Autos, RIL set-off losses in banks; Sensex dips 20 pts, Nifty holds 15,100

The broader markets, however, bucked the trend and ended higher today. The S&P BSE MidCap and SmallCap indices added 0.7 per cent and 0.4 per cent, respectively at close

9:30 AM

Burger King India slides 3% on Rs 29 cr loss in Q3

>> The company's net loss widened to Rs 29 crore against Rs 21.7 crore posted in the same period last year. Meanwhile, the revenues were down 28 per cent YoY at Rs 163.1 crore.

9:29 AM

Result reaction :: Berger Paints up nearly 2%

>> The firm's Q3 profit jumped 51 per cent YoY to Rs 274.8 crore against Rs 182.3 crore posted in the same period last year.

9:26 AM

Glenmark Pharma trades flat in a volatile market

>>  The firm on Tuesday said its board will meet later this week to consider buyback of its Singapore-listed foreign currency convertible bonds.

9:24 AM

InterGlobe Aviation up half a per cent

>> The parent company of the country's largest airline IndiGo has settled with Sebi a case of alleged corporate governance lapses and listing norms violations that were raised by the company's co-promoter Rakesh Gangwal. Meanwhile, the company appointed Jiten Chopra as its chief financial officer (CFO), effective February 21, 2021.

9:23 AM

Tata Steel up 2% on turning profitable in Q3

>> The firm reported a consolidated net profit of Rs 3,698 crore in the December quarter as against a loss of Rs 1,029 crore in the corresponding period last year on the back of increased revenue, which was aided by both higher steel prices and volumes.

9:21 AM

Sectoral trends on NSE :: Metal counters outperform markets

9:19 AM

Sensex Heatmap :: L&T, Infosys take back-seat; Asian Paints, UltraTech Cement top gainers

9:18 AM

Opening Bell :: Nifty tests 15,150

9:17 AM

Opening Bell :: Sensex up 100 pts

9:09 AM

Commodity Heatmap

9:06 AM

Top gainers and losers on S&P BSE Sensex at Pre-open

9:04 AM

Markets at Pre-open

9:03 AM

Markets at Pre-open

8:57 AM

BROKERAGE VIEW :: MOFSL on BPCL

CMP: Rs 419 | TP: Rs 419 | Reco: Neutral

>> BPCL posted better-than-expected profitability driven by better than expected marketing margin. The latter has continued to counterpoise the weaker refining margin for the last couple of quarters now.

>> BPCL privatization: Further advice from DIPAM is awaited. The company is ready with its preliminary assessment. While NRL’s divestment is likely to be completed by FY21-end, BPCL is likely to acquire Oman Oil’s stake in BORL soon. The assessment of the EOIs submitted is ongoing

8:54 AM

BROKERAGE VIEW :: MOFSL on Max Financials

CMP: Rs 738 | TP: Rs 860 (+17%) | Reco: Buy

>> MAX Life Insurance (MAXLIFE) has demonstrated a resilient performance amid a challenging macro environment, with 21% APE growth, led by robust growth in Non-PAR savings and a recovery in ULIP. After witnessing robust Protection growth over 1HFY21, the same has moderated during 3Q. Shareholders’ PAT grew at 43% YoY during 3QFY21.

>> Absolute VNB growth stood robust (65% YoY), led by a VNB margin of 28.6%. This has been supported by robust trends in Non-PAR savings and cost improvement. Strong push via the bancassurance channel has aided premium growth, while proprietary channel is also showing a recovery.

>> We expect 16% CAGR in APE growth over FY20-23E, while VNB margin remains ~24%. This would enable 21% VNB CAGR over FY20-23E, while operating RoEV sustains ~20%. Maintain Buy.