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

11:26 AM

NEWS ALERT

11:26 AM

Analysts turn cautious on Adani Group companies, suggest cutting exposure

Concerns had shot up on shares of Adani Group stocks after a report by Bloomberg last week showed signs of concentrated holdings in group share companies by select foreign portfolio investors (FPIs). Matters got worse when National Securities Depositories Limited (NSDL) froze the account of three of these FPIs, holding shares worth Rs 43,500 crore in four of the six group companies, turning the Street cautious on these stocks. READ MORE

11:18 AM

Reliance Power, Reliance Infra: ADAG stocks on a roll. What's driving them?

Shares of Anil Dhirubhai Ambani Group (ADAG) companies have massively outperformed the market thus far in fiscal 2021-22 (FY22). Reliance Power, for instance, has surged a massive 192 per cent thus far in FY22 compared to 6 per cent rise in the S&P BSE Sensex during this period. The S&P BSE Mid-cap and the S&P BSE Small-cap indices have surged around 14 per cent and 22 per cent thus far in FY22, data show. READ MORE

11:07 AM

BHEL slips 18% on lower-than-expected March quarter results

Shares of Bharat Heavy Electricals Limited (BHEL) slipped 18 per cent to Rs 62.55 on the BSE in intra-day trade on Monday after the company reported a lower-than-expected set of numbers for the quarter ended March 2021 (Q4FY21). In Q4FY21, BHEL reported a net loss of Rs 1,036 crore as against a loss of Rs 1,532 crore in the year-ago quarter. Revenues grew 42 per cent year-on-year (YoY) at Rs 7,171 crore on a low base, with some impact of execution headwinds and pandemic. READ MORE

10:48 AM

Edelweiss MF turns against riskier debt after India's Covid-19 woes

The level of stress in the economy especially for small- and medium-sized enterprises is still unclear after states locked down to curb the spread of a second virus wave from March, said Dhawal Dalal, who oversees $4.8 billion of debt assets at Edelweiss Mutual Fund. Dalal, who manages one of the best-performing debt funds over the past year, has added only AAA rated corporate notes to his portfolio since March. READ MORE

10:33 AM

Lupin dips 5% on USFDA warning letter for Somerset manufacturing unit

“The Company has received a warning letter from the United States Food and Drug Administration (USFDA) for the Company’s Somerset, New Jersey facility. The USFDA had inspected the Lupin Somerset site from September 10, 2020 to November 5, 2020,” Lupin said in exchange filing. READ MORE

10:33 AM

MARKET UPDATE:: Sensex off day's low, down 200 pts

10:24 AM

Zensar Tech continues to trade lower post block deal

>> Around 3.4 million shares have changed hands so far on the BSE

>> A block  deal involving 2.6 million shares, at Rs 293.6 apiece, occured at 9:16 AM on the BSE

10:14 AM

Sterling and Wilson Solar in focus

>> Company appoints Amit Jain as the Global CEO

>> Jain will take over the global operations of the Company and report to the Board of Directors. 

10:07 AM

Rupee opening

Rupee opens lower at 73.20/$ vs Friday's close of 73.07 against the US dollar

10:01 AM

Top losers on BSE at this hour

Company	PRICE(rs)	CHG(%)
Adani Ports	692.80	-17.41
Adani Enterp.	1361.25	-15.00
B H E L	64.80	-14.96
Alok Industries	26.50	-7.83
Zensar Tech.	288.00	-7.48

9:51 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
Vodafone Idea	9.55	-3.24	9000612
Alok Industries	26.00	-9.57	6604134
Future Consumer	8.90	-11.62	5101340
B H E L	64.80	-14.96	4434327
Zensar Tech.	284.50	-8.61	3188246

9:46 AM

MARKET STRATEGY :: Investors should be selective & cautious in investment

Market signals do not indicate clarity on the direction of the market. While increasing FII buying, selective high-quality buying by DIIs & enthusiastic retail activity are positives for the market, the froth building up in the broader market is an area of concern. Nifty Small-cap index trading at a premium to Nifty reflects the 'irrational exuberance' of retail investors. But exuberance may continue. Investors should be selective & cautious in investment preferring high-quality stocks to small caps.

Views by: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

9:43 AM

JK Cement slips 2%

JK Cement reported higher consolidated profit at Rs 214.3 crore in Q4FY21 against Rs 160.82 crore in Q4FY20, revenue jumped to Rs 2,134.14 crore from Rs 1,545.65 crore YoY.

9:41 AM

Sun TV Network drops 3% despite higher profits in Q4

Sun TV Network reported sharply higher profit at Rs 449.88 crore in Q4FY21 against Rs 250 crore in Q4FY20, revenue increased to Rs 782 crore from Rs 735.16 crore YoY.