MARKETS: Indices end at record closing peaks; Nifty settles above 13,000

All that happened in the markets today

12:15 PM

JP Morgan sees possible $300 billion rebalancing flow from stocks

Rebalancing flows may lead to an exodus of around $300 billion from global stocks by the end of the year, according to JPMorgan Chase & Co. Large multi-asset investors may need to rotate money into bonds from stocks after strong equity performance so far this month, strategists led by Nikolaos Panigirtzoglou wrote in a note Friday. They include balanced mutual funds, like 60/40 portfolios, U.S. defined-benefit pension plans and some big investors like Norges Bank, which manages Norway’s sovereign wealth fund, and the Japanese government pension plan GPIF, the strategists said. READ MORE

12:09 PM

S&P BSE SmallCap index outruns benchmarks

11:57 AM

Equitas, Ujjivan small finance banks: Long-standing demand may soon be met

After two years of multiple representations and listing their small finance bank (SFB) arms, there could be some respite for Equitas and Ujjivan — their SFBs and holding companies. With the Mohanty Committee on Friday (post market hours) recommending that a holding company (holdco) model need not be mandatory for all banks, the two SFB stocks rose sharply in Monday’s trade, up 12-20 per cent. READ MORE

11:46 AM

Dr Lal PathLabs, Metropolis: How healthcare stocks look on charts

Shares of diagnostic and healthcare services firms such as Metropolis Healthcare, Dr Lal PathLabs, and Thyrocare Technologies were trading in the positive territory on Tuesday, a day after the Maharashtra government imposed restrictions on all air and rail passengers arriving from Delhi, Gujarat, Rajasthan, and Goa. Passengers travelling from these states — which have seen a significant surge in cases — will have to obtain a negative RT-PCR test report before starting. READ MORE

11:38 AM

Adani Ports becomes part of DJSI Emerging Markets Index; stock soars 7%

Shares of Adani Ports and Special Economic Zone (APSEZ) jumped 7 per cent to Rs 401.85 on the BSE on Tuesday after the company said it ranked 14th in the transportation and transportation infrastructure sector of Dow Jones Sustainability Emerging Markets Index, 2020. APSEZ is the only company from India to have been included in this sector. READ MORE

11:28 AM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
FUTURE RETAIL	86.90	10.00
VA TECH WABAG	200.65	7.59
SUNTECK REALTY	304.95	6.91
ADANI PORTS	399.75	6.57
HEG	869.35	6.17

11:14 AM

Granules India shares gain 5%, hit record high on heavy volumes

Shares of Granules India hit a record high of Rs 417 after rising 5 per cent on the BSE on Tuesday on the back of heavy volumes. The pharmaceutical company's stock surpassed its previous high of Rs 406.90, touched on September 29, 2020. At 10:44 am, the stock was trading 3 per cent higher at Rs 412 on the BSE, as compared to 0.74 per cent rise in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 2.23 million equity shares changing hands on the NSE and BSE, so far. READ MORE

11:00 AM

Mahindra & Mahindra hits 52-week high on strong business outlook

Shares of Mahindra & Mahindra (M&M) hit a 52-week high of Rs 731, up 4 per cent on the BSE in the early morning trade on Tuesday on the expectation of a strong business outlook. In the past one week, the stock has outperformed the market by gaining 14 per cent, as compared to a one per cent rise in the S&P BSE Sensex. READ MORE

10:49 AM

Negative real rates could drive investors towards high-yield stocks

Real rates in India have slipped into the negative zone with inflation above 7 per cent and yield on the benchmark 10-year government security (g-sec) well below 6 per cent. This could drive many investors towards stocks that offer high-dividend yield, say analysts. “Over the past one year, as interest rates continued to dip and inflation rose, real interest rate has dipped into the negative territory which has improved prospects for high dividend yield stocks. High dividend yield stocks appear attractive as their yields are now comparable to other fixed-income instruments while having the added advantage of ‘inflation hedge’ characteristics of stocks as an asset class,” said Vinod Karki and Siddharth Gupta, analysts at ICICI Securities in a note on Monday. READ MORE

10:35 AM

BROKERAGE VIEW | Prabhudas Lilladher on financial sector

We reckon NBFCs conversion into banks would imply limited scope, stringent norms and lower returns. Unlike previous occasion, permit for industrial houses to opt for banking license and increased cap on promoter stake increase the scope of eligibility. While this would imply significant changes to the Banking Regulation Act, the details of which are awaited by most, licenses are not likely to  come easy especially to the corporate houses. Conversion into a bank will be a call on trade-off between operational flexibility and a gradual liability franchise built which NBFCs have to take. While corporate-led diversified NBFC models (likes of LTFH, PEL, ABCapital, Tata Capital) would be greater beneficiaries of such conversion, core business focused NBFCs would maintain the original format. We maintain positive bias towards quality NBFCs; viz, SBICARD, MUTH, HDFC, CIFC, BAF.

10:24 AM

Bharti Infratel up 28% in 3 days on completion of Indus Tower merger deal

Shares of Bharti Infratel surged 9 per cent to Rs 238 on the BSE on Tuesday, rallying 28 per cent in the past three trading days after the company completed merger with Indus Towers to create a mega tower company (renamed Indus Towers). The stock hit a 52-week high of Rs 295.75 in December 2019. READ MORE 

10:14 AM

Buying jewel in the crown: BPCL a revenue churner, not a drain on finances

Even a week after the EoI deadline ended on November 16, all that North Block has to say is that it has received “multiple” offers for BPCL. Bid sensitivity notwithstanding, shrouding the mere submission of EoI in secrecy defies logic. To add to it, the only company or investor that officially acknowledged showing interest is Anil Agarwal’s Vedanta. READ MORE 

10:04 AM

BSE Midcap index up nearly 0.5%

10:03 AM

EXPLAINED:: What justified the delisting of Lakshmi Vilas Bank's shares

The Reserve Bank of India’s (RBI’s) stand to delist the shares of beleaguered Lakshmi Vilas Bank (LVB) has invoked negative responses from many sections. The key losers are shareholders or investors, as the stock has been locked in the lower circuit for the fourth consecutive day. From Rs 15.7 per share last Tuesday, the stock has halved to Rs 8.10 now. While investors’ angst is understandable, one needs to understand the possible logic behind such a move. READ MORE

9:54 AM

Auto stocks in focus

COMPANY	LATEST(rs)	CHG(%)
TATA MOTORS	173.80	1.88
ASHOK LEYLAND	91.30	0.11
TATA MOTORS-DVR	74.00	1.79
M & M	719.70	2.05
MARUTI SUZUKI	7193.15	2.96