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

1:11 PM

New F&O entrants in focus; IndiaMart, IEX, Can Fin surge up to 9%

Shares of companies that were included in the derivatives segment (Futures & Options contracts) on the National Stock Exchange (NSE) from the new series that began last Friday, remained in focus for the second straight day as they rallied up to 9 per cent on the bourses in Monday's intra-day trade. READ MORE

12:57 PM

ALERT :: Steel Strips signs agreement with Tata Steel Long Product

>> SSWL has signed an agreement with Tata Steel Long Product Ltd. (TSPL) for rolling of Round bars of various grades for a period of 3 years. The supplies from SSWL Saraikela Plant will start from October 2021. This deal has a supply potential of 50000 MTs of rolled round bars per annum. These product will target automotive customers in India.

12:53 PM

NEWS ALERT :: Ola said to tap Citi, Kotak, Morgan Stanley for $1bn Mumbai IPO

(Source: TV News, Agencies)

12:34 PM

ALERT :: TechM approves proposal to acquire 13.8% equity shares in AustinGiS via unit

>> In continuation of our announcement dated 27th August, 2021, we wish to clarify that the Company through its wholly owned subsidiary viz., Tech Mahindra (Americas) Inc., approved the proposal to acquire 13.8% equity shares in AustinGiS. However, in the subject line of the announcement, the same was inadvertently mentioned as 100% instead of 13.8%. 

12:33 PM

Nippon India Money Market Fund: An outperformer with conservative style

Nippon India Money Market Fund, launched in June 2005, featured in the top 30 percentile of the money market funds category in CRISIL Mutual Fund Ranking (CMFR) for 10 consecutive quarters ended June 2021. The month-end asset under management of the fund increased from Rs 1,544 crore in August 2018 to Rs 9,952 crore in July 2021. READ MORE

12:17 PM

Zomato jumps 5% as Goldman Sachs initiates coverage with BUY

>> Target Price: Rs 180 per share

12:05 PM

What to expect from August auto sales numbers?

>> Emkay Global Financial Services conducted a channel check to gauge the volumes’ estimate for the month of August. The auto sales for the month of August 2021 are likely to see positive momentum for commercial vehicles and 2-wheelers on a sequential basis.

>> Volumes for passenger vehicles may see a hit, whereas tractors may see a mixed performance in the domestic market. Overall, the view on the auto sector is positive with top picks being Tata Motors (TP: Rs 400), Ashok Leyland (TP: Rs155), Maruti Suzuki (TP: Rs 9,000), and Eicher Motors (TP: Rs 3,040). In ancillaries, the top pick is Motherson Sumi (TP: Rs300) and Apollo Tyres (TP: Rs305).

11:52 AM

Bharti Airtel, RIL, Nazara Tech: Trading strategies for stocks in news

Bharti Airtel Ltd (BHARTIARTL) 

Likely target: Rs 700 and Rs 750 

Upside potential: 12% to 18% 

Bharti Airtel is struggling to conquer the selling pressure emerging above Rs 600 levels, according to the monthly charts. Only an aggressive close on the monthly chart may result in a breakout that could see a significant move towards Rs 700 and then Rs 750 levels. READ MORE

11:37 AM

Govt looks to sell shares of Reliance Industries held through SUUTI

The government is looking to sell shares of Reliance Industries (RIL) held through Specified Undertaking of the Unit Trust of India (SUUTI) and is soon going to appoint an intermediary to manage it. The plan is to sell about 8 lakh shares of RIL that will help the government garner around Rs 180 crore. READ MORE

11:21 AM

Q&A | Expect a time-wise, as well as price correction: Jyotivardhan Jaipuria

Over the past 15 years, there have only been two years when the market did not correct by at least 10 per cent during the year. In the current rally, we have not seen a double-digit correction since May 2020, and to that extent, a correction is overdue. We expect a time-wise, as well as price correction, so that the market can absorb the gains made over the past 17 months. However, this correction will only be a pause in the long-term bull market and will be followed by the next leg of the rally driven by a strong earnings recovery. READ MORE

11:10 AM

L&T wins significant contracts for various businesses; stock up 3%

Shares of Larsen & Toubro (L&T) hit a record high of Rs 1,684.80, up 3 per cent on the BSE in intra-day trade on Monday, after the company announced L&T Construction, the construction arm of the company has bagged a slew of orders in India and abroad for its various businesses. According to L&T's classification, the valuation of the 'significant' lies between Rs 1,000 crore to Rs 2,500 crore. READ MORE

10:58 AM

Q&A | India will continue to be a favoured investment destination: Mihir Vora

India will continue to be a favoured investment destination, like we have seen earlier – in the last 20 years, there have probably been only two years in which foreign investors were sellers – in all the other years, they have been buyers. READ MORE

10:55 AM

Affle freezes at 5% upper circuit for 3rd straight day on stock split plan

Shares of Affle (India) were locked in the 5 per cent upper circuit for the third straight day, at Rs 4,608.90 on the BSE in the intra-day trade on Monday, after its board approved stock split plan in the ratio of 1:5 to facilitate larger shareholder base and aid liquidity. Affle (India) on August 26,2021 informed the stock exchanges that the board has approved stock split of company's one equity share of face value of Rs 10 each into five equity shares of face value of Rs 2 each, subject to the approval of shareholders and other approvals as may be required. READ MORE

10:46 AM

NEWS ALERT :: Maruti plans price hikes across models in Sept

10:39 AM

Sandhar Tech jumps 13% as report suggests co supplying auto parts to Tesla

The company is looking to source critical electronic, electrical and mechanical components, even as Sona BLW Precision Forgings (Sona Comstar), Sandhar Technologies and Bharat Forge are understood to be among the Indian firms already supplying components to it, the Economic Times reported. READ MORE