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

1:04 PM

BUZZING STOCK :: HDFC shares jump over 5% ahead of Q3 earnings

1:02 PM

Why pharma stocks are underperforming despite Rs 2.23 trn Budget allocation

Union Budget 2021, which was presented amid a global health crisis, was sketched with 6 pillars in focus. Among these, healthcare was the foremost agendum of Finance Minister Nirmala Sitha­raman’s Budget speech, and the sector was allocated a generous pie of the entire budgetary allocation. At Rs 223,846 crore, the sector's allocation jumped around 118 per cent over the Revised Estimate of the current fiscal year. Yet, stocks from the sector have been underwhelming at the bourses. READ MORE

12:54 PM

NEWS ALERT :: Dr Reddy's launches Vigabatrin Tablets

>> These USP tablets (500 mg) are a therapeutic equivalent generic version of Sabril Tablets, USP, approved by the US FDA.

 

>> The Sabril brand & generic had US sales of approximately $141 million as of December 2020.
 

12:44 PM

Tata Motors rallies 11% as domestic PV sales nearly double in Jan

Shares of Tata Motors rallied 11 per cent to Rs 311 on the BSE in Tuesday's intra-day trade after the company retained positive momentum and reported a 15 per cent month-on-month (MoM) and 94 per cent year-on-year (YoY) growth in domestic passenger vehicles (PV) sales at 26,978 units during the month January 2021. The stock of Tata group commercial vehicles (CVs) company was trading at its highest level since June 2018. READ MORE

12:36 PM

Budget Impact :: Fitch pegs India's FY22 GDP at 11%

>> Real GDP growth in FY26 pegged at 6.6%

>> Higher fiscal deficit, longer-than-expected time taken for fiscal consolidation

>> Govt's prioritisation of fiscal support for health amid the ongoing economic recovery understandable.

>> There is little fiscal space given India;'s high public debt to GDP ratio prior to Covid pandemic

12:27 PM

BUZZING STOCK :: Shares of Indigo Paints slip below listing price

12:18 PM

India VIX eases 0.5% to 23.2 level

>> VIX is a measure of volatility in the market

12:06 PM

Top Sensex contributors at this hour

11:52 AM

Top stocks that are likely to benefit from FM's Budget proposals

Agri-inputs | Outlook: Positive

In the Union Budget, the focus was on agriculture credit, irrigation, and marketing of agriculture produce. The government also revised fertiliser subsidy allocation to Rs 1,339 billion for FY21 as against Rs 811 billion in FY20. Analysts at Prabhudas Lilladher are betting on stocks of Chambal Fertiliser and Bayer Cropscience. T

 

Banks | Outlook: Positive

Under the Budget, the government proposed setting up of ARC to buy bad loans of state-owned banks, announced capital infusion of Rs 200 billion for state-run banks and privatisation of two state banks and one general insurance company. According to Phillip Capital increased allocation for capital expenditure will bode well for large banks, namely ICICI Bank, Axis Bank, HDFC Bank and State Bank of India. READ MORE

11:42 AM

Canara Bank, PNB, SBI: How to trade PSU bank stocks post Budget 2021?

NIFTY PSU BANK: A decisive close above 2,000 mark may open doors for the index to hit 2,200 levels in the coming sessions. If that occurs, this breakout may add a strong positive momentum that can PSBs gain more ground. On the downside, until the support of 1,875 is maintained, there are chances that the negative sentiment will not prevail and investors will not create short positions. The immediate closing basis support comes at 1,930 levels. READ MORE

11:37 AM

Market Stats | BSE m-cap swells to Rs 195 trillion

11:31 AM

KNR Constructions soars 17%, hits new high ahead of 1:1 bonus share issue

Shares of KNR Constructions hit a record high of Rs 475 after they rallied 17 per cent on the BSE in Tuesday's intra-day session ahead of the bonus issue share issue. The stock has surged 29 per cent in the past two days. The company will allocate bonus shares in the ratio of 1:1 i.e. one bonus share for every one share held in the company on the record date. READ MORE

11:20 AM

India's massive borrowing puts RBI under pressure to keep yields in check

India’s central bank is under pressure to step in to keep yields in check after the government surprised bond markets with a bigger-than-expected borrowing plan. That puts the burden on Governor Shaktikanta Das to calm the bond traders when he meets to decide policy on Friday. He’s already had to assuage them that a recent measure to mop up excess liquidity isn’t a step toward changing the RBI’s accommodative policy and the central bank has rejected bids at two auctions of benchmark debt after investors sought higher yields. READ MORE

11:08 AM

MACRO UPDATE | Exports rise 5.37% in January

The country's exports grew 5.37 per cent year-on-year to $27.24 billion in January 2021, mainly driven by healthy growth in pharmaceuticals and engineering sectors, according to provisional data of the commerce ministry. Imports during the month rose 2 per cent to $42 billion, leaving a trade deficit of $14.75 billion, the data showed. 

(Source: PTI)

10:59 AM

Finolex Industries surges 16% on robust Q3 results, 1:5 stock split

Shares of Finolex Industries surged 16 per cent to Rs 689, also its fresh 52-week high, on the BSE on Tuesday after reporting more-than-doubled net profit at Rs 256 crore in the December quarter (Q3FY21), on back of strong revenue growth. The plastic products company had posted profit of Rs 93 crore in the year-ago quarter. READ MORE