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Wednesday, December 25, 2024 | 06:43 AM ISTEN Hindi

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MARKET WRAP: Indices gain for 2nd day, Sensex rises 350 pts; HUL surges 5%

All that happened in markets today

Image SI Reporter New Delhi
Ongoing bull market phase 'longest and slowest', says Morgan Stanley

11:43 AM

BUZZING STOCK | Bandhan Bank up nearly 4% ahead of MSCI India Index Review


11:41 AM

Govt to scrap registration fees for buying electric vehicles: Javadekar

The government is promoting electric vehicles (EV) by proposing to drop registration fees and using the Union Budget to given an additional income tax deduction of Rs 1.5 lakh on interest paid on loans taken to purchase such transport, said Prakash Javadekar, Minister of Heavy Industries and Public Enterprises, has said. READ MORE
charging hub, SmartE, electric vehicle

11:40 AM

NEWS ALERT | If corona virus impacts economy; IT can't remain isolated: TechM's CP Gurnani to CNBC-TV18

11:36 AM

MARKET CHECK

11:25 AM

Avenue Supermarts continues winning run, up 4% today

11:17 AM

SPARC slips 10% as USFDA rejects cancer drug application

Shares of Sun Pharma Advanced Research Company (SPARC) slipped 10 per cent to Rs 172 on the BSE on Wednesday in an otherwise strong market after the US health regulator rejected the cancer drug application. SPARC on Tuesday said the company has received a Complete Response Letter (CRL) from the United States Food & Drug Administration (USFDA) for the new drug application (NDA) for Taclantis (Paclitaxel Injection Concentrate for Suspension). READ MORE
The company already enjoys a 67-68 per cent share of the respiratory drugs market in India and has potential for a 14-15 per cent growth

11:10 AM

Contribution to S&P BSE Sensex's gain today

11:07 AM

NEWS ALERT | Have sufficient cash on balance sheet to continue business: BSE's Ashishkumar Chauhan on CNBC TV18

-- Operating income has gone up QoQ

-- Have given back close to Rs 1,100 cr to shareholders in one and half years

-- Have 20% stake in CDSL currently
11:06 AM

BROKERAGE RADAR | HDFC Securities on Oil India

We expect the oil prices to remain muted owing to the robust supply from US Shale and weakening global macros, despite production cut from OPEC and non-OPEC countries. Thus, we do not foresee subsidy sharing in FY21/22E as well. Upstream companies have remained out of flavor owing to stake sale from GoI to achieve its disinvestment target and it remains a key overhang on the stock (in the last 2 years, GoI’s shareholding shrank from 66.7% to 59.57%). OIL will generate OCF yield of 25.7/47.1% and divided yield of 7.7/9.1% over FY21/22E. Hence, we believe the current valuations are contextually low. Our TP is Rs 209/sh (6x Dec-21E standalone + Rs 81 from investments) vs the consensus TP of Rs 216.
11:05 AM

BROKERAGE RADAR | ICICI Securities on JK Cement

While at absolute levels, the company’s debt looks to be elevated, improving cash flows are expected to keep leverage levels under check. Rising cash flows combined with healthy profitability & return ratios are key factors in favour of the company. We continue to remain positive on JK Cement and maintain our BUY rating on the stock. We upgrade our target price on the company to Rs 1,650, factoring in the growth that the company would witness from the new capacities (~9.5x FY21E EV/EBITDA).
10:59 AM

MARKET CHECK:: Sensex off day's high; index still up over 350 pts

10:58 AM

BUZZING STOCK:: Aster DM Healthcare surges 7%

10:50 AM

HEG plunges 14% on poor Q3 earnings, Co posts net loss of Rs 1.23 crore

Shares of graphite electrode manufacturer HEG slipped nearly 14 per cent on Wednesday after the company reported poor set of financial numbers for the quarter ended December 31, 2019 (Q3FY20). The company reported consolidated loss of Rs 1.23 crore for the quarter under review against Rs 444.60 crore profit registered in the year-ago period. Total revenue declined 78 per cent year-on-year (YoY) to Rs 420.97 crore. READ MORE
Markets Loss

10:43 AM

Hindustan Unilever surges 5%, hits new high; m-cap nears Rs 5 trillion

Shares of the fast moving consumer goods (FMCG) giant Hindustan Unilever (HUL) rallied 5 per cent and hit a new high of Rs 2,259 on the BSE on Wednesday. The stock surpassed its previous high of Rs 2,204 recorded on February 4, 2020. With today’s gain, HUL has outperformed the market by surging 11 per cent thus far in February. In comparison, the S&P BSE Sensex was up 2 per cent, while the sector index S&P BSE FMCG slipped 0.06 per cent during the same period. READ MORE
Hindustan Unilever, HUL

10:33 AM

IRCTC up 3% ahead of Q3 results

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First Published: Feb 12 2020 | 7:27 AM IST