Sensex snaps 4-day losing streak, ends 534 pts up; Nifty tad below 17,700

Stock market LIVE: Sectorally, all the indices were in the green, led by the Nifty Realty index (up 3.5 per cent)

12:51 PM

SmallCap index hits new high; Surya Roshni, Brightcom up over 50% in 1 mth

Shares of smallcap companies were on a roll on Monday as the S&P BSE SmallCap index outperformed the benchmark indices. The index was up 1.4 per cent at 28,618 points and hit a new high on the BSE after a strong rally in sugar, textiles, chemicals and iron & steel products stocks. In comparison, the S&P BSE Sensex and the S&P BSE Midcap index were up 1 per cent each at 11:43 am. READ MORE

12:40 PM

Tata Communications and Cisco Systems expand global strategic partnership

>> This new agreement is between Tata Communications and Cisco Meraki to empower enterprises with simple and easy to deploy, manage, and analyse IT infrastructure for delivering anywhere, anytime access

12:29 PM

Chart check: Power-packed rally in NTPC, Tata Power has more legs

NTPC Ltd (NTPC)

Likely target: Rs 155 and Rs 162

Upside potential: 7% to 11%

 

The breakout of the consolidation range was marked by massive gains of almost 20 per cent from Rs 122 levels, according to the daily chart. The current stock price scenario exhibits minor barrier at Rs 145-level. Once this mark gets conquered, the next breakout may point a rally towards Rs 155 and Rs 162. The immediate closing basis support for the stock is at Rs 135-level. READ MORE

12:22 PM

BUZZING :: Steel Strips Wheels rises after shareholders approve sub-division of shares

>> The shareholders of the company have approved the sub-division of equity shares of the company from the existing one equity share of face value of Rs 10 each into two equity shares of face value of Rs 5 each

12:09 PM

ALERT :: Karur Vysya Bank Q2 update

>> Karur Vysya Bank's advances at Rs 53,851 crore in the quarter ended September against Rs 50,408 crore in a year ago period.

 

>> Its deposits were at Rs 65,410 crore versus Rs 61,122 crore and CASA was at Rs 23,159 crore versus Rs 20,697 crore year-on-year
 

 

11:59 AM

BSE Power index gains 1% led by the Tata Power, NTPC, NHPC

11:47 AM

Fund Pick | Canara Robeco Emerging Equities Fund: Outperforming peers consistently

Launched in March 2005, Canara Robeco Emerging Equities Fund has featured in the top 30 percentile of the large- and mid-cap funds category of CRISIL Mutual Funds Ranking (CMFR) for six consecutive quarters up to June 2021. The fund has been managed by Miyush Gandhi and Shridatta Bhandwaldar since April 2018 and October 2019, respectively. READ MORE

11:30 AM

A pandemic market phenomenon is beginning to reverse

A funny thing began to happen in the stock markets when Covid-19 first hit the country. Between fears of a prolonged bear market, swiftly followed by an almost unimpeded rise, was the addition of 25.6 million new investor accounts. And as new accounts were added, individual trading turnover began to move away from being the preserve of a few corners of the country to becoming more widespread READ MORE

11:16 AM

ALERT :: IIFL Finance retail bonds issue oversubscribed 5.67x

>> IIFL Finance said, it has received bids worth Rs 566.79 crores at the end of day on October 1
 

>> The public issue closes on October 18, 2021, with an option of early closure
 

>> The allotment will be made on first come first served basis
 

11:09 AM

Divis Labs surges 10%, hits record high in Monday's session; here's why

Shares of Divi’s Laboratories hit a record high of Rs 5,313.80 on the BSE on Monday as they rallied 10 per cent in the intra-day trade. The stock of the pharmaceutical company surpassed its previous high of Rs 5,269, hit on September 1, 2021. At 10:28 am, it was trading 9 per cent higher at Rs 5,270 on the BSE as compared to a 1.17 per cent rise in the S&P BSE Sensex. READ MORE

 

10:52 AM

Adani Green completes acquisition of SB Energy Holdings

>> The transaction is for a fully completed enterprise valuation of $3.5 Billion

>> The value accretive acquisition brings Adani Green's operational portfolio to 5.4 GW and overall portfolio to 19.8 GW

>> Earlier, SB Energy Holdings was a 80:20 joint venture between Japan-based SoftBank Group Corp and Bharti Group

10:40 AM

India Glycols soars 19% as FPI buys stake, Ind-Ra upgrades credit ratings

Shares of India Glycols (IGL) soared 19 per cent to Rs 999 on the National Stock Exchange (NSE) in Monday’s intra-day trade after the foreign portfolio investor (FPI) bought stake in the company via open market. Further, credit rating agency, India Ratings & Research (Ind-Ra), has also upgraded the company's long-term issuer ratings to 'IND A/Stable' from 'IND A-/Stable' while resolving the Rating Watch Positive (RWP). READ MORE

10:34 AM

Will the auto sector enter fast lane anytime soon?

The industry is yet to come out of the woods as the  September auto numbers reflect a mixed bag. The domestic Passenger vehicle (PV) got the major hit with an average -37% YoY (-28% MoM) decline due to chip shortage and demand and supply widens. While 2/3- Wheeler OEMs witnessed a sequential growth of an average 13%, indicating a gradual recovery in the economy. The Commercial Vehicle (CV) is the worst hit and was reeling under pressure owing to covid fear of using public transport, economic uncertainty and change in the axle load norms. However, the sector is improving on a YoY basis with a 5% average  growth (11% MoM) supported by recovery in fleet utilization levels, higher number of road construction projects and e-commerce activity.  

 

We  remain optimistic as the Festival will immediately revive the auto Industry  and push the pend-up and core demand as the economy opens with a fall in the third wave risk. Normal monsoon and encouraging farm activity are likely to contribute to positive consumer sentiments. Price hikes undertaken will take care of material cost and boost financial status. However, semiconductor issue & supply constraints will continue to loom in the medium-term.

-- Vinod Nair, Head of Research at Geojit Financial Services

10:27 AM

Biocon launches Everolimus tablets, a generic version of Afinitor, in US

>> Everolimus (Afinitor) is a prescription medication that is used to treat certain types of cancers and tumours
 

>> The commercial launch of Everolimus follows an US FDA approval in February 2021
 

10:22 AM

Sugar stocks sweeten: Triveni, Dalmia, Balrampur, Uttam Sugar gain up to 5%

Shares of sugar companies were in focus with Balrampur Chini Mills, Triveni Engineering, Dalmia Bharat Sugar and Industries (DBSIL) and Uttam Sugar Mills having gained up to 5 per cent on the BSE in Monday’s intra-day trade on a record exports and healthy outlook. India's sugar export rose 20 per cent to an all-time high of 7.1 million tonne in the 2020-21 marketing year-ended September 2021 on the back of better demand and financial assistance from the government, industry body ISMA said on Friday. READ MORE