Sensex ends choppy trade 70 pts higher, Nifty tops 13,750; IT stocks shine

The broader markets ended in the red for second straight day.

2:12 PM

Sensex wipes off nearly 300 points losses, slips back into the green; trades flat

2:10 PM

Garware Polyester rallies 8% on strong revenue outlook

Shares of Garware Polyester edged higher by 8 per cent to Rs 366, hitting a multi-year high on the BSE, in the intra-day trade on Friday after the company said it became the first paint protection films (PPF) manufacturer in India. The firm sees Rs 300 crore incremental revenue by financial year (FY) 2023 on the back of its entry into the PPF segment. READ MORE

 

2:07 PM

Borosil Renewables raises Rs 200 cr via QIP

Solar glass maker Borosil Renewables on Friday said it has raised Rs 200 crore by issuing 1.58 crore shares through qualified institutional placement. The issue opened on December 14, 2020, and closed on December 17, the company added. Borosil Renewables Ltd (BRL) has successfully completed fundraising of Rs 200 crore through a qualified institutions placement (issue), a company statement said. (Text Source: PTI)

2:02 PM

BROKERAGE VIEW | Anand Rathi upgrades Navin Fluorine to BUY; target price at Rs 3,000

To strengthen its specialty chemicals division and for growth, Navin Fluorine announced Rs1.95bn capex in agro and pharma, expected to be funded through internal accruals and debt.  The multi-purpose plant at its wholly-owned subsidiary, Navin Fluorine Advanced Sciences, at Dahej, Gujarat, is expected to be commissioned in H1 FY23, with ~1.4x asset turnover. The expansion would help launch products of complex fluorinated chemistry and strengthening customer relations. We upgrade our rating to Buy with a higher target of Rs 3,000, valuing the stock at 34x FY23e EPS, from Rs 2,500 earlier.

 

1:59 PM

Sipadan Investments (Mauritius) trims stake in IDFC Ltd by 2.17%

Sipadan Investments (Mauritius) Ltd has trimmed stake in IDFC Ltd by selling 3.46 crore shares representing 2.17 per cent stake in the open market. As per a regulatory filing, Sipadan Investments (Mauritius) Ltd sold 3,46,51,51 shares in IDFC Ltd in the open market. The shares were sold between November 23 and December 16, 2020. (Text Source: PTI)

1:51 PM

NEWS ALERT | KNR Construction board approves bonus in the ratio of 1:1

1:45 PM

NEWS ALERT | RITES secures project management consulting work of Rs 62 crores

1:38 PM

Unlocking gains | Battery makers charged up for next leg of growth on replacement demand

Channel checks conducted by Sharekhan indicate that dealers are witnessing strong replacement demand in the two-wheeler and four-wheeler segments. Higher mobility on road has increased battery demand in replacement markets, which is a positive for Amara Raja Batteries and Exide Ind. READ MORE

1:28 PM

NEWS ALERT | Avenue Therapeutics gets regulatory update for intravenous tramadol: Cipla

Drug major Cipla on Friday said its step-down associate company Avenue Therapeutics has received an update from the US health regulator for its new drug application for intravenous (IV) tramadol. Avenue Therapeutics' IV tramadol is intended to treat patients in acute pain who require an opioid. (Text Source: PTI)

1:23 PM

Bitcoin at $23,000 | Rahul Pagidipati, CEO, ZebPay

I believe the coming year will see a significant rise for Bitcoin. With recent announcements from MassMutual, Fidelity, Microstrategy, and Square, we’re seeing institutional capital to the tune of hundreds of millions of dollars entering into the picture. Coupled with wider awareness and education, it’s easy to envision the price of bitcoin going up by 100% in 2021. 

 

That’s why the time is now to get into Bitcoin. This is especially true for Indians. We're extremely fortunate that the Supreme Court opened the doors again so every Indian can take advantage of this amazing technological revolution.

1:16 PM

MARKET STATS

• Advance-decline ratio at nearly 5:9 on BSE
• 226 stocks at 52-week highs; 30 at 52-week lows
• 284 stocks hit upper circuit limits; 263 scale lower circuits

1:10 PM

Nov Aviation Data :: Domestic air passenger traffic up 20% to 63.5 lakh from 52.71 lakh in October 2020

>> IndiGo's passenger load factor rises to 74% from 68.2%

>> SpiceJet's PLF rises to 77.7% from 74% In October 2020

(Source: DGCA)

12:58 PM

L&T trades firm as arm lowest bidder for HPCL Rajasthan Refinery contract

LTHE has emerged as the lowest bidder for HPCL Rajasthan Refinery Ltd's two engineering, procurement, construction and commissioning (EPCC) packages, coming up at Barmer in Rajasthan, news agency IANS reported, quoting sources. READ MORE

12:57 PM

Nifty Media index breaks into the green

12:48 PM

Airtel, Jio, Vodafone have to fork out Rs 44,000 cr for 4G spectrum auction

The forthcoming spectrum auction will be focused on spectrum renewals for the three major operators — Bharti Airtel, Reliance Jio, and Vodafone Idea — which could cost them a combined total of Rs 44,000 crore, which is equivalent to the adjusted gross revenues of telcos in the quarter of June 2020. READ MORE