Indices snap 10-day winning streak; Sensex tanks 264 pts; ITC, RIL drop 3%

In the broader market, the S&P BSE MidCap index ended the day in the green, up 0.4 per cent at 18,749 level.

3:14 PM

ITC dips 3% on profit booking as govt drafts law to raise legal smoking age

The central government, through the proposed Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) Amendment Act, 2020, seeks to raise the minimum age limit for sale of cigarettes and tobacco products from 18 years to 21 years, and restrict their sale within 100 meters of any educational institution. READ MORE

3:04 PM

Prime Minister Narendra Modi to interact with leading economists on Friday

Prime Minister Narendra Modi will interact with leading economists and sectoral experts on Friday to deliberate on measures that may be included in the upcoming budget for promoting growth, amid uncertainty on multiple fronts caused by COVID-19. The meeting, being organised by the government think tank Niti Aayog will be held virtually and will also be attended by Niti Aayog Vice Chairman Rajiv Kumar and Niti Aayog CEO Amitabh Kant. (Text Source: PTI)

2:57 PM

Tata Motors to re-launch flagship SUV Safari in a new avatar this month

“We are proud and elated to re-introduce our flagship SUV–Safari. The Safari, an iconic brand with a strong following, has been the most sought after SUV on Indian roads for well over two decades. In its new avatar, the Safari will appeal to the socially active, fun loving customers who seek out unique experiences and adventure. Its design, performance, versatility, features, and long lasting build quality, reinforce the SUV lifestyle to provide unending pleasure,” said Shailesh Chandra, president - Passenger Vehicles Business Unit, Tata Motors, in a statement. The launch of the Safari will once again re-energise the market, amplifying its cult status, Chandra added. READ MORE

2:49 PM

NEWS ALERT :: 4 workers died, few others fell ill after inhaling a toxic gas leaked from SAIL's Rourkela Plant

>> SAIL says a high level committee has been formed to inquire into the cause of the incident and all emergency protocols have been immediately activated in the plant

2:43 PM

BUZZING STOCK:: SRT Finance zooms 6% in an otherwise weak market

2:37 PM

NEWS ALERT | Japan to declare COVID-19 emergency in Tokyo area from Saturday: Report

>> Japan will declare a month-long emergency in Tokyo and surrounding areas to tackle a surge in coronavirus cases from Saturday until Feb. 7, broadcaster Asahi TV reported.

 

>> Japan’s capital recorded a record number of daily coronavirus cases on Wednesday, with at least 1,591 new infections.

2:34 PM

BUZZING :: PowerGrid rises over 4% in a weak market

2:22 PM

Nasdaq futures extend decline, down over 2%

-- Source: Agencies

2:21 PM

Sensex slides over 400 points, near day's low

2:20 PM

Sensex Heatmap at this hour

2:12 PM

Bitcoin's emergence as 'digital gold' could lift price to $146,000: JPMorgan

Digital currency bitcoin has emerged as a rival to gold and could trade as high as $146,000 if it becomes established as a safe-haven asset, investment bank JPMorgan (JPM) said on Tuesday.
 

Interest in the world's biggest cryptocurrency has soared this year, with investors viewing bitcoin as a hedge against inflation and an alternative to the depreciating dollar. The rush led to bitcoin prices more than tripling in the past six months to a record peak of $34,800 on Jan. 2. READ MORE

2:02 PM

CLSA sees 31% upside in RBL Bank on stable deposits, robust credit card biz

In a report dated January 5, CLSA said the bank is re-aligning its product portfolio and is now focusing on key retail-asset niches. The bank built its credit-card and microfinance (MFI) business over the past three to four years and scaled it further through tie-ups. This, they say, will drive the bank's profitability going forward. READ MORE

1:51 PM

MARKET UPDATE:: Sensex at day's low

1:45 PM

JBM Auto incorporates subsidiary; stock surges 12%, hits 52-week high

Shares of JBM Auto advanced 12 per cent to Rs 323, also its 52-week high, on the BSE on Wednesday after the company said it has formed a new company, JBM Ecolife Mobility Private Limited, to leverage growth opportunities in the electric vehicles segment. “The Company has incorporated a wholly owned subsidiary company "JBM Ecolife Mobility Private Limited” as approved by Ministry of Corporate Affairs (“MCA”) vide certificate of incorporation dated 06 January, 2021,” JBM Auto said in a regulatory filing. READ MORE

1:32 PM

Power Finance Corp to sell bonds worth $1.4 billion to individual investors

India’s biggest lender to the power sector plans to sell bonds to individual investors as it tries to attract savers dissatisfied with deposit rates at a 16-year low. Power Finance Corp. has filed a draft prospectus for a 100-billion-rupee offering ($1.4 billion), and plans to raise the entire sum this quarter, according to Parminder Chopra, director (finance). “We want to explore an alternative source of funds,” Chopra said in a telephone interview. “Fixed deposit rates are quite low, so there could be interest from the public to get a bit better rate.” READ MORE