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

12:40 PM

BSE Consumer Discretionary index hits new high; Shalimar Paints surges 17%

According to a PTI report, the government has begun assessing the impact of the second wave of infections on different sectors and may look at providing support at an appropriate time to segments requiring fiscal help. The services sectors like hospitality, tourism and aviation which had just started recovering were hit hard by the second wave of Covid, the report suggests, quoting sources that these segments might need some support on an urgent basis from the government. READ MORE

12:27 PM

MARKET UPDATE:: Sensex reclaims 51k

12:20 PM

India's Q4 GDP data likely to be better than estimates, say experts

India’s economy is likely to have grown 0.6-2.1 per cent in the fourth quarter of the fiscal year 2020-21 (Q4FY21), said independent economists and leading rating agencies surveyed by Business Standard, better than the government's prediction of a contraction. However, for the entire FY21, they see gross domestic product (GDP) contracting 7-8 per cent. READ MORE

12:07 PM

MARKET UPDATE:: Sensex at day's high

12:00 PM

CG Consumer well placed to gain share on demand recovery across categories

After a strong performance in the March quarter, market share gains, expectations of demand recovery and margin levers are the key triggers for Crompton Greaves Consumer Electricals. The company, which makes a range of consumer products, reported its highest ever quarterly revenues of Rs 1,522 crore, up 48 per cent YoY on a lower base. READ MORE

11:50 AM

SECTOR WATCH:: IT stocks tick up

Company	LATEST(rs)	CHG(%)
Vakrangee	46.50	-1.48
Tanla Platforms	901.15	2.91
Infosys	1378.30	1.20
HCL Technologies	941.00	0.02
Birlasoft Ltd	317.35	2.87

11:38 AM

Increased sustainability disclosures to give leg-up to ESG funds

The increased availability of sustainability data from listed companies is going to help environment, social and governance (ESG) investing gain traction in India.

 

Six out of ten domestic funds with an ESG mandate were launched in the financial year 2020-21 (FY21), noted the May 24 Kotak Securities Strategy report. These funds look at things beyond company profitability when making their investing decisions. The Securities and Exchange Board of India (Sebi) has asked companies to make more details available on sustainability practices that they follow. This is expected to help with their investment decisions. READ MORE

11:26 AM

GST panel rejects demand for tax waiver on Covid-19 vax, ventilator

The goods and services tax (GST) fitment panel, comprising officers from the Centre and some states, has recommended a short-term rate cut on four Covid-19 related items, according to the detailed agenda note for the upcoming Council meeting.

 

The lowest GST slab of 5 per cent has been proposed for oxygen concentrators, medical grade oxygen, pulse oximeters and testing kits, down from 12 per cent currently. READ MORE

11:16 AM

ALERT :: Sensex surges over 300 pts

11:14 AM

ALERT :: Nifty reclaims 15,300 for the first time since March 12

11:03 AM

Top gainers on the BSE at this hour

Company	PRICE(rs)	CHG(%)
Dish TV India	17.35	12.44
Lux Industries	2546.70	10.03
Wockhardt	790.70	9.36
Himadri Special	53.90	9.00
Mahindra Holiday	254.00	8.92

10:51 AM

Thermax rallies 8% on strong Q4 results; stock nears 52-week high

Shares of energy solutions firm Thermax rallied 8 per cent to Rs 1,526.95 on the BSE, in Wednesday’s intra-day trade, after the company reported strong earnings for March quarter (Q4FY21). Its consolidated profit after tax (PAT) more-than-doubled at Rs 107 crore as against Rs 39 crore clocked in Q4FY20. The stock was trading close its 52-week high of Rs 1,550, touched on May 7, 2021. READ MORE

10:44 AM

Gold rises above $1,900/oz as dollar weakens, inflation jitters persist

Gold prices rose above the key psychological level of $1,900 per ounce on Wednesday, helped by a weaker dollar and growing inflation concerns after Federal Reserve officials maintained a dovish stance over rates. Spot gold rose 0.4% to $1,906.99 per ounce by 0032 GMT, its highest level since January 8. US gold futures gained 0.5% to $1,906.60 per ounce. READ MORE

10:34 AM

MARKET UPDATE:: Sensex regains momentum

10:29 AM

Titan Company gains 6% in two days; stock nears record high

On April 29, Titan reported robust sales growth of 61 per cent year on year (YoY) in the January-March quarter (Q4FY21) but operating performance was below Street estimates on lower Ebitda (earnings before interest, taxes, depreciation, and amortisation) margins (down 250 basis points) due to a steep fall in gross margin. The company attributed the margin miss to weak revenue mix, higher coins & B2B sales in jewellery and impact of custom duty reduction. READ MORE