RIL, banks lift indices for 3rd day; Sensex gains 1,148 pts, ends above 51K

he frontline Nifty50 index made a dash for 15,300-mark in the intra-day trade, and hit a high of 15,273.

SI Reporter New Delhi

MARKET LIVE: markets, sgx nifty, oil price, ircon, ril, bharti airtel

3:42 PM

Sectoral trends on NSE at Close

3:39 PM

Sensex Heatmap :: Only 3 stocks end in the red

3:35 PM

CLOSING BELL

The frontline Nifty50 index made a dash for 15,300-mark in the intra-day trade, and hit a high of 15,273. The index cooled-off marginally and settled at 15,246 levels, up 326 points or 2.19 per cent.

On the BSE, the S&P BSE Sensex touched a high of 51,540 during the day but retreated to end at 51,445 levels, up 1,148 points or 2.28 per cent.

3:27 PM

India's October-February sugar output jumps 20%, few mills close early

Indian sugar mills' output rose by a fifth to 23.38 million tonnes in the first five months of the 2020/21 marketing year from a year earlier, while a few mills closed operations ahead of normal schedule, a trade body said on Wednesday.

The country is the world's second biggest sugar producer and the higher output could weigh on global prices. READ MORE

3:17 PM

2-6% retail inflation band has been working well since 2016, say economists

For most of 2020, the consumer price index-based inflation rate remained above the upper target of six per cent, but the RBI's monetary policy committee (MPC) followed an accommodative policy, at least in the initial part of the lockdown, to prop up dwindling economic growth rate. This gave rise to calls that the current framework should be altered to allow for pro-growth policies at the time of downturn. READ MORE

3:05 PM

Bank of Baroda raises Rs 4,500 cr through Qualified Institutional Placement

State-owned Bank of Baroda has raised Rs 4,500 crore equity capital through qualified institutional placement (QIP).

The capital raising committee of the board on Wednesday approved the issue and allotment of 55,07,95,593 equity shares to eligible qualified institutional buyers at issue price of Rs 81.70 per share against the floor price of Rs 85.98 apiece, aggregating to Rs 4499,99,99,948.10, the bank said in a regulatory filing. READ MORE

3:05 PM

LT Foods' stock gains over 2% after ratings upgrade on bank loan facilities

LT Foods rose 2.65 per cent to Rs 59.90 after the credit ratings agency upgraded the credit ratings on the company's bank loan facilities worth Rs 1187.5 crore. CRISIL Ratings has upgraded its rating on the bank facilities of LT Foods to 'CRISIL A/Stable/CRISIL A1' from 'CRISIL A-/Positive/CRISIL A2+'. The short-term rating on the company's bank facilities have also been upgraded from 'CRISIL A2+' to 'CRISIL A1'. READ MORE

2:53 PM

RIL, financials, IT stocks drive Sensex over 1,000 points higher

2:46 PM

Easy Trip Planners IPO to open on Mar 8; price band is Rs 186-187 a share

Online travel company Easy Trip Planners on Wednesday fixed a price band of Rs 186-187 per share for its Rs 510-crore initial share-sale, which will open for public subscription on March 8. The company's initial public offering is entirely an offer for sale, Easy Trip Planners said in a virtual press conference. Through the IPO, company's founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of Rs 255 crore through offer-for-sale mechanism. READ MORE

2:36 PM

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

2:28 PM

NEWS ALERT :: RITES secures Rs 61 crore order from Haryana Rail infrastructure Development Corp

>> In continuation to our earlier intimation dated February 11, 2021 regarding emerging L1, it is confirmed that RITES has now secured General Consultancy order from Haryana Rail infrastructure DDevelopment Corporation Limited for their Haryana Orbital Rail Corridor (HORC), which is a new electrified Broad-Gauge double line (about 144 kms) from Palwal to Sonipat via Sohna, Manesar and Kharkhoda in the state of Haryana with speed potential of 160 kmph.

2:27 PM

Jan consumption, investment growth points to faster recovery for economy

The Indian economy seems to be moving on the path of faster recovery with key indicators on consumption and investment showing a sharp slowdown in contraction in January, 2021.

According to Ecoscope report of Motilal Oswal Financial Services, the country's total consumption (personal and government) contracted 4 per cent YoY in January, 2021, against 4.4 per cent YoY in December, 2020 and 3.4 per cent YoY growth in January, 2020. READ MORE

2:13 PM

Tata Chem, Alkyl Amines: These chemical stocks may rally another 25%

Improved business sentiment amid low Covid-19 cases, favourable government policies, and a huge export opportunity are acting as the much-needed impetus for the Indian specialty chemicals industry, believe analysts who expect the industry to grow at a healthy double-digit rate over the medium term. “We expect the industry to grow on a compound annual rate of 12 per cent and reach $65 billion by FY25, from the current $32 billion,” says Mitesh Shah, research analyst at ICICI Securities. READ MORE