MARKET WRAP: Indices end flat, Sensex slips 66 pts; Bharti Airtel falls 8%

All that happened in the markets today

11:07 AM

RBI to intervene to prevent Rupee gains despite signs of leniency: ICICI

India’s central bank will continue to intervene to prevent any sharp appreciation in the rupee, even after signs of leniency toward currency gains in recent weeks, according to ICICI Bank Ltd. The Reserve Bank of India’s forex strategy has been in sharp focus after it stepped away from dogged dollar buying amid large inflows. The perception that the RBI was easing back on greenback purchases was accentuated by a rare comment from policy makers in late August that the appreciating rupee had helped tackle imported inflation. READ MORE

10:57 AM

Sterling and Wilson Solar surges 20% on heavy volumes

According to analysts the proceeds received by SP group after exiting Tata group could be used to repay debt the former owes to Sterling and Wilson Solar. Last week, Shapoorji Pallonji group missed a deadline to repay dues to Sterling and Wilson Solar Ltd. READ MORE

10:47 AM

Hindustan Zinc surges 7% as Co to raise up to Rs 4,000 crore through NCDs

Shares of Hindustan Zinc (HZL) rallied nearly 7 per cent to Rs 222.75 apiece on the BSE on Wednesday, a day after the company said its board-constituted panel has approved raising up to Rs 4,000 crore through debentures. "The duly authorised committee of directors...considered and approved offering for subscription on a private placement basis, up to 40,000 unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) of a face value Rs 10,00,000 each," the filing said. READ MORE  

10:35 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	9.72	-5.17
ALOK INDUSTRIES	24.65	-4.46
PUNJAB NATL.BANK	29.90	-0.66
NATL. ALUMINIUM	31.90	-0.31
IDFC FIRST BANK	29.00	1.05

10:26 AM

Hexaware hits fresh 52-week high as promoter accepts delisting price

Shares of Hexaware Technologies hit a fresh 52-week high of Rs 468.95 on the BSE on Wednesday after the company's promoter accepted discovered delisting price of Rs 475 per share.
 

“The acquirer and promoter have accepted the discovered price of Rs 475 per equity share as the final/exit price for delisting offer,” mid-size information technology (IT) services firm Hexaware Technologies said in a public announcement. READ MORE

10:16 AM

Economy is down, but markets have defied fears

The government is hopeful of a V-shape recovery in the coming quarters, but the Reserve Bank of India (RBI) is not. Lead indicators lend credence to RBI's theory of gradual recovery.

 

In contrast, equity markets, which crashed over 40 per cent even before the lockdown came into effect on March 24, have defied fears, staging a dramatic recovery fuelled by aggressive stimulus measures by global central banks and support from the Centre and the RBI. READ MORE

10:08 AM

Rupee Opening

Rupee opens unchanged vs Tuesday's close at 73.58 per US dollar

9:57 AM

Tata Group stks mixed after Shapoorji Pallonji Group agrees to exit Tata Sons

Shares of Tata Group companies were trading mixed in the morning deals on Wednesday, a day after Shapoorji Pallonji Group, owned by the billionaire Mistry family, told the Supreme Court (SC) that it would exit Tata Sons, provided an early, fair, and equitable solution was reached. At 09:25 AM, Tata Motors was trading over 1 per cent higher at Rs 134.55, Tata Consumer Products was up over 0.5 per cent at Rs 507, Tata Communications traded nearly 2 per cent higher while Tata Metaliks quoted around 1.4 per cent higher at Rs 512 on the BSE. READ MORE

9:52 AM

MARKET CHECK :: Indices off morning highs

9:47 AM

RIL soars 3% as KKR to pick 1.28% stake in Reliance Retail for Rs 5,550 cr

Shares of Reliance Industries (RIL) surged 3 per cent to Rs 2,276.50 on the BSE in the early morning deal on Wednesday after the company announced that global investment firm KKR will invest Rs 5,550 crore in Reliance Retail Ventures (RRVL) for 1.28 per cent equity share. The stock hit a record high of Rs 2,368.80 on September 16, 2020. READ MORE

9:41 AM

Nifty IT index leads the list of sectoral gainers

9:35 AM

Bharti Airtel dips 3% in an otherwise firm market

9:29 AM

HCC soars nearly 9%

>> Hindustan Construction Co (HCC) on Tuesday said the company has closed the sale of its Farakka Raiganj Highway project to Cube Highways at an enterprise value of Rs 1508 crore. The company also looks to raise another Rs 1,000 crore from various sources by next year

9:27 AM

Tata Group stocks largely positive

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)	VALUE (rs CR)	VOLUME
TATA MOTORS	136.60	136.60	134.95	3.50	2.63	2.37	173558
TATA POWER CO.	52.15	52.35	51.75	0.60	1.16	0.16	29770
TATA STEEL	374.50	377.55	372.15	0.30	0.08	0.69	18366
TATA MOTORS-DVR	60.55	60.55	59.10	1.80	3.06	0.10	15824
TCS	2485.80	2517.00	2484.00	-37.75	-1.50	2.30	9250

9:25 AM

Sun Pharma up nearly a per cent

>> Sun Pharma on Wednesday announced that its wholly-owned Japanese subsidiary has launched ILUMYA (tildrakizumab) in Japan for the treatment of plaque psoriasis in adult patients who have an inadequate response to conventional therapies.