Sensex slips for 3rd day, drops 379 pts, Nifty defends 15,100; ONGC up 8%

Sectorally, the Nifty PSU Bank index jumped another 5.6 per cent today, while the Nifty CPSE and Energy indices settled up to 4 per cent higher

1:02 PM

Even as Sensex tanks 300 points, advance-decline ratio favours buyers

12:47 PM

Asian investors cautious about Indian equities on high valuations

Citing its conversation with 50 foreign institutional investors (FIIs) based in Hong Kong, Singapore, the US and the UK in the past three weeks, UBS Securities India said investors in the UK and the US remain optimistic about India.

 

The report comes at a time when concerns are being expressed about the long rally in equities since April last year, which has seen gains of over 80 per cent on the benchmarks. READ MORE

12:31 PM

Dr Reddy's launches Fluphenazine Hydrochloride tablets in US

Drug major Dr Reddy's Laboratories on Thursday said it has launched Fluphenazine Hydrochloride tablets, used for management of manifestations of psychotic disorders, in the US market. The product is a therapeutic equivalent generic version of Prolixin tablets approved by the US Food and Drug Administration (USFDA).

 

(Text Source: PTI)

12:25 PM

These 14 stocks have risen over 50% in Feb so far; charts show more upside

Nearly 67 stocks in the Nifty500 index have surged over 25 per cent in the current month of February, so far. In the last 14 sessions, these stocks have shown tremendous strength and momentum with market participants getting aggressively active. These stocks are also witnessing a sharp increase in volumes as compared to the previous month. READ MORE

12:17 PM

New India Assurance, GIC Re hit 20% upper circuit on privatization buzz

Shares of two listed state-owned insurance companies, New India Assurance Company (Rs 164.20) and General Insurance Corporation of India or GIC Re (Rs 170.90), were locked in the upper circuit of 20 per cent on the BSE on Thursday on report that the government is considering privatisation of United India Insurance and General Insurance Corporation. READ MORE

12:05 PM

World's $281 trillion debt pile set to rise again in 2021, says IIF

Governments, companies and households raised $24 trillion last year to offset the pandemic’s economic toll, bringing the global debt total to an all-time high of $281 trillion by the end of 2020, or more than 355 per cent of global GDP, according to the Institute of International Finance. They may have little choice but to keep borrowing in 2021, said Washington-based director of sustainability research Emre Tiftik and economist Khadija Mahmood. READ MORE

11:54 AM

Nestle India's investors may have to take a break on muted Q4 show

Shares of Nestlé India declined by 5 per cent in intra-day trade on Wednesday after the coffee to ready-to-cook foods company’s operational performance in the December-ended quarter (Q4) missed street expectations. It recovered some of the losses and ended the trading session with a cut of 2.8 per cent, but analysts say the near-term outlook for the stock appears unexciting. READ MORE

11:44 AM

Q&A | 'Broking industry offers enough for all players to grow and be profitable'

Retail investors have been a major driver of markets in the past few months besides foreign institutional investors (FIIs).

 

DINESH THAKKAR, chairman and managing director, Angel Broking – the fourth largest broking house in India – tells Puneet Wadhwa in an interview that equity penetration in the country is at a very nascent stage, and there is still huge untapped potential available for growth. READ FULL INTERVIEW HERE

11:34 AM

Morgan Stanley believes SBI is well-placed to capitalise cyclical lift

The shares hit a fresh lifetime high of Rs 426 on the BSE, up 3.5 per cent in the intra-day trade today. The stock has zoomed 50 per cent so far in the current calendar year, and 46 per cent alone in the month of February. In comparison, the S&P BSE Sensex and Bankex index have gained 8.2 per cent and 16.1 per cent, respectively so far in CY21. READ MORE

11:22 AM

MARKET UPDATE:: Sensex slips into the red

11:12 AM

IPO Update :: RailTel IPO subscribed 7.5 times on Day 3 so far

Total bids received so far - 46,14,47,555

Issue size - 6,11,95,923

11:00 AM

Oil and gas shares rally as PM says govt plans to spend Rs 7.5 trn on infra

Shares of oil and gas companies advanced up to 18 per cent in intra-day trade on the BSE on Thursday after Prime Minister Narendra Modi said the government is planning to invest Rs 7.5 trillion to build oil and gas infrastructure over the next five years. Shares of Gujarat Gas zoomed 18 per cent to Rs 527, followed by Gujarat State Petronet (11 per cent to Rs 266), Indraprastha Gas (9 per cent to Rs 595), Mahanagar Gas (7 per cent at Rs 1,229) and Gail (India) and Oil and Natural Gas Corporation (ONGC) by 5 per cent at Rs 142 and Rs 107, respectively. READ MORE

10:51 AM

Dish TV jumps 6% as board approves raising up to Rs 1,000 crore

Shares of Dish TV India jumped 6 per cent to hit an intra-day high of Rs 12.60 on the BSE in Thursday's session after the company's board approved raising funds of up to Rs 1,000 crore. With today's gains, the stock has risen 9 per cent in the last two days. The scrip, however, pared some gains and was trading 3.36 per cent up at Rs 12.29 on the BSE in late morning session as against a 0.05 per cent rise in the S&P BSE Sensex. READ HERE

10:42 AM

TCNS Clothing surges 26% in 2 days after Nalanda Fund buys 7% stake

TCNS Clothing shares, on Thursday, rallied 15 per cent to Rs 510 in intra-day trade on the National Stock Exchange (NSE), surging 26 per cent in two days, after Nalanda Fund acquired 7 per cent stake in the company, via open market, for Rs 178 crore. On Wednesday, February 18, Nalanda India Equity Fund bought 4.32 million equity shares, representing 7.02 per cent stake in TCNS Clothing, though block deals, the exchange data shows. The foreign portfolio investors acquired shares at an average price of Rs 412.31 per share. READ MORE

10:28 AM

IndiaMART InterMESH shares surge 8% after launch of QIP issue

Shares of IndiaMART InterMESH, on Thursday, surged up over 8 per cent to Rs 9,298.90 in intra-day deals on the BSE after the company launched its qualified institutional placement (QIP) issue in order to raise funds. In an exchange filing on Wednesday, the company said, "The Fund Raise Committee of the Board ("Committee"), at its meeting held on February 17,2021, has decided to open the Issue today i.e. February 17, 2021, for receiving bids". The floor price of the issue is set at Rs 9,065.61 per share, a 5.92 per cent premium to Wednesday's closing price, it said. READ MORE