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)

1:00 PM

Stocks that hit 52-week high on BSE today

Company	PRICE(rs)	52 WK HIGH	CHG(%)
Adani Enterp.	570.65	574.60	1.16
Adani Total Gas	404.45	412.35	0.86
Adani Transmissi	508.95	511.70	3.54
Aegis Logistics	297.95	315.05	6.09
Ajanta Pharma	1825.65	1879.45	4.55

12:57 PM

Dec Quarter Result :: Ramco Cements clocks PAT of Rs 200 crore vs Rs 94 crore YoY

>> Revenue at Rs 1,350 cr vs Rs 1,290 cr YoY

12:50 PM

NEWS ALERT :: Vodafone Group reaffirms FY21 guidance

>> Adj EBITDA seen in the range of €14.4 – €14.6 billion

>> Free cash flow of at least €5 billion in FY21

(Source: CNBC TV18)

12:45 PM

Dec Quarter Result :: Bajaj Consumer reports net profit of Rs 58.2 crore

>> Declares interim dividend of Rs 6 per share

>> Revenue at Rs 250 crore

12:39 PM

ALERT :: Sensex at day's high

12:33 PM

India VIX rises over 2% to 23.90

>> VIX is a measure of volatility in the market

12:21 PM

FPI inflow crosses $30 bn in FY21, highest investment in a FY since 2013

Foreign portfolio investors (FPIs) continue to bet big on ‘India story’ with their net investment in Indian equities already hitting $31.7 billion mark thus far in financial year 2020-21 (FY21) – the highest investment in a financial year since fiscal 2012-13 (FY13) when they had invested a net $25.8 billion (Rs 1.40 trillion) in Indian equities, data show. READ MORE

12:10 PM

Angel Broking on Brookfield REIT IPO

Though the REIT has incurred losses in FY20 and has not paid out any dividends, the company expects to pay a yield of 7.5% in FY23, which we believe is aggressive and may be difficult to achieve. Post the IPO there will also be a debt reduction of Rs 3,575 crore for the company which will bring down the overall debt. However, due to the current uncertainties around Covid-19 and proliferation of work-from-home, we expect that demand for commercial real estate to be muted. Given the uncertainties, weak financials and high debt on book, we would recommend a “Neutral” rating on the issue.

11:59 AM

Tata Motors regains Rs 1 trillion market cap as stock zooms 102% in 6 weeks

Shares of Tata Motors continued their northward movement in Wednesday's session with the stock regaining a market capitalisation of Rs 1 trillion following a sharp rally in the prices. Tata Motors stock rallied 6 per cent to Rs 341, up 102 per cent in past six weeks, on healthy operational performance and expectation of improvement in the company's outlook. The stock touched its highest level since May 2018 on the BSE in intra-day trade today. READ MORE

11:56 AM

UltraTech, ACC: Infra push in Budget 2021 to fuel rally in cement stocks

Among key announcements, the FM proposed introduction of a bill to set up a financial institution to launch the National Asset Monetisation Pipeline for funding new infra projects; PLI scheme across 13 sectors (announced earlier) with planned expenditure of Rs 1.97 trillion, over 5 years starting FY22; and increase in sops for affordable housing. READ MORE

11:47 AM

Budget 2021: Policy action on the ground key for sustained market rally

The market response to the Budget was positive, partly due to the fact that no new taxes were imposed. There was also appreciation for some policy measures.

 

Budget 2021-22 has a strong focus on infrastructure creation, with many new roads projects announced, big allocations for urban waste management and water supply, and urban transport solutions. Infrastructure asset monetisation could help to ease stressed finances in the sector. READ MORE

11:36 AM

Glenmark Pharma gets USFDA nod for seizure treatment drug

Drug major Glenmark Pharma on Wednesday said it has received final approval from the US health regulator for Topiramate extended-release capsules, used to treat certain types of seizures. The approved product is a generic version of Qudexy XR Capsules of Upsher-Smith Laboratories, LLC.  Glenmark Pharmaceuticals Ltd has received final approval from the United States Food and Drug Administration (USFDA) for Topiramate extended-release capsules USP in the strengths of 25 mg, 50 mg, 100 mg, 150 mg, and 200 mg, Glenmark said in a regulatory filing.

(Source: PTI)

11:21 AM

Ajanta Pharma zooms 8% to fresh 52-week high on strong Q3 results

Shares of Ajanta Pharma rallied 8 per cent to a fresh 52-week high of Rs 1,879.45 on the BSE on Wednesday after reporting a 64 per cent rise in its consolidated net profit to Rs 177 crore for the quarter ended December 2021, mainly on account of robust sales. Consolidated revenue from operations of the company stood at Rs 749 crore for the quarter under consideration. It was Rs 651 crore for the same period a year ago, the company said in a BSE filing. READ MORE

11:14 AM

BSE advance-decline ratio at 2:1 at this hour

11:03 AM

Bharti Airtel gains 3%, hits record high ahead of December quarter results

On January 31, the company announced that the board of directors, in its meeting scheduled on Wednesday, February 03, 2021, shall also consider "routine financing/ re-financing strategies and any consequent raising of capital through various instruments including debentures, bonds, loans etc. either denominated in Indian rupees or in foreign currency and of suitable tenor and characteristics, subject to applicable regulatory/ statutory approval(s)". READ MORE