a crisis in 2018 when a large financier unexpectedly defaulted, and the nation now needs it to stay healthy in order to prevent the gross domestic product from shrinking further. The reach of shadow banks extends into many corners of the economy, as they lend to a wide range of businesses from road-side teashops to tycoons. Read more

MARKET UPDATE:Indices flat;Sensex at 39,090 levels, and Nifty at 11,500-mark

Wednesday, September 16, 2020
The equity markets in India today (16th Sept.2020) were trading flat with a positive bias, tracking mixed cues from other Asian markets. The S&P BSE Sensex added 50 points at 39,090 levels and the Nifty50 index topped the 11,500-mark. Mahindra & Mahindra, Larsen & Toubro, and Bajaj Auto (all up 3%) were the top Sensex gainers. On the other hand, State Bank of India and Axis Bank were trading half a percent lower. Aurobindo Pharma rose 4 percent in early deals after the company announced its collaboration with the Council of Scientific and Industrial Research to develop vaccines to protect against Covid-19. The trend among Nifty sectoral indices was largely positive, led by the Nifty Auto index, up 0.7 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 0.4 percent higher, each.

MARKET UPDATE:Sensex hovered around 38,820 levels, and Nifty at 11,450-mark

Tuesday, September 15, 2020
The equity markets in India climbed off the day's top to trade flat with a positive bias today(15th Sept.2020). The S&P BSE Sensex hovered around 38,820 levels, after rising as high as 39,013 levels intra-day. The Nifty50 index was, meanwhile, holding the 11,450-mark. Sun Pharma and Bajaj Finance (both up 2%) were the top Sensex gainers, followed by NTPC, ICICI Bank, and Tata Steel (all up 1%). The trend among Nifty sectoral indices was positive, led by the Nifty Pharma index, up 2 percent. The broader market, meanwhile, continued to outperform the benchmarks, with the S&P BSE MidCap and SmallCap indexes trading 0.8 percent and 1 percent higher, respectively. Six hundred and forty-two companies including Vedanta, SpiceJet, and Future Enterprises are scheduled to announce their earnings today.

MARKET UPDATE:Sensex up by 335 points at 39,190 levels and Nifty reclaimed the 11,550-mark

Monday, September 14, 2020
The equity markets in India were trading firm today(14th Sept.2020), with the Sensex and Nifty gaining over half a percent. Meanwhile, the broader indices outperformed their benchmark peers after the Sebi tweaked rules for multi-cap mutual funds. According to the new norms, multi-cap funds must hold at least 75 percent of their assets in equities with 25 percent each in large, medium, and smaller companies. Consequently, the S&P BSE MidCap index rose 1.18 percent while the S&P BSE SmallCap was up 2 percent. Among the headline indices, the S&P BSE was up 335 points at 39,190 levels and the Nifty50 index reclaimed the 11,550-mark. HCL Tech (4 percent) gained the most after the company raised its guidance. Besides, Reliance Industries (up 1 percent) hit a fresh all-time high. The HDFC twins and IndusInd Bank were also trading 1 percent higher. The Nifty sectoral indices were all trading in the green, led by Nifty IT and Nifty Private Bank indexes, both up 1 percent. Read more

Ashok Soota's Happiest Minds IPO scroes in second innings

Friday, September 11, 2020
Ashok Soota, a pioneer of India’s information technology services industry, has headed three outsourcing companies including one of the nation’s largest, Wipro Ltd., and taken two of them public. Happiest Minds Technologies' was the latest startup, which was oversubscribed 151 times and was founded in the year 2011 when he was 68. The Rs 700-crore initial public offer (IPO) of his IT service company, making it the eighth biggest IPO of the last decade. The IPO of the Mumbai-headquartered digital IT services provider was subscribed 351.5 times by non-institutional investors and 77.4 times by Qualified Institutional Buyers (QIB) during September 7-9. Retail demand for the issue was strong as well, garnering 70.94 times subscription. Happiest Minds, which gets almost all of its revenue from digital services, is one of two IPOs this week to woo Indian investors. About 13 years ago, he took his previous company, Mindtree, to an IPO, and that issue was oversubscribed 103 times. Read more

Cold chain logistics required for Covid-19 vaccine distribution

Friday, September 11, 2020
As the vaccine for Covid-19 is getting ready putting together an efficient cold chain to deliver it to nook and corner of the country. From having community cold-chain networks to combining agricultural and medical cold chains wherever possible — many such ideas are abroad. A few hundred vaccine candidates are being developed globally, using different technology platforms. India, with 1.3 billion people, is the world’s largest vaccine maker. Some frontrunners are in advanced stages of trial and can hit the market early next year. Read more

India, China agree on 5-point plan to resolve standoff

Friday, September 11, 2020
The Indian Army and the Chinese People's Liberation Army(PLA) have been locked in a tense standoff in multiple areas along the Line of Actual Control(LAC) in eastern Ladakh since early May. The two countries agreed to a five-point plan for resolving the prolonged border face-off in eastern Ladakh that included abiding by all existing agreements and protocol on management of the frontier, maintaining peace and tranquility, and avoiding any action that could escalate matters. The plan was finalised during the talks between External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi in Moscow on Thursday evening on the sidelines of a Shanghai Cooperation Organisation (SCO) meet. Read more

Closing Bell:Sensex gains 14 points, Nifty at 11464.4

Friday, September 11, 2020
At Close, Sensex closed 14 points, or 0.04 per cent, up at 38,854.55 and Nifty closed 15 points, or 0.13 per cent, up at 11,464.45 with a positive bias on Friday. State Bank of India was the Sensex gainer followed by TCS, Tech Mahindra, Hindustan Unilever (HUL), Bajaj Finance, Kotak Mahindra Bank, Titan Company and Reliance Industries. Indusind Bank was the top loser followed by Power Grid Corporation of India, Bharti Airtel, Asian Paints, HDFC Bank, Maruti Suzuki and Nestle India. Nifty IT index was top sectoral gainer, up 1.29 per cent, followed by Nifty Realty index which gained 1.27 per cent. Nifty PSU Bank index gained 0.79 per cent while the Nifty FMCG index settled 0.63 per cent higher.BSE Midcap and Smallcap indices outperformed the benchmark Sensex, closing 0.58 per cent and 0.52 per cent higher, respectively. Except for Nifty Media index and Nifty Private Bank index, all the sectoral indices traded in the green today.

MARKET UPDATE:Volatile session-Sensex hovered around 38,760 points and the Nifty gave up the 11,450-mark

Friday, September 11, 2020
In Indian equity markets, the benchmark indices slipped into the red zone after giving up their modest opening gains in today's(11th Sept.2020) volatile session. The S&P BSE Sensex hovered around 38,760 points after falling around 150 points from the opening highs. The Nifty50 index also gave up the 11,450-mark. Titan, HDFC Bank, Kotak Mahindra Bank, and State Bank of India (all up 1%) were the top Sensex gainers. On the other hand, Reliance Industries slipped 0.9 percent after the company called the reports about Amazon's interest in Reliance Retail 'speculative'. The Nifty sectoral indices were trading largely in the green, led by the Nifty PSU Bank index, up 0.9 percent. In the broader market, both the S&P BSE MidCap and SmallCap indexes were trading half a percent higher. One hundred and four companies including IRCTC, BHEL, and Adani Green are scheduled to announce their quarterly earnings today.

Closing Bell:Sensex gains 646 points , Nifty at 11449.25

Thursday, September 10, 2020
At Close, Sensex closed 646 points, or 1.69 per cent, higher at 38,840.32 while Nifty logged a gain of 171 points, or 1.52 per cent, to settle at 11,449.25. Reliance Industries Ltd was the major gainer in the Sensex pack, followed by Asian Paints, Tata Elxsi, Granules India, Infibeam Avenues, Laurus Labs, Adani Gas and Adani Green Energy. All sectoral indices on NSE ended with gains except Nifty Metal, which was down 1.14% and Nifty Pharma ended the day flat. Nifty PSU Bank rallied the most up 2.5 per cent. BSE Midcap settled 0.92 per cent higher and the Smallcap index closed with a gain of 1.27 per cent. Volatility index, India VIX, declined over 4 per cent to 21.27 levels.

Govt short of finances as it tries to fix economy

Thursday, September 10, 2020
The latest numbers on the government’s fiscal deficit for the April-July 2020 period have exceeded the annual Budget target by 3 percent. In April-June 2020, the fiscal deficit had already risen to about 83 percent of the target for the full year. The figures on government finances are based on monthly reports released by the Controller General of Accounts (CGA). But what gets highlighted and discussed are the cumulative numbers for the latest period for which the data is released. A study of the monthly trajectory of the government’s revenues and expenditure, therefore, may present a slightly different picture, providing different takeaways for policymakers and observers of the Indian economy. Read more

Relief on NPAs extended after govt tells interest issue being looked into

Thursday, September 10, 2020
Today(10th Sept.2020)The Supreme Court of India extended its interim order that no account is to be declared NPA till further orders after the Centre said an expert panel has been set up to look into the issue of interest being charged by banks on instalments deferred during the moratorium period due to the COVID-19 pandemic. The top court was hearing a batch of pleas which have raised the issue of interest being charged on instalments which were deferred during the moratorium period due to the COVID-19 pandemic. The top court granted two weeks to the Centre and Reserve Bank of India (RBI) to file the affidavit and place before it the decisions taken in this regard. Read more

MARKET UPDATE:Sensex gained 440 points to 38,630 levels and the Nifty testing the 11,400-mark

Thursday, September 10, 2020
The Indian benchmark indices added to their opening gains and were trading over 1 percent higher in today's(10th Sept.2020) late morning session. The S&P BSE Sensex gained 440 points to 38,630 levels and the Nifty50 index was testing the 11,400-mark. IndusInd Bank (up 3%) was the top Sensex gainer. Meanwhile, Reliance Industries scaled a new lifetime high after gaining 2 percent amid reports that marquee investors including KKR, Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund (PIF) could be in line to pick stakes in the company's retail-arm Reliance Retail Ltd. All the Nifty sectoral indices were trading in the green, led by Nifty PSU Bank index, up 1.9 percent. In the broader markets, the S&P BSE MidCap and SmallCap indexes were trading 1 percent and 1.7 percent higher, respectively. Seventy-four companies including Hindustan Aeronautics and J&K Bank are scheduled to announce their June quarter results today.

Oxford Covid-19 vaccine trial on hold in UK after unexplained illness in volunteer

Wednesday, September 9, 2020
AstraZeneca Plc on Tuesday said it has stopped a late-stage trial of one of the leading Covid-19 vaccine candidates after an unexplained illness in a study participant which had reported in the United Kingdom. In a statement issued on Tuesday evening, the company said its "standard review process triggered a pause to vaccination to allow the review of safety data".AstraZeneca didn't reveal any information about the possible side effect except to call it "a potentially unexplained illness".It's likely the unexplained illness was serious enough to require hospitalization and not a mild side effect such as fever or muscle pain, said Deborah Fuller a University of Washington researcher who is working on a different COVID-19 vaccine that has not yet started human trails. The suspension of the trial has impacted other AstraZeneca vaccine trials - as well as clinical trials being conducted by other vaccine makers, which are looking for signs of similar reactions. Read more

Closing Bell:Sensex down 171 points, Nifty at 11278.00

Wednesday, September 9, 2020
At Close, Sensex ended 171 points, or 0.45 per cent, lower at 38,193.92 while Nifty settled 39 points, or 0.35 per cent, lower at 11,278 amid weak global clues. Tata Steel was the Sensex gainer, followed by RIL, Sun Pharma, Bharti Airtel, Asian Paints, Nestle India and Maruti Suzuki. State Bank of India was the most Sensex loser followed by Bajaj Finserv, Axis Bank, ONGC, ITC, Bajaj Finance, ICICI Bank, Kotak Mahindra Bank and HDFC Bank. Nifty PSU Bank index declined 2.87 per cent. The BSE Midcap and Smallcap indices closed 0.28 per cent and 0.94 per cent down, respectively. Among sectoral indices, Nifty Auto, Nifty Media, Nifty Metal and Nifty Pharma settled with gains.

MARKET UPDATE:Sensex slid 300 points to 38,060 levels and the Nifty gave up the 11,250-mark

Wednesday, September 9, 2020
Indian equity markets were dragged by over half a percent lower today(9th ASept.2020) mainly due to weak global cues, concerns over India-China tensions, and unwelcome news on the COVID front. The S&P BSE Sensex slid 300 points to 38,060 levels and the Nifty50 index gave up the 11,250-mark. ONGC and Tata Steel (both down 3 percent) were the top Sensex laggards. On the other hand, Reliance Industries rose 1 percent after announcing that Silver Lake would invest Rs 7,500 crore in Reliance Retail. Meanwhile, AstraZeneca Pharma tumbled 12 percent after the company "voluntarily paused" a randomized clinical trial of its coronavirus vaccine in what it called a routine action after a volunteer developed an unexplained illness. IRCTC shares also slid 4 percent in early deals after the company said the government plans to sell about 15-20 percent stake via offer for sale (OFS) and would like to complete the transaction in a minimum number of tranches. Read more

IRCTC shares gains 8 per cent on additional special trains and after reports government may sell 15-20% stake

Tuesday, September 8, 2020
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) gained 3 per cent to Rs 1,460 on the BSE on Tuesday, rising 7 % in the past two trading days on the operation of additional special trains with effect from Saturday, September 12. and also after media reports indicated that the government is planning to sell 15-20 per cent of its stake in the company via offer for sale (OFS). The stock hit a 52-week high of Rs 1,995 apiece in February this year since then the stock has corrected nearly 27 per cent. “Indian Railways to run additional 40 pairs of more special trains in addition to the Shramik specials and the special trains, w.e.f. 12th September 2020. These will be fully reserved trains. Tickets can be booked from 10th September 2020,” Ministry of Railways said.IRCTC reported a 79.3 per cent jump in net profit from a year ago. The company reported a net profit of Rs 150.6 crore, compared with Rs 84 crore a year ago. Read more

The bull-run in markets will continue:Goldman Sachs

Tuesday, September 8, 2020
Analysts at Goldman Sachs believe that, the market rally that started in March 2020 after hitting their lowest point 2020 has more legs, and cautions that there could be intermittent corrections along the way. "Markets, are in the first phase of a new investment cycle, which it calls a ‘Hope’ phase, following a deep recession. Investors, it says, start to anticipate a recovery in this phase and is typically the strongest part of the cycle, Goldman Sachs says. “That is what we have been seeing this year. The main triggers for the rebound, in our view, were a combination of slowing infection rates and extraordinary policy support. Financial conditions, which were tightening sharply in the early part of the lockdown, eased rapidly and governments implemented extraordinary fiscal support packages,” wrote, chief global equity strategist and head of macro research at Goldman Sachs in yesterday's report. Read more

Closing Bell: Sensex down 51.88 points, Nifty at 11317.35

Tuesday, September 8, 2020
At close, the Sensex was down 51.88 points or 0.14% at 38365.35, and the Nifty was down 37.60 points or 0.33% at 11317.40 with a negative bias on Tuesday amid selling in blue-chip counters. HCL Tech and Infosys were the top Sensex gainers followed by Reliance Industries, Tech Mahindra, TCS, HDFC Bank, Maruti Suzuki and Bajaj Auto. On the flip side, Tata Steel was the top Sensex loser followed by Bharti Airtel Axis Bank, ONGC, Sun Pharma, NTPC, State Bank of India. About 957 shares have advanced, 1695 shares declined, and 170 shares are unchanged. Except for the Nifty IT index, all the sectoral indices settled in the negative territory today.BSE Midcap and Smallcap indices shed 1-1.5 per cent.

India-China standoff: Firing takes place on LAC in eastern Ladakh sector

Tuesday, September 8, 2020
An incident of firing took place on the LAC in the Eastern Ladakh sector where troops of India and China have been engaged in a stand-off for over three months, according to sources, today(8th Sept.2020). India recently outflanked China by taking control of strategic height near Pangong lake's southern bank. It thwarted an attempt by the Chinese army to transgress into Indian areas near the southern bank of Pangong Tso near Chushul in Ladakh. India and China are engaged in a standoff since April-May over the transgressions by the Chinese Army in multiple areas including the Finger area, Galwan valley, Hot springs, and Kongrung Nala. The situation worsened after 20 Indian soldiers were killed in violent clashes with Chinese troops in Galwan valley in June. The talks between the two sides have been going on for the last three months including five Lieutenant general-level talks but have failed to yield any results, so far.

MARKET UPDATE:Sensex hovered around 38,400 levels;Nifty around 11,350-mark

Tuesday, September 8, 2020
The equity markets in India fluctuated between minor gains and losses today (7th sept.2020) despite firm cues from Asian indices as investors turned cautious on geopolitical concerns. According to reports, incidents of firing were reported overnight on the Line of Actual Control in Eastern Ladakh sector where troops of India and China have been engaged in a stand-off for over three months. The S&P BSE Sensex hovered around 38,400 levels, and the Nifty50 index was around the 11,350 mark. Powergrid (down 1%) was the top Sensex loser, followed by Nestle, Titan, and HDFC (all down over half a percent). Bharat Dynamics plunged 12 percent as the government is set to sell a 15 percent stake in the defense company through an offer for sale today and tomorrow at a floor price of Rs 330 per share. The trend among the Nifty sectoral indices was largely negative, with the Nifty PSU Bank index, down half a percent, leading the list of losers. Read more

Dixon Technologies shares hit new 52-week high, crosses Rs 10,000-crore in m-cap

Monday, September 7, 2020
Dixon Technologies, the largest electronic manufacturing services gained 4 per cent on the BSE on Monday to hit a record high of Rs 8,935 on the expectation of higher demand for consumer electronics. The company's market capitalisation crossed Rs 10,000 crore today after five straight days of gains. The stock surpassed its previous high of Rs 8,822, touched on August 28, 2020, on the BSE. The stock has skyrocketed 267 per cent from its 52-week low of Rs 2,433.20, hit in September last year. Dixon is well placed to cater to the business proposition and is well equipped to serve the export markets in select categories. It further said, that set-top box is emerging to be a big category for Dixon with Rs 8 bn-10 bn revenue potential in FY22 with volumes of 800k-1,000k per month driven by RJio, Dish TV and Siti Cable. Dixon continues to lead the government’s self-dependence measures to manufacture consumer durables. Read more

Closing Bell: Sensex gains 356 points, Nifty at 11355.05

Monday, September 7, 2020
At close, the Sensex was up 60.05 points or 0.16% at 38,417.23, and the Nifty was up 21.10 points or 0.19% at 11,355 amid high volatility. ITC and Hindustan Unilever were top Sensex gainers followed by TCS, Asian Paints, HDFC and Axis Bank. On the other hand, M&M was the top Sensex loser followed by Bajaj Finance, NTPC, UltraTech Cement, ONGC, Bharti Airtel and IndusInd Bank. About 1212 shares have advanced, 1461 shares declined, and 187 shares are unchanged. The Nifty Auto index fell nearly 0.5 per cent. Nifty Bank settled at 23,015 down 0.3 per cent. Nifty Realty index ended around 1 per cent lower at 218 levels. Nifty FMCG, Nifty IT and Nifty Media were the only indices that ended in the green with 0.57 per cent higher and rest of the sectoral indices settled in the negative territory.

MARKET UPDATE:Volatile session;Sensex down by 200 points around 38,150 levels;Nifty near 11,300-mark

Monday, September 7, 2020
The equity markets in India were trading lower in today's (7th sept.2020) volatile session, with financials and FMCG stocks pressuring the benchmark indices. The S&P BSE Sensex hovered around 38,150 levels, down 200 points, and the Nifty50 index was near the 11,300-mark. Titan, IndusInd Bank, and Maruti (all up 1%) were the top Sensex gainers. On the other hand, Mahindra & Mahindra dipped 2 percent. Vodafone Idea surged 10 percent ahead of the company's strategic announcement today. The Nifty sectoral indices were trading mixed, with the Nifty Bank index, down 0.5 percent, leading the list of losers. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading half a percent higher, each. Fifty-two companies are expected to report their earnings including CG Power, General Insurance Corporation of India, and Parag Milk Foods.

Vodafone Idea shares hit new 52-week high on fund-raising plan

Friday, September 4, 2020
Shares of Vodafone Idea gained 7 % for the third straight day, hitting a new 52-week high of Rs 13.45, on the BSE on Friday ahead of the company's board meeting today to consider fundraising plan. The stock has jumped 51.29 % in three sessions. The board will discuss and possibly finalise fund-raising proposals, a few days after the Supreme Court verdict gave telecom companies 10 years to clear their gross revenue (AGR) dues. The board at the meeting will “consider and evaluate any and all proposals for raising of funds in one or more tranches by way of a public issue, preferential allotment, private placement, including a qualified institutions placement or through any other permissible mode and/or a combination thereof by way of issue of equity shares or by way of issue of any instruments,” the filing had said.Yesterday, the stock gained 25 % on the back of the media reports which suggested retailer Amazon and Verizon may invest more than $4 billion for a stake in the company. Read more

Closing Bell:Sensex down 634 points, Nifty at 11333.90

Friday, September 4, 2020
At close, the Sensex was down 633.76 points or 1.63% at 38357.18, and the Nifty was down 193.60 points or 1.68% at 11333.90 amid across-the-board sell-off seen in metal, pharma, banks. The volatility index, India VIX, rose over 7 per cent to 21.95 levels. Maruti Suzuki India, Bajaj Auto, Zee Entertainment, TCS, and Bajaj Finance were the major gainers in the Sensex pack, while SBI, ICICI Bank, Axis Bank, Tata Steel and Kotak Mahindra Bank were top losers. About 1002 shares have advanced, 1674 shares declined, and 177 shares are unchanged. Metal index down 3 per cent. Nifty Bank dipped nearly 2 per cent.BSE Midcap and Smallcap indices ended 1-1.7 per cent lower. All the Nifty sectoral indices ended in the red.

MARKET UPDATE:Sensex tanks 450 pts, Nifty below 11,400

Friday, September 4, 2020
The equity markets in India today(4th September 2020), in tune with the overnight plunge in the US markets, were trading over one percent lower amid across-the-board selling. The S&P BSE Sensex dipped 456 points, or 1.17 percent, to 38,560 levels and the Nifty50 index gave up the psychological level of 11,400. ICICI Bank, State Bank of India, and IndusInd Bank, all cracked 2 percent each and were the top Sensex losers. All 30 constituents of Sensex were trading in the red. All the Nifty sectoral indices were painted red, led by the Nifty Bank index which fell 2.5 percent. The broader markets mirrored the losses in the benchmarks, with both the S&P BSE MidCap and SmallCap indexes trading with nearly one and a half percent cut. Sixty-eight companies including Nalco, Future Retail, and Jubilant Life Sciences, are scheduled to announce their June quarter earnings today.

Aviation stocks rise as Govt allows airline to operate at 60% capacity

Thursday, September 3, 2020
Shares of two listed aviation companies - InterGlobe Aviation and SpiceJet – rallied up to 5 % on the BSE on Thursday after the government allowed domestic airlines to increase flights up to 60 per cent of their total capacity. Shares of IndiGo jumped to trade at Rs 1,306 per share and SpiceJet, the other private listed carrier was trading at a high of Rs 53.7 per share. Up till now, airlines were operating at 45 per cent of their pre-COVID level capacity. Indian airlines resumed domestic operations from May 25 after being grounded for two months due to the lockdown to contain the Covid-19 pandemic. Air travel was the safest mode of transport due to its controlled access and complete traceability at departure, transit, and arrival."While this move is sentimentally positive for airline companies, we believe that demand will remain muted in the near future and is expected to pick up post the festive season and maintain a neutral rating on the sector," said Angel Broking. Read more

Verizon, Amazon may invest over $4 billion in Vodafone Idea

Thursday, September 3, 2020
Verizon Communications Inc(US wireless carrier) and Amazon.com Inc may invest more than $4 billion for a stake in India's Vodafone Idea Ltd, the Mint newspaper reported today (3rd Sept.2020), sending shares of Vodafone Idea up 10 percent. Vodafone Idea's stake-sale talks had been paused pending the outcome of a court hearing in India, which created uncertainty and could have threatened Vodafone Idea's survival, Mint reported, citing two unnamed people aware of the negotiations. But Amazon and Verizon are set to resume discussions following a Supreme Court ruling on Tuesday which gave mobile carriers 10 years to settle government dues.

India's Q2- 2020 GDP growth most affected among G-20 countries

Thursday, September 3, 2020
IMF chief economist Gita Gopinath yesterday(2nd Sept.2020) tweeted a graph suggesting India's gross domestic product (GDP) may have shrunk the most among G-20 countries in the April-June quarter, at 25.6%, when compared with the previous quarter. In her tweet, accompanying the graph, Gopinath said, “In #GreatLockdown Q2 (June quarter) 2020 GDP growth at historical lows. The graph puts G20 growth numbers on a comparable scale, quarter-on-quarter non-annualised. Should expect rebounds in Q3 (September quarter) but 2020 overall will see major contractions. China recovers strongly in Q2 after a collapse in Q1 (March quarter)." The chart shows all countries except China registering GDP contraction. While China's economy is shown to have expanded by a robust 12.3 percent over the March quarter on a non-annualised basis, the UK is the most affected after India, with a GDP contraction of 20.4 percent. The US economy is shown to have shrunk 9.1 percent on a quarterly basis. Read more

Closing Bell:Sensex down 95.09 points, Nifty at 11527.45

Thursday, September 3, 2020
At Close, Sensex is down 95.09 points or 0.24% at 38990.94, and the Nifty down 7.50 points or 0.07% at 11527.50 after fluctuating between minor gains and losses during the session. Titan was the top gainer in the Sensex pack, followed by Tech Mahindra, Grasim Industries and Nestle India. while losers were Bharti Airtel, ICICI Bank, Hindalco Industries, Axis Bank and Kotak Mahindra Bank. About 1452 shares have advanced, 1199 shares declined, and 176 shares are unchanged. MidCap index ended 0.4 per cent higher at 15,079 levels while BSE SmallCap index settled at 14,761 points, up 0.74 per cent. The volatility index, the India VIX slipped 2.75%. Buying seen in the IT, pharma, auto and FMCG pack, while bank and metal remained under pressure.

MARKET UPDATE:Sensex rose 70 points to 39,150 levels and the Nifty testing 11,600-mark

Thursday, September 3, 2020
The equity markets in India were trading flat with a positive bias today(3rd September 2020), amid favourable cues from other Asian markets. The S&P BSE Sensex rose 70 points, or 0.18 percent, to 39,150 levels and the Nifty50 index was testing the 11,600-mark. Mahindra & Mahindra, Larsen & Toubro, and Bajaj Auto (all up 1%) were the top Sensex gainers. On the other hand, Bajaj Finance and ICICI Bank slipped 1 percent each. Among other individual stocks, aviation stocks were flying high after the central government permitted Indian airlines to increase the number of passenger flights to 60 percent of their pre-COVID capacity. The trend among Nifty sectoral indices was mixed, with the Nifty Auto index, up 1 percent, leading the list of gainers. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading half a percent higher, each. Read more

Amazon adds gold, insurance services to its menu of financial services in India

Wednesday, September 2, 2020
Amazon.com Inc has added insurance and gold to its menu of financial services in India, to expand its customer base and attract more subscribers to its Prime loyalty programme. The push ramps up the competition as financial technology (fin-tech) rivals and their deep-pocketed foreign backers struggle for profitability in a predominantly cash-based economy where about 190 million adults do not have bank accounts. To boost online payments, Amazon launched its Amazon Pay digital wallet in 2016. It has since introduced a credit card, signed up to a state-backed payments network, and processes payments for movie and flight tickets as well as telephone and utility bills. It began offering auto insurance in July and gold investment products in August - both a first for Amazon. Read more

IndiaMART InterMESH gains 98% in 2 months

Wednesday, September 2, 2020
Shares of IndiaMART InterMESH gained 9 per cent, hitting a new high of Rs 4,189, on the BSE in the intra-day trade on Wednesday on the expectation of strong earnings outlook . The stock was trading higher for the third straight day in an otherwise weak market.In the past two months, the stock has gained 98 per cent reporting strong operational performance for the quarter ended June 2020. The leading E-commerce company caters to the business-to-business model and has seen rapid growth since getting listed on the stock exchanges a year ago. It has disinvested 70 per cent stake in the equity share capital of 10 times to Mayank Chowdhary and Atul Todi for Rs 21.17 lakh.IndiaMART is a dominant market leader in the online B2B Classifieds industry with over 70% market share, catering to a large audience spread over 1000 cities. Total revenue from operations during the quarter grew 4 per cent year on year (YoY) at Rs 153 crore. Read more

GOI puts Rs 2 crore cap on exports promotion scheme

Wednesday, September 2, 2020
The government has capped benefits at Rs 2 crore for each business on trade done between September 1 to December 31, sparking protests against the "unilateral step" under its biggest exports promotion scheme A Commerce Department notification released yesterday (1st sept.2020) said that all benefits under the Merchandise Exports of India Scheme (MEIS) will stop from January 1, 2021, effectively confirming the end date of the scheme. The department argued that the advance notice of four months of the end date of MEIS provides certainty for future pricing decisions. Read more

Closing Bell:Sensex gains 185 points, Nifty at 11535.00

Wednesday, September 2, 2020
At Close, Sensex gained 185 points or 0.48 per cent, higher at 39086.03 and Nifty settled 72.70 points, or 0.56 per cent higher at 11535.00 for the second consecutive session. Power Grid, Reliance Industries, and Mahindra & Mahindra were the top index gainers while Bajaj Auto, Sun Pharma, and Axis Bank were the top losers. Shares of Vodafone Idea jumped 14 per cent after the company announced a board meeting on September 4 to consider fundraising. The BSE MidCap index was trading 0.7 per cent higher and the SmallCap index gained 2 per cent. The oil & gas, Metal and IT indices gained over a per cent.

MARKET UPDATE:Sensex hovered around 38,870 levels and the Nifty trading near 11,490-mark

Wednesday, September 2, 2020
The equity markets in India were trading flat on today(2nd September 2020). Among the benchmark indices, the S&P BSE Sensex hovered around 38,870 levels and the Nifty50 index was trading near 11,490-mark. ONGC gained over 2 percent after the announcement of its June quarter results and was the top Sensex gainer in the early deals. UltraTech Cement, Tech Mahindra, and Tata Steel (all up 1%) were the other top gainers. On the other hand, Bajaj Auto and Kotak Mahindra Bank dipped 1 percent each. Shares of Vodafone Idea leaped 14 percent after the company announced a board meeting on September 4 to consider fundraising. The trend among Nifty sectoral indices was mixed, with the Nifty PSU Bank index, down 0.9 percent, being the major drag. In the broader market, the S&P BSE MidCap index was trading 0.7 percent higher and the SmallCap index was ruling 1 percent up. Read more

Bharti Airtel jumps 7 percent, Voda Idea tanks 20 per cent after AGR Dues Verdict

Tuesday, September 1, 2020
Shares of Bharti Airtel Ltd. gained 7 per cent to Rs. 555, a biggest single-day gain since May, while Vodafone Idea Ltd. hit a lower circuit of 20 per cent after the Supreme Court granted telecom operators 10 years to pay thousands of crores worth of pending dues. The apex court said telcos should pay 10 per cent of the AGR-related dues by March 31, 2021. It further added that every year by February 7 a payment has to be made. The chairmen of the telecom companies will have to give undertakings for payments, according to an order by the three-judge panel headed by Justice Arun Mishra. Default on payment instalments will invite interest, penalty and contempt of court. According to the DoT’s calculations, Bharti Airtel owes the exchequer Rs 43,780 crore, of which the company has paid Rs 18,004 crore. Vodafone Idea has paid Rs 7,854 crore of its Rs 50,399 crore dues.Market experts think the ruling will certainly put pressure on Vodafone Idea which owes more than Rs 50,000 Read more

Rupee the new inflation-fighting tool?

Tuesday, September 1, 2020
When all most of us are worried about interest rates and how The RBI is fighting a spike in bond yields, it has quietly sent a message on its currency policy. It can’t handle the `impossible trinity’ anymore. This may well be the turning point in the adoption of policy tools. In a note announcing the `Measures to Foster Orderly Market Conditions’, the central bank has slipped in a message that it is worried about inflation and it won’t hesitate to use measures other than interest rates to fight price pressures. The recent appreciation of the rupee is working toward containing imported inflationary pressures,’’ said RBI in the note, which was dominated by measures to contain the bond market volatility. When RBI openly accepts that currency appreciation is helping achieve one of its key goals of inflation management when its hands are tied, it is an acknowledgment that the objective of currency operations has evolved beyond just tempering the volatility. Read more

Supreme Court gives telcos 10 yrs to pay AGR dues

Tuesday, September 1, 2020
Today (1st September 2020) the Supreme Court allowed the companies to clear their adjusted gross revenue (AGR) dues in ten years and begin by making an upfront payment of 10 percent of the total dues. Telecom companies have to give an undertaking for paying the AGR dues as per the SC order. The payment timeline begins from April 1, 2021, and the first installment needs to be paid before March 31, 2021. In a stern message to the telecom companies, SC said that any default in payment would invite interest, penalty, and contempt of court. According to the DoT’s calculations, Bharti Airtel owes the exchequer Rs 43,780 crore, of which the company has paid Rs 18,004 crore. Vodafone Idea has paid Rs 7,854 crore of its Rs 50,399 crore dues. Tata Teleservices has paid about Rs 4,197 crore and the balance is about Rs 12,601 crore. Read more

Closing Bell: Sensex gains 273 points, Nifty at 11470.25

Tuesday, September 1, 2020
At Close, Sensex gained 273 points, or 0.71 per cent, higher at 38,900.80 and Nifty settled 83 points, or 0.73 per cent higher at 11,470.25. Bharti Airtel shares surged to become the top Sensex gainers. Vodafone Idea tanked as much as 20 per cent. ONGC, Axis Bank, and ICICI Bank were the other drags.Mid-caps outperformed as their sectoral index on BSE closed 1.16 per cent higher. BSE Smallcap index closed 0.54 per cent up. The metal stock jumped over 3 per cent. Power and Healthcare rose up to 3 per cent. IT, oil & gas ended in the red.

MARKET UPDATE:Sensex climbed 450 points to reclaim 39,000-level and Nifty testing the 11,500-mark

Tuesday, September 1, 2020
The historic fall in Q1 GDP growth did not dampen the sentiment of investors who sent the benchmark indices near a percent higher in today's (1st September 2020) early deals ahead of the Supreme Court's verdict on AGR. The S&P BSE Sensex climbed 350 points, or 0.92 percent, and reclaimed the 39,000-level and the Nifty50 index was testing the 11,500-mark. IndusInd Bank (up 4%), Tata Steel, State Bank of India, and Bajaj Finance (all up 2%) were the top Sensex gainers. On the other hand, ONGC dipped 3 percent. The Supreme court is set to deliver decisions on three key issues: the tenure for staggered payment of AGR dues, whether or not Reliance Jio has to pay the hefty AGR dues bill of Rcom, and Bharti Airtel, that of Aircel and Videocon. And three, whether banks can, as creditors, transfer spectrum to a new buyer under IBC, without first taking cognizance of the dues of the government. Read more

Wockhardt locks 5 % down post Q1 profit

Monday, August 31, 2020
Shares of Wockhardt were locked in the 5 per cent lower circuit band at Rs 312.55 on the BSE on Monday despite reporting a consolidated net profit of Rs 759.75 crore for June quarter. The company had posted a net loss of Rs 36.88 crore for April-June 2019-20. The main reason for reporting profit is on account of exceptional items in connection with the transfer of a business comprising 62 products and Baddi facility to Dr Reddy's Laboratories. Total income stood at Rs 606.22 crore in the quarter under review. It was Rs 733.66 crore in the year-ago period, the filing added. Wockhardt launched a new chemical entity (NCE) during the quarter in the Indian pharma market. Products have been launched under the tablet and injection category under the brand name 'Emrock O and Emrock'.It said that divestment of business undertaking to Dr Reddy's Laboratories was accomplished during the quarter and Rs 1,483 crore has been received towards the same. Read more

Factors that contributed for the market correction today

Monday, August 31, 2020
After an initial short rally today morning that took the S&P BSE Sensex to day’s high of 40,010.17, the markets lost ground as trade progressed. The S&P BSE Sensex lost over 1,200 points in intra-day trade to hit a low of 38,714.43 as trade progressed. At around 2:45pm, the 30-share index was trading nearly 1,050 points, or 2.7 percent, lower at 38,465 levels. It, however, recouped some losses and closed 839 points, or 2.1 percent, lower at 38,628 levels. Major factors that led to the market fall today are: Read more

Closing bell:Sensex tanks 839 points, Nifty at 11387.50

Monday, August 31, 2020
At Close, Sensex ended lower by 839.02 points or 2.13 per cent at 38628.29, and the Nifty down 284.40 points or 2.44 per cent at 11387.50 amid India-China border tension. Reliance Industries (RIL) was the biggest contributor to the index's loss, followed by ICICI Bank, Sun Pharma, SBI, Bajaj Finserv and Bajaj Finance and HDFC. Metals, pharma and the PSU Bank index tumbled over 4 per cent while the midcap index down 3 per cent. India VIX jumped over 24 per cent to 22.84 levels. Except Nifty IT all other sectoral indices ended with losses.

MARKET UPDATE:Sensex zooms 400 points to 39,870 levels and Nifty hovered around 11,780 levels

Monday, August 31, 2020
Equity markets in India today(31st August 2020) gained one percent in early deals, lifted by financials, ahead of the release of Q1 GDP data later in the day. Among the benchmark indices, the S&P BSE Sensex was trading 400 points higher at 39,870 levels after briefly reclaiming the psychological level of 40,000, earlier in the session. The Nifty50 index hovered around 11,780 levels. IndusInd Bank (up 5%, Axis Bank, ONGC, and HDFC Bank (all up 2%) were the top Sensex gainers. On the other hand, Bharti Airtel dipped 1 percent. Reliance Industries rose 2 percent and Future Retail surged as much as 20 percent after Reliance Industries announced the acquisition of retail & wholesale business and the logistics & warehousing business of the Future Group. The majority of the Nifty sectoral indices were trading in the green, led by the Nifty Bank index, up 1.5 percent. Read more

Axis Bank, ICICI Bank, and State Bank of India lifted the markets

Friday, August 28, 2020
Axis Bank, ICICI Bank, and State Bank of India-some of the Bluechip financial counters-lifted the markets today as analysts turn positive on the sector. That apart, August Futures and Options (F&O) series, which ended on August 27, saw strong participation from the banking sector underlying optimism in the space. According to global brokerage UBS, the economy is recovering gradually, as suggested by high-frequency data, lowering the risks of bad loan formation. "The recent capital infusion (over US$10bn) in some banks/non-banking financial companies (NBFC) would be an additional cushion. We cut our FY21/FY22 estimates for GNPL formation from 7%/5% to 4%/5% of loans. Bank stocks are down 12-62% YTD and have underperformed the broader markets. We think the sector’s downside risks are limited," they said in a recent report. Read more

Closing Bell:Sensex gains 350 points, Nifty at 11647.60

Friday, August 28, 2020
At Close, Sensex is up 353.84 points or 0.9 per cent at 39467.31, and the Nifty jumped 88.30 points or 0.76 per cent at 11647.60 for the sixth consecutive session led by financial counters.IndusInd Bank gained the most followed by Axis Bank, State Bank of India and ICICI Bank. Powergrid, Maruti, Infosys were the top drags. Among the sectors, the banking index jumped 4 per cent while the midcap index added half a per cent. Nifty Auto shed over half a per cent while the metal index ended in the red. Volatility slipped 3.44% during the day’s trade.

Is Golden era for Bank Fixed Deposits gone forever?

Friday, August 28, 2020
As the interest rate on bank deposit continues to be subdued and real returns turn negative in the wake of rising inflation, the common Indian bank depositor has been left rueing a bitter harvest. At stake is the future of a time-tested investment instrument that generation after generation of Indians used to keep their money in and generate fairly decent returns over time. Bank fixed deposit (FD) rates have fallen from 8-10 percent per annum a few years ago to 5-7 percent per annum currently, says Jimmy Patel, MD & CEO, Quantum Mutual Fund. For most of India's senior citizens, FDs are the primary investment, and current rates are not viable because of paltry real returns, he adds. Read more

MARKET UPDATE:Sensex up 220 points at 39,334 levels and Nifty topped the 11,600-mark

Friday, August 28, 2020
Equity markets in India today(28th August 2020) were trading firm, up to half a percent, on the first day of the September F&O series, with financials contributing majorly to the gains. The S&P BSE Sensex was trading 220 points up at 39,334 levels and the Nifty50 index topped the 11,600-mark. Axis Bank (up 4%) and Larsen & Toubro (up 2%) were the top Sensex gainers. GMR Infra shot up 10 percent after the company said the Group would separately list its airport business. The trend among Nifty sectoral indices was positive, led by the Nifty Bank index, up 2 percent. In the broader market, the S&P BSE MidCap was trading 0.8 percent higher and the SmallCap index was up 0.4 percent. Eighty-one companies, including Khadi India, and Archies, are scheduled to announce their June quarter results today.

HAL share tanks 15 % as Government to sell up to 15% stake

Thursday, August 27, 2020
Shares of Hindustan Aeronautics tanked 15 % on the BSE on Thursday, after the company informed that the government plans to sell as much as 15 % stake in the company through a public offering of shares in the next two days. which will help it mop up about Rs 5,000 crore at a time when its finances have been stretched due to the ongoing pandemic. The government is selling its stake at a floor price of Rs 1,001 per share through an offer for sale (OFS). The offer could fetch the exchequer around Rs 5,020 crore. The government proposes to sell 3,34,38,750 equity shares representing 10 per cent paid-up share capital of the company, with an option to sell an additional 5 per cent stake or 1,67,19,375 equity shares. A total of 20 per cent of the offered size will be reserved for retail investors, and they will be allocated offer shares at a discount of 5 per cent to the cut-off price in accordance with the OFS guideline. The government holds about 90% in HAL post its IPO in 2018.

Indian equities may continue to rise in anticipation of the ensuing recovery

Thursday, August 27, 2020
Reduced pessimism around Covid-19, Global stimulus, and significant reform expectation from the Indian government is keeping Indian market sentiments positive. Many of the concerns around banking, real estate, and the economy itself, should sort themselves out over the next 24 months. Notwithstanding the usual market gyrations, Indian equities may continue to rise in anticipation of the ensuing recovery. Investors must use this opportunity to build a high-quality portfolio for the next big upcycle. The following are a few stocks that may perform well in this direction as per Amar Ambani, Partner and Head of Research, Yes Securities ( Source: Economic Times). Read more

Closing Bell: Sensex gains 40 points,Nifty at 11559.25

Thursday, August 27, 2020
At Close, Sensex closed 40 points, or 0.10 per cent, up at 39,113.47 and Nifty settled 10 points, or 0.84 per cent, up at 11,559.25 in green for the fifth consecutive session on August 27, supported by gains in select heavyweight Stocks. IndusInd Bank was the top Sensex gainer, followed by M&M, SBI, HDFC, Axis Bank, Maruti Suzuki and Sun Pharma. On the contrary, ONGC, Bajaj-Auto, Reliance Industries, Kotak Mahindra Bank and Bharti Airtel were among top Sensex losers.BSE Energy fell over a per cent. BSE Realty surged 6.63 per cent.BSE Midcap index closed flat while the Smallcap index ended 0.35 per cent higher. Barring Nifty FMCG index and Nifty IT, all the sectoral indices finished in green today.

MARKET UPDATE:Sensex up 200 points at 39,260 levels and Nifty reclaimed the 11,600 level

Thursday, August 27, 2020
The markets in India today(27th August 2020) rose half a percent ahead of the expiry of the August series derivative contracts. The S&P BSE Sensex was up 200 points at 39,260 levels, and the Nifty50 index reclaimed the crucial psychological level of 11,600. IndusInd Bank (up 2%) was the top Sensex gainer, followed by HDFC (up 1%). Hindustan Aeronautics tanked 11 percent in early deals after the company said that the government plans to sell as much as 15 percent stake in the company through a public offering of shares. The trend among Nifty sectoral indices was positive, led by the Nifty Bank index, up 0.9 percent. The broader markets tracked the benchmarks' gain, with the S&P BSE MidCap and SmallCap indices trading 0.6 percent higher, each. Fifty-one companies including NMDC and Avanti Feeds are scheduled to announce their June quarter results today.

Setting up a bad bank is not just necessary but unavoidable:Former RBI Governor

Wednesday, August 26, 2020
D Subbarao, the former RBI Governor, feels that setting up a bad bank is not just necessary but unavoidable in the present circumstances when NPAs are likely to balloon and much of the resolution will have to take place outside the IBC framework. The standard advantage of a bad bank is that the entity taking a decision on the sale price is different from the entity accepting that price. Conflict of interest and corruption is avoided, and importantly, is seen to be avoided. The former RBI Governor noted that with the economy contracting by at least five percent this fiscal year, non-performing assets (NPAs) will balloon. Also, according to RBI's Financial Stability Report, gross NPAs of banks may rise to 12.5 percent by March 2021 under the baseline scenario, from 8.5 percent in March 2020. Read more

JMC Projects secure new order worth Rs554cr in building and factory business

Wednesday, August 26, 2020
Shares of JMC Projects, One of the leading Civil Engineering and EPC company gained 16.2 per cent to Rs 62.2 apiece on the BSE on Wednesday after the company bagged new project orders worth Rs 554 crore. Among these, project worth Rs 315 crore was a 'Building Project' in South India, while Rs 239 crore worth project was a 'Factory Project' in Maharashtra. We are delighted with the new order wins especially in our Buildings & Factory (B&F) business. These new orders will strengthen our portfolio and will help us further expand our client base in the B&F market. JMC has won orders of around Rs 4,000 crore till date in FY21 despite the challenging market conditions, demonstrating JMC’s impeccable reputation for domain expertise, prudent tendering and client confidence," said S. K. Tripathi, CEO & Dy. Managing Director. Also, he added, Our execution capabilities and strong order book give us the confidence to deliver good performance going forward.” Read more

Closing Bell:Sensex gains 230 points, Nifty ends at 11549.60

Wednesday, August 26, 2020
At close, the Sensex was up 230.04 points or 0.59% at 39073.92, and the Nifty was up 77.30 points or 0.67% at 11549.60 led by auto, banks. Tata Motors, Hero Motocorp, IndusInd Bank, Zee Entertainment and Reliance Industries were major gainers on the Sensex Index. while losers were Bharti Airtel, UltraTech Cement, Britannia Industries, Asian Paints and Maruti Suzuki. About 1528 shares have advanced, 1105 shares declined, and 124 shares are unchanged. Nifty Auto index, up 1.6 per cent.BSE MidCap, as well as the SmallCap index, were both up 0.5 per cent each. Buying witnessed in the auto, bank, energy, metal and IT stocks.

MARKET UPDATE:Sensex flat, Nifty around 11,500

Wednesday, August 26, 2020
The markets in India today(26th August 2020) were trading flat with a positive bias, on the back of mixed global cues. The S&P BSE gained 72 points at 38,910 levels and the Nifty50 index hovered around 11,500-mark. Bajaj Auto (up 3%) was the top Sensex gainer, followed by PowerGrid, Mahindra & Mahindra, and Bajaj Finserv (all up 2% each). On the other hand, Bharti Airtel dipped 1 percent in early deals. Can Fin Homes surged 8 percent after announcing its June quarter results. All the Nifty sectoral indices were trading in the green, led by the Nifty Auto index, up 1.6 percent. In the broader market, the S&P BSE MidCap as well as the SmallCap index were both up 0.5 percent each. Thirty-one companies, including Indraprastha Gas and Gillette India, are scheduled to announce their June quarter results today.

Indian economy will take longer to recover: RBI

Tuesday, August 25, 2020
stimulus measures once the cure to Covid-19 is found, the report adds. High-frequency indicators so far pointed to a “retrenchment in activity that is unprecedented in history,” the annual report said, adding, “the improvements that became visible in May and June after the lockdown was eased in several parts of the country, appear to have lost strength in July and August, mainly due to reimposition or stricter imposition of lockdowns, suggesting that contraction in economic activity will likely prolong into the second quarter.” The central bank noted that the shock to consumption is severe, and it will take quite some time to mend and regain the pre-pandemic momentum. Read more

Tata Motors share price up nearly 6% as Company will cut consolidated debt to zero in 3 years

Tuesday, August 25, 2020
Shares of Tata Motors gained 6 per cent to Rs. 128.35, On Tuesday after the company said it proposed to reduce its debt to near-zero levels. At the annual general meeting of the Tata Motors on August 25, N Chandrasekaran, Chairman of the Tata Group said, currently the TML group has a net automotive debt of Rs 48,000 crore and currently we are deleveraging this business substantially. The target is to bring it to near zero debt levels in the next three years.JLR would be cash-positive this year, while India PV business was being subsidised to a new legal entity, Tata Motors CFO said at the AGM. The new company’s models like the Nexon, Altroz and Harriers have been received well in India and show investments have started paying off. Tata Motors overtook Mahindra & Mahindra (M&M) to third place in terms of vehicles registered in July over the year-ago period.

Closing Bell:Sensex up 45 points, Nifty at 11472.25

Tuesday, August 25, 2020
At close, the Sensex was up 44.80 points or 0.12% at 38843.88, and the Nifty was up 5.80 points or 0.05% at 11472.30. Bajaj Finance was the top Sensex gainer, followed by State Bank of India (SBI), Tech Mahindra, Tata Motors, Asian Paints, Bajaj Finserv and IndusInd Bank. On the other hand, NTPC, Sun Pharma, Nestle India, Tata Steel, L&T and Infosys were among top Sensex losers. About 1192 shares have advanced, 1419 shares declined, and 104 shares are unchanged. Nifty PSU Bank index jumped 1.34 per cent and Nifty Financial Services gained 0.91 per cent. While Nifty Metal index fell 0.74 per cent, Nifty Pharma 0.62 per cent and the Nifty FMCG index declined over half a per cent.BSE Midcap and Smallcap ended 0.7 and 0.8 per cent higher, respectively. Among sectors, except bank and auto, other indices ended in the red.

MARKET UPDATE:Indices at 6-month high;Sensex up 166 pts to 38,960 levels, Nifty reclaimed 11,500-level

Tuesday, August 25, 2020
The markets in India today(25th August 2020) rose half a percent to the highest level in the last six months, due to firm global cues. The S&P BSE Sensex was up 166 points, or 0.43 percent, at 38,960 levels and the Nifty50 index reclaimed the psychological level of 11,500. IndusInd Bank (up 2%) was the top Sensex gainer, followed by State Bank of India, Axis Bank, and Asian Paints (all up 1%). Max Financial Services surged 10 percent after Axis Bank said it has reduced the size of the stake that it plans to buy in Max Life Insurance to 17 percent from 29 percent. All the Nifty sectoral indices, except Nifty IT index, were trading in the green, led by Nifty PSU Bank index, up 1 percent. The broader markets, once again, outperformed the benchmarks, with the S&P BSE MidCap and SmallCap indexes trading 0.7 and 0.8 percent higher, respectively. Seventy-six companies including Can Fin Homes, Atul Auto are scheduled to announce their June quarter results today.

Direct tax collections from metros sees double-digit decline

Monday, August 24, 2020
With most top Indian cities witnessing double-digit contraction in receipts, direct tax collections are likely to remain muted in the second consecutive quarter of the current fiscal year. Kolkata emerged the worst-affected metro city, reporting a drop of 60 percent in the mop-up during April-August 20. It was followed by Chennai and Delhi, which saw a decline of 41 percent and 36 percent, respectively. Mumbai was, however, one of the least-affected regions, though the collection was down there too. Mumbai, which has the highest share of 34 percent in overall direct tax collections, witnessed a drop by 13 percent, despite accounting for an ever-growing share of total Covid-19 cases. Read more

Adani Group to obtain 74% stake in Mumbai International Airport

Monday, August 24, 2020
Shares of Adani Group companies rallied up to 9 per cent on Monday after the Company is set to acquire a 74 per cent stake in Mumbai International Airport (MIAL) for nearly Rs 15,000 crore, which operates the country’s second-largest airport, with the current operator settling its disputes with its minority partner and exiting the venture. Adani Green Energy surged 9.35 per cent to Rs 411.90 on the BSE while Adani Enterprises gained 4.13 per cent at Rs 242.85. Besides, Adani Power, Adani Ports and Special Economic Zone, and Adani Gas rose in the range of 1-2 per cent. Adani Group might acquire the 50.5 per cent stake of GVK Group in MIAL and will buy the remaining 23.5 per cent from the minority partners, Airports Company South Africa (ACSA) and Bidvest Group.ACSA and Bidvest hold 10 and 13.5 per cent stake, respectively, in MIAL. The deal with MIAL would make Adani the largest private airport operator in India, after the GMR Group, which operates the Delhi and Hyderabad airports. Read more

Closing Bell:Sensex gains 364 points, Nifty at 11466.45

Monday, August 24, 2020
At close, the Sensex was up 364.36 points or 0.95% at 38799.08, and the Nifty was up 94.90 points or 0.83% at 11466.50 led by buying in private banks, and finance stocks. Kotak Mahindra Bank and IndusInd Bank were top gainers followed by Bajaj Finance, HDFC Bank and Zee Entertainment. Powergrid, Mahindra & Mahindra, and Tech Mahindra were the worst-performing stocks on Sensex. About 1500 shares have advanced, 1109 shares declined, and 136 shares are unchanged. All sectoral indices, except Nifty Pharma and Nifty IT, were trading with gains.BSE Midcap and Smallcap indices rose 0.4 per cent and 1.6 per cent respectively.

MARKET UPDATE:Sensex climbed 206 pts to 38,640 levels, Nifty topped 11,400-mark

Monday, August 24, 2020
The markets in India climbed half a percent today(24th August 2020), lifted mainly by financials. The S&P BSE Sensex rose 206 points, or 0.5 percent, to 38,640 levels and the Nifty50 index topped the 11,400-mark. Kotak Mahindra Bank gained the most 2 percent, followed by HDFC Bank, IndusInd Bank, and State Bank of India (all up 1 percent each). On the stock-specific front, Gautam Adani-led Adani Group gained 3 percent as it is set to acquire a 74 percent stake in Mumbai International Airport with the current operator settling its disputes with its minority partner and exiting the venture. The Nifty sectoral indices were largely in the green, led by the Nifty Bank index, up 1.4 percent. The broader markets continued their outperformance with the S&P BSE MidCap and SmallCap indexes ruling 0.6 percent and 1 percent higher, respectively. Read more

Public Sector Banks face fresh capital shortages as coronavirus aftermath: Moody's

Friday, August 21, 2020
Public sector banks in India will need external capital injection of Rs 1.9-2.1 trillion over the next two years to restore loss absorption capacity, according to Moody’s. The most likely source of capital to plug these capital shortfalls is the government, despite its completion of a large recapitalisation just a few months ago. Uncertainty surrounding India's economic recovery and the ongoing clean-up of balance sheets are making it difficult for banks to raise equity capital from markets, the rating agency said in a statement. "PSBs dominate India's banking system, meaning any failure could jeopardise financial stability Moody’s, said. The sharp slowdown in India's economic growth, exacerbated by the coronavirus outbreak, will hurt public sector banks' (PSBs) asset quality and drive up credit costs. The Non-Performing Loans (NPLs) ratio will rise to 14.5 percent by March 2022 from 11 percent as of March 2020.

Coming soon:Single e-compliance window for India Inc

Friday, August 21, 2020
GOI is planning to develop a single online compliance framework for India Inc to enable companies to comply with different regulatory requirements at one go, according to sources. This will reduce compliance burden,” as per the source.The corporate affairs ministry has initiated discussions with various regulators including the RBI, Sebi, and the Department for Promotion of Industry and Internal Trade, on the possibility of creating a single platform or compliance forms with common data sources, the official said. Coming after other key initiatives such as one nation one tax, and faceless assessment under income tax, the move is expected to significantly boost ease of doing business in the country. Read more

MARKET UPDATE:Sensex jumped 312 pts to 38,530 levels, Nifty reclaimed the 11,400-mark

Friday, August 21, 2020
The markets in India rose over half a percent today(21st August 2020), following the firm trend in the Asian markets. The S&P BSE Sensex jumped 312 points, or 0.82 percent, to 38,530 levels, and the Nifty50 index reclaimed the 11,400-mark. PowerGrid (up 3%), NTPC, and SBI (both up 2%) were the top Sensex gainers. Among other individual stocks, GMM Pfaudler surged over 8 percent in early deals after it said it has acquired a 54 percent stake in its parent firm Pfaudler Group for a consideration of around $27.4 million. The trend among Nifty sectoral indices was positive, led by the Nifty PSU Bank index, up 1.6 percent. Meanwhile, the broader markets kept up their outperformance, with the S&P BSE MidCap and SmallCap indexes both trading over 1 percent higher. Fifty-one companies including PNB, Indiabulls Housing Finance, and Union Bank of India, are scheduled to announce their June quarter results today.

Aarti Drugs gains 20% and hits all time high after Board approves issuance of bonus shares

Thursday, August 20, 2020
Shares of Aarti Drugs gained as much as 20 per cent to a lifetime high of Rs 2892 on the BSE on Thursday after the company's board approved issuing 3 bonus equity shares for every one fully paid-up equity share held.i.e 3:1.The company will intimate the “Record Date” for determining eligible Shareholders entitled to receive Bonus Shares in due course, it added."The Board of Directors has approved Increase in the authorized share capital of the Company from Rs. 25,00,00,000/- to Rs. 120,00,00,000/- by creation of additional 9,50,00,000 Equity Shares of Rs. 10/- and the issuance of fully paid up Bonus Share in the ratio of 3:1," the company said in a filing to exchanges today. The company has delivered a good set of numbers for the June quarter, even as Covid-19 pandemic disrupted economic activity across the globe. Aarti Drug’s net profit rose 281 per cent to Rs 85.45 crore in the quarter ended June while sales rose 34 per cent to Rs 544.67 crore in the quarter from a year ago.

Closing Bell: Sensex down 394 points, Nifty at 11312.20

Thursday, August 20, 2020
At Close, Sensex closed 394 points or 1.02 per cent, lower at 38,220.39 and Nifty closed 96 points, or 0.84 per cent, down at 11,312.20. NHPC was the top gainer followed by ONGC, Powergrid, and Tata Steel. On the other side HCL Technologies, HDFC, Axis Bank and Bharti Airtel were top losers.BSE Midcap and Smallcap indices rose 0.87 per cent and 0.72 per cent, respectively. Nifty Private Bank index slipped over 1 per cent while Nifty Bank index fell 1.3 per cent. Nifty Media, on the other hand, rose over 3 per cent. Bank, finance, energy and telecom packs fell over a per cent each.

MARKET UPDATE:Sensex down 250 pts, Nifty hovered around 11,300-mark

Thursday, August 20, 2020
The equity markets in India languished in today's late morning session, with financials dragging the indices. The S&P BSE Sensex was trading 278 points, or 0.72 percent, lower at 38,340 levels and the Nifty50 index hovered around 11,300-mark. ICICI Bank, down 2%, was the top Sensex loser, followed by IndusInd Bank, Larsen & Toubro, and ONBC (all down over 1%). On the other hand, IT stocks -- TCS, Infosys, and HCL Tech -- were among the few Sensex stocks trading in the green. The trend among Nifty sectoral indices was largely in the red, with the Nifty Bank, Nifty Financials, and Nifty Metal indexes all trading over 1 percent lower. The broader market, however, quickly erased the opening losses. The S&P BSE MidCap index turned flat while the SmallCap index inched into the green. Read more

Govt to set up National Recruitment Agency to hold common govt job exam

Wednesday, August 19, 2020
Today Govt approved the proposal to set up a National Recruitment Agency (NRA) to conduct a common examination for jobs in the government and state-owned banks. This “historic decision" was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi,” said, Information & Broadcasting Minister Prakash Javadekar. This Common Eligibility Test will help "youngsters of the country find jobs easily”, said Javadekar, explaining that this will remove the hassle of multiple tests for various government jobs and make the process smoother and simpler. “Candidates for government jobs appear for multiple examinations and pay repetitive fees. The NRA will remove these pain points with a common test for multiple government jobs.” Read more

CSB Bank reports 174% YoY jump in Q1 profit at Rs 53.5 cr

Wednesday, August 19, 2020
Shares of CSB Bank gained 14.4 per cent to Rs 227.85 per share on the BSE on Wednesday after the bank reported a net profit of 53.56 crores in June quarter of FY21which grew 174.1 per cent on a yearly basis as against Rs 19.54 crore in Q1FY20.In the March quarter of FY20, the bank had incurred a net loss of Rs 59.68 crore.CSB Bank said its interest income rose 18.90 per cent YoY to Rs 422.60 crore from Rs 355.42 crore. The bank's operating profit before provisions and contingencies stood at Rs 129,09 crore, clocking a growth of 222 per cent YoY. Provision of the bank has also increased from over five-fold to Rs 57.53 crore Q1FY21, as against Rs 10.07 crore in the corresponding quarter last year, Out of which Rs 13.76 crore were for bad loans. In the March quarter, the same stood at Rs 84.32 crore. Read more

Closing Bell:Sensex slips from day’s high, up 86 points, Nifty at 11408.40

Wednesday, August 19, 2020
At close, the Sensex was up 86.47 points or 0.22% at 38614.79, and the Nifty was up 23 points or 0.20% at 11408.40. Tech Mahindra, Zee Entertainment, GAIL, Bharti Airtel, and Maruti were the top gainers on Sensex. Bajaj Auto, Nestle India, Wipro and ONGC were the top losers. About 1651 shares have advanced, 926 shares declined, and 104 shares are unchanged. Nifty PSU Bank index, up 1.9 per cent. S&P BSE MidCap and Small Cap indices trading 0.8 per cent higher. All Nifty sectoral indices traded with gains except Nifty Auto, Nifty FMCG, Nifty Pharma, and Nifty IT. While buying witnessed in the banking & financial, energy and infra sectors.

IT services providers tapping their alumni network to revive businesses

Wednesday, August 19, 2020
IT services providers including Mindtree, Birlasoft, and LTI are tapping their alumni network as businesses revive following stepped up outsourcing by clients to cut costs and scale up their technologies. This network, apart from being a great source of finding workers who know exactly what the company wants, is useful because the software services providers do not have to highlight their uniqueness during recruiting. And, with new hires being onboarded remotely, bringing back former employees is an added advantage. Exact numbers are difficult to estimate, but in cases, like Mindtree the returning employees account for 10-15% of the total talent intake over a given period according to sources.

MARKET UPDATE:Sensex rose 227 pts, Nifty hovered around 11,450-mark

Wednesday, August 19, 2020
The equity markets in India were trading half a percent higher today(19th August 2020), lifted by gains in some heavyweight stocks. The S7p BSE Sensex rose 227 points, or 0.6 percent, to 38,740 levels and the Nifty50 index hovered around the 11,450-mark. SBI (up 2%) was the top Sensex gainer, followed by ICICI Bank and Larsen & Toubro (both up 1%). Reliance Industries also climbed 1 percent in early deals after announcing the acquisition of a majority equity stake in online pharmacy delivery startup Netmeds for a cash consideration of approximately Rs 620 crore. All the Nifty sectoral indices were trading in the green, led by Nifty PSU Bank index, up 1.9 percent. The broader market outperformed the benchmark indices in early deals, with the S&P BSE Midcap and Small Cap indices trading 0.8 percent higher. Thirty-two companies including CSB Bank, Muthoot Finance, are scheduled to announce their June quarter earnings today.

Vedanta falls 6% as HC refuses to reopen Sterlite copper plant

Tuesday, August 18, 2020
Shares of Vedanta Limited dropped 6 per cent to Rs 120.20 on the BSE after the Madras High Court refused to allow reopening of Sterlite copper smelting plant in Tamil Nadu's Thoothukudi. The High Court upheld the Tamil Nadu government's order of May 2018, which directed the closure of Vedanta's facility. The judgment was pronounced on August 18 by a Division Bench of Justices TS Sivagnananam and Bhuvani Subbaroyan. Vedanta Limited had moved the court challenging the state government's closure order against its Sterlite Copper Plant on May 28, 2018. The Thoothukudi Sterlite copper smelting plant remains shut since April 9, 2018, after the Tamil Nadu Pollution Control Board (TNPCB), through an order dated April 9, 2018, rejected the Consent to Operate (CTO) for the plant and issued a direction for closure and disconnection of power supply at the plant. 13 people were allegedly shot dead by the police on May 22, 2018 during a protest against the plant. Read more

Apple planning to roll out locally made iPhone 12 by next year

Tuesday, August 18, 2020
Apple, the American tech giant, is planning to roll out locally made models of its upcoming iPhone 12 by the middle of next year, according to sources. This will be the seventh iPhone model to be made in the country, giving a boost to Prime Minister Narendra Modi’s Atmanirbhar vision. Also, the local production of its latest iPhone SE (2020) is expected to begin by the end of this year. Till recently, iPhone production in India was limited to older models at a lower price tag. Read more

Closing Bell:Sensex gains 477.54 points, Nifty at 11385.35

Tuesday, August 18, 2020
At close, the Sensex was up 477.54 points or 1.26% at 38528.32, and the Nifty was up 138.30 points or 1.23% at 11385.40. ONGC, Ultratech Cement, Maruti and Titan were the top gainers on BSE Sensex.While Powergrid, Tech Mahindra,BPCL, HCL and NTPC were the top losers.About 1860 shares have advanced, 886 shares declined, and 132 shares are unchanged.Nifty Realty was the top gainers, up 1.17%.All other sectoral indices ended in the green. BSE Midcap and Smallcap indices added 1 percent each. India VIX declined over 4 per cent to 20.43 levels.

MARKET UPDATE:Sensex gains 200 pts, Nifty tops 11,300

Tuesday, August 18, 2020
The equity markets in India were trading half a percent higher today(18th August 2020), helped majorly by heavyweight Reliance Industries. The S&P BSE Sensex was trading 213 points higher at 38,260 levels and the Nifty50 index reclaimed the 11,300-mark. Reliance Industries (up 1.9 percent) was the top Sensex gainer, followed by ONGC, NTPC, and ICICI Bank (all up 1% each). On the other hand, HDFC Bank dipped 1 percent in early deals after US-based Rosen Law Firm said it plans to investigate potential securities claims against the bank following allegations of sharing "materially misleading business information" with investors. Bandhan Bank also gained 2 percent after the RBI lifted the restrictions imposed on the remuneration of the bank's MD & CEO. The trend among Nifty sectoral indices was positive, led by Nifty Financial Services, up 0.5 percent. Read more

The Indian economy may contract16.5 % in Q1FY21, as against previously expected contraction of 20%

Monday, August 17, 2020
There is a small Silverline for the Indian economy. It may report a contraction of16.5 percent in April-June quarter of FY21, as against a previously expected contraction of 20 percent, as degrowth in corporate GVA, courtesy better-than-expected results of some financial and non-financial companies have been significantly better than revenue degrowth in Q1FY21, said economists at SBI. "In May, we had indicated that the Q1FY21 GDP growth will exhibit a sharp decline at least in excess of 30 percent. However, the current situation warrants us to revisit our GDP growth... In principle, the revenue decline of listed companies has been far outstripped by cost rationalisation thereby not impacting margins. As per our estimates, Q1FY21 real GDP degrowth would be now around –16.5 percent," Soumya Kanti Ghosh, chief economic advisor for SBI wrote in his latest report Ecowrap, dated August 17. The government is expected to release Q1FY21 GDP data on August 31. Read more

MARKET UPDATE:Volatile market-Sensex 77 points down at 37,800 levels and Nifty slipped below 11,200-mark

Monday, August 17, 2020
The equity markets in India erased their opening gains and were trading flat with negative bias today(17th August 2020), following the mixed trend in Asian indices. The S&P BSE Sensex was trading 77 points lower at 37,800 levels after rising as high as 38,119 in the opening deals. The broader Nifty50 index also slipped below the 11,200-mark. NTPC, Larsen & Tourbo, Titan, and Tech Mahindra (all up 1%) were the top Sensex gainers. On the other hand, Reliance Industries and Axis Bank dipped over 2 percent each. Meanwhile, Glenmark Pharma surged as much as 7 percent after posting an over two-fold increase in consolidated net profit in June 2020 quarter. The trend among Nifty sectoral indices was mixed, with the Nifty PSU Bank index, down 1 percent, leading the list of gainers. Thirty-seven companies, including Can Fin Homes, Petronet LNG, and Suven Pharmaceuticals, are set to report their quarterly earnings today.

Aatmanirbhar Bharat' a duty towards global good: PM Modi in his Independence Day speech

Saturday, August 15, 2020
Prime Minister Narendra Modi in his address to the nation today on the occasion of 74th Independence Day said that an 'Aatmanirbhar Bharat' would be economically stronger which would lead to more peace and financial stability across the region."Many nations are watching India as a centre for their supply-chain operations. Now, we have to internalise the motto of ‘Make for the world’ alongside ‘Make in India’." he said. "The world is interconnected and interdependent now. Therefore, India's contribution to the global financial system should rise. This is India's duty towards global development. For that to happen, India would have to become self-reliant," the PM stressed during his seventh speech from the ramparts of the historic Red Fort. Read more

Eicher Motors tanks 5% after Q1 result

Friday, August 14, 2020
Shares of Eicher Motors tanked nearly 7.35 per cent on Friday after the company reported a consolidated net loss of Rs 55 crore for the first quarter ended June 30 as sales were adversely hit due to COVID-19 pandemic. It had posted a profit of Rs 452 crore in the corresponding quarter last year. The company's revenue from operations in the quarter under review declined to Rs 818 crore from Rs 2,382 crore in Q1FY20. Royal Enfield sold 58,383 motorcycles during the June quarter, down 68 per cent from 181,966 motorcycles sold over the same period in FY20. The maker of the Royal Enfield motorcycles is seeing demand recovery with the bookings almost returning to pre COVID-19 levels. The company has an order backlog of around 40,000 units. Read more

Covaxin is safe:Result of the Ist phase of the vaccin developed by Bharat Biotech-ICM

Friday, August 14, 2020
It is reported that preliminary results of phase 1 clinical trials of the Bharat Biotech-ICMR developed Covid-19 vaccine, Covaxin, suggest that the vaccine is safe. The vaccine is being tested on 375 volunteers who have enrolled at 12 sites in India. Two doses of the vaccine are being administered to each volunteer. “As of now, we know that it is safe. The second step is to know how effective the vaccine is for which we have started collecting the samples,” said Savita Verma, principal investigator, who is leading the trial at PGI, Rohtak. Read more

Closing Bell:Sensex down 600 points, Nifty at 11178.40

Friday, August 14, 2020
At close, the Sensex was down 433.15 points or 1.13% at 37877.34, and the Nifty was down 122.10 points or 1.08% at 11178.40. Tata Steel was the top Sensex gainer followed by Sun Pharma, Reliance Industries, TCS, Infosys, Housing Development Finance Corporation, ICICI Bank and NTPC.On the other hand, Power Grid, HCL Tech, Maruti Suzuki, Bajaj-Auto, Tata Steel and Titan Company were the top index losers. About 1085 shares have advanced, 1600 shares declined, and 133 shares are unchanged. Nifty IT index was up 0.58 per cent. Nifty Pharma index, up 2.5 per cent. The nifty Auto index dipped over 1 per cent. Except for metal and pharma, all other sectoral indices ended in the red. BSE Midcap and Smallcap indices ended 0.5-1 per cent lower.

Inflation above MPC comfort range for fourth straight month

Friday, August 14, 2020
Consumer Price Index (CPI)-based inflation came in above the monetary policy committee’s target band of 4 percent (with a margin of +/-2) for the fourth consecutive month in July. The official data released yesterday(13th August 2020) showed that retail inflation rose to 6.93 percent year-on-year, up from 6.23 percent in June, mainly because of a rise in food and petroleum prices. Consumer Food Price Index-based inflation (CFPI) rose to 9.62 percent in July, compared to 8.72 percent in the previous month. Last week, the Reserve Bank of India’s (RBI’s) monetary policy committee kept key policy rates unchanged, deciding to use the future rate cuts “judiciously to maximize the beneficial effects”. The repo rate currently stands at 4 percent, and the reverse repo rate at 3.35 percent. Retail inflation has breached the RBI’s upper tolerance limit (6 percent) for four consecutive months and seven out of eight months.

India regains $2-trillion market capitalisation

Friday, August 14, 2020
As shares in the broader market joined the party the Indian market has once again topped the $2-trillion market capitalisation (m-cap) threshold. The country’s m-cap slipped below the psychological level in March ahead of the sharp sell-off triggered by the pandemic. During the depth of the correction, the combined m-cap of all listed stocks had slipped to multi-year lows of $1.3 trillion on March 23. Since then, India has added nearly $700 billion in market value thanks to the liquidity-fueled global rally. At its peak, India’s m-cap stood at $2.22 billion at the start of the year, when the benchmark Sensex and the Nifty indices hit all-time highs. Read more

MARKET UPDATE:Sensex up by 152 points at 38,460 levels and the Nifty hovered around the 11,350-mark

Friday, August 14, 2020
The equity market in India edged up half a percent today(14th August 2020) ahead of the SC hearing on telcos' AGR dues later in the day. The S&P BSE Sensex added 152 points at 38,460 levels and the Nifty50 index hovered around the 11,350-mark. Reliance Industries, Larsen & Toubro, and Sun Pharma (all up 1%) were the top Sensex gainers. Besides, Eicher Motors slipped over 2 percent in early deals after posting a net loss of Rs 55 crore in the June quarter results (Q1FY21). Hero MotoCorp was also trading lower after reporting a 95 percent YoY dip in Q1 net profit. The Nifty sectoral indices were trading largely in the green, led by the Nifty Pharma index, up 0.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 0.12 and 0.58 percent higher, respectively. Read more

The economic reality India may face after the reopening relief fades

Thursday, August 13, 2020
In India, ever since the sudden lockdown brought all economic activity to a screeching halt, all hopes of a turnaround have come to be pinned on an easing of restrictions. Easing began in May in stages and for some time, economic data was showing signs of a recovery in business activity. But as the lives-versus-economy dilemma enters a more critical stage, these signs are now waning. Even as the government clutches at straws in search of potential game-changers, the gradual easing of lockdowns has sparked hope in some quarters. But what will come to the economy's rescue after the reopening relief fades, remains entirely uncertain. Read more

Tata Power shares rally 9 per cent after Q1 result and on merger proposal

Thursday, August 13, 2020
Tata Power shares surged as much as 9 per cent to Rs 57.9 on the BSE on Thursday after the firm reported a 10 per cent on-year rise in consolidated net profit at Rs 268 crore in the April-June quarter on the back of reduced expenses. The company had posted a net profit of Rs 243 crore in the corresponding quarter of the preceding year. Revenue from operations fell 16.9 per cent YoY to Rs 6,453 crore in the first quarter of FY21Its consolidated profit before tax (PBT) and exceptional items for the June quarter dipped 31 per cent to Rs 480 crore, as against Rs 605 crore PBT posted in Q1FY20.In a span of three months, Tata Power share price has rallied 114 per cent from Rs 27 apiece to Rs 57.85. The company also announced its three wholly-owned subsidiaries, Coastal Gujarat Power Ltd (CGPL), Tata Power Solar Systems (TPSSL) and Af-Taab Investment Company (Af-Taab) are proposed to be merged with the parent company for greater synergies in the financing, compliance, and oversight. Read more

Closing Bell: Sensex end flat, Nifty at 11300.45

Thursday, August 13, 2020
At close, the Sensex was down 59.14 points or 0.15% at 38310.49, and the Nifty was down 7.90 points or 0.07% at 11300.50 and settled in red for the second consecutive session in Thursday's volatile trade. ONGC, TCS, Tech Mahindra, SBI, NTPC, UltraTech Cement, Tata Motors and HCL Tech were top gainers. While Bharti Airtel, ITC, Maruti Suzuki, Bajaj-Auto, HDFC and Sun Pharma were the top losers on the Sensex. About 1564 shares have advanced, 1128 shares declined, and 136 shares are unchanged. Nifty PSU Bank index fell over one per cent, while the Nifty Auto index gained 1.22 per cent. Nifty Metal index, up 2 per cent. On the sectoral front, except bank and pharma other indices ended in the green, while BSE Midcap and Smallcap indices rose 1.6 per cent and 0.7 per cent respectively

MARKET UPDATE:Sensex up by 120 points at 38,490 levels and the Nifty at 11,350-mark

Thursday, August 13, 2020
The equity market in India was trading with slim gains on Thursday, lifted primarily by metal stocks. Among the headline indices, the S&P BSE Sensex was up 120 points at 38,490 levels and the Nifty50 index topped the 11,350 marks. TCS, SBI, and Tech Mahindra (all up 1%) were the top Sensex gainers. On the other hand, Bharti Airtel dipped over 4 percent in early deals. Aurobindo Pharma also fell 4 percent despite reporting a 22.8 percent YoY rise in consolidated profit at Rs 780.7 crore in the June quarter. Indiabulls Group stocks gained after Sameer Gehlaut stepped down as the company's executive chairman with immediate effect. The trend among Nifty sectoral indices was largely in the green, led by Nifty Metal index, up 2 percent, The broader indices outperformed their benchmark peers with the S&P BSE MidCap and the SmallCap index trading 0.8 percent higher each. Read more

HAL share gains 10 per cent on approval of equipment acquisition

Wednesday, August 12, 2020
Shares of Hindustan Aeronautics (HAL) rallied as much as 10.5 per cent and hit a fresh 52-week high of Rs 1,126 on the BSE on Wednesday after the Ministry of Defence (MoD) on Tuesday approved the acquisition of 'Make in India' equipment worth Rs 8,722 crore required by the Indian Armed Forces. HAL stock price has rallied over 151 per cent from March lows of Rs 448 apiece and the total market capitalisation of the company stands at Rs 36,949.82 crore. The Defence Acquisition Council held meeting with Defence Minister Rajnath Singh, accorded approval for capital acquisitions of various platforms and equipment required by the Indian Armed Forces. Proposals for an approximate cost of Rs 8,722.38 crore were approved. DAC approved procurement of 106 basic trainer aircraft from HAL to address the basic training requirements of the Indian Air Force. It also added that post-certification, 70 BTA will be initially procured from HAL and balance 36 after operationalisation of HTT-40 fleet.

PSB shares were trading higher in an otherwise weak market

Wednesday, August 12, 2020
PSB shares were trading higher on the NSE, in an otherwise weak market, today(12th August 2020). The Nifty PSU Bank index rose 4 percent in the morning deals on the NSE as against a 0.36 percent decline in the benchmark S&P BSE Sensex. The government is considering extending "ratna" title to PSBs like SBI, and Bank of Baroda, according to media reports. As per government rules, a public sector enterprise can be awarded 'ratna' title to give them financial autonomy. Currently, there are four categories of 'PSU ratna' in India, namely 'miniratna-II', mini Ratna-I', 'navratna' and 'maharatna'. Read more

Closing Bell:Sensex ends flat,Nifty at 11308.40

Wednesday, August 12, 2020
At close, the Sensex was down 37.38 points or 0.10% at 38369.63, and the Nifty was down 14.10 points or 0.12% at 11308.40. State Bank of India (SBI), Maruti Suzuki, M&M, Bharti Airtel and TCS were the top Sensex gainers. While losers were Kotak Mahindra Bank, Cipla, Hindalco Industries, Dr Reddy’s Labs and BPCL.About 1487 shares have advanced, 1207 shares declined, and 140 shares are unchanged. The mixed trend seen on the sectoral front with metal, pharma and FMCG indices ended lower Nifty Metal and Nifty Pharma down 1.54 per cent and 1.32 per cent. The Nifty PSU Bank index rose over 3 per cent. while buying witnessed in the auto and PSU bank stocks.

MARKET UPDATE:Sensex dipped 260 points to 38,140 levels and the Nifty hovered around 11,250-mark

Wednesday, August 12, 2020
The equity markets in India slid half a percent today(12th August 2020), weighed down by metals and financials. The S&P BSE Sensex dipped 260 points to 38,140 levels and the Nifty50 index hovered around 11,250-mark. Bajaj Finance (down 2%), Bajaj Finserv, and Axis Bank (down 1%) were the top Sensex laggards. Besides, heavyweights HDFC Bank and Reliance Industries also slipped more than 1 percent each in early deals. The trend among NIfty sectoral indices was largely in the red, led by losses in the Nifty Metal index, down 1.4 percent. One thirty -seven companies, including Aurobindo Pharma, Ashok Leyland, and Tata Power are scheduled to announce their June quarter results today.

Axis Bank shares gains 4% on raising Rs 10,000 crore via allotment of equity shares

Tuesday, August 11, 2020
Shares of Private sector lender Axis Bank gained 4 per cent after the Bank raised Rs 10,000 crore via allotment of equity shares to qualified institutional buyers (QIB). Axis Bank had set a floor price of Rs 442.19 per equity share for its proposed Rs 15,000-crore qualified institutional placement (QIP). A committee of Whole-Time Directors decided to close the issue on August 10, 2020, and accorded its consent for the issue of 238,038,560 equity shares of Rs 2 each of the bank at a price of Rs 420.10 per equity share. This takes into account a discount of 5 per cent, to the floor price of Rs 442.19 per equity share, aggregating to Rs 10,000 crore, to successful eligible qualified institutional buyers, it stated. The board of the bank had last month approved the Rs 15,000 crore fundraise plan. The QIP was okayed by shareholders at the annual general meeting held on July 31, 2020, the bank said.

Mid, small-caps likely to outperform large-caps in 2020

Tuesday, August 11, 2020
Mid-and-small caps seem to be getting their mojo back with both these indices outperforming their large-cap peer after a subdued performance for the last two years. From their March 2020 low, the S&P BSE Mid-cap and S&P BSE Small-cap indices have surged 57 percent and 49 percent, respectively as compared to 47 percent rise in the S&P BSE Sensex. Even on a year-to-date basis, the returns have been better. The small-cap index on the BSE has moved up nearly a percent. The mid-cap index, however, lost 3.7 percent YTD, but is still better than the 7.5 percent fall in the S&P BSE Sensex during this period, ACE Equity data show. Read more

Closing Bell:Sensex ends 225 points, Nifty at 11322.50

Tuesday, August 11, 2020
At close, the Sensex was up 224.93 points or 0.59% at 38,407.01, and the Nifty was up 52.30 points or 0.46% at 11,322.50. Axis Bank was the top Sensex gainer followed by IndusInd Bank, ITC, HDFC Bank, Tata Steel, HDFC and ICICI Bank. On the contrary, Titan Company was the top loser followed by Bharti Airtel, HCL Tech, ONGC, Tech Mahindra and Sun Pharma. About 1559 shares have advanced, 1146 shares declined, and 143 shares are unchanged. Nifty Pharma index was down 1.42 per cent. While Nifty Bank, Nifty Metal and Nifty Financial Services gained over 1 per cent. Among sectors, except pharma and IT, other indices ended in the green. BSE Midcap and Smallcap indices ended marginally lower.

MARKET UPDATE:Sensex climbed 338 points to 38,520 levels and Nifty topped the 11,350-mark

Tuesday, August 11, 2020
The equity markets in India India rose over half a percent today(11th August 2020), in line with a strong trend in other Asian markets. The S&P BSE climbed 338 points to 38,520 levels and the Nifty50 index topped the 11,350-mark. ICICI Bank gained 2 percent after the bank launched its qualified institutional placement (QIP), setting the floor price at Rs 351.36 per share. Besides, Axis Bank and Tata Steel (both up 2%) were among the other top gainers. On the other hand, Titan slipped over 3 percent after the announcement of its June quarter results. All the Nifty sectoral indices were trading in the green, led by the Nifty Metal index, up 2 percent. Today, 90 companies, including RITES, Motherson Sumi, and Metropolis Healthcare, are scheduled to announce their June quarter results.

Manmohan Singh offers three remedies to help to restore the country’s financial health

Monday, August 10, 2020
Former prime minister Manmohan Singh and world-renowned economist has proffered three steps to restore the country’s financial health. Singh, a long-time Congress stalwart who is often credited as the architect of India's economic reforms program, suggested direct cash assistance to protect livelihoods and retain spending power, government-backed credit guarantee schemes to make capital available for businesses, and institutional autonomy to fix the financial sector. "I do not want to use words like 'depression' in a cavalier fashion," said Singh in a conversation with the BBC, adding that a deep and prolonged economic slowdown was inevitable. Read more

Divi's Laboratories shares gains 18 per cent post quarter results

Monday, August 10, 2020
Shares of Divi's Laboratories on Monday zoomed 18 per cent to a fresh 52-week high of Rs 3,228.05 on the BSE after reporting 80.61 per cent year-on-year (YoY) rise in consolidated net profit for the June quarter of 2020-21. The drug firm reported a net profit of Rs 492.06 crore for the quarter on account of robust sales. The company had report a profit of Rs 272.44 crore in the year-ago same period. Total income stood at Rs 1,747.80 crore during the quarter under review as against Rs 1,193.20 crore in April-June 2019-20, it added."The company has been able to have near-normal operations during the quarter and there was minimal impact due to COVID-19 pandemic," Divi's Laboratories said. "Divi’s Lab delivered all-time high sales/EBITDA/PAT for the quarter. Overall performance was led by volumes and did not include any business opportunity related to COVID-19 treatment. Research and brokerage firm Emkay Global Financial Services, HSBC and Motilal Oswal has recommended buying the shares.

Closing Stock:Sensex gains 141 points, Nifty at 11270.15

Monday, August 10, 2020
At close, the Sensex was up 141.51 points or 0.37% at 38182.08, and the Nifty was up 60.70 points or 0.54% at 11274.70 on the back of positive global cues, encouraging quarterly numbers by select pharma companies and the government's push for Atmanirbhar Bharat (Self-Reliant India). M&M was the top Sensex gainer, followed by Cipla, Larsen & Toubro (L&T), Sun Pharma, Kotak Mahindra Bank, HDFC and State Bank of India (SBI). while losers included Eicher Motors, Asian Paints, Maruti Suzuki, BPCl and Reliance Industries. About 1723 shares have advanced, 996 shares declined, and 166 shares are unchanged. Nifty Pharma index gained 5.5 per cent. Except, Nifty Metal index, all other sectoral indices were trading in green. Midcap and Smallcap indices ended with over 1 per cent gain.

MARKET UPDATE:Sensex rose 300 points to 38,340 levels and Nifty reclaimed the 11,300 mark

Monday, August 10, 2020
The equity markets in India were trading half a percent higher today(10th August 2020), lifted mainly by pharma stocks. Among the benchmark indices, the S&P BSE Sensex rose 300 points to 38,340 levels and the Nifty50 index reclaimed the 11,300 marks. Larsen & Toubro and Mahindra & Mahindra gained 3 percent each in early deals and were the top Sensex gainers. Meanwhile, Divi's Laboratories surged 15 percent after the announcement of its June quarter results. The Nifty sectoral indices were trading in the green, led by the Nifty Pharma index, up 2 percent. One hundred companies including Titan and Bank of Baroda are scheduled to announce their June quarter results today.

Mahindra & Mahindra Q1 profit falls 97% to Rs 68 Crore

Friday, August 7, 2020
Auto major Mahindra & Mahindra on Friday reported a 97 per cent decline in consolidated profit at Rs 67.79 crore for June quarter 2020, adversely impacted by the COVID-19 pandemic. The company had reported a profit of Rs 2,259.74 crore ina year ago.The analysts had projected a net profit of Rs 200 crore for the company. The company's revenue also fell 56 per cent YoY to Rs 5,589.43 crore from Rs 12,805.47 crore reported in the year-ago quarter.M&M said profit before the exceptional gain of Rs 29 crore declined 96 per cent YoY to Rs 39 crore for the quarter. It sold 27,565 units of vehicles and 64,140 units of tractors during the quarter, down 78 per cent and 22 per cent YoY. Total exports were at 3,109 units, down 72 per cent.M&M's operating margin for the quarter stood at 10.3 per cent as compared to 14 per cent in Q1FY20. The company also approved the appointment of Nisaba Godrej and Muthiah Murugappan as additional directors on the board of directors. Read more

What India has been spending during the pandemic

Friday, August 7, 2020
Months of lockdown and KOVID-19 threat have altered the habits of Indian consumers: Their spending patterns reveal just how deeply concerned they are with protecting their health and fortifying their store-cupboards, warding off boredom, and keeping their homes neat and tidy. Consumers around the world are showing an increased interest in safeguarding their health and boosting their immunity. In India, that often means Ayurveda and Companies such as Dabur India Ltd. and The Himalaya Drug Co. are witnessing high demand for traditional products like chyawanprash and proprietary supplements like Septilin. Read more

Microsoft may strike a deal to buy all of TikTok’s global business

Friday, August 7, 2020
Microsoft may strike a deal to buy all of TikTok’s global business, including the viral video app’s operations in India and Europe. The value of Tik-Tok’s India business may be as much as $10 billion. On Sunday (2nd August 2020) Microsoft had said that it was in negotiations with ByteDance, the Chinese owner of TikTok and the world’s largest startup, to explore a purchase of the TikTok service in the US, Canada, Australia, and New Zealand. Since then, Microsoft has also pursued a plan that will include all countries where TikTok operates.It does not operate in China, and such a deal would not extend to its China-facing sister app Douyin. Read more

Closing Bell: Sensex end flat, Nifty at 11214.05

Friday, August 7, 2020
At Close, managed to end marginally in the green with Sensex up 15.12 points or 0.04 per cent at 38040.57, and the Nifty adding 13.80 points or 0.12 per cent at 11214. Among Sensex top gainers were Asian Paints, Bajaj Finance, IndusInd Bank, Bajaj Finserv, Maruti Suzuki and Bharti Airtel. On the flip side, Titan Company was the top loser, followed by HCL Tech, Infosys, M&M, Sun Pharma, LT, UltraTech Cement. Nifty PSU Bank index and Nifty Metal index gained 0.99 per cent and 0.85 per cent. Nifty IT index slipped over 1 per cent. The midcap index gained over a per cent while the IT and pharma sectors ended in the red.

MARKET UPDATE:Sensex, Nifty in the red-sensex at 38000 levels and Nifty gaveup 11,200-mark

Friday, August 7, 2020
The equity market in India was trading with slight cuts today (7th August 2020) amid mixed global cues. Among the benchmark indices, the S&P BSE Sensex dipped 30 points to around 38,000 levels and the Nifty50 index gave up the 11,200-mark. HCL Tech, Tata Steel, ICICI Bank (all down over 1%) were the top Sensex laggards while ONGC gained 1 percent. Vodafone Idea slid as much as 7 percent after reporting a sharp rise in its losses to Rs 25,460 crore for the June quarter of FY21 while HPCL's stock gained 4 percent after the company reported a 157 percent jump in its June quarter net profit. The trend among Nifty sectoral indices was largely negative, with the Nifty Bank index, down 0.7 percent, leading the list of losers. On the other hand, the broader market outperformed their benchmark peers after changes in circuit limits for about 650 companies became effective today. The S&P BSE MidCap and SmallCap indexes were both trading 0.7 percent higher. Read more

RBI extends debt restructuring for MSME, ups gold LTV ratio

Thursday, August 6, 2020
Financials and realty stocks soared in the afternoon session today after the RBI, in its second bi-monthly policy for the financial year 2020-21 (FY21), announced measures to support NBFCs, HFCs, corporate debt market, debt MF, agriculture and backward districts (via priority sector loans). Besides, it announced a relaxation on the loan-to-value (LTV) ratio for gold loans. "It has been decided that stressed MSME borrowers will be made eligible for restructuring their debt under the existing framework, provided their accounts with the concerned lender were classified as standard as on March 1, 2020. This restructuring will have to be implemented by March 31, 2021," RBI governor Shaktikanta Das said. Read more

RBI extends loan restructuring facility of MSME loans

Thursday, August 6, 2020
The Reserve Bank of India (RBI), in its second bi-monthly monetary meet held on August 6 provided a fresh lifeline to millions of stressed small businesses by extending the provision of restructuring of loans. Besides, it announced a relaxation on the loan-to-value (LTV) ratio for gold loans. The repo rate has been unchanged at 4 per cent and the reverse repo rate is at 3.35 per cent, while the MSF rate and Bank rates were also left unchanged at 4.25 per cent. “The scheme has provided relief to a large number of MSMEs. With Covid-19 continuing to disrupt normal functioning and cash flows, the stress in the MSME sector has got accentuated, warranting further "It has been decided that stressed MSME borrowers will be made eligible for restructuring their debt under the existing framework, provided their accounts with the concerned lender were classified as standard as on March 1, 2020. This restructuring will have to be implemented by March 31, 2021," RBI governor Shaktikanta Das said. Read more

Closing Bell:Sensex gains 362 points, Nifty at 11200.15

Thursday, August 6, 2020
At close, the Sensex was up 362.12 points or 0.96% at 38025.45, and the Nifty was up 98.50 points or 0.89% at 11200.20 post-Reserve Bank of India (RBI) kept the repo rate unchanged at 4 per cent. Tata Steel was the top Sensex gainer followed by Infosys, HCL Technologies, UPL and Bajaj Finance. while losers were Shree Cements, Eicher Motors, Adani Ports, M&M and Bharti Airtel. About 1567 shares have advanced, 1056 shares declined, and 167 shares are unchanged. Apart from Nifty Auto and Nifty PSU Bank all sectoral indices were up in the green. IT, metal, pharma and FMCG gained more than 1 per cent. BSE Midcap and Smallcap indices rose 0.7 per cent and 1 per cent respectively.

Nifty50 valuation hits all-time high

Thursday, August 6, 2020
The valuation of the benchmark indices has hit an all-time high as investors bid up share prices. At the close of trade yesterday(5th August 2020), the NSE Nifty 50 index price-to-earnings (PE) multiple reached an all-time high of 30.4 times its trailing 12-month earnings per share (EPS). The current valuation is 38 percent higher than the 10-year average of 22x and over 50 percent higher than the 20-year average of around 20x. In comparison, the index was valued at 28.6x at its life-time high of around 12,355 on January 16 this year. Analysts attribute this to a combination of a steady decline in the Nifty 50 underlying EPS in the last two quarters due to the pandemic and a sharp rise in the index from the March 20 lows. Read more

RBI:Repo rate unchanged at 4%; stance accommodative

Thursday, August 6, 2020
The RBI today(6th August 2020) decided to keep the benchmark repo rate unchanged at 4 percent, already the lowest since 2000, and reverse repo rate at 3.35 percent. The six-member Monetary Policy Committee (MPC) of the RBI, headed by the Governor Shaktikanta Das, announced the decision after its 24th two-day bi-monthly meeting. RBI had last revised its policy rate on May 22, in an off-policy cycle to perk up demand by cutting interest rate to a historic low. Governor Shaktikanta Das said the MPC voted to keep interest rate unchanged and continue with its accommodative stance to support growth. "Global economic activity has remained fragile. A surge in Covid-19 cases has subdued early signs of revival, said Das, adding: "Economic activity had started to recover, but a surge in infection has forced imposition of lockdowns." Supply chain disruptions were persisting and inflationary pressures were evident across segments, he said. Read more

Tata Consumer Products hits new high after Q1 results

Wednesday, August 5, 2020
Tata Consumer Products' shares hit an all-time high of Rs 471.70 apiece on Wednesday after the Tata Group FMCG major reported a robust June quarter, with net profit rising 82 per cent year-on-year (YoY) to Rs 346 crore helped by an increase in demand in some categories. The company posted a net profit of Rs 190.09 crore in April-June a year ago. Revenue from operations was up 13.44 per cent to Rs 2,713.91 crore during the quarter as against Rs 2,392.36 crore in the corresponding period of the last fiscal. Tata Starbucks' operations for Q1 were adversely impacted due to COVID-19. As of June 30 2020, close to 60 per cent of the total 186 stores have reopened, it said. The company has acquired 50 per cent stake of PepsiCo India in NourishCo Beverages Ltd, making it a wholly-owned subsidiary with effect from May 18, 2020, and hence TCPL has shown a gain of Rs 84 crore. Read more

Disparity between rallying global stocks and deteriorating data is the most pronounced in India

Wednesday, August 5, 2020
The Indian shares have logged one of the best rebounds from the March lows globally while battling some of the world’s worst economic data. The surge has pushed up valuations to a record as investors look past the grim reality and the world’s third-highest tally in coronavirus cases. The disconnect between rallying global stocks and deteriorating data is very much pronounced in India. The situation does not go well for Asia’s third-largest economy that’s set for its first contraction in more than four decades. Further negative surprises from macro data or virus cases can unravel a rally that’s added $605 billion in market value from the depths of the swoon to outstrip the government’s stimulus package. Read more

Closing Bell: Sensex down 25 points, Nifty at 11101.65

Wednesday, August 5, 2020
At close, the Sensex was down 24.58 points or 0.07% at 37663.33, and the Nifty was up 6.40 points or 0.06% at 11101.70. Sensex gainers were Tata Steel, Axis Bank, Maruti Suzuki, Kotak Mahindra Bank and Bajaj Finserv. On the flip side, Power Grid Corporation of India, HDFC Bank, Tech Mahindra, Reliance Industries (RIL), Infosys were among top Sensex losers. About 1611 shares have advanced, 994 shares declined, and 152 shares are unchanged. The nifty Metal index was up over 3 per cent. Nifty Auto and Private Bank indices gained 1 per cent, each. Nifty FMCG index, slipped 0.17 per cent. The midCap index gained 0.92 per cent and the SmallCap index was up 0.8 per cent. Metal, auto, infra and IT sectors ended higher while selling witnessed in the energy and pharma space.

MARKET UPDATE:Sensex up 350 points and reclaims 38,000-mark and Nifty at 11,200 level

Wednesday, August 5, 2020
Indian stock market was trading nearly a percent higher today(5th August 2020). The benchmark S&P BSE Sensex was ruling 325 points or 0.86 percent, higher at 38,013 level. Tata Steel and Axis Bank, up 2.4 percent each, were the top gainers on the index, followed by gains in IndusInd Bank and Reliance Industries (up 2 percent each), and Bajaj Finance (1 percent). On the downside, only Power Grid and Nestle were trading as laggards on the 30-share index, down 1 percent each. The broader Nifty50, meanwhile, was inching towards 11,200-level, and was at 11,187 in early deals Sectorally, metal stocks surged higher amid positive global cues. The nifty Metal index was up 2 percent on the NSE, while Nifty Auto and Private Bank indices advanced 1 percent, each. In the broader market, the S&P BSE MidCap index was at 13,984 level, up 0.92 percent. On the other hand, the S&P BSE SmallCap index was up 0.8 percent at 13,424 level.

HDFC Bank share price gains nearly 6% on RBI appointing new CEO

Tuesday, August 4, 2020
Private lender HDFC Bank's share price rose nearly 6 per cent intraday on August 4 on the report of RBI approving new CEO. Mr.Sashidhar Jagdishan will be the new CEO of HDFC Bank for a period of 3 years w.e.f. his date of taking charge, i.e. October 27, 2020, and will be replacing Aditya Puri. The appointment will put an end to one of the most keenly watched successions in India’s banking industry. He is a chartered accountant and holds a Master’s degree in Economics of money, banking and finance. He joined the Bank in the 1996 and currently, he is the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications, Corporate Social Responsibility & the Strategic Change Agent of the bank. He joined the bank around 1996 as a Manager in the Finance function, and then went on to become Business Head - Finance in 1999 and Chief Financial Officer in the year 2008. Read more

key factors for today's bull run in Dalaal street

Tuesday, August 4, 2020
Yesterday(3rd August, Monday) was a bloody show by bears, but today bulls decimated them by recouping all losses thanks to strong global cues and low-level buying by investors. The outperformance of select blue-chips also boosted the gains. The 30-share Sensex jumped 748 points to close at 37,688, while peer Nifty climbed 211 points to end at 11,103 points. Nifty Midcap and Nifty Smallcap indices added over a percent each, underperforming their headline peers. Read more

Closing Bell: Sensex gains 748 points, Nifty at 11095.25

Tuesday, August 4, 2020
At close, the Sensex was up 748.31 points or 2.03% at 37687.91, and the Nifty was up 203.70 points or 1.87% at 11095.30. Reliance Industries, HDFC Bank, ONGC, ITC, Asian Paints, and Maruti Suzuki were the top gainers on Sensex. On the other hand Tech Mahindra, HCL Tech, and IndusInd Bank were the worst performer. About 1685 shares have advanced, 933 shares declined, and 133 shares are unchanged. Nifty Auto was the top gainer along with Nifty Media. Nifty IT index slipped into the red, down 0.4 per cent. The S&P BSE MidCap index gained 1 per cent and the S&P BSE SmallCap index was trading nearly 1.3 per cent higher.

MARKET UPDATE:Extended rally-Sensex up 333 points at 37,272 level and Nifty at 10,990 level

Tuesday, August 4, 2020
Equities in Indian markets extended their rally and were trading nearly a percent higher today(4th August 2020). The benchmark S&P BSE Sensex was at 37,272 level in morning deals, up 333 points, or 0.9 percent. RIL, ONGC, ITC, Asian Paints, and Maruti Suzuki trading as top gainers on the index. On the downside, IndusInd Bank, TechM, Power Grid, and HCL Tech slipped in the red. HDFC Bank surged over 5 percent after media reports suggested the Reserve Bank of India has approved Sashidhar Jagdishan's name for the post of CEO of the bank. The broader Nifty50, meanwhile, was at 10,990 level, up 92 points, or 0.9 percent. Sectorally, the Nifty IT index slipped into the red, down 0.4 percent, after US President Donald Trump on Monday signed an executive order restricting federal agencies from contracting or subcontracting foreign workers, hurting Indian IT professionals who work in the US on the H-1B visa. Read more

Tata Motors share price jumps over 8% ,after June quarter numbers

Monday, August 3, 2020
Shares of Tata Motors gained over 8 per cent to Rs 114.4 on the BSE on Monday after the company on Friday released its June quarter numbers for the fiscal year 2020-21. The company has reported a consolidated net loss of Rs 8,438 crore on-year for the quarter ended June 30, 2020, down 128.16% from Rs. 3,698.34 crore in June 2019.Net Sales at Rs 31,983.06 crore in June 2020 down 47.97% from Rs. 61,466.99 crore in June 2019. EBITDA stands at Rs. 1,289.23 crores in June 2020 down 65.1% from Rs. 3,693.93 crore in June 2019. Tata Motors stock has risen over 78 per cent since March, from a 52-week low of Rs 63.60 apiece. Most brokerages such as JM Financial Institutional Securities, CLSA, Citi and Motilal Oswal Financial Services have maintained their bullish stance on the stock post the company's June quarter results, with a potential upside of up to 25 per cent.

Closing Bell:Sensex down 667 points, Nifty at 10891.60

Monday, August 3, 2020
At close, the Sensex was down 667.29 points or 1.77% at 36939.60, and the Nifty was down 181.90 points or 1.64% at 10891.60 weighed down by Reliance Industries and financial counters. Titan was the top gainer, followed by Tata Steel, HCL Tech, L&T, Tata Motors and State Bank of India. On the other hand, losers include UPL, IndusInd Bank, HDFC Life, Kotak Mahindra Bank and IOC. About 1409 shares have advanced, 1213 shares declined, and 169 shares are unchanged. Among sectors, except metal other indices ended in the red. BSE Midcap Index ended 0.3 per cent lower, while the Smallcap Index gained 1 per cent. Volatility index, India VIX, climbed 3.89 per cent to 25.13 levels, indicating increased volatility in the market.

MARKET UPDATE:Sensex slips 300 points aand Nifty below 11,000-mark

Monday, August 3, 2020
Equity markets in India started the first trading session of August on a weak start, extending its consolidation phase from the previous week. The benchmark S&P BSE Sensex tanked 290 points, or 0.77 percent, to trade at 37,317 levels in early deals amid selling in financial counters. IndusInd Bank, HDFC Bank, and HDFC Bank, down between 1.5 and 2 percent, were the top laggards on the Sensex index, followed by weakness in HDFC, Bajaj Finance, and Reliance Industries. On the upside, Maruti Suzuki, Bajaj Auto, and M&M were the top gainers on the benchmark index on the back of healthy July auto sales figures. That apart, Bandhan Bank skid over 8 percent on the BSE after 356 million equity shares changed hands on the counter in a block deal. The broader Nifty50, meanwhile, was testing 11,000 level, down 73 points or 0.0.66 percent. Read more

Wholesale auto sales make comeback: In July Maruti Suzuki sold 88.2 per cent more than June 2020

Saturday, August 1, 2020
India's largest passenger car manufacturer, Maruti Suzuki, today(1st August 2020) announced that it had sold 108,000 units in July, 88.2 percent more than June 2020. The numbers are dispatch from the manufacturer to their dealers and don’t reflect retail sales. While it is a sign of recovery, Maruti executives said that the numbers primarily indicate that supply-side issues like availability of workforce and raw material supply has largely been addressed

5+3+3+4 structure and 10+2 system: New National Education Policy

Friday, July 31, 2020
In major “school to college” reforms, the government on July 28 unveiled the new National Education Policy that restructures school education by setting out 3-6 years as pre-school age and dilutes the emphasis on board exams, among other changes. One of the sweeping reforms is the transition from the decades-old 10+2 format to the 5+3+3+4 structure. The policy aims at transforming the pedagogical structure from the existing 10 years + 2 years to a more inclusive transition from foundational to the secondary stage. The 5+3+3+4 structure brings into the fold the already existing playschools within the ambit of ‘formal education'. With the 5+3+3+4 system of education, the 10+2 system would not change in terms of the years a child spends within the formal education system in the country at the school level. The new structure brings into the fold the already existing playschools within the ambit of ‘formal education’.

Big countries such as India are at a disadvantage in dealing with pandemics

Friday, July 31, 2020
India is now the epicenter of the global coronavirus pandemic. It ranks just behind the U.S. and Brazil in confirmed cases and is growing faster than either. The total rose 20% in just the last week, despite the fact that India is testing less than most of its peers. It’s looking increasingly likely that India will wind up being the country with the most cases in the world. It is a reflection of the fact that big, diverse countries are at a disadvantage in dealing with pandemics. Smaller nations such as New Zealand or Thailand can manage the flow of cases by shutting down their international borders. But internal borders are as porous in India as they are in the U.S. Read more

SBI Q1 Results:Profit jumps 81% to Rs 4,189.34 crore

Friday, July 31, 2020
State Bank of India (SBI) the country’s largest bank on Friday reported an 81% YoY surge in net profit at Rs 4,189.34 crore for the quarter ended June 2020 compared with a profit of Rs 2,312.20 crore in the same quarter last year driven by a one-time gain from stake sale in SBI Life for Rs 1,539.73 crore. Consequently, SBI's holding in the life insurance firm has fallen to 55.5 % from 57.60 % earlier. On a quarterly basis, the net profit grew 17 % from Rs 3,580.8 crore reported in the March quarter of FY20.On a consolidated basis, the net profit came in at Rs 4,776.5 crore, up 61.88 % YoY, from Rs 2,950.5 crore reported in Q1FY20. Net interest income (NII) for the quarter came in at Rs 26,641 crore compared to Rs 22,938.8 crore in the year-ago period.Profit as well as NII both were ahead of a CNBC-TV18 poll estimates of Rs 3,222.2 crore and Rs 23,940.3 crore respectively. Read more

Closing Bell:Sensex down 129 points, Nifty at 11073.45

Friday, July 31, 2020
At close, the Sensex was down 129.18 points or 0.34% at 37606.89, and the Nifty was down 28.70 points or 0.26% at 11073.50 weighed down by index heavyweights Reliance Industries and the HDFC Bank. Sun Pharma was the top index gainer followed by State Bank of India, M&M, HCL Tech, Axis Bank, ONGC and Tech Mahindra. On the other hand, RIL, HDFC Bank, Kotak Mahindra Bank, Bajaj-Auto, Asian Paints and HDFC were top losers. About 1221 shares have advanced, 1407 shares declined, and 168 shares are unchanged. Nifty Pharma surged over 3.5 per cent. Nifty Financial Services fell 0.61. Pharma, FMCG, IT and metal ended in the green, while selling witnessed in the energy, auto and infra sectors.

MARKET UPDATE:Volatile start-Sensex up by 60 points after slipping to as much as 37,538 levels, and Nifty gave up 11,100-mark

Friday, July 31, 2020
The equity markets in India fluctuated between gains and losses in a volatile start today(31st July 2020). The S&P BSE Sensex was trading 60 points higher at 37,800 levels after slipping to as much as 37,538 levels. The Nifty50 index gave up the 11,100-mark. Reliance Industries slid 2 percent after reporting its June quarter results. The HDFC twins slipped 2 percent each and were among the top Sensex losers. On the other hand, IT stocks were once again in focus with HCL Tech, TCS, Tech Mahindra, and Infosys all rising over 1 percent each. The trend among Nifty sectoral indices mixed. Nifty IT index rose 1 percent while the Nifty Financial Services index dipped 1 percent. Five hundred and seventy-six companies including State Bank of India, Tata Motors, Sun Pharmaceutical Industries, Indian Oil Corporation are scheduled to announce their quarterly results. Read more

HDFC Q1 Results:Net profit down 5 per cent

Thursday, July 30, 2020
Housing Development Finance Corporation on Thursday reported a standalone net profit of Rs 3,051.52 crore for June quarter of FY21, down a 4.7 per cent year-on-year (YoY) down from Rs 3,203.1 crore-profit reported in Q1FY20. The profit numbers beat market estimates as a CNBC-TV18 poll had estimated the number to come at Rs 2,698.8 crore. Consolidated net profit of HDFC was Rs 4,058.53 crore. It improved 14.6 per cent on a yearly basis from Rs 3,540 crore reported in Q1FY20. The company's revenue stood at Rs 13,017.7 crore in Q1FY21 against Rs 12,990.3 crore reported in the corresponding quarter last year.HDFC informed the bourses that it has kept aside Rs 1,199 crore as provisions to deal with the impact of the coronavirus. The net interest income (NII) for the quarter under review jumped 10 per cent year-on-year (YoY) to Rs 3,392 crore, up from Rs 3,079 crore reported in the corresponding quarter of the previous fiscal.CNBC-TV18 poll expected NII to come at Rs 3,419.5. Read more

Land prices have more than doubled officially in Kashmir-but no buyers

Thursday, July 30, 2020
In January 2020, the Divisional Commissioner of Kashmir passed orders significantly increasing the market value of residential, commercial, and agricultural land in all 10 districts of the territory for 2020-21. Official minutes of meetings suggest that the hike in land rates were anywhere between five percent in certain districts and 20 percent in Srinagar district. But an examination of new land rates shows that land prices were raised much more than that. The government’s objectives were primarily three. First, incentivise the locals to think of selling their property by massively enhancing their official land values by getting into the base effect play. Second, anticipating a rise in property transactions by opening up its purchase to outsiders, the government would have significantly enhanced its revenues from stamp duty collections. Read more

Closing Bell:Sensex down 335.06, Nifty at 11102.15

Thursday, July 30, 2020
At close, the Sensex was down 335.06 points or 0.88% at 37736.07, and the Nifty was down 100.70 points or 0.90% at 11102.20 mainly due to selling in the financial counters. Sun Pharma was the top gainer, Maruti, Dr Reddys Labs and Infosys. IndusInd Bank was the worst-performing stock, followed by HDFC, BPCL and Axis Bank. About 1033 shares have advanced, 1570 shares declined, and 167 shares are unchanged. All sectoral indices ended with loses, except Nifty IT and Nifty Pharma. while BSE Midcap and Smallcap indices ended marginally lower.

MARKET UPDATE:Sensex up by 263 points to hover around 38,334 levels, and Nifty around 11,270 level

Thursday, July 30, 2020
Equity markets in India were trading half a percent higher today(30th July 2020). The S&P BSE Sensex added 263 points to hover around 38,334 levels and the Nifty50 index was trading around 11,270 levels. IT stocks-HCL Tech, TCS, and Infosys-rose over 1 percent. Bharti Airtel gained 2 percent after posting a 15 percent growth in Q1 revenue. while InterGlobe Aviation slipped 4 percent before recouping losses after posting its biggest-ever quarterly loss. The Nifty sectoral indices were trading in the green, led by the Nifty IT index, up 1 percent. Four hundred and three companies, including Reliance Industries, HDFC, and Dabur India, are slated to report their quarterly earnings today. Read more

Maruti Suzuki posts Rs 249 crore loss for Q1

Wednesday, July 29, 2020
Maruti Suzuki on Wednesday reported a consolidated loss of Rs 249.4 crore for the June quarter of FY21 (Q1FY21) as compared to a profit of Rs 1,376.8 crore reported in the corresponding quarter last year due to operating loss and lower revenue following a steep decline in sales volumes during the lockdown. It was the first time since its listing in 2003 that the auto major reported a quarterly loss. Analysts had projected a net loss of Rs 340 crore for the company. Revenue from operations declined sharply by 79.2 per cent to Rs 4,106.5 crore compared to the year-ago period. The company sold a total of 76,599 vehicles during the quarter, sharply lower from 4,02,594 in the same quarter a year ago. Sales in the domestic market stood at 67,027 units, while exports were at 9,572 units. The stock was down at Rs 6,172.35, down 1.83 per cent on the BSE. Read more

Closing Bell:Sensex down 421 points, Nifty holds at 11202.85

Wednesday, July 29, 2020
At close, the Sensex was down 421.82 points or 1.10% at 38071.13, and the Nifty was down 97.60 points or 0.86% at 11202.90 as investors booked profit in the recent outperformers. Reliance Industries Ltd was the top Sensex loser followed by M&M, HCL Tech, and Nestle. While the gainers were IndusInd Bank, Tata Steel, UltraTech Cement, Sun Pharma, Bajaj Finance, and L&T.About 1359 shares have advanced, 1300 shares declined, and 129 shares are unchanged. Nifty Pharma gained 3 per cent, Nifty PSU Bank index gained over 1.5 per cent. Nifty Auto fell over 1 per cent. Most of the sectoral indices ended in the red, while Nifty Pharma, Nifty Metal, and Nifty PSU Bank were the top sectoral gainers.BSE MidCap index gained 0.68 per cent. BSE SmallCap gained over 0.4 per cent.

Moody's Investors Service forecast a negative outlook for the steel industry in India

Wednesday, July 29, 2020
Due to the adverse effect of coronavirus pandemic on the economy Steel consumption is expected to decline at least 10 percent for rated Indian steel-makers, says a report. Moody's Investors Service in the latest report has forecast a negative outlook for the steel industry in the Asia Pacific region. According to Moody's Investors Service, India's (Baa3 negative) economic growth will remain materially lower than in the past, with real GDP contracting 3 percent in 2020. "We assume that economic activity will gradually pick up in July. However, given the possibility for second or third waves of virus infections or deeper economic costs than currently factored in, the downside risk to these forecasts is significant," the agency said. Moody's estimates that lower GDP growth will translate into steel consumption falling at least 10 percent for rated steel-makers in the 12 months to March 2021.

India's GDP growth to lose momentum from late third quarter: Oxford Economics report

Wednesday, July 29, 2020
Oxford Economics, a Global forecasting firm, yesterday (28th July 2020) said it expects India's GDP growth to lose momentum from the late third quarter (October-December) of the current fiscal as the push from the initial reopening fades. It further said India fares the worst in its Asia recovery scorecard, implying that the country will likely take the longest among major economies to converge to its pre-coronavirus growth level. Oxford Economics, in a report titled 'India: A reopening went wrong', said the central government's attempts to restart the economy are already running aground. "In our baseline, we expect GDP growth to lose momentum from late Q3 on, once the push from the initial reopening fades and, likely compounded by the ongoing pandemic and inadequate policy support, legacy economic headwinds re-assert themselves. Read more

MARKET UPDATE:Volatile start: Sensex slipped 100 points to 38,400 levels, and Nifty slipped below 11,300-mark

Wednesday, July 29, 2020
The equity market in India had a volatile start today on the back of mixed cues in Asian markets. The S&P BSE Sensex slipped 100 points to 38,400 levels and the Nifty50 index slipped below the 11,300-mark. IndusInd Bank surged as much as 7 percent after the bank got approval to raise Rs 3,288 crore through preferential issue of fully paid-up shares. Besides, YES Bank also rose 3 percent higher after the announcement of its June quarter results. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 1.6 percent. One hundred and eighty companies are scheduled to announce their quarterly earnings today. Analysts expect Bharti Airtel to post a loss of as much as Rs 318.9 crore as compared to Rs 5,236.9 crore loss reported in Q4FY20. Revenue growth for the quarter, however, is likely to remain flat with India's non-wireless revenues traction remaining robust. Read more

UltraTech Cement surges 9% on better-than-expected Q1 show

Tuesday, July 28, 2020
Shares of UltraTech Cement moved higher by 9 per cent to Rs 4,210 on the BSE on Tuesday after the company reported better-than-expected operational performance in the April-June quarter of FY21 (Q1FY21). It reported a 36.4 per cent year-on-year (YoY) fall in net profit at Rs 806 crore compared with Rs 1,267 crore in the corresponding quarter last year due to one-time loss of Rs 157.4 crore and lockdown impact on revenue but beat analysts' estimates pegged at Rs 480 crore for the quarter. Revenue for the quarter fell 32.81 per cent YoY to Rs 7,290 crore compared with Rs 10,851 crore in the same quarter last year. The company doubled other income to Rs 278.8 crore against Rs 134.7 crore YoY, which supported profitability. The company’s consolidated net sales were at Rs 7,563 crore against Rs 11,229 crore over the corresponding period of the previous year. Read more

ICICI Bank is now the second most widely tracked stock in the world

Tuesday, July 28, 2020
ICICI Bank has now become the second most widely tracked stock in the world after e-commerce giant Alibaba. As many as 59 analysts covered ICICI Bank, and all of them had ‘buy’ ratings on the lender. On the other hand, 64 experts tracked Alibaba, and 63 had ‘buy’ ratings on the stock, while one had a ‘hold’ call, as per a report. In terms of wealth creation, the stock has outperformed the benchmark equity indices over the past 10 years: ICICI Bank had delivered 8.70 percent annualised return to investors between July 2010 and July 2020, while BSE Bankex has gained 8.50 percent CAGR and Sensex 7.8 percent.

Closing Bell: Sensex gains 558 points, Nifty at 11300.55

Tuesday, July 28, 2020
At close, the Sensex was up 558.22 points or 1.47% at 38492.95, and the Nifty was up 168.70 points or 1.52% at 11300.50 tracking gains from its Asian peers. Ultratech Cement, Kotak Mahindra Bank, TCS, M&M, Maruti Suzuki, IndusInd Bank and Tech Mahindra were major Sensex gainers, While ICICI Bank, Nestle India, Asian Paints, ONGC and ITC were among the top Sensex losers. About 1315 shares have advanced, 1300 shares declined, and 151 shares are unchanged. The nifty Auto index gained 3.21 per cent. Nifty IT index too jumped over 2 per cent. All the sectoral indices ended in the green.BSE Midcap and Smallcap indices rose over 0.5 per cent each.

Indian IT firms go aggressive in mergers and acquisitions

Tuesday, July 28, 2020
The top four Indian IT firms have a cash reserve of close to $15 billion. Market leader Tata Consultancy Services has around $5.9 billion, while it is around $3.6 billion for Infosys. Wipro is sitting on close to $3.4 billion, while HCL Technologies has $1.75 billion. As growth slows owing to the pandemic, these cash-rich tier-I IT services companies are pursuing organic growth, including acquisition, indicating a change in capital allocation policies. Apart from mergers and acquisitions (M&As), even large rebadging deals (outsourcing work while reducing employee strength) and buying out captives of global firms are part of these initiatives. This is being done to drive revenue growth at a time most firms posted a revenue decline in sequential terms in Q1 of FY21, which is traditionally considered to be a strong quarter for IT services companies. Read more

MARKET UPDATE:Sensex up by 210 points at 38,140 levels, and Nifty above at 11,200 level

Tuesday, July 28, 2020
Equity markets in India climbed higher today(28th July 2020), tracking gains from other Asian markets. The S&P BSE Sensex was trading around 38,140 levels, up 210 points and the Nifty50 index was trading above the 11,200-mark. Tech Mahindra surged over 5 percent after its June quarter profit before tax rose 32.9 percent sequentially to Rs 1,283 crore. IndusInd Bank also gained over 2 percent ahead of its quarterly results. Meanwhile, YES Bank tanked another 10 percent in early deals. The trend among Nifty sectoral indices was green, led by the Nifty IT index, up 1.3 percent. One hundred and thirty-two companies, including IndusInd Bank, UltraTech Cement, and Nestle India, are scheduled to announce their results today.

YES Bank hits 10% lower circuit after FPO shares list for trading

Monday, July 27, 2020
Private sector lender Yes Bank’s shares were locked in 10 % lower circuit at Rs 12.30 on the BSE on Monday after the listing of fresh shares allotted in the follow-on public offer (FPO). The stock was trading at Rs 12.30 per share, down from its previous close of Rs 13.65 apiece. 12,504 million equity shares of YES Bank are listed and admitted for trading on the exchange with effect from July 27, 2020. The private sector lender raised Rs 14,272 crore through the FPO, which was subscribed 95 per cent. The issue opened on July 15 and closed two days later.FPO had sailed through only due to the lender's underwriting agreement with SBICap, wherein the latter agreed to underwrite Rs 3,000 crore at a price equal to or the lowest end of the price band. YES BANK stock has consistently been falling since the pricing announcement of the FPO. It has fallen 54 per cent from the level of Rs 26.65 on July 9, 2020. There were pending sell orders of 41,640,911 shares, with no buyers available. Read more

Closing Bell: Sensex falls 194 points, Nifty at 11131.80

Monday, July 27, 2020
At close, the Sensex was down 194.17 points or 0.51% at 37934.73, and the Nifty was down 62.40 points or 0.56% at 11131.80 mainly on selling in financial counters. Asian Paints, HCL Tech, Infosys, TCS and BPCL were the top gainers on Sensex today. ICICI Bank, HDFC Bank, Axis Bank, Zee Entertainment and IndusInd Bank were major losers in the Sensex. About 857 shares have advanced, 1790 shares declined, and 161 shares are unchanged. Among sectors, IT and metal indices ended in the green, while banks, pharma, auto and FMCG remained under pressure. BSE Midcap and Smallcap indices fell 1 per cent each.

MARKET UPDATE:Fluctuating market-Sensex at 38,100 levels, and Nifty holding at 11,200 level

Monday, July 27, 2020
Equity markets in India fluctuated between minor gains and losses today(27th July 2020) amid mixed global cues. The S&P BSE Sensex hovered around 38,100 levels while the Nifty50 index continued to hold the 11,200 level. Among individual stocks, HDFC Bank dipped over 2 percent after Managing Director Aditya Puri sold 95 percent of his shareholding in the bank valued at Rs 842.7 crore between July 21 and July 23. YES Bank tanked 10 percent after the over 12.5 billion new shares issued in the follow-on public offering commenced trading. Besides, Reliance Industries, TCS, and HCL Tech rose over 1 percent each and were the top Sensex gainers. The trend among Nifty sectoral indices was mixed, with the Nifty Bank index, down 1.3 percent, leading the list of losers. One hundred companies including Tech Mahindra, Marico, and Havells India are scheduled to announce their quarterly results today.

Mphasis rallies 20% after June quarter profit rises to Rs 264

Friday, July 24, 2020
Shares of Mphasis rallied 20 per cent to Rs 1,174.7,hits fresh 52 Week high on the BSE on Friday after the company’s April-June quarter (Q1FY21) earnings came in-line with Street estimate. The company reported a 3.9 per cent increase in consolidated net profit at Rs 275.1 crore in the June 2020 quarter. Its net profit stood at Rs 264.6 crore in the year-ago period, Mphasis said in a regulatory filing. The company’s revenue from operations grew 10.9 per cent to Rs 2,288.2 crore in the quarter under review from Rs 2,062.5 crore in the year-ago period. The company announced new TCV (total contract value) wins of USD259m in 1QFY21 in Direct International. This is the highest ever TCV win for a quarter for Mphasis and comprises one large deal win of over USD100m TCV. Read more

Indian GDP may not shrink too severely: DEA Secy

Friday, July 24, 2020
Economic Affairs Secretary Tarun Bajaj Speaking at an event organised by industry body Ficci, said that based on tax collections so far, India’s economic contraction in this fiscal year might be less severe than anticipated and that the proposal of a ‘bad bank’ had been discussed internally, but no decision had been taken. “Currently, there is no proposal for debt monetisation on the table. Questions on fiscal position and debt monetisation plan should be asked after three-four months,” said Bajaj. Economists, including former RBI governor Raghuram Rajan, and former advisor to the Prime Minister, Rathin Roy, have advocated that the government can get the RBI to monetise deficit, provided it has a clear expenditure plan on where it wants to spend the resources it raises. Read more

Closing Bell:Sensex down 12 points, Nifty at 11194.15

Friday, July 24, 2020
At close, the Sensex was down 39.35 points or 0.10% at 38101.12, and the Nifty was down 21.30 points or 0.19% at 11194.20 with negative bias led by selling in financial, auto, and metal counters. HCL Tech and Reliance Industries were the top Sensex gainers followed by Tech Mahindra, Sun Pharma, and IndusInd Bank. Axis Bank, SBI, Zee Entertainment and ICICI Bank being the worst performers on Sensex. About 1055 shares have advanced, 1557 shares declined, and 140 shares are unchanged. Nifty Pharma was up 1.38%. Nifty Metal was down over 2%, followed by banking and finance indices. Nifty financial services were down 1.55%. Except IT and Energy other sectoral indices ended in the red, while BSE Smallcap and Midcap indices ended lower.

MARKET UPDATE:Sensex dips 250 points to 37,880 levels, and Nifty below 11,200

Friday, July 24, 2020
The Indian markets slipped half a percent today(24th July 2020), dragged down primarily by financials, due to weak global cues. The S&P BSE Sensex dipped 270 points to 37,880 levels and the Nifty50 index was hovering around 11,150-mark. Asian Paints and State Bank of India (both down 2%) were the top Sensex laggards. On the other hand, Sun Pharma rose as much as 3 percent in early deals, and Reliance Industries was also trading 1 percent higher on reports that Amazon is in talks to buy a 9.9 percent stake in its retail arm. Meanwhile, Biocon was trading with marginal gains after announcing its June quarter results while Mphasis rose over 5 percent after announcing its quarterly numbers. Barring the Nifty Pharma index, which is up 1 percent, the trend among Nifty sectoral indices was negative, led by the Nifty Bank index, down over 1 percent. Read more

Rossari Biotech shares surge about 65% on market debut

Thursday, July 23, 2020
Shares of Rossari Biotech made a strong debut by listing at Rs 670, a 58 per cent against its issue price of Rs 425 per share on the BSE on Thursday and rallied 64 per cent to hit a high of Rs 698 on the exchange. The company's nearly Rs 500-crore maiden offer was subscribed 79 times on the final day of bidding, according to data available on the exchanges. Its promoter shareholding has now fallen to 73% from 95%. The ₹496-crore IPO received bids for 64,87,33,645 shares against the total issue size of 81,73,530 shares, according to data available with the NSE. Rossari Biotech had raised ₹149 crores from anchor investors. Rossari is among the largest manufacturers of textile speciality chemicals in India. It also manufactures acrylic polymers. The company offers three main product categories -- namely home, personal care and performance chemicals; textile speciality chemicals and animal health & nutrition products.

Closing Bell: Sensex up 268 points, Nifty at 11215.45

Thursday, July 23, 2020
At close, the Sensex was up 268.95 points or 0.71% at 38140.47, and the Nifty was up 82.90 points or 0.74% at 11215.50. Reliance Industries, State Bank of India and ICICI Bank Eicher Motors were major gainers in the Sensex pack, While losers include Axis Bank, HUL, Shree Cements, Infosys, and TCS were major losers. About 1436 shares have advanced, 1184 shares declined, and 145 shares are unchanged. Nifty Metal index, up 0.7 per cent. Nifty IT down 0.18%. Except IT other indices ended in the green. BSE Midcap and Smallcap indices also ended higher.

stocks of 5paisa Capital has jumped nearly 300 percent

Thursday, July 23, 2020
stocks of 5paisa Capital has jumped nearly 300 percent from its March lows and has been a direct beneficiary of the surge in the number of retail investors amid the Covid-19 lockdown. It is the only listed company in the discount broking space. Analysts said it remains to be seen if the gains sustain going forward. The stock has risen 295 percent from its March lows, and it is up more than 83 percent on a year-to-date basis. It scaled its 52-week high of Rs 375.65 last Friday (17th July 2020). Read more

MARKET UPDATE:Indian markets trading with slim gains -Sensex rose 54 points to 37,920 levels, and Nifty at 11,150 levels

Thursday, July 23, 2020
The equity markets in India were trading with slim gains today(23rd July 2020), in line with the trends in Asian markets. The S&P BSE Sensex rose 54 points to 37,920 levels and the Nifty50 index hovered above 11,150 levels. Asian Paints (up 2%) was the top Sensex gainer. Larsen & Toubro was also trading over 1 percent higher after announcing its June quarter results. ICICI Securities also rose as much as 7 percent following the announcement of its quarterly results. Meanwhile, YES Bank hit a 20 percent lower circuit at Rs 14.60 on the BSE. The Nifty sectoral indices were trading mixed, with the Nifty Metal index, up 0.7 percent, leading the list of gainers. Specialty chemical company Rossari Biotech will get listed at the bourses today. The public issue, which consists of a fresh issue of Rs 50 crore and an offer for sale of 1.05 crore shares by promoters, saw a massive subscription of 79.37 times backed by QIB and non-institutional investors. Read more

Pune's Serum Institute of India is placing its bets on the Oxford-AstraZeneca vaccine candidate AZD1222

Wednesday, July 22, 2020
Oxford-AstraZeneca vaccine candidate AZD1222 being produced at Pune’s Serum Institute of India is most likely immunogenic and effective for mass use.CEO Adar Poonawalla stated that he would start manufacturing at personal risk. The company is investing $200 million in the vaccine facility and that he wants to keep the price at below Rs 1,000. I’m confident that the Oxford-AstraZeneca vaccine candidate will be immunogenic and effective for mass use. Once the trials are successful in India and the UK, we are certain that COVISHIELD will be one of the first vaccines to be introduced" Sri Poonawalla said. Read more

Bajaj Auto Q1 net profit plunges 53 per cent YoY to Rs 528

Wednesday, July 22, 2020
The Pune based two-wheeler major Bajaj Auto on Wednesday reported a standalone net profit of Rs 528 crore for the April-June quarter of FY21 (Q1FY21), down 53 per cent, from a profit of Rs 1,125.67 crore in the year-ago period, dented by lower volumes but the operating performance was ahead of analysts estimates. Sequentially, the profit tumbled 60 per cent from Rs 1,310.29 crore posted in the March quarter of FY20. Revenue from operations fell 60.3 per cent year-on-year to Rs 3,079.24 crore in the quarter ended June 2020, hit by lower sales volumes. Bajaj Auto said it sold 4,43,103 units during the first quarter against 12,47,174 units in the year-ago period. On a consolidated basis, the net profit was Rs 395.5 crore, down from Rs 1,012.16 crore clocked in Q1FY20. The company’s EBITDA (earnings before interest, tax, depreciation and amortisation) came to Rs 441 crore in the June quarter, while margin came in at 14.3 per cent. Read more

Burman family(Dabur India)may join hands with the Khaitans to manage the Eveready Ind. India

Wednesday, July 22, 2020
The promoters of Dabur India — The Burman family- may join hands with the Khaitan's of Williamson Magor Group to manage the country’s largest dry cell battery maker, Eveready Industries India. After the last tranche of a share purchase of 8.48 percent by the Burmans about a week back, the promoter holding in Eveready slipped below theirs. At present, the Burman family holding is at 19.84 percent while promoters of Eveready are at 15.07 percent. From the current holding pattern, the Burmans are likely to be the majority partner, sources said. With this partnership, the promoters of Eveready are hoping to ring-fence the long-term interests of the company. Eveready had earlier held talks with Energizer and Duracell for a slump-sale of the battery business. Finalising the deal is pending because of an interim order of the Delhi High Court, preventing a change in the capital structure and sale of assets of Eveready, McLeod Russel India, and other Williamson Magor group companies.

Closing Bell:Sensex dips 59 points, Nifty at 11132.60

Wednesday, July 22, 2020
At Close, Sensex ended 58.81 points or 0.16 per cent at 37871.52, and the Nifty shed18.60 points or 0.17 per cent at 11143.70. Axis Bank was the top gainer on Sensex followed by Titan and Power Grid. HUL was the top loser followed by Tata Steel, Hero MotoCorp and BPCL About 1164 shares have advanced, 1448 shares declined, and 147 shares are unchanged. Except for Nifty Bank, Nifty Pharma, Nifty Media, and Nifty Private Bank, all sectoral indices , auto, IT and PSU banks dragged the most and ended in the red.

MARKET UPDATE:Indian market volatile-Sensex slipped 70 points to 37,861 level, and Nifty at 11,144 level down 18 points

Wednesday, July 22, 2020
The benchmark S&P BSE Sensex slipped around 70 points, or 0.18 percent, to trade at 37,861 level, after hitting a high of 38,199 in the opening deals. Axis Bank, Bajaj Finserv, and ICICI Bank were the top gainers on the 30 shares index, while Hindustan Unilever, Maruti Suzuki, and Bajaj Finance were the top drags. Individually, Axis Bank leaped 6 percent after the lender's logged strong net interest income (NII) growth, controlled opex, and sequential decline in provisions. Besides, outstanding funded BB & below pool declined slightly to Rs 6,420 crore while the moratorium book plummeted to 9.7 percent, which eased concerns on the asset quality outlook. On the downside, HUL slipped 2 percent to Rs 2,277 on the BSE on profit booking post the FMCG major's June quarter result. Read more

23.5% Delhi residents had IgG antibodies:Sero-surveillance study by NCDC

Tuesday, July 21, 2020
In Delhi, 23.48 percent of Delhi's respondents had IgG antibodies as per a sero-surveillance study. This indicates that many people would likely be infected with coronavirus but asymptomatic. The study was conducted by the National Center for Disease Control (NCDC) in collaboration with the Delhi government from June 27 to July 10. A total of 21,387 samples were collected according to lab standards and then tested. These tests were not diagnostic but done to identify the presence of antibodies in the general population. Antibody testing done repeatedly over time generates important evidence for assessing the spread of the pandemic from time to time. Read more

Bajaj Finance Q1 Results:Profit falls 19% YoY to Rs 962 crore

Tuesday, July 21, 2020
NBFC major Pune based Bajaj Finance on July 21 reported a 19 per cent year-on-year (YoY) fall in consolidated net profit at Rs 962.32 crore for the quarter ended June 30. It had posted a net profit of Rs 1,195.25 crore in the corresponding quarter last year. The Pune-based company's net interest income rose 12% over the year-ago period to Rs 4,152 crore, against the Rs 3,637-crore forecast. Bajaj Finance made additional contingency provisions worth Rs 1,450 crore for Covid-19, taking the overall contingency provision to Rs 2,350 crore during the quarter. Consolidated revenue for the quarter came in at Rs 6,648.2 crore rising 14.5 per cent over Rs 5,805.5 crore in the corresponding period the previous year. Consolidated asset under management of the company increased 7 per cent YoY to Rs 1,38,055 crore during the quarter. Read more

Closing Bell:Sensex gains 511 points, Nifty at 11162.25

Tuesday, July 21, 2020
At close, the Sensex was up 511.34 points or 1.37% at 37930.33, and the Nifty was up 140.10 points or 1.27% at 11162.30. ICICI Bank was the top Sensex gainer followed by Ultra Cement, HCL Tech, Axis Bank, BPCL, Eicher Motors and HDFC Bank. while losers included Bajaj Finance, Bajaj Finserv, Britannia, Bharti Infratel and Cipla. About 1427 shares have advanced, 1223 shares declined, and 155 shares are unchanged. Nifty PSU Bank index gained to 2%, followed by Nifty Private Bank and Nifty Bank index. Auto, bank, energy, metal and infra sectors ended in the green, while pharma and FMCG stocks remained under pressure.

MARKET UPDATE:Sensex aup 400 points to 37,856 levelels, and Nifty 112.5 points up at 11,135 levels

Tuesday, July 21, 2020
The Indian stock market opened on a positive note today(21st July 2020) amid across-the-board buying and firm global cues. The S&P BSE Sensex was ruling over 400 points or over 1 percent higher at 37,856 levels while the NSE's Nifty50 was trading 112.5 points or 1 percent higher at 11,135 points. Among individual stocks, ICICI Bank was up 2.6 percent and was the top gainer on the Sensex, followed by Power Grid and Ultratech Cement. FMCG major HUL was trading nearly 0.5 percent higher at Rs 2,341.35 ahead of its June quarter numbers later in the day. On the sectoral front, all the indices on the NSE were trading in the green. Nifty PSU Bank was up over 2 percent at 1,472.40 levels. In the broader market, the S&P BSE MidCap index gained 0.78 percent higher at 13,761 levels while the S&P BSE SmallCap index was trading at 13,020, up 0.8 per cent. Read more

Infosys won a multi-year deal from US investment firm Vanguard worth $1.5 billion

Monday, July 20, 2020
Infosys won a multi-year deal from US investment firm Vanguard worth $1.5 billion, say sources. This will perhaps make it the biggest deal Infosys has ever signed. The sources also say the scope of the work could be extended to 10 years, with the contract value rising to over $2 billion. The mammoth deal explains a good part of the surge in the company’s share price on Wednesday and Thursday last week, and the confidence the company had in reinstating its revenue guidance for the year. Infosys won the deal in a hotly contested battle with Wipro in the final lap. Other serious contenders in the race included TCS and Accenture. It combines BPM services and digital transformation work to take Vanguard’s record-keeping services onto a cloud-based platform. The company will initially have 300-400 people working out of the facility and it will ramp up gradually, based on the release timeline, sources said.

M&M Financial gains 12% on 1:1 rights issues at Rs 50 per share

Monday, July 20, 2020
Shares of Mahindra & Mahindra Financial Services (MMFSL) were up 12 per cent to Rs 234 in the intra-day trade on the BSE on Monday after the company said its board approved a 1:1 rights issue at Rs 50 per share, amounting to Rs 3,089 crore. The issue will open on July 28 and close on August 11, it said in a regulatory filing. The record date for the same is July 23, 2020. The company has fixed the rights entitlement ratio as one fully paid-up equity share for every one fully paid-up equity share held by the eligible equity shareholders of the company, as on the record date. The issue size would consist of 61.77 crores fully paid-up equity shares of the face value of ₹2 each, for an aggregate amount not exceeding ₹3,089 crores. It would be priced at ₹50 per share, including a premium of ₹48 per share. The entire issue price will be payable at the time of making the application in the issue, the company said. Read more

Closing Bell: Sensex gains 398 points, Nifty at 11022.20

Monday, July 20, 2020
At close, the Sensex was up 398.85 points or 1.08% at 37418.99, and the Nifty was up 120.50 points or 1.11% at 11022.20.HDFC Bank, after reporting a 20% jump in net profit in the June quarter, was the top gainer on Sensex, followed by HCL Tech, Infosys, Britannia Industries, Bajaj Finance, HCL Tech, Bajaj Finserv and ICICI Bank. On the other end, Sun Pharma was a major loser followed by Titan, HUL, Cipla, Zee Entertainment, BPCL, and Kotak Mahindra Bank. About 1487 shares have advanced, 1154 shares declined, and 181 shares are unchanged. Nifty Private Bank index was up 1.34%, followed by Nifty Bank. Among sectors, except pharma other indices ended in the green. BSE Midcap and Smallcap indices ended with 1 per cent gain.

MARKET UPDATE:Sensex advanced 360 points to 37,380 levelels, and Nifty surpassed the crucial 11,000-mark

Monday, July 20, 2020
In Indian markets, bulls kept their hold on the benchmark indices today(20th July 2020) The frontline S&P BSE Sensex advanced 360 points, or 0.97 percent, to 37,380 level in the early deals with 20 out of 30 constituents trading in the green on the index. The broader Nifty50 index, on the other hand, surpassed the crucial 11,000-mark and hit a high of 11,013.90 level in the morning deals. Among individual stocks, HDFC Bank surged 3 percent to Rs 1,132 level after the bank's June quarter result came in line with Street expectations. That apart, parent company HDFC gained 1.5 percent on the Sensex. That apart, Vodafone Idea jumped 6 percent to Rs 9.4 apiece as it paid Rs 1,000 crore to the government over the weekend as part of its Adjusted Gross Revenue (AGR) dues. Read more

HDFC Bank posted a 5.15% rise in profit for Q1FY21

Saturday, July 18, 2020
HDFC Bank has posted a 5.15 percent rise in profit before tax (PBT) at Rs 8,973.8 crore for the first quarter ended June 2020 (Q1FY21). It had posted a PBT of Rs 8,533.6 crore in quarter ended June 2019 (Q1FY20). Its net profit for the reporting quarter rose by 19.6 percent to Rs 6,658.62 crore from a net profit of Rs 5,568.16 crore in Q1FY20. The Net Interest Income (NII) grew by 17.8 percent on a Year-on-Year basis from Rs 13,294.3 crore in Q1FY20 to Rs 15,665.4 crore in Q1FY21, driven by 20.0 percent growth in advances and 24.6 percent rise in deposits. Read more

Mahindra & Mahindra stock zooms 61% in 3 months

Friday, July 17, 2020
Mahindra & Mahindra (M&M) shares hit an over five-month high of Rs 588, up 3 percent on the BSE today(17th July 2020); extending its previous days’ 4 percent rally on the expectation of good June quarter earnings. In the past three months, the stock has outperformed the market by surging 61 percent, as compared to a 16 percent rise in the S&P BSE Sensex. For the January-March quarter (Q4FY20) quarter, M&M had reported a robust operational performance. The company reported a standalone net loss of Rs 2,500 crore, due to exceptional loss of Rs 2,800 crore on account of impairment on investments due to Covid-19. It had posted a net profit of Rs 849 crore in the year-ago quarter. EBITDA (earnings before interest, taxes, depreciation, and amortization) margins came at 12.4 percent down just 100 basis points on a quarter on quarter (QoQ) basis.

Britannia Q1 Results:Profit more than doubles to Rs. 543 Crore

Friday, July 17, 2020
Britannia Industries on Friday posted a strong set of numbers for the first quarter of the fiscal year 2020-21 (Q1FY21). The Company posted a 118.25 per cent year-on-year (YoY) rise in net profit at Rs 542.68 crore for the quarter ended June 30. It had posted a net profit of Rs 248.64 crore in the corresponding quarter last year. Revenue from operations jumped 26.7 per cent year-on-year to Rs 3,420.67 crore in June quarter 2020. Earnings before interest, tax, depreciation and amortisation jumped 81.4% to Rs 716.6 crore while the operating margin expanded to 21% from 14.6%. Numbers beat analysts' estimates on all parameters. Profit was expected at Rs 395 crore on revenue of Rs 3,255 crore and EBITDA was estimated at Rs 516 crore with margin at 15.9 per cent for the quarter, according to the average of estimates of analysts polled by CNBC-TV18. Read more

Closing Bell:Sensex gains 548 points, Nifty at 10901.70

Friday, July 17, 2020
At close, the Sensex was up 548.46 points or 1.50% at 37020.14, and the Nifty was up 161.70 points or 1.51% at 10901.70, led by energy, infra stocks.ONGC, Reliance Industries (RIL), Titan Company, HDFC Bank, M&M, Bajaj Finance and ICICI Bank were the top Sensex gainers. While Nestle India, TCS, Infosys, HCL Tech and Axis Bank were top Sensex losers. About 1622 shares have advanced, 978 shares declined, and 153 shares are unchanged. The nifty Metal index gained 2.25 per cent. Except IT all other sectoral indices ended in the green. BSE Midcap and Smallcap indices gained over 1 per cent each.

MARKET UPDATE:Sensex rose to 36,600 levels, and Nifty hovered around 10,800 mark

Friday, July 17, 2020
The Equity market in India was trading higher in today's(17th July 2020) range-bound session, lifted by metals and auto stocks. The S&P BSE Sensex rose 130 points to 36,610 levels and the Nifty50 index hovered around 10,800 levels. HCL Tech climbed as much as 2 percent after the announcement of its June quarter results. Britannia Industries also gained 2 percent ahead of the announcement of its quarterly results. Besides, Tata Steel, up 3 percent, was the top Sensex gainer. The trend among Nifty sectoral indices was positive, led by the Nifty Metal index, up 1 percent. Thirty-two companies including Britannia Industries, and ICICI Lombard are scheduled to announce their quarterly results.

Closing Bell: Sensex surges 420 points,Nifty at 10739.95

Thursday, July 16, 2020
At close, the Sensex was up 419.87 points or 1.16% at 36471.68, and the Nifty was up 121.80 points or 1.15% at 10740. Infosys gained the most followed by M&M, Nestle India, IndusInd Bank, Kotak Mahindra Bank, HCL Tech and Bajaj Finance. On the other hand, Tech Mahindra, ITC, NTPC, Power Grid Corporation of India. About 1058 shares have advanced, 1512 shares declined, and 158 shares are unchanged. Titan Company, ICICI Bank and Bharti Airtel were among top losers on the index. Nifty IT index was top sectoral gainer, with a growth of 2.82.BSE Midcap Index ended with a 0.7 per cent gain, while the BSE Smallcap index ended marginally lower.

India Coronavirus update: 32,695 new cases in the past 24 hours- biggest single-day spike yet

Thursday, July 16, 2020
India has recorded 32,695 Covid-19 cases in the past 24 hours — its biggest single-day spike yet — to take its total number of coronavirus cases to 970,596. With over 600 deaths on 15th July 2020, the country's Covid-19 the death toll has now reached 24,929. India, the third-most-affected country by total cases and eighth by death toll, has added 201,580 cases — 21% of its total tally — in the past 7 days alone. Worldometer recorded an increase of over 230,000 coronaviruses. The recovery rate in West Bengal has gone downhill since the last two weeks, while the rate of infection has been increasing — and all these when the city is facing an acute shortage of beds in both government and private hospitals. In the last two weeks, from 30 June to 14 July, Bengal’s discharge/recovery rate has fallen from 66.48 percent to 60 percent. In Kolkata, it has nosedived from 64 percent to 56 percent, according to state government data. Read more

MARKET UPDATE:Sensex, Nifty volatile;Sensex around 36,050 levels, and Nifty hovered 10,600 mark

Thursday, July 16, 2020
In Indian markets, benchmark indices erased the majority of the opening gains in a volatile start today(16th July 2020). The S&P BSE Sensex was trading near 36,050 levels and the Nifty50 index hovered around 10,600-mark. IT services major Infosys surged 10 percent after its June quarter results beat Street estimates with an 11.5 percent YoY rise in net profit at Rs 4,233 crore. Besides, other IT stocks also gained. HCL Tech, TCS, and Tech Mahindra climbed between 1 to 4 percent and were the top Sensex gainers. Twenty-two companies including Cyient and Bajaj Consumer Care are scheduled to announce their March quarter results today

Mukesh Ambani welcomes Google to Jio Platforms : RIL AGM Highlight

Wednesday, July 15, 2020
Google will invest Rs 33,737 crore for a 7.7 percent stake in Jio Platforms, announced RIL chairman, Mukesh Ambani at the 43rd Annual General Meeting of RIL shareholders. Addressing shareholders virtually, Ambani thanked them for their faith in the company and highlighted the recent capital raising efforts of the company that includes a rights issue and stake sales in Jio Platforms. Calling coronavirus the most disruptive event in modern world history, he said that adversity brings opportunity for growth. "Jio has designed and developed a complete 5G solution from scratch. It will be ready for trials as soon as the 5G spectrum is available and can be ready for field deployment next year," Ambani said at Reliance Industries' annual general meeting. Read more

Wipro surges 18% as Q1 operational performance beats Street estimate

Wednesday, July 15, 2020
Shares of Wipro surged 18 per cent to Rs 268.7 on the BSE on Wednesday, their biggest single-day percentage gain since May 2004 after the Bangalore based information technology (IT) services major reported a better-than-expected performance in June quarter of FY21. Around 2,972,739 shares changed hands on the counter. The total market cap of Wipro Ltd. stood at Rs 148689.7 crore. The company had reported a net profit of Rs 2,390.20 crore which grew by 0.11 per cent year-on-year (YoY) for the quarter ended June 30, beating analysts' expectations. Revenue stood at Rs 14,913.10 crore in the first quarter of the current financial year, marking a fall of 5.08 per cent compared to the previous quarter. The earnings before interest and tax (EBIT) grew by 3.3 per cent to Rs 2,782.2 crore and margin rose 146 bps QoQ to 19.06 per cent during the April-June period.

Closing Bell:Sensex slips 758 points from day's high,Nifty at 10618.20

Wednesday, July 15, 2020
At close, the Sensex was up 18.75 points or 0.05% at 36051.81, and the Nifty was up 10.80 points or 0.10% at 10618.20. Wipro gaining the most followed by Infosys, Tech Mahindra, HCL Tech, Tata Steel, Axis Bank, Bajaj Finance and TCS. On the other hand, Bharti Airtel, Reliance Industries, Kotak Mahindra Bank, ITC, Nestle India were among the top Sensex losers. RIL dips 4% post-AGM. About 1083 shares have advanced, 1503 shares declined, and 156 shares are unchanged. Nifty IT index gained 3 per cent followed by Nifty Metal index which gained over one per cent. Energy, infra and PSU bank ended lower. while buying witnessed in the IT, pharma, FMCG and Auto space.

MARKET UPDATE:Sensex up 430 points,around 36,450 levels, and Nifty topped the 10,700 level

Wednesday, July 15, 2020
In Indian markets, today(15th July 2020)benchmark indices rose over one percent on the back of firm global cues. The S&P BSE Sensex was trading around 36,450 levels, up 430 points, and the broader Nifty50 index topped the 10,700 level. Infosys gained 2 percent ahead of the announcement of its June quarter results later in the day. Besides, Reliance Industries was also trading one percent higher ahead of the company's 43rd Annual General Meeting which will be held via videoconferencing later in the day. Moreover, Wipro surged 10 percent in early deals after reporting better-than-expected quarterly numbers. All the Nifty sectoral indices were trading in the green, led by the Nifty IT index, up 2 percent. Read more

Some factors behind today's market crash

Tuesday, July 14, 2020
Markets witness sharp sell-off today with financials bearing the greatest brunt, on the back of weak global cues, and concerns with regard to rising Covid-19. Technically too, markets are trading closer to key resistance levels, so profit-booking is being witnessed. Going forward, we could see a rise in INDIA VIX, indicating short-term concerns and fears of the investor community. The 30-share flagship BSE Sensex plunged 752 points to 35,941 while broader NSE Nifty tumbled 219 points to 10,583. Bank, auto, financials, media, and metal stocks, which surged in the recent rally, were under heavy pressure. Read more

Biocon Share gains 5 %, as Company to launch COVID-19 drug

Tuesday, July 14, 2020
Shares of Bengaluru-based Biocon gained almost 7 per cent intraday on July 14 after the company said it will launch biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients on the basis of its clinical trials done on 30 patients across four centres. The price band will be around Rs 8,000 per vial. Itolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe Covid-19 complications and has been used since 2013 for the treatment of patients with moderate to severe chronic plaque psoriasis under the brand name Alzumab, the health ministry said. The company has received approval from the Drugs Controller General of India (DCGI) to market Itolizumab injection 25mg/5mL solution for emergency use in India for treating patients with cytokine storm.Itolizumab will be manufactured and formulated as an intravenous injection at Biocon’s bio-manufacturing facility at Biocon Park, Bengaluru.

Google may invest $4 bn in Reliance digital arm

Tuesday, July 14, 2020
Alphabet Inc's Google is in advanced talks to invest $4 billion for a stake in the digital arm of Reliance Industries Ltd, Bloomberg reported today (14th July 2020), according to some sources. Investors, including Facebook and KKR & Co, have already poured in a combined $15.64 billion for just over 25% in Jio Platforms. The funding spree, which began late April, and a share sale by Reliance have helped make India's biggest company net-debt free.

Closing Bell: Sensex drops 660 points, Nifty at 10607.35

Tuesday, July 14, 2020
At close, the Sensex was down 660.63 points or 1.80% at 36033.06, and the Nifty was down 195.30 points or 1.81% at 10607.40. IndusInd Bank, Axis Bank, Maruti Suzuki, State Bank of India (SBI), HDFC, Bajaj Finserv and ICICI Bank were major losers. While Bharti Airtel, Dr Reddy's Labs and Titan Company were major gainers. About 820 shares have advanced, 1829 shares declined, and 116 shares are unchanged. Nifty Bank index plunged 3.5 per cent, Nifty PSU Bank down 3.53 per cent and Nifty Private Bank index fell 3.68 per cent. Nifty Pharma was the only index that ended in the green-up 0.48 per cent, rest all the sectoral indices settled in the red.BSE Midcap and Smallcap indices ended 1 per cent lower. The volatility index, India VIX rose 5.73 per cent to 26.70 levels

MARKET UPDATE:Sensex down 315 points to 36,380 levels and Nifty slipped below the 10,750 levels

Tuesday, July 14, 2020
The markets in India slipped half a percent today (14th July 2020), dragged mainly by the HDFC twins, following weak global cues. The S&P BSE Sensex was down 315 points to 36,380 levels. Both HDFC and HDFC Bank slipped more than 2 percent and were among the top Sensex laggards after the latter conducted a probe into allegations of improper lending practices in its vehicle-financing operation. Besides, IndusInd Bank also dipped 2 percent. The broader Nifty50 index also slipped below the 10,750 levels. The trend among Nifty sectoral indices was largely negative, led by the Nifty PSU Bank index, down 1.6 percent. Read more

Some factors which can erode your wealth in the long term

Monday, July 13, 2020
Over 25 years, even a modest 5% inflation reduces the value of Rs 1 lakh to less than Rs 30,000 (see graphic). If inflation is higher at 7%, the value would drop to below Rs 20,000. So, while the amount may seem big today, the inflation-adjusted value of what you get back will not be substantial. The features of some life insurance policies can take your breath away. The return of premium term plans gives back the entire premium paid if the policyholder survives the full term. Just think about it. You can get an insurance cover of Rs 2-3 crore for 20-30 years and if you survive the term, the company will give back every rupee you paid as premium. It’s truly a great offer. Or is it? The money you will get back after 20-30 years would have lost a lot of its value by then. Read more

DMart shares tank 6 percent post Q1 nos

Monday, July 13, 2020
Shares of Avenue Supermarts tumbled 6 per cent to Rs 2,182, on Monday's trade after the company posted a weak set of numbers for the quarter ended June 2020. The Company on Saturday reported an 87.61 per cent year-on-year (YoY) plunge in consolidated net profit at Rs 40 crore for the June quarter. The Radhakishan Damani-led company had reported a profit of Rs 323 crore in the same quarter last year. Revenues were down 33.2% from Rs 5,815 in the previous year to Rs 3,883.2 crore in the quarter. Profit margin contracted 450 basis points YoY to 1 per cent for the quarter from 5.5 per cent in the corresponding quarter of last year. The operator of hypermarket stores DMart said that operations and financial performance during the quarter were hit by the lockdown. "For 1QFY21, Avenue Supermarts' top-line de-grew by 33% YoY to Rs 3,883 crore. Top-line was negatively impacted mainly due to COVID-19 lockdown. Currently, the company’s most of the stores operate at 80% of pre-COVID sales level. Read more

Closing Bell:Sensex gains 99.36 points, Nifty at 10802.70

Monday, July 13, 2020
At close, the Sensex was up 99.36 points or 0.27% at 36693.69, and the Nifty was up 34.70 points or 0.32% at 10802.70. Tech Mahindra, HCL tech, JSW Steel and Reliance Industries were the major gainers in the Sensex pack. HDFC Bank, Bajaj Finance, HDFC, Power Grid and ICICI Bank were major losers. About 1110 shares have advanced, 1543 shares declined, and 175 shares are unchanged. Nifty IT gained 1.2 per cent. Nifty PSU Bank index was down 1.7 per cent, followed by Nifty Bank index. Nifty Metal was top gainer while all banking and financial services indices were in the red. BSE Midcap and Smallcap indices ended flat.

Google announces $ 10 billion Google for India Digitisation Fund

Monday, July 13, 2020
Google announced "Google for India" Digitization Fund worth $10 billion (Rs 75,000 crore) today (13th July 2020), which the technology giant would invest in India over the next 5-7 years. The investment will be done through a mix of equity investments, partnerships, and operational, infrastructure, and ecosystem investments. Calling India's digital journey far from complete, Pichai announced the Google for India Digitization Fund that will invest nearly $ 10 billion in India over 5-7 years. "We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure, and ecosystem investments. This is a reflection of our confidence in the future of India and its digital economy," wrote Pichai. Read more

MARKET UPDATE:Sensex jumped 415 points to 37,000 levels and the Nifty at crucial 10,800 mark

Monday, July 13, 2020
The equity market in India started the week today (13th July 2020) on a strong note and was trading one percent higher, on the back of firm global cues. The S&P BSE Sensex jumped 415 points and reclaimed the 37,000 levels and the Nifty50 index conquered the crucial 10,800-mark. Reliance Industries rose over 2 percent and hit a lifetime high on the BSE after it announced the sale of 0.15 percent stake in Jio Platforms to Qualcomm Ventures for Rs 730 crore. Besides, Tata Steel and Tech Mahindra also gained 2 percent each. Meanwhile, Avenue Supermarts tumbled 5 percent after the announcement of its June quarter results. All the Nifty sectoral indices were trading in the green, led by the Nifty Metal index, up 1.8 percent. Eighteen companies including 5Paisa, India Home Loan, and MBL Infrastructures, are scheduled to announce their quarterly earnings today.

Government-gauranteed $40 billion loans is too little and may not be enough to save the pandemic hit companies

Friday, July 10, 2020
After months of lockdown, India reopened for business in June but for thousands of small entrepreneurs, the blow has been devastating. Businesses from textiles to sports goods and furniture are shuttered or working at a bare minimum. Govt's programme to help small businesses back on their feet through $40 billion of government-guaranteed loans is too little and may not be enough to save the many companies that form the backbone of India's economy, nearly three dozen entrepreneurs Reuters spoke to across the country said. Some said their business was so hamstrung by the pandemic that taking on new debt made little sense. They would rather the government had helped them by cutting the goods and service tax or waive off the interest on loans. Read more

Yes Bank share price dips 9% as board approves FPO price band

Friday, July 10, 2020
Yes Bank share price declined 9 per cent to close at Rs 244.3 on July 10 after the board of directors of the bank at its meeting held earlier today i.e., July 10, 2020, has approved the floor price of its ₹15,000 crore FPO or follow-on public offer at ₹12 per equity share and a cap of ₹13 per equity which opens on July 15 and closes on July 17, 2020. Employees of Yes Bank, have a Rs 200 portion reserved for them in the FPO, a discount of ₹1.00 per equity share will be given to the eligible employees of the bank bidding in employee reservation portion. The minimum bid lot is of 1,000 equity shares and in the multiples of 1,000 equity shares thereafter. State Bank of India will invest close to Rs 1,700 crore. A meeting of the CRC will be be held on July 14 for the allocation of equity shares to successful anchor investors pursuant to the offer and for determination of the anchor investor allocation price.

Closing Bell:Sensex slips 143 points, Nifty at 10768.05

Friday, July 10, 2020
At close, the Sensex was down 143.36 points or 0.39% at 36594.33, and the Nifty was down 45.50 points or 0.42% at 10768 amid weak global cues. Sun Pharma was the top gainer on Sensex followed by HUL, Bharti Airtel,Reliance Industries and Bajaj Finance. On the other end, Tech Mahindra was the top loser followed by Tata Steel, HDFC, Titan Company and IndusInd Bank. About 989 shares have advanced, 1646 shares declined, and 159 shares are unchanged. Nifty Pharma, Nifty Realty, and Nifty FMCG were the top sectoral gainers. Nifty PSU Bank index fell 2.67% while the Nifty Private Bank index was down 2.3%. Bank, metal and auto remained under pressure.

MARKET UPDATE: Sensex around 36,650; Nifty slipped below 10,800-mark

Friday, July 10, 2020
The Indian markets were trading with slight cuts today (10th July 2020) after weak cues from global markets. The S&P BSE Sensex hovered at around 36,650 levels. IndusInd Bank (down 2%) was the top Sensex loser, followed by Tech Mahindra and Mahindra & Mahindra (both down over 1%). TCS fluctuated between minor gains and losses after reporting a 13.8 percent YoY decline in its June quarter profits. The broader Nifty50 index also slipped below the crucial 10,800-mark. The majority of the Nifty sectoral indices were trading in the red, led by Nifty Private Bank and Nifty Metal indexes, both down 1 percent each. Forty-four companies, including IRCTC, Lakshmi Vilas Bank, SAIL are scheduled to announce their quarterly numbers.

Yes Bank share price jumps 5% as Rs 15,000 crore FPO to open on July 15

Thursday, July 9, 2020
Shares of YES Bank rose as much as 5.36 per cent to Rs 27.50 on the BSE on Thursday after the bank said it has filed paper for its proposed follow-on public offer, through which the lender is aiming to raise Rs 15,000 crore. The FPO issue will be open from July 15 to July 17 and bidding by anchor investors will be held on July 14, the three-day offer, which includes an employee reservation portion of up to Rs 200 crore. The bank has filed a red herring prospectus dated July 7, 2020 (RHP), in connection with the offer, with the Registrar of Companies, Maharashtra at Mumbai," YES Bank said in a regulatory filing.SBI told the exchanges on July 8 that it will invest up to Rs 1,760 crore in Yes Bank's follow-on public offer. Read more

Closing Bell:Sensex gains 408 points, Nifty at 10813.45

Thursday, July 9, 2020
At close, the Sensex was up 408.68 points or 1.12% at 36737.69, and the Nifty was up 107.70 points or 1.01% at 10813.50 after Prime Minister Narendra Modi, at the India Global Week Summit, said India was seeing green shoots of economic recovery. Hindalco Industries, SBI, Bajaj Finance, Tata Steel and HDFC were among major gainers on the Nifty, while losers were Bharti Infratel, Coal India, Tech Mahindra, ONGC and Hero MotoCorp. Nifty Auto, Nifty FMCG. Nifty Metal was up over 2%. Except for FMCG, other sectoral indices ended in the green. BSE Midcap and Smallcap ended with marginal gains.

Chemical stocks extend rally

Wednesday, July 8, 2020
Shares of chemicals, commodities, and specialty chemicals space were trading up to 15 percent higher on the BSE today(8th July 2020) amid reports that the government is planning to offer tax incentives to promote 'Make in India' for the chemical sector. As per media reports, the government is expected to offer tax incentives of 100 percent for the first five years while the same will be limited to 75 percent for the next five years and 50 percent for five years thereafter. The government may also infuse capital between 10 percent and 20 percent. Navin Fluorine International (Rs 1,765), Neogen Chemicals (Rs 593), and Ultramarine & Pigments (Rs 249) have hit their respective 52-week highs today.

Gold breached $1,800 barrier for the first time since 2011

Wednesday, July 8, 2020
Gold briefly breached $1,800 an ounce today(8th July 2020) for the first time since 2011 as mounting fears over the fast global spread of the coronavirus sent investors scurrying for safe havens. Spot gold had risen 0.3 percent to $1,799.22 per ounce by 0854 GMT, after hitting its highest since November 2011, at $1,800.18, earlier in the session. US gold futures rose 0.2 percent to $1,812.90 per ounce. European shares opened lower as soaring COVID-19 cases dented hopes of a swift economic recovery. Read more

IndusInd Bank gains 9 per cent on report Route One Investment may raise stake

Wednesday, July 8, 2020
IndusInd Bank share price gained over 9% to Rs. 577 in early trade today after a report said US-based hedge fund Route One Investment is likely to raise stake in the private sector lender from current 5.4 per cent to 9.9 per cent. The stock price has gained over 20 per cent in the last 7 days. The market cap of the bank rose to Rs 39,526 crore. Total 24.64 lakh shares changed hands amounting to a turnover of Rs 138.02 crore. Currently, Route One Investment Company has a 5.41 per cent stake in IndusInd Bank through two entities but plans to hike it to around 9.9 per cent through preferential allotment of shares, enabling the bank to strengthen its Balance Sheet and raise capital. The promoters wish to raise their stake in the company to 26 per cent but RBI has reportedly struck down this plan. Read more

Closing Bell:Sensex down 345.51 points, Nifty at 10705.75

Wednesday, July 8, 2020
At Close, Sensex was down 345.51 points or 0.94 per cent at 36329.01, and the Nifty shed 93.90 points or 0.87 per cent at 10705.75. IndusInd Bank was the biggest gainer in Sensex followed by State Bank of India, Tata Steel and Hindustan Unilever. Infosys, HCL Tech, Maruti, Bajaj Finance, and NTPC were major losers in Sensex pack. About 1225 shares have advanced, 1492 shares declined, and 159 shares are unchanged. Nifty PSU Bank index was up 3.11% and Nifty Pharma index, up 1.11%. Nifty IT, Nifty Auto, Nifty media were in the red.

MARKET UPDATE: Sensex up 120 points to hover around 36,800; Nifty holds 10,800

Wednesday, July 8, 2020
Equity markets in India were trading with slim gains today(8th July 2020), lifted by public sector banks and metals. The S&P BSE Sensex was up 120 points to 36,800 levels and the Nifty50 index hovered around 10,830-mark. IndusInd Bank (up 5%) gained the most among Sensex constituents, followed by Bajaj Auto and Mahindra & Mahindra (both up 1%). As per media reports, US-based hedge fund Route One Investment Company is in talks to increase its stake in IndusInd Bank. Titan Company rose a little over 1 percent after giving a business update for the June quarter of FY21. The Nifty sectoral indices were largely in the green, led by the Nifty PSU Bank index, up 1.5 percent. Twelve companies are slated to report their March quarter earnings today, while South Indian Bank is scheduled to report June quarter results.

India Inc's combined dividend payout rises 6.5%

Tuesday, July 7, 2020
The current dividend season has turned out to be unexpectedly generous despite a poor show by India Inc in the fourth quarter and fiscal year ended March 2020. The combined dividend payout by India’s top listed companies, which are part of the BSE500 Index, for FY20 was up 6.5 percent, the fastest growth in the past three years. And, equity investors should thank cash-rich biggies such as Tata Consultancy Services (TCS), ITC, Hindustan Unilever, Nestlé, and Bajaj Auto for this. However, excluding consumer and software services companies, dividend payout is down 17.6 percent year-on-year (YoY) to Rs 1.12 trillion in FY20, from Rs 1.36 trillion a year ago. In contrast, these firms had raised the payout by 5.3 percent in FY19. Read more

Bandhan Bank jumps 13% post Q1 business update

Tuesday, July 7, 2020
Shares of Bandhan Bank jumped as much as 13 %to Rs 402 on the BSE on Tuesday after the bank reported healthy loan and deposit growth in the April-June quarter on a yearly basis despite nationwide COVID-19-induced lockdown. Bank saw its deposits growing 35 per cent year-on-year (YoY) to Rs 60,602 crore at the end of Q1FY21, compared to Rs 44,796 crore in Q1FY20. Loans and advances grew 18 per cent YoY to Rs 74,325 crore in Q1FY21 as against Rs 63,164 crore in Q1FY20. The share of micro-banking deposits to total deposits stood at 5 per cent on June 30 against 5.7 per cent on March 31. The stock has surged over 118 per cent in the last 3 months. Read more