Sensex slips 183 pts in a choppy trade; Nifty below 15,700; TCS dips 1.5%

The broader markets, on the flipside, settled about half a per cent higher.

12:13 PM

Realty investment highest in five years for June quarter, shows data

Investment activities in the April-June quarter remained highest in several years despite the spread of Covid-19 cases and lockdowns. According to the data from JLL, the Rs 10,200-crore investment in the last quarter was nine times of that in the same quarter previous year when the first wave of the pandemic rattled public life. READ MORE

11:59 AM

NEWS ALERT :: Alembic Pharma receives US FDA final approval for Erlotinib tablets

>> These are used for treatment of metastatic non-small cell lung cancer

Click here for detailed report

11:50 AM

NEWS ALERT :: Ashoka Buildcon gets letter of award worth Rs 482.3 cr

Ashoka Buildcon Limited has received Letter of Award (LOA) from IRCON International Limited in respect of the Project, Viz. "Provision of supply, Erection, Testing & Commissioning of Electro Mechanical (E&M) System on Dharam-Katra Section of USBRL Project (J&K).
 

11:43 AM

NEWS ALERT :: BHEL bags order worth Rs 1,405 cr from NPCIL

Bharat Heavy Electricals (BHEL) has won a major order for the supply of 12 Steam Generators from Nuclear Power Corporation of India Limited (NPCIL), the company said in a filing.

11:29 AM

TCS may surge 15% from here, tech charts suggest

The overall price structure reflects an “ascending triangle pattern” for IT major TCS. The stock faces stiff resistance in the range of Rs 3,400 – Rs 3,300 per share, show daily charts. READ MORE

11:23 AM

Bajaj Finserv's m-cap crosses Rs 2 trillion as stock scales new high

Bajaj Finserv entered the elite club of companies having a market capitalisation (market-cap) of Rs 2 trillion after its stock price hit a new high of Rs 12,611.65, up 2.3 per cent in Friday's otherwise range-bound market. The stock of the Bajaj Group's holding company surpassed its previous high of Rs 12,529.15, touched on June 28, 2021. READ MORE

11:14 AM

TCS Q1 numbers a blip or sign of times to come? Here's what analysts say

While the brokerages on a consensus did revise their earnings estimates downwards on revenue miss in the June quarter of the financial year 2021-22 (Q1FY22) and flagged rich valuations, they largely held 'Buy' or 'Hold' calls on the stock. READ MORE

10:55 AM

Bajaj Steel shares hit new high; stock zooms 125% in a month

Shares of Bajaj Steel Industries hit a new high of Rs 1,432, ralling 10 per cent on the BSE in the intra-day trade on Friday, in an otherwise weak market. In comparison, the S&P BSE Sensex was down 0.36 per cent at 52,433 points at 10:18 am. Bajaj Steel is engaged in the manufacture and sale of machinery for cotton ginning and pressing, used for preparing textile fabrics in India and abroad. It is the only company in the world that produces machineries for all cotton ginning technologies. READ MORE

10:39 AM

MARKET UPDATE:: Sensex pares majority of the early losses, turns flat

10:37 AM

NEWS ALERT :: Tata Power bags order worth Rs 400 crore

Tata Power has been empanelled and won a contract worth INR400cr from the Kerala State Electricity Board Limited (KSEBL) to develop 64 MW solar rooftop project for domestic consumers across all districts of Kerala.

As a part of this agreement, the company will implement projects through KSEBL of 80MW for individual households with solar capacity ranging from 3kW - 10kW) and for 20 MW of residential / housing society with projects (solar capacity ranging from 11kW - 100kW). 

Click here for more detail
 

10:28 AM

Zomato's Rs 9,375-crore IPO to bring bonanza for Info Edge, Sequoia, Goyal

Zomato’s much-awaited initial public offering (IPO) has turned out to be a major winning bet for several private equity (PE) investors and early backers of the online food delivery company.

 

The existing shareholders of the company are set to make gains in the range of 50 per cent to 6,450 per cent on their investments as India’s first major e-commerce company launches its Rs 9,375-crore maiden offering next week. READ MORE

10:11 AM

MoD ropes in Bharat Dynamics to supply Akash Missiles; stock zooms 7%

"The company has bagged new orders worth about Rs 2,803 crore (including taxes) during the FY 2020-21 which includes Anti - Tank Guided Missiles order worth about Rs 1,820 crore and Surface to Air Missiles order worth about Rs 793 crore", BDL said in a press release. READ MORE

9:54 AM

TCS down 1% as June quarter earnings miss Street expectation

The stock of information technology (IT) major was trading 0.85 per cent lower at Rs 3,229 at 09:32 am, marginally recouping the morning loss. It had hit a high of Rs 3,274 in opening trade. In comparison, the S&P BSE Sensex was down 0.41 per cent and the S&P BSE IT index lost 0.10 per cent on the BSE. READ MORE

9:54 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
Vodafone Idea	8.83	0.34	5676414
GMR Infra.	31.95	-0.47	4528825
NMDC	167.00	0.00	3506940
Suzlon Energy	8.40	-1.87	2805228
Tata Motors	306.40	0.03	723112

9:39 AM

MARKET VIEW :: 'Buy on dips' may not be a good strategy now

There is a sudden bout of negative news for markets. The elusive virus, which is foxing even the World's best epidemiologists, has again become a threat with countries like South Korea and Australia imposing fresh restrictions. Tokyo Olympics closing to spectators is a sentiment negative. The 0.8 % cut in S&P 500 and deeper cuts in European markets indicate that the uptrend is temporarily halted.

How deep the downtrend will depend on institutional behaviour and the retail investor response. The latter is a powerful market determining factor now. Without a doubt, the valuations are excessive and there is room for markets to correct significantly. 'Buy on dips' may not prove to be a good strategy now. Profit booking and increasing the cash component in the portfolio are advisable.

Views by: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.