D-St bucks weak global trends; Sensex up 230 pts; PSB, realty stocks gain

Adani Ports (up 5 per cent) was the top Nifty gainer today, trailed by NTPC, Titan, SBI, Tata Steel, Bajaj Finserv, Grasim, and HDFC

1:02 PM

Higher flows and rich valuations push cash levels of mutual funds

The surge in flows into equity schemes in the past few months and rich valuations may have propped up their non-equity holdings that include cash and cash equivalents, as well as investments in debt instruments. The BSE Sensex and the Nifty50 have risen 9.4 per cent and 12 per cent year to date (YTD), respectively.

 

Nearly 51 per cent, or 236 of the 465 equity schemes that were considered have seen their non-equity holdings rise in the past year, the data from Value Research shows. READ MORE

12:50 PM

NEWS ALERT :: Zydus and Bayer announce continuity of their successful Joint Venture

Bayer (South East Asia) Pte Ltd and Cadila Healthcare Limited have announced the extension of their Joint Venture by three years from June 2021.

The companies first entered into an agreement on January 28, 2011 to set up the Joint Venture - Bayer Zydus Pharma Private Limited for the sales and marketing

of pharmaceutical products in India.
 

12:47 PM

NEWS ALERT :: Route Mobile ties up with Truecaller for enterprise services

>> Route Mobile Limited and Truecaller announed a technology partnership to enable enterprises to enhance trusted communication with the Truecaller Verified Business Caller ID

12:40 PM

MARKET UPDATE:: S&P BSE MidCap index turns green

12:39 PM

Will the Chairman of Saudi Aramco join RIL's board? Wait for mega AGM

An announcement of Al-Rumayyan’s induction on the RIL board or the board of the newly carved oil-to-chemical (O2C) unit may come as early June 24 at the company’s annual shareholder meeting.

 

“RIL’s annual general meeting (AGM) has historically been a keenly watched event (previously attended by 3,000 shareholders when held in physical format and last year saw 300,000 concurrent viewers of the virtual AGM across 42 countries and 468 cities), given that it has been one of the top 3 companies by market capitalisation in India, has a large free float, and a large public shareholding (more than 3 million non-institutional shareholders),” brokerage HSBC Global Research said in a report. Expectations are already built up for the AGM. READ MORE

 

12:29 PM

Stocks that hit 52-week high on BSE today in an otherwise weak market

Company	PRICE(rs)	52 WK HIGH	CHG(%)
APL Apollo Tubes	1585.65	1608.40	2.04
Asian Paints	3073.75	3076.70	0.79
CRISIL	2717.85	2740.70	5.92
Cyient	888.25	919.10	3.03
Dixon Technolog.	4609.90	4644.00	4.17

12:27 PM

Centre to increase pace of Covid-19 vaccination in July-August: Amit Shah

Union Home Minister Amit Shah on Monday said the central government has decided to increase the pace of vaccination against COVID-19 in July and August. Talking to reporters after visiting a vaccination centre here, Shah said with Prime Minister Narendra Modi's decision to provide free vaccine against COVID-19 to people aged 18 and above, "we will fast achieve the goal of inoculating almost everyone". READ MORE

 

12:17 PM

We will continue to actively look for acquisitions: ITC CMD Sanjiv Puri

"The second wave impacted sentiments quite severely, both in rural and urban centres. There has been a surge in cases in rural India this time and therefore rural sentiment has been under some pressure too. So, there may be a tendency to conserve. However, monsoons are expected to be good and given the fact that most manufacturing did not shut down this time, the loss of non-agricultural income could be lower than that of last year. With the pace of vaccination increasing, case-loads coming down and increasing mobility, consumers will increasingly gain more confidence and the economy will progressively recover." READ MORE

12:05 PM

BUZZING STOCK:: GMR Infra zooms 10%

11:53 AM

Centrum Capital hits 52-week high as arm gets RBI nod to set up SFB

Shares of Centrum Capital rallied 16 per cent and hit a 52-week high of Rs 58.50 on the BSE in intra-day trade on Monday after Centrum Financial Services Limited (CFSL) received an “in-principle” approval from the Reserve Bank of India (RBI) to set up a Small Finance Bank (SFB). CFSL is step down subsidiary of Centrum Capital. Centrum Group, on Friday, said it has also received approval from the RBI to take over the troubled cooperative lender Punjab and Maharashtra Co-operative Bank Limited (PMC Bank). READ MORE

11:46 AM

These 5 stocks are indicating positive breakout on charts. Do you own any?

On Monday, the Indian benchmark indices clawed their way out of the early lows but were still trading half a per cent down. The weakness, however, can be seen as an opportunity by investors as major medium-term supports are not broken, technical charts suggest. Here is the list of stocks showing positive momentum. READ MORE

11:34 AM

India Inc goes for price hikes again as input cost pressures increase

Companies across categories such as durables, paint, and consumer staples are raising product prices by 2-5 per cent as input cost pressures increase. While palm oil, used to make soaps, has come off its peak and metal prices are showing signs of cooling off in the past month, crude oil continues to remain volatile. READ MORE

11:23 AM

Adani Ports gains 10% in 2 days after promoter buys shares via open market

Shares of Adani Ports and Special Economic Zone (APSEZ) were up 3 per cent at Rs 714 on the BSE in intra-day on Monday, rising 10 per cent in the past two trading days, after the promoter bought nearly 2 million shares of the company via the open market. On June 17, 2021, Infinite Trade and Investment Ltd, the promoter group of the company, purchased 1.93 million shares, representing a 0.09 per cent stake, worth Rs 126.81 crore of the company via the open market, according to disclosure made by APSEZ on June 19, 2021. READ MORE

11:12 AM

MARKET UPDATE:: Broader indices outperform benchmarks; India VIX up 7%

11:02 AM

Asian markets skid on jitters over future US Federal Reserve action

Asian markets skidded on Monday, with Japan's Nikkei 225 index down 3.4%, after a sell-off Friday on Wall Street gave the S&P 500 its worst weekly loss since February. Investors are still recalibrating their moves after the Federal Reserve's signal last week that it may raise current ultra-low rates sooner than had been expected. That gave the Dow Jones Industrial Average its worst weekly loss since last October. READ MORE