Sensex surges 377 pts as financial, FMCG stocks rally; Nifty ends at 11,889

All that happened in the markets today

2:13 PM

Just Dial: Is this the number you missed to dial in your portfolio?

The stock of local search service provider Just Dial surged 6 per cent to Rs 679.5 per share on the BSE in the intra-day deals on Tuesday. The stock was trading at its fresh 52-week high level, surpassing the previous high of Rs 660.65 per share hit on October 24, 2019. So far in October, the stock has leaped nearly 69 per cent on the BSE till Monday, as against 5.4 per cent rise in the benchmark S&P BSE Sensex. That apart, the stock price has more-than-doubled in the current financial year, soaring 118.5 per cent since March 31, 2020 till Monday. READ MORE 

 

2:05 PM

Rupee Closing

Rupee ends 14 paise higher at 73.71 per US dollar vs Monday's close of 73.85/$

1:54 PM

Cement shares in demand; ACC hits fresh 52-week high, Shree Cement up 6%

Shares of cement manufacturers were in demand with most of the sector stocks trading higher in the range of 2 per cent to 6 per cent on the expectation of improved demand. Analysts expect the cement industry to witness positive growth in the second half (October-March) of the current fiscal (H2FY21) led by strong demand from the sustainable rural trade segment. READ MORE 

1:43 PM

Sept Quarter Result | Ceat profit comes in at Rs 182 crore

>> Revenue at Rs 1,978.5 crore

>> EBITDA at Rs 292.5 crore; margin at 19.5%

1:43 PM

Top losers on the BSE at this hour

1:30 PM

INDEX GAINER | Nestle up over 5%

1:18 PM

Nifty Bank Alert

1:12 PM

HDFC Securities on Torrent Pharma

RATING: ADD | TARGET PRICE: Rs 2,675

Torrent’s Q2 performance reflects resilience in India business (+7% YoY) EBITDA margin was strong at 31.5% (+450bps YoY, down 67bps QoQ) driven by cost savings. Barring US, most businesses witnessed improved traction. The company repaid debt of Rs4.4bn in 1H and is on track to reduce it by Rs10bn in FY21. We like Torrent’s India franchise and its superior return profile. Higher contribution from India justifies the premium multiple over peers. We tweak our estimates by 6%/-3%/1% in FY21/22/23 and revise our TP to Rs 2,675 (from Rs 2745) based on 16x EV/EBIDTA. Maintain ADD.

1:05 PM

Top gainers on the BSE at this hour

12:57 PM

How Covid-19 disruptions and food inflation have worsened RBI's trilemma

Also known as the “Trilemma,” it’s the bane of emerging markets from Argentina to Turkey. Cut interest rates too far and risk scaring off foreign capital, sending the currency tumbling. Raise borrowing costs too much to fight inflation and funds rush in, sending the currency higher and strangling exports. READ MORE

12:49 PM

Regaining investors confidence remains an uphill task for YES Bank

YES Bank published its July-September quarter (second quarter, or Q2) results last Friday. In anticipation of an improved performance, its stock was locked in the upper circuit, with gains of 5 per cent. READ MORE

12:38 PM

Jan to Sep VC investments down nearly 17 per cent YoY to $6.5 billion

Venture Capital investments dropped by around 17 per cent during January to September 2020 to $6.5 billion from $7.9 billion, last year. The funding was led by education, real estate and fintech. Investors say investment activity will increase in the coming months as Covid-19 has opened several new and first time opportunities for startups with fast changing consumer habits. Fintech, edtech and consumer driven startups are likely to raise more funds and grow faster. READ MORE

12:25 PM

Select stocks rally as MSCI to tweak foreign ownership limit in Indian stks

Shares of select companies rallied up to 8 per cent on the BSE on Tuesday after MSCI said it will implement the new regime on the foreign ownership limits (FOL) in the MSCI Global Indexes containing Indian securities coinciding with the November 2020 Semi-Annual Index Review. Shriram Transport Finance Company, Asian Paints, Nestle India, Larsen & Toubro, Bajaj Finance, Colgate-Palmolive India, Shree Cement, Ipca Laboratories, NTPC and Pidilite Industries were up in the range of 3 per cent to 8 per cent on expectation of inclusion into the MSCI indices. READ MORE

12:16 PM

Bajaj Auto, TVS: How to trade two-wheeler stocks this festive season

Two-wheeler stocks such as TVS Motor, Hero MotoCorp, and Bajaj Auto were among the top gainers on the Nifty Auto index, surging up to 1.6 per cent in the intra-day deals on the National Stock Exchange (NSE), on Tuesday. The move comes despite two-wheeler companies reporting sombre sales during the nine-day auspicious Navratri period -- the first leg of the festive season. READ MORE

12:00 PM

MARKET CHECK