MARKET WRAP: Indices snap 5-day rally, Sensex slips 345 pts; IT, autos fall
All that happened in the markets today
1:59 PM
Sector Watch :: Nifty Metal Index ruling 3% higher
1:46 PM
IPO ALERT :: Rossari Biotech's public offer to open b/w July 13-15
>> Issue type: Book building IPO
>> Issue size: 11.68 million shares
>> IPO price: Rs 423 to Rs 425 per Equity Share
>> Available in lots of 35 shares and in multiples thereof
>> Trading is likely to commence on July 23
>> Issue size: 11.68 million shares
>> IPO price: Rs 423 to Rs 425 per Equity Share
>> Available in lots of 35 shares and in multiples thereof
>> Trading is likely to commence on July 23
1:39 PM
Foreigners turn net buyers of Asian equities in June after 4 months
Foreign investors turned net buyers of Asian shares in June for the first time in five months, as easing coronavirus restrictions and a surge in global liquidity helped by stimulus measures by major central banks bolstered risk appetite. Overseas investors purchased $4.4 billion worth of regional equities last month, data from stock exchanges in India, Indonesia, the Philippines, South Korea, Taiwan, Thailand and Vietnam showed. READ MORE
1:31 PM
NEWS ALERT :: Cabinet approves extending PM Garib Kalyan Yojana till Nov
1:28 PM
L&T Infotech trades higher for 5th straight day, hits all-time high
Shares of Larsen & Toubro (L&T) Infotech hit an all-time high of Rs 2,070 in an otherwise subdued market, up 3 per cent, on the BSE on Wednesday on expectation of earnings recovery in the second half of the financial year 2020-21. It surpassed its previous high of Rs 2,049 touched on February 14, 2020. The stock was trading higher for the fifth straight day, gaining 7 per cent in the past one week, as compared to 3.3 per cent rise in the S&P BSE Sensex. In the past three months, L&T Infotech has outperformed the market by surging 52 per cent, as against 22 per cent gain in the benchmark index. READ MORE
1:22 PM
» More on 52 Week High
Stocks that hit 52-week high on BSE today
COMPANY | PRICE(rs) | 52 WK HIGH | CHG(%) |
---|---|---|---|
BRITANNIA INDS. | 3676.25 | 3712.25 | -0.03 |
COROMANDEL INTER | 766.60 | 778.35 | 1.79 |
DIXON TECHNOLOG. | 6091.00 | 6150.00 | 3.63 |
ESCORTS | 1094.75 | 1118.00 | -1.42 |
JUBILANT LIFE | 723.00 | 725.00 | 7.27 |
1:13 PM
UTI MF to side-pocket debt exposure to Zee Learn following downgrade
UTI Mutual Fund (MF) has proposed to side-pocket exposure to Zee Learn (ZLL) in two of its schemes - UTI Credit Risk Fund and UTI Medium Term Fund -- after the company’s debt papers were downgraded to below-investment grade on Tuesday. As of July 6, UTI Credit Risk had nine per cent of its assets exposed to the Essel group company (Rs 40.77 crore), while the medium-term fund had 3.02 per cent exposure (Rs 3.4 crore). READ MORE
1:12 PM
NEWS ALERT :: No BS IV vehicle will be registered if sold after March 31, 2020, rules Supreme Court
>> SC says, It would be violation of the spirit of the court order if we allow sales after opening of lockdown.
>> Government to file data on which vehicle details were uploaded on the eVahan portal post March 31.
>> FADA should give details of the vehicles sold to the govt.
>> Government to file data on which vehicle details were uploaded on the eVahan portal post March 31.
>> FADA should give details of the vehicles sold to the govt.
1:00 PM
European indices trade lower in early deals
1:00 PM
Stick to hybrid funds, capping risk for lower returns may not be a bad idea
Another fund manager points at the third category of investors — those who cannot manage active asset allocation. “For these investors who do not do financial planning in terms of allocation money to equity and debt, and reallocate on a regular basis, these schemes are quite good because it gives them a natural hedge against over-exposure to equities or debt at any point in time. Also, many investors may not want to spend the next 10 years or more in equities for returns, this is a medium-term option for them,” says the fund manager. READ MORE
12:51 PM
Lupin recalls diabetes treatment drug Metformin Hydrochloride in US
In a regulatory filing, the company said that it is voluntarily recalling its Metformin Hydrochloride extended-release tablets USP, 500 mg and 1000 mg products in the US.
"This recall is being conducted out of an abundance of caution in line with the ongoing interaction with the US Food and Drug Administration on NDMA impurity levels," the filing said. READ MORE
12:41 PM
Jump in ore prices eases NMDC's woes
However, with the onset of monsoon, the outlook for steel demand remains subdued in the September quarter, which is a traditionally weak quarter for steel and ore. Also, the company’s March quarter performance and June sales update do not impress. READ MORE
12:32 PM
TCS Q1 preview: Covid-19 pandemic to hit earnings; annual guidance unlikely
Tata Consultancy Services (TCS), that is slated to announce its financial results on Thursday, July 9 will kick-off the April – June 2020 earnings season for information technology companies. It will be the first large-cap company to do so for the quarter that was marred by the Covid-19 induced national lockdown. The company, according to analysts, may post up to 7 per cent decline in revenue in constant currency (CC) terms on a sequential basis owing to anticipated pressure in travel, transportation, energy, retail, and manufacturing segments due to the ongoing Covid-19 crisis. READ MORE
12:22 PM
Bajaj Finance, Manappuram: How to trade NBFC stocks in a volatile market?
Mahindra & Mahindra Financial Services Ltd (M&MFIN): The counter is attempting to cross its 100-day moving average (DMA), placed at Rs 208.30 levels. If the stock manages to conquer this level decisively, the overall trend may remain positive and the counter can then move towards Rs 273 levels, its 200-DMA. The Relative Strength Index (RSI) has entered the overbought condition - a sign of likely profit booking over the medium-term. The current momentum, however, remains strong and is likely to sustain for now. READ MORE
12:19 PM
NEWS ALERT :: Union Ministers Prakash Javadekar and Narendra Singh Tomar to brief press on Cabinet decisions at 3:30 pm today
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jul 08 2020 | 7:27 AM IST