Sensex skids 531 pts; RIL, IndusInd Bank dip 5%, pharma stocks outperform

India VIX ticked up 4 per cent

1:38 PM

Lupin gets USFDA nod to market generic Sevelamer Carbonate tablets

Drug firm Lupin on Monday said it has received nod from the US health regulator to market its generic Sevelamer Carbonate tablets that are used to control phosphorus in people with chronic kidney disease on dialysis. The company has received approval to market its Sevelamer Carbonate tablets in the strength of 800 mg from the United States Food and Drug Administration, (USFDA), Lupin said in a statement. (Text Source: PTI)

1:29 PM

Q3 preview: IndiGo, SpiceJet to benefit from weak dollar, festive travel

A troika of festive travel, low fuel costs, and rupee appreciation may help IndiGo and SpiceJet to narrow their losses during the December quarter of FY21, say analysts. The recovery in earnings, however, may be capped by weak air fares, and stricter travel restrictions amid a new strain in coronavirus (Covid-19). While most analysts remain divided on the quantum of loss incurred by domestic airlines during the quarter, they unanimously agree that the Indian aviation sector is on a slow but steady path to recovery. READ MORE

1:19 PM

UCO Bank logs net profit at Rs 35 cr in Dec quarter

State-owned UCO Bank on Monday reported a net profit of Rs 35.44 crore in the third quarter ended December of the current fiscal year due to substantial fall in bad loans leading to lowering in provisioning requirements. The Kolkata-headquartered lender had posted a net loss of Rs 960.17 crore in the same quarter of the previous fiscal year. Sequentially, there was a net profit of Rs 30.12 crore in the second quarter ended September 2020 of this fiscal. 

1:10 PM

Retail investors in driver's seat; dwarf FII flow into mkts in 2 yrs: UBS

Foreign investor flows – considered to be the movers and shakers of equity markets – have taken a backseat over the past couple of years with retail investors now being in the driver’s seat, suggests a recent report from foreign brokerage firm UBS. The report is based on a survey done in November 2020 that was focused on urban consumers with an average income of Rs 95,000 per month. READ MORE

12:55 PM

IT sector biggest contributor to India Inc dividend pool in the past decade

The information technology (IT) sector emerged as the biggest contributor to India Inc’s dividend pool in the past decade. The oil & gas sector had been the biggest contributor to the profit pool, showed a study conducted by Motilal Oswal. The brokerage analysed profits and payouts for 186 companies between FY10 and FY20. READ MORE

12:44 PM

Up 160% in 10 months; will Grasim's foray into paint biz mean more upside?

A strong growth outlook for the paints sector has Grasim Industries hooked as it looks to identify new growth engines. However, analysts believe the path to success in the oligopolistic Indian paint market will not be an easy feat to achieve. Grasim on Friday announced that it will foray into the paints business with an initial investment of Rs 5,000 crore over the next 3 years. This is part of the company's endeavours to invest in businesses that have the potential to be a leader in their addressable markets and generate consistent and attractive returns in the long term. READ MORE

12:37 PM

Logistics shares gain; Gateway Distriparks zooms 55% in 5 days

In Q3FY21, Gateway Distripark’s consolidated net profit nearly doubled to Rs 32.62 crore, led by strong operating performance. The company, a leading integrated inter-modal logistics facilitator, had posted a profit of Rs 16.39 crore in the year-ago quarter. The company’s Ebitda (earnings before interest, taxes, depreciation, and amortization) margins improved 520 basis points (bps) to 26.9 per cent from 21.7 per cent in Q3FY20. READ MORE

12:28 PM

BSE advance-decline ratio at 1:2 at this hour

12:26 PM

Indian, Chinese soldiers clash at Sikkim's Naku La, several injured

Indian and Chinese soldiers clashed at Naku La in North Sikkim last week with many injuries reported, said a government source. The situation is said to be under control though as of now. Naku La, incidentally, was one of the original face-off sites, along with Pangong Tso, Galwan, Gogra, Hot Springs, in early-May last year. The government source said the clash took place three days ago. It happened while both the countries' government and military were readying for another round of talks to resolve border dispute along the 3,488 kilometre-long Line of Actual Control. READ MORE

12:10 PM

IPO Update | Home First Finance IPO subscribed nearly 3 times so far

12:01 PM

MARKET UPDATE:: Sensex declines again in volatile session

11:48 AM

Q&A | Faster withdrawal of global stimulus can impact markets: Vetri Subramaniam

It is not just the Indian markets that are at all-time highs. Several markets, in developed and developing countries, are trading at either lifetime or multi-year highs. Without a doubt, fiscal and monetary support across geographies have contributed to this outcome. This support has enabled the markets to look beyond Covid-19, considering the loss of output as being temporary. READ INTERVIEW HERE

Vetri Subramaniam, group president and head of equity, UTI AMC

11:47 AM

MARKET UPDATE:: Broader indices underperform benchmarks; India VIX rises 4%

11:35 AM

Top losers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
APOLLO TYRES	217.00	-6.43
TUBE INVESTMENTS	774.00	-5.79
KANSAI NEROLAC	613.25	-5.73
POLYCAB INDIA	1213.60	-5.14
INFO EDG.(INDIA)	5074.85	-5.07

11:25 AM

ALERT :: Sensex slips again on reports of clash between Indian and Chinese troops in Sikkim

>> Reports suggest Indian & Chinese Army clashed at Naku La Pass in Sikkim around three days ago.

>> Injuries have been reported on both sides.

>> Situation peaceful at the moment