MARKET: Sensex slips 433 pts ahead of AGR hearing; Nifty Bank down over 2%

All that happened in the markets today

11:56 AM

RBI's payout unlikely to plug the huge govt revenue hole created by Covid

India’s Finance Minister Nirmala Sitharaman can expect another payout from the central bank in coming weeks, but it’s unlikely to plug a huge government revenue hole created by the pandemic. The Reserve Bank of India’s board, led by Governor Shaktikanta Das, is meeting Friday, and since August is typically the month the central bank makes its annual transfer to the government, expectations are running high that the RBI will disclose its dividend payout. READ MORE

11:44 AM

Shriram City Union Finance surges 16%

11:32 AM

Hero MotoCorp shares slip 2% after June quarter profit plunges 95% YoY

Shares of Hero MotoCorp slid 2 per cent to Rs 2,757.66 on the BSE after the two-wheeler maker reported a 95 per cent year-on-year (YoY) decline in consolidated net profit at Rs 57.78 for the quarter ended June 30 (Q1FY21), on account of lower sales due to Covid-19 pandemic. Total income during the quarter under review declined to Rs 3,119.22 crore as compared with Rs 8,410.41 crore in the year-ago period, Hero MotoCorp said in a regulatory filing. READ MORE

11:24 AM

Nifty Pharma index rallies nearly 3%; Lupin surges 10%, Cipla, Cadila up 3%

Among individual stocks, Lupin gained up to 10 per cent to Rs 1,019 in the intra-day deals. At 10:46 AM, the stock was ruling over 8 per cent higher at Rs 1,008.15 and was the top gainer on the Nifty Pharma index. Cipla, Cadila Healthcare, Sun Pharma, and Torrent Pharma were next on the gainers' list as their share prices rose in the range of 3.3 to 2.1 per cent. All the 10 constituents of the Nifty Pharma index were trading in the green. The benchmark Nifty50 index, on the other hand, was trading flat at 11,323 levels. READ MORE 

11:18 AM

MARKET UPDATE:: India VIX cools 4% to below 20 level

11:18 AM

Greaves Cotton dips 3% post Q1 nos; Nagesh Basavanhalli steps down as CEO

Besides, the Board of the company approved the resignation of Nagesh Basavanhalli as Managing Director and CEO and appointed him as the Vice Chairman (Non-Executive) with immediate effect. READ MORE

11:06 AM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
REDINGTON INDIA	108.80	15.62
MAHINDRA LIFE.	247.20	12.77
ECLERX SERVICES	674.20	8.65
RAIL VIKAS	21.35	7.02
LUPIN	992.00	6.62

10:55 AM

Decline in equity flows may push up asset size needed by AMCs to break even

The industry’s assets under management (AUM) have grown substantially spurred by retail participation via systematic investment plans (SIPs), especially after demonetisation. The bulk of this growth has been driven by equity funds, which charge higher fees than debt and hybrid schemes. The total expense ratio (TER) for such schemes can be 1.5-1.7 per cent of AUM as against 0.1-1 per cent for liquid or debt schemes. READ MORE

10:45 AM

Eicher Motors dips 3% after posting a loss of Rs 55 crore in June quarter

Earnings before interest, tax, depreciation and amortisation (EBITDA) were at Rs 4 crore in the quarter as compared to Rs 614 crore in the same quarter of previous financial year.

 

"The previous quarter put forth unprecedented challenges for the industry and for Eicher Motors, However, the long-term potential for both Royal Enfield and VE Commercial Vehicles (VECV), the truck and bus making company of Eicher Motors, is promising," said Eicher Motors' Managing Director Siddhartha Lal. READ MORE

10:37 AM

Redington India in focus; shares jump 18% post June quarter nos

The company's net profit declined 19.31 per cent to Rs 88.78 crore during the quarter as against Rs 110.03 crore profit logged during the corresponding quarter of the previous fiscal. Total revenue came in at Rs 10,722 crore, down 8.2 per cent as against Rs 11,686.6 crore in the year-ago period. READ MORE

10:26 AM

3M India slides 4% on consolidated net loss of Rs 43 crore in June quarter

It's standalone net loss came in at Rs 39.91 crore during the quarter under review, compared to Rs 84.9 crore profit in the year-ago period. Besides, it reported a pre-tax loss of Rs 54.17 crore, down from Rs 131 crore pre-tax profit reported in Q1FY20. Total income from operation (including other income) stood at Rs 326.6 crore, down from Rs 747.63 crore earned in Q1FY20. READ MORE

10:16 AM

BPCL dips 1% despite 93% YoY jump in Q1 PAT of Rs 2,076 cr, recovers later

According to the oil and gas company, the rise in profit was mainly due to inventory gain, despite a decline in sales and weak refining margin. The state-run oil marketing company posted consolidated net profit at Rs 2,187.74 crore, up 21.6 per cent YoY. READ MORE

10:07 AM

MARKET CHECK:: Sensex holds opening gains

10:03 AM

Rupee Opening

Rupee opens at 74.85 per US dollar vs Thursday's close of 74.84/$

9:53 AM

Nifty Pharma index trades higher in early deals