Sensex see-saws 325 pts, ends 19 pts down; banks gain; Tata Motors drops 9%

In the broader markets, the BSE MidCap index settled 0.12 per cent higher while the BSE SmallCap index closed 0.26 per cent lower

11:02 AM

Top gainers on BSE at this hour

Company	PRICE(rs)	CHG(%)
Force Motors	1360.55	12.10
AAVAS Financiers	2950.00	10.14
AU Small Finance	1124.05	9.01
Sumitomo Chemi.	426.75	8.15
India Cements	202.40	5.64

10:49 AM

Force Motors surges 13% as June sales more than double

Shares of Force Motors edged higher by 13 per cent to Rs 1,369 on the BSE in intra-day trade on Tuesday after the company’s total auto sales more-than-doubled or rose 124 per cent year-on-year (YoY) to 1,925 units in June 2021. The car and utility vehicles company had sold a total of 860 units in June 2020. On a month-on-month (MoM) basis, the total sales grew 32 per cent from 1,460 units sold in May 2021. READ MORE

10:35 AM

Product mix, margin concerns in the near term for Avenue Supermarts

The stock of Avenue Supermarts, which runs the DMart chain of stores, has been on an uptrend on expectations that it would be a key beneficiary of reopening post the lockdowns in multiple states. Since its lows at the end of April the stock has gained over 23 per cent as the Street expects some traction for its online store, DMart Ready and continued market share gain in the retail space. READ MORE

10:35 AM

Zomato's mega IPO gets Sebi nod, may hit market as early as this month

Food delivery company Zomato has obtained market regulator Sebi’s greenlight to launch its Rs 7,875-crore initial public offering (IPO). Investment banking sources said the mega issue could hit the market as early as this month. The processing status of draft red herring prospectus (DRHP) filed on the regulator’s website showed Zomato, Chemplast Sanmar and Tatva Chintan Pharma received observation letters from Sebi last week. READ MORE

10:22 AM

Triple Bottom: What the chart pattern means and how to make money using it

The Triple Bottom is one of the technical formations that indicates a bullish outlook for the stock / commodity / index. It reflects building up of positive sentiment among market players and signals a bullish reversal, majorly supported by strong volumes. READ MORE

10:13 AM

Gold at near three-week peak as dollar weakens; Fed minutes in focus

Gold prices on Tuesday hit their highest in nearly three weeks, as a pullback in the dollar made bullion less expensive for holders of other currencies, while investors awaited minutes from the U.S. Federal Reserve for clarity on monetary policy. Spot gold was up 0.4% at $1,798.46 per ounce, as of 0315 GMT, its highest since June 17. READ MORE

10:03 AM

Cement shares in focus; Ambuja Cements, JK Lakshmi Cement hit record highs

Shares of cement companies were in focus on the bourses on Tuesday in an otherwise subdued market with Ambuja Cement (up 6 per cent to Rs 360) and JK Lakshmi Cement (up 4 per cent at Rs 622.50) hitting their respective record highs on expectation of the profitability of the sector companies remaining intact despite cost rise. READ MORE

9:51 AM

NEWS ALERT :: Godawari Power repays entire long-term loan

>> The company’s Standalone Long-Term outstanding debt of Rs 1369 crore standing as on 31.03.2017 which was scheduled to be repaid by FY 2032, was brought down to Rs 457 crore as on 31.03.2021 by substantial repayment of debt during last financial year from internal accruals, with improvement in financial performance of the company. The balance outstanding debt of Rs 457 crore has been fully repaid by the company during the current year out of internal accruals.

9:48 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
Suzlon Energy	9.27	-0.43	30877838
Vodafone Idea	9.14	0.44	8461016
HFCL	94.90	9.08	3553692
Trident	18.05	4.94	2289844
Ashok Leyland	125.75	0.72	1585762

9:47 AM

MARKET VIEW | Rebalancing of portfolios in favor of fixed income may be initiated

Many global market experts are warning of bubbles in many asset classes, most prominently in equities. Equities, globally, are over-valued by all matrixes. But, interestingly, most bears warning about the collapse of the bubble are fully invested. These "fully invested bears" reflect the present market dilemma. Most bears are fully invested because the usual triggers for a sharp correction - persistent inflation, hawkish Fed, signals of imminent recession - are absent. So, the bull juggernaut may continue to roll on; but investors have to exercise caution. Some rebalancing of portfolios in favor of fixed income may be initiated. Markets are likely to respond positively to many Q1 FY22 numbers coming out from this week onwards. Brent crude at $77 is a serious macro concern.

-- V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:42 AM

Religare Enterprises in the red even as shareholders approve preferential share issue

>> The company's shareholders have approved a proposal for raising Rs 570 crore via preferential issuance of shares to a clutch of investors, including existing shareholders.

9:40 AM

Airline stocks gain as Aviation Ministry increases seating capacity to 65%

>> The Civil Aviation Ministry has allowed domestic airlines to operate at 65 per cent of their original pre-COVID level capacity. The Centre on July 5 increased the seating capacity from the current 50 per cent to 65 per cent.

9:37 AM

BUZZING :: KPR Mills surges over 7%, hits 52-week high

9:35 AM

S H Kelkar and Company drops over 2% on Q1 business update

>> On a consolidated basis, the company's sales in Q1FY22 stood at around Rs 355 crore, and on the balance sheet front, its net debt position stood at around Rs 386 crore as of June 2021 compared to Rs 380 crore as of March 2021.

9:34 AM

Raymond declines marginally as lifestyle biz CEO steps down

>> CEO of Raymond's lifestyle business Joe Kuruvilla decided to step down after an eight month stint at the company