Sensex gains 227 pts, ends above 44K, Nifty settles at 12,938; M&M up 11%

All that happened in the markets today

9:52 AM

BROKERAGE VIEW | IDBI Capital on Eicher Motors

RATING: HOLD | TARGET PRICE: Rs 2,460 

We introduce our FY23 estimates and anticipate revenue/earnings to grow at ~8%/12% CAGR each over FY20-FY23E with EBITDA margin from 19.3%-20.5%. We value RE biz at 23x and 15x for VECV business on account of strong traction from rural/urban areas. Due to recent increase in share price we change our rating to HOLD (earlier SELL) with TP of Rs 2,460 (earlier Rs 1,764).

9:50 AM

BROKERAGE VIEW | IDBI Capital on Repco Home Finance

RATING: HOLD | TARGET PRICE: Rs 250 

Disbursements for the housing finance sector have improved during the quarter (HDFC reported disbursements at 95%of pre covid levels). However, despite the uncertainties in the sector it is able to garner a spread of 3% with a comfortable liquidity position. We roll-over to FY23E and re-iterate ‘HOLD’ with a new TP of Rs.250 (earlier Rs.187), valuing it at 0.7x P/ABV FY23E.

9:44 AM

Lakshmi Vilas Bk hits 20% lower circuit after govt puts it under moratorium

Till 09:17 am, a combined 799,000 equity shares had changed hands on the counter and there were pending sell orders for 35 million shares on the NSE and BSE, exchange data shows. READ MORE

9:38 AM

BSE Midcap index continues to outperform, up nearly 0.5%

9:28 AM

Wipro trades flat with a negative bias

9:26 AM

DHFL up 5%

9:25 AM

Lakshmi Vilas Bank hits 20% lower circuit

>> The Reserve Bank of India (RBI) on Tuesday proposed to merge private sector lender Lakshmi Vilas Bank (LVB) with the India subsidiary of Singapore’s DBS Bank, even as LVB was put under moratorium for at least a month by the government.

9:22 AM

FIRST TRADE | Nifty Realty gains over 1%

9:21 AM

FIRST TRADE | Losers and gainers on the S&P BSE Sensex

9:18 AM

OPENING BELL

At 09:16 AM, the S&P BSE Sensex was trading 83 points, or 0.19 per cent lower at 43,870 levels while NSE's Nifty was trading at 12,860, down 14 points, or 0.11 per cent. 

9:09 AM

Commodity Heatmap

9:08 AM

Top gainers and losers on the S&P BSE Sensex at Pre-open

9:06 AM

Markets at Pre-open

9:04 AM

Markets at Pre-open

9:00 AM

Nifty Outlook :: Sumeet Bagadia, executive director, Choice Broking

Nifty has moved above “Ichimoku Cloud” with positive crossover between conversion line and base line which shows the upside movement in the counter. A momentum indicator RSI and MACD both have shown positive crossover on the daily chart which adds more bullishness to the prices.

At present level, the Nifty has good support at 12,560-12,640 range while upside resistance comes at 13,000 levels.