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MARKET UPDATE: Sensex down 150 points to 61,475, and the Nifty moved 30 points lower to 18,300

MARKET UPDATE: Sensex down 150 points to 61,475, and the Nifty moved 30 points lower to 18,300

Tuesday, November 15, 2022

Equity markets were volatile in today's(15 November 2022) trade despite positive moves across their global peers. The BSE Sensex was down 150 points to 61,475, and the NSE Nifty50 moved 30 points lower to 18,300. The broader markets were largely flat. The BSE MidCap was down 0.03 percent and the SmallCap index held similar gains. Sector-wise movements were also muted with the highest gains in the Nifty Auto index, which was up 0.5 percent. While FMCG and Realty, indices were the sole losers with downward of 0.6 percent and 0.4 percent, respectively. Read more

MARKET UPDATE: Sensex advanced over 300 points to trade at 61,290 levels and Nifty50 climbed over 100 points to trade above 18,200 levels

MARKET UPDATE: Sensex advanced over 300 points to trade at 61,290 levels and Nifty50 climbed over 100 points to trade above 18,200 levels

Monday, November 7, 2022

Indian equity markets trimmed gains in today's(7 November 2022) intra-day trade, however, traded in the positive territory. Key indices Nifty50 climbed over 100 points to trade above 18,200 levels and the S&P BSE Sensex advanced over 300 points to trade at 61,290 levels. Broader markets, too, jumped in tandem as Nifty MidCap 100 and Nifty SmallCap indices gained up to 0.7 percent. Barring Nifty IT and Nifty Pharma indices, all sectors traded on a positive note. The nifty PSU Bank index gained the most, up over 5 percent. Among individual stocks, shares of SBI gained over 5 percent after the lender's net profit rose 74 percent year-on-year (YoY) to Rs 13,265 crore in Q2FY23. Besides, shares of Britannia Industries zoomed 10 percent to hit an all-time high of Rs 4,181.4 per share, after the company reported robust revenue growth in Q2FY23.

MARKET UPDATE: Sensex dropped over 500 points to trade at 56,579 levels, while Nifty50 declined over 100 points to trade below 16,900 levels

MARKET UPDATE: Sensex dropped over 500 points to trade at 56,579 levels, while Nifty50 declined over 100 points to trade below 16,900 levels

Wednesday, September 28, 2022

Opening Bell: Weak foreign flows, tepid global sentiments, and hopes of tighter monetary policy drove Indian equity markets lower today (28 September 2022) morning. Key indices Nifty50 declined over 100 points to trade below 16,900 levels and the S&P BSE Sensex dropped over 500 points to trade at 56,579 levels. The muted risk appetite among investors also kept broader markets in negative territory as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped in the range of 0.6 to 0.7 percent. Likewise, all sectors started to trade in a bearish tone. Nifty Auto, Nifty Metal, and Nifty Bank indices faced the biggest fall as they declined over 1 percent each. Read more

MARKET UPDATE: Sensex jumped over 350 points to trade at 57,535 levels, while Nifty50 climbed 100 points to trade above 17,100

MARKET UPDATE: Sensex jumped over 350 points to trade at 57,535 levels, while Nifty50 climbed 100 points to trade above 17,100

Tuesday, September 27, 2022

Opening Bell: Indian equity markets started today's (27 November 2022) trade on a positive note as global recession fears receded. Key indices Nifty50 climbed 100 points to trade above 17,100 and the S&P BSE Sensex jumped over 350 points to trade at 57,535 levels. Similar strength was reflected in broader markets too, as Nifty MidCap 100 and Nifty SmallCap 100 surged up to 0.6 percent. All sectors opened with marginal gains. Nifty PSU Bank, Nifty Media, Nifty Metal, and Nifty Auto indices climbed up to 1 percent in trade. Read more

MARKET UPDATE:Sensex gained over 300 points to trade at 60,432 levels, while Nifty50 opened over 100 points higher to reclaim the 18,000-mark

MARKET UPDATE:Sensex gained over 300 points to trade at 60,432 levels, while Nifty50 opened over 100 points higher to reclaim the 18,000-mark

Tuesday, September 13, 2022

Frontline indices Nifty50 opened over 100 points higher to reclaim the 18,000-mark, after a hiatus of five months, whereas the S&P BSE Sensex gained over 300 points to trade at 60,432 levels. The strength spilled across broader markets too, as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.6 percent. While Bajaj Finserv, SBI, Infosys, Wipro, Titan, and HDFC Bank were the top contributors to the benchmark indices; weakness in HCL Technologies, Asian Paints, Maruti Suzuki, Cipla, and Sun Pharma capped the upside. All sectors opened on a cheerful note with Nifty Media and Nifty Bank indices leading the pack. Among individual stocks, shares of Gujarat Apollo Industries hit a 20 percent upper circuit after the company inked a pact with Belgium-based PFH BV for agricultural components. Besides, shares of IRB Infrastructure gained over 4 percent after the company's toll collection rose 35 percent YoY to Rs 336 crore in August.

MARKET UPDATE:Sensex climbed over 300 points at 59,793 levels and the Nifty50 rose over 50 points to trade above 17,750 levels

MARKET UPDATE:Sensex climbed over 300 points at 59,793 levels and the Nifty50 rose over 50 points to trade above 17,750 levels

Tuesday, August 16, 2022

Opening Bell: Markets opened higher in today's ( 16 august 2022) trade on the BSE amid positive global cues. Frontline indices Nifty50 rose over 50 points to trade above 17,750 levels, while the S&P BSE Sensex climbed over 300 points at 59,793 levels. Broader markets, too, rose in tandem as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.6 percent. Sector-wise, Nifty Auto, Nifty Bank, and Nifty IT were the winners. Nifty Metal, however, was the sole sectoral loser in the trade. Among individual stocks, shares of Mahindra & Mahindra (M&M) hit a 52-week high of Rs 1,298 per share after the auto major launched five new electric SUVs.

MARKET UPDATE: Sensex rose 700 points to 53,335, while Nifty gained 180 points to 15,880

MARKET UPDATE: Sensex rose 700 points to 53,335, while Nifty gained 180 points to 15,880

Monday, June 27, 2022

The Indian markets were firmly higher in early trades today(27 June 2022) tracking strength in the US and Asia. The BSE Sensex rose 700 points to 53,335, while the NSE Nifty gained 180 points to 15,880. In the broader markets, the BSE MidCap and SmallCap indices also sat in the positive territory, rising 1 percent and 1.6 percent, respectively. Sector-wise also all pockets moved higher. Nifty IT and metals led the gains, rising over 2 percent each. Banks, Auto, Financials, and Realty also gained over 1 percent each. Among stocks, Hindustan Copper gained over 2 percent. The state-owned company will meet on Thursday to consider a proposal to raise up to Rs 500 crore via debentures. SBI cards rose 3 percent after the company's May credit card spending rose by 8 percent from April.

MARKET UPDATE: Sensex rose 500 points to 52,800, and Nifty advanced 150 points to 15,710

MARKET UPDATE: Sensex rose 500 points to 52,800, and Nifty advanced 150 points to 15,710

Friday, June 24, 2022

In tune with positive global cues across the US and Asian equities, the Indian markets opened firmly higher today(24 June 2022). The BSE Sensex rose 500 points to 52,800, and the NSE Nifty advanced 150 points to 15,710. IndusInd Bank, Axis Bank, SBI, ICICI, Bajaj Finance, Wipro, Tata Steel, Bharti Airtel, HUL, and Ultratech Cement led gains on the Sensex, gaining up to 2.7 percent. ONGC and Apollo Hospitals were the additional winners on the Nifty. Tech M and Asian Paints were the only losers on the two benchmarks. In the broader markets, the BSE MidCap and SmallCap indices were also in the positive territory, rising up to 1 percent. Read more

MARKET UPDATE: Sensex rose 325 points at 57,626 while Nifty gained 86 points at 17,178 levels

MARKET UPDATE: Sensex rose 325 points at 57,626 while Nifty gained 86 points at 17,178 levels

Wednesday, February 23, 2022

The Indian benchmark indices started to trade on a fairly positive note today (23 Feb.2022)ending the losing streak of the previous five sessions amid the rising geopolitical tensions and oil prices. The BSE Sensex rose 325 points at 57,626 while the NSE Nifty50 gained 86 points at 17,178 levels. Among the Sensex-30 shares, Kotak Bank, Maruti, M&M, Titan, SBI, Bajaj Finance, IndusInd Bank, Asian Paints, and Tata Steel were the top gainers, up to 2 percent higher. Tata Motors, Tata Consumer, Coal India, and Adani Ports were the additional gainers on the Nifty. On the downside, ONGC, Divis Labs, Eicher Motors, and L&T, meanwhile were the only losers on the bourses, down up to 0.4 percent. Read more

MARKET UPDATE:Sensex 201 points higher at 57,822, while Nifty at 17,288, up by 74 points

MARKET UPDATE:Sensex 201 points higher at 57,822, while Nifty at 17,288, up by 74 points

Tuesday, February 8, 2022

The Indian benchmark indices opened on a fairly positive note today(8th February 2022) after a day of huge sell-off. The BSE Sensex was 201 points higher at 57,822, while the NSE Nifty was at 17,288, up by 74 points. In the broader market, the BSE MidCap and SmallCap indices were also in green and were up to 0.49 percent higher. The top Sensex gainers were Maruti, Titan, Tata Steel, Dr. Reddy's, Bajaj Finserv, Reliance, Wipro, Sun Pharma, and Bharti Airtel, trading up to 2 percent higher. Hindalco, Eicher Motors, JSW Steel, and Cipla were the additional gainers on the Nifty. On the flip side, PowerGrid, SBI, NTPC, HDFC, L&T, IndusInd Bank, TCS, Nestle, Infosys, Tata Consumer, and Britannia were the top losers. Read more

MARKET UPDATE:Sensex up 696 points at 57,876 and Nifty at 17,316, higher by 214 points

MARKET UPDATE:Sensex up 696 points at 57,876 and Nifty at 17,316, higher by 214 points

Monday, January 31, 2022

The Indian 8benchmark indices started higher today(31st February 2022) with support from positive global markets and on the back of broad-based buying. The BSE Sensex was up 696 points at 57,876 and the NSE Nifty was at 17,316, higher by 214 points. Among Sensex shares, Asian Paints, Infosys, Wipro, IndusInd Bank, Tata Steel, Bajaj twins, Infosys, Tech M, HCL Tech, Ultratech Cement, Dr. Reddy's, Titan, and SBI were the top gainers, up between 1.5-3 percent. On the Nifty, ONGC, Divis Labs, Britannia, BPCL, and UPL were the additional gainers. On the flip side, IndusInd Bank, L&T, Coal India, and NTPC were the sole losers on the bourses. In the broader markets, the BSE Midcap and SmallCap indices were in the green, up 1.3 and 1.4 percent, respectively. Read more

MARKET UPDATE:Sensex up 500 points at 57,774, while Nifty at 17,258 higher by 148 points

MARKET UPDATE:Sensex up 500 points at 57,774, while Nifty at 17,258 higher by 148 points

Friday, January 28, 2022

The Indian benchmark indices opened fairly positive today(28th January 2022) after being volatile throughout the week amid a global sell-off. The BSE Sensex was up 500 points at 57,774, while the NSE Nifty was at 17,258 higher by 148 points. Among the Sensex-30 shares, NTPC, Tata Steel, Sun Pharma, Bharti Airtel, Titan, Wipro, Bajaj Finance, IndusInd Bank, M&M, and Asian Paints were the top gainers, up between 1-3 percent. ONGC, Tata Consumer, and IOC were the additional gainers on the Nifty. On the flip side, HDFC twins and Maruti were the only losers on the bourses. In the broader markets, the BSE MidCap and SmallCap indices were also in the green zone, up over 1 percent each, respectively. Read more

MARKET UPDATE:BSE Sensex up 343 points 60,960, and NSE Nifty nearly 100 points higher at 18,154

MARKET UPDATE:BSE Sensex up 343 points 60,960, and NSE Nifty nearly 100 points higher at 18,154

Wednesday, January 12, 2022

The Indian benchmark indices were firm in early morning deals today(12th January 2022) holding their opening gains on the back of buying in heavyweight RIL, private lender HDFC and select banking counters such as ICICI Bank, Kotak Bank, and SBI. All of these were up between 0.9-1.6 percent. The BSE Sensex was up 343 points 60,960, after reclaiming the 61,000 mark at open. The NSE Nifty was nearly 100 points higher at 18,154. The BSE MidCap and SmallCap indices too were firmly positive and were up 0.7 and 0.8 percent, respectively. Sectorally, on the NSE, the Realty index was the leading gainer, up nearly 3 percent, followed by metals, energy, and PSU Banks. Read more

MARKET UPDATE:BSE Sensex up over 174 points at 60,570, and NSE Nifty at 18,047, higher by 44 points

MARKET UPDATE:BSE Sensex up over 174 points at 60,570, and NSE Nifty at 18,047, higher by 44 points

Tuesday, January 11, 2022

The Indian benchmark indices started on a positive note today(11th January 2022) extending the previous session's strong rally. The BSE Sensex was up over 174 points at 60,570, and the NSE Nifty was at 18,047, higher by 44 points. In the broader market, the BSE MidCap and SmallCap indices were also in the green zone and were up 0.2 and 0.6 percent, respectively. Among the Sensex-30 constituents, HDFC, NTPC, Ultratech Cement, PowerGrid, Sun Pharma, HUL, IndusInd Bank, Bajaj Finserv, Titan, and Dr. Reddy's were the top gainers, up between 0.4-1.6 percent. On the Nifty, Grasim, Tata Consumer, Shree Cement were the additional gainers. Meanwhile, Tata Steel, Bajaj Finance, Asian Paints, M&M, Kotak Bank, L&T, ICICI Bank, SBI, and Axis Bank were the top losers, down 0.3-4 percent on the BSE. Read more

MARKET UPDATE:BSE Sensex at 59,869, up 267 points, while the Nifty50 79 points higher at 17,825

MARKET UPDATE:BSE Sensex at 59,869, up 267 points, while the Nifty50 79 points higher at 17,825

Friday, January 7, 2022

The Indian benchmark indices started on a fairly positive note today (7th January 2022) a day after heavy sell-offs on weak global cues. The BSE Sensex was at 59,869, up 267 points, while the Nifty50 was 79 points higher at 17,825. The two indices were 0.46 percent up, as compared to yesterday's over 1 percent fall. In the broader market, the BSE MidCap and SmallCap indices were also in green and were up 0.5 and 0.6 percent, respectively. Among the Sensex-30 constituents, Titan, ICICI Bank, HDFC Bank, PowerGrid, SBI, and RILwere the top gainers.

MARKET UPDATE:BSE Sensex waat 58, 587, up 334 points, while the Nifty50 was at 17,464, 110 points higher

MARKET UPDATE:BSE Sensex waat 58, 587, up 334 points, while the Nifty50 was at 17,464, 110 points higher

Monday, January 3, 2022

The Indian benchmark indices started on a positive note on the first trading day of the new year(3rd January 2022) and were up by 0.6 percent. The BSE Sensex was at 58, 587, up 334 points, while the Nifty50 was at 17,464, 110 points higher. In the broader market, the BSE MidCap and SmallCap indices were also in the green and were up 0.5 and 0.8 percent. Among the Sensex-30 constituents, Tech Mahindra, TCS, Wipro, Asian Paints, HCL tech, PowerGrid, Infosys, NTPC, Titan, RIL were the top gainers, up 0.6-1 percent. While Ultratech Cement and M&M were the losers. All sectoral indices were also positive except pharma.

MARKET UPDATE:Sensex crossed the 58,000 mark and at 58,131, up over 300 points, while the NSE Nifty up nearly 100 points at 17,300

MARKET UPDATE:Sensex crossed the 58,000 mark and at 58,131, up over 300 points, while the NSE Nifty up nearly 100 points at 17,300

Friday, December 31, 2021

The Indian benchmark indices had a positive start today after four days of muted action and rallied up to 0.6 percent. The BSE Sensex crossed the 58,000 mark and was at 58,131, up over 300 points, while the NSE Nifty was up nearly 100 points at 17,300. The broader markets were also in the green. The BSE MidCap and SmallCap indices were 0.7and 0.9 percent higher, respectively. Among the Sensex-30 shares, Titan, Kotak Bank, Axis Bank, Tata Steel, ICICI Bank, Ultratech Cement, Reliance, Bharti Airtel, M&M, ITC, HUL, were among the major gainers, up 0.6-2 percent. On the Nifty, Hindalco (up 3.5 percent), Tata Motors( up 1.8 percent), and Grasim( up 1.4 percent) were the additional gainers. Read more

MARKET UPDATE:Sensex testing the 58,000-mark,up over 100 points and the Nifty50 nearky 30 points higher, at 17,272

MARKET UPDATE:Sensex testing the 58,000-mark,up over 100 points and the Nifty50 nearky 30 points higher, at 17,272

Wednesday, December 29, 2021

The Indian benchmark indices continued to inch up and held onto mild gains today (29th December 2021). The BSE Sensex was testing the 58,000-mark and was up over 100 points, while the NSE Nifty 50 was nearly 30 points higher, at 17,272. The broader market was a bit higher than the frontline indices. The BSE MidCap and SmallCap indices were trading 0.4 and 0.7 percent higher, respectively. Among stocks, Amara Raja Batteries was up 1 percent after the company, as part of its strategic initiatives to venture into the new-energy business and EV batteries agreed to invest up to Euro 10 million by way of equity and convertible bonds in InBot Auto AS, Oslo Norway. Read more

MARKET UPDATE:Sensex up 393 points at 57,814 and the Nifty50 at 17200, up 114 points

MARKET UPDATE:Sensex up 393 points at 57,814 and the Nifty50 at 17200, up 114 points

Tuesday, December 28, 2021

The Indian benchmark indices opened higher today(28th Dec.2021) supported by robust global sentiment and were rallying up to 0.7 percent. The BSE Sensex was up 393 points at 57,814 and the Nifty50 was at 17200, up 114 points. In line with this, broader market indices-BSE MidCap and SmallCap-were also in the positive zone, trading 0.5 percent and 0.8 percent up, respectively. On the NSe, Nifty SmallCap 100 and 250 indices were leading the gains, trading 1.2 percent up. On the Sensex, apart from Dr. Reddy's Labs, down 0.5 percent, the rest were trading in the green. Asian Paints, HCL Technology, PowerGrid, Infosys, NTPC, Axis Bank, Tech Mahindra, Bajaj Finserv, SBI Bank were the leading gainers, up 0.6-1.4 percent. Read more

MARKET UPDATE: Sensex surged 261 points to quote at 57,224 level while Nifty at 17,039 up 83 points

MARKET UPDATE: Sensex surged 261 points to quote at 57,224 level while Nifty at 17,039 up 83 points

Thursday, December 23, 2021

Indian benchmark indices, in line with positive global market trends, the benchmark indices opened higher and rose up to 0.5% today(23rd Dec.2021). The BSE Sensex surged 261 points to quote at 57,224 level while the Nifty50 was at 17,039, up 83 points. In the broader markets, the BSE MidCap and SmallCap indices gained 0.6 per cent each.

MARKET UPDATE:Sensex up 394 points at 62,159 and the NSE Nifty up 112 points at 18,589

MARKET UPDATE:Sensex up 394 points at 62,159 and the NSE Nifty up 112 points at 18,589

Tuesday, October 19, 2021

The Indian markets were trading on a firm note in morning trade today(19th Oct.2021), with the BSE Sensex up 394 points at 62,159, and the NSE Nifty up 112 points at 18,589. The broader market was also trading on a firm note, with both the BSE Midcap and Smallcap indices up around 0.8 percent each. The overall market breadth was also largely positive, with nearly 1,700 advancing shares versus 1,100 declining stocks on the BSE. IRCTC joined the elite club of companies commanding Rs 1-trillion market capitalization (m-cap) on the BSE after its share price hit a new high of Rs 6,332.25 in the intra-day trade today. The shares rallied nearly 8 percent today and have zoomed 33 percent in the past five trading days and a whopping 293 percent in the last six months. L&T Infotech surged 10 percent to a high of Rs 6,496 on the NSE on the back of 21 percent YoY growth in Q2FY22 net at Rs 552 crore. Revenue was up 25.6 percent at Rs 3,767 crore in the same period.

MARKET UPDATE:Sensex up 350 points at 59,123 and Nifty up 100 points at 17,634

MARKET UPDATE:Sensex up 350 points at 59,123 and Nifty up 100 points at 17,634

Monday, October 4, 2021

The Indian benchmark indices kicked off the week on an upbeat note amid mixed cues from global markets. The Sensex was up 350 points at 59,123. The Nifty, meanwhile, was up 100 points at 17,634. Top gainers on the 50-pack index include Divi's Lab, Tata Motors, M&M, and NTPC. Grasin, JSW Steel, Eicher Motors, and Nestle India remain top laggards. The broader indices, too, opened in the positive territory with the Nifty Midcap 100 up 0.7 percent and the Smallcap 100 0.09 percent. The volatility indicator-India VIX-rose by 1.6 percent at 17.48 level.

MARKET UPDATE:Sensex trading 240 points up at 60,280 level while Nifty held above the 17,900 level at 17,925

MARKET UPDATE:Sensex trading 240 points up at 60,280 level while Nifty held above the 17,900 level at 17,925

Monday, September 27, 2021

The benchmark indices in India today (27th Sept.2021) kicked off the week on an upbeat note, tracking positive global cues. The BSE Sensex was trading 240 points up at 60,280 levels. The Nifty50, meanwhile, held above the 17,900 level at 17,925. ONGC, Tata Motors, M&M, Maruti Suzuki, and Eicher Motors were among the top gainers in the 50-pack index while the top laggards were Divi's Lab, Wipro, HCL Tech, and Cipla. Nifty Bank led the gainers in the sectoral space after it hit a fresh record high of 38,177. The index was trading nearly 1 percent higher. Other sectors that were gaining included Nifty Realty, Auto, PSU Bank, and Media. Some selling was seen in IT, FMCG, and pharma stocks. The broader indices, too, opened in the positive territory with the Nifty Midcap 100 up 0.1 percent and the Smallcap 100 higher by 0.3 percent. The volatility indicator--India VIX--rose by 3.3 percent at 17.47 level.

MARKET UPDATE:BSE Sensex valued past the 58,000 for the first time and Nifty hit a new peak of 17,300

MARKET UPDATE:BSE Sensex valued past the 58,000 for the first time and Nifty hit a new peak of 17,300

Friday, September 3, 2021

The Indian benchmark indices, led by a positive global market setup, hit new record highs at opening tick today(3rd September 2021). The BSE Sensex valued past the 58,000 marks for the first time. It rose 200 points to 58,081. Meanwhile, NSE Nifty also hit a new peak of 17,300, up 55 points. Kotak Bank, Titan, RIL, and IndusInd Bank were the top gainers in the 30-pack index while HCL Tech, TCS, Nestle India, and Maruti were the top losers. Broader market indices rose in tandem with the benchmark. BSE Midcap and Smallcap were up between 0.4-0.5 percent. Globally, the S&P 500 and Nasdaq eked out record finishes on Thursday, while the Dow also posted a modest gain after data showed the number of Americans filing new claims for jobless benefits fell to the lowest since March 2020. The Dow Jones Industrial Average rose 0.37 percent, the S&P 500 gained 0.28 percent, and the Nasdaq Composite added 0.14 percent. Read more

Sensex leaps 546 pts,but investors poorer by Rs 50,000 cr.

Sensex leaps 546 pts,but investors poorer by Rs 50,000 cr.

Wednesday, August 4, 2021

Indian benchmark indices continued to scale new record highs today(4th August 2021) as in-line earnings and positive global cues lifted the morale. Bank and financial services stocks were in demand while others saw selling. Broader market indices ended in the red after traders booked profits. However, the volatility indicator cooled off. The return of FIIs also supported the market. The 30-share pack Sensex climbed 546.41 points or 1.02 percent to close at 54,369.77. Its broader peer NSE Nifty advanced 128.05 points or 0.79 percent to 16,258.80. Both indices closed at record high levels. However, overall investor wealth came down by Rs 49,576 crore as the total market cap of BSE-listed companies stood at 239.55 lakh crore. Read more

These stocks show positive momentum

These stocks show positive momentum

Monday, June 21, 2021

Taking cues from global markets, the Indian benchmark indices have declined over 2 percent from recent peaks while the Nifty Bank index has tumbled over 5.50 percent from its peak. Today(21st June 2021), the Indian benchmark indices clawed their way out of the early lows but were still trading half a percent down. The weakness, however, can be seen as an opportunity by investors as major medium-term supports are not broken, technical charts suggest. Here are some stocks showing positive momentum. Read more

M&M stock jumps 10% as investors react to positive Q3 results

M&M stock jumps 10% as investors react to positive Q3 results

Monday, February 8, 2021

Shares of Mahindra & Mahindra (M&M) rallied 10 per cent to Rs 952 on the BSE in Monday's intra-day trade after the firm reported a healthy operational performance in the October-December quarter. Revenue of the firm stood at Rs 14,057 crore, up 16% from the same period last year. The company had an exceptional loss of Rs 1,213.98 crore for the December quarter, representing impairment provisions for certain long-term assets and other exposures. The profit before exceptional loss stood at Rs 1,745 crore for the quarter. The increase in operating margins was driven by cost optimisation and operating leverage. The company sold 97,420 tractors in the domestic market in Q3 FY21, registering a 20 per cent growth over the corresponding period. Global research firm Goldman Sachs has maintained a buy rating on the stock with a target of Rs 1,029 per share.

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

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

Covid-19 vaccine development moving positively, says Biotech CEO

Covid-19 vaccine development moving positively, says Biotech CEO

Tuesday, June 2, 2020

The development of a vaccine for Covid-19 is moving in a positive direction and the next one month will be very crucial, said Krishna Mohan Ella, the chief executive officer at Bharat Biotech. The company has formed a collaborative framework with the University of Wisconsin, Indian Council of Medical Research (ICMR), and the Thomas Jefferson University of Philadelphia to develop a vaccine for Covid-19. Speaking to IANS, he said, "The vaccine development is moving in a positive direction. The next month is very crucial. I am a scientist and I believe in science."He expressed satisfaction on the progress of the research connected with the vaccine development so far, but insisted that "in science, things can change".

Tag: positive

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