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

1:18 PM

IDFC shares rally 16% in intraday trade, near 52-week high

- Sipadan Investments offloaded 1.83 per cent stake in the firm between December 17 and January 5 via open market transaction. Sipadan had earlier sold 2.17 per cent stake in the firm between November 23 and December 16. 

1:14 PM

Festive sales and pent-up demand push Titan closer to growth in Q3

Riding on the back of festive sales and pent up demand, jewellery-to-watches maker Titan, which had seen a washout of sales in the first quarter of FY21 because of lockdown disruptions, has moved much closer to growth.

 

While the jewellery division has crossed the recovery phase to growth phase, watches and eyewear divisions have also moved much closer to the full recovery. READ MORE

1:04 PM

TCS Q3 preview: Cloud adoption, large deal wins may lift profit by 8% YoY

Information technology (IT) major Tata Consultancy Services (TCS) will kick off the December quarter earnings season for large-cap firms on Friday, January 8, when it will announce its quarterly numbers. The Tata Group company is likely to post a robust performance for the third quarter of the financial year 2021 (Q3FY21) on the back of strong demand in cloud adoption, tailwinds of large digital deals, project ramp-up and lower furloughs, believe analysts. READ MORE

12:47 PM

BUZZING STOCK :: Airtel rises 5% amid jump in volumes, top gainer on Sensex

12:38 PM

TCS buyback offer: Tata Sons tenders shares worth Rs 10,000 crore

Tata Sons tendered shares worth Rs 9,997 crore of Tata Consultancy Services (TCS) during the IT major’s Rs 16,000 crore-buyback offer that concluded recently.

 

The single largest shareholder of TCS, Tata Sons tendered more than 33.3 million shares during the offer, according to a regulatory filing. READ MORE

12:24 PM

DLF, Oberoi Realty: Strategy for realty stks as Maharashtra halves premiums

Shares of real estate companies were in focus at the bourses on Thursday, surging up to 7 per cent on the BSE after the Maharashtra government slashed premiums and levies charged on construction by 50 per cent till December 31 2021. The cut, under the Development Control and Promotion Regulation 2034, will apply to both ongoing and new projects. Municipalities charge this premium on floor space index (FSI). The move is expected to give a boost to the real estate sector in the state. READ MORE

12:13 PM

IDFC First Bank rallies 11% in two days on strong retail loan growth in Q3

While overall funded assets of the bank increased 0.7 per cent year on year (YoY) to Rs 1.10 trillion in Q3FY21, retail assets grew 24 per cent YoY (11 per cent quarter on quarter(QoQ)) to Rs 66,635 crore. Retail Funded Assets, including the PSL Buyouts, thus constitute 64 per cent of overall Funded Assets, IDFC First Bank said in Q3 update. READ MORE

12:03 PM

Dec Quarter Result :: GM Breweries post PAT of Rs 21.1 cr, up 51% YoY

>> Revenue slips to Rs 112.1 crore, down from Rs 119.7 cr YoY

>> EBITDA margin at 24.7%, up from 16.6% YoY

>> EBITDA rises to Rs 27.7 crore from Rs 19.9 cr YoY

11:59 AM

L&T nears 52-week high; stock surges 51% in 3 months on strong order flow

The stock of construction & engineering major was trading close to its 52-week high of Rs 1,384, touched on February 1, 2020. In the past three months, L&T has outperformed the market by surging 51 per cent, as against a 21-per cent rise in the S&P BSE Sensex. READ MORE

11:49 AM

Different chart types used in technical analysis and how to read them

Traders use various kinds of charts for technical analysis. In this, however, we will cover the most significant ones that give deeper insights. These are basic charts, but without the in-depth knowledge of the basic techniques and structures, further expertise in chart-reading is unlikely. READ MORE

11:37 AM

Foreign portfolio investors accounted for 55% of IPO mop-up in 2020

Foreign portfolio investors (FPIs) contributed more than domestic institutional investors (DIIs) as anchor investors in initial public offerings of 2020. FPIs’ share of investments for the year stood at Rs 4,206 crore, 55 per cent of total Rs 7,720 crore mopped up last year, the data from PRIME Database showed. READ MORE

11:27 AM

Info Edge stock flies on hopes of economic revival, Zomato's upcoming IPO

A recovery in Info Edge’s core business and potential value unlocking for shareholders with the upcoming IPO of online food delivery startup Zomato have triggered a sharp rally in the company's shares. Info Edge is one of the key players in India’s online classifieds industry due ton its well-established classifieds and related services offerings in recruitment, real estate and matrimonial segments. It also has investments in at least 23 startups including a 22 per cent stake in India’s largest online food delivery platform Zomato. READ MORE

11:17 AM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
I D F C	42.70	11.63
INDBULL.REALEST.	84.40	7.58
BHARAT FORGE	587.15	7.11
SKF INDIA	1884.00	6.99
RAIN INDUSTRIES	151.55	6.88

11:00 AM

Stock Idea by Geojit Financial: HDFC Bank

HDFC Bank is temporarily restricted from undertaking digital business generation activities and securing new credit card customers, until it addresses IT infrastructure issues that have resulted in outages. However impact should be minimal on its current ongoing operations. On 4th December, RBI kept the rates unchanged for the coming quarter. It also announced strengthening of internal redressal framework for banks for a more efficient complaint resolution of customer complaints. Bank’s fundamentals and asset quality remains strong. We change rating to Hold from BUY with a revised TP of Rs. 1,529 based on 3.8x FY22E BVPS.

10:57 AM

Cement shares extend gain on strong outlook; JK Cement surges 9%

Shares of cement manufacturer were trading higher for the second straight day, rallying up to 9 per cent on the BSE on Thursday amid expectation of strong earnings during the October-December quarter (Q3FY21). Among individual stocks, JK Cement rallied 9 per cent to Rs 2,382, also its 52-week high on the BSE. UltraTech Cement hit a new high of Rs 5,512 after rising 1 per cent today. The stock has gained 3 per cent in the past two trading days. Birla Corporation, JK Lakshmi Cement, Ramco Cements, and India Cements were up between 4 per cent and 8 per cent on the BSE. READ MORE