Bulls reign on 1st day of 2021; Sensex ends 118 pts up at 47,869; PSBs gain

In the broader market, the S&P BSE MidCap and SmallCap zoomed 1 per cent and 0.9 per cent, respectively

12:50 PM

Rupee becomes worst-performing Asian currency; bonds rally in 2020

The rupee ended at 73.1 a dollar on Thursday, against 71.4 at the end of 2019. It has depreciated 2.3 per cent in this calendar year, becoming the worst-performing currency in Asia. The rupee’s performance is also in sync with the aggressive foreign exchange reserve accumulation by the RBI. READ MORE

12:39 PM

SECTOR UPDATE | Nifty Realty off day's low, rises 0.22%

12:35 PM

BUZZING STOCK:: Kansai Nerolac Paints at day's high

12:23 PM

Tata Sons overtakes govt as largest promoter of listed companies

Tata Sons ended the calendar year as the largest promoter of listed companies in the country, ahead of the central government. For the first time in nearly two decades, the government is no longer the largest promoter group on the bourses, thanks to a double-digit decline in the market capitalisation of government owned and promoted companies during the calendar year. READ MORE

12:12 PM

MARKET UPDATE:: Sensex holds morning gains

12:11 PM

Asian Paints hits fresh 52-week high of Rs 2,781.75

12:00 PM

Q&A | Most mid, small-caps still trading below fair value: Umang Papneja

The equity markets rallied sharply after the unprecedented stimulus of the central bank earlier this year. The November rally was triggered by vaccine announcements while sectors related to economic recovery have played catch-up. There seems to be a valid concern around a new fast-spreading strain of the virus, but lower interest rates and central bank action will provide strong support to the markets. We are equal weight on mid- and small-caps. Although there are a few pockets showing signs of overvaluation, a vast number are still below fair value. Some catch-up is expected and we are unlikely to go underweight here in the near future. READ FULL INTERVIEW HERE

11:50 AM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
INDOSTAR CAPITAL	345.00	10.21
RAIN INDUSTRIES	136.35	7.79
TRIDENT	10.45	5.77
G S F C	76.30	5.46
BHARAT ELECTRON	126.00	5.00

11:50 AM

Stock Idea by Geojit Financial: Petronet LNG

Q2FY21 sales were down 33.4% YoY to Rs. 6,236cr. The company registered adjusted PAT decline of 20.8% YoY, reaching Rs. 919cr. EBITDA margin improved by 950bps YoY to 21.9%, primarily due to reduction in operating cost and effective commercial planning. Petronet LNG’s volume demand reaching pre-COVID levels, improvement in operational efficiency, and commissioning of the Kochi-Mangalore pipeline will boost performance in upcoming quarters. Hence, we reiterate our BUY rating on the stock with a revised target price of Rs. 327 based on 15.0x FY22E adj. EPS.

11:40 AM

NEWS ALERT :: Gayatri Projects wins highway project worth Rs 1,323.5 cr; stock up 3%

11:38 AM

NEWS ALERT :: Praj Industries bags Rs 230 crore contract from Indian Oil

-- Praj Industries in a BSE filing said it has received an order for Rs 226.90 crore from Indian Oil for execution of Zero Liquid Discharge System at IOCL Dumad, Gujarat. Following this the stock rose 6% on the BSE.

11:34 AM

December Auto Sales :: M&M's tractor sales rise 21% YoY

11:32 AM

December Auto Sales :: M&M reports overall auto sales for Dec 2020 at 35,187 units vs 39,230 units in Dec 2019

11:32 AM

Rel Infra completes sale of Delhi-Agra toll road to Cube Highways for Rs 3,600 cr

Reliance Infra on Friday announced completion of sale of its Delhi-Agra (DA) toll road to Cube Highways and Infrastructure for Rs 3,600 crore. In a regulatory filing, Reliance Infrastructure Ltd said it has completed the sale of its 100 per cent stake in DA Toll Road to  Cube Highways and Infrastructure III Pte Ltd for an enterprise value over Rs 3,600 crore. (Text Source: PTI)
 

 

11:27 AM

Escorts, M&M: Tractor stocks could see 20-30% upside, charts suggest

Analysts at Nirmal Bang Institutional Equities expect tractor firms to continue posting strong sales numbers as demand continues to remain healthy on account of good Rabi sowing. Moreover, inventory continues to remain lower than normal level, they said in a report dated December 30. READ MORE