HDFC Bank, RIL help Sensex settle 478 pts higher; Nifty ends at 11,385

All that happened in the markets today

11:45 AM

BROKERAGE VIEW:: Emkay Global on Berger Paints

RATING: SELL | TARGET PRICE: Rs 450 

Berger Paints has a strong track record with consistent performance. However, a 20% valuation premium to APNT with a similar growth outlook appears unjustified. We maintain Sell with a revised TP of Rs 450 (from Rs 430), rolling forwards to Sept’22E EPS.

11:43 AM

BROKERAGE VIEW:: HDFC Securities on Dilip Buildcon

RATING: BUY | TARGET PRICE: Rs 466

We maintain BUY on Dilip Buildcon, with a target price of Rs 466/sh, given its strong and diversified order book of Rs 261 bn and continued focus on asset recycling. We have valued EPC business at 8x FY22E EPS and HAM at 1x P/BV.

11:42 AM

Feel good investment: Social, sustainability bonds surge in Covid-19 world

According to a Moody's Investor Service report, record quarterly issuance of both social bonds at $33 billion and sustainability bonds at $19.1 billion drove the strong combined total. Though cumulatively, it is still modest compared to the last year. Green bond issuance, on the other hand, was $47.8 billion, a 26 per cent increase over the first quarter, but still modest compared with last year. “Combined social and sustainability bond volumes could now total $150 billion in 2020 as coronavirus (Covid-19) pandemic response efforts and heightened awareness of social issues related to healthcare and inequality continue to support issuance,” said the report. READ MORE

11:30 AM

CG Power: Investors should keep an eye on progress in deal completion

The news of Tube Investments of India (TII) acquiring a controlling stake in CG Power boosted sentiment. CG Power has gained 30 per cent, while TII shares are up over 16 per cent since the announcement, with the Street viewing it as a win-win deal. CG Power gets a stronger parent, while TII gets a larger business and growth opportunity, albeit with its share of risk. CG Power, which provides power and industrial system-related services, has struggled largely with stress in its European operations. READ MORE

11:15 AM

In focus: Mangalam organics hits 52-week high, Gujarat Alkalies leaps 10%

"...the anti-dumping duty imposed under this notification, with respect to China and Korea, shall remain in force up to and inclusive of the 17th November, 2020, unless revoked, superseded or amended earlier," the department of revenue said in a notification issued on Monday. Directorate General of Trade Remedies (DGTR) had requested for extension of the existing anti-dumping duty on the chemical imported from China and Korea. READ MORE

11:13 AM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
PNB HOUSING	263.60	9.54
SUNTECK REALTY	233.80	9.41
GUJARAT ALKALIES	349.00	8.67
TIME TECHNOPLAST	41.75	7.19
GRASIM INDS	667.00	6.79

11:00 AM

Balaji Amnies, Alkyl Amines: Specialty chemical stocks have more steam left

Balaji Amines Limited (BALAMINES): Since the counter hit a new all-time high, the rally has got even stronger. The price is not showing any weakness despite the Relative Strength Index (RSI) being in an overbought condition. The trend looks positive and even volumes support this movement. The immediate support comes at Rs 780 and then Rs 740 levels. The chart suggests Rs 1,000 levels could be scaled in the sessions ahead. READ MORE

10:49 AM

PNB Housing Finance leaps 11% as board to consider fund raising tomorrow

Shares of PNB Housing Finance zoomed as much as 11.7 per cent to Rs 268.85 on the BSE on Tuesday as the company's board is set to meet tomorrow to consider fund raising. At 10:15 AM, the stock was trading 10.45 per cent higher at Rs 265.80 as compared to 0.57 per cent gain in the S&P BSE Sensex. Around 18.52 lakh shares have changed hands on the NSE and BSE, combined, so far. READ MORE

10:37 AM

25% equity plans make less than 5% allocation to Reliance Industries

The Mukesh Ambani-led firm’s stock has more than doubled from its March lows and quadrupled since December 2016. It had a weighting of 14 per cent on the Nifty50 index as of July 31, and its market capitalisation was close to a tenth of the market cap of India’s listed universe. READ MORE

10:26 AM

MARKET CHECK

10:14 AM

Bandhan Bank gains over 2% as RBI lifts restrictions on CEO's remuneration

At 9:34 am, the stock was trading 1.8 per cent higher at Rs 292.6 apiece on the BSE as against 205 points, or 0.54 per cent, rise in the benchmark S&P BSE Sensex. A combined 4.12 million shares had changed hands on the counter on the NSE and BSE till the time of writing of this report. READ MORE

10:04 AM

Rupee Opening

Rupee opens higher at 74.78 per US dollar vs Monday's close of 74.89/$

10:01 AM

Petronet LNG gains 5% after June quarter earnings, pares gain later

Shares of Petronet LNG gained as much as 5 per cent to Rs 267.70 apiece on the BSE on Tuesday after the company posted an 11 per cent decline in its consolidated net profit at Rs 499.79 crore for the quarter ended June 2020 (Q1FY21). The company had posted a profit of Rs 561.94 crore in the year-ago period. At 09:24 AM, the stock was trading over 2.5 per cent higher at Rs 261 on the BSE. In comparison, the benchmark S&P BSE Sensex was trading 0.5 per cent higher at 38,237.10 levels. READ MORE

9:57 AM

RIL gains over 1% in early deals

9:51 AM

BUZZING STOCK:: Zee Entertainment surges 5% ahead of Q1 results announcement later in the day