Sensex ends lacklustre trade 272 pts up; Nifty tops 14,700; metal, IT rally

The benchmark S&P BSE Sensex swung within a band of 400 points, hitting a high and low of 49,011 and 48,614 levels, respectively

1:08 PM

MARKET CHECK :: Sensex trades near day's high

1:04 PM

Mid-market view | Gaurav Garg, Head of Research at CapitalVia Global Research

Nifty has been trading in a consolidated manner near the level of 14,650. If the index breaches the level of 14,700, we might see a small rally in the market. Technical factors in the market are aligned to show that market will trade in a range of 14,500-14,900. 14,500 will be an important support level in the short term.

12:55 PM

Q&A | Quality mid-, small-caps may continue to do well: Reliance Securities CEO

Outperformance of midcaps and smallcaps was mainly on account of improved earnings visibility of corporate India. As valuations of largecaps appeared to be out of whack, investors started lapping up quality midcaps and smallcaps, which were available at relatively comfortable valuations.  READ FULL INTERVIEW HERE

Lav Chaturvedi, ED & CEO of Reliance Securities

12:47 PM

Cognizant revises full year guidance for CY2021; Q1 revenue up 4.2%

Nasdaq-listed IT major Cognizant reported a better set of numbers for the first quarter of CY2021, as the company saw recovery in its healthcare vertical. The company also revised upwards its full year revenue guidance from 7 per cent to 9 per cent (5.5-7.5 per cent in constant currency). At the end of its fiscal year in December 2020, the company had guided for a revenue growth of 5.5 to 8.5 per cent (4-7 per cent in constant currency). READ MORE

12:38 PM

Anupam Rasayan rallies 13% in 2 days after Plutus Wealth buys stake

Shares of Anupam Rasayan India gained 5 per cent to Rs 716 on the BSE in intra-day trade on Thursday, rallying 13 per cent in the past two trading days, after Plutus Wealth Management bought 1 million shares of the company via open market on Wednesday. The stock is trading at its highest level since its listing on March 24, 2021. READ MORE

 

12:22 PM

Sector Watch :: Tyre stocks under pressure

12:12 PM

Delta Corp in focus :: All casinos to remain shut in Sikkim

Due to a surge in Covid-19 cases being witnessed in Sikkim, the government of Sikkim has amongst various other measures, directed all establishments to close as per the instructions laid down.
 

Accordingly, our Casino in Sikkim will remain closed until May 16, 2021. We are unable to estimate the quantum of potential losses on account of this temporary closure and the pandemic at this time.
 

12:06 PM

Jeff Bezos sells $2.5 billion of Amazon and signals more coming

Jeff Bezos sold about $2.5 billion of Amazon.com Inc. stock, his first big disposal this year after offloading more than $10 billion worth of shares in 2020.

 

Bezos sold around 739,000 shares this week under a pre-arranged trading plan, according to U.S. Securities and Exchange Commission filings. He plans to sell as many as 2 million shares, according to a separate filing. READ MORE

11:57 AM

Coforge advances 10% on healthy March quarter performance

Shares of Coforge moved higher by 10 per cent to Rs 3,181.65 on the BSE in intra-day trade on Thursday after the company reported a robust financial and operating performance during the March quarter of the financial year 2020-21 (Q4FY21). The IT firm reported continued growth-led momentum, with consolidated revenue growing 7.1 per cent sequentially in dollar terms to $172.1 million during the January-March quarter. In constant currency (CC) terms, revenue grew 5.1 per cent over the preceding quarter. In rupee terms, revenue was up by 6 per cent sequentially and up by 13.7 per cent year-on-year (YoY) at Rs 1,261 crore during Q4FY21. READ MORE

11:52 AM

Markets may be ignoring banks' NPA risk from second coronavirus wave

The RBI’s new measures to tackle the Second Wave seem to have lifted sentiments in the financial sector, temporarily at least. The key points of the Governor’s statement can be summarised as follows. Global economic activity seems to be picking up but the Second Wave has put the brakes on fast domestic recovery. The next few months are likely to be bad and the central bank will do what it can, to support life and maintenance of livelihood through a difficult period. READ MORE

11:42 AM

US-listed Emerging Markets ETFs see 26th straight week of inflows

US-listed exchange traded funds (ETFs) that invest in emerging markets (EMs) saw positive inflows for a 26th week in a row, the Bloomberg data showed. Total inflow was $341.7 million for the week ended April 30, up from $81.1 million in the previous week. If not for the $583-million inflow into ETFs that invested in China and Hong Kong, the flows could have turned negative for the EM pack. The $4.4-billion KraneShares CSI China Internet ETF, or KWEB, received $255 million last week. READ MORE

11:34 AM

NEWS ALERT :: Angel Broking plans to foray into AMC business, suggests report

>> Angel Broking aims to float a MF

>> Will focus on tech-backed passive investment products

(Source: TV Report)

11:29 AM

Results today :: Analysts see up to 60% YoY rise in Hero MotoCorp's Ebitda

Nomura

 

The global brokerage has one of the most conservative estimates for the New Delhi-based firm with standalone net profit seen at Rs 794 crore, up around 28 per cent YoY, during the quarter under review. This compares with PAT of Rs 620.7 crore posted in Q4FY20 and Rs 1,084.5 crore in Q3FY21.

 

Revenue and Ebitda, meanwhile, could rise 33 per cent YoY each to Rs 8,493.8 crore and Rs 1,102.3 crore, respectively. READ MORE
 

11:21 AM

NEWS ALERT :: Kerala announces complete lockdown

11:19 AM

Corporate India jittery about Q1 amid a relentless second Covid-19 wave

Early signals from the results of the fourth quarter of FY21 have been encouraging, but corporate India isn't celebrating. Reason: A broad swathe of companies across sectors believe that the first quarter of the current financial year will severely test their resilience amid a relentless second Covid-19 wave that has pushed India to the top of the list of the worst-affected countries in the world. READ MORE