MARKET WRAP: Sensex gains 230 pts, ends above 39K level; auto stocks rally

All that happened in the markets today

2:26 PM

NEWS ALERT :: Edgefield Securities sells 2.84% stake in JK Tyre via open market on August 25

(As reported by CNBC TV18)

2:24 PM

MARKET UPDATE:: Sensex at day's high

2:20 PM

Indostar Capital Finance hits 52-week high; stock surges 37% in 7 days

On August 18, the company allotted 2,000, Secured, Redeemable, Non-Convertible, Rated, Listed, Taxable Bonds in the nature of Debentures of Face Value of Rs 10 lakh each, for cash, at par, aggregating to Rs 200 crore to State Bank of India on private placement basis. READ MORE

2:06 PM

Rupee Closing

Rupee ends at 74.30 per US dollar vs Tuesday's close of 74.32/$

2:04 PM

Phoenix Mills: Resumption uncertainty to keep stock under pressure

The Phoenix Mills stock was down about 11 per cent on Tuesday after the company's promoters sold a partial stake (7.3 per cent). Promoter holding in the company at the end of June quarter stood at just over 59 per cent.

 

The block deal comes close on the heels of a qualified institutional placement (QIP) last week which helped raise Rs 1,089 crore at Rs 605 per share. READ MORE

1:56 PM

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

1:42 PM

BROKERAGE VIEW:: LKP Securities on The Federal Bank

Despite substantial improvement in all major operating matrix, profitability may remain under pressure in FY21 led by the higher provision for LuM. We have incorporated higher provision requirement along with steady growth in balance sheet and thus expect it to deliver RoA/ RoE of ~1%/~13% by FY22E. In our view, maximum negatives are in the price and thus we recommend BUY with a TP of Rs 71 (based on 0.8x FY22E Adj. BVPS); a potential upside of 27%.

1:32 PM

European indices trade mixed

1:17 PM

GMM Pfaudler, Laurus Labs, Birlasoft: 13 BSE500 stocks that doubled in 2020

At a time when the return in the frontline indices have been nothing to write home about in calendar year 2020, the action has shifted to the mid-and small-cap stocks. While the S&P BSE Sensex has lost nearly 6 per cent YTD till August 25, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained around 1 per cent and 9 per cent, respectively during this period. READ MORE

1:08 PM

Should you buy LIC Housing Finance post Q1 nos? Here's what analysts say

Shares of LIC Housing Finance were trading flat with a positive bias in the afternoon deals on the BSE on Wednesday. The stock had settled over 8 per cent higher on Tuesday following its June quarter (Q1FY21) result announcement. For the quarter under review, LIC Housing Finance's profit before tax (PBT) rose 21 per cent to Rs 1,017.67 crore from Rs 840.89 crore in Q1FY20 while the net profit climbed 34 per cent to Rs 817.48 crore against Rs 610.68 crore in the year-ago period. READ MORE

12:56 PM

Indiabulls Housing Fin soars 8% on heavy volume; up 10% so far this week

Shares of Indiabulls Housing Finance surged 8 per cent in the intra-day trade, to quote at Rs 223 apiece, on the BSE on Wednesday on the back of heavy volume. At 12:25 pm, the stock was ruling 6.7 per cent higher at Rs 220.3 on the BSE, as against 0.03 per cent dip in the benchmark S&P BSE Sensex. A combined 46.31 million shares had changed hands on the counter on the NSE and BSE till the time of writing of this report. READ MORE

12:50 PM

BUZZING STOCK:: IndusInd Bank at day's high

12:43 PM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
INDOSTAR CAPITAL	318.00	15.09
DISH TV INDIA	10.93	9.96
TVS SRICHAKRA	1591.80	7.77
PARAG MILK FOODS	119.30	7.67
ASTER DM HEALTH.	150.00	7.60

12:32 PM

Why is illiquid Elcid Investments stock so valuable off-market?

Elcid Investments is a highly illiquid stock with hardly any trades -- the share has changed hands only 31 times since July 2011--on the exchange. The Mumbai-based company is currently trading at Rs 11.03 a share on the BSE, with a market capitalisation of merely Rs 20 lakh. Prima facie, it looks like a dud penny stock, with no investor willing to take a punt on. Are there no buyers for the stock? READ MORE

12:26 PM

MARKET UPDATE:: Broader indices continue to outperform benchmarks