Bulls lift indices to new closing peak; Sensex up 458 pts; pharma stks gain

The Nifty Pharma index edged up 3 per cent, followed by gains in the Nifty PSB index (up 2.3 per cent), and the Nifty Pruvate Bank index (up 2 per cent)

2:57 PM

This Jhunjhunwala-owned stock can rally another 21%: Analysts

Escorts, whose stock has rallied 152 per cent since its March low of Rs 527.10 on the BSE, posted an 83.4 per cent year-on-year (YoY) increase in its net profit at Rs 280.7 crore for the third quarter ended December 31, 2020, led by robust sales across business segments. M&M, on the other hand, has gained 232 per cent from its 52-week low hit in March. The S&P BSE Sensex and the BSE Auto indices have gained 94 per cent and 136 per cent, respectively since March lows, ACE Equity data show. READ MORE

2:47 PM

Future Group shares fall 5% as Delhi HC orders status quo on Reliance deal

Future Retail (Rs 78.10), Future Lifestyle Fashions (Rs 88.35), Future Consumer (Rs 8.21), Future Enterprises (Rs 11.73) and Future Supply Chain Solutions (Rs 100.15) were locked in lower circuit of 5 per cent on the BSE. In comparison, the S&P BSE Sensex was up 1.2 per cent at 50,371 at 02:16 pm. READ MORE

2:37 PM

Dec Quarter Result :: Jubilant FoodWorks' SSS growth slips 1.7%

>> Net profit at Rs 124 crore 

> Revenue at Rs 1,069 crore

>> Ebitda at Rs 280 crore

Alert: SSS is same store sales

2:32 PM

India's bad bank plan sparks concern loan prices could be inflated

One that some market participants say they’ll be closely watching is whether it could wind up inflating the price of distressed assets. That could happen if the creation of the bad bank reduces pressure on loan owners to price such debt at discounts attractive enough to draw other buyers, the argument goes. READ MORE

2:20 PM

Govt will reserve up to 10% in LIC's IPO for policyholders: DIPAM Secretary

LIC policyholders, who have had a hand in creating this institution, will get an opportunity to own a part of the PSU, DIPAM secretary Tuhin Kanta Pandey told Nikunj Ohri. In an interview, Pandey said up to 10 per cent of the issue size of LIC’s IPO will be reserved for policyholders. READ FULL INTERVIEW HERE

2:09 PM

European indices trade firm in early deals

(Source: Reuters)

2:05 PM

Sector Watch | Nifty Realty only sectoral loser on NSE

2:02 PM

After Budget news-flow on GST rates, demand hold key for ITC stock

Shares of ITC, the leader in domestic cigarettes industry, advanced close to 3.5 per cent intra-day to hit a fresh 52-week high of Rs 223.5 per share on the NSE on Tuesday. The stock though witnessed some profit-booking before ending the day with 1.2 per cent gains, but is still up 7.5 per cent in the past two days.

 

The gains come on the back of no mention of a widely expected hike in National Calamity Contingent Duty (NCCD) in the Budget. READ MORE

1:53 PM

Zee Media Corporation raises Rs 230 crore via NCDs

Zee Media Corporation on Wednesday said it has raised Rs 230 crore through issuance of non-convertible debentures (NCDs) on private placement basis. 

(Text Source: PTI)

1:48 PM

Nifty Pharma index surges 4%; Sun Pharma, Cipla hit 52-week highs

Shares of pharmaceutical companies were in focus at the bourses on Wednesday, with the Nifty Pharma surging 4 per cent after a consolidating in the last couple of days. Sun Pharmaceutical Industries and Cipla rallied 6 per cent each, hitting their respective 52-week highs on the National Stock Exchange (NSE) in intra-day trade. READ MORE

1:37 PM

IndusInd Bank stock soars 10% as Morgan Stanley raises target price by 14%

Shares of IndusInd Bank soared 10 per cent to hit an intra-day high of Rs 1,072 apiece on the BSE on Wednesday after global brokerage Morgan Stanley raised target price on the stock by 14 per cent. At 12:50 PM, the stock was ruling 8.5 per cent higher at Rs 1,057 per share as against a 1.2 per cen rally in the benchmark S&P BSE Sensex at 50,393 levels. READ MORE

1:35 PM

SBI Q3 result on Thursday; here are the five things you need to track

India's largest public sector bank State Bank of India (SBI) is set to report its Q3FY21 result on Thursday, February 4. The stock of the lender became analysts' darling after the bank's earnings, during the preceding two quarters, beat Street expectations by huge margins. A repeat this time may, therefore, lead to further re-rating of the stock. READ MORE

1:28 PM

Market Update :: Sensex extends gains, soars 700 points

1:20 PM

MARKET UPDATE:: Top contributors to Sensex's 600-pts gain today

1:14 PM

Auto margins could come under near-term pressure on higher duties

While most of the proposals for the auto sector in the Budget were positive, the increase in duties on certain auto parts to 15 per cent from 7.5 per cent to 10 per cent could lead to higher costs for auto makers. Though these measures will encourage localisation in the long term, Saurabh Agarwal, Tax Partner, Automotive sector, EY India believes that there could be some pressures in the near term as auto part makers pass on the higher import duties. READ MORE