MARKETS: Sensex leaps 895 pts from day's low, settles 453 pts up at 46,007

The broader Nifty50, on the other hand, clawed back above the 13,400-mark and closed at 13,466 level, up 138 points or 1.03 per cent

12:57 PM

Manappuram Finance raises Rs 400 cr via bonds

Manappuram Finance on Tuesday said it has raised Rs 400 crore by issuing bonds on private placement basis. The Financial Resources and Management Committee of the board of directors of the company has approved the allotment of 4,000 rated, secured, redeemable non-convertible debentures aggregating to Rs 400 crore, Manappuram Finance said in a regulatory filing. (Text Source: PTI)

12:47 PM

NIIT gains 7% as board set to consider share buyback on December 24

Shares of NIIT traded 7 per cent higher at Rs 184 on the BSE on Tuesday after the company announced that it has scheduled a meeting of the board of directors on December 24, 2020 to inter alia consider proposal for buyback of equity shares of the company. At 12:03 pm, the stock was trading 3 per cent higher at Rs 178, as compared to 0.62 per cent decline in the S&P BSE Sensex. A combined 1.8 million equity shares were changing hands on the counter on the NSE and BSE. READ MORE
 

12:40 PM

Sadbhav Engineering JV lowest bidder for Rs 780-cr Surat Metro project

Sadbhav Engineering on Tuesday said its joint venture (JV) firm has been declared the lowest bidder for construction of part of the Surat Metro project worth Rs 780 crore by the Gujarat Metro Rail Corporation. "We have been declared as lowest bidder by Gujarat Metro Rail Corporation (GMRC) Ltd for construction of 11.6 km elevated viaduct... and 10 stations for Surat Metro Rail Project phase-1... in the name of SEL-SPSCPL Joint Venture," the company said in a regulatory filing to the BSE. (Text Source: PTI)

12:35 PM

Analysts cheer Colgate's growth plans and focused product innovation

At least 10 brokerages hiked their target price estimate (average Rs 1,670) for Colgate-Palmolive (India) over the weekend as the toothpaste leader highlighted its efforts to drive profitable growth.

 

The latter has come as a pleasant surprise given that Colgate's volumes, after growing between 9 per cent and 14 per cent during FY08-FY14, have seen a sharp deceleration to between -1.5 per cent and 5.5 per cent during FY15-FY20. READ MORE

12:23 PM

Returns will be much more modest from here: Motilal Oswal's Raamdeo Agrawal

"Returns will be much more modest from here. Valuations were depressed at 8,000 (Nifty 50 index) levels. It was a free ride to 12,000 levels. What went down had to come up. Now fundamentals have to support further gains," he said. READ THE FULL INTERVIEW HERE

12:13 PM

MARKETS AT NOON:: Sensex near day's low

12:08 PM

New coronavirus strain found in Sep, may already be there in India: Experts

Speaking to Business Standard, Dr Rakesh Mishra, director of the Centre for Cellular and Molecular Biology (CCMB), says, the new variant has changed the part of its spike protein called receptor-binding domain and it is spreading more efficiently.

 

"From what we know so far, the mutation is worrying many for two reasons. For one, it appears the virus is finding the cell receptor more quickly, therefore gaining faster access to enter inside. The other thing is the viral load in the new strain, that is the viral particles in the infected individual is much higher, which leads to more replication inside the cells and people are likely to shed more of it onto others" says Dr Mishra. READ MORE

11:57 AM

NEWS ALERT :: ICRA upgrades JSPL’s long-term rating to 'BBB+' from 'BBB-; outlook stable

11:46 AM

PVR, Inox Leisure tumble up to 16% in 2 days over Covid-19 fears

Shares of multiplex operators PVR and Inox Leisure slipped up to 16 per cent in the past two trading days amid fears over new Covid-19 strain that shut down much of Britain. Shares of PVR fell 9 per cent to Rs 1,212 on the BSE in intra-day trade on Tuesday, down 16 per cent in the past two sessions. Meanwhile, the stock of Inox Leisure was down 5 per cent at Rs 253 on the BSE today, declining 10 per cent from Friday's close. READ MORE

11:37 AM

Chart check: Bull-run may not be over just yet for Sensex, Nifty

S&P BSE SENSEX: The medium-term trend is bullish till the index defends 44,000 levels. Although, the Relative Strength Index (RSI) showed some weakness in the overbought condition, the index is not showing exaggerated weakness that might get carried forward. One can expect profit booking at higher levels of 46,000 ahead. That said, the overall trend seems to possess bullish sentiment and any minor dip is expected to see buying momentum. READ MORE

11:27 AM

BS Podcast | 2021 Outlook: Covid vaccine, economic recovery, earnings to drive markets

The market crash in March 2020 resulted in stocks being available at throwaway prices, opening up attractive investment opportunities. Moreover, as the Reserve Bank of India kept interest rates low during the year, flood gates of liquidity were thrown open. The result? Both, the Sensex and the Nifty50 indices, are up nearly 80 per cent from March 2020 low. In the broader market, the Nifty MidCap index has surged around 90 per cent, while the Nifty SmallCap index has jumped a massive 109 per cent during the period. LISTEN TO THE PODCAST HERE

11:16 AM

Buzzing Stock | Shipping Corp shares rally 6% as govt invites EoI

• Govt invites EoI for SCI by Feb 13
• Shares were trading 3.63 per cent higher at 11.16 am on the BSE at Rs 85.55.

11:08 AM

Embassy REIT raises Rs 3,680 cr to part fund acquisition of IT park

Embassy Office Parks REIT has raised Rs 3,680 crore (USD 501 million) through sale of units to institutional investors and will use this amount to partly fund its acquisition of IT park 'Embassy TechVillage' in Bengaluru. Embassy REIT is India's first publicly-listed REIT (Real Estate Investment Trust) sponsored by Blackstone and Embassy group. It got listed on stock exchanges last year. (Text Source: PTI)

 

10:56 AM

Market Watch :: BSE Finance worst sectoral performer; IDBI Bank biggest loser

10:45 AM

SpiceJet skids 19% in two days as India suspends UK flights till Dec 31

Shares of SpiceJet slipped 10 per cent to hit an intra-day low of Rs 82.35 on the BSE in the early morning trade on Tuesday, falling 19 per cent in the past two trading days, after India suspended flights to and from the UK. India has suspended all flights from the UK from Tuesday midnight (December 22) till December 31 to prevent the new aggressive strain of the novel coronavirus from entering the country. This may lead to lower traffic recovery. READ MORE