F&O expiry: Sensex soars 997 pts on Covid-19 drug hopes; auto, IT stks gain

All that happened in the markets today

2:12 PM

Rupee closing

Rupee ends higher at 75.12/$ vs Wednesday's close of 75.68 against the US dollar

2:08 PM

India's scrap gold supplies at record high on price rally, coronavirus: WGC

Rising scrap supplies, amid a fall in demand could, however, dent the world's second-biggest bullion consumer's imports and cap a rally in global prices, which hit a more than seven-year high earlier this month. Falling bullion imports could help reduce India's trade deficit and support the ailing rupee. READ MORE

1:57 PM

BUZZING STOCK | UPL jumps around 7% post update on debt position

>> The Company expects its Net Debt to be at approx. USD 2.9 Bn as of 31st March 2020 as compared to USD 3.8 Bn as of 31st March 2019 and USD 4.2 Bn as of 31st December 2019. The same represents a reduction in Net Debt of approx. USD 900 Mn and USD 1.3 Bn as compared to 31st March 2019 and 31st December 2019, respectively. (Source: BSE filing)

1:54 PM

NEWS ALERT :: RBI extends truncated forex market hours till further notice

1:48 PM

Bulk maturities for 3 Franklin Templeton MF schemes after 2 years

nvestors in the six wound-up schemes of Franklin Templeton Mutual Fund (MF) can face wide differences in timelines on receiving payments through maturities of portfolio investments, with the bulk of maturities for three schemes expected in two years’ time. READ MORE

1:42 PM

BROKERAGE VIEW:: HDFC Securities on Sadbhav Engineering

Sadbhav Engineering Ltd (SEL) has announced a management rejig with Mr Vasistha Patel (VP) being appointed as CEO and Mr Shashin Patel stepping down as Chairman and MD to Vice Chairman in non executive capacity. We perceive this as a positive step with VP getting iron hand on execution and promoter SP dissociating himself from day to day run. SEL BS has deleveraged post the SIPL deal and now VP has immediate challenge of ramping up execution against the COVID-19 headwinds. We maintain BUY with SOTP of Rs 56/sh.

1:34 PM

MF redemptions in dent segment continue despite RBI's liquidity window

According to the data, the asset base of credit risk funds on Tuesday shrunk another 11 per cent, following erosion of Rs 4,869 crore.

 

Other debt categories are also witnessing redemption pressure. The asset base of medium-duration fund declined 6 per cent or Rs 1,479 crore on Tuesday. For the low-duration category, the asset base was down 3.13 per cent or Rs 2,475 crore. READ MORE

1:29 PM

MARKET CHECK | Top 5 gainers on the BSE at this hour

1:23 PM

NEWS ALERT | SpiceJet has decided not to cut job at the airline at this time

>> SpiceJet with its limited cargo operations during the lockdown period, will pay part salaries to over 92% of its employees.

>> The Company has devised a structure where all employees will be paid according to the work hours contributed while maintaining basic thresholds.

(Via company statement)

1:20 PM

HDFC Bank, Bharat Forge: How to trade auto, bank stocks in current market

NIFTY AUTO : With a strong formation of a 'Double Bottom' on the daily chart, the index has managed to strongly bounce back. Going ahead, the index can even gain ground around 5,200 levels, thus establishing a strong buying base. Further, as it crosses 5,700 levels, which is its immediate resistance, a decent rally may further push the index towards 6,100 and then 6,300 levels. READ MORE

1:12 PM

BROKERAGE VIEW:: Edelweiss Securities on Hexaware Technologies

We believe Hexaware has made a smart acquisition in Mobiquity, which gives the company potent capabilities to enter the digital transformation market. However, dependence on BFSI and current COVID-19 situation imply significant challenges in the near term. At 14x CY20E EPS, the stock is fairly priced, in our view in current uncertainty. We maintain ‘HOLD/SP’ with revised target price of Rs 285 (14x Q2CY21E EPS). 

1:09 PM

NEWS ALERT :: Reserve Bank extends regulatory benefits under SLF-MF scheme to all banks

12:59 PM

Reliance Industries gains 3% ahead of Q4 results

12:47 PM

MARKET UPDATE:: Broader indices underperform

12:41 PM

Just Dial soars 9% as board approves buyback at Rs 700/ sh via tender offer

Shares of Just Dial moved 9 per cent higher in the intra-day trade to Rs 425, on the BSE on Thursday after its board approved buyback of shares at Rs 700 per share via tender offer. “The board today approved the proposal for buyback of up to 3.14 million equity shares, representing 4.84 per cent of the total paid-up equity share capital of the company, at a maximum price of Rs 700 per share, for an aggregate maximum amount of up to Rs 220 crore through the tender offer route,” Just Dial said in an exchange filing. READ MORE