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

12:42 PM

NBCC scales 52-week high, surges 10% in 2 days on awarding Rs 860 cr order

Shares of NBCC (India) rallied 6 per cent to hit a 52-week high of Rs 59.80 on the BSE in intra-day trade on Tuesday, gaining 10 per cent in the past two days, after the company awarded a work order for the construction of residential towers and civic amenities in New Delhi on transit oriented development (TOD) norms, engineering procurement and construction (EPC) mode to NCC at their quoted price of Rs 859.84 crore. READ MORE

12:33 PM

MSCI India crosses 55% premium over emerging markets peers: Report

The domestic market has been the best performer globally YTD, with the Sensex rallying 56.2 per cent in the past 12 months, and 5.5 per cent in the past one month and 5.1 per cent in the last three months; while the same for Nifty has been 58.8 per cent, 5.1 per cent and 6.6 per cent, respectively, Credit Suisse Wealth Management India report said on Monday. READ MORE

12:22 PM

Gold edges higher on subdued dollar ahead of Jerome Powell's testimony

Gold inched higher on Tuesday as a halt in the dollar's rally bolstered the appeal of the precious metal ahead of U.S. Federal Reserve Chairman Jerome Powell's testimony to Congress. Spot gold was up 0.3% at $1,787.80 per ounce by 0454 GMT, after rising more than 1% in the previous session. US gold futures gained 0.3% to $1,787.70. READ MORE

12:12 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.

 

This gives credence to the theory that the central bank may not want to issue a fresh set of 10-year paper in a hurry and would rather continue with the existing security.  READ MORE

12:01 PM

Top gainers on BSE at this hour

Company	PRICE(rs)	CHG(%)
IFCI	14.78	9.97
H U D C O	56.05	9.58
I O B	25.40	7.63
Venky's (India)	3105.25	7.61
Sheela Foam	2378.00	6.95

11:50 AM

With growth prospects improving, more steam left in NTPC stock

NTPC, India’s premier power generator, had a strong fourth quarter. Revenues from operations fell 0.9 per cent to Rs 30,102 crore from Rs 30,390 crore a year ago. But PAT surged to Rs 4,649 crore from Rs 1,630 crore.

 

This was due to a tax refund of Rs 968 crore versus tax paid of Rs 4,958 crore YoY. Consolidated revenue from operations in FY21 was up 1.8 per cent YoY to Rs 1,11,531 crore from Rs 1,09,464 crore. READ MORE

11:41 AM

London-based hedge fund that bet against GameStop shuts down: Report

A London-based hedge fund that suffered losses betting against U.S. retailer GameStop Corp during the first meme stock rally in January is shutting down, the Financial Times reported on Tuesday. White Square Capital has told investors that it will shut its main fund and return capital this month after a review of its business model, the newspaper said, citing people familiar with the fund and a letter to investors. READ MORE

11:28 AM

Venky's India nears three-year high; stock zooms 106% in two months

Shares of Venky’s (India) rallied 9 per cent to Rs 3,144.85 on the BSE in intra-day trade on Tuesday and were trading close to their three-year high level on the back of improved earnings. The stock of the packaged foods company was quoting at its highest level since August 2018. It had hit a record high of Rs 4,711 on April 2018. The stock has zoomed 106 per cent in the past two months, as compared to 10 per cent rise in the S&P BSE Sensex. The company is engaged in various manufacturing activities in the poultry industry, including poultry and poultry products, animal health products and oilseed. READ MORE

11:14 AM

Market is factoring in a 26% earnings CAGR over FY21-23: Nomura

The market is factoring in a 26 per cent compounded earnings growth (CAGR) in earnings between fiscal 2020-21 and 2022-23 (FY21-23), suggests a recent report by Nomura, with banks, autos, metals, oil and gas, and information technology (IT) services being the key contributors to incremental earnings over the period. On the other hand, there are potential risks to current estimates for consumer, telecom and financials, which could lead to a 5-10 per cent cut in FY23 earnings estimates, it said. READ MORE

11:06 AM

Maruti Suzuki to hike car prices in July-September quarter; stock up 4%

Maruti Suzuki (India) shares rose 4.5 per cent to Rs 7,211.90 on the BSE in intra-day trade on Tuesday after the car & utility vehicles company said it would be raising vehicle prices in the July-September quarter (Q2FY22) to pass on higher input costs. although the quantum of the increase has not been disclosed. At 10:27 am, the stock was up 4 per cent at Rs 7,190 on the BSE, as compared to 0.91 per cent rise in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 644,000 shares changing hands on the NSE and BSE, so far. READ MORE

10:52 AM

Explainer :: 'Death cross' chart formation adds more worry to bitcoin outlook

For technical analysts watching bitcoin, an important and potentially bearish chart formation just happened in the cryptocurrency: A "death cross."

 

The formation could signal further losses ahead.  READ MORE

10:42 AM

Q& A | FII flows into India may take a hit in short-term: Kenneth Andrade

We have had a number of bouts of capital raising whenever valuations are favourable. The only discomforting part is there is nothing on the table for investors in terms of valuations. So, it will be a long haul for new investors in a new business with limited historical record. Will it continue, as long as it is favourable for entrepreneurs to raise capital at great valuations, this trend is unlikely to stop. READ MORE

10:30 AM

NEWS ALERT :: Engineers India wins Rs 111 crore order

> Numaligarh Refinery has entrusted the project for execution of revamp of delayed Coker Unit to Engineers India Limited. The estimated order value is Rs 111 crore.

10:26 AM

Laurus Labs gains 2% on robust growth outlook, zooms 70% so far in FY22

Shares of Laurus Labs traded 2 per cent higher at Rs 615.40 on the BSE in intra-day trade on Tuesday, rising 70 per cent thus far in the current financial year 2021-22 (FY22) on a robust growth outlook. In comparison, the S&P BSE Sensex is up 7 per cent since April. The stock of the pharmaceutical company had hit a record high of Rs 641.95 on June 8, 2021. READ MORE

10:21 AM

Retail investors stock up on financial, consumer staple, IT: SBI report

Retail investors have allocated most to the financial sector stocks at the bourses, followed by consumer staples, energy and information technology (IT) over the past few months, said the latest report by the economic wing of State Bank of India (SBI). There is also a renewed interest in healthcare stocks, SBI believes, with Indian financial ecosystem being effectively acting as a conduit of large liquidity finding investment avenues. READ MORE