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

All that happened in the markets today

12:34 PM

SECTOR WATCH:: Nifty Private Bank index up 3%

12:23 PM

BUZZING STOCK | Birla Corp jumps 17%

12:16 PM

MARKET UPDATE:: BPCL trades near day's high

12:15 PM

NEWS ALERT | Air India cancels 92 flights between May 28-31 which includes some flights for Chennai, Mumbai & Kolkata: CNBC TV18

-- Cancellations due to unavailability of slots at major airports

12:07 PM

Torrent Pharma slips 6% on profit-booking; outlook remains a concern

The management said Q4 margins expansion was largely from the synergies of the acquired Unichem portfolio, incremental productivity, and cost control. Revenues; however, grew in single digit by 5 per cent to Rs 1,946 crore from Rs 1,856 crore in the year-ago quarter. READ MORE

12:02 PM

Cash holdings of PMS schemes dip in April as markets rebound, data shows

Cash holdings for 13 PMS schemes, however, rose in April over the previous month. “This could be due to fresh investments by investors who wanted to deploy more cash to take advantage of the prevailing situation and fund managers playing it safe in anticipation of a further fall,” said PMS Bazaar in a note. READ MORE

11:49 AM

MARKET UPDATE:: Berger Paints slips over 2%

11:44 AM

NEWS ALERT :: Tata Steel terminates contract with Fitch Ratings

>> Tata Steel Limited has terminated the contract with Fitch Ratings in early May 2020 and has not engaged in any ratings related discussions with their representatives. Hence, any recent revision in ratings announced by them in respect of the Company are on an unsolicited basis and do not warrant any disclosures from the Company.

>> The Company is in compliance with the applicable disclosure requirements under the Listing Regulations. Accordingly, we request you to treat this matter as closed.

(Via BSE filing)

11:36 AM

NEWS ALERT :: SBI cuts retail term deposit rates by 40 bps, bulk term deposit rate by 10-50 bps, reports CNBC TV18

11:31 AM

Bata: Despite subdued Q4, hope of faster recovery may keep sentiment intact

There is no doubt that businesses across industries will take at least a couple of quarters to recover, but the ones that show promise of faster recovery will grab investor attention. Bata could be such an example.

 

Though the company’s March 2020 quarter (Q4) earnings — announced on Monday, a market holiday — were below expectations, its stock ended Tuesday with 0.8 per cent gains even as leading indices slipped marginally. READ MORE

11:21 AM

ED charge sheet: Franklin Templeton in a fix over YES Capital loans

Franklin Templeton MF’s investments in YES Capital, a Rana Kapoor firm, have come under regulatory glare. Schemes among the six wound up by the fund house had given a loan of Rs 518 crore against non-convertible debentures (NCDs) to the firm in March 2019, according to the Enforcement Directorate’s (ED’s) charge sheet in the YES Bank fraud case. READ MORE

11:14 AM

Bajaj Finance, Bajaj Finserv hit over 2-year lows, recover later

Shares of Bajaj Finance slipped 2.6 per cent at Rs 1,783, its lowest level since April 2, 2018, while Bajaj Finserv slipped 3 per cent to Rs 3,986, its lowest level since July 28, 2017 on the BSE. Thus far in the calendar year 2020, these stocks have fallen 58 per cent, as compared to 26 per cent decline in the S&P BSE Sensex. READ MORE

11:05 AM

MARKET UPDATE:: India VIX slips 3% to 30.48 levels

11:04 AM

NEWS ALERT :: Future Retail approves raising up to Rs 650 cr via NCDs

>> Co says Board approved resolution to issue secured /unsecured redeemable non-convertible debentures (NCDs) on private placement basis for an amount aggregating upto Rs. 650 crore in one or more tranches from time to time mainly to replace its existing high cost current or near term maturity debts requirements.

10:58 AM

MARKET CHECK :: Indices stage recovery