Indices drop for 2nd day; Sensex dips 397 pts; metals, IT gain, banks hit

Reliance Industries, HDFC Bank, ICICI Bank, HDFC, Bajaj Finance, L&T, Axis Bank, Infosys, and Asian Paints, down between 0.6 per cent and 3 per cent, dragged the indices lower today

3:24 PM

Volatility Alert

>> India VIX index cools off 2.85% to 21 levels as indices reverse losses

3:17 PM

Kotak Investment, Allianz tie up for investing in Indian pvt credit market

In February 2021, Allianz made its maiden credit investment of $150 million in KIAL’s eleventh Real Estate Debt Fund that achieved a closure of $380 million. KIAL’s Real Estate Fund primarily focuses on financing early- and late-stage real estate projects across geographies in India. Allianz’s total private credit investments in the country so far is worth about $650 million and it is looking to increase it to $1 billion in 2021, Kotak said. READ MORE

3:07 PM

Home First, Heranba, Brookfield, Nureca hit lowest levels since debut

Shares of recently listed companies, Home First Finance Company, Heranba Industries, Brookfield India Real Estate Trust REIT and Nureca hit their respective lows since listing on the bourses. These stocks were down between 2 per cent and 8 per cent on the BSE in the intra-day trade on Monday. In comparison, the S&P BSE Sensex was down 1.7 per cent at 49,925 points at 02:04 pm. READ MORE

3:05 PM

MARKET UPDATE:: Sensex off day's low

2:57 PM

SECTOR WATCH:: Nifty Metal index off day's low

2:55 PM

IPO Update :: Anupam Rasayan IPO subscribed 2 times so far

> The IPO has received 2.03 times bids

> Total bids received stood at 2,79,98,649 vs issue size of 1,37,65,099 as of 2.52 pm

2:46 PM

Vedanta's dues, rising interest rates sound trouble for Anil Agarwal

But that decades-long playbook is now being put to the test as rising borrowing costs complicate Agarwal’s efforts to clinch a buyout of the publicly traded crown jewel of his globe-spanning empire. His battle for control over Vedanta Ltd. is highlighting the risks for indebted tycoons in India and around the world as interest rates climb from historic lows and family businesses grapple with complicated holding structures. READ MORE

2:38 PM

European markets check

(Source: Reuters)

2:30 PM

Top Sensex drags at this hour

2:23 PM

Ratan Tata invests in Pritish Nandy Communications

Pritish Nandy Communications on Monday said veteran industrialist Ratan Tata has invested in the company. "Ratan Tata, Chairman Emeritus of Tata Sons and Chairman of Tata Trusts, has, in his personal capacity, acquired a stake in Pritish Nandy Communications Ltd through market purchases last week," Pritish Nandy Communications said in a regulatory filing. 

 

(Text Source: PTI)

2:12 PM

NEWS ALERT :: Alkem Labs launches Brivaracetam in India under the brand name “Brivasure"

>> Alkem Laboratories Ltd. (Alkem), one of the India’s leading pharmaceutical formulation development, manufacturing, and marketing companies, announce the launch of Brivasure, an affordable anti-epileptic drug for the treatment of Epilepsy in India.

>> Brivasure, Alkem’s anti-epileptic drug (AED) is a generic version of the parent molecule. Alkem has launched the drug in the market at price, Brivasure 25mg - Rs.79.50/strip, Brivasure 50mg - Rs. 148.50/strip, Brivasure 75mg - Rs. 230/strip, Brivasure 100mg - Rs. 295/strip, post patent expiry of innovator product, of Brivaracetam as on February 21, 2021. The drug has been approved by the Drugs Controller General of India (DCGI) in the adjunctive management of partial onset seizure with or without secondary generalization. The drug has exhibited faster onset of action, efficacy with favorable safety profile.
 

2:00 PM

This Ashish Kacholia, Vijay Kedia-owned stock zooms 115% in 3 months

Shares of Vaibhav Global hit a new high of Rs 4,513 after they rallied 8.5 per cent on the BSE in intra-day trade on Monday in an otherwise weak market. The company is an omni-channel e-retailer of fashion jewellery, accessories, and lifestyle products in developed markets with direct access to around 99 million households (FTE) through its TV home shopping networks – Shop LC in the US and Shop TJC in the UK. READ MORE

1:58 PM

IPO Update :: Laxmi Organic IPO sails through in less than 4 hours

> The IPO received 1.17 times bids as of 1.55 pm
> The issue got 3,80,32,340 bids vs issue size of 3,25,58,138 shares

(Source: NSE)

1:50 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

1:39 PM

Nifty Bank index hits over 1-month low; Bandhan, RBL Bank slip 5%

Shares of financials, including banks, were under pressure on Monday, with the Nifty Bank index, down 3 per cent, hitting an over one-month low after the Consumer Price Index (CPI) inflation hit a three-month high in February 2021, while Index of Industrial Production (IIP) recorded a contraction of 1.6 per cent in January. READ MORE