MARKET WRAP: Financials lift indices; Sensex up 622 pts; Nifty above 9,050

All that happened in the markets today

2:24 PM

NEWS ALERT :: Cabinet approves special liquidity scheme for HFCs, NBFCs, reports CNBC TV18

Alert: The policy was announced by FM Nirmala Sitharaman under the Economic Package.

2:23 PM

MARKET CHECK | L&T surges over 4%

2:16 PM

MARKET ALERT :: Indices extend gains

2:09 PM

Rupee Closing

Rupee ends weaker at 75.79 per US dollar vs Tuesday's close of 75.63/$

2:05 PM

NEWS ALERT :: Cabinet approves commercial Coal Mining Policy, reports CNBC TV18

>> The policy was announced by FM Nirmala Sitharaman under the Economic Package.

2:00 PM

MARKET CHECK | Top 5 losers on the BSE at this hour

1:54 PM

Inter-scheme transfers in mutual funds elevated amid debt crisis

Mutual fund houses bought and sold instruments between their own schemes at a higher-than-usual rate as the industry grappled with a crisis in its fixed income segment. There were 680 such transactions worth Rs 22,452.7 crore in March. This rose to 829 (worth Rs 21,814.9 crore) in April. READ MORE

1:45 PM

Vedanta, United Spirits: Why are firms opting to delist in the current market?

UK-based Diageo and home-grown Adani Group, according to reports, have also initiated talks with investment bankers and consultants to initiate delisting from bourses. In case of United Spirits, the investment bankers will give the proposal, listing out benefits, timing, and pricing of the offer to Diageo management. “If the global management approves, the proposal will be sent to the board. Only after board approval will it will go to the India board of United Spirits for approval," reports suggested. At the end of March 2020, around 43.24 per cent stake was held by public shareholders. READ MORE

1:40 PM

NEWS ALERT | Ola to lay off nearly 1,400 employees, nearly 25% of its total workforce: CNBC TV18

1:32 PM

Vodafone Idea surges 9%, hits 2-month high; stock zooms 51% in a month

The telecom services provider's stock was trading at its highest level since March 18, 2020. It has rallied 51 per cent in the past one month from the level of Rs 3.92, on the back of delivery-based buying. In comparison, the S&P BSE Sensex was down 3.5 per cent during the same period. READ MORE  

1:27 PM

MARKET UPDATE | India VIX slips nearly 7% to 36.7 levels

1:22 PM

BoB seeks to recover $250 mn loans from NMC founder BR Shetty: Report

Bank of Baroda is seeking to recover loans worth more than $250 million from NMC founder BR Shetty and his companies, as a court in Bengaluru barred him and his wife from selling or transferring some properties while it hears the case, a court document showed.

 

The 16 properties in several Indian cities including Bengaluru were among guarantees put up by Shetty and his wife against the Rs 19.13 billion ($253 million) in loans, according to a May 16 court order seen by Reuters. The court in Bengalaru set the next hearing in the case for June 8. READ MORE

1:15 PM

European stocks trade largely lower in early deals

1:07 PM

Reliance Industries-RE shares rally 34% from opening levels on NSE

Shares of Reliance Industries – Rights Entitlement (RIL-REL) moved higher by up to 34 per cent to Rs 211.60 level on the National Stock Exchange (NSE) on Wednesday on the first day of its trading. The stock opened at Rs 158.05 and hit an intra-day low of Rs 152 on the exchange so far.
 

At 12:25 pm, RIL-REL was trading 29 per cent higher at Rs 195.05 with around 22.82 million equity shares changing hands on the NSE, the exchange data shows. READ MORE

12:56 PM

Result today | Bajaj Auto Q4 preview: Over 10% revenue dip seen on volume de-growth

Two-wheeler major Bajaj Auto is set to announce its fourth-quarter results on Wednesday for the quarter ending March 2020 (Q4FY20). According to analysts, Bajaj Auto's revenues may see a decline of over 10 per cent on a year-on-year (YoY) basis, led by 17 per cent fall in volumes to 9.91 lakh units. However, improvement in realisations and average selling price (ASPs) should provide some relief to the bottom-line.

 

Bajaj Auto clocked a net profit of Rs 1,067.6 crore and revenue of Rs 7,420.5 crore in Q4FY19. At the bourses, Bajaj Auto tumbled 35.8 per cent in Q4FY20 as compared to Nifty's 29.4 per cent fall in the same period. Meanwhile, Nifty Auto index declined 42.3 per cent. READ MORE