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

All that happened in the markets today

12:15 PM

NEWS ALERT :: DGTR recommends anti-dumping duty for 5 years on Choline Chloride imports from China, Malaysia, Vietnam

>> Jubilant Life Sciences had approached DGTR on Choline Chloride imports.

(Source: CNBC TV18)

12:00 PM

FDC jumps 6% after launching 2 variants of Covid-19 drug Favipiravir

Shares of drug firm FDC Ltd on Wednesday rose as much as 6.12 per cent to Rs 336.95 on the BSE after the company launched two variants of the Covid-19 drug Favipiravir under the brand names PiFLU and Favenza. The Drug Controller General of India (DCGI) had earlier approved the use of Favipiravir, an off-patent, oral antiviral drug that has been shown to quicken clinical recovery in Covid-19 patients with mild to moderate symptoms, FDC said in a statement to the exchanges yesterday. READ MORE

11:44 AM

Birla Tyres hits 5% upper circuit as Co to consider fundraising this week

The company's board will meet on August 28 (Friday) to consider capital raising options for an amount aggregating up to Rs 1,100 crore by way of equity or debt instruments, including non-convertible debentures, among others, Birla Tyres said. READ MORE 

11:27 AM

Interest Waiver Case | Govt seems to be hiding behind the RBI, observes RBI

>> Next hearing on Sept 1

11:26 AM

Interest Waiver Case | Centre has still not filed its response to the issue, says SC

>> Seeks ine week to file reply to plea seeking waiver of interest on interest

>> The Supreme Court observes that this problem arose on account of Govt-announced lockdown, it must clarify its position.

>> Ample powers are available with the Govt under the Disaster Management Act.

>> Stand of RBI so far is aligned with concerns of the the industry

11:24 AM

JMC Projects leaps 16% on bagging new order worth Rs 554 crore

Shares of JMC Projects leaped 16.2 per cent to Rs 62.2 apiece on the BSE on Wednesday after the company bagged new project orders worth Rs 554 crore. Among these, project worth Rs 315 crore was a 'Building Project' in South India, while Rs 239 crore worth project was a 'Factory Project' in Maharashtra. READ MORE

11:14 AM

Interest Waiver Case | Centre must clarify its position under the Disaster Management Act, says SC

>> Says, Centre should not think about only business, should also think about plight of people

11:11 AM

BUZZING STOCK:: Zee Entertainment up 5%

11:10 AM

NEWS ALERT :: SC begins hearing in interest waiver case

11:05 AM

5Paisa, Dolat Investments, Emkay Global: Time to look at brokerage stocks?

ICICI Securities Limited (ISEC): The counter has seen a surge in volume in the last two sessions. This indicates a buying interest of market participants as price is moving to the higher levels. The Moving Average Convergence Divergence (MACD) has crossed the zero line with price crossing resistance of Rs 505 levels. The subsequent resistance is at Rs 519, where the counter is expected to rally in the coming sessions as per the daily chart. The support stays at Rs 483 levels. READ MORE 

10:53 AM

Auto stocks rally as GST Council set to mull tax cut on two-wheelers

Shares of automobile companies were in focus at the bourses on Wednesday after Finance Minister Nirmala Sitharaman said the Goods and Services Tax (GST) Council would look into the auto industry’s demand for lowering the tax rate on two-wheelers, which are now taxed at the highest slab rate of 28 per cent. At 10:10 AM, the Nifty Auto index, the top sectoral gainer, was trading 1.44 per cent higher as compared to a flat Nifty50 index. READ MORE

10:38 AM

Can Fin Homes zooms 9% on healthy June quarter result, dividend bounty

Can Fin Homes shares zoomed up to 8.6 per cent to Rs 419.5 on the BSE on Wednesday after the housing finance company posted decent June quarter results on Tuesday, post market hours. The company also recommended dividend of Rs 2 per share. At 10:09 am, the stock was trading at Rs 402.6 per share, up 4.3 per cent, on the BSE, as against 0.09 per cent decline in the S&P BSE Sensex. READ MORE

10:29 AM

Bharti Airtel declines 2%

10:20 AM

VA Tech Wabag to raise Rs 120 crore; stock declines over 7.5%

Shares of Va Tech Wabag slipped as much as 7.56 per cent to Rs 210.10 apiece on the BSE on Wednesday, a day after the company said its board has approved the issuance of up to 75,00,000 equity shares on a preferential basis, at a price of Rs 160 per share aggregating Rs 120 crore. The proposed investors include marquee names and high net worth individuals (HNIs) such as Rekha Rakesh Jhunjhnwala, Basera Home Finance Private Limited, and Sushma Anand Jain Anand Jaikumar Jain (joint holding). READ MORE

10:08 AM

Rupee opening

Rupee opens flat at 74.31/$ vs Tuesday's close of 74.32 against the US dollar