Sensex slips 81 pts ahead of FY21 advance GDP estimate; midcaps outperform

Overall, market breadth remained in the favour of the bulls with nearly two stocks rising against a stock that declined at the bourses

3:23 PM

ISPL repays debt amounting to nearly Rs 845 cr after EEPL clears dues

IL&FS Solar Power Limited (ISPL) has paid its entire debt amounting to nearly Rs 845 crore to its creditors - including financial and operational debt, thereby helping the IL&FS Group move ahead with the resolution process. This follows pre-payment by Embassy Energy Private Limited (EEPL) for the financial assistance provided by ISPL. READ MORE

3:08 PM

MARKET CHECK

2:59 PM

Metals extend rally on strong demand; Tata Steel zooms 97% in 3 months

Shares of metal companies extended their rally into Thursday, with the Nifty Metal index surging 4 per cent to hit a fresh 52-week high of 3,564 on the National Stock Exchange (NSE) on strong demand outlook. In comparison, the Nifty50 index hit a fresh record high of 14,256 today. The index was up 0.28 per cent, at 02:15 pm. Tata Steel, Hindustan Copper, Jindal Steel and Power (JSPL) and Hindalco Industries from the Nifty Metal index were up between 5 per cent and 9 per cent. NMDC, Hindustan Zinc, Steel Authority of India (SAIL), JSW Steel and National Aluminium Company gained in the range of 2 per cent to 3 per cent on the NSE. READ MORE

2:46 PM

GLOBAL MARKET CHECK

• Futures on the S&P 500 Index gain 0.4%
• Stoxx Europe 600 Index increases 0.2%
• MSCI Asia Pacific Index climbs 1%
• MSCI Emerging Market Index rises 0.4%

2:43 PM

SBI raises $600 mn from overseas bond sale at 1.80% coupon

The nation's largest lender State Bank of India (SBI) on Thursday raised USD 600 million from selling bonds to international investors at a coupon of 1.80 per cent. The issue, oversubscribed by 2.1 times, is part of the bank's USD 10 billion medium term note programme, the ratings of which were withdrawn by the rating agency Moody's on Wednesday. (Text Source: PTI)

2:43 PM

Steel stocks hit fresh high on price hike, improvement in production

Stocks of all major steel producers hit a new one-year high with Tata Steel leading the pack. The stock gained 6.1 per cent intraday and touched a new 52-week high of Rs 725.70 on the Bombay Stock Exchange (BSE). The Jindal Steel & Power (JSPL) scrip touched Rs 300.90, JSW Steel Rs 412.95 and Steel Authority of India Ltd (SAIL) Rs 80.35. READ MORE

2:34 PM

Saudi's surprise output cut to lift Brent to $60/barrel by mid-year: UBS

UBS raised its forecast for Brent oil prices to $60 per barrel by mid-year, following Saudi Arabia's surprise unilateral production cut and expectations of a sharp recovery in demand in the second quarter on vaccine rollouts and increased travel.
 

With Saudi Arabia's move, OPEC's production increase of 0.5 million barrels per day (bpd) for January is reversed in full, which will result in a tighter oil market in the first half of the year, analysts at the Swiss bank wrote in a note. READ MORE

2:25 PM

NEWS ALERT :: Congress has affirmed President-elect Joe Biden's victory, reports CNN

>> Donald Trump finally pledges an "orderly" transfer of power to Biden, while repeating false claims about the election that led to a mob storming the Capitol.

2:19 PM

NEWS ALERT :: Tata Power bags a 110 MW solar project

>> Order given by Kerala State Electricity Board

>> Project cost: Rs 488 crore

>> Time period: 18 Months after signing of Power Purchase Agreement

2:10 PM

M-cap of top 7 global tech stocks surged 61% last year, shows data

Tesla’s share price has risen 729 per cent in the past year, while share prices of Apple and Amazon have gained 76 per cent and 71 per cent during this period. The year has been good for India’s tech bellwethers as well. TCS, Infosys, HCL Technolgies, and Wipro have seen their combined market cap rise by 53 per cent or by Rs 7.6 trillion (about $105 billion). Their shares have risen 41-73 per cent. READ MORE

2:00 PM

BUZZING STOCK:: Bharat Forge surges 9%

1:56 PM

NEWS ALERT :: Govt has allowed passenger aircraft to transport vaccines, reports ANI

1:48 PM

Bharti Airtel regains Rs 3 trillion market-cap as stock surges over 5%

As shares of Bharti Airtel rallied 5.5 per cent to Rs 554 on the BSE in intra-day trade on Thursday on the back of heavy volumes, the firm regained its market capitalisation of Rs 3 trillion. The stock was trading at its highest level since September 2, 2020. At 01:14 am, Bharti Airtel's market capitalisation stood at Rs 3.01 trillion, the BSE data showed. The trading volumes on the counter more-than-doubled as a combined nearly 30 million equity shares changed hands on the NSE and BSE till the time of writing of this report. The stock hit a record high of Rs 611.70 on May 20, 2020, which was also its 52-week high. READ MORE

1:39 PM

Q3 Biz Update :: Witnessed normalization in demand in domestic and international mkts, says S H Kelkar

>> As informed in the earlier business update dated December 9, 2020, the global Fragrance and Flavours (F&F) industry has been witnessing notable increases in key raw material prices. In order to mitigate the near-term uncertainties in raw material prices, the Company proactively built-up its inventories to ensure continued supplies across all its customers. However, the Company believes that the surge in raw material prices is transitory in nature and the situation should normalize in the near to medium-term.

1:31 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI ENTERP.	519.70	521.80	5.81
ADANI PORTS	518.00	519.35	4.29
ADANI TRANSMISSI	455.65	464.00	0.52
AJANTA PHARMA	1772.15	1786.90	4.00
AMARA RAJA BATT.	985.15	996.80	0.61