MARKETS: Indices end flat; Sensex slips 37 points, Nifty settles at 13,114

All that happened in the markets today

12:32 PM

NEWS ALERT :: Rolls-Royce, Infosys tie up for Aerospace Engineering in India

12:30 PM

NEWS ALERT :: SC rejects Vedanta's plea seeking reopening of Sterlite Tuticorin plant

>> Plea sought to temporarily open the plant for 3 months

>> Court says in its considered view relief sought can't be granted

12:25 PM

SECTOR WATCH:: Nifty Bank index down 200 points

12:18 PM

Mutual funds set to turn net sellers of equities after 6 years of buying

Mutual funds (MFs), for the first time in seven calendar years, are set to be net sellers of Indian equities. They sold equities worth over Rs 22,000 crore in November — the sixth straight month of net selling. On a year-to-date basis, domestic funds are now net-sellers to the tune of more than Rs 20,000 crore. READ MORE

12:09 PM

Chart Check: YES Bank jumps over 30% in one month; will it rise more?

Shares of YES Bank were trading nearly 0.5 per cent lower in the late morning deals on Wednesday. The stock has risen over 30 per cent in the past month, recovering from the low of Rs 12.20 to the today's high of Rs 15.90 on the NSE. The stock has outperformed the market in one month, following the news of bank's inclusion in the MSCI India Index with effect from December 1. In comparison, the S&P BSE Sensex has rallied 12 per cent. READ MORE

11:59 AM

SECTOR WATCH:: Steel stocks gain in an otherwise weak market

COMPANY NAME	LATEST	HIGH	LOW	CHG(%)
S A I L	52.40	53.10	50.00	4.90
TATA STEEL	605.60	606.20	584.35	3.42
ISMT	11.41	11.41	11.00	4.97
JINDAL STEEL	267.00	268.20	251.10	5.33

11:50 AM

NEWS ALERT | Bharti Airtel buys additional 4.9% stake in Bharti Infratel: CNBC TV18

11:39 AM

Nifty Metal index hits 52-wk high; SAIL, Nalco, Hindustan Copper up over 5%

National Aluminium Company (Nalco), Steel Authority of India (SAIL) and Hindustan Copper from the index were up between 5 per cent and 7 per cent on the NSE. Jindal Steel and Power (JSPL), NMDC, JSW Steel, Tata Steel and Moil, on the other hand, were up in the range of 2 per cent to 3 per cent. READ MORE

11:30 AM

SoftBank phasing out derivatives option after losing market value by $17 bn

SoftBank Group Corp. is quietly winding down its controversial derivatives strategy after a sustained backlash from investors, according to people familiar with the matter. The Japanese conglomerate is letting its options expire, instead of maintaining its positions, the people said, who declined to speak publicly. About 90% of the contracts will close out by the end of December because they are short-term, according to one of the people. SoftBank will hold on to its underlying portfolio of big tech stocks, which included Amazon.com Inc. and Facebook Inc., the person said. READ MORE

11:22 AM

Is Reliance Industries' stock consolidating ahead of its next big up move?

RIL has been on a roll at the bourses and has been one of the best performers on the BSE ever since the markets began recovering from March 2020 lows. From its 52-week low of Rs 868 – hit on March 23 – the stock has zoomed a massive 173 per cent on the BSE to hit a 52-week high of Rs 2,369 on September 16, 2020. Moreover, after outperforming by 224 per cent over FY15-19, RIL has rallied nearly 50 per cent YTD relative to Nifty’s 8 per cent decline. READ MORE

11:14 AM

Top losers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
GREAVES COTTON	84.00	-4.11
ABB POWER PRODUC	1210.45	-3.76
VARROC ENGINEER	395.35	-3.23
IPCA LABS.	2214.90	-2.70
AMBER ENTERP.	2373.10	-2.61

11:02 AM

Sharp stock gains, 5G uncertainty cap further upsides for Tech Mahindra

Shares of IT major Tech Mahindra hit a fresh all-time high on Tuesday on expectations of improving margin trajectory, steady sales growth led by a robust order book and potential 5G growth opportunities. Tech Mahindra’s margin performance has been volatile over the years, unlike other Tier 1 peers and has remained a key concern for investors. READ MORE

10:49 AM

Top gainers on the BSE at this hour

10:38 AM

Phoenix Mills inks pact with GIC for mixed-use retail platform; stock up 8%

Shares of Phoenix Mills traded 8 per cent higher at Rs 742 on the BSE in early morning deal on Wednesday after the company said that the listed company and few of its SPVs have signed a non-binding term sheet with GIC Private Equity (PE) for the formation of a retail-led mixed-use platform. “The Phoenix Mills and its subsidiaries, Offbeat Developers Private Limited, Graceworks Realty and Leisure Private Limited and Vamona Developers Private Limited, have jointly signed a non-binding term-sheet with an affiliate of GIC Private limited ('GIC'), for formation and development of a strategic retail-led mixed-use platform,” the company said in a regulatory filing. READ MORE

10:30 AM

NEWS ALERT :: SpiceJet to support Covid-19 vaccine distribution

>> SpiceXpress, the dedicated cargo arm of SpiceJet, has come forth to take up the responsibility of seamlessly transporting the vaccine through a specialized service called Spice Pharma Pro.