Weak global cues, high Brent crude cap gains on D-St; Sensex ends 36 pts up

Trends among sectoral indices remained muted with the Nifty PSU Bank, Metal, and IT indices ending up to 1.5 per cent higher on the NSE.

12:53 PM

NEWS ALERT :: M&M President - Mobility Services VS Parthasarathy to step down

Mahindra & Mahindra (M&M) announced that VS Parthasarathy, President - Mobility Services Sector and Member of the Group Executive Board, has decided to leave the Group effective close of 1 st April 2021, to pursue personal interests. 

 

(Source: BSE Filing)

 

12:48 PM

Stocks that hit 52-week high on BSE today

Company	PRICE(rs)	52 WK HIGH	CHG(%)
Adani Ports	752.00	768.40	0.46
Adani Power	78.15	78.15	4.97
Adani Total Gas	715.55	748.90	2.19
APL Apollo Tubes	1361.95	1379.45	1.86
Astral Poly Tech	2306.85	2331.85	4.24

12:41 PM

IPO Update :: Easy Trip IPO sails through on Day 1, subscribed 1.04 times so far

> The IPO received bids for 1,57,57,040 shares vs the issue size of 1,50,80,644 shares

(Source: NSE)

12:30 PM

Sugar stocks in focus; Balrampur Chini, EID Parry rally up to 7%

Shares of sugar companies, on Monday, were in focus at the bourses, with Balrampur Chini Mills, EID Parry, Dwarikesh Sugar Industries, Dhampur Sugar Mills, and Dalmia Bharat Sugar and Industries rallying up to 7 per cent on improved sector outlook. In comparison, the S&P BSE Sensex was up 0.44 per cent at 50,625 points, at 11:51 am. READ MORE

12:23 PM

INTERVIEW:: Pradeep Gupta, vice-chairman and co-founder at Anand Rathi Group

"My longer-term view on the Indian equity market remains positive, but the possibility of a relatively minor market correction and considerable volatility in the near-term cannot be ruled out. With the forward-looking equity multiples being close to fair valuation, the big driver for the market from this point onwards would mainly be corporate earnings," Gupta said. READ MORE

12:20 PM

Fitch, S&P rate IRFC's proposed USD senior unsecured notes at BBB-minus

Fitch Ratings has assigned Indian Railway Finance Corporation's (IRFC's) proposed US dollar Regulation senior unsecured notes a rating of BBB-minus. The proposed notes will be issued under IRFC's existing four billion dollars global medium-term note programme. READ MORE

12:12 PM

Retail engine revs up but YES Bank has hands full on asset quality

Squashing rumours around another forced merger, the banking regulator stitched a never-seen-before rescue plan for YES Bank -- with State Bank of India (SBI) donning the promoter’s hat and seven private lenders, including ICICI Bank and HDFC Limited, swiftly infusing Rs 12,000 crore equity, helping YES Bank exit the moratorium on March 17, 2020, ahead of its one-month period.  READ MORE

12:04 PM

ONGC, IOC, GSPL: Crude hits $71; is it time to focus on oil-related stocks?

Oil-linked stocks were trading actively on the BSE, on Monday, as Brent crude futures surged above $70 a barrel for the first time since the Covid-19 pandemic began, following reports of attacks by Yemen's Houthi forces on Saudi Arabian facilities. Brent crude futures for May hit $71.38 a barrel in early Asian trade, the highest since January 8, 2020, and were at $71.11 a barrel by 0255 GMT, up $1.75, or 2.5 per cent. READ MORE

11:54 AM

Mutual funds managed by women have given better returns, shows data

The over Rs 30-trillion MF industry in India has a large male dominance. According to the data compiled by MF tracker Morningstar, the industry has 376 fund managers, but only 8 per cent, or 30, of them are female. Assets managed by women fund managers are worth Rs 4.11 trillion, about 13.5 per cent of total AUM.

 

Two dozen AMCs don’t even have a single women fund manager; only a couple have more than two. READ MORE

11:46 AM

Astral Poly jumps 5% on fixing record date for 1:3 bonus share issue

Shares of Astral Poly Technik advanced 5 per cent to Rs 2,332 on the BSE in Monday's intra-day trade after the company said it has fixed March 19 as the record date for the 1:3 bonus share issue. The stock of the plastic products manufacture surpassed its previous high of Rs 2,249.95 touched on March 2. READ MORE

11:34 AM

NEWS ALERT :: Meera Industries wins export order from Turkey

Company has won an order worth $180,000 from Monofiber Teknik Tekstil San Tic, a Turkey based firm

(Source: BSE Filing)

11:19 AM

Easy Trip Planners IPO :: Should you subscribe?

>> Easy Trip Planners Ltd. is ranked second among the Key Online Travel Agencies in India in terms of booking volume in the nine months ended December 31, 2020 and third among Key Online Travel Agencies in India in terms of gross booking revenues in Fiscal 2020.

>> The company had the highest CAGR from Fiscal 2018 to Fiscal 2020 in terms of gross booking revenue and operating revenues among the Key Online Travel Agencies in India. It’s Gross Booking Revenues increased by 51.04% from Rs 19,450.63 million in Fiscal 2018 to Rs 29,377.75 million in Fiscal 2019, and by 43.13% from Rs 29,377.75 million in Fiscal 2019 to Rs 42,047.30 million in Fiscal 2020. It’s Gross Booking Revenues amounted to Rs 12,207.57 million in the nine months ended December 31, 2020. It’s market share in the total Indian online travel agency industry in terms of gross booking revenues and gross booking revenues for airline ticketing segment was approximately 4.6%, and 5.5% to 6.5%, respectively, in Fiscal 2020.

>> At the upper end of the IPO price band, it is offered at 58.62x its FY20 earnings, with a market cap of Rs. 2032 crores. There are no listed entities in India whose business portfolio is comparable with that of its business. Given the company’s strong operating and financial performance in a highly competitive and growing industry; including strong margins, RoNW of 32.58% in FY20, strong balance sheet and management - we give this IPO a "Subscribe" rating.

(Source: Anand Rathi Shares and Stock Brokers)

11:09 AM

NEWS ALERT | India Ratings upgrades Happiest Minds' long-term issuer rating to A- from BBB+; outlook positive

10:59 AM

Bond vs Equity :: Equities are the winners in the long-term

Ultra-long term equity investments have been a lot more rewarding than debt, a study published by Credit Suisse Research Institute in collaboration with London Business School shows. “Over the last 121 years, global equities have provided an annualised real return (in dollar terms) of 5.3 per cent versus 2.1 per cent for bonds,” shows the study, which has looked at returns for 23 countries since 1900. READ MORE

10:49 AM

MARKET UPDATE:: Sensex off day's high