Metals, pvt banks lead Sensex's 471-pts slide; Nifty ends below 14,700

The broader markets, too, succumbed to profit booking with the BSE MidCap and SmallCap indices falling 0.9 per cent and 0.6 per cent, respectively.

3:28 PM

UK economy showed resilience ahead of big lockdown easing

The British economy contracted by a quarterly rate of 1.5 per cent in the first three months of 2021, a relatively modest contraction given that the country was in the midst of a strict lockdown to combat a second wave of the coronavirus. READ MORE

3:23 PM

NEWS ALERT :: Cabinet approves PLI scheme for battery storage equipment industry

3:18 PM

Covid woes :: Most of India should remain locked down for 6-8 weeks: ICMR chief

The head of the main Indian health agency responding to the coronavirus has said districts reporting a high number of infections should remain locked down for another six to eight weeks to control the spread of the rampaging disease.

 

Dr. Balram Bhargava, head of the Indian Council of Medical Research (ICMR), said in an interview that lockdown restrictions should remain in place in all districts where the rate of infection is above 10% of those tested. READ MORE

3:09 PM

March Quarter Results :: Asian Paints reports profit of Rs 850 crore

>> Revenue at Rs 6,651 crore

>> Declares dividend of Rs 14.5/share

3:00 PM

MARKET UPDATE:: Sensex slips to day's low ahead of weekly options expiry

2:59 PM

SECTOR WATCH :: Metal stocks crack the most

2:53 PM

IPO boom: $140.3 billion raised globally via 670 offers in 2021

The global primary market is on fire with 670 initial public offers (IPOs) of companies raising a collective $140.3 billion thus far in calendar year 2021 (CY21) till May 10, suggests a latest report by Refinitiv – a global provider of financial market data and infrastructure. This is nearly four times the amount raised during the corresponding period in CY20. READ MORE

2:45 PM

New CEO at Godrej Consumer Products drives a sharp rerating for the stock

In a weak market, the Godrej Consumer Products stock shot up 21 per cent, its single largest daily gain thus far after brokerages upgraded the stock. The rally is on the hope that Sudhir Sitapati, the new managing director and chief executive officer will be able to reverse the sluggish growth trajectory of its key segments over the past few years and bridge the gap in capital efficiency with peers in the consumer space. Given the wide gap in growth metrics and return ratios, the stock has been trading at a sharp discount to peers. READ MORE

2:38 PM

TaMO zooms 5% as Q4 JLR sales rise

2:37 PM

Tata Motors in focus

JLR retail sales in Q4 rise 12.4% YoY to 1.23 lakh units

2:30 PM

March Quarter Results :: Voltas declares divided of Rs 5 per share

>> PAT: Rs 237 crore

>> Revenue: Rs 2,651 crore

>> Ebitda: Rs 330 crore

>> Ebitda margin: 12.5%

2:20 PM

Multiples Alternate Asset Mgt-led group to buy Cadila's animal health biz

The deal is to sell one of the two business undertakings of ZAHL on a slump sale basis as a going concern, for a lump sum consideration of Rs 2,921 crore on a cash-free and debt-free basis, subject to certain closing date adjustments and other conditions. The transaction involves transfer of immovable assets, movable assets, inventory, brands and intangible assets, contracts, licenses and permissions, business records, employees along with employee benefit funds, insurance policies, other assets and assumed liabilities. READ MORE

2:12 PM

Indian April fuel demand dips; coronavirus wave clouds outlook

India's April fuel demand slipped from the previous month as the world's third largest oil consumer bore the brunt of raging coronavirus infections, with the prospect of further restrictions weighing on the outlook. Consumption of fuel, a proxy for oil demand, fell 9.4% to 17.01 million tonnes from March, data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas showed on Tuesday. READ MORE

 

2:06 PM

Zomato IPO will test Indian investors' unicorn appetite: Analyst's note

Food consumption in India was about $670 billion in 2019--driven by home-cooked food. Food services, defined as non-home-cooked food or restaurant food, contribute around 10 per cent to the consumption market. This is lower than the United States and China where food services contribute about 54 per cent and about 58 per cent of total consumption. READ MORE

1:54 PM

SoftBank posts $37-bn Vision Fund profit in Q4 on Coupang, eyes more IPOs

SoftBank Group Corp on Wednesday reported a 4.027 trillion yen ($36.99 billion) fourth-quarter profit at its Vision Fund unit after booking a gain on investment Coupang, underscoring its recovery a year after a record loss. "It's clearly validation of Masa's thesis," Navneet Govil, Vision Fund's chief financial officer, told Reuters in an interview, referring to Masayoshi Son, the company founder and CEO. READ MORE