Rising bond yields, Covid-19 cases spoil D-St party; Sensex slides 487 pts

Sectorally, all the NSE indices were painted red with the Nifty Auto and PSU Bank indices down around 2 per cent each

12:07 PM

High valuation vs growth prospects: Should you bid for Anupam Rasayan IPO?

The euphoria in the primary market is showing no signs of abating as the eleventh initial public offer (IPO) for the calendar year 2021 hit the Street today. The issue of Anupam Rasayan, a speciality chemicals firm, will run between March 12 and March 16. The company plans to raise Rs 760 crore at the upper price band. The IPO, which is entirely an issue of fresh shares, is priced in the range of Rs 553-555 per share and investors can bid for a minimum of 27 shares and in multiples thereof. The company plans to utilise the proceeds for repayment of Rs 564 crore debt and the remaining for general corporate purposes. READ MORE

11:54 AM

Investors continue to be bullish on gold ETFs; invest Rs 491 crore in Feb

Investors pumped Rs 491 crore in gold exchange-traded funds (ETFs) in February as they seem be taking advantage of the lower domestic prices caused due to declining international rates, appreciating rupee and reduction in custom duty. This came following a net investment of Rs 625 crore in January and Rs 431 crore in December. Prior to this, gold ETFs had seen an outflow of Rs 141 crore in November, Association of Mutual Funds in India data showed. Continuing flows in gold ETFs further indicate increased acceptance of these efficient forms of owning gold. READ MORE

11:41 AM

IEX soars 13%, hits new high on pact with NSE & ONGC to build gas markets

Shares of Indian Energy Exchange (IEX), on Friday, advanced 13 per cent to hit a new high of Rs 347.80 on the BSE in intra-day trade after the company entered into strategic partnership with the National Stock Exchange (NSE) of India and Oil and Natural Gas Corporation (ONGC) to build gas markets. The stock surpassed its previous high of Rs 322.85, touched on February 11, 2021. In the past three months, it rallied 60 per cent, against 12 per cent rise in the S&P BSE Sensex. READ MORE

11:29 AM

SIP closures rise to highest in February as investors see dull return

The number of systematic investment plans (SIPs) closed rose to 789,000 in February: the highest this financial year. New registrations in February stood at 1.49 million as compared to 1.64 million in January.

 

Market players said dull returns in three years could have prompted some investors to close their accounts. “Many investors had started investing in small cap schemes through SIPs three years ago, but even with the markets at elevated levels they have earned returns only in single digits.  READ MORE

11:15 AM

Close-ended equity funds bet on economy reviving, now disappoint investors

Close-ended equity funds, launched with fanfare three years ago, have disappointed investors with their dull returns. The data from Value Research shows 10 out of 17 close-ended schemes maturing before July have seen one-year returns between 34 and 40 per cent. In comparison, the Sensex Total Return Index (TRI) has rallied 46 per cent over the past one year. READ MORE
 

11:01 AM

Corporate Action :: The Ramco Cements Board approves interim dividend of Rs 3 per share

>> The Record Date for payment of the Interim Dividend is 23rd March 2021 (Tuesday). The dividend will be paid to members of the company on or after 24.03.2021

10:54 AM

NITI Aayog submits first list of about 12 PSUs for privatisation

The government has kicked off its privatisation drive, with the NITI Aayog, a body headed by the prime minister, submitting its first list of about 12 public sector undertakings (PSUs) to be privatised. The organisation has submitted the list comprising PSUs in strategic sectors, which will be considered by the Department of Investment and Public Asset Management (DIPAM), and the Core Group of Secretaries on Divestment (CGD), headed by the cabinet secretary, said a top government official. READ MORE

10:44 AM

Prestige Estates completes phase 1 of Blackstone deal; stock hits new peak

Shares of Prestige Estates Projects jumped 4 per cent and hit an intra-day high of Rs 302.50 on the BSE on Friday after the company said it has completed phase I of its Rs 9,160-crore deal with Blackstone Group at Rs 7,467 crore. The stock of the real-estate company is trading close to its 52-week high level of Rs 314.95, touched on February 18, 2021. READ MORE

10:35 AM

Top gainers on the BSE at this hour

Company	PRICE(rs)	CHG(%)
IDBI Bank	43.00	12.42
Welspun India	80.45	8.28
Delta Corp	185.65	7.16
JM Financial	100.80	6.55
IFCI	15.21	6.14

10:25 AM

Investors should be prepared for biggest inflation scare since 1980s: Wood

Investors should be prepared for the biggest inflation scare since the 1980s, warned Christopher Wood, global head of equity strategy at Jefferies in his weekly note to investors, GREED & fear. “For now investors should be prepared for the biggest inflation scare since the early 1980s, and wait to see how the (US) Fed reacts. In the meantime, Treasury bonds are likely to sell off more, and cyclical stocks rally more, before any such tapering scare,” Wood said. READ MORE

10:15 AM

Dixon Tech hits record high ahead of stock split; up 609% from Mar'20 low

Shares of Dixon Technologies hit a record high of Rs 20,564, up 2.4 per cent on the BSE in the intra-day trade on Friday, having gained 8 per cent in the past three trading days, after the company fixed March 19, 2021 as the record date for 1:5 stock split i.e. from Rs 10 to Rs 2. The stock of the consumer electronics company surpassed its previous high of Rs 20,440 on February 25, 2021. READ MORE

10:04 AM

Rupee Opening

>> Rupee opens stronger at 72.67 per US dollar vs Wednesday's close of 72.91/$

9:58 AM

MARKET VIEW | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The 'risk on' in global equity markets got another push with the passage of the US $1.9 trillion fiscal stimulus. Nifty is again likely to reach record highs since SGX Nifty is indicating 15400 levels. IT has been leading this leg of the rally. Now financials may catch up. Buy on dips' has been a successful strategy so far. Now, since markets have run too much, at around 15400 Nifty, it is better to take a pause rather than buy. Partial profit booking also may be considered. The market has high resilience and the momentum is favourable but valuations and risks are high.

9:56 AM

SECTOR WATCH:: Metal stocks in focus

9:45 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)
IDBI Bank	42.80	11.90
Vodafone Idea	10.43	1.16
IFCI	15.23	6.28
Adani Power	74.10	-4.88
SBI Life Insuran	922.95	-1.81