Bull run continues for 3rd day; Sensex ends 254 pts up; IT, metal stks jump

Among sectoral indices, the Nifty Metal index remained the star performer today, closing 1.8 per cent higher, followed closely by the Nifty IT index (up 1.6 per cent).

3:40 PM

Sectoral trends on NSE at Close

3:38 PM

Sensex Heatmap at Close

3:32 PM

CLOSING BELL

Amid a fall in volatility, the benchmark S&P BSE Sensex advanced 254 points, or 0.5 per cent, to end at 51,279 levels. On the NSE, the Nifty50 index ended at 15,175 levels, up 76 points or 0.51 per cent. The Sensex and the Nifty hit their respective intra-day highs of 51,430 and 15,218.

3:28 PM

Stock of this packaging firm has soared 59% in 8 trading sessions of March

Taking note of the heavy volume on the counter, the BSE sought clarification from Jindal Poly Films on March 8 with reference to significant movement in price, "in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded". The reply, however, is awaited. READ MORE

3:21 PM

NEWS ALERT :: Quick Heal Board approves share buyback of 9.85% equity

>> Buyback will be at Rs 245 per share for 63.26 lakh equity shares

>> Total buyback amount is Rs 155 crore

>> Buyback amount is at 34% premium

3:08 PM

MARKET CHECK :: S&P BSE MidCap index outruns benchmarks

2:57 PM

Graphite electrode makers in focus; Graphite India, HEG rally up to 10%

Shares of graphite electrode (GE) manufacturers, Graphite India and HEG, were in focus, surging by up to 10 per cent, on the BSE on Wednesday on expectation of the pick-up in steel production globally is expected to drive demand for GEs.  Shares of Graphite India hit a 52-week high of Rs 517.40, rallying 10 per cent on the BSE in intra-day trade on the back of heavy volumes. HEG's stock soared 9 per cent to Rs 1,635, trading close to its 52-week high of Rs 1,645.80, touched on March 3. READ MORE

2:46 PM

NEWS ALERT :: US FDA completes audit of Dr Reddy's API mfg plant in Middleburg, New York

>> US FDA has issued Form 483 with 3 observations. Co does not have any sales from plant

2:40 PM

India's retail inflation probably rose in February: Reuters poll

India's retail inflation probably rose in February as food and fuel prices went up but remained within the Reserve Bank of India's target range for a third straight month, a Reuters poll predicted. The March 5-9 poll of over 50 economists showed retail inflation climbed to 4.83% in February from January's 4.06%.

 

(Source: Reuters)

2:32 PM

ECONOMIC PULSE | Revenue deficit grant of Rs 6,194 cr released to 14 states: Govt

The union government on Wednesday released the 12th and final monthly instalment of revenue deficit grant of Rs 6,194.09 crore to the states.

 

With the release of this installment, a total amount of Rs 74,340 crore has been released to eligible states as Post Devolution Revenue Deficit Grant (PDRD) in the current financial year, the ministry of finance said in a statement. READ MORE

2:24 PM

NEWS ALERT :: Lupin launches generic version of Alinia

- Lupin today announced the launch of the authorized generic version of Alinia® (nitazoxanide) Tablets, 500 mg of Romark Laboratories, L.C. 

 

- Nitazoxanide Tablets, 500 mg (Alinia®) had estimated annual sales of $56 million in the U.S. 

 

 

 

2:15 PM

SIAM Feb Data

>> Utility vehicle sales up 45.4% YoY

>> Passenger car sales up 4.4% YoY; total passenger sales up 17.9% YoY

>> 2-W sales up 10.2%; Motocycle sales up 11.5% YoY

2:10 PM

IPO Update :: Easy Trip IPO subscribed 66 times so far; issue closes today

> As of 2.10 pm, the issue had received bids for 99,62,75,760 shares vs 1,50,80,644 shares on sale

(Source: NSE)

2:00 PM

MTNL, HMT hit fresh 52-week highs; zoom up to 78% in two weeks

Shares of two state-owned companies, Mahanagar Telephone Nigam Limited (MTNL) and HMT rallied up to 17 per cent on the BSE in intra-day trade on Wednesday, hitting their respective fresh 52-week highs, amid heavy volumes. In the past two weeks, these stocks have zoomed up to 78 per cent, against less than 1 per cent gain in the S&P BSE Sensex. READ MORE

1:51 PM

BS Opinion :: Shareholders vs stakeholders, once more

Have we been too early in celebrating the end of the profit-maximising corporation and the advent of stakeholder capitalism? Perhaps not.

 

After all, some 50 years have passed since Milton Friedman writing in the New York Times had baldly stated that the social responsibility of business is to maximise profits—a long enough period for any theory to start to fray. READ MORE