Banks, RIL lift Sensex 397 pts; broader indices underperform

ICICI Bank (up 2.7 per cent), HDFC, Axis Bank, Sun Pharma, and NTPC were the top gainers on the frontline S&P BSE Sensex

3:08 PM

Auto ancillary shares in focus; Rane Brake zooms 20%, Minda hits new high

Shares of auto ancillary companies, including auto parts & equipment producers and tyre manufacturers,were in focus on the bourses on Tuesday with six stocks hitting 52-week highs while two stocks -- Minda Corporation and Minda Industries -- touched their respective record highs on the BSE. READ MORE

2:56 PM

OPEC+ yet to make progress in resolving impasse preventing deal: Sources

OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely, OPEC+ sources said. Russia has been working behind the scenes to bring Riyadh and Abu Dhabi back to the table to find a path to agreement, sources told Reuters. READ MORE

2:48 PM

BUZZING :: CDSL zooms over 13%

2:31 PM

Tanla Platforms hits 5% upper circuit for 2nd day straight on buyback plan

the board will also consider a proposal for buyback of the equity shares of the company including matters related/incidental thereto (“Buyback”) and any other matter as the board of directors of the company may decide during the course of the meeting, Tanla Platforms said in exchange filing on Monday, July 12. READ MORE

2:19 PM

Infosys Q1 preview: PAT likely to grow 27-30% YoY; may up FY22 guidance

Analysts expect strong deal momentum, seasonality factor and traction in cloud to drive Infosys' performance in the June 2021 quarter of financial year 2021-22 (Q1FY22). They peg bottomline growth at 27-30 per cent and topline (in rupee terms) at 16-17 per cent, yearly. Unlike for other information technology (IT) firms, analysts see margin expansion for Infosys during the quarter under review due to absence of wage hikes and healthy improvement in revenues. Furthermore, large deal TCV is likely to be robust. READ MORE

 

1:59 PM

Tatva Chintan Pharma Chem IPO to open on Jul 16

Specialty chemical manufacturing company Tatva Chintan Pharma Chem on Tuesday fixed a price band of Rs 1,073-1,083 a share for its Rs 500-crore initial share sale. The three-day initial public offer (IPO) will open on July 16 and conclude on July 20 and the bidding for anchor investors will open on July 15, the company announced in a virtual press conference. The Rs 500-crore IPO comprises fresh issuance of equity shares worth Rs 225 crore and an offer of sale to the tune of Rs 275 crore by existing promoters and shareholders.

 

Text Source: PTI

1:38 PM

NEWS ALERT

1:14 PM

Global markets :: UK shares up as Boris Johnson announces further unlocking from July 19

Source: Reuters

1:01 PM

Paper stocks see strong investor interest as biz cycle turns favourable

The paper industry has seen a recent surge of investment interest. Part of this is a natural consequence of investments in the packaging industry, which is doing well. Investors expect the paper cycle to also remain strong as a result.

 

However, unlike in the packaging sector, the financial position is less clear in the paper industry. Approximately 20-25 per cent of the revenues of the paper industry are generated by listed companies, with the rest coming from smaller mills. READ MORE

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12:34 PM

Mid-market view :: Gaurav Garg, Head of Research, CapitalVia Global Research

In morning trade, Indian equities indexes held on to their early gains, trading roughly half a percent higher. A private report stated that business activity had returned to pre-second wave levels for the eighth week in a row, as new coronavirus illness cases decline which has been positive for the business. Although gains remained restricted by government statistics showing that retail inflation stayed above the RBI's comfort zone for the second month in a row in June, despite falling marginally to 6.26 percent. As investors awaited the start of the second-quarter earnings season and a batch of economic data to evaluate the next leg of the bull market, Wall Street's main indexes gained on Monday, with the NASDAQ and the S&P 500 setting new highs. Asian markets were mostly trading with positivity following the positive cues from the Wall Street.

 

We witnessed a lackluster movement in the market between 15750-15800. 15800 will be a keep resistance level. If the market breaches and sustains above the level, we can witness a positive movement in the market till the level of 16100-16150.

12:30 PM

Brightcom Group rallies ahead of preferential issue, zooms 174% in a month

Shares of Brightcom Group were locked in upper circuit of 5 per cent at Rs 34.85 on the BSE in Tuesday's session ahead of board meeting to consider preferential issue of equity shares to specific individuals. The stock of the information technology (IT) software company was trading at its 52-week high level. It was frozen in the upper circuit for seventeenth straight trading day on the BSE. READ MORE

12:01 PM

SBI Life Insurance hits record high; gains 16% in three months

Shares of SBI Life Insurance (SBIL) hit a record high of Rs 1,049.85, up 1.5 per cent on the BSE in the intra-day trade on Tuesday. The stock of the insurance company surpassed its previous high of Rs 1,040, touched on May 7, 2021. READ MORE

11:34 AM

Zomato's grey market premium is on a steady decline; here's why

The IPO which is priced in the range of Rs 72-76 per share looks to raise Rs 9,000 crore when it kicks off on Wednesday, July 14. "While the primary market is abuzz, the grey market premium has come off steadily to Rs 7.75 per share or 10 per cent in early Tuesday trade. As on Monday, the scrip was changing hands at a premium of 13 per cent and last week at a premium of 25 per cent," an analyst with a local brokerage said. READ MORE

11:03 AM

Rising fuel prices eating into non-discretionary, health spends: SBI report

“Our analysis of SBI card spends indicates that spend on non-discretionary health expenditure has been substantially reduced to accommodate increased expenditure on fuel. In fact such spending has more than crowded out the spending on other non-discretionary items, like grocery and utility services to such an extent that the demand for such products has significantly declined,” wrote Dr. Soumya Kanti Ghosh, group chief economic adviser at SBI in a July 13 note. READ MORE

10:41 AM

SML Isuzu, Force Motors rally up to 47% so far in July on robust June sales

Shares of SML Isuzu and Force Motors continued their northward movement, hitting their respective fresh 52-week highs on the BSE in the intra-day trade on Tuesday. Thus far in the month of July, these stocks have zoomed 47 per cent and 39 per cent, respectively after reported a healthy set of sales numbers for the quarter ended June 2021. READ MORE