MARKET WRAP: Sensex tanks 540 pts in broad-based sell-off, India VIX up 5%

All that happened in the markets today

12:27 PM

Emerging markets' eurobonds sizzle, on track to better last year's show

Emerging markets’ eurobond volumes are on track to surpass last year’s $590 billion amid unprecedented liquidity conditions for high-rated issuers. High-grade issuers are benefitting from robust investor demand, although improvement in financing conditions is losing momentum. READ MORE

12:18 PM

MARKET CHECK :: Indices at day's low

12:10 PM

Thyrocare rallies 10%, hits record high on expectation of strong Q2 results

At 11:37 am, Thyrocare Technologies was trading 6 per cent higher at Rs 1,121, as compared to 0.60 per cent decline in the S&P BSE Sensex. Trading volumes on the counter doubled with a combined 920,000 equity shares changing hands on the NSE and BSE till the time of writing of this report. READ MORE

12:01 PM

Future Group may challenge arbitration award putting RIL deal on hold

Kishore Biyani-led Future Retail on Monday hinted that it may challenge the arbitration award from the Singapore-based arbitration center before Indian legal forums, to ensure that its Rs 24,713 crore deal proceeds unhindered and without any delay.

 

Amazon.com Inc on Sunday won an interim award against its partner Future Group selling retail business to Reliance Industries Ltd for Rs 24,713 crore after a Singapore-based single-judge arbitration panel put the deal on hold. READ MORE

11:51 AM

Future Retail, IndusInd Bank, L&T: How to trade these news-driven stocks?

Larsen & Toubro Ltd (LT): After facing resistance at 100-day moving average (DMA), placed at Rs 925, since the last one month, the counter has now managed to conquer the level decisively. This demonstrates the potential upside towards Rs 975, which is its 200-DMA. The immediate support comes in at Rs 940 levels and it needs to be held on the closing basis. Furthermore, the technical indicator, the Moving Average Convergence Divergence (MACD) is at healthy levels, as it is likely to conquer the zero line upward. READ MORE 

11:40 AM

RIL extends losses, slides over 2%

11:30 AM

Foreign investors a bit wary of on-ground situation: Kenneth Andrade

Despite uncertainty, investors will look at the long-term core fundamentals while investing in equities, says the founder & chief investment officer, Old Bridge Capital Management READ FULL INTERVIEW HERE

11:25 AM

MARKET CHECK | Sensex slips over 200 pts

11:18 AM

MARKET UPDATE | Sensex slips over 170 pts

11:11 AM

Q2 Earnings | CDSL posts 68% YoY rise in consolidated PAT at Rs 48.87 crore

>>  Total Income increased by Rs. 31.81 crore (46%) to Rs.101.16 crore;

Standalone figures

>> Total PAT increased by Rs16.11 crore (73%) to Rs. 38.06 crore;
>> Total Income for the quarter increased by Rs. 26.57 crore (51%) to Rs. 79.15 crore

11:02 AM

BROKERAGE VIEW | LKP Securities on Polycab India

RATING: BUY | TARGET PRICE: Rs 1,178

Polycab has rebounded strongly in this quarter with overall margin expansion on back of improved demand. The company through its strong distribution network has been able to restrict the losses in the first quarter itself and quickly recovered with improvement in the overall business environment. Each and every business segment of the company has performed well in this quarter with strong revenue growth and margin expansion. The company expects the second half of FY21 to be much better than the first. Also, apart from the external factors, the company has been proactive in improving its business operations and financial health by adopting various measures. We expect the company to end the year with a flat revenue growth and PAT margin of around 6.8%. 

10:55 AM

Future group stocks under pressure as deal with Reliance put on hold

Shares of Future Group companies were under pressure and fell by up to 9 per cent on the BSE in intra-day trade on Monday after Amazon won a favourable ruling for its plea in Singapore against the Kishore Biyani-headed group striking a deal with Mukesh Ambani-led Reliance Industries Ltd (RIL). READ MORE  

10:45 AM

BROKERAGE VIEW | ICICI Securities on Coforge

RATING: HOLD | TARGET PRICE: Rs 2,690

Coforge is expected to benefit from increased investment in Cloud, AI and data. Further, the company is winning healthy deals in the BFS & insurance sector. This, coupled with wallet share gain in transport & improving growth trajectory in healthcare will lead to healthy growth in revenues in coming years. This, coupled with improving margins, prompt us to have a positive view on the stock from a long term perspective. However, the recent run up in stock price factors in most positives. Hence, we downgrade the stock from BUY to HOLD with a revised target price of Rs 2,690 (24x FY23E EPS).

10:35 AM

Early Q2 results better than expected but market rally may lose steam

The early-bird results have been better than expected with companies showing gains from the unlock. But they have done little to shore up the Nifty50 index’s underlying earnings per share.

 

In the first two weeks of the earnings season since Tata Consultancy Services (TCS) declared its results on October 7, the Nifty earnings per share (EPS), on a trailing 12-month basis, is up just around 1 per cent from about Rs 344 at the beginning of the current month to Rs 347 at the end of Friday READ MORE

10:27 AM

Top losers on the BSE at this hour