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

12:28 PM

Emami units get GMP certification

Two plants of home-grown FMCG company Emami Limited have got WHO-GMP certification for its units at Vapi and Masat at Gujarat which manufactures ayurveda healthcare products under the 'Zandu' brand for a period of three years. The two units have also obtained Certificate of Pharmaceutical Products (CoPP), the company said in a statement. (Text Source: PTI)

12:14 PM

MARKET UPDATE:: Sensex holds on to gains

11:59 AM

D-Street's top wealth creators of 2020 show further upside

Among the star performers in the broader market, names like Dixon Technologies, Laurus Labs, and Aarti Drugs have leaped between 230 per cent and 395 per cent so far in the calendar year 2020 and stand as the top wealth creators of this year. In comparison, the benchmark S&P BSE Sensex has risen just 11.5 per cent till December 22. So, should you continue to hold these stocks in your portfolio? Here's what charts suggest. READ MORE

11:47 AM

BUZZING STOCK | Borosil Renewables rallies 13% to hit new high

Shares of Borosil Renewables (BRL) rallied 13 per cent to hit a new high of Rs 211 on the BSE in Wednesday's intra-day trade on the back of heavy volumes on strong growth outlook. In the past eight trading days, the stock has zoomed 60 per cent, as compared to a 0.25 per cent rise in the S&P BSE Sensex. The trading volumes on the counter rose 1.5 times with a combined 2.5 million equity shares changing hands on the NSE and BSE. READ MORE

11:38 AM

Around 62% PMS strategies lagged Nifty50 in November

Aroung 62% of the 189 PMS strategies underperformed the Nifty50 in November with average returns of 10.5 per cent, against 11.4 per cent for the benchmark.

 

Top performing strategies included Lake Water Advisors’ Lake Water (30.1%), Trivantage Capital Management’s Super Six (24.8%), and Basant Maheshwari Wealth Advisers’ Equity Fund (22%), the data from PMS Bazaar showed. READ MORE

11:33 AM

Sector Watch | Amid losses in ONGC, IGL, Oil & Gas index only sectoral loser on BSE

11:24 AM

Glenmark inks pact with Menarini Group to commercialise nasal spray in Europe

Glenmark Pharmaceuticals on Wednesday said its subsidiary has inked a licensing pact with Menarini Group for commercialising its nasal spray Ryaltris across 33 countries in Europe, including the Balkan region. As part of the deal, Glenmark will receive an upfront payment as well as launch and sales based milestone payments from Menarini for Ryaltris sales. (Text Source: PTI)

11:16 AM

Rising cases of coronavirus put a question mark over metal stocks rally

A sudden and sharp fall in the equity markets on Monday not only brought fear back on the Street, but also raised a question mark over the sustainability of the rally in metal stocks. Metal producers, such as Tata Steel, Hindalco, JSW Steel, Hindustan Zinc, Steel Authority of India, and National Aluminium, saw big cut in their shares on Monday as investors fretted about the future trajectory of the demand and prices of industrial metals. READ MORE

11:06 AM

EXPERT TAKE :: Keshav Lahoti, Associate Equity Analyst at Angel Broking on Burger King

We had given a subscribe rating to Burger King India IPO, stock made a stellar listing on the exchange by listing at 87.5% above its issue price  and is currently trading at 201% above issue price. Currently, stock is trading at 6.2x on FY20 EV/sales basis. Short term investors can book profit at the current market price. Investors with a long term horizon can keep their money invested in the stock as growth prospects of the company are promising and as operating leverage will kick in, it will improve company's margins.
 

11:05 AM

Stock Idea by Geojit Financial: Glenmark Pharmaceuticals

Consolidated revenues for Q2FY21 rose 4.9% YoY to Rs. 2,952 cr with India business at Rs. 1,051 cr (+17.2% YoY) and API business at Rs 321cr (+19.1% YoY) contributing strongly, coupled with a good performance in Europe (+11.6% YoY) and ROW (+9.1% YoY) regions. Given current upside potential with successful new product developments and robust revenues, improving margins due to cost rationalization measures and a strong pipeline, we expect the stock to outperform in upcoming quarters. Hence, we retain our BUY rating on the stock with a revised target price of Rs. 548 based on 16x FY22E EPS.

10:54 AM

NEWS ALERT :: Cairn Energy wins $1.2 Bn in damages from the Indian Govt

In a major setback, Indian government has lost arbitration to energy giant Cairn under the retrospective tax amendment to the law in a verdict that came late night on Tuesday. India has been asked to pay damages worth Rs 8,000 crore to the UK oil major. The verdict comes three months after India lost arbitration to Vodafone over the retrospective legislation. READ MORE

10:47 AM

Market View :: N S Ramaswamy, Head of Commodities, Ventura Securities on gold

Over the past four months period, MCX Gold price has fallen from Rs 56,100 to Rs 47,800 levels and is currently taking support at Channel line and 200 day moving average. Also, on monthly chart, price pattern has formed like bullish flag pattern. Going forward, we expect next leg of rally would start once it breaks above Rs 53,000 levels on a weekly basis. On the upside, it will face an immediate resistance at Rs 56,200 levels and after tha, the price will march towards Rs 63,000 to Rs 65000 over next one to two years period. On the other hand, if it breaks below the channel line support can expect price will drag down towards Rs 44,200 levels first, and after that Rs 40,500 levels over next one to two years period.

10:43 AM

Auto stocks gain traction; Ashok Leyland, TVS up 3%

10:30 AM

Nifty Realty index best sectoral performer, rallies over 3%

10:25 AM

Tech stocks dazzle :: TCS, Infosys, HCL Tech, Tech Mahindra hit new highs

Tata Consultancy Services (TCS), Infosys, HCL Technologies, Tech Mahindra, Larsen & Toubro (L&T) Infotech and MphasiS from the Nifty IT index hit their respective fresh record highs. Birlasoft and Persistent Systems from the non-index stocks, too, hit new highs today. READ MORE