Sensex ends 261 pts up at record closing peak of 48,438; IT stocks outrun

Axis Bank ended the session as top Sensex gainers, up 6 per cent at close, followed by gains in HDFC (2.7 per cent), IndusInd Bank (2.7 per cent), and TCS (1.7 per cent)

3:20 PM

Nifty tops 14,200 for the first time

3:16 PM

Sensex at day's high

3:14 PM

Corporate Action :: India Cements promoters release pledge on 2.91% equity on December 31

3:11 PM

Wipro advances 3%, hits fresh high; trades above share buyback of Rs 400

IT services major Wipro's share buyback programme commenced on December 29 and will close on January 11, 2021. In November, shareholders had approved the buyback plan for purchase of up to 237.5 crore equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore. READ MORE

3:02 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	CHG(%)
TRIDENT	15.44	19.97
ALKYL AMINES	5212.10	17.10
RAIL VIKAS	27.75	15.38
AAVAS FINANCIERS	2056.85	9.85
M R P L	39.60	9.09

2:55 PM

BREAKING :: UK govt offers firms £4.6bn in new lockdown grants

>> Businesses in retail, hospitality and leisure will receive new grants to help them keep afloat until Spring, chancellor Rishi Sunak has said.

 

>> The grants will be worth £9,000 per property, the Treasury says.

2:50 PM

This textile stock has rallied over 100% in 2 months as promoters up stake

Shares of Filatex India hit a fresh 52-week high of Rs 57.90 on the BSE in the intra-day trade on Tuesday, having more-than-doubled in the past two months, after promoters hiked stake in the company via open market. In the past two months, the stock of the textile company​ has​ rallied 111 per cent from ​a ​level of Rs 27.40, as compared to​ a​ 23-per cent surge in the S&P BSE Smallcap index. Between November 19 and December 22, the promoters of Filatex India purchased 11.93 million equity shares, worth Rs 41 crore, of the company via open market, according to the disclosure made by the company to the stock exchanges. READ MORE

2:40 PM

Diversification, deposit growth put IDFC First ahead of Bandhan Bank

Bandhan Bank and IDFC First Bank marked their fifth year of operations in 2020. The interesting similarity between the two is that both took to scale through inorganic routes.

 

Bandhan’s acquisition of Gruh Finance in 2018 brought in a housing finance portfolio and the IDFC Bank’s merger with Capital First (now called IDFC First Bank) gave it the much-needed retail facelift and also ushered organisational changes. READ MORE

2:26 PM

Sector check :: Nifty Bank rises over 1%; Axis Bank jumps 6%, RBI Bank 5%

2:20 PM

HDFC's Q3 biz update confirms recovery; re-rating in HFCs likely: Analysts

Housing sales have picked up in recent months as the economy slowly limps back to normalcy. Global brokerage Jefferies’ proprietary housing affordability index is at the lowest (hence the best) level in the past two decades, and the numbers coincide with the bottom of the previous property cycle in 2003/04. READ MORE

2:10 PM

Bulls back in control :: Indices hit fresh record highs

>> S&P BSE Sensex hits new high of 48,317.69

>> Nifty touches 14,166.4

2:01 PM

SECTOR WATCH:: IT stocks extend their rally

1:48 PM

Indus Towers surges 10% on heavy volumes, hits 52-week high

Shares of Indus Towers (formerly Bharti Infratel) jumped 10 per cent to hit a 52-week high of Rs 264.70 on the BSE in Tuesday's intra-day trade on the back of heavy volumes. The stock surpassed its previous high of Rs 256.80 touched on January 10, 2020. The trading volumes on the counter jumped over three-fold as a combined 10 million equity shares changed hand on the NSE and BSE till 01:02 pm. At the same time, the S&P BSE Sensex was up 0.18 per cent at 48,261. READ MORE

1:36 PM

IT Q3 preview: Large deal wins to drive earnings but margins may take a hit

In a departure from past trend, Indian IT companies may post a strong performance for the third quarter of the financial year 2021 (Q3FY21) on account of healthy order pipeline, large deal signings and going by strong earnings from Accenture, believe analysts. Further, improvement in demand post Covid-19, acceleration in adoption of public cloud model, lower furloughs and decent growth in sectors such as consumer, technology and healthcare are likely to add to the revenues of the IT companies, they say. READ MORE

1:31 PM

TechM partners with College of Military Engineering, Pune for defence solutions

IT major Tech Mahindra on Tuesday said its research and development arm, Makers Lab, has collaborated with the College of Military Engineering (CME), Pune to address challenges in the field of defence through technological innovations. CME will leverage the partnership to address critical military problem statements and be future-ready using next-generation technologies of Artificial Intelligence (AI) and Robotics, a statement said. (Source: PTI)