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

10:56 AM

NEWS ALERT :: Maruti Suzuki to increase prices to pass on rise in input costs

10:46 AM

Market direction hinges on corporate earnings growth, bond yields

The benchmark Nifty is up 12 per cent this year. Where the index goes from here hinges on how corporate earnings growth and valuation multiples pan out. Broking firm UBS says if earnings of Nifty50 companies grow at 25 per cent this year and 17 per cent each in the next two financial years, the benchmark index may move towards 17,000.

 

However, if earnings growth disappoints and the markets get de-rated, the index can even drop to 13,000. READ MORE

10:34 AM

March Quarter Results :: Info Edge

Revenue at Rs 290 cr vs Rs 329 cr YoY

 

Net Profit at Rs 67 cr vs Rs 41 cr

 

10:31 AM

PNB Housing hits 5% lower circuit as Sebi halts deal with Carlyle

Till 10:11 am, a combined around 37,000 shares had changed hands and there were pending sell orders for 260,000 shares on the NSE and BSE combined. In comparison, the S&P BSE Sensex was down 0.53 per cent at 52,069 points.

 

The housing finance firm was planning to issue shares and warrants on a preferential basis to private equity firm Carlyle Group and associates, which were reported to be investing Rs 4,000 crore to acquire a controlling stake of over 50 per cent in the Delhi-based mortgage lender. READ MORE

10:23 AM

MARKET VIEW | Time to exercise safety & caution

The Fed's latest statement, though only mildly hawkish, appears to be impacting global stock markets more seriously than thought earlier. Market volatility has spiked and more volatility is in the offing. When valuations are high, corrections can be sharp. The strengthening dollar ( Dollar Index has spiked to 92.29) is a clear emerging market negative. A lot will depend on what FIIs will do in the coming days. Also, retail investment activity has to be watched. If there is a sharp correction in the market, the mid-small caps are likely to be impacted more. There is safety in strong performing large-caps. This is the time for safety and caution.

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

10:21 AM

Recovery from intra-day lows in today's trade

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
Max Healthcare	205.00	249.95	245.50	19.76
TV18 Broadcast	40.95	46.65	45.55	11.23
SpiceJet	67.95	75.65	75.50	11.11
Jai Corp	136.50	155.00	151.45	10.95

10:13 AM

MARKET UPDATE :: Sensex off day's low, reclaims 52K

10:11 AM

HUL stock hits 52-week high in a weak market amid demand recovery hopes

Shares of Hindustan Unilever hit a fresh 52-week high of Rs 2,522.25, up nearly 2 per cent on the BSE, in intra-day trade on Monday after the management said the outlook from June’21 onwards is likely to stay positive, barring the emergence of a third Covid-19 wave. The stock of the fast moving consumer goods (FMCG) giant, which was trading higher for the fifth straight day, surpassed its previous high of Rs 2,504.30, touched on April 13, 2021. READ MORE

10:07 AM

Rupee opening

Rupee opens weaker at 74.23/$ vs Friday's close of 73.86 against the US dollar

10:00 AM

Bandhan Bank up 7% as Assam govt inks pact with MFIs for stress borrowers

Also, as an incentive to good borrowers who did not default, the government will repay for each account Rs 25,000, or the loan amount, whichever is lower, to the MFIs. The total cost for the government will be a maximum of Rs 8,250 crore. The agreement was inked with Micro Finance Institutions Network (MFIN), the Business Standard reported.  READ MORE

9:49 AM

NEWS ALERT :: PNB moves SAT against Sebi order

>> In a rare regulatory move, Sebi had restrained PNB Housing Finance from going ahead with shareholders' voting on the proposed Rs 4,000 crore-deal with Carlyle group and directed the company to carry out the valuation process as per the relevant legal provisions.

 

9:44 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
Vodafone Idea	10.15	-2.03	23310405
Suzlon Energy	7.53	0.27	4390118
TCS	3283.95	-0.40	1422499
Kotak Mah. Bank	1745.90	-0.83	1395942
B H E L	62.85	-2.26	1247377

9:38 AM

Phillips Carbon up 1%

The company has commissioned 8 MW power plant at Mundra, in Gujarat.

9:32 AM

Srei Infra rallies 6% in a weak market

Srei Equipment Finance, subsdiary of Srei Infrastructure Finance, on Saturday said it has received investment interest of Rs 2,000 crore from US-based Arena Investors LP (Arena) led consortium. A day earlier, the company had received a Rs 2,200 crore investment proposal from Singapore based Makara Capital Partners Pte Ltd (Makara).

9:31 AM

Centrum Capital hits 52-week high on RBI's nod to Group to take over PMC Bank

Diversified financial services player Centrum Group on Friday said it has received an in-principle approval from the Reserve Bank of India (RBI) to take over the troubled cooperative lender PMC Bank and re-launch it as a small finance bank.