Sensex soars 380 pts, ends at 51,017; Nifty at 15,301; metal stocks slide

Volatility index, India VIX, however, surged 11 per cent to 21 levels ahead of the expiry of monthly F&O contracts due tomorrow

3:01 PM

NEWS ALERT | Royal Enfield to shut all plants and offices in Tamil Nadu from may 27-29

-- Company says the closure is due to escalating Covid situation in the state

-- It will resume operations with first shift on May 31.

2:48 PM

MARKET UPDATE:: India VIX soars 11%

2:36 PM

Broader market :: BSE MidCap index down 0.05%

2:23 PM

MARKET UPDATE:: Infosys, HDFC, Bajaj Finance among top contributors to Sensex's gain today

2:16 PM

March Quarter Results :: Manappuram Finance declares dividend of Rs 75 paise

>> PAT: Rs 470 cr vs Rs 390 cr YoY

>> Revenue: Rs 1,622 .3cr vs Rs  Rs 1,605.3 cr YoY

>> Provisioning: Rs 106.6 cr vs Rs 80.2 cr QoQ

2:11 PM

Indoco Remedies zooms 20% on strong revenue from international business

Shares of Indco Remedies zoomed 20 per cent to Rs 405 on the BSE in intra-day trade on Wednesday on the back of huge volumes after the pharmaceutical company reported a strong revenue growth from its international business in the March quarter (Q4FY21). The stock surpassed its previous high of Rs 377.15, touched on May 6, 2021. It was trading close to its record high level of Rs 413, hit on May 25, 2015. READ MORE

1:57 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

1:57 PM

Sector Watch :: Nifty Realty index gains over 2%

1:43 PM

ALERT :: Indices extend gain; Nifty surpasses record closing high of 15,313

1:39 PM

European markets check

(Source: Reuters)

1:27 PM

Credit Suisse cuts metals stocks from overweight to underweight

Credit Suisse is cutting metal stocks from overweight (OW) to underweight (UW) in its latest India market strategy. "We book profits on metals, reversing positions added in December-20 and earlier, as P/B relative to market is near a 10-year high. It can go higher and stay elevated in a super-cycle, but we believe the current surge in apparent demand is due to an extreme inventory cycle and not a structural increase. Slower steel capacity increases due to ESG regulations are not sufficient to justify holding on, particularly given the Tata profit surge is iron-ore driven, and should correct," Credit Suisse said. READ MORE

1:19 PM

March Quarter Results :: LT Foods posts profit of Rs 56.4 crore

>> Revenue: Rs 1,129.2 crore

>> Ebitda: Rs 121 crore

1:08 PM

No financial data lost in leak, says Dominos about incident in March

“Domino’s, as a policy, does not store financial details of users such as complete credit card number, CVV, passwords etc and therefore, no such information was compromised,” the company said in an email. It has hired an external agency to assess the impact of the data leak. READ MORE

12:59 PM

These 20 small-cap stocks appear overbought on the charts. Trade cautiously

The overbought condition on any technical parameter hints at the possibility of a correction going ahead. Hence, It is advisable to book profit and buy again at lower levels, if the technical and fundamentals of the company remain robust.

 

Despite being in the overbought terrain, there could be a few stocks that continue to hold positive strength if the fundamentals of the company are robust and there is a genuine demand for its stock as indicated by the trading volume. READ MORE

12:49 PM

Cadila Health in focus :: Zydus, TLC sign agreement to sell Liposomal Amphotericin B in India

>> Amphotericin B Liposome for Injection 50mg is a critical drug to treat Mucormycosis or Black Fungus

>> Under the terms of the agreement, TLC will manufacture and supply AmphoTLC on a non-exclusive basis to Zydus, and Zydus will commercialize AmphoTLC