Sensex gains for 2nd day; ends 447 pts up at 50,297; auto, IT stocks rally

Broader markets outperformed the benchmark indices, highlighting underlying strength in the market. The S&P BSE MidCap and SmallCap indices ended 1.55 per cent & 1.6 per cent higher, respectively

3:28 PM

NEWS ALERT :: Jagran Prakashan board approves share buyback up to Rs 118 crore

3:19 PM

Auto stocks trade sharply higher

3:08 PM

Sensex Heatmap at this hour

2:53 PM

Is MTAR Tech IPO worth subscribing? All you wanted to know

The initial public offering (IPO) by MTAR Technologies, a precision engineering company, is set to hit the primary market on Wednesday, March 3. The company that manufactures critical and differentiated engineered products, primarily serves customers in the nuclear, space and defence, and clean energy sectors. The company looks to raise up to Rs 596.41 crore via a combination of fresh issue of shares worth Rs 123.51 crore and an offer for sale of Rs 472.90 crore. READ MORE

2:47 PM

SECTOR WATCH:: Paper stocks rally as China producers hike prices

-- China buys nearly 33 per cent of world's paper pulp

COMPANY NAME	LATEST	HIGH	LOW	CHG(%)
Ballarpur Inds.	1.27	1.32	1.24	0.00
Orient Paper	28.85	29.05	25.20	10.96
JK Paper	157.55	159.30	146.50	7.62
Genus Paper & Bo	7.65	7.65	6.95	8.82
Yash Pakka	83.80	84.80	79.10	3.65

2:35 PM

European markets check

(Source: Reuters)

2:35 PM

'Premature and unrealistic' to think Covid will end soon, says WHO official

A senior World Health Organization official said Monday it was premature and unrealistic to think the pandemic might be stopped by the end of the year, but that the recent arrival of effective vaccines could at least help dramatically reduce hospitalisations and death.

 

The world's singular focus right now should be to keep transmission of COVID-19 as low as possible, said Dr. Michael Ryan, director of WHO's emergencies program. READ MORE

2:25 PM

Bharti Airtel acquires 355.45 MHz spectrum for Rs 18,699 crore

"This gives Airtel the most formidable spectrum holdings in the country. Airtel has now secured pan India foot print of Sub GHz spectrum that will help improve its deep indoor and in building coverage in every urban town," the company said.

 

Airtel said the spectrum acquired through the latest auction will also help improve its coverage in villages by offering the superior experience to an additional 90 million customers in India. READ MORE

2:12 PM

NEWS ALERT :: Started talks to gauge interest from potential buyers for PSBs: FinMin Officials

>> Inputs from corporates to help select 2 target PSU banks for sale
(Source: TV Flash)

2:08 PM

NEWS ALERT :: JSPL says it's keen to acquire indebted Reliance Naval

> GMS, Kotak Fund said to also express interest in Reliance Naval 

2:00 PM

Auto sales stay in the fast lane in February, but industry cautious

India’s largest carmaker, Maruti Suzuki, on Monday reported a 9.9 per cent year-on-year (YoY) growth in domestic wholesale to 147,483 units in February. The automaker also replenished inventory at dealerships after improved sales during the December quarter (Q3). Its factory dispatches improved sequentially as well from the 142,604 units recorded in January.

 

Mahindra & Mahindra (M&M) on Monday reported an 11.38 per cent decline in total sales at 28,777 units in February. M&M had sold 32,476 units last year. Passenger vehicle sales increased 41 per cent to 15,391 units last month, as compared with 10,938 units a year ago. READ MORE

1:52 PM

Amid employee concerns, Ant says will find solution for unsellable shares

Ant Group Co. told employees it would eventually go public and promised to help those who need to monetize their shares sooner, seeking to boost morale four months after Chinese regulators torpedoed the fintech giant’s blockbuster listing. A “short-term liquidity solution” for employees will take effect in April, Ant Chairman Eric Jing said in a recent posting on the company’s internal website, according to people familiar with the matter. READ MORE

1:43 PM

NEWS ALERT :: Kirloskar Ferrous declares interim dividend of Rs 2 per share

>> The Board of Directors of the Company at its meeting held today has declared an Interim Dividend of Rs 2 per equity share for the financial year 2020- 2021.

>> The Record Date has been fixed as Saturday, 13 March 2021 for ascertaining the list of members entitled to the dividend.

>> Interim Dividend will be paid on or before 26 March 2021 through various modes of payment such as Direct Credit, NEFT, RTGS, NECS, Dividend Warrants or Demand Drafts.
 

1:35 PM

Cayman Islands' grey list tag may hurt FPI investments into India

The Cayman Islands, one of India’s richest routes for foreign investments, has been put on the grey list of countries/regions for increased monitoring by the Financial Action Task Force (FATF), an inter-governmental body that sets anti-money laundering standards. The British overseas territory is among the 15 most preferred routes for foreign portfolio investments in India, with total assets under custody worth Rs 70,000-90,000 crore. It is also the third-most preferred source of foreign direct investments into India, based on the data for the first half of FY21. READ MORE

1:24 PM

Tata Motors clocks highest-ever PV sales in 9 years in Feb 2021; stk up 5%

Shares of Tata Motors were trading at their highest level since May 2018, up 5 per cent to Rs 344.45 on the BSE, on Tuesday after the company's sales growth in the month of February outperformed sector peers across domestic commercial vehicle (CV) & passenger vehicle (PV) segments. The Tata group company reported a strong 54 per cent year-on-year (YoY) growth in domestic sales at 58,473 units in the month of February 2021. It retained the positive momentum in passenger vehicle (PV) segment and reported 119 per cent year-on-year (YoY) jumped at 27,225 units. READ MORE