MARKET WRAP: Financials propel Sensex 996 points up; Nifty reclaims 9,300

All that happened in the markets today

2:07 PM

Rupee Closing

Rupee ends near day's low at 75.72 per US dollar vs Tuesday's close of 75.66/$

2:02 PM

MARKET CHECK

1:57 PM

MARKET UPDATE | Sun Pharma trades 0.5% higher ahead of March quarter results

1:55 PM

Global energy investment may see a record fall in 2020 over Covid-19: IEA

The Paris-based IEA said this could have serious repercussions for energy security and the transition to clean energy as the global economy recovers from the pandemic.

 

Governments are easing restrictions put in place to curb the spread of the virus after the confinement of around 3 billion people brought the global economy to a near standstill. READ MORE

1:47 PM

MARKET UPDATE :: Nifty tops 9,200-mark

1:43 PM

MARKET UPDATE:: Sensex extends gains, surges 600 points

1:37 PM

This Pidilite Industries-promoted stock has rallied over 100% in one month

In the past one month, the stock of the firm engaged in chemical business has zoomed 111 per cent from a level of Rs 51.66, as against 2.3 per cent decline in the S&P BSE Sensex. It rallied 50 per cent in the past week. The stock had hit an all-time high of Rs 136 on May 2, 2018. READ MORE

1:32 PM

BROKERAGE VIEW:: HDFC Securties on Torrent Pharma

Rating: ADD | Target Price: Rs 2,605

Torrent’s Q4 Adj. PAT came ahead of expectations driven by higher margins and lower tax. Torrent’s EBITDA margin (27.3% in FY20, +100bps YoY) are best among peers and are further set to expand led by improving MR productivity and price led growth in India business. We expect FCF generation of ~Rs 47bn over next two years to lower net debt/EBITDA to ~0.3x by FY22e from ~1.8x in FY20. We increase our EPS estimates by 4-7% for FY21/22e on account of resilient margins aided by cost control efforts. We revise our TP to Rs 2,605 based on 16x EV/EBIDTA based on FY22 estimates.

1:26 PM

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

1:16 PM

Sensex Heatmap at this hour :: Axis, ICICI Bank surge over 5%

1:08 PM

Europe trades largely higher in early deals

1:02 PM

BROKERAGE VIEW:: Edelweiss Securities on Just Dial

We believe that Q4FY20 results and management commentary thereof on cost control demonstrate JD’s ability to strengthen the business in adversity. The company is using employee resources to enrich content on its platform, particularly in the B2B vertical. This would help JD garner a higher market share once the economy recovers. Considering the stock’s current reasonable valuation (9.9x FY22E EPS) and the company’s ability to improve margin, in spite of low revenue growth, we maintain ‘BUY/SO’ with a revised TP of Rs 575.

12:55 PM

GSK Pharma: Near term headwinds may keep stock prices under pressure

The GlaxoSmithKline Pharma (GSK Pharma) stock has dipped 7 per cent from its May highs, on worries that lower incidence of acute infections could lead to a fall in sales. Some brokerages have downgraded the stock due to a weak near-term outlook. READ MORE

12:46 PM

NEWS ALERT :: Axis Bank clarifies on reports of fund infusion by PE firm Carlyle

>> Says, news item is speculative and the Bank has not taken any such decision in this regard

12:40 PM

MARKET CHECK