Weak global cues, sell-off in RIL, IT drag indices; Sensex tanks 1,066 pts

All that happened in the markets today.

2:03 PM

Reliance deals accounted for 40% of all PE-VC investments in Jan-Sep 2020

Investments by private equity (PE) and venture capital (VC) firms in Indian companies between January and September 2020 were down 21 per cent in value terms when compared with the same period last year – at $28.9 billion in 2020, against $36.4 billion in 2019. And, the $11.7 billion of PE investments in Jio Platforms and Reliance Retail alone accounted for 40 per cent of all PE-VC investments during this period, show IVCA-EY data. READ MORE

2:02 PM

HCL Tech declines over 4%

1:54 PM

UPDATE :: Nifty slips below 11,800

1:46 PM

NEWS ALERT :: India's fiscal position very weak, says Moody's

>> Says recent Rs46,675 cr (0.2% of GDP) stimulus will provide limited support to growth.

>> It acknowledges fiscal prudence but takes note of limited budgetary firepower to support economy, contracting sharply.

>> Move is credit negative.

1:39 PM

Nifty IT index drops 3%

1:38 PM

MARKET CHECK

1:36 PM

Rane Brake advances 12% as board approves buyback at Rs 825 via open market

Shares of Rane Brake Linings moved higher by 12 per cent to Rs 715 on the BSE in the intra-day trade on Thursday after the company's board approved buyback of shares at Rs 825 per share via open market. In the past three days, the stock of auto ancillary company has rallied 23 per cent after the company announced the share buyback plan. READ MORE 

1:28 PM

European markets open with sharp downtick

1:19 PM

Apollo Hospitals gears up to administer 1 million Covid-19 vaccines daily

Apollo Hospitals has made preparations to administer 1 million Covid-19 vaccines daily and 300 million every year. The group will leverage its robust pan India web of 19 medicine supply hubs with cold chain facilities and use it’s 71 hospitals, 400 plus clinics, said the Group's Executive Vice-Chairperson Shobana Kamineni. READ MORE

1:10 PM

Market at day's low

>> S&P BSE Sensex is at 40,333.80 level, down 460.94 points or 1.13%

>> Nifty50 index is at 11,855 level, down 116.05 points or 0.97%

1:06 PM

These Tata, Birla, Ambani group stocks can make you rich. Check key levels

Reliance Industries Ltd (RELIANCE): Till this counter trades above Rs 2,000, the momentum can take it towards Rs 3,000. That said, there can be intermittent corrections, which can be used to accumulate the scrip. The consolidation breakout / 'Flag Pattern' breakout has affirmed an upside that can trigger a strong recovery in any corrective move, as per the weekly chart. The Relative Strength Index (RSI) has seen the strength in the overbought condition, which facilitates in building a strong bullish sentiment from a medium-term perspective READ MORE

1:01 PM

NEWS ALERT :: Rane Brake Lining board approves buyback

>> The Board has approved buyback of the company's fully paid-up equity shares of Rs.10/- each, from the open market through stock exchange mechanism, for a maximum price of Rs. 825/- per equity share upto an aggregate amount not exceeding Rs. 22 Crores excluding transaction costs and applicable taxes. 

12:59 PM

Auto shares trade firm in a weak market; Hero MotoCorp hits 52-week high

Hero MotoCorp, Ashok Leyland, Bajaj Auto, TVS Motor Company, Eicher Motors, Balkrishna Industries and Cummins India from the auto index were up in the range of 1 per cent to 4 per cent on the BSE. At 12:14 pm, the S&P BSE Auto index was up 0.5 per cent, as compared to 0.69 per cent decline in the S&P BSE Sensex. READ MORE

12:48 PM

IT stks factor in most positives; pay hike, promotion surprising: Analysts

The announcement of a salary hike and promotions across the-board by Infosys on Wednesday and earlier by Tata Consultancy Services (TCS) have come in as a surprise for analysts. While announcing its financial performance for the September 2020 quarter of the current fiscal (Q2FY21), Infosys said it will roll out salary increases and promotions across all levels, effective January 1. The company also said it will give 100 per cent variable pay along with a special incentive for Q2. READ MORE

12:38 PM

Tata Steel: Rising demand, steel prices and integrated ops bode well

Tata Steel’s provisional volume numbers for the September 2020 quarter (Q2) impressed the Street, and rising demand and steel prices also point towards an improving business outlook. Being an integrated steel producer, the company remains largely insulated from rising prices of key raw material such as iron ore. READ MORE