MARKET WRAP: Sensex surges 835 pts, Nifty reclaims 11K; Nifty IT up over 3%

All that happened in the markets today

2:22 PM

Camlin Fine surges 11% in one week after it starts production at Dahej unit

Trading volumes on the counter more-than-doubled with a combined 733,000 equity shares changing hands on the NSE and BSE till the time of writing of this report. There were combined pending buy orders for 180,000 shares at 01:47 pm, exchange data show. READ MORE

2:15 PM

Rupee Closing

Rupee ends higher at 73.61 per US dollar vs Thursday's close of 73.90/$

2:08 PM

Q&A | Financial sector is in the middle of a perfect storm: Pankaj Murarka

Globally, we are witnessing a pullback in risk assets across the board after a ferocious rally in the last six months. After the sharp rally, equity markets are ahead of the real economy and we are witnessing profit-taking. It is a healthy correction in the bull-market and investors with a long-term view should use this pullback as an opportunity to invest in equities. As economies unlock and get back to their normalised level of activity, equities should do well over the next two-three years. READ MORE 

2:02 PM

BUZZING STOCK :: Nestle extends gains

1:54 PM

MARKET CHECK | Top gainers on the BSE at this hour

1:45 PM

Q&A | Automobile sales growth would sustain going ahead: Kansai Nerolac MD

The overall recovery in the entire economy is faster than expected. People have accepted that Covid-19 is going to be there like normal flu. You can see, barring a few segment, all other people are working, all shops are now opened. So, to that extent recovery is better than the what people had thought. Definitely for the paint industry, it is better than what we had also thought and better than other sectors/industries. We are back to our normal growth level which again, I would say is a pleasant surprise for us. Fear psychosis amongst consumers amid Covid-19 has also now lowered compared to a few months back. READ INTERVIEW HERE

1:34 PM

SECTOR WATCH :: Nifty Metal Index up over 2.5%

1:24 PM

Cipla surges 5% on USFDA approval for dimethyl fumarate DR capsules

Shares of Cipla surged 5 per cent to Rs 772 on the BSE in the intra-day trade on Friday after the company said it has received US Food & Drug Administration (USFDA) approval for the generic version of Biogens Tecfidera (Dimethyl Fumarate) DR capsules in the US. The drug, indicated for the treatment of relapsing forms of multiple sclerosis, had annual US sales of US$3.8 billion as per IQVIA MAT July 2020. READ MORE

1:15 PM

European indices sluggish at open

1:14 PM

Bihar Elections 2020 :: Results on Nov 10

>> Phase 1: Oct 28

>> Phase 2: Nov 3

>> Phase 3: Nov 7

1:13 PM

Bihar Elections 2020 :: Bihar polls in three phases from Oct 28

>> Maximum number of electors at one polling station reduced to 1000 from 1500

>> Polling time has been increased by an hour (7 am to 6 pm)

1:10 PM

Even as Covid-19 rages, Indian economy's animal spirits are stabilising

Five of the eight high-frequency indicators compiled by Bloomberg News gained last month, while two were unchanged and one deteriorated. That kept the needle on a dial measuring so-called animal spirits steady at 4 -- a level arrived at by using the three-month weighted average to smooth out volatility in the single-month readings. READ MORE

1:01 PM

NEWS ALERT :: RBI grants in-principle nod to set-up and operate Bharat Bill Payment Operating Unit to Vakrangee

Click here for details

12:57 PM

ICICI Securities on Suven Pharma

Suven Pharma has turned ex-bonus from September 25, 2020, pursuant to the board approval granted for the issue of bonus shares in its meeting held on September 16, 2020. The record date for the same has been fixed as September 28, 2020. The board has recommended the issue of bonus shares in proportion of one bonus share (face value of Re 1 each) for every equity share held (i.e. 1:1). Consequently, the share price has changed to Rs 369/share from Rs 738/share. Accordingly, our target price has also been revised to Rs 385/share from Rs 770/share earlier. After the recent run-up, the stock offers limited upside from here on. We change the recommendation from BUY to HOLD. Our target price is based on 22x FY22E EPS (revised) of Rs 17.5. We will revisit the target price for a possible change in the next update.

12:52 PM

Zydus Cadila gets USFDA nod for multiple sclerosis treatment drug

Zydus Cadila has received final approval from the United States Food and Drug Administration (USFDA) to market Dimethyl Fumarate delayed release capsules, (Tecfidera)in the strengths of 120 mg and 240 mg, Zydus Cadila, part of Cadila Healthcare group, said in a regulatory filing. READ MORE