MARKETS: Financials drag indices, Sensex slips 81 pts; midcaps outperform

All that happened in the markets today

10:21 AM

BROKERAGE VIEW:: Edelweiss Securities on Siemens

Access to robust global product portfolio and favourable transformation in domestic industrial capex driving demand for smart products/solutions in post COVID-19 era will benefit Siemens. We maintain ‘BUY/SO’ with TP of Rs 1,425 (45x June 2020 EPS).

10:19 AM

IRCTC hits 5% upper circuit as booking for train reservation to resume

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) were locked in the upper circuit band of 5 per cent at Rs 1,302.85 apiece on the BSE in the early trade on Monday after Ministry of Railways announced that the Indian Railways will gradually restart passenger train operations from May 12, initially with 15 pairs of trains. READ MORE

10:13 AM

Reliance Industries: Charts indicate a rally towards Rs 2,000 levels

Mukesh Ambani-controlled Reliance Industries (RIL) has been in news over the past few weeks. With the over Rs 53,000 crore investment by Facebook in Jio Patforms - a part of its telecom vertical Reliance Jio (RJio), quarterly results and then investments by Silver Lake and Vista Equity. READ MORE

10:09 AM

NEWS ALERT | FM's meet with banks due today afternoon, postponed to later this week: CNBC TV18

10:07 AM

Rupee Opening

>> Rupee opens marginally weaker at 75.60 per US dollar vs Friday's close of 75.54/$

>> 6.45%, 2029 bond yield at 6.22% Vs Friday's close of 5.96%, rises to highest level since April 22

10:00 AM

RIL nears record high ahead of rights issue, zooms 84% from March low

Shares of Reliance Industries (RIL) gained 3.4 per cent at Rs 1,615 on the BSE on Monday after the company fixed Thursday (May 14) as the record date for determining shareholders eligible to apply for its rights issue of Rs 53,125 crore. The stock was trading close to its record high of Rs 1,618, touched on December 20, 2019. READ MORE

9:49 AM

Covid-19 impact: A two-quarter wait before growth picks up

The 22 per cent rise in the Nifty after the sharp fall in March comes amid monetary and fiscal stimuli by various countries and a calibrated relaxation by the Indian government and the central bank. Still, most economic indicators are flashing red, highlighting the pain in the economy. READ MORE

9:41 AM

ICICI Bank dips 2% in an otherwise firm market post March quarter results

The bank’s pre-tax profit stood at Rs 1,423 crore as opposed to Rs 782 crore in Q4FY19, while net profit was Rs 1,221 crore against Rs 969 crore. Analysts polled by Bloomberg had estimated a net profit of Rs 3,510 crore. However, excluding coronavirus-related provisions, the bank’s profit after tax would have been Rs 3,260 crore. READ MORE

9:37 AM

MARKET UPDATE:: Nifty reclaims 9,400 level

9:35 AM

Nifty Auto index advances, led by Motherson Sumi, up 7%

9:27 AM

Result Impact | HDFC AMC sheds 2%

>> HDFC Asset Management Company (AMC) — the country’s second-largest asset manager — reported profit before tax (PBT) of Rs 425 crore in the March quarter, a marginal year-on-year improvement of 0.13 per cent. 

9:25 AM

Lupin trades mildly higher

>> The drug major on Friday (8 May 2020) informed that the inspection of its three units at Pithampur in Madhya Pradesh by the UK health regulator has been completed.

9:23 AM

IRCTC hits 5% upper circuit as passenger trains to resume

9:22 AM

Result Impact | ICICI Bank slips 1% in early trade

>> ICICI Bank on Saturday reported a 26 per cent rise in standalone net profit at Rs 1,221 crore for the quarter ended March 2020. Total income during the quarter under review increased to Rs 23,443.66 crore, from Rs 20,913.82 crore in the same period of the preceding fiscal, ICICI Bank said in a regulatory filing.

9:21 AM

Reliance Industries fixes May 14 as record date for Rights issue; stock gains over 2%