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.

10:40 AM

Q&A | Hard to make a case for a material upside in this market: Saion Mukherjee

We expect high volatility in the markets in 2021. The economic recovery in India and the rest of the world has been strong. Hopefully, with the rollout of vaccines globally, the Covid-19 pandemic will be largely behind in the coming quarters.The surge in commodity prices can adversely impact earnings in certain pockets and higher bond yields will limit any material expansion in valuation multiples. Therefore, despite improving fundamentals, it is hard to make a case for a material upside in the market. READ FULL INTERVIEW HERE

10:31 AM

Oil & Gas shares rally; ONGC, Gail surge up to 7%, hit 52-week highs

Shares of oil & gas companies were in focus on Monday after Brent crude prices hit their highest level since January, 2020. Besides, amid improved outlook and expectation of higher crude oil prices going forward, Oil and Natural Gas Corporation (ONGC) and Gail (India) surged up to 7 per cent and hit their respective 52-week highs on the BSE in the intra-day trade. READ MORE

10:22 AM

Easy Trip IPO opens today: All you must know before hitting subscribe

The three-day initial public offer (IPO) by Easy Trip Planners (ETP), an online travel agency, is slated to open on March 8. The issue has been priced in the band of Rs 186-187 per share and is entirely an offer for sale (OFS). At the upper price band, the total issue size stands at Rs 510 crore. The company will not receive any proceeds from this offer as the prime purpose of the issue is to enhance visibility, brand, provide liquidity to existing shareholders and achieve benefits of listing shares on exchanges. READ MORE

10:10 AM

NEWS ALERT :: Natco Pharma receives final approval for Everolimus tablets for the US market

>> Natco Pharma Limited announced that its marketing partner, Breckenridge Pharmaceutical Inc. (BPI), has received final approval for its Abbreviated New Drug Application (ANDA) for Everolimus Tablets (generic for Afinitor) from the US Food and Drug Administration (USFDA).

 

>> NATCO's partner BPI plans to launch 2.5 mg, 5 mg and 7.5 mg strengths of the product shortly within the next few weeks. The launch date of 10 mg strength of the product will be announced at a later date.

 

>> The above strengths of Everolimus are indicated in the treatment of breast cancer and a few other types of cancers.

 

>> As per ind ustry sales data, Afinitor and its therapeutic equivalents had generated annual sales of $712 million in USA during the twelve months ending December 2020.

10:00 AM

Top gainers on the BSE at this hour

Company	PRICE(rs)	CHG(%)
BEML Ltd	1317.00	12.38
I O B	17.60	10.00
Bank Of Maha	24.05	9.82
Just Dial	939.50	7.25
Bank Of India	82.50	7.21

9:55 AM

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

Three factors weigh on market sentiments presently: US bond yields, dollar index and crude. All the three firmed up last Friday impacting sentiments. The combined FII, DII cash market selling ( above Rs 3000 cr on last Friday) reflected the market's concern. Brent crude rising beyond $71 is a macro concern for India. But rising US bond yield and dollar index, though a concern, need not be a market impacting move provided growth recovery keeps up pace. The latest job data from the US indicates that the US economy is bouncing back. In India, too, the growth and earnings data are set to improve. These positive trends can sustain market buoyancy provided the bond yield doesn't spike sharply.

9:49 AM

BEML surges 13% as report suggests Tata, Mahindra eyeing stake in firm

Shares of BEML surged 13 per cent to hit a 52-week high of Rs 1,326 on the BSE in intra-day trade on Monday amid reports that at least six companies, including Tata Motors, Mahindra and Mahindra and Ashok Leyland, are looking to buy a 26 per cent stake in the state-run defence equipment maker. Bharat Forge and Megha Engineering and Infrastructure may also submit expressions of interest for the government’s stake in BEML, the Mint reported quoting two people aware of the developments. READ MORE

9:40 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)
Vodafone Idea	10.73	1.71
I O B	17.60	10.00
Bank Of Maha	23.85	8.90
Suzlon Energy	5.74	3.05
Adani Power	78.15	4.97

9:33 AM

Indian Bank gains over 2%

>> State-owned Indian Bank on Friday said it will divest stake in joint venture entity ASREC (India) Ltd as part of asset monetisation exercise. The bank holds a 38.26 per cent stake in ASREC (India) Ltd.

9:31 AM

BUZZING :: Bank of India soars 7%

9:29 AM

Cipla trades about a per cent higher

>> Drug major Cipla, on Saturday, said it has voluntarily liquidated a wholly-owned step-down subsidiary. This liquidation was a part of internal reorganisation and it will not affect performance or revenue of the company, Cipla said

9:27 AM

Adani Ports up 1.7%

>> The company will issue up to 1 crore equity shares of face value of Rs 2 each to Windy Lakeside Investments on a preferential basis. The allottment will be done at a price of Rs 800 per share, which is a 6.7 per cent premium to Friday's closing price.

9:25 AM

Just Dial leaps 7% on positive news flow

>> The company has signed an advertising agreement with Star India for advertising as Co-presenting Sponsor for the Indian Premier League.

>> In another development, media reports suggest Tata Digital, the digital arm of the salt-to-software services conglomerate, has held exploratory talks with Just Dial to strike a strategic alliance or pick up stake, as part of the Mumbai-based group’s push to enter the e-commerce space.

 

9:22 AM

Aarti Drugs zooms nearly 6% on PLI boost

>> Aarti Specialty Chemicals (ASCL), a wholly-owned subsidiary of the company, gets an approval accorded under the Production Linked Incentive (PLI) Scheme for the pharma sector.

9:20 AM

Sectoral trends on NSE :: Metal, PSB stocks charge ahead