Sensex ends 95 pts lower, small, mid-caps outperform; Voda Idea zooms 27%

All that happened in the markets today

2:35 PM

Vodafone Idea rallies 54% from Tuesday's low ahead of fund raising meet

Shares of Vodafone Idea (VIL) rallied 20 per cent, up for the second straight day, to Rs 11.88 on the BSE on Thursday ahead of its board meeting on Friday to consider fund raising plan. The telecom services provider's stock had ended 11 per cent higher on Wednesday. With the past two day’s surge, the share price of VIL has zoomed 54 per cent from Rs 7.69, touched in intra-day trade on September 1. READ MORE

2:35 PM

Interest Waiver Case | The main grievance of the petitioners is that they have not been given the adequate relief, says Justice Bhushan

>> Asks, whether under DM Act something more has to be done by NDMA and other authorities?

>> Says, other circulars are not under challenge so we are bound by Article 32 jurisdiction.

>> Reiterates that petitioners want sector wise relief.

2:29 PM

Interest Waiver Case | Accounts do not become NPAs on September 1, says SG Mehta

2:21 PM

Interest Waiver Case | The idea of Moratorium was not to waive off interest, says SG Mehta

>> The idea was to defer repayment to ease the burden caused by Covid and lockdown so that business can manage working capital

>> The effort is that those who are affected by Covid-19 and are facing distress get the benefit and those who are defaulters are not able to take benefit

Alert: SG Tushar Mehta represents RBI

2:15 PM

NEWS ALERT :: 15th Finance Commission to meet tomorrow

>> Commission to consider GDP growth, tax buoyancy of the Centre and the States, GST compensation, revenue deficit grant and fiscal consolidation

 

2:09 PM

Interest Waiver Case | SC begins hearing

>>  Supreme Court is considering the question of interest to be charged on interest as well as the powers of the Centre and the NDMA under the Disaster Management Act to provide relief on aspect of loan repayment during Covid-19 pandemic.

>> Solicitor General Tushar Mehta says that steps needed to be taken by the authorities required to take note of following aspects:

 

- Reduction of immediate pressure of payment of installments

- Revival of all possible sectors

- Restructuring of stressed assets

- Banking sector

2:05 PM

Rupee Closing

Rupee ends lower at 73.48 per US dollar vs Wednesday's close of 73.03/$

2:00 PM

MARKET CHECK:: India VIX drops over 3% to 20.46 levels

1:52 PM

European indices trade higher in early deals

1:45 PM

BUZZING STOCK:: Vodafone Idea zooms 18%

1:44 PM

Jubilant FoodWorks rebounds from day's low, hits record high post Q1 results

The stock declined 2 per cent to Rs 2,210 in the early morning trade after the company reported weaker than expected April-June quarter (Q1FY21) earnings with same-store-sales (SSS) falling 61.4 per cent and a net loss of Rs 72.6 crore. The company had clocked net profit of Rs 75 crore in the previous year quarter. Gross margins, however, expanded by 350bps year on year (YoY) on low discounting, reduced input costs and delivery charges. READ MORE  

1:34 PM

Indian private banks to gain market share from PSBs: Fitch Ratings

Private banks' loss-absorption buffers, particularly enhanced capital bases, strengthen their ability to recognise losses upfront with less disruption in their efforts to accelerate market-share gains. However, gains are not likely to immediate as the sector's credit growth is likely to remain subdued. They will only resume meaningfully once a sustained recovery from the pandemic gets underway, Fitch said. READ MORE 

1:29 PM

MARKET CHECK:: Top 5 gainers on the BSE at this hour

1:23 PM

NEWS ALERT :: Tata Power bags order worth Rs 490 cr from MInistry of Defence

1:15 PM

BROKERAGE VIEW:: Emkay Global on Automobiles

We expect volumes to improve in the coming quarters on pent-up demand, better rural sentiment, low interest rates, improvement in finance availability, and a gradual pick-up in business/economic activity. Our top picks are Eicher Motors, Mahindra & Mahindra and Ashok Leyland.