Sensex ends 110 pts lower ahead of Q2 GDP data; BSE Smallcap index up 2.4%

All that happened in the markets today

2:22 PM

BSE SmallCap index trades 1.76% higher

2:15 PM

Vakrangee gains 28% in 2 days after rolling back amalgamation scheme

Shares of Vakrangee moved higher by 14 per cent to Rs 39.70 on the BSE in the intra-day trade on Friday, surging 28 per cent in the past two trading days, after its board approved the withdrew amalgamation scheme for two wholly-owned subsidiaries due to "substantial changes in the business environment". READ MORE

2:09 PM

Coal India, PNB: How to trade stocks that underperformed amid market rally

The stock market has witnessed a stellar rebound as the benchmark indices have zoomed over 70 per cent from their respective March lows. At 01:44 PM, the S&P BSE Sensex was trading at 44,251 levels while NSE's Nifty was just shy of the crucial level of 13,000. However, amid this market rally, there have been few counters which have underperformed the market. READ MORE

2:01 PM

European indices trade flat in early deals

(Source: Reuters)

1:48 PM

Burger King IPO to open on December 2; here is all you need to know

Burger King aims to raise Rs 810 crore through the issue which comprises a fresh issue of shares worth Rs 450 crore, and an offer for sale of up to 60 million shares by promoter entity QSR Asia Pte Ltd worth Rs 360 crore, at the upper end of the price band.

 

The company intends to utilise the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes. READ MORE

1:37 PM

Divi's Labs: New capex, margin expansion to support earnings growth

With gains of 51 per cent, Divi’s Laboratories has been the best-performing large-cap pharma stock in the past six months. The stock hit its all-time high earlier this week and is within a touching distance of the Rs 1-trillion market-cap mark.

 

If it tops that, it would be only the second pharma company to cross that mark after Sun Pharma. The recent trigger for the stock has been earnings upgrades led by strong margin performance and a revenue visibility on the back of additional capex. READ MORE
 

1:26 PM

MARKET CHECK :: Sensex at this hour

1:18 PM

Commodity Corner :: Copper zooms near 7-year high

The metal, widely used in power and construction industries, has rallied 77 per cent since its March lows.

 

"Copper's rise is generally macro driven because of the vaccine and risk sentiment remains upbeat .... We are seeing synchronised gains across all metals," said ING analyst Wenyu Yao. READ MORE

1:09 PM

Top 5 stock picks by Ashish Biswas, Head of Technical Research, CapitalVia Global Research

>> GMR INFRA above 26.25 with a TGT of 27.20 and SL of 25.35. It has a support of 8 DMA.

>> Adani Ports above 401.60 with a TGT of 408 and SL of 395.50. It has support of 21 and 55 MA in short time period.

>> HDFC AMC above 2545 with a TGT of 2615 and SL of 2480. It is trading in an upward moving channel.

>> JSW ENERGY above 62 with a TGT of 64 and SL of 60. It is on the support levels currently and we can expect a reversal from here.

>> SRT TRANSFIN above 1076 with a TGT of 1100 and SL of 10554. It is trading in an upward moving channel.

 

1:01 PM

Bitcoin and millennials :: How Indian crypto entrepreneurs beat the system

Having the world’s largest diaspora — and more than $100 billion in two-way money flows last year — isn’t the only thing. Prime Minister Narendra Modi’s disastrous ban on 86 per cent of the country’s currency in November 2016 shook Indians’ faith in fiat money. Add the fear of leaving spare cash in banks when three major deposit-taking institutions have crumbled in the past 15 months. No wonder Arcane expects Indian crypto volumes to overtake China’s. READ MORE

12:52 PM

IPO Alert :: Burger King IPO to open on Dec 2

Issue Type: Book building

Issue size: 135 million shares (75 million fresh issue, 60 million OFS shares)

Amount: Rs 810 crore

Bid closes: Dec 4

Expected listing: Dec 14

12:48 PM

Greaves Cotton advances 17% in two days as promoter increases stake in Co

On Wednesday, November 25, 2020, D B H International Private Limited, the promoter group Greaves Cotton has acquired 207,500 equity shares of company at an average price of Rs 73.82 per share, according to disclosure made by company to the stock exchange. READ MORE

12:40 PM

Q&A | IT and telecom will do well in the medium term: Vinay Paharia of Union AMC

We expect sectors such as IT and telecom to do well in the medium term. IT has seen a meaningful rise in demand, given the pande­m­ic. Firms are accelerating IT spends, which is happening for survival and not growth. Telecom is expected to witness benefits of consolidation and rise in demand, given the increased data consumption by both consumers and enterprises. READ FULL INTERVIEW HERE

Vinay Paharia, Chief Investment Officer, Union Asset Management Company

12:25 PM

Q2FY21 GDP :: Expectation by Jyoti Roy- DVP- Equity Strategist at Angel Broking

>> GDP growth numbers are expected to show an improvement sequentially. Post the Q2FY21 numbers most economists have revised their GDP growth numbers for Q2. The contraction in Q2 is expected anywhere between 7-10% as compared to earlier expectations of low double digit contraction.  As long as the GDP print is not significantly below consensus estimates we do not expect markets will react too negatively to it. 

>> However in case the Q2FY21GDP contraction is less than consensus estimates of ~8% then markets will react positively to it. However, we believe that markets will focus more on high frequency indicators like PMI, Auto sales and power demand which point to significant acceleration in the economy from October due to festive demand and opening up of the economy. PMI and Auto sales numbers for the month of November are expected in the first week of December which we believe will be more crucial for the markets.”

 

 

 

12:15 PM

MARKET UPDATE:: Broader indices outperform benchmarks