Bears return to D-Street after 3 days; Sensex tanks 598 pts, ends below 51K

2:18 PM

Rising US yields knock European stocks, miners slump

European stocks fell on Thursday after three straight sessions of gains as a jump in U.S. bond yields knocked risk appetite globally, with heavyweight miners and travel stocks leading the retreat. The pan-European STOXX 600 index fell 0.5% in early trading, with miners dropping 2.8% and travel & leisure stocks down 1.6%.

 

(Source: Reuters)

2:15 PM

NEWS FLASH :: EPFO maintains interest rate at 8.5% for FY21, say sources

> EPFO stands for Employees' Provident Fund Organisation

2:04 PM

NEWS ALERT :: Delhi HC directs SII, Bharat Bio to disclose capacity to manufacture Covaxin, Covishield

1:57 PM

SECTOR WATCH:: Cement stocks trade largely higher in an otherwise weak market

COMPANY NAME	LATEST	HIGH	LOW	CHG(%)
Udaipur Cement	23.00	23.25	22.25	2.91
Shiva Cement	21.10	21.30	20.70	-0.24
Ambuja Cements	284.80	285.05	278.85	0.98
Sanghi Industrie	44.65	45.10	42.40	2.06

1:45 PM

IRCTC's shares pick up speed on marked revival in travel activity

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) are up almost 30 per cent since the start of February as investors are betting on the easing of Covid-19 related restrictions and a pickup in vaccination drive to boost travel activity. The stock made a 52-week of Rs 1,989 on Tuesday, and last traded at Rs 1,884.35 on Wednesday on the BSE. The government-owned railways' catering and ticketing company had seen business come to a halt as train operations were severely impacted in the first half of the ongoing fiscal due to the outbreak of Covid-19 and lockdowns. READ MORE

1:35 PM

A few things the RBI should be mindful of before issuing own bonds

In view of the huge liquidity inflows into Indian markets, authors of the Report on Currency and Finance (RCF) that was published by Reserve Bank of India last week have an interesting proposal to manage the influx. RBI should be able to issue its own bonds to mop up the excess liquidity, the report argued. Globally this is not new, as many global central banks like those in Switzerland, Japan and Sweden issued their own bonds to absorb liquidity in the aftermath of the global financial crisis. READ MORE

1:24 PM

BUZZING STOCK:: BHEL zooms 8% in an otherwise weak market

1:04 PM

Recovery from intra-day lows in today's trade

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
Adani Power	62.40	71.40	71.40	14.42
Indbull.RealEst.	101.10	119.35	115.00	13.75
APL Apollo Tubes	1133.00	1293.00	1287.95	13.68
Ujjivan Small	33.10	38.35	36.95	11.63

12:54 PM

Adani Ports surges 5% as Co set to acquire stake in Gangavaram Port

Shares of Adani Ports and Special Economic Zone (APSEZ), on Thursday, rallied 6 per cent to hit a new high of Rs 765.70 on the BSE in intra-day trade after the company said it acquiring 31.5 per cent stake held by Warburg Pincus - in Gangavaram Port (GPL) for a consideration of Rs 1,954 crore. GPL is located in the northern part of Andhra Pradesh next to Vizag Port. It is the second largest non major port in Andhra Pradesh with a 64 MMT capacity established under concession from Government of Andhra Pradesh (GoAP) that extends till 2059. READ MORE

12:52 PM

Japanese Yen near seven-month low, Asian shares fall as bond yields rise

The Japanese yen hit a seven-month low on the dollar on Thursday as hopes that vaccine distribution and more government stimulus will drive the U.S. economy into a solid rebound lifted the greenback and benchmark Treasury yields.

 

But the creep up in benchmark yields may weigh on Asian stocks, as wary investors recall last week's sell-off in government bonds that caused yields to spike, spooking equity markets and causing shares to tumble. READ MORE

12:36 PM

BUZZING STOCK :: Ion Exchange slips for 2nd day, sheds over 5%

> Ace investor Rakesh Radheyshyam Jhunjhunwala and his firm Rare Investments offloaded stake worth Rs 65 crore in the company on Tuesday.

12:32 PM

Ind-Ra revises PNB Housing Finance's NCDs to negative

India Ratings and Research (Ind-Ra) has revised the outlook on PNB Housing Finance's (PNBHF's) non-convertible debentures (NCDs) to negative from stable while affirming the rating at AA.

 

The size of issue is Rs 15,517 crore, down from Rs 21,897 crore earlier. READ MORE
 

12:22 PM

IRCTC hits all-time high; stock rallies 32% in a month on improved outlook

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) hit an all-time high of Rs 2,015, up 7 per cent on the BSE in the intra-day trade on Thursday, as analysts remain bullish on the counter. The stock of the government-owned railways' catering and ticketing company, which surpassed its previous high of Rs 1,995, touched on February 25, 2020, has appreciated by 32 per cent over the past one month as compared to less than 1 per cent gain the S&P BSE Sensex. READ MORE

12:12 PM

Upside for Tata Communications hinges on data growth, esp newer segments

After falling 14 per cent on lower than expected results in the December quarter, the stock of Tata Communications more than erased the losses gaining 26 per cent since then. Half of those gains came in the last two trading sessions due to an increase in target price.

 

The triggers being land bank monetisation and robust growth in data services. With the government looking to offload its 26 per cent stake in the company through an offer for sale, the company will have the option to monetise the 756 acres of surplus land across the country. READ MORE

12:01 PM

Nifty at 15,000: Should you stay bullish and look for opportunities?

The bears made a comeback on Dalal Street, reminding investors of last week's drubbing, when the markets opened for trade on Thursday as concerns over spike in bond yields rekindled. The domestic markets, in the first three sessions of this week, had managed to recoup all losses sustained in Friday's session and were eyeing the all-time high levels on the back of strong macroeconomic data and stabilisation of bond yields. But come Thursday, the US bond yields which have become influential on stock prices, globally, spiked to 1.48 per cent, resulting in a 900-point crash on Sensex and pushing Nifty below 15,000. READ MORE