Indices snap 4-day losing run; Sensex up 166 pts; small-caps outperform

Sectorally, the Nifty Pharma index was the top gainer, up 0.6 per cent, followed by the Nifty Bank index, up 0.4 per cent

11:21 AM

5 reasons why India needs to up record forex pile

The rise in India’s foreign exchange reserves to above $600 billion may not be enough to beat the challenges looming for Asia’s third-largest economy, according to some central bankers and economists. The pile touched a record $608 billion last month, thanks mainly to the Reserve Bank of India soaking up dollars flowing in as foreign direct investments, as well as into the nation’s booming stock market. READ MORE

11:05 AM

Route Mobile surges 10% on acquisition of email technology biz from Sarv

The upfront purchase consideration of Rs 26.25 crore shall be paid upon closing of the acquisition, in cash. A deferred consideration of Rs 4 crore shall be paid, on the first anniversary of the closing of the acquisition, in cash, the company said. READ MORE

10:54 AM

Top losers on BSE at this hour

Company	PRICE(rs)	CHG(%)
Adani Total Gas	920.40	-5.00
Adani Transmissi	959.40	-5.00
Adani Green	1008.70	-5.00
JSW Energy	168.45	-3.55
Vodafone Idea	8.82	-2.76

10:45 AM

Chris Wood launches India-dedicated equity portfolio with 16 stocks

After hiking stake earlier this year to Indian equities to 14 percentage points (ppt) in his Asia ex-Japan long-only portfolio, Christopher Wood, global head of equity strategy at Jefferies has launched India long-only equity portfolio with 16 stocks, which include marquee stocks such as ICICI Bank, HDFC, Bajaj Finance, Reliance Industries (RIL), ONGC, Maruti Suzuki India, Tata Steel and Jubilant FoodWorks. READ MORE

10:35 AM

State-run NTPC Renewable Energy Ltd IPO to hit markets in 2022-23

State-run NTPC has plans to list its arm NTPC Renewable Energy Ltd in 2022-23, to raise funds for achieving its ambitious target of 60 GW installed renewable energy capacity by 2032, which entails a total investment of Rs 2.5 lakh crore, a source said. The source, however, did not disclose the quantum of money to be raised through the initial public offering (IPO) of the NTPC Renewable Energy but said that the equity component of the firm would be around Rs 50,000 crore and rest of the requirement would be met through long-term loans, debentures, bonds and other such modes. READ MORE

10:25 AM

Nucleus Software rallies 30% in 4 days; stock hits all-time high

Shares of Nucleus Software Exports hit an all-time high of Rs 765.35 after rallying 9 per cent on the BSE in intra-day deal on Friday in an otherwise range-bound market on the back of heavy volumes. The stock surpassed its previous high of Rs 765.35, touched on October 7, 2020. The trading volumes on the counter jumped nearly three-fold with a combined 933,000 shares changing hands on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.07 per cent at 52,284 points, at 10:04 am. READ MORE

 

10:16 AM

BUZZING STOCK:: Sona BLW Precision zooms over 5%

10:09 AM

Aurobindo Pharma to transfer biz in Unit-4 to arm Eugia Pharma; stock up 4%

Shares of Aurobindo Pharma gained 4 per cent to Rs 1,003.75 on the BSE in the intra-day deal on Friday after the drug firm announced transfer of business undertaking comprised in Unit·4, on a going concern basis, to Eugia Pharma Specialities, a wholly owned subsidiary of the company. The transfer of the business undertaking will be done for a lumpsum consideration of Rs 876 crore. READ MORE

9:59 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
Vodafone Idea	8.78	-3.20	26556543
Suzlon Energy	8.87	4.97	6761777
B H E L	65.20	0.46	3714996
Punjab Natl.Bank	42.35	0.00	903992
I O B	27.50	0.55	771276

9:51 AM

MARKET STRATEGY :: Quality blue-chips will bounce back smartly in next leg of rally

Sustained FII selling and high valuations are the major reasons for the weakness in the market now. It is normal & rationale for FIIs to sell & book profits at the present elevated valuations. HNIs also might be tempted to partially book profits. Since DIIs are getting big inflows they might continue to buy, but the buying is happening mainly in high-quality large-caps with good earnings visibility.

Even in the event of a sharp correction in the market, these blue chips will decline only less- proportionately and will bounce back smartly in the next leg of the rally. So, there is safety in large-caps and high risk in many small-caps which are being pushed up by newbie retail investors. A lesson from history is that fundamentally unsound small-caps, the so-called 'cats & dogs', run up too much before a big correction.

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

9:43 AM

Sector Watch :: Pharma stocks hold gains in a volatile market

9:38 AM

BUZZING :: Happiest Minds extends Thursday's rally, stock at fresh record high

9:37 AM

Sector Watch :: Nifty Bank index trades flat with positive bias

9:36 AM

Sector Watch :: Large-cap IT stocks drag index nearly 1% down

9:35 AM

MARKET CHECK :: Sensex back in the red