Sensex ends 549 pts down at 49,035; HCL Tech declines 4%; Tata Motors up 7%

Stock market updates: India VIX ticked up 5 per cent

11:27 AM

Top losers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
DISHMAN CARBOGEN	152.35	-3.24
SCHNEIDER ELECT.	96.35	-2.92
AEGIS LOGISTICS	274.80	-2.86
CERA SANITARY.	3420.90	-2.68
MOTHERSON SUMI	162.60	-2.66

11:10 AM

Markets extend decline; Nifty50 erases 100 pts

11:04 AM

Bajaj Finance rises on raising funds via NCDs

The NBFC firm has allotted 2,220 secured NCDs of face value of Rs 10 lakh each aggregating to Rs 222 crore on a private placement basis.

10:55 AM

BSE advance-decline ratio at 2:3 in morning session

10:49 AM

NEWS ALERT :: Max India appoints Ranjit Mehta as Managing Director

10:46 AM

Tata Steel Long back in the black in Q3, posts PAT of Rs 304 cr; stk up 13%

Shares of Tata Steel Long Products hit a fresh 52-week high of Rs 810, zooming 13 per cent on the BSE on Friday, after the company reported a consolidated net profit of Rs 304 crore for the quarter ended December 2020 (Q3FY21), on the back of strong operational performance. The Tata group company had posted a consolidated a net loss of Rs 112 crore in December 2019 quarter (Q3FY20). READ MORE

10:39 AM

Borrowing cost surges in bond market over RBI's measures to drain out cash

Borrowing costs for companies in the Indian rupee bond market are surging after the nation’s central bank unveiled measures to drain cash it had infused into the financial system to counter the impact of the pandemic. Average yields on three-year rupee bonds rated BBB have risen 28 basis points this week through Thursday, on track for their biggest weekly increase since 2018, according to data compiled by Bloomberg. Borrowing costs for top-rated issuers have climbed by a similar amount, but they generally have greater access to funding than weaker peers. READ MORE

10:31 AM

Strides Pharma Science arm gets USFDA nod for HIV treatment drug

Drug firm Strides Pharma Science on Friday said its step-down wholly-owned subsidiary, Strides Pharma Global, has received approval from the US health regulator for Emtricitabine and Tenofovir Disoproxil Fumarate tablets, used to treat HIV. The approved product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Truvada tablets of Gilead Sciences. (Text Source: PTI)

10:28 AM

Rupee Opening

Rupee opens at 73.08 per US dollar vs Thursday's close of 73.04/$

10:23 AM

HCL Technologies dips 2% on profit booking post December quarter results

Shares of HCL Technologies dipped 2 per cent to Rs 1,007 on the BSE in early morning trade on Friday, down 5 per cent in the past three trading days, on account of profit booking after the company reported a 26.2 per cent quarter on quarter (QoQ) growth in consolidated net profit at Rs 3,969 crore in December quarter (Q3FY21) earlier today. READ MORE

10:18 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	12.32	0.16
SUZLON ENERGY	6.78	4.95
S A I L	69.35	3.12
TRIDENT	14.66	1.95
PUNJAB NATL.BANK	36.75	-0.68

10:14 AM

MARKET VIEW | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

As repeatedly pointed out, most indicators of market valuations are much higher than long-term averages. Now, an important indicator - market cap to GDP- has crossed 100 % indicating overvaluation. However, economic indicators are suggesting faster than expected recovery in the economy. Present valuations can be justified only if the recovery sustains and gathers momentum. In the short run expectations regarding the budget are likely to influence market movements. Retail investors buying low-grade stocks is an extremely risky investment. 

10:07 AM

Bharti Airtel surges 5% on hopes of weightage increase in MSCI indices

Shares of Bharti Airtel surged 5 per cent to Rs 610 on the BSE on Friday after the global index provider MSCI said it will take a decision on increasing the weightage of the telecom services provider at upcoming index review in February. The stock was trading close to its record high level of Rs 612, touched on May 20, 2020. READ MORE

10:00 AM

Shares of Shyam Telecom drop 4% as delisting proposal fails to go through

The offer for voluntary delisting of equity shares of Shyam Telecom from stock exchanges "is deemed to have failed" as the minimum number of shares required for delisting was not tendered, the company informed in a BSE filing.

9:49 AM

Sea of red :: Sensex tumbles 350 pts; IT, pharma, financials crack