Sensex ends choppy day 25 pts lower; midcaps skid; M&M up 6%, HDFC down 2%

Stock market LIVE updates: India VIX ticked up 4 per cent in the intra-day trade, but ended 2 per cent higher

2:47 PM

NEWS FLASH :: M&M cuts over half of North America's workforce, says report

Indian automaker Mahindra & Mahindra Ltd has cut more than half of the workforce at its North American unit, two sources familiar with the matter told Reuters, due to the COVID-19 pandemic and an ongoing legal tussle. The sources did not give a figure for the number of jobs lost at the business, which had over 500 employees in early 2020, according to its website. (Report by Reuters)

2:42 PM

Nifty Pharma worst sectoral performer, down over 1%

2:25 PM

BUZZING STOCK :: Hudco defies market mood, hits 52-week high

2:24 PM

Banking on Budget: Keeping an eye out for growth focus, PSU reforms

The Indian stock market is hitting an all-time high and if one were to look fundamentally, on an earnings basis, it is trading close to one of its highest valuations ever. India is trading at one of the highest premium when compared with global as well as emerging market indices. This implies market participants’ very positive view on the Indian economy. We have already seen forecasts of more than 20 per cent compound annual growth rate (CAGR) for Nifty 50 companies. READ MORE

2:10 PM

Auto stocks outperforming in a weak market

1:54 PM

Mrs. Bectors Food stock hits lowest level since listing amid profit booking

Shares of Mrs. Bectors Food Specialities were down 1 per cent to Rs 430.50, its lowest level since listing on the BSE in the intra-day trade on Wednesday.

 

Mrs. Bectors Food Specialities made a strong stock market debut on December 24, with stock of the biscuit and bread manufacturer listing at Rs 501, a 74 per cent premium against its issue price of Rs 288 per share on the BSE on Thursday. Post listing, it zoomed 119 per cent against its issue price in the next couple of days. READ MORE

1:54 PM

MARKET UPDATE:: Sensex at day's low

1:43 PM

IRFC IPO to open on January 18; firm looks to raise Rs 4,600 crore

The initial public offering (IPO) of Indian Railway Finance Corporation (IRFC) worth about Rs 4,600 crore will hit the market on January 18, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Wednesday. "IRFC coming up for listing with a Rs 4600 cr+ issue in a price band of Rs 25-26 per share. Anchor book on Jan 15 and the main book from Jan 18-20," he tweeted. READ MORE

1:42 PM

Pharma, healthcare growing, but they face challenges beyond Covid-19

The Indian pharmaceuticals industry and the healthcare sector are gearing up for a second year of extreme stress. Apart from dealing with Covid-19, and perhaps a new threat of bird flu, pharmaceutical and healthcare face several other challenges. First, there is the task of inoculating a vast population for Covid-19. READ MORE

1:28 PM

Falling reliance on China: Optimism grows for India's best-performing stock

In just about two weeks, at least four brokerages have raised their price targets on the shares of Divi’s Laboratories Ltd. -- one of the top producers of active pharmaceutical ingredients -- with Jefferies India Pvt.’s estimate of an almost 20% gain over the next 12 months being the most bullish in data compiled by Bloomberg. READ MORE

1:22 PM

IRFC IPO to raise Rs 4,600 crore; issue opens on Jan 18

The initial public offering (IPO) of Indian Railway Finance Corporation (IRFC) worth about Rs 4,600 crore will hit the market on January 18, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Wednesday. "IRFC coming up for listing with a Rs 4600 cr+ issue in a price band of Rs 25-26 per share. Anchor book on Jan 15 and the main book from Jan 18-20," he tweeted. (Source: PTI)

1:11 PM

Low price denomination stocks dominate investor interest

Thirty-nine, including Subex, McLeod Russel, Jet Airways, Jain Irrigation Systems, and Sintex Plastics Technology, have surged more than 5x during this period.

 

Coming at a time when economic activity was disrupted due to the Covid-19 pandemic, the rally in these stocks has left market players baffled. According to analysts, a new crop of retail investors entering the market could be drawn towards low-denomination stocks. READ MORE

12:56 PM

Tata Chemicals zooms 10% on report firm in talks to buy Archean's unit

Shares of Tata Chemicals hit a fresh record high of Rs 552 after rising 5 per cent on the BSE in intra-day trade on Wednesday. The stock has surged 10 per cent in the past two trading days, on report that the Tata Group commodity chemicals company is in advanced talks for Archean's industrial salt unit. At 12:14 pm, Tata Chemicals was trading 4 per cent higher at Rs 543, as compared to 0.12 per cent decline in the S&P BSE Sensex. The trading volumes on the counter nearly doubled with a combined around 12 million equity shares changing hands on the NSE and BSE, till the time of writing this report. READ MORE

12:51 PM

NEWS ALERT :: Unichem Lab gets USFDA nod for Celecoxib Capsules

>> Celecoxib Capsules is indicated for treatment of Osteoarthritis, Rheumatoid Arthritis, Ankylosing Spondylitis, Acute Pain & Primary Dysmenorrhea.

>> The product will be commercialized from Unichem’s Goa Plant.

12:49 PM

Granules gets USFDA nod for diabetes management drug

Drug firm Granules India on Wednesday said it has received the US health regulator's approval for Metformin Hydrochloride extended-release (ER) tablets, used in the management of type-2 diabetes. The approved product is the generic equivalent of Glumetza ER tablets, 500 mg and 1000 mg, of Bausch Health US LLC. (Text Source: PTI)