Sunday, December 22, 2024 | 03:35 PM ISTEN Hindi

MARKET: Sensex tumbles 600 pts on surging Covid cases; Nifty ends at 11,730

All that happened in the markets today

SI Reporter New Delhi

On the NSE, all the sectoral indices ended in the red.

11:57 AM

Top gainers on the BSE at this hour

11:45 AM

BROKERAGE VIEW | Anand Rathi Shares on Amara Raja Batteries

RATING: BUY | TARGET PRICE: Rs 942

We expect revenue to grow 16% in FY22 and the margin to expand to 16.7%.Accordingly, we expect strong, Rs 7.3bn, earnings, leading to an EPS of Rs 42.8. We maintain a Buy, with a target of Rs 942 (22x FY22e EPS. Risks: Lower growth in the replacement market in FY22.

11:35 AM

BROKERAGE VIEW | Emkay Global on ICICI Pru Life

RATING: HOLD | TARGET PRICE: Rs 456

We maintain our estimates and expect value of new business (VNB) to grow at a CAGR of ~8.1% to Rs20.3bn over FY20-23E, with a 15.6% CAGR in EV to Rs3.55tn by FY23E. We maintain Hold and UW stance in Insurance EAP, with a TP of Rs 456, corresponding to 1.8x P/FY23 EV.

11:30 AM

Torrent Pharma: Cost controls not enough, recovery in key markets crucial

Torrent Pharmaceuticals’ impressive July-September quarter (Q2) performance lends confidence to its strength in the domestic arena. Continued resilience in chronic therapies and a rebound in acute therapy sales have led to the domestic business (nearly half of overall) grow 7 per cent year-on-year — 4.1 per cent sequentially — outperforming the Indian pharma market by 1 percentage point in the September quarter. READ MORE

11:24 AM

MARKET CHECK

11:12 AM

Top losers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
VEDANTA	96.65	-5.66
HIMATSING. SEIDE	126.65	-4.88
JUST DIAL	650.55	-4.29
MRF	65750.00	-4.12
AMARA RAJA BATT.	757.10	-4.06

» More on Top Losers

10:58 AM

Castrol India shares soar 8% on strong September quarter results

Shares of Castrol India soared 8 per cent to Rs 118 on the BSE on Wednesday after the company reported a good set of results for September quarter (Q3CY20) with Ebitda (earnings before interest, taxes, depreciation, and amortisation) increasing 17.9 per cent year on year (YoY) to Rs 288 crore. Ebitda margin improved 386 basis points to 32.63 per cent from 28.77 per cent in the year-ago quarter. READ MORE

share market

10:47 AM

KPR Mill surges 15%, hits 52-week high on good Q2 results, capex plan

Revenue from operations grew 74 per cent sequentially to Rs 906 crore as against Rs 522 crore reported in Q1FY21. Ebitda (earnings before interest, taxes, depreciation, and amortisation) margin, meanwhile, stood at 20.1 per cent, as compared to 22.21 per cent in June quarter and 21.31 per cent in the previous year quarter. READ MORE

10:37 AM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
K P R MILL LTD	760.00	12.31
BHARTI AIRTEL	470.45	8.65
CASTROL INDIA	116.00	6.62
TATA MOTORS-DVR	59.45	5.69
ORIENT CEMENT	67.40	5.56

» More on Top Gainers

10:28 AM

UBS Wealth, State Street pick Indian stocks as US election hedge

Indian stocks provide a good hedge in portfolios ahead of the US presidential election, thanks to a domestically oriented economy. That’s according to UBS Group AG’s wealth-management arm and State Street Global Markets, which are among firms recommending Indian shares even beyond the November 3 vote, as they expect the $2.1-trillion stock market to be relatively insulated from the election outcome and Sino-US trade tensions. READ MORE

equity, mf, mutual funds, cash, outflow, stocks, shares, investment

10:23 AM

Tata Group to buy majority stake in BigBasket for about $1 billion: Report

Indian online grocery startup BigBasket is in advanced talks to sell a majority stake for about $1 billion to salt-to-software conglomerate Tata Group , the Economic Times reported on Wednesday, citing three sources familiar with the matter. READ MORE

10:15 AM

Titan Co slips over 1% ahead of Q2 earnings; here's what to expect

Shares of Titan Company slipped over 1 per cent to Rs 1,216.75 apiece on the BSE on Wednesday ahead of its September quarter result (Q2FY21) due later in the day. In a quarterly update earlier this month, the company highlighted that Q2 was on a par with the year-ago period, led by improving walk-ins. The company said its jewellery business did very well during the quarter, with a recovery rate of around 98 per cent (excluding sale of raw gold), compared to the revenue of the corresponding quarter in the last year. READ MORE

Titan, Titan watch, titan jewellery, Titan q2

10:06 AM

Rupee Opening

Rupee opens at 73.70 per US dollar vs Tuesday's close of 73.71/$

10:00 AM

Hero MotoCorp gains 4% on tie-up with US-based Harley Davidson

Shares of Hero MotoCorp surged 4 per cent to Rs 3,025 on the BSE in the early morning trade on Wednesday after the company entered into an agreement with US-based Harley Davidson for sale and service of the latter's premium motorcycles in India. "As per the distribution agreement, Hero MotoCorp will sell and service Harley-Davidson motorcycles, and sell parts and accessories and general merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero's existing dealership network in India," the companies said in a joint press release. READ MORE