Sensex gains 84 pts as metal, IT stocks shine; broader markets outperform

The Nifty PSU Bank and Bank indices shed 0.8 per cent and 0.6 per cent, respectively today while the Nifty Private Bank and Financial Services indices slipped 0.6 per cent and 0.3 per cent

11:53 AM

Ashok Leyland to set up green arms; stock rallies 7%, nears 52-week high

Shares of Ashok Leyland, on Thursday, surged 7 per cent to Rs 124.80 on the BSE after the commercial vehicles major said it has decided to form two new subsidiaries as part of its plans to strengthen green transport solutions. The company, through its subsidiary Switch Mobility Ltd -- the UK-based electric vehicle producer of buses and vans, is creating two units, Ashok Leyland said in a statement. The first unit -- Switch Mobility Automotive Ltd -- is being formed to carry on the electric vehicle strategy in India and forms part of its global entity. READ MORE

11:45 AM

Prakash Industries hits 52-week high on clocking highest-ever sales volume

Shares of Prakash Industries snapped their two-day losing run and jumped over 9 per cent to scale a fresh 52-week high of Rs 88.80 on the BSE in intra-day trade on Thursday after the firm said it has recorded the highest-ever sales volume in the financial year 2021-22 (FY21). Around 11.20 am, the scrip was trading 6.59 per cent higher at 86.50 on the BSE as against a 0.84 per cent gain in the BSE barometer Sensex. In the past month, the stock has outperformed Sensex with a surge of nearly 47 per cent as against the index's 1.5 per cent decline. READ MORE

11:36 AM

Volatility Alert

>> India VIX, the volatility gauge, was down 2 per cent at 11:40 am at 19.83 levels.

11:27 AM

Growth triggers, valuations drive Britannia stock; Covid impact subdued

Britannia Industries has gained 10 per cent over the last couple of weeks, driven by a rebound in demand, expectations of steady performance in the March quarter, lower impact of the second wave of Covid infections, and attractive valuations. Analysts, led by Amnish Aggarwal of Prabhudas Lilladher, highlighted in a recent report that demand in the biscuit segment had returned to pre-Covid levels. READ MORE

11:26 AM

NBFC sector under pressure as Covid-19 cases rise, lockdowns resume: Fitch

India's non-bank financial institutions (NBFC) face renewed asset quality and liquidity risks as a second wave of coronavirus infections sweeps the country and could delay recovery in the sector, said Fitch Ratings. The agency said challenges are likely to increase if recent restrictions to contain the pandemic are expanded or prolonged, leading to greater economic and operational disruption. READ MORE

11:17 AM

NEWS ALERT :: Alembic Pharma JV receives US FDA's tentative approval for Efinaconazole Topical Solution

>> Alembic Pharmaceuticals Limited today announced that its joint venture Aleor Dermaceuticals has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Efinaconazole Topical Solution, 10%

>> Efinaconazole Topical Solution, 10% has an estimated market size of US$ 233 million for twelve months ending December 2020 according to IQVIA. Aleor has settled the case with Bausch Health and. will launch its generic as per the terms of settlement.

11:08 AM

How the second Covid-19 wave could mar the summer of recovery for airlines

Within two weeks of many airlines deciding to roll back salary cuts encouraged by a steady increase in traffic flow, a second wave of coronavirus along with rules of compulsory RT-PCR test has hit forward bookings. The fears of last summer, when the pandemic had overturned all the wisdom of airline boardrooms, have returned to haunt the aviation industry. READ MORE

10:58 AM

SECTOR WATCH:: Nifty Metal index rises 2%

10:53 AM

Rupee surges 10 paise to 74.37 against US dollar in early trade

After logging its biggest single-day fall in nearly two years on Wednesday, the rupee appreciated by 10 paise to 74.37 against the US dollar in opening trade on Thursday supported by positive domestic equities and weak American currency. At the interbank forex market, the local unit opened at 74.38 against the US dollar, then inched higher to 74.37 against the greenback, registering a rise of 10 paise over its previous close of 74.47.

(Text Source: PTI)

10:42 AM

Fertiliser shares in focus; Deepak Fertilisers, RCF rally over 10%

Shares of fertilisers companies were in focus at the bourses on Thursday, with Deepak Fertilisers & Petrochemicals Corporation, Rashtriya Chemicals & Fertilizers (RCF) and National Fertilizers rallying between 10 per cent and 18 per cent on the BSE in intra-day trade on expectation of higher demand. Zuari Agro Chemicals, Chambal Fertilisers & Chemicals, Coromandel International, Gujarat State Fertilizers & Chemicals (GSFC) and Gujarat Narmada Valley Fertilizers & Chemicals were up 3 per cent to 5 per cent on the BSE. READ MORE

10:33 AM

KPTL arm acquires 51% stake in Fasttel

Kalpataru Power Transmission (KPTL) said that its arm Kalpataru Power Do Brasil Participacoes, Brazil, has completed the acquisition of 51 per cent stake in Fasttel along with management control on April 7, 2021.

10:22 AM

Bond Market Alert

10-year benchmark bond yield falls to seven-week low of 6.04%

10:19 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
Vodafone Idea	9.88	1.13	7372688
ICICI Bank	584.05	1.13	2485954
Tata Motors	313.60	1.88	2099185
Infosys	1442.90	0.88	1652056
ITC	215.15	0.63	1557360

10:11 AM

How should bond, equity investors place themselves post RBI policy outcome?

The Reserve Bank of India (RBI) at its first policy outcome for the financial year 2021-22 struck a dovish tone, much along expected lines, as the monetary policy committee unanimously voted to keep the key repo rate unchanged at 4 per cent and vowed to hold 'accommodative' stance.

 

But what really became the centerpiece of the policy outcome was the announcement of the secondary market G-sec acquisition programme which the bond market needed the most. The move was well-received by the money market as the yield on the 10-year government bond fell by nearly 6 basis points to 6.078%. While the central bank kept the growth projections unchanged at 10.5% for FY22, it flagged off Covid as a key risk to the outlook. Amid this backdrop, what should investors do now? LISTEN TO THE PODCAST HERE

9:58 AM

Barbeque Nation shares extend rally, zoom 47% from Wednesday's low

Shares of Barbeque-Nation Hospitality, on Thursday, were locked in 20 per cent upper circuit, for the second straight day, at Rs 708.45 on the BSE. With today’s rally, the stock has surged 47 per cent from its Wednesday’s low of Rs 481.35. Currently, the stock was up 42 per cent against its issue price of Rs 500 per share after a weak market debut, yesterday. READ MORE