MARKET WRAP: Sensex slips 149 pts in volatile trade; mid, small-caps shine

All that happened in the markets today

11:55 AM

Asian Paints slips over 1.5% ahead of Q2 result; here's what to expect

Shares of Asian Paints slipped as much as 1.53 per cent to Rs 2,082 apiece in the morning trade on the BSE ahead of its September quarter result due later in the day. At 10:31 AM, the stock was trading nearly a per cent lower at Rs 2,095 against Tuesday's close of Rs 2,114.35. In comparison, the S&P BSE Sensex was trading 190 points, or 0.47 per cent lower at 40,517 levels. READ MORE 

11:41 AM

Bajaj Fin: Worst case scenarios play out as stress builds across portfolios

Bajaj Finance’s results in the September quarter (Q2), the third consecutive quarter of weak performance, suggest that recovery may be pushed to FY22. Despite the Street’s muted expectation, the 36 per cent net profit decline (worst since FY15) marred by elevated provisioning was a huge let-down. READ MORE

11:32 AM

RIL shareholding | FPIs up stake to 25.2% stake in September quarter from 24.72% in June

11:26 AM

Strong deal pipeline to sustain L&T Infotech's growth trajectory

The L&T Infotech stock gained over 4 per cent on Wednesday after the company posted better than expected revenue performance and record margins in the September quarter. India’s sixth largest software services firm posted revenue growth of 2.3 per cent in constant currency terms, much ahead of the street’s 1-1.5 per cent expectation. READ MORE

 

11:15 AM

HDFC Bank m-cap tripled in 6 yrs. But this rare bear on the stock still made money

After a 63% rebound from its March low, HDFC Bank’s stock is too expensive given the risks related to management change and asset quality, as Indian lenders face “one of the most challenging phases” amid Covid-19 and the nation’s prolonged credit crisis, Agarwal, an analyst at Ambit Capital Pvt, said in an interview. He has had a sell rating on HDFC Bank since 2014 save a brief upgrade to buy earlier this year, Bloomberg-compiled data show. READ MORE

11:14 AM

Top losers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
AUROBINDO PHARMA	761.35	-5.46
SYNGENE INTL.	524.00	-5.12
KPIT TECHNOLOGI.	106.10	-4.97
THYROCARE TECH.	1053.85	-3.93
DELTA CORP	108.35	-3.77

11:05 AM

Aurobindo Pharma declines 6% on USFDA warning letter for Dayton facility

"The AuroLife Pharma LLC, a wholly owned stepdown subsidiary of the Company, has received a warning letter from the US Food and Drug Administration (USFDA) for its oral solid manufacturing facility situated at Dayton, New Jersey," Aurobindo Pharma said in exchange filing. READ MORE

10:51 AM

Upasana Chachra :: Inflation is a key risk to India's V-shaped economic recovery

Limited fiscal space has meant that monetary policy has done the heavy lifting. Indeed, compared to key developed market and emerging market economies, India’s discretionary fiscal stimulus is relatively low. But the government has managed to respond with targeted fiscal spending focusing on the vulnerable and the rural economy, coupled with liquidity enhancing measures and structural reforms such as new farm and labour laws. READ MORE

10:41 AM

Dr Reddy's slips 4% on report co shuts all key plants globally

>> According to a report by ET Now, there has been a mega data breach at Dr Reddy's, resulting in the shutting down of key unit.

>> Data breach affected units at US, UK, Russia, India and Brazil

>> Incident happened between 4-5 pm US time

>> Management yet to respond to queries.

10:32 AM

Hemisphere Properties shares locked in 5% lower circuit on debut

HPIL was formed as part of the disinvestment exercise carried out by the Government of India in respect of its holdings in the erstwhile VSNL (currently known as Tata Communications). In 2002, the Government of India conducted a disinvestment exercise in respect of 25 per cent of its shareholding in the equity share capital of VSNL, wherein in terms of the bid for the disinvestment required a separate value to be ascribed to lands to be retained with VSNL and to exclude the value of certain surplus lands, held by VSNL. READ MORE

10:22 AM

Result Today :: Bajaj Auto's Q2 PAT may dip 10- 26% YoY dip, margin expansion likely

According to the company's monthly auto sales data, Bajaj Auto sold 10.53 lakh units during Q2FY21, down 10.2 per cent on year-on-year (YoY) basis as compared to 11.73 lakh units sold in Q2FY20. It comprises the sale of 5.73 lakh units and 4.79 lakh units in the domestic market and export, respectively. On a quarter-on-quarter (QoQ) basis, however, Bajaj Auto has reported 137.7 per cent growth in volumes from 4.43 lakh in Q1FY21. READ MORE

10:13 AM

Sagar Cements surges 8%, hits 52-week high on robust Q2 results

Revenue from operations grew 23 per cent year on year (YoY) at Rs 326 crore against Rs 265 crore in the corresponding quarter of previous fiscal. The revenue growth was led by 20.8 per cent YoY increase in realisations and 1.7 per cent YoY growth in volumes. Ebitda (earnings before interest, taxes, depreciation, and amortization) margins doubled to 32.1 per cent in Q2FY21 from 16 per cent in Q2FY20 on lower production costs. READ MORE

10:05 AM

Rupee Opening

Rupee opens weaker at 73.76 per US dollar vs Wednesday's close of 73.58/$

10:02 AM

NEW LISTING :: Hemisphere Properties hits 5% lower circuit after listing at Rs 106/sh on BSE

9:51 AM

NEWS ALERT :: Granules receives nod from US FDA for Potassium Chloride Extended Release Tablets

Granules announced that it has received marketing approval from the US FDA for Potassium Chloride Extended Release Tablets USP, 10 mEq (750 mg) and 20 mEq (1500 mg) for the treatment of patients with hypokalemia. Granules’ tablet product is bioequivalent to the reference listed drug (RLD), K-Dur.