Financial stocks lift indices, Sensex gains 364 pts; Nifty ends at 11,466

All that happened in the markets today

10:51 AM

Indiabulls Housing Finance up 3% after Q1 nos; other group stocks gain too

At 10:24 AM, the stock was trading nearly 1.5 per cent higher at Rs 206.10 on the BSE. It hit a high of Rs 209.75 in the early trade. In comparison, the S&P BSE Sensex was trading over 0.5 per cent higher at 38,636.55 levels. READ MORE

10:37 AM

Bank stks in focus; Nifty Bank adds over 1%; Union Bank jumps 6%, SBI up 1%

Bank stocks such as Federal Bank, State Bank of India, HDFC Bank, and Axis Bank were trading higher on Monday, rising up to 2 per cent. At 9:38 am, Nifty Bank and Nifty Private Bank indices were up 1.3 per cent each, and were the top sectoral indices on the National Stock Exchange (NSE). Nifty Public Sector Bank index, meanwhile, was up 0.5 per cent on the NSE. In comparison, the benchmark Nifty50 index was up 0.49 per cent. READ MORE

10:26 AM

Eicher Motors' 10-for-1 stock split takes effect; shares surge 10%

Eicher Motors surged 10 per cent to Rs 2,389 on the BSE on Monday after the stock turned ex-date for stock split in the ratio 1:10. The company has fixed August 25, 2020 as record date for the stock split. The company announced, on May 25, its stock split plan to make the stock more affordable for the small retail investors and increase liquidity. READ MORE

10:16 AM

Climbing on falling gas price: CGD firms, power producers to benefit

The regular decline in the global natural gas price means the price of domestic gas sold under the administered pricing mechanism (APM) may also be revised downwards starting October 1, 2020. The government reviews the domestic gas price after every six months, based on the average gas price in countries, such as the US, the UK, Canada, and Russia, during a specified period. READ MORE

10:07 AM

Rupee opening

Rupee opens lower at 74.91/$ vs Friday's close of 74.84 against the US dollar

9:57 AM

Gold rush 2020: ETFs now hold more yellow metal than any central bank

Exchange-traded funds backed by physical gold and silver accumulated more than $50 billion of bullion this year. ETFs now hold more gold than every central bank with the exception of the Federal Reserve.

 

That’s generated windfall fees for ETFs and has been a boon for everyone involved in the business of servicing those enormous hordes of shiny metal. That includes the financial firms that provide the funds to investors, through to the banks and security firms responsible for storing hundreds of billions of dollars worth of gold and silver beneath the streets of London. READ MORE

9:47 AM

Q&A :: Market recovery fragile; unwise to go for risky gains, says Motilal Oswal MD

After near 50 per cent rally in the frontline indices from March 2020 lows, RAAMDEO AGRAWAL, co-founder and joint managing director, Motilal Oswal Financial Services cautions the day the market realises that earnings won't come back in a hurry, they will go sideways, or may correct READ MORE

9:46 AM

Nifty Bank index rises over 1%

9:34 AM

Balaji Telefilms advances 4%

>> The Centre on Sunday announced standard operating procedures (SOPs) for resuming shooting of films and TV programmes

9:32 AM

Minda Industries slides 3% on weak Q1 nos

>> Minda Industries incurred loss of Rs 118.3 crore as against profit of Rs 53.5 crore, while revenue came in at Rs 417.1 crore, down sharply from Rs 1,439.7 crore YoY. 

9:31 AM

Godfrey Phillips up over 1%

>> Godfrey Phillips reported profit of Rs 55.10 crore for the June quarter of FY21 as against Rs 118.65 crore. It's revenue stood at Rs 462.57 crore, down from Rs 841.30 crore YoY.

9:30 AM

Result Impact | PNB trades nearly a per cent higher

>> Punjab National Bank on Friday reported standalone net profit of Rs 308.45 crore for the quarter ended June 2020 as against profit of Rs 1,018.63 crore logged in the year ago period. Provisions for bad loans more than doubled to Rs 4,836.40 crore from Rs 2,147.13 crore.

9:28 AM

ICICI Lombard trades higher

>> ICICI Lombard General Insurance Co. Ltd. will acquire Bharti AXA General Insurance Co. Ltd.’s non-life insurance operations in a share swap deal, according to a company statement issued on Saturday. Shareholders of Bharti AXA will receive two shares of ICICI Lombard for every 115 shares of Bharti AXA, as per the share exchange ratio recommended by independent valuers.

9:25 AM

Reliance Industries trades in the green

>> The company concluded amalgamation and merger amongst its wholly-owned subsidiaries -- Reliance Holdings USA with and into Reliance Energy Generation and Distribution. Merged entity - Reliance Energy Generation and Distribution has further merged into Reliance Industries, the company said in an exchange filing

9:24 AM

Eicher Motors trades higher on stick split