D-St ends flat ahead of Powell testimony; Sensex up 14 pts; auto, IT gain
Maruti Suzuki, up 5 per cent, on the NSE was the biggest gainer on the Nifty today after the company decided to hike vehicle prices in the July-September quarter (Q2FY22) to pass on higher input costs
3:11 PM
MARKET CHECK :: Sensex pares gains
2:57 PM
Paper stocks in demand; JK Paper surges 19%, Orient Paper up 10%
Shares of paper and paper products companies were in focus, rising up to 19 per cent in intra-day trade, on the BSE on Tuesday on expectation of higher demand. JK Paper surged 19 per cent to hit a 52-week high of Rs 208.75 in intra-day trade today, on the back of three-fold jump in trading volumes. Thus far in the month of June, the stock has outperformed the market by gaining 31 per cent, as compared to 1.6 per cent rise in the S&P BSE Sensex. READ MORE
2:45 PM
Covid leaves Indian adults poorer by 6.1% in 2020: Credit Suisse
Covid-19 pandemic that brought life to a near standstill in 2020 has left Indian adults poorer by 6.1 per cent in 2020, suggests the Credit Suisse Global Wealth Report 2021. Wealth per Indian adult in 2020, according to the report, dropped to $14,252 by 2020-end compared to pre-pandemic levels. On a cumulative basis, Credit Suisse estimates the drop in the wealth of Indian adults at $594 billion. READ MORE
2:35 PM
Tech view: Divestment news can trigger up to 25% rally in IOB, Central Bank
PSU Bank stocks are back on investor radar this week after a media report suggested the government may soon initiate the process to privatise Central Bank of India and Indian Overseas Bank. The report further suggested the two lenders might see 51 per cent sale in the first phase of disinvestment. Reacting to the development, shares of both these lenders got locked in the 20 per cent upper circuit on Monday and extended thier rally to jump 16 per cent (IOB) and 17 per cent (Central Bank of India) on Tuesday and claimed fresh 52-week highs. READ MORE
2:25 PM
CLICK HERE FOR THE FULL LIST
Fall from intra-day high today in BSE500 stocks
COMPANY | DAY'S HIGH(RS) | DAY'S LOW(RS) | LATEST(RS) | FALL(%) |
---|---|---|---|---|
Central Bank | 28.30 | 25.45 | 25.55 | -9.72 |
I O B | 27.95 | 25.20 | 25.35 | -9.30 |
J & K Bank | 44.35 | 40.05 | 41.15 | -7.22 |
Mahindra Life. | 638.00 | 594.80 | 595.40 | -6.68 |
2:17 PM
MM Forgings zooms 19%, nears record high on strong Q4 results
Shares of MM Forging zoomed 19 per cent to hit a 52-week high of Rs 720 on the BSE in intra-day trade on Tuesday after the company reported a strong set of numbers for the quarter ended March 2021 (Q4FY21). The stock was trading close to its all-time high level of Rs 743, touched on June 18, 2018. In Q4FY21, the company's standalone profit after tax (PAT) nearly doubled at Rs 30.14 crore, against Rs 15.34 crore in Q3FY21, on the back of healthy income. It had posted PAT of Rs 6.54 crore in Q4FY20. READ MORE
1:59 PM
Auto parts suppliers to see 70% fall in operating profit in Q1: Icra
Auto component industry is likely to witness a 70 per cent decline in operating profits in the first quarter of the current fiscal due to disruptions caused by the second wave of COVID-19, as per domestic ratings agency Icra. The challenges for component manufacturers will be further compounded by the sharp increase in commodity prices, which are generally passed through to original equipment manufacturers (OEMs) with a lag of 3-6 months, Icra noted. READ MORE
1:50 PM
RBI likely to go against convention on raising funds through bonds
The Reserve Bank of India (RBI) will use the existing 10-year bond to raise at least Rs 14,000 crore from the markets on Friday, taking the outstanding of the paper to more than Rs 1.33 trillion, possibly the highest ever amount raised against a security. READ MORE
1:44 PM
Global economy :: UK government borrowing falls as economic recovery boosts tax revenues
British public borrowing fell in May from sky-high levels of a year earlier when the government was ramping up a huge spending response to the coronavirus crisis, and there are signs that the recent recovery in the economy was boosting tax revenues.
Borrowing excluding public sector banks totalled 24.3 billion pounds ($33.8 billion) in May, down from 43.8 billion pounds in the same month in 2020, the Office for National Statistics said. READ MORE
1:34 PM
Domestic cold chain biz struggles to keep up volumes to recover investment
Industry officials are of the view that pharma cold chain alone could grow by about 20 per cent compound annual growth rate (CAGR), while the non-pharma segment by 15 per cent CAGR for the next few years. The cold chain industry in India, however, is fragmented and has only a few organized players catering to both pharma and non-pharma segments such as confectionaries, fruits and vegetables among others. READ MORE
1:24 PM
Fuel prices hiked again, petrol nearing century mark across the country
With the rise, petrol prices have reached very close to hitting the century mark all across the country extending the scope of historic high prices that had already made the fuel rate cross the Rs 100 per litre-mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana, Andhra Pradesh. READ MORE
1:16 PM
India's electric vehicle sales to grow at 26% in FY21-23: Fitch Solutions
The recently announced electric vehicle (EV) incentives by India along with high fuel prices will be supporting factors for stronger adoption of EVs over 2020-2023, leading to an average annual growth rate of 26 per cent, Fitch Solutions said on Tuesday. However, it said the economic impact of Covid-19 pandemic and limited domestically produced EVs will prove a challenging barrier to overcome. READ MORE
1:06 PM
Firms' m-cap grew fastest in 2020 despite GDP contraction: SBI economists
Indian companies' market capitalization has grown at the fastest pace last year among major economies despite contraction in GDP, economists from SBI said, flagging the risks to financial stability it poses. Further, retail investors have shown higher interest in markets and their numbers have increased by 1.42 crore in FY21 and another 44 lakh in April and May, they said in a note, wondering if this will be a lasting behavioural change or is transitory. READ MORE
12:52 PM
NEWS ALERT :: NCLT approves Jet Airways resolution plan by Kalrock-Jalan committee
> Slots to be considered for Jet Airways as and when applied
> Jet Airways asked to apply for slots in 90 days
> Historic slots and rights will not be available for Jet Airways
12:49 PM
Maruti, Tata Motors: Auto stocks showing positive trend reversal on charts
The Nifty Auto index has seen a decline of over 6 per cent recently, with market sentiment staying light. However, the long-term trend has been bullish and continues to stay upward until the major supports are not broken.
That said, analysts tracking the space also expect the 'pent-up demand' story to play out from the second quarter of the financial year 2021-22 (Q2FY22) as states unlock. Furthermore, pick up in vaccination pace also holds the key for a revival in the auto space, they said. READ MORE
Topics : MARKET LIVE Markets BSE Sensex Nifty50 MARKET WRAP
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First Published: Jun 22 2021 | 8:04 AM IST