Sensex ends 416 pts higher as financials gain on Rs 50k cr lifeline for MFs

All that happened in the markets today

11:02 AM

NEWS ALERT

11:01 AM

RIL's m-cap increases by Rs 1.5 trillion in four days post Facebook deal

A sharp rally in stock price has seen the market captialisation (market-cap) of RIL increase by Rs 1.5 trillion in four trading days. The company’s market-cap stood at Rs 9.35 trillion in the intra-day trade today, from Rs 7.83 trillion on April 21, 2020, the exchange data shows. READ MORE

10:43 AM

Franklin MF fiasco: RBI rolls out Rs 50k crore liquidity window for MFs; Bank stocks gain

Financial stocks including Axis Bank, ICICI Bank, and IndusInd Bank surged up to 6 per cent on the BSE on Monday after the Reserve Bank of India announced a Special Liquidity Facility (SLF) for Mutual Funds worth Rs 50,000 crore. "Under the SLF-MF, the RBI shall conduct repo operations of 90 days tenor at the fixed repo rate. The SLF-MF is on-tap and open-ended, and banks can submit their bids to avail funding on any day from Monday to Friday," the RBI said in a statement. READ MORE

10:32 AM

MARKET UPDATE:: Sensex at day's high, reclaims 32k

10:31 AM

Nifty Bank index jumps over 2% post RBI announcements

10:21 AM

NEWS ALERT | RBI's announcement is a confidence-boosting measure: AMFI chairman Nilesh Shah

-- Mutual funds will continue to function normally

-- In 2013, when RBI announced similar measures, funds didn't use the credit line

(as told to CNBC TV18)

10:18 AM

The SLF-MF details

• This special repo window will be available to all LAF eligible banks against eligible collateral and can be availed only for on-lending to Mutual funds.

• The eligible banks may place their bids electronically on the CBS platform between 9 AM and 12.00 Noon every day. An LAF Repo issue will be created every day for the amount remaining under the scheme (Amount remaining = Rs 50,000 crores-cumulative amount availed up to the previous day). The bidding process, settlement and reversal of SLF-MF repo would be similar to the existing system being followed in case of LAF/MSF.
• In case of over-subscription of the notified amount on any given day, the allotment will be done on pro-rata basis. RBI will, however, reserve the right to inject marginally higher amount than the notified amount due to rounding effects.
   
• The minimum bid amount would be Rupees one crore and multiples thereof. The allotment would be in multiples of Rupees one crore.
• A market participant can place bids of amount less than or equal to the notified amount of the issue announced on a given day. RBI will reject bids of the participant if the total bid amount submitted by the participant exceeds the notified amount of the issue. The amount utilized as on previous date will be informed to market participants in the Money Market Operations (MMO) press release.

10:09 AM

NEWS ALERT :: RBI announces Special Liquidity Facility worth Rs 50,000 cr for MFs

10:08 AM

ICICI Prudential gains 10% upper circuit even as Q4 net profit declines 31%

For the month of March, the insurer’s new business premium fell 32 per cent to Rs 983 crore compared to Rs 1,451 crore in March, 2019. New business received premium of the company saw a healthy growth of 20 per cent to Rs 12,348 crore in FY20 compared to Rs 10,252 crore in FY19. The annuity new business premium registered a growth of 52 per cent to Rs 1,043 crore in FY20 compared to Rs 685 crore in FY19. READ MORE

10:01 AM

Motherson Sumi surges over 5%

9:52 AM

Mindtree leaps 9% on better-than-expected Q4 earnings amid Covid-19 woes

The mid-tier IT firm reported revenues at $278.4 million, a 1.9 per cent rise in constant currency term over the previous quarter. Operating margin, meanwhile, improved 150 basis points sequentially to 17.1 per cent in Q4FY20. The company reported earnings before interest, taxes, depreciation, and amortization (Ebitda) margin expansion of 250 basis points QoQ, and record deal wins of $393 million during the quarter despite the Covid-19 disruption. READ MORE

9:43 AM

Change in the air: Nifty50 could see one of its biggest rejig, say analysts

The Nifty50 could see one of its biggest rejig, predict analysts at ICICI Direct. The sharp correction in equities because of the Covid-19 pandemic has seen the market cap of several existing components fall sharply.

 

The free-float market cap of many other stocks, which are currently not part of the index, has surged past them. Index inclusion prospects are tied to free-float market cap (total market cap minus value of shares held by promoters or those under lock-in). READ MORE

9:30 AM

IRB Infra rallies 4% on fund raising proposal

IRB Infrastructure on Sunday said its board has approved raising up to Rs 2,500 crore to fund ongoing and planned capex and for general corporate purposes in the wake of lockdown due to COVID-19 pandemic.

9:29 AM

Mindtree surges over 7% post Q4 nos

9:27 AM

IndusInd Bank gains 3% ahead of Q4 result