RIL, banks drag Sensex 871 pts lower at 49,180, Nifty below 14,550

Weightage-wise, Reliance Industries, ICICI Bank, HDFC Bank, HDFC, Infosys, Axis Bank, ITC, and SBI were responsible for 600 points cut in the Sensex

9:49 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
Vodafone Idea	9.98	-1.19	3549077
I O B	17.60	6.34	2218126
Suzlon Energy	5.38	-2.71	1874630
Bank Of Maha	22.70	8.61	1307695
Punjab Natl.Bank	38.55	-0.52	992074

9:37 AM

IPO Review | YES Securities on Barbeque Nation Hospitality

Company is targeting a market cap of Rs 18.8bn post-issue which equates to 12.2x FY20 EV/EBITDA and 2.2x P/S, which is significantly lesser than QSR peers like Westlife and Burger King. But given the highly capital intensive and more volatile dine-in business model, we believe the discount is justified. Moreover, given the recent pre-IPO allotment in December and January was done at 50% less than IPO price and COVID concerns have again come back which would be a near term headwind for the space, the pricing looks on the higher side with not a lot left on the table for investors. We also note that earlier fund raises in 2018 have been done at a much higher price, but fundamentals have deteriorated since. Despite a strong growth outlook for the space (18% expected industry CAGR) and strong brand equity for the company which should help market share gains, we would advise avoiding the IPO and awaiting better entry opportunities post listing.

 

9:34 AM

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

The sudden surge in Covid cases, globally, is a cause for concern. Markets had discounted sharp recovery in global GDP growth in 2021. But now, with parts of Germany, France & Italy going through the third wave and regional lockdowns, global GDP growth is likely to be below estimates. The recent crash in crude is a reflection of reduced demand emanating from declining economic activity. In India, the second wave in some prominent cities is adding to the concern. FII & DII buying are down. Investors may wait & watch. Declines may be used to buy quality large-caps in IT, pharma & financials where there is good earnings visibility.

9:31 AM

Hero MotoCorp trades in the green; firm to hike prices from April

The company, on Tuesday, said it will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021, in order to partially offset the impact of higher commodity costs.

9:30 AM

Bank of Maharashtra rallies 9% on raising Rs 100 crore

The company said it has raised Rs 100 crore by issuing Basel III compliant bonds on private placement basis.

9:28 AM

Buzzing Stock :: RIL sheds nearly 1%

Saudi Aramco remains in discussion with Reliance Industries (RIL) for a potential deal to buy a 20 per cent stake in its oil-to-chemical unit, Morgan Stanley said, on Monday, citing the Saudi firm's analyst call post announcing 2020 earnings.

9:27 AM

South Indian Bank slips marginally as firm looks to raise funds via QIP

The lender said shareholders of the bank have approved raising equity capital of Rs 240 crore through qualified institutional placement (QIP).

9:24 AM

IFCI jumps 4% as board approves Rs 200 cr preferential issue of shares to promoter

> The company board has approved preferential issue of equity shares aggregating up to Rs 200 crore to the promoter i.e. Government of India, subject to shareholders approval.

9:21 AM

Stock Reaction :: Rail Vikas Nigam tanks 7% as OFS kicks off

9:20 AM

Sector Watch | Nifty FMCG index bucks weak market trend

9:19 AM

Sensex Heatmap | Top gainers & losers at opening tick

9:18 AM

First Trade

9:17 AM

OPENING BELL :: Sensex sheds over 250 points

9:15 AM

NEWS ALERT :: Adani Green to acquire 74.94 MW Solar Projects from Sterling & Wilson at Rs 446 cr

9:08 AM

COMMODITY CHECK