RIL, HDFC Bank help indices end 4-day losing streak; Sensex gains 748 pts

All that happened in the markets today

11:48 AM

MARKET CHECK:: Top 5 gainers on the BSE at this hour

11:40 AM

Infosys, TCS: How to trade IT stocks after Trump's order on H-1B visa use

IT stocks slipped on Tuesday after the US President Donald Trump signed an executive order restricting federal agencies from contracting or subcontracting foreign workers. The Nifty IT index declined nearly 1 per cent. Among individual stocks, Tech Mahindra traded over 2.5 per cent lower while HCL Tech and L&T Infotech were down over 1.5 per cent. READ MORE 

11:27 AM

Weak US outlook, pricing pressures weigh on Sun Pharma's revenue growth

Sun Pharmaceutical’s June quarter results were weighed down by weak sales in the US market, especially in the high-margin specialty segment. Its American sales slid 24.6 per cent on a sequential basis, as Sun’s specialty portfolio, as well as its subsidiary Taro Pharma’s sales, dipped 33-38 per cent. READ MORE

11:15 AM

Investing in sovereign gold bond scheme at high prices could be risky

The Sovereign Gold Bond Scheme (SGB) 2020-21-Series V is open for subscription from August 3-7. The price of this tranche has been fixed at Rs 5,334 per 1 gram of gold.

 

Investors need to carefully decide whether they should lock in their money in SGBs for the long term at the current high prices or consider more liquid alternatives, like gold exchange-traded funds (ETFs). READ MORE

11:02 AM

VST Industries in focus, rallies 11% after June quarter numbers

In a separate filing to exchanges on the impact of Covid-19 pandemic on the company's business operations, VST Industries said that the business operations were adversely impacted in the form of disrupted supply chain and decline in consumer demand. "Since mid-May 2020, while the manufacturing operations have gradually started returning to normalcy, we estimate the pandemic to continue having its impact on sales," it said in the press release. READ MORE 

10:50 AM

YES Bank rallies 3% after Moody's upgrades it to B3 on equity infusion

YES Bank shares gained 3.5 per cent to quote at Rs 12.41 on the BSE on Tuesday after global agency Moody's upgraded YES Bank’s long-term foreign currency issuer rating from “Caa1” to “B3” on equity capital raise of Rs 15,000 crore. READ MORE

10:40 AM

NEWS ALERT :: Govt issues Economic Report

>> Says, healthy monsoon to support agri-based economy

>> Hopes to see agri-growth in coming months

>> Sees global economy moving towards recovery

>> Sees economy returning to normalcy since the lifting of lockdown

10:27 AM

Wockhardt to supply Covid-19 vaccines to UK govt; stock soars 27% in 3 days

Shares of Wockhardt extended their gains into third consecutive day, and were locked in the 10 per cent upper circuit band at Rs 334 apiece, on the BSE on Tuesday after the company said it will supply millions of doses of multiple Covid-19 vaccines, including that being developed by AstraZeneca and Oxford University, under a deal with the UK government. READ MORE

10:18 AM

IT stocks slip as Trump signs order to restrict H-1B visa use; TCS falls 1%

At 09:38 am, the Nifty IT index was 0.73 per cent lower at 17,834.70 levels, with 9 out of 10 constituents trading in the red. Among individual stocks, Larsen & Toubro Infotech slipped the most - down 2 per cent to Rs 2,441.60. Next on the list were Tech Mahindra (down over 1.5 per cent), HCL Technlogies (down over 1.3 per cent), Tata Consultancy Services (TCS), and Mindtree - both down 0.85 per cent. NIIT Tech was the only stock on the index that was trading in the green. In comparison, the benchmark Nifty50 index was ruling 58 points or 0.53 per cent higher at 10,949.40. READ MORE 

10:09 AM

Rupee Opening

Rupee opens lower at 75.16 per US dollar vs Monday's close of 75.01/$

10:04 AM

NEWS ALERT :: RBI approves Sashidhar Jagdishan's name for CEO of HDFC Bank, reports CNBC TV18 quoting sources

9:54 AM

Analysts cautious on road ahead for auto sector despite July sales recovery

Sales of automobile companies recovered in July after a subdued couple of months as Covid-19 triggered a nation-wide lockdown. India’s largest carmaker, Maruti Suzuki for instance, said it had sold 108,000 units in July, 88.2 per cent more than June 2020, and 1.3 per cent more over July 2019. The automaker had reported zero sales in April due to the lockdown. READ MORE

9:42 AM

Cipla trades mildly higher

9:29 AM

BUZZING STOCK:: Jubilant Life rises over 2% after launching generic version of remdesivir

9:26 AM

BUZZING STOCK:: Wockhardt extends gain, trades over 8% higher