Investors richer by Rs 4 trn as Sensex zooms 765 pts, ends near 56,900

Investor wealth rose by Rs 3.6 trillion on the BSE today, taking m-cap of all listed BSE companies to Rs 247.34 trillion

3:29 PM

Bharti Airtel investor call :: Eye ARPU of Rs 200 by the end of this fiscal, says Sunil Mittal

>> No plans to sell more promoter stake'

>> Bharti Airtel will not use rights issue fund to increase stake in Indus Towers

>> Postpaid price hike shows we ran out of patience & took the first step

>> Important for the industry to have 3 players

3:21 PM

Top Sensex contributors at this hour

3:02 PM

Bharti Airtel investor call :: It is time to raise tariffs, says Sunil Bharti Mittal

>> Stock at day's high

2:52 PM

Bharti Airtel investor call :: Co's debt is at an 'extraordinary' level, says Sunil Bharti Mittal

>>  Leverage is bothering investors & the company

>> We needed access to growth capital

>> Hope pricing of 5G spectrum will be made attractive equally by the govt

>> It would be a grave error if we stayed with business as usual at this time

2:42 PM

Mark Mobius says :: Hold 10% of portfolio in gold as currencies will be devalued

Veteran investor Mark Mobius said investors should have 10% of a portfolio in gold as currencies will be devalued following the unprecedented stimulus rolled out to fight the coronavirus pandemic.

 

At this stage, “10% should be put into physical gold,” said Mobius, who set up Mobius Capital Partners after more than three decades at Franklin Templeton Investments. “Currency devaluation globally is going to be quite significant next year given the incredible amount of money supply that has been printed.” READ MORE

2:24 PM

ALERT :: NIFTY50 JUST 83-PTS AWAY FROM 17,000

2:23 PM

ALERT :: SENSEX HITS FRESH RECORD PEAK OF 56,821

2:19 PM

BSE Midcap index hits record high; Adani Transmission zooms 67% in 1 month

The S&P BSE MidCap index hit a record high of 23,655.61, up 1.7 per cent on the BSE in the intra-day trade on Monday, on the back of a sharp rally in stocks of Adani Group, auto ancillary, non-banking finance companies (NBFCs) and broking companies. The index was trading higher for the fourth straight day, after correcting 4 per cent from its previous high of 23,478 touched on August 4, 2021. READ MORE

2:02 PM

Payment firm PhonePe receives broking licence from insurance regulator

Walmart-backed payment firm PhonePe on Monday said it has received a broking licence from the insurance regulator, which will enable it to distribute insurance products from all insurance companies in the country. In a statement, the company said, the new broking licence will allow it to start offering personalised product recommendations to its more than 300 million users, and offer a much more diverse portfolio of insurance products for Indian consumers. READ MORE

2:00 PM

NEWS ALERT :: India Business Resumption Index above pre-pandemic levels for 3 consecutive weeks

>> NBRI rises to 102.7 for week ended Aug 29, up from 101.3 clocked at the end of the previous week

>> NBRI rises 5.6 percentage points in Aug after a 15 ppts rise in June and 17.1 ppts in July

(Source: TV reports)

1:50 PM

Sector Watch :: Nifty IT only sectoral loser

1:50 PM

Axis Bank begins issuing debt securities under Rs 35,000 cr-debt raise plan

The shareholders of the bank had approved the proposal in bank's annual general meeting in July.

 

"The bank has initiated the process of issuing of the debt instruments, in the form of the additional tier 1 notes (notes) in foreign currency, subject to market conditions," Axis Bank said in a regulatory filing. READ MORE

1:35 PM

Angel Broking on Burger King India

>> Burger King India (BKIL) has entered into a non-binding understanding to acquire 85% stake in PT Sari Burger Indonesia (“BK Indonesia”) from F&B Asia ventures (65.8%) and Mitra Adiperkasa (19.2%). The transaction values BK Indonesia at USD183mn and it will fund through equity. On EV/Sales (FY20 - Sales) basis valuation work out around 1.8x which is discount compare to burger king India (8.0x). Considering, strong QSR brand in Indonesia and 60% population age under 30 (millennials), we believe this is positive development for BKIL. Hence we are positive on stock with buy rating.

-- Amarjeet Maurya - AVP - Mid Caps, Angel Broking

1:27 PM

INDEX CHECK :: Nifty Futures surpass 16,900-mark

1:23 PM

This chemical stock has crashed 15% in one month; is reversal on cards?

Clean Science had made a solid debut on Dalal Street on July 19 as the stock had listed at Rs 1,784.40 on BSE, a 98.26 per cent premium to its issue price of Rs 900. On NSE, the scrip listed at Rs 1,755, up 95 per cent. The company's IPO was subscribed 93.41 times, receiving total bids for 1,14,92,30,160 shares against 1,23,02,672 shares on offer. The quota reserved for qualified institutional buyers (QIBs) was subscribed 156.37 times, non-institutional investors 206.43 times, and the retail individual investors (RIIs) quota 9 times. READ MORE