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

All that happened in the markets today

9:31 AM

Vodafone Idea trades higher

9:30 AM

Umang Dairy leaps over 9%

9:29 AM

Bharti Airtel slips in trade

9:27 AM

HDFC Bank up 1%

9:26 AM

Reliance Industries up over 2% after CCI approves deal with Future Grp

9:24 AM

Ujjivan Small Finance Bank soars 13% post RBUI's ownership widening rules

9:21 AM

Sectoral trends at Open

9:21 AM

Sensex Heatmap at Open

9:19 AM

NIFTY AT OPEN

9:18 AM

SENSEX OPENS AT RECORD HIGH

9:05 AM

Top gainers and losers on the S&P BSE Sensex at Pre-open

9:04 AM

Markets at Pre-open

9:03 AM

Markets at Pre-open

8:58 AM

Top stocks to watch

Banks, NBFCs are expected to remain in focus today as the Reserve Bank of India’s internal working group (IWG) reviewing corporate structure of private sector banks has suggested sweeping changes in bank ownership in its report released on Friday, including allowing large corporate and industrial houses to own banks by amending the Banking Regulation Act, 1949. 

 

Telecom stocks: Telecom tariff hike is needed as the current rates are "unsustainable" and market conditions will be seen before a call is taken, telecom czar and chairman of Bharti Airtel Sunil Mittal has said.

 

Bharti Airtel on Friday said it will acquire 5.2 per cent stake in solar power company Avaada MHBuldhana for Rs 4.55 crore in an all-cash deal. It is a subsidiary of Avaada Energy Private Limited (AEPL). READ MORE  

8:57 AM

BROKERAGE VIEW :: MOFSL on V-Mart

CMP: Rs 2,018 | TP: Rs 2,350 (+16%) | Reco: Buy

>> Apparel retailers are seeing improved demand MoM, but demand remains far below pre-COVID levels. VMART is strongly positioned to compete with regional

and national players in the Value Retail segment given its better performance v/s national peers, strong liquidity, and leverage position.

>> We factor in higher FY22E revenue/EBITDA by 11%/10% from FY20 levels to reach INR18b/INR2.3b in FY22E, with 15/60 store additions in FY21E/FY22E. Tailwinds from VMART’s resilient position in a weak competitive environment should help it gain local market share.

>> We assign a 20x FY22E EV/EBITDA multiple (27% discount to three-year average multiple) to arrive at TP of INR2,350/share (16% upside). VMART currently

trades at FY22E EV/EBITDA of 17x. We continue to maintain our Buy rating given the huge growth opportunity in the space, its superior balance sheet, and its astute inventory / working capital management.