Sensex gains for 2nd day, ends 437 pts up at 46,444; HUL, Infy top gainers

India VIX cooled off over 6 per cent to end at 20.5 levels

2:25 PM

Corporate Action :: RBI okays Sandeep Batra's appointment as executive director of ICICI Bank

The Reserve Bank of India (RBI) approved the appointment of Sandeep Batra as the Executive Director of ICICI Bank.

 

The appointment comes into effect from today. Batra has been appointed as the Executive Director for a period of three years.

 

"RBI vide its letter dated December 22, 2020 has communicated its approval for the appointment of Sandeep Batra as Executive Director of the Bank," ICICI Bank said in regulatory filing.

(Source: BSE filing)
 

2:18 PM

Wipro: Aggressive deal wins, internal changes boost investor sentiment

The deal, announced late on Tuesday, is initially for a period of five years, but can be extended by another four years. The company said that the deal would entail a minimum revenue commitment of $1 billion. Wipro has been aggressive in winning large deals since the management change, say analysts. “Aggression in deal wins has continued even in the third quarter, which is a seasonally weak quarter, with Wipro winning 5 deals including Olympus, Thoughtspot, Fortum & Verifone apart from the Metro deal in Q3. This gives us confidence about superior execution of new management at Wipro,” said analysts at Prabhudas Lilladher in a report. The rising number of large deals and a healthy order pipeline are expected to drive revenue growth in the second half of the ongoing fiscal as well as the next year. Analysts estimate the company’s revenue to grow 8 per cent in 2021-22, the highest since 2015-16. READ MORE

2:09 PM

ALERT :: Dow Jones Futures turn positive

2:00 PM

Ramco Systems signs multi-million-dollar agreement; stock jumps 9%

Ramco Systems in a BSE filing on Wednessday said that it has signed a multi-million dollar agreement with a Global Fortune 500 major to unify and transform its Payroll for 18 countries in Asia Pacific region on Ramco’s Managed Payroll Services.

 

1:52 PM

Large cable manufacturers gain as consolidation gathers momentum

Channel checks by analysts show that the pandemic has left smaller and regional companies starving for cash. Their stretched working capital needs amid recovering demand have resulted in market share gains for peers with larger capacities, stronger balance sheets, and diverse portfolios. READ MORE

1:42 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ABB POWER PRODUC	1354.15	1400.00	8.30
ASTRAL POLY TECH	1569.00	1594.65	2.72
BERGER PAINTS	729.00	732.90	2.33
BIRLASOFT LTD	251.80	266.00	8.07
CAPRI GLOBAL	309.35	320.15	4.07

1:28 PM

Outlook 2021 | RBI to face new challenges as Rupee, bonds lure overseas investors

Stocks have already attracted the biggest yearly inflows since 2012, adding to the woes for the Reserve Bank of India that has been buying up the deluge of dollars to curb the rupee’s gains. The resulting glut of cash in the financial system has caused short-term rates to crash, which, combined with high inflation, is dampening debt returns for foreign funds triggering a record outflow from bonds. READ MORE

1:18 PM

Ruchi Soya shareholders okay appointment of Ramdev on board; stock up 4.5%

Shares of Ruchi Soya gained as much as 4.5 per cent to hit an intra-day high of Rs 690 on the BSE on Wednesday after shareholders of the company approved the appointment of Yoga guru Swami Ram Dev, his younger brother Ram Bharat and close aide Acharya Balkrishna on the company's board. At 12:55 pm, the stock was trading 4.47 per cent higher at Rs 689.9, as against a 0.68-per cent rise in the benchmark S&P BSE Sensex. READ MORE

1:11 PM

NEWS ALERT :: L&T Construction bags contracts in the range of Rs 2,500-5,000 cr

1:10 PM

NEWS ALERT | L&T Construction bags contracts in the range of Rs 2,500 cr-5,000 cr

1:01 PM

Despite Covid-19, M&A and PE deal value rose by 7% to $80 billion in 2020

Deal values of private equity investments and Merger & Acquisitions, at an aggregate level, stood at little over $80 billion in 2020 as compared to $74.8 billion in 2019, up by around seven per cent. Around 25 per cent of this deal value could be attributed to sizable inbound investments in Jio Platforms. Strategic deals (mergers and acquisitions [M&A]) accounted for over 50% of the total deal value this year, while private equity (PE) activity kept pace with last year, recording investments worth $38.2 billion, according to PWC's Deals in India: Annual review and outlook for 2021 report. READ MORE

12:55 PM

IPO Update: Anthony Waste issue subscribed nearly 6x on Day 3

Total Issue Size	66,66,342
Total Bids Received	3,80,15,762
Total Bids Received at Cut-off Price	2,60,62,346
No. of times issue is subscribed	5.70

Source: NSE

12:45 PM

Sensex at day's high

12:39 PM

Majesco shares trade ex-dividend, locked in 5% upper circuit

Till 11:48 am, a combined 45,800 equity shares had changed hands and there were pending buy orders for 129 million shares on the BSE and NSE, the exchange data shows.

 

Majesco has fixed Friday, December 25, 2020 as record date for the purpose of payment of interim dividend. READ MORE

12:30 PM

NEWS ALERT :: Prakash Javadekar to hold press conference on Cabinet decisions at 4 pm today

Union Minister Prakash Javadekar