Markets ignore geopolitical tension, Sensex ends 376 points higher

All that happened in the markets today

11:55 AM

HDFC twins top Sensex gainers at this hour

11:45 AM

Vaibhav Global, Caplin Point: 5 midcap stocks that can rise 10% from here

Alembic Pharmaceuticals Ltd (APLLTD): The medium-term outlook turned bullish the moment this counter conquered Rs 800 level decisively. The downside remains protected given the strong support at Rs 730 levels. The immediate support comes at Rs 825 on closing basis with trend indicating a rally towards Rs 980 and Rs 1025 levels. READ MORE

11:36 AM

IIFL on Aarti Industries

Although the cancellation of Aarti’s 10-year contract for a herbicide intermediate does not impact FY21-22ii EPS (due to contractual guarantees by the customer), we nevertheless consider this development a negative, as it: 1) reduces earnings visibility beyond FY22, and 2) is likely to lead to some erosion of project NPV.

We believe marketing the intermediate to third parties may prove challenging, given their backward integration. The risk of a ban on dicamba is also real. More generally, we consider this development a warning against the rich valuations being assigned to CRAMS companies such as PI.

11:31 AM

NEWS ALERT | Rakesh Jhunjhunwala buys additional 6 lakh Jubilant Life shares via open market on June 15: CNBC TV18

11:26 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	10.09	-0.49
TATA MOTORS	96.60	-3.83
RELIANCE POWER	2.83	4.81
FORTIS HEALTH.	124.95	4.74
B H E L	29.40	1.03

11:10 AM

Agri stocks rally; Bayer Crop, Dhanuka Agritech hit all-time highs

Bayer Cropscience, Dhanuka Agritech, PI Industries, and Rallis India hit their respective lifetime highs after rallying up to 5 per cent each. In the past one month, the share prices of Dhanuka Agritech, Sharda Cropchem, Aster Lifesciences, Bayer Cropscience, Insecticides India, Rallis India, and UPL have rallied between 11 per cent and 44 per cent. In comparison, the S&P BSE Sensex was up 9 per cent during the period. READ MORE

11:01 AM

Sebi board to discuss Franklin Templeton wind-up move, MF liquidity

The capital markets regulator, Securities and Exchange Board of India (Sebi), is likely to discuss legal issues concerning refunding investors of Franklin Templeton Mutual Fund (MF) and the status of the special audit against the fund house during its board meeting on June 25.

 

The regulator could also apprise the board of details on the extent of redemption mutual fund houses are facing and the liquidity position of their debt schemes, said two persons in know.  READ MORE

10:53 AM

Metal stocks shine amid strong global cues; MOIL, Jindal Steel up 7% each

10:41 AM

Lower share of delivery sales leaves Westlife's investors with bitter taste

There is little doubt that the lockdown following the Covid-19 outbreak has changed consumer behaviour, weakening sales of many sectors, including quick-service restaurants (QSRs).

 

Among QSRs, the pressure is higher on players that earn less revenue from delivery-channel sales, as is seen in Westlife Development’s (Westlife’s) March 2020 quarter (Q4) results, announced last Thursday.  READ MORE

10:31 AM

NEWS ALERT :: Alembic Pharma receives USFDA final nod for Deferasirox tablets

>>  The Company has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Deferasirox Tablets, 180 mg.

>> The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Jadenu Tablets, 180 mg, of Novartis Pharmaceuticals Corporation (Novartis).

Alert: Deferasirox tablets are indicated for treatment of Chronic Iron Overload Due to Blood Transfusions (Transfusional Iron Overload) and for treatment of Chronic Iron Overload in Non-Transfusion-Dependent Thalassemia Syndromes.

(Via BSE filing)

10:26 AM

Tata Motors slips 4% after reporting Rs 9,864 cr net loss in March quarter

Shares of Tata Motors dipped 4 per cent to Rs 96.30 on the BSE after posting a consolidated net loss of Rs 9,863.73 crore in the fourth quarter ended March 31 (Q4FY20). The company's revenue from operations stood at Rs 62,492.96 crore in the quarter, compared with Rs 86,422.33 crore in the corresponding quarter last year, with the coronavirus-induced lockdown taking a toll on British arm JLR as well as its domestic business. READ MORE

 

10:21 AM

Ramco Systems zooms 91% in 5 days after investor Vijay Kedia picks 1% stake

On June 10, 2020, ace investor Vijay Kishanlal Kedia purchased 339,843 shares, representing 1.1 per cent of the total equity of Ramco Systems, for about Rs 3 crore. He bought these shares at an average price of Rs 87.82 per share through a block deal on the NSE, the exchange data shows. READ MORE

10:13 AM

Vaibhav Global, Caplin Point: 5 midcap stocks that can rise 10% from here

Alembic Pharmaceuticals Ltd (APLLTD): The medium-term outlook turned bullish the moment this counter conquered Rs 800 level decisively. The downside remains protected given the strong support at Rs 730 levels. The immediate support comes at Rs 825 on closing basis with trend indicating a rally towards Rs 980 and Rs 1025 levels. The Relative Strength Index (RSI) has fallen below the oversold condition, yet the price is not showing that severe correction. This indicates an inherent strength in the stock. With an inverse head and shoulder on the RSI, the stock may be ready for the next leg of the upside. READ MORE

10:02 AM

Rupee Opening

Rupee opens stronger at 75.87 per US dollar vs Monday's close of 76.03/$

9:56 AM

Can Fin Homes surges 11% as Q4 net profit grows 36% YoY to Rs 91 crore

Shares of Can Fin Homes surged 11 per cent to Rs 339 on the BSE on Tuesday after the company reported a 35.84 per cent year on year (YoY) rise in its net profit to Rs 90.91 crore for the quarter ended March 2020 (Q4FY20), on the back of higher interest income. The housing finance arm of Canara Bank had posted a net profit of Rs 66.92 crore in the year-ago quarter. READ MORE