Sensex dips 627 pts as investors book profit on last trading day of FY21

The S&P BSE Sensex and Nifty50 have rallied 68 per cent and 70.8 per cent, respectively in FY21

2:59 PM

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

2:53 PM

Increased participation in NDF market a concern for RBI's forex management

On Tuesday, the rupee dropped 1.2 per cent against the dollar. Before Tuesday’s trading session, the currency was the best performing Asian currency in 2021 and the only one to appreciate against the US dollar in the region despite rising dollar index and slower foreign portfolio investment. To understand what happened on Tuesday, one needs to go back to a Reserve Bank of India circular a year back – March 27 to be precise – when banks were allowed to trade in off-shore non-convertible forward (NDF) rupee market. READ MORE

2:44 PM

NEWS ALERT :: Cabinet approves PLI scheme for Food Processing Industry

>> Union Minister Piyush Goyal says PLI scheme on food processing will have an outlay of Rs 10,900 crore

2:32 PM

MARKET CHECK :: Sensex hits day's low

2:31 PM

MARKET UPDATE:: HDFC twins and ICICI Bank among top drags on Sensex

2:21 PM

BNK Capital hits 20% upper circuit as open offer priced at Rs 200 per share

Shares of BNK Capital Markets were locked in the upper circuit of 20 per cent at Rs 166.85 on the BSE in Wednesday's trade, in an otherwise weak market, after Lebnitze Real Estates Private Limited made an open offer to acquire 2.6 million equity shares of the company at a price of Rs 200 per share. The offer price is 44 per cent above Tuesday’s closing price of Rs 139 per share on the BSE. READ MORE

2:13 PM

Sectoral trends on the NSE at this hour

2:08 PM

European markets check

(Source: Reuters)

2:01 PM

Britain's economy grew more than thought at end of miserable 2020

Britain's coronavirus-hammered economy grew more quickly than previously thought in the final three months of last year but still shrank by the most in more than three centuries in 2020 as a whole, official data showed on Wednesday.

 

Gross domestic product increased by 1.3% between October and December last year from the previous three-month period, the Office for National Statistics said. READ MORE

1:53 PM

SBI inks $1-bn loan agreement with Japan Bank for International Cooperation

Country’s largest lender, State Bank of India, has raised $1 billion from Japan Bank for International Cooperation (JBIC) to extend loans to supply chain of Japanese automobile industry in India.

 

SBI signed a loan agreement with JBIC, taking the total facility to $2 billion. It has inked similar agreement for $1 billion in October 2020, SBI said in a statement. Bank did not disclose terms of agreement including tenure and interest charged for loan facility. READ MORE
 

1:42 PM

Market Check | HDFC twins, Infosys among top Sensex drags in afternoon session

1:35 PM

NEWS ALERT :: April RBI MPC meeting scheduled between April 5 and 7

1:26 PM

TVS Motor exports 100,000 two-wheeler units in March, calls it milestone

TVS Motor Company said on Wednesday it exported 100,000 two-wheeler units in March 2021, as sales of its motorcycles grew in markets across the globe.

 

TVS Motor does business in more than 60 countries and its key exports include the TVS Apache, TVS HLX series, and TVS Stryker series. READ MORE
 

1:15 PM

What to expect from March auto sales? Here's a take from Prabhudas Lilladher

- Our interaction with leading channel partners indicate demand sentiments across segments (ex 2W) remains unaffected, despite second concurrent lockdown in certain parts. 

 

- For PV, we expect healthy demand sentiments as retail volumes are expected to grow 16-18% YoY led by strong demand from North, Central and South regions. However short supply both in CVs and PVs are impacting retails to an extent 20-25%. 

 

- 2Ws demand continues to remain weak leading to further inventory increase across 2W OEMs to 5-7 weeks in Mar-21 (v/s 4-6 weeks in Feb). 

 

- Tractor demand was steady for the month with inventory at sub-normalized level of ~4 weeks.

Source: Prabhudas Lilladher

1:15 PM

Mukand zooms 38% in 2 days on transfer of land at Thane for Rs 802 crore

Shares of Mukand rallied 15 per cent to hit a fresh 52-week high of Rs 79.80 on the BSE in intra-day trade on Wednesday on the back of five-fold jump in trading volumes. The stock has zoomed 38 per cent in just two trading days after the company announced that it has completed the transfer of approximately 55 acres of surplus leasehold land at Thane to NTT Global Data Centers Nav2 and received total consideration of Rs 801.51 crore, including taxes, which shall, amongst other things, be utilised for debt repayment of the company. READ MORE