Vinod Nair, Head of Research, Geojit Financial Services
Market moved in a tepid manner after recording the all time high, investors turned jittery ahead of RBI minutes. Market is gradually pricing the positive aura raised from the political front, going forward valuation and transition of reforms into earnings will be the key catalyst to fuel the market sentiment.
3:55 PM
RCom surges 45% after NCLT adjourns hearing of insolvency petition
Reliance Communications (RCom) rose as much as 45% in intra-day trade today after the National Company Law Tribunal (NCLT) adjourned the hearing of insolvency petitions filed against Reliance Communicationsto early next month after a group of the telecom operator's lenders sought time to consider converting the company's loans into equity. READ FULL REPORT
3:47 PM
Market breadth positive
The breadth, indicating the overall health of the market, remained strong. On the BSE, 1,590 shares rose and 1,120 shares fell. A total of 177 shares were unchanged.
Shares of Religare Enterprises hit its upper circuit of 5% at Rs 73.15, while those of Edelweiss Financial Services rose 2.54% to Rs 298.65 in intra-day trade after Edelweiss Financial Services on Wednesday said its wealth management arm will acquire Religare's securities business for an undisclosed sum.
"Edelweiss and Religare today announced the acquisition by Edelweiss Wealth Management of Religare's securities business, which includes securities and commodities broking, and depository participant services," the company said in a regulatory filing. READ MORE
2:29 PM
6 stocks that are trading 2,000 times above their face value
MRF - the most expensive stock in terms of share price in India - is currently trading nearly 6,915 times its face value of Rs 10 per share at Rs 48,781 levels at the bourses.
Besides MRF, five stocks – Eicher Motors, Tata Consultancy Services (TCS), Page Industries, Britannia Industries and Honeywell Automation - are trading at over 2,000 times their respective face values. CLICK HERE FOR DETAILS
2:10 PM
Sensex heatmap in afternoon trade
Source: BSE
1:41 PM
Archies zooms 57% in two weeks
Archies is locked in upper circuit of 10% at Rs 50.25, also its 52-week high on the BSE, extending its over 40% surge of the past nine days after promoter Anil Moolchandani hiked stakes in the company through open market.
“Anil Moolchandani, Chairman and Managing Director of the Archies purchased 20,000 shares of the company on 08/12/2017 at the consideration value of Rs 6.87 lakh and further purchased 20,000 shares of the company on 11/12/2017 at the consideration value of Rs 6.70 lakh from the open market,” Archies said in a regulatory filing on December 12, 2017. READ MORE
1:24 PM
How Big B and family's $250,000 investment rose to $17.5 mn
Amitabh Bachchan, the Kaun Banega Crorepati host, undoubtedly knows how to build his wealth. As bitcoin mania reaches a fever pitch, the value of a stock investment by the Bachchan family has risen from $250,000 to $17.5 million in two and a half years. The Bachchans, one of Hindi cinema’s biggest names, had made their first significant equity investment in an overseas company through the Reserve Bank of India (RBI)’s Liberalised Remittance Scheme (LRS) in 2015. READ FULL REPORT
The Natco Pharma stock has been among the few outperformers from the pharma pack and given the recent news flow and the company’s growth prospects, there could be more gains for investors. While Natco launched the Hepatitis-B drug in India on Tuesday, it approved the closure of its qualified institutional placement (QIP) document over the last weekend. READ MORE
12:34 PM
Tata Steel falls 2% after board approves fund raising through rights issue
Tata Steel was down 2% to Rs 693 on the BSE in intra-day trade on equity dilution concerns as the company's board approved to raise up to Rs 12,800 crore through rights issue to finance organic and inorganic growth plans.
"The Board approved issuance of equity and equity linked instruments including ordinary shares of the company by way of a rights issue to existing shareholders on record date for an amount not exceeding Rs 12,800 crore," Tata Steel said in statement.
The company said the board also approved a proposal to expand the capacity of Kalinganagar plant by 5 million tonne per annum (MTPA) to 8 MTPA with a total investment of Rs 23,500 crore. READ MORE
The benchmark indices ended lower after hitting fresh highs at open on Wednesday as Asian shares fell taking their cues from Wall Street with investor enthusiasm toward US tax changes ebbing as the long-awaited reform bill wound its way through Congress, while higher US Treasury yields underpinned the dollar.
Prime Minister Narendra Modi’s electoral victories in key states continued to lend support to the markets, but focus has now shifted to Budget and macros.
Meanwhile, some caution set in ahead of the release of the minutes from the Reserve Bank of India’s policy meeting earlier this month in which the policy rate was kept unchanged. The minutes are scheduled to be released after market hours.
 "Nifty ends below 10,450 after hitting record high, snaps four-day rally")
