MARKET WRAP: Sensex up 147 pts, Nifty holds 12,250; Infy gains nearly 1.5%

All that happened in the markets today

12:37 PM

Contribution to S&P BSE Sensex's gain today

12:31 PM

SC stays NCLAT order restoring Cyrus Mistry as Tata Sons' chairman

The Supreme Court on Friday stayed the NCLAT order restoring Cyrus Mistry as executive chairman of the Tata Sons. A bench of Chief Justice S A Bobde and Justices B R Gavai and Surya Kant agreed to hear Tata Sons' plea challenging the National Company Law Appellate Tribunal (NCLAT) decision and issued notices to Mistry and others. READ MORE

12:23 PM

NEWS ALERT | Zomato-Uber Eats deal in last lap; could close by month-end: CNBC TV18

12:20 PM

Tata Steel gains 2% as domestic sales volume grows 17% QoQ in December qtr

Shares of Tata Steel moved higher by 2 per cent to Rs 494 on the BSE on Friday after the company’s provisional domestic sales volume increased by 17 per cent sequentially in December quarter (Q3FY20) on improved market sentiment. “Sales volume to auto segment was maintained during the quarter. Branded product & retail segment grew 23 per cent quarter on quarter (QoQ) while industrial products and projects grew 12 per cent QoQ. Tata Steel India’s production volume was flattish on QoQ basis,” the company said in a press release. READ MORE

12:12 PM

Chart Check: Can QIP help Bharti Airtel stock to close above Rs 480?

Bharti Airtel's stock has never closed above Rs 480. Not even when the stock hit its lifetime high of Rs 498 in intra-day trade on November 2017. Back in 2007, the stock hit a high of Rs 479 and has crossed Rs 480 level over five times since, only to close below the said level, daily chart shows. It climbed to Rs 485.60 in December 2019, but again inched lower by the session's end. This establishes a selling pressure for Airtel's stock in the range of Rs 480 – Rs 500 levels as per the daily chart. READ MORE

12:00 PM

Nifty sectoral indices at this hour

11:59 AM

Tata Group stocks surge after SC observation in Cyrus Mistry case

COMPANY NAME	LATEST	HIGH	LOW	CHG (Rs)	CHG(%)	VALUE (rs CR)	VOLUME
TATA MOTORS	194.45	194.80	190.65	2.40	1.25	15.08	775728
TATA MOTORS-DVR	80.45	80.60	78.75	0.95	1.19	3.64	452545
TATA STEEL	493.45	493.90	479.95	10.45	2.16	19.59	397006
TATA POWER CO.	59.50	59.50	57.40	1.70	2.94	2.01	337901
TATA GLOBAL	341.10	342.70	329.80	12.60	3.84	6.27	183789
TATA CHEMICALS	688.10	693.60	677.65	12.65	1.87	3.30	47947

11:53 AM

NEWS ALERT | Supreme Court stays NCLAT order reinstating Cyrus Mistry as Executive Chairman of Tata Sons

>> NCLAT seems to have committed errors in adjudicating, says CJI

>> The appellate tribunal seems to lack powers to pass the directions that it has: CJI

>> Cyrus Mistry tells SC, we are not interested in relief; our contentions on wrongful removal, prejudice have been uploaded.

 

>> Says, We don't want to be reinstated

 

11:43 AM

MARKET UPDATE:: Nifty hits 12,300 for the first time

11:42 AM

Market check

11:35 AM

MARKET UPDATE:: Nifty hits fresh record high, approaches 12,300

11:27 AM

NEWS ALERT | SC requests K'taka HC to dispose off Vijay Mallya's asset sale case in 6 mths: ET Now

Alert: HC allowed DRT officer to sell 2.8% share worth Rs 1025 cr in United Breweries.

11:23 AM

Sterlite Technologies up 4% as arm acquires 13% stake in Israel-based ASOCS

According to the company's exchange filing, ASOCS is a pioneer in virtual Radio Access Networks (vRAN) and a provider of "fully virtualized, NFV-compatible virtual Base Station solutions for Enterprise and Telco-Networks".

 

The company did not disclose the transaction value, but said that the cash consideration would be paid in two tranches, one as on date, and one in May 2020. READ MORE

11:11 AM

BROKERAGE RADAR | NBFC Q3 preview by Emkay Global Financial Services

We expect NBFCs to report another soft quarter amid a slowing economy, limited availability of funds (especially from capital markets) and conservative lending practices. Weak AUM growth sequentially, along with consistent pressure on margins and elevated credit costs, will keep the bottom line under constraints, in our view. However, numbers are expected to be strong on a yoy basis due to an exceptionally weak Q3FY19 (quarter after the IL&FS default).

11:07 AM

BROKERAGE RADAR | IT services Q3 preview by Kotak Securities

The set-up for CY2020 has positives from potential improvement in US BFS demand and many verticals in healthy shape. Headwinds are in the form of weak Europe BFS, challenged clients in retail and noise and some potential impact on demand in the US presidential election year. In the usual course one can call the direction of business growth at the beginning of the year, though CY2020 appears to be a challenge noting various moving parts.