Indices end at yet another peak, Sensex up 315 pts; BSE Midcap outperforms

All that happened in the markets today

2:37 PM

BROKERAGE VIEW | Edelweiss Securities on Natco Pharma

RATING: HOLD | TARGET PRICE: Rs 920

Strong flu season, gTamiflu profit share and gRevlimid & agrochem product approvals are awaited in FY21. FY22 looks promising with gNexavar and gRevlimid launches, but NTCPH is yet to deliver on EMs, a sustainable domestic cardio-diabetes and agrochem execution is untested. Maintain ‘HOLD’, but revise TP to Rs 920, based on 22x FY22E core earnings that yields Rs 552, gRevlimid Rs 220, gImbruvia Rs 102 and other products Rs 45 per share. 

2:26 PM

European shares slip after vaccine-driven rally

>> European stocks eased from eight-month highs on Tuesday as tighter coronavirus restrictions across the continent halted a market rally that was powered by encouraging Covid-19 vaccine updates.

 

>> The pan-European STOXX 600 index slipped 0.1%. It closed at it highest level since Feb. 27 on Monday after positive data from drugmaker Moderna's Covid-19 vaccine.

(Source: Reuters)
 

2:24 PM

Top gainers on the BSE at this hour

2:17 PM

S&P BSE MidCap index up 1%

2:09 PM

Market Voice :: Shankar Sharma on global rally and market volatility

2:04 PM

Hotels limp back to normalcy as business travel remains depressed

Hotels are limping back to normalcy albeit in an uneven way even as the business travel remains depressed. Amid the gloom and doom, the re-opening of restaurants and the recent notification by the Maharashtra government which gives the hospitality sector industry status has come a relief said top officials for hospitality firms. READ MORE

1:55 PM

BROKERAGE VIEW | YES Securities on KNR Constructions

RATING: BUY | TARGET PRICE: Rs 304 

With better labor availability and with Monsoon largely behind, execution momentum is likely to continue through H2 FY21. Operating margin is expected to remain healthy at ~17-18% levels driven by the high margin irrigation projects. The order book is in a comfortable position with ~4x FY20 revenues. Recent order inflows, continued focus on asset monetisation and comfortable balance sheet position provide comfort. We retain our estimates for FY21/22 and maintain our BUY rating for target of Rs 304 (based on SOTP valuation). Significant presence in high growth Roads and Water segment would augur well for KNR.

1:48 PM

M&M to manufacture K2 tractor series in Telangana; to invest Rs 100 cr more

The new K2 series is Mahindra's most ambitious light-weight tractor programme. It has four platforms and the company will introduce 37 models in various horsepower (HP) ratings for domestic and international markets, including the US, Japan and South East Asia, M&M said in a regulatory filing. READ MORE

1:39 PM

Covid-19 blues, funding crunch, made Urban Ladder do a fire sale to RIL

Online furniture and home decor store Urban Ladder had been struggling for the past two years due to the funding crunch. The coronavirus pandemic exacerbated the company’s financial woes and it was bought by Reliance Industries’ (RIL’s) retail arm in a fire sale, according to analysts and industry insiders. READ MORE

1:28 PM

Nifty Realty Index gains over 2% in trade

1:18 PM

BUZZING STOCK | Thomas Cook (India) hits 20% upper circuit

1:08 PM

At 88%, India's market cap-to-GDP ratio is now highest in 12 quarters

The Indian equity market continues to scale new highs, moving in tandem with the upswing in global markets after the election victory of Joe Biden in the US Presidential elections.

 

On Saturday, the combined market capitalisation (m-cap) of all listed and traded companies on the BSE reached a fresh all-time high of Rs 169.3 trillion — nearly Rs 6 trillion higher than the pre-Covid high of Rs 163 trillion. READ MORE

12:58 PM

Adani Gas, UltraTech, HDFC Life, and Astral Poly hit record high today

Shares of Adani Gas, Adani Green Energy, UltraTech Cement, HDFC Life Insurance, Astral Poly Technik, Escorts, and Jubilant FoodWorks were among 16 stocks from the S&P BSE500 index hitting their respective record highs on the BSE on Tuesday. Apollo Hospitals Enterprises, Balkrishna Industries, Divi’s Laboratories, Havells India, Info Edge (India), and PI Industries were among others hitting new highs today. READ MORE   

12:45 PM

Higher promotion costs, staff expenses to weigh on Info Edge margins

Info Edge (India) reported muted operational performance in the September quarter (Q2). The disappointment was on the margin front, given that higher advertising costs — especially on its matrimonial segment (Jeevansathi) — weighed on operating profit. READ MORE

12:36 PM

BPCL disinvestment gets going. Time to bet on OMCs? Here's what charts say

Shares of oil marketing companies (OMCs) were trading in the negative territory in an otherwise steady market on Tuesday. At 11:50 AM, BPCL was down nearly 4 per cent at Rs 397 on the BSE, a day after the government said it has received multiple expression of interest (EoIs) for the divestment of BPCL. The sale is crucial for the government in order to meet its disinvestment target of Rs 2.1 trillion for the current fiscal. Reliance Industries, however, did not put in a bid, nor did its partner Saudi Aramco. READ MORE