RIL, IT stocks help Sensex settle 195 pts higher; Nifty ends above 12,900

All that happened in the markets today

2:14 PM

MARKET UPDATE | Nifty hits fresh intra-day record high of 12,969

2:12 PM

Explained :: What justified the delisting of Lakshmi Vilas Bank's shares

Ever since investors were made aware of the Reserve Bank of India’s (RBI’s) stand to delist the shares of beleaguered Lakshmi Vilas Bank, it has invoked negative response from all sections. While the angst of the investors is understandable, one needs understand the possible logic in a move of this nature. Sample this, from -0.88 per cent tier-1 capital as on March 31, 2020, its plunged to -4.85 per cent by September 30,2020. READ MORE

2:02 PM

GLOBAL MARKETS CHECK:: Asian indices hold gains

1:58 PM

Tata Steel, JSW Steel: Metal stocks poised for further upside, charts show

NIFTY METAL: After successfully conquering the 100-weekly moving average (WMA) at 2,500 mark, the index is set to move towards 200-WMA, which comes at 2,969 levels, as per the weekly chart. This move has a support of 2,600 on the downside. The trend is highly positive with the Relative Strength Index (RSI) witnessing buying momentum in an overbought condition, as per the daily chart. READ MORE 

1:55 PM

Motherson Sumi nears 52-week high after it unveils 5-yr restructuring plan

Shares of Motherson Sumi Systems (MSSL) advanced 5 per cent to Rs 146.30 on the BSE in the intra-day trade on Monday after the company outlined its next five year plan, Vision 2025. The stock of the auto ancillary company was trading close to its 52-week high level of Rs 151 touched on January 9, 2020. At the analyst meet held recently, Motherson Sumi Systems said that it is targeting $36 billion in group revenues by FY25E, including 25 per cent contribution from non-automotive space. READ MORE

1:44 PM

MARKET CHECK

1:36 PM

Credit risks rising for infrastructure projects in India, says S&P

The hit to the Indian infrastructure sector from Covid-19 pandemic will continue to be felt in 2021 even as the economy revives following the lifting of the country-wide lockdown, according to rating agency Standard & Poor’s. Credit risks are rising because of increasing debt levels and a weakening of counter parties. Rrefinancing remains difficult for speculative grade-rated issuers, the rating agency said in its presentation "India's Infrastructure Recovery Won't Be Quick". READ MORE

1:25 PM

Sebi mulls lower dilution, 5 years for achieving 25% float for large IPOs

The country’s markets regulator on Friday proposed changes to the rules governing initial public offerings (IPO) to encourage issuances by large companies. Under the new framework, big firms may be able to list with just 5 per cent dilution and get more time to achieve the 25 per cent minimum public shareholding requirements. READ MORE

1:25 PM

Cement stocks gain in a volatile market

COMPANY	LATEST(rs)	CHG(%)
INDIA CEMENTS	149.95	1.59
AMBUJA CEMENTS	259.70	0.97
ACC	1754.00	3.94
STAR CEMENT	89.05	3.97
HEIDELBERG CEM.	201.65	2.02

1:15 PM

Oil prices extend gains on coronavirus vaccine hopes, OPEC+ output check

Oil prices extended gains on Monday as traders eyed a recovery in crude demand thanks to successful coronavirus vaccine trials, although prices were contained by renewed lockdowns in several countries. Sentiment was also bolstered by hopes that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, will keep crude output in check. READ MORE

1:09 PM

Market Voice :: Shyam Sekhar on price discovery of stocks

12:59 PM

Small towns account for 16% of MF asset base

B30 (beyond top 30 cities) accounted for 16 per cent of the total industry Average Assets Under Management (AAUM) in October this year, and the balance was contributed by T30 cities, or the top 30 locations in India, the Association of Mutual Fund Industry (Amfi) said. READ MORE

12:48 PM

NEWS ALERT :: AstraZeneca/Oxford say Covid vaccine shows 70% efficacy, reports AFP

>> AstraZeneca says one-dosing regimen showed #vaccine efficacy of 90% when it was given as a half dose, followed by a full dose at least 1 month apart & another dosing regimen showed 62% efficacy when given as two full doses at least one month apart.

>> To seek Emergency Use Authorisation from WHO soon

12:42 PM

Nifty Energy Index rises 2%

12:32 PM

Stocks that hit 52-week high on BSE today in an otherwise volatile market

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ACC	1740.00	1749.40	3.11
ADANI GAS	346.50	366.15	0.35
ADANI GREEN	1157.70	1177.40	1.95
AFFLE INDIA	3305.75	3305.75	5.00
AMARA RAJA BATT.	869.15	878.15	1.15