Sensex ends 355 pts higher amid tight US presidential race; IT stocks gain

All that happened in the markets today

11:15 AM

US Elections 2020 :: I am optimistic about winning, say Democrat Joe Biden

11:08 AM

US Elections :: Electoral College Tally at 11:05 am

>> Democrat Joe BIden leads with 223 votes

>> REpublican Donald Trump secures 174 votes

(Source: Bloomberg)

11:06 AM

US Elections 2020 :: Trump Wins Florida, Key Battleground State, reports AP

11:04 AM

NEWS ALERT :: Joe Biden is set to make a statement shortly

11:00 AM

Result Today :: Here's what leading brokerages expect from SBI's Q2 nos

Nomura expects operating profit to decline by 14 per cent to Rs 15,688.3 crore compared with previous year’s Rs 18,198 crore profit. Sequentially, the figure may slip 13 per cent from Rs 18,061 .1 crore clocked in Q1FY21.

 

The net profit, however, is seen growing 47 per cent YoY to Rs 4,431 crore from Rs 3,011.7 crore reported in Q2FY20. The PAT may clock a gain of 6 per cent over Rs 4,189.3 crore-net profit logged in the June quarter. READ MORE

10:50 AM

IT stocks rally ahead of US election outcome; Infosys, Wipro rise 4%

Shares of information technology (IT) companies were in focus in the early morning trade on Wednesday with the Nifty IT index gaining 3 per cent amid US presidential poll counting. According to the latest trend, Democratic candidate Joe Biden has secured 209 electoral votes so far, while Donald Trump has won 118. A candidate needs to win 270 electoral votes to capture the presidency. READ MORE

10:40 AM

US Elections 2020 :: Trump wins Ohio; Biden Wins Hawaii

10:32 AM

NEWS ALERT | India IHS Markit October Services PMI at 54.1 vs 49.8 (MoM)

-- At 54.1 in October, up from 49.8 in September, the seasonally adjusted India Services Business Activity Index posted above the 50.0 no-change mark for the first time since February.

10:29 AM

Sebi issues circular on 'due diligence' framework for debenture trustees

Markets regulator Sebi on Tuesday came out with a framework for creation of security for listed debt securities and 'due diligence' that needs to be carried out by debenture trustees. The new framework will become effective from January 1, 2021, the Securities and Exchange Board of India (Sebi) said in a circular. In respect of creation of charge of security by issuer, before making the application for listing of debt securities, the issuer will have to create charge as specified in the offer document in favour of the debenture trustee (DT) and also execute debenture trust deed (DTD) with the DT, Sebi said. READ MORE

10:24 AM

US Election results 2020 LIVE updates: Ohio now leaning toward Trump

10:11 AM

BROKERAGE VIEW | Prabhudas Lilladher on Dabur India

Rating: ACCUMULATE | TP: Rs 539 

We are cautiously optimistic on new launches as some of products like Dabur Sanitize and immunity boosters range might turn slow after Covid-19 settles. we believe success of Mango drink and Culinary items can provide a big growth lever over coming few years. Input costs are firm and would keep margin expansion under check although Dabur is looking at price increases to pass on the impact. We believe focus on power brands, e-commerce sales, innovations and entrenched distribution network will enable 17.5% PAT CAGR over FY21-23. We value the stock at 41x FY23EPS to arrive at target price of Rs 537 (Rs 469 based on 40xSept22 EPS). Upgrade to Accumulate.

10:10 AM

Nifty Bank turns negative; ICICI, Axis Bank top losers

10:04 AM

Rupee opening

Rupee opens at over 2-month low of 74.78/$ vs Tuesday's close of 74.41 against the US dollar

9:58 AM

Sun Pharma gains 10% in two days on healthy September quarter results

The company's Ebitda (earnings before interest, taxes, depreciation, and amortisation) margins expanded 361 basis points YoY to 25.6 per cent mainly due to better product mix (higher specialty sales) and lower other expenditure. Revenues, however, grew 5.3 per cent YoY at Rs 8,553 crore during the quarter. The company said sales of specialty products have improved sequentially with Ilumya and Cequa reaching pre-Covid levels. READ MORE

9:50 AM

Commodities update :: Motilal Oswal Financial Services