Business Standard

Tuesday, December 24, 2024 | 07:25 AM ISTEN Hindi

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Sensex rebounds 640 pts from day's low to end 135 pts down; Airtel jumps 5%

Bargain hunting in domestic equities helped the markets rebound swiftly from intra-day lows on Wednesday

Image SI Reporter New Delhi
MARKET LIVE: Sensex falls 450 pts, Nifty holds 15,600; India VIX jumps 11%

12:22 PM

US Fed meet, F&O expiry, RBI policy: Your trading guide ahead of key events

S&P BSE SENSEX
Outlook: A range trade breakout may see 2000 points run.
 
The index is volatile and is moving in the a range of 53,500 to 51,500 levels since the past few sessions. Such consolidation usually triggers a breakout towards a decisive trend either way. One way to gauge the strength is to identify a gap-up or gap down close on the breakout mark. On the higher side upon breakout, the Sensex may see 55,500 and on the downside, it may fall towards 49,500 levels. For now, the overall trend remains bullish. READ MORE

12:13 PM

NEWS ALERT :: Bharti Airtel likely revises its prepaid plans

>> Bharti Airtel revises its prepaid plans, discontinues Rs 49 entry level prepaid recharge.

>> Prepaid packs will now start from Rs 79

Source: TV reports

12:01 PM

Sensex slides for third day; what's spooking investors on D-Street?

The benchmark indices came falling like a deck of cards in Wednesday's session, as the ripples of a regulatory crackdown by the Chinese government was felt by markets across the globe. Investors worried whether the selloff in Chinese tech stocks would spread to other segments. "China is too big now. It can cause flutters in global markets. This space needs to be watched cautiously," warned Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. READ MORE

bear market, stocks, sensex, nifty, loss, growth, crash, index




 

11:44 AM

Torrent Pharma gains 3% in a weak market on healthy margins in June quarter

The stock of the drug maker rebound 7.5 per cent from its intra-low of Rs 2,890. It had hit a 52-week high of Rs 3,121.45 on Tuesday, July 26. In comparison, the S&P BSE Sensex was down 0.87 per cent or 456 points at 52,123 at 11:28 am.
 
Torrent Pharma’s Q1FY22 revenues grew 3.8 per cent year-on-year (YoY) to Rs 2,134 crore on the back of 18 per cent YoY growth in domestic formulations to Rs 1,093 crore. However, US revenues declined 29 per cent YoY at Rs 266 crore amid continuous price erosion in base business and lack of new approvals pending re-inspection of facilities. READ MORE
11:24 AM

Analysts see up to 34% upside in IndiGo stock despite Covid-19 headwind

"A combination of volatile demand trends over February to May and a sustained demand-supply mismatch at an industry level took out most part of the contribution margin that IndiGo and its peers were earning. This is potentially a transient phase that may continue into Q2FY22," notes Aditya Mongia and Teena Virmani, research analysts at Kotak Institutional Equities.
 
They, however, believe IndiGo is well-placed to survive this tough phase with Rs 5,500 crore of free cash, potential QIP or Rs 3,000 crore and other liquidity-boosting measures. READ MORE

11:10 AM

Dr Reddy's extends fall on disappointing Q1; stock down 14% in 2 days

Shares of Dr Reddy's Laboratories extended their decline into second straight day, falling 14 per cent in two days, after the company reported the disappointing results for the quarter ended June 2021 (Q1FY22). The stock hit a three-month low of Rs 4,667, down 4 per cent on the BSE in the intra-day trade on Wednesday, and was trading at its lowest level since April 9, 2021. READ MORE

10:49 AM

WATCH :: Are markets staring at a deeper correction?

10:38 AM

ALERT :: Nifty hits 5-week low

10:26 AM

Selloff gathers steam! Sensex tanks 450 points

10:20 AM

UTI AMC hits new high ahead of results, rallies 111% from October lows

Shares of UTI Asset Management Company (AMC) hit a new high of Rs 994 as they rallied 8 per cent on the BSE in intra-day trade on Wednesday, in an otherwise weak market, on expectations of good earnings. The stock of the AMC surpassed its previous high of Rs 947.20 touched on July 23, 2021. It traded at its highest level since its stock market debut on October 12, 2020. READ MORE

UTI MF

10:06 AM

Rolex Rings IPO kicks off. Should you subscribe?

Subscribe for listing gains: KR Choksey

Company has a diverse product portfolio with a wide user base. It has long standing relationships with leading clients both in India and in exports markets which can be leveraged for increased market share and improved product mix with high-margin value added products. It also has unutilised capacity including large tracts of land which can be used to service higher customer volumes using existing infrastructure. At the same time, RR is also dependent on top 10 clients besides being open to the risk of business loss due to Covid-19. It has high proportion of unutilised capacity, besides the high degree of power and fuel costs. 
 
At the upper band of IPO price of Rs 900, it is valued at a P/E multiple of 35 (on recalculated EPS excluding the INR 25 Cr deferred tax credit) which is lower than the industry average of 83. Considering company’s long standing relationships and diverse product portfolio in the wake of not so robust financials, concentrated client base and sub optimal capacity utilisation, we recommend a ‘Subscribe’ for  listing gains.
10:03 AM

Rupee Opening

Rupee opens at 74.43 per US dollar vs Tuesday's close of 74.46$
10:02 AM

APL Apollo, Apollo Tricoat Tubes hit new highs on bonus issue plan

“The board of directors of the company is scheduled to meet on August 6, 2021, to consider and approve the proposal for issue of bonus shares on the equity shares of the company,” the firms announced in separate regulatory filings on Tuesday. Their boards will also consider un-audited financial results for the first quarter ended June 30, 2021 (Q1FY22). READ MORE

9:52 AM

Bears tighten grip! Sensex slumps over 350 pts

9:45 AM

NEWS ALERT :: Sanofi India to sell nutraceuticals biz

>> Co to sell Universal Nutriscience for Rs 587 cr including debt-like obligations

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First Published: Jul 28 2021 | 8:18 AM IST