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.

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

11:34 AM

RPP Infra surges 9%, hits 52-week high on bagging orders worth Rs 1,000 cr

Among the four orders that the company has won, one is from the Tamil Nadu Water Supply and Drainage Board under the Jal Jeevan Mission worth Rs 131.14 crore. It has bagged another order from the Highways Department as part of the Chennai-Kanyakumari Industrial Corridor Project which involves upgrading two stretches of the road at a total contract price of Rs 558.66 crore. READ MORE

11:28 AM

NEWS ALERT :: Vaibhav Global to consider sub-division/split of equity shares

>> A meeting of Board of Directors of the Company is scheduled to be held on Monday, March 22, 2021, inter-alia to consider the proposal for sub-division/split of Company's equity share having face value of Rs. 10/- each including matters related/ incidental thereto.

11:13 AM

Sebi's expert panel to probe glitch at NSE, submit report by March 15

The Securities and Exchange Board of India’s (Sebi’s) technical advisory committee has been mandated to probe the trading halt at National Stock Exchange (NSE) and fix accountability.

The committee after a detailed examination would send its findings and recommendations to whole-time member Madbhi Puri Buch, to decide the future course of action, said two people in the know. READ MORE

10:58 AM

Top gainers on the BSE at this hour

Company	PRICE(rs)	CHG(%)
Shoppers Stop	245.05	15.51
IFCI	12.17	13.84
Jindal Stain.	79.10	12.84
Jindal Stain. Hi	136.75	11.77
Guj.St.Petronet	288.85	11.31

» More on Top Gainers

10:49 AM

Cool prospects for consumer durable firms as temperature set to soar

“Temperatures have just started warming, particularly in north India. Our dealer checks suggest a healthy trend in consumer durables demand, with optimism that air-conditioner (AC) sales will pick-up with the summer onset. Channel stocking in the December quarter helped dealers as prices rose 5-6 per cent since January 2021. Consistent higher temperatures in the next two – three weeks is important for the next leg up in Voltas / Blue Star from current levels,” wrote Lavina Quadros and Apoorva Bahadur of Jefferies in a February 25 note. READ MORE

10:39 AM

Ion Exchange slips 4% as Rakesh Jhunjhunwala sells stake in firm

Shares of Ion Exchange snapped four-day winning run and slipped 4 per cent in intra-day trade on Wednesday after the bulk deal data available on BSE showed that ace investor Rakesh Radheyshyam Jhunjhunwala and his firm Rare Investments offloaded stake worth Rs 65 crore in the company on Tuesday. As per bulk deal data on BSE, Jhunjhunwala sold a little over 1.5 lakh shares at Rs 1,205.19 apiece, valuing the deal at Rs 18.17 crore. Rare Investments offloaded 3.87 lakh scrips at a price of Rs 1,205.42 apiece, taking the total deal value to Rs 46.73 crore. READ MORE

Markets may correct in the short term. But in a bull market the correction is always sharp, swift and short-lived: Rakesh Jhunjunwala

10:33 AM

NEWS ALERT :: Feb services PMI improves to 55.3 vs 52.8 in January

Rising from 52.8 in January to 55.3 in February, the seasonally adjusted India Services Business Activity Index pointed to the sharpest rate of expansion in output in one year. Moreover, the latest reading extended the current growth sequence to five months. Survey participants linked the upturn to improved demand and more favourable market conditions.

10:28 AM

IRCON dips 7% as govt begins to offload up to 16% stake via OFS

The base issue size of the OFS is 10 per cent or over 4.70 crore equity shares, with a green-shoe option to retain over-subscription of 6 per cent or over 2.82 crore shares. The total issue size, including green-shoe option, comes to 16 per cent or over 7.52 crore shares. At the floor price, a 16 per cent stake would fetch over Rs 600 crore to the exchequer. READ MORE

10:17 AM

Earnings estimates of India Inc see upgrade after strong Q3 results

After a better-than-expected show by India Inc in the December 2020 quarter, there is more good news for investors and market participants. Even as corporate profits were already expected to grow at a robust pace in FY22 and FY23, the country’s top brokerages have now upgraded the earnings per share (EPS) estimates of big listed companies for FY21-FY23. READ MORE

10:05 AM

Rupee Opening

Rupee opens stronger at 73.25 per US dollar vs Tuesday's close of 73.36/$

10:01 AM

Busy IPO season in March with seven offers worth Rs 12,000 crore

It will be a busy March for the initial public offering (IPO) market. Several companies are looking to launch their maiden offerings to cash in on the exuberance in the secondary market.

At least seven deals worth a cumulative Rs 12,000 crore are expected to hit the market over the next 3-5 weeks, say investment banking sources. Easy Trip Planners, Kalyan Jewellers, Laxmi Organics, Craftsman Automation, Anupam Rasayan, Suryoday Small Finance Bank and Aadhar Housing Finance are among the companies looking to tap the market. READ MORE

9:49 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)
Vodafone Idea	11.28	-0.88
Punjab Natl.Bank	41.60	1.46
B H E L	51.25	-0.97
Tata Power Co.	103.50	3.09
NBCC	50.45	-3.54

» More on Most Active Volume

9:43 AM

MARKET VIEW | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The stabilization of US 10-year bond yield at around 1.4 % has, for now, removed the fear of massive capital outflows. FIIs are back with buys of Rs 2223 cr yesterday. Short covering and renewed buying in FII's favourite stocks have again brought the bulls back. Markets are likely to be excessively volatile, globally as well as in India. Inflation is likely to rise, bond yields may again rise, though mildly and Fed will continue to be accommodative. Along with this, India Inc will continue to report good numbers while market valuations continue to remain elevated. The perfect setting for choppy markets.

9:38 AM