Sensex ends choppy trade 77 pts higher; Adani Group cos sink up to 9%

In the broader markets, the BSE MidCap index ended the day in the red, down 0.7 per cent, amid steep losses in Adani Group stocks and BHEL

3:43 PM

Sensex Heatmap

Top gainers: RIL, Bajaj Finance, Power Grid

Top losers: Kotak Bank, HDFC, NTPC

3:35 PM

CLOSING BELL

The frontline Sensex index fluctuated 655 points before settling 77 points, or 0.15 per cent, higher from previous close at 52,551.5 levels. The Nifty50 index, meanwhile, settled at 15,812 levels, up 13 points or 0.08 per cent. India VIX index rose 4 per cent on the NSE today, suggesting high volatility in the markets.

3:34 PM

Rupee Closing

Rupee closes at 73.27 per US dollar vs Friday's close of 73.07/$

3:32 PM

Navoday Enterprises' initial public offering to open on 14 June

Navoday Enterprises Ltd. will launch Rs. 460.80 Lakhs SME IPO on 14 June 2021. The IPO is proposed to be listed on BSE's SME platform. The company will make a fresh issue of Equity Shares.

 

Initial Public Offer is of 23,04,000 Equity Shares of the face value of Rs. 10 each of the Company for cash at Rs. 20 per Equity Share (including a share premium of Rs. 10 per Equity Share) aggregating up to Rs. 460.80 lakhs. READ MORE

3:21 PM

Adani Enterprises recovers post clarification

3:07 PM

NEWS ALERT :: Demat A/c of reported FPIs are not frozen, says Adani Group

3:04 PM

Recovery from intra-day lows in today's trade

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
Deepak Fertiliz.	337.00	456.40	442.50	31.31
Alok Industries	25.00	31.40	30.40	21.60
Future Consumer	8.51	10.55	10.11	18.80
Adani Enterp.	1201.10	1444.60	1424.40	18.59

2:59 PM

How banks were able to prove doomsday predictions wrong in a pandemic year

When the Coronavirus (Covid-19) pandemic broke out in March last year and a nationwide lockdown was imposed to restrict its spread, there were concerns all round over its impact on the banking sector. Bad loans were stabilising after a relentless rise for several years and there was a ray of hope for the banking sector after a long time with non-performing assets having crossed the hump. READ MORE

2:47 PM

Greaves Cotton rallies 6% on heavy volumes; stock nears 52-week high

Greaves Cotton shares rallied 6 per cent to Rs 152.40 on the BSE in intra-day trade on Monday on the back of heavy volumes after the Central government increased the subsidy on electric two-wheelers by 50 per cent, under the second phase of the FAME India scheme, making them more affordable.

 

In the past one week, the stock of Greaves Cotton has soared 18 per cent, as compared to 0.41 per cent rise in the S&P BSE Sensex. It was trading close to its 52-week high price of Rs 158, touched on March 9, 2021. The trading volumes on the counter more than doubled with a combined 8.3 million shares changing hands on the NSE and BSE. READ MORE

2:38 PM

Mid-cap information technology players may have hit valuation ceiling

Mid-cap information technology (mid-cap IT) companies have outperformed their large-cap peers over the past year, with returns of 138 per cent as compared to the IT big boys which enriched investor wealth by 77 per cent. The rerating in mid-cap plays has been sharper over the last six months with the difference stretching to over 121 percentage points. READ MORE

2:29 PM

European markets check

(Source: Reuters)

2:22 PM

Amara Raja Batteries to diversify into emerging energy opportunities

Amara Raja Batteries Ltd (ARBL) on Monday announced energy and mobility as its strategic focus going forward to capitalise on emerging opportunities. It announced expansion of lead acid batteries business and establishment of a new energy strategic business unit encompassing lithium cell and battery pack, EV chargers, energy storage systems, advanced home energy solutions and related products and services. READ MORE

2:11 PM

Stocks that hit 52-week high on BSE today in an otherwise volatile market

Company	PRICE(rs)	52 WK HIGH	CHG(%)
Aarti Industries	1841.75	1887.65	1.45
Alkem Lab	3240.10	3257.75	1.39
Bajaj Finance	6197.50	6250.20	1.29
Caplin Point Lab	678.55	691.75	2.22
CARE Ratings	638.95	651.85	6.30

2:03 PM

Godawari Power trades higher for seventh straight day; zooms 51% in 3 days

Shares of Godawari Power & Ispat hit a new high of Rs 1,489 after rallying 18 per cent on the BSE in intra-day trade on Monday, after the company’s shareholders approved the proposal for divestment of its shareholding in Godawari Green Energy (GGEL), a material subsidiary of the company. The stock was trading higher for the seventh straight day and has zoomed 51 per cent in the past three trading days. READ MORE

1:56 PM

Sona Comstar IPO opens today: Should you subscribe to the issue?

On the financial front, over FY18-21, Sona Comstar's revenue/Ebitda/Adj. PAT grew at a robust CAGR of 36 per cent/37 per cent/39 per cent given its thrust in the global EV market while earnings before interest, tax, depreciation, and ammortisation (Ebitda) margins expanded 76bps to 28.2 per cent. "Its margins are much superior vis-a-vis peers, given its critical component products. The net D/E stood at 0.3x as of FY21, which post repayment, would reduce to zero. Return ratios are healthy with FY21 RoE/RoCE at 16.5 per cent/15.3 per cent," Motilal Oswal said in an IPO note. READ MORE