Bears tighten grip; Sensex slips 400 pts, Nifty holds 15,200; PSBs rally

In the intra-day session, the Sensex and the Nifty indices touched a low of 51,586 and 15,171, respectively.

2:10 PM

PGCIL wins two transmission projects under tariff-based competitive bidding

State-run Power Grid Corporation on Wednesday said it has bagged two electricity transmission projects under tariff-based competitive bidding norms. "Power Grid Corporation of India Ltd (PGCIL) has been declared as the successful bidder under tariff-based competitive bidding (TBCB) to establish two projects on build, own operate and maintain (BOOM) basis," the company said in a regulatory filing.

 

(Text Source: PTI)

2:00 PM

Sector Watch

1:55 PM

NEWS ALERT :: Bitcoin tops $51,000-mark for the first time

1:50 PM

Happiest Minds Technologies surges 14%, hits new high amid heavy volumes

In the past seven trading days, the stock has rallied 33 per cent after its net profit nearly doubled to Rs 42.15 crore in the December quarter (Q3FY21), against Rs 21.38 crore in the year-ago quarter. Revenue grew 14.6 per cent year-on-year (YoY) to Rs 201 crore from Rs 176 crore in the previous year quarter. READ MORE

1:43 PM

NEWS ALERT :: Union Ministers Prakash Javdekar, Ravi Shankar Prasad, and Smriti Irani to brief media

>> Press briefing on Cabinet decisions at 3:00 PM today

1:37 PM

IPO UPDATE :: Nureca issue subscribed nearly 23 times so far; issue closes today

Subsription Details

 

QIB portion - 0.91 times

NII portion - 3.95 times

Retail portion - 119.04 times

Employees portion - 3.41 times

1:25 PM

Sensex Heatmap at this hour

1:14 PM

Route Mobile, OnMobile Global & 6 other stocks rally over 50% in a week

Tanfac Industries soared 17 per cent to Rs 299.70, also its 52-week high, on the BSE in intra-day trade today. In the past one week, the stock of commodity chemicals has soared 57 per cent after the company's December quarter (Q3FY21) net profit more-than-doubled to Rs 10.20 crore. It had posted a profit of Rs 3.85 crore in the year-ago quarter. READ MORE

1:02 PM

Info Edge drops 12% in 2 days despite analysts raising targets; here's why

Analysts at Edelweiss Securities have 'Hold' rating on the stock with a target price of Rs 5,460 considering the core business's steep valuation.

 

"IEL continues to be one of the strongest diversified internet franchises in India. With traffic roaring back, revenue and collections should bounce back over the next few quarters. As relevance and long-term prospects for internet companies have improved significantly, we are raising the target multiple across businesses," it said. READ MORE

12:54 PM

Investors bet big on cyclicals as economic recovery gathers pace

After playing safe during the initial phase of the pandemic in 2020 and sticking to defensive plays such as pharmaceuticals, fast moving consumer goods (FMCG) and information technology (IT), investors are now betting big on cyclical recovery after a sharp economic contraction with most of the related stocks doing well at the bourses. READ MORE

12:44 PM

NEWS ALERT :: Techno Electric signs MoU with Govt of Tamil Nadu

>> MoU is for development of a 25 MW Data Centre along with ITeS facility in Chennai. Co proposes to invest Rs 650 cr over 3 years

12:34 PM

India VIX eases nearly 3% to 21.14

> VIX is a measure of volatility in the market

12:22 PM

SECTOR WATCH :: Recovery in bank stocks erase indices' losses

12:11 PM

Dr. Reddy's Labs announces launch of Capecitabine tablets in US market

> The drug is used for treatment of cancer
> It is the generic version of Xeloda

11:58 AM

Rush for NFOs amid buoyancy in markets to offset net redemptions

Equity mutual fund (MF) schemes, despite buoyancy in the markets, have seen sustained net redemption since July. To stem outflows and boost asset mobilisation, the Rs 30-trillion asset management industry is making a beeline for new schemes.

 

On Friday, documents for over 12 new fund offer (NFO) were filed with the Securities and Exchange Board of India (Sebi), taking the year-to-date count to 30. Experts say even as investor sentiment remains bullish, most existing schemes are seeing outflows every month. READ MORE