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

1:07 PM

ICICI Lombard: Leadership position supersedes other issues for investors

The stock of ICICI Lombard General Insurance has been a straggler unlike its peers in the insurance sector. While for the early part of 2020-21 (FY21), it was moderation in growth which played spoilsport — unlike life insurers helped by an unprecedented surge in demand for protection plans till August 2020 — recovery for general insurers, including ICICI Lombard, has largely been measured. READ MORE

1:06 PM

HDFC Bank extends loss, dips 4%

12:52 PM

SECTOR WATCH:: PSU banks rally

12:41 PM

Stocks that hit 52-week high on BSE today in an otherwise feeble market

Company	PRICE(rs)	52 WK HIGH	CHG(%)
3M India	29926.65	30250.00	0.21
APL Apollo Tubes	1426.50	1446.35	3.11
Birla Corpn.	930.05	940.00	3.51
Blue Dart Expres	5700.00	5847.95	1.95
Dr Lal Pathlabs	2678.00	2726.50	2.32

12:41 PM

Biggest rupee bear sees Asia's top performing currency hitting one-year low

The Indian rupee, Asia’s best-performing currency in March, is going to slide right back to levels last seen in the depths of the pandemic meltdown, according to Parul Mittal Sinha at Standard Chartered Plc. The currency will drop toward 76.5 to a dollar -- about 4 per cent weaker than current levels -- by the end of the year, said the head of macro trading, India and South Asia financial markets. That is the most bearish forecast seen among analysts surveyed by Bloomberg, and runs counter to expectations for it to stay strong. READ MORE

12:29 PM

Lenders clear one-time restructuring proposal of SP Group company

SPCPL had applied for an OTR facility (under the guidelines issued last year by the Reserve Bank of India). It had not made any payments due to its lenders, including investors of its commercial paper, after making the OTR application. The OTR had been invoked on October 26 and the Inter Creditor Agreement (ICA) had been signed by all eligible lenders by November 24 last year. READ MORE

12:19 PM

Govt to infuse Rs 14,500 crore in 4 banks, issue recapitalisation bonds

The government has announced it will put in Rs 14,500 crore in Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank by issuing non-interest bearing bonds to the state-owned lenders. Recapitalisation bonds will be issued with six different maturities, and the special securities would be “at par” for the amount as per the application made by the eligible banks. READ MORE

12:12 PM

Moody's upgrades outlook on Tata Steel to stable, cites recovery in Q3

Moody's has revised the outlook on Tata Steel Ltd from “negative” to “stable” on the company’s solid recovery in operations in the third quarter of current fiscal year (Fy21).

 

12:08 PM

Tech view: How to play Sensex, Nifty and other key indices in FY22

Despite facing headwinds over the past one week, markets are set to register their best financial year performance in a decade. Thus far in FY21, the S&P BSE Sensex and Nifty50 have rallied 66 per cent and 69 per cent, respectively. Meanwhile, the gains in mid-and small-caps have been sharper with both the indices rallying 111 per cent and 89 per cent, respectively on the BSE. READ MORE

11:57 AM

NEWS ALERT | Sterling & Wilson Solar bags order worth Rs 890 cr in the US

11:49 AM

Gold set for worst quarter since 2016-end on robust dollar, yields

Gold prices fell on Wednesday to their lowest in more than three weeks as elevated U. S. Treasury yields and a rising dollar kept the metal on track for its biggest quarterly drop in over four years. Spot gold was down 0.3% to $1,679.41 per ounce by 0438 GMT, after hitting its lowest since March. 8 at $1,677.61. It has declined more than 3% so far this month and 11.4% during the quarter. READ MORE

11:39 AM

Apollo Pipes rallies 10%, hits new high on healthy demand outlook

Shares of Apollo Pipes, on Wednesday, rallied 10 per cent to Rs 1,028.35 on the BSE in intra-day trade on expectation of strong revenue growth on the back of healthy demand outlook for the industry. In the past one month, the stock of the plastic products company has surged 46 per cent, against 1 per cent rise in the benchmark S&P BSE Sensex. READ MORE

 

11:30 AM

Kalpataru Power Transmission bags fresh orders worth Rs 625 crore

Kalpataru Power Transmission Ltd (KPTL) on Wednesday said it has secured new orders worth Rs 625 crore in domestic and overseas markets. The company said it has won orders in power transmission and railways business. In a regulatory filing, Kalpataru Power Transmission said it has secured new orders/notification of award of about Rs 625 crore. READ MORE

11:20 AM

Up 1,262% in a year, this IT stock has now scaled fresh record high

Shares of Intellect Design Arena surged 7 per cent to hit a new high of Rs 745 on the BSE in intra-day trade on Wednesday after the company announced that it has bagged a large deal from Concentra Bank to power its new digital banking strategy. In past one year, the stock zoomed 1,262 per cent from the level of Rs 54.70, as compared to a 68 per cent rally in the S&P BSE Sensex. READ MORE

11:08 AM

Markets set to register their best financial year performance in a decade

Despite the economy slipping into recession and all activity coming to a standstill for a few months due to the Covid-19 pandemic, markets are set to register their best financial year performance in a decade. Thus far in FY21, the S&P BSE Sensex and Nifty50 have rallied 66 per cent and 69 per cent, respectively. Earlier during FY10, the S&P BSE Sensex had surged 80.5 per cent, while Nifty50 rallied 73.7 per cent. READ MORE