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

9:06 AM

Credit Suisse bullish on IndiGo despite record loss in Q1FY22

Reco: OUTPERFORM | TP: Rs 2,100

>> IndiGo has taken large damage from Covid second wave, would take time to fill

>> We are focussed on long-term potential

>> Consolidation may play out given scale of damage to peers & ensuing lessors disputes

>> Revise EPS to -Rs 77/+Rs 63 for FY22/23

>> Co seems less confident of QIP 

9:05 AM

Sensex Heatmap | Top gainers & losers in pre-open trade

9:05 AM

Pre-open Session | Nifty tops 15,750

9:04 AM

Pre-open Session | Sensex jumps 250 points

9:02 AM

Morgan Stanley on DLF

Reco: Overweight | TP: Rs 399

>> Showing consistency in pre-sales and de-leveraging

>> Gross sales at Rs 1000 crore consistently for last three quarters

>> Should benefit from upcoming residential cycle with attractive pipeline

9:00 AM

UBS maintains 'Neutral' call on IndusInd Bank

Reco: NEUTRAL | TP: Rs 1,100

>> Management expects accelerated loan growth in H2FY22

>> Mgt expects cost of deposits to go down as it has cut deposit rate by 50bps

>> Brokerage raises loan growth target to 13%

8:58 AM

CLSA on IndusInd Bank

Reco: BUY | TP: Rs 1,350 from Rs 1,325

>> Delivering on granularity and stability

>> Slippages at Rs 2,700 cr were above estimates

>> Asset quality seems manageable

8:53 AM

CLSA cuts target price on Dr Reddy's Labs

Reco: BUY | Revised TP: Rs 5,930 from Rs 6,210

>> Q1 results missed estimates due to higher return of costs

>> Strong sales in India and EMs offset by weak APIs

>> Cut FY22-24 EPS target by 3-10% on higher SG&A costs

8:50 AM

June Quarter Results :: Coforge increases FY22 organic growth guidance in constant currency terms

>> Co raises guidance to 19% from 17% for FY22 in CC terms

>> Declares interim dividend of Rs 13/share

>> PAT: Rs 123.6 crore

>> Revenue: Rs 1,461.6 crore

>> Revenu: $ 199.7 million

>> Ebit: Rs 159 crore

>> Ebit margin: 10.9% 

8:44 AM

Nifty outlook & weekly stock picks by Vinay Rajani

Buy Fortis Healthcare (Rs 256.5) | Target: Rs 273 | Stop-loss: Rs 246

 

The stock has taken out the crucial resistance of the previous swing top placed at Rs 254. It has been in on a primary uptrend as it is trading above all important moving averages with higher tops and higher bottom formation. The hospital, healthcare and diagnostic sectors have been outperforming the overall market for the last couple of months. READ MORE

8:42 AM

Bulk deals on the BSE as on Tuesday

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8:39 AM

Bulk deals on the NSE as on Tuesday

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8:36 AM

FII/FPI & DII trading activity on NSE, BSE and MSEI

8:34 AM

Rupee check

Source: Bloomberg

8:31 AM

Oil check