PSBs, IT stocks lift Nifty to record closing of 15,338; Sensex up 98 pts

Shree Cement, SBI, Bajaj Auto, Kotak Bank, Tech Mahindra, Ultratech Cement, Axis Bank, and Tata Steel were the top large-cap gainers

3:15 PM

MARCH QUARTER RESULTS | Infibeam profit rises 94% QoQ at Rs 33.7 crore

-- Revenue slips 11.6% QoQ at Rs 201.3 crore

-- Ebitda dips 5.9% QoQ at Rs 36 crore

3:12 PM

SECTOR WATCH:: PSU banks extend gains

3:04 PM

Revival of pvt consumption, investment key for post-Covid growth: RBI

Amid uncertainties arising out of the second wave of COVID-19, the Reserve Bank on Thursday said that a durable revival of private consumption and investment would be critical for sustaining economic growth post-pandemic. Observing that 2020-21 has left a scar on the economy, RBI in its annual report said, "in the midst of the second wave as 2021-22 commences, pervasive despair is being lifted by cautious optimism built up by vaccination drives." READ MORE

2:54 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:54 PM

HSBC withdraws from US retail banking to target rich clients, Asia

HSBC Holdings Plc exited its US domestic mass market retail banking business, agreeing to sell 90 branches, as Europe’s biggest lender looks to focus on wealthy clients and steer billions of dollars in capital towards Asia.

 

The London-based bank will retain a network of 20 to 25 locations that will be transformed into international wealth centers, according to a statement. It’s closing 35 to 40 other branches. The bank expects a pretax cost of $100 million from the transactions. READ MORE

2:45 PM

Nifty sectoral indices at this hour

2:36 PM

Sensex back in the red

2:25 PM

Reliance Infrastructure nears 2-year high; stock zooms 103% in a month

The stock of the electric utilities company was trading at its highest level since June 2019. It was trading higher for the fifth straight day. Till 01:18 pm, a combined 14.2 million equity shares had changed hands and there were pending buy orders for 1.55 million shares on the NSE and BSE. It had hit an all-time low of Rs 8.65 in March 2020 and a record high of Rs 2,632 in January 2008. READ MORE

2:13 PM

Near term headwinds for REITs on FY22 lease expiry, weak demand

Listed real estate investment trusts or REITs have been underperforming their peers in the real estate space over the past year on worries of falling occupancies, increasing lease expiries and lower new leases and its impact on revenues. The stock of the largest listed player in this space, Embassy Office Parks REIT (Embassy) is down 4 per cent while the BSE Realty has more than doubled investor value (106 per cent) since May last year. READ MORE

2:01 PM

BSE SME likely to see more than 60 listing in one year, shows data

More than 60 small and medium enterprises (SMEs) are expected to tap the market in one year to raise equity funds for supporting their business requirements, a BSE top official said on Wednesday.

 

These companies will get listed on the exchange's SME platform, Ajay Thakur, head of BSE SME and Startup told PTI. Last year, only 16 SMEs had tapped the IPO route and raised Rs 100 crore. READ MORE

1:49 PM

Paytm said to target $3-billion IPO, largest ever for India: Report

Paytm, India’s leading digital payments provider, is aiming to raise about Rs 21,800 crore ($3 billion) in an initial public offering late this year, according to a person familiar with the deal, in what could be the country’s largest debut ever. The startup, backed by investors including Berkshire Hathaway Inc., SoftBank Group Corp. and Ant Group Co., plans to list in India around November and its offering could coincide with the Diwali festival season, said the person, asking not to be named because the details are private. Paytm, formally called One97 Communications Ltd., is targeting a valuation of around $25 billion to $30 billion. READ MORE

1:37 PM

RBI's forex gains enabled it to give Rs 1-trillion dividend to govt

The Reserve Bank of India (RBI) managed to repatriate nearly a trillion rupees in dividend to the government by booking hefty gains in foreign exchange transactions and by drastically cutting down provisions and other costs, said the regulator’s annual report on Thursday. The report concerns nine months ended March 31, 2021 as the RBI changed its accounting year from July-June to April-March from 2020-21. The numbers are curtailed, but the amount of dividend paid of Rs 99,122 crore was 73.51 per cent higher than 2019-20's full year dividend of Rs 57,127.53 crore. READ MORE

1:27 PM

March Quarter Results :: Cadila Health declares dividend of Rs 3.5/share

>> PAT: Rs 679 crore

>> Revenue: Rs 3,846.7 crore

>> Ebitda: Rs 855 crore

>> Ebitda margin: 22.2%

1:21 PM

IPO Alert :: PayTM eyeing India's biggest initial public offer

1:14 PM

GSK says it aims to bring FDA-approved antibody therapy to India for Covid

Britain’s GlaxoSmithKline (GSK) and Nasdaq-listed Vir Biotechnology have won the US drug regulator’s approval for a drug to treat mild and moderate Covid-19 patients older than 12.

 

A spokesperson for GSK India said that the company was exploring options to make Sotrovimab, an "important medicine", available for Indian patients quickly. The spokesperson did not comment on possible pricing of the product that will be available in the US in weeks. “Discussions with global regulators regarding authorisations in additional countries continue to advance,” GSK said. READ MORE