Budget-rally extends on D-St; Sensex surges 1,197 pts; SBI up 6%, TaMo 17%

The Sensex index reclaimed the 50,000 level in intra-day deals and hit a high of 50,154

2:54 PM

ITC, HDFC Bank and six other Sensex stocks scale fresh 52-week highs

Shares of State Bank of Bank (SBI), ITC, Larsen & Toubro (L&T), UltraTech Cement, HDFC Bank, ICICI Bank, Bajaj Auto, and Bajaj Finserv were among the eight stocks from the 30-share S&P BSE Sensex hitting their respective 52-week highs on Tuesday, as the Indian markets extended their historic Budget-day rally and surged as much as 3 per cent in intra-day deals. READ MORE

2:47 PM

HDFC Q3 standalone profit slips 65% YoY to Rs 2,926 cr, revenue tanks 42.2%

Mortgage lender HDFC on Tuesday reported a 65 per cent year-on-year (YoY) decline in standalone net profit to Rs 2,925.83 crore for the quarter ended December 2020 (Q3FY21) on the back of lower income. The housing financier's PAT stood at Rs 8,372 in the year-ago period (Q3FY20). Sequentially, the profit grew 2 per cent from Rs 2,870 crore clocked in Q2FY21. READ MORE

2:35 PM

Q3 EARNINGS | HDFC net profit down 65.1% YoY at Rs 2,925.8 crore

-- HDFC Q3 profit includes proceeds from Gruh stake sale

-- HDFC revenue down 42.3% YoY at Rs 11,707 cr

-- Tax expensea at Rs 826.7 crore vs Rs 770.5 crore in the year-ago period

2:29 PM

Dec Quarter Result :: Escorts reports profit of Rs 280 crore

>> Revenue at Rs 2,017 crore

>> Ebitda at Rs 364 crore

>> Ebitda margin at 18.1%

2:26 PM

These stocks defy market mood, slip up to 5%

2:26 PM

Ahead of Results :: Dixon Tech advances over 3%

2:17 PM

Cement shares soar on govt's infra push; UltraTech, Shree Cement up 8%

Shares of cement manufacturers were on a roll in Tuesday's session with sector giants UltraTech Cement, Shree Cement, Ambua Cements, Grasim Industries and ACC rising up to 8 per cent on the BSE as the Union Budget focussed on growth with a sharp increase in capital expenditure (capex) allocation. The huge thrust on infrastructure spending by the government in the Budget 2021–22 bodes well for construction materials such as cement and steel. READ MORE

2:08 PM

BUZZING STOCK :: Tata Motors surges 12%

2:01 PM

Budget 2021 a big effort by govt to boost country's economic recovery: S&P

Global rating agency Standard and Poor’s (S&P) on Tuesday said that India's Budget for FY22 represents a comprehensive effort by the central government to shore up the country's nascent economic recovery. However, the brawny spending programme also entails higher-than-expected general government deficits--at more than 14 per cent of GDP this fiscal year (FY21). It would be 11.6 per cent in FY22. READ MORE

1:50 PM

Sector Update | Nifty Media index rises nearly 4%, best sectoral performer

1:43 PM

Shares of Amara Raja Batteries trade higher as firm to mull interim dividend on Feb 13

1:40 PM

Budget calls for creating permanent framework for buying corporate bonds

"To instill confidence among the participants in the corporate bond market during times of stress and to generally enhance secondary market liquidity, it is proposed to create a permanent institutional framework. The proposed body would purchase investment grade debt securities both in stressed and normal times and help in the development of the bond market,” Sitharaman said in her speech. READ MORE

1:28 PM

Market Update | As Sensex rises 1,100 points, only four stocks trade in the red

1:25 PM

'Bold' budget to bring focus back to traditional sectors: Analysts

The Budget for FY22 scores high on many counts, if the Sensex’s 5-per-cent jump is any parameter to go by. Not only has the finance minister taken the responsibility of government spending, but has also indicated to investors that a comeback for traditional brick-and-mortar sectors — infrastructure, metals, cement and allied manufacturing pockets — is on the cards. READ MORE

1:11 PM

Isgec Heavy Engineering leaps 9% on order wins from cement, steel sectors

Shares of Isgec Heavy Engineering rallied 9 per cent to Rs 404, also its 52-week high, on the BSE on Tuesday, after the company said it has recently received two orders – one for a Cement Waste Heat Recovery Boiler (CWHRB), and another for conducting Remnant Life Assessment (RLA) study. The company did not disclose the size of the orders. The order for CWHRB is from a leading cement manufacturer for their plant site in Meghalaya. The company said it is committed towards the utilization of waste energy and supporting the cement Industry to generate clean or green power. READ MORE