Sensex adds 613 pts; Nifty ends above 15,100; MidCap index hits record peak

In the broader market space, the S&P BSE MidCap index zoomed 1.9 per cent to settle at 21,232 after hitting record peak of 21,255 levels earlier today

12:58 PM

FOREX ALERT

>> Rupee gains past 73/dollar market for the first time since March

12:49 PM

After 100% gain since Nov, can the rally in Gland Pharma stock continue?

Gland Pharma has already doubled money for those investors who picked the stock at the time of its initial public offering (IPO) in November 2020. And now, the firm's March quarter results have convinced analysts of more upside as they see growth prospects for Gland going ahead. On Tuesday, the stock hit an all-time high of Rs 3,124.75 on the BSE, up 12 per cent over its previous close, following a 34 per cent year-on-year (YoY) rise in its consolidated net profit to Rs 260.4 crore in the March 2021 quarter (Q4FY21) on robust sales. READ MORE

12:40 PM

NEWS ALERT | Federal Bank’s board approves investment of Rs 148 cr in subsidiary - FFSL - through rights issue

12:31 PM

Dish TV lenders invoke pledged shares, sell 51.1 mn shares in open market

DTH service provider Dish TV on Tuesday said lenders have invoked 5.11 crore pledged promoters' shares, following which the shareholding of the promoter group firm Direct Media Distribution Ventures Pvt Ltd has come down by 2.78 per cent. In a regulatory filing Dish TV India said "5,11,97,105 shares have been invoked by the trustee(s) on behalf of lenders to whom shares of Dish have been pledged". READ MORE

12:19 PM

Tata Motors up 3%, Tata Motors DVR hits 52-week high ahead of Q4 results

Shares of Tata Motors, on Tuesday, were up 3 per cent to Rs 332, while Tata Motors DVR (differential voting rights shares) hit a fresh 52-week high of Rs 156, up 3 per cent on the BSE in intra-day trade on Tuesday ahead of its January-March quarter (Q4FY21) earnings today. Tata Motors share hit a 52-week high of Rs 357 on March 3, 2021. READ MORE

12:08 PM

Japan's economy shrinks 5.1% during Jan-March as pandemic dries up spending

The Japanese economy contracted at an annual rate of 5.1 per cent in January-March, slammed by a plunge in spending over the coronavirus pandemic, according to government data released Tuesday.

 

The Cabinet Office's preliminary seasonally adjusted GDP, or gross domestic product, showed household consumption dropped at an annualized rate of 5.6 per cent, while government spending declined 6.9 per cent. READ MORE

12:00 PM

Elon Musk fuels Bitcoin volatility by saying Tesla hasn't sold stake

For a second week, the crypto market is being ruled by tweets from billionaire Elon Musk. The Tesla Inc chief sent Bitcoin rallying back above $45,000 on Monday after clarifying that the company hasn’t sold any holdings of the digital token. It’s the latest post to whipsaw prices across the industry and fuel speculation over just why the electric-car pioneer is issuing crypto missives on a daily basis on Twitter. READ MORE

11:49 AM

Go Air IPO puts spotlight on Wadia Group stocks. Here's a chart check

Shares of Go Air, the Wadia Group-controlled airline, may soon take flight at the bourses as the airline gears up for Rs 3,600 crore initial public offer (IPO). The budget airline has rebranded itself to become an "ultra-low-cost" airline and plans to raise funds amid the second wave of Covid-19 that has decimated travel demand. READ MORE

11:40 AM

Will Go Air's IPO initiate sector re-rating? Here's what analysts think

The Wadia-controlled ultra-low-cost airline GoAir is likely to join its peers InterGlobe Aviation (IndiGo) and SpiceJet at the bourses soon, as the airline prepares itself for the Rs 3,600-crore initial public offer (IPO). The firm’s debut on the exchanges, however, may not trigger a re-rating for incumbent players, believe analysts, who expect turbulent times for the sector in the foreseeable future coupled with high valuations. READ MORE

11:30 AM

Brokerages stay bullish on Bharti Airtel post Q4 nos, see up to 33% upside

The telecom operator reported a broadly in-line set of results with a positive surprise on the subscriber addition front offset by a marginally weaker average revenue per user (ARPU). Following the results, most brokerages retained their bullish stance on the stock, with either 'buy' or 'hold' calls. According to UBS, the impact of the second wave of Covid-19 on subscriber additions and ARPUs will be the key monitorables, going ahead. READ MORE

11:19 AM

Pharma sector's Q4 results show moderate gains amid Covid-19 pandemic

What will be the impact of the second wave and the pandemic in general on Indian pharmaceutical companies? It should lead to a rise in volumes, given that Indian companies are the world’s biggest bulk drug exporters. India exports roughly 20 per cent of the world’s generic drugs. However, at another level, Indian companies are still struggling with some supply chain issues. READ MORE

11:05 AM

Top gainers among BSE500 stocks at this hour

Company	PRICE(rs)	CHG(%)
Schneider Elect.	109.60	12.01
Gland Pharma	3013.00	7.88
Birla Corpn.	1206.00	7.79
Shilpa Medicare	548.95	7.73
M R P L	52.40	7.71

11:00 AM

Shilpa Medicare jumps 26% in 2 days on tie-up with DRL for Covid vaccine

Shares of Shilpa Medicare rose 13 per cent to Rs 574.90 on the BSE in intra-day trade on Tuesday, up 26 per cent in the past two trading days, after the company on Monday said that it has tied up with Dr. Reddy's Laboratories for production of Sputnik V, a two-dose Covid-19 vaccine. Under the agreement, SBPL will be responsible for manufacturing the vaccine, while DRL is responsible for the distribution and marketing of the vaccine in its marketing territories. READ MORE

 

10:53 AM

Here's what brokerages expect from Tata Motors' Q4FY21 results on Tuesday

According to HDFC Securities, progress on the EV platforms, especially in terms of hybrids, impact of lockdown on the near term on volumes, and impact of scrappage scheme on commercial vehicles (CVs) will be the key things to track.

 

As per the monthly sales data for April, Tata Motors sold 1.91 lakh units, up 89 per cent on a year-on-year (YoY) basis, while sequentially, volumes grew 21 per cent. In Q4FY21, the company sold 83,857 passenger vehicles (PV), and 98,967 commercial vehicles in the domestic market. It also exported 8,896 units. READ MORE

10:42 AM

Adani Green surges 10% in 2 days on report it may acquire SB Energy

Shares of Adani Green Energy were locked in the 5 per cent upper circuit band for the second straight day, at Rs 1,199.65 on the BSE on Tuesday, after a Bloomberg report suggested that the Adani Group Company is in advanced talks to acquire privately-held SB Energy Holdings Ltd. Trading volumes on the counter nearly doubled, with a combined 708,026 equity shares having changed hands on the NSE and BSE till the time of writing of this report. There were pending buy orders for around 125,000 shares on both the exchanges, data shows. READ MORE