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

All that happened in the markets today

11:57 AM

Foreign ownership limits: MSCI India to see passive inflow of $2.5 billion

Morgan Stanley Capital Investment (MSCI) has said it will implement the new regime on foreign ownership limits (FOL) in the MSCI Global Indexes containing Indian securities coinciding with the November 2020 Semi-Annual Index Review. Based on an analysis by Ridham Desai, head of India research and India equity strategist at Morgan Stanley and Sheela Rathi, their equity research analyst, the MSCI India index could see passive inflow to the tune of $2.5 billion due to this development. READ MORE

11:44 AM

Nestle India gains 7% in two days post September quarter results

Shares of Nestle India gained 5 per cent to Rs 17,023 on the BSE on Tuesday. The stock has risen 7 per cent in the past two trading days after the company reported stronger-than-expected recovery with double-digit sales growth for the quarter ended September 2020 (Q3CY20). The board has declared an interim dividend for 2020 of Rs 135 per equity share amounting to Rs 1,302 crore, which will be paid on and from November 20, 2020. READ MORE

11:39 AM

NEWS ALERT :: PM Modi likely to meet FM Nirmala Sitharaman later today

11:29 AM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
KOTAK MAH. BANK	1551.70	9.60
TRENT	679.80	6.95
JUST DIAL	676.60	5.60
IPCA LABS.	2237.30	5.13
SHRIRAM TRANS.	725.10	5.06

11:18 AM

Sebi plan to introduce capital adequacy norms rattles stockbrokers

The Securities and Exchange Board of India's (Sebi) plan to introduce capital adequacy norms is causing further heartburn to brokers. Stockbrokers are already grappling with new guidelines around margin pledging, increase in upfront margin for intra-day trading, and strict penalties for violation of these norms. Sebi Chairman Ajay Tyagi, while addressing a conference recently, stressed the need for bringing new capital adequacy norms. “There are all types of brokers in the system. READ MORE

11:09 AM

Result Today :: Tata Motors may report up to Rs 3,212 crore loss in Q2 amid JLR's struggles

According to the company's monthly sales data, Tata Motors sold 1.1 lakh units in Q2FY21, up 5 per cent as compared to 1.05 lakh units sold in the corresponding quarter last year. Sequentially, volumes grew 341 per cent for Tata Motors from 25,047 reported in Q1FY21. READ MORE

11:00 AM

Ipca Labs rallies 9%, hits all-time high on hopes of healthy Q2 results

For the April-June quarter (Q1FY21), Ipca had reported over three-fold jump in its consolidated net profit st Rs 446 due to robust sales. The company had posted a net profit of Rs 129 crore for the corresponding period of the previous fiscal. Consolidated total income rose 41 per cent year on year (YoY) at Rs 1,546 crore. The company benefitted from good sales pick-up in hydroxychloroquine sulphate used in the treatment of Covid-19 in both domestic and export markets during Q1FY21. READ MORE

10:52 AM

PSB Q2 preview: NPA recognition ruling to prevent higher slippages

Analysts at Motilal Oswal Financial Services, for instance, expect most PSBs to see muted profit growth for banks under their coverage impacted by sluggish loan growth, higher proportion of MSME/SME loans, and delay in resolution of stressed accounts. Consequently, the brokerage sees the net profit declining 16 per cent year-on-year (YoY) for the sector. State Bank of India (SBI), however, remains an exception, they say. READ MORE

10:40 AM

IndiGo, SpiceJet: Lower costs, higher capacity utilisation to boost Q2 nos

Listed aviation players, InterGlobe Aviation (IndiGo) and SpiceJet, are expected to narrow their losses sequentially in the September quarter of FY21 (Q2FY21), as India gradually opened up its skies and unlocked the economy. Besides, mild appreciation of rupee during the quarter would aid non-fuel costs, say analysts. According to industry reports, the early part of Q2 witnessed localised lockdowns, slot restrictions at major airports, and low consumer confidence due to rising incidence of Covid-19 cases. READ MORE

10:33 AM

Q&A | Relevance of earnings releases has reduced over a period of time: Unmesh Sharma

Across sectors, companies are now releasing updates with operational details in the first week following the end of the quarter. In addition, the current quarter is really a lot more about outlook commentary (leading indicators) rather than results (backward looking). READ MORE 

10:25 AM

Angel Broking surges 17% on highest-ever quarterly profit in Q2

Shares of Angel Broking rallied 17 per cent to Rs 290 on the BSE on Tuesday after the company reported highest-ever quarterly profit after tax at Rs 74.6 crore in the September quarter (Q2FY21). It had posted profit of Rs 48.3 crore in June quarter (Q1FY21). The broking firm announced its maiden quarterly results after listing its shares earlier this month. Angel Broking had made a weak debut at the bourses on October 5, 2020. It listed at Rs 275, a 10 per cent discount against the issue price of Rs 306 per share on the BSE. The stock hit a high of Rs 296 on the listing day. READ MORE

10:15 AM

NEWS ALERT :: RBI notifies banks to follow provisions of Centre's interest scheme

10:10 AM

Result Today :: Stable qtr in the offing for Bharti Airtel; losses to contract, ARPU rise

For the entire sector as well, ICICI Securities expects a stable quarter for telecom companies. The brokerage sees both subscriber and average revenue per user (ARPUs) remaining firm given return of migrants to cities, continued higher data usage and thereby pack upgrades and improved availability of recharges both digitally/physically as cities/towns have largely restarted post lockdowns. READ MORE

10:01 AM

Rupee Opening

Rupee opens lower at 73.93 per US dollar vs Monday's close of 73.85/$

9:53 AM

Finolex Industries surges 9% on healthy September quarter numbers

Shares of Finolex Industries surged 9 per cent to Rs 579 on the BSE in the early morning deals on Tuesday after the company reported a 17 per cent year-on-year (YoY) growth in net profit at Rs 120 crore, on the back of healthy operational performance in September quarter (Q2FY21). The plastic products manufacturer had a profit of Rs 103 crore in the year-ago quarter. On a sequential basis, net profit more-than-doubled from Rs 57 crore in the June quarter (Q1FY21). READ MORE