Sensex gains 257 pts, ends above 49K; Nifty holds 14,800; Nifty Metal up 5%

Tata Steel, Hindalco, JSW Steel, Adani Ports, SBI Life, M&M, and HDFC were the top Nifty gainers

1:39 PM

SECTOR WATCH :: Nifty PSU Bank index worst sectoral performer

1:35 PM

Nifty Metal index extends gain, up 4% now

1:27 PM

India to breach fiscal deficit target in FY22: Fitch Solutions

India is likely to breach its fiscal deficit target in the financial year to March 2022 mainly due to revenue shortfall, Fitch Solutions said Friday.

 

The government is targeting a deficit between revenue it earns and what it spends at 6.8 per cent of the gross domestic product (GDP) in FY22 (April 2021 to March 2022).

 

"We at Fitch Solutions forecast the Indian central government deficit to come in at 8.3 per cent of GDP in FY22," it said. READ MORE

1:19 PM

Q4 RESULTS | Steel Strips reports profit of Rs 44.6 crore as compared to loss of Rs 5.2 crore in year-ago qtr

-- Revenue up 81% YoY at Rs 699.9 crore

-- Ebitda up 1.7 times at Rs 86.1 crore

-- Margin up 420 bps at 12.3%

1:09 PM

Tata Steel extends rally post Q4 results; stock zooms 97% since February

Shares of Tata Steel moved higher by 8 per cent to Rs 1,185, their fresh record high on the BSE, in intra-day trade on Friday. The stock has gained 11 per cent in the past two trading days after the company reported its best-ever performance across metrics such as revenue, Ebitda (earnings before interest, taxes, depreciation, and amortisation), and net profit (excluding exceptional items). READ MORE

1:02 PM

MARKET UPDATE:: S&P BSE MidCap index pares gains, turns flat

12:49 PM

Fall from intra-day high in BSE500 stocks in today's session

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
JSW Energy	139.00	116.05	116.65	-16.08
SRF	6820.00	6226.00	6249.95	-8.36
Hawkins Cookers	6000.00	5418.05	5603.05	-6.62
Navin Fluo.Intl.	3659.00	3427.25	3440.00	-5.99

12:40 PM

Amid rise in raw material costs, margin pressures to weigh on tyre stocks

The tyre sector is expected to be among the most impacted within the auto component space due to the surge in raw material costs in the March quarter. The impact is due to the rise in crude price derivatives and natural rubber costs which account for 55 per cent and 33 per cent of the raw material basket of tyre makers. While tyre companies could see sharp sequential moderation in margins in the March quarter, profitability of battery makers should hold up as the price of lead has been fairly steady, according to IIFL Research. READ MORE

12:25 PM

Tata Steel, Tata Motors: No breaks on Tata Group stocks' rally just yet

Tata Group stocks have ruled at the bourses over the past one month, outperforming the benchmark Nifty50 index by a wide margin. Tata Steel BSL, for instance, has climbed 57 per cent over the past 30 days while Tata Metaliks, Tata Steel Long Products, Tata Elxsi, Tata Steel, Tinplate Company, Tata Coffee, and Rallis India have gained between 12 per cent and 37 per cent. READ MORE

12:19 PM

MONTHLY ECONOMIC REVIEW | FIN MIN SAYS

>> 2nd wave presents a challenge to ongoing economic recovery

 

>> 2nd Covid wave poses downside risks to eco activity in Q1FY22

 

>> See reasons to witness a muted economic impact as compared to wave 1

 

>> Learning to operate with Covid-19 provides silver lining of eco resilience

 

>> Vaccination to be key to curb pandemic spread & to sustain eco recovery

 

12:16 PM

India to breach fiscal deficit target in FY22: Fitch Solutions

India is likely to breach its fiscal deficit target in the financial year to March 2022 mainly due to revenue shortfall, Fitch Solutions said Friday. The government is targeting a deficit between revenue it earns and what it spends at 6.8 per cent of the gross domestic product (GDP) in FY22 (April 2021 to March 2022). READ MORE

12:03 PM

MFs step up launches of schemes seeking to invest in foreign markets

The domestic mutual fund (MF) industry has launched a number of unique theme-based schemes seeking to invest in foreign markets. All of these schemes are so-called fund of funds (FoF). A FoF invests in other MF schemes instead of directly investing in stocks or debt instruments. Some of these include Mirae Asset NYSE FANG+ETF, which is a basket of growth stocks of next generation technology and tech-enabled companies.  READ MORE

11:53 AM

Vaibhav Global trades ex-split; stock zooms 19%, scales new high

Shares of Vaibhav Global hit an all-time high in Friday's trade after they rallied 19 per cent to Rs 1,037.90 on the BSE as investors lapped up the stock after it turned ex-split. The company has split the stock in the ratio of 1:5, i.e. equity share of face value Rs 10 has been split into five shares of face value Rs 2. The company has fixed Monday, May 10, 2021, as the record date for determining the eligibility of shareholders for split/sub-division of equity shares. READ MORE

11:46 AM

Stocks that hit 52-week high on BSE today

Company	PRICE(rs)	52 WK HIGH	CHG(%)
Aarti Industries	1757.00	1815.35	-1.62
Adani Enterp.	1299.90	1314.00	0.98
Adani Total Gas	1318.25	1350.00	1.47
Adani Transmissi	1178.60	1187.60	4.20
Ajanta Pharma	2013.20	2047.85	0.71

11:37 AM

Maharashtra, UP, Delhi getting lower vaccine doses than needed: SBI report

As the country reels under the severe impact of the second wave of Covid, key states such as Maharashtra, Uttar Pradesh (UP), Chhattisgarh and the capital city Delhi are getting lower vaccine doses than they require, suggests a latest report by State Bank of India's (SBI's) economic wing, authored by Dr. Soumya Kanti Ghosh, their group chief economic adviser. READ MORE