Sensex ends 446 pts higher, Nifty tops 17,800; RIL hits record high, up 2%

Stock market LIVE: On the sectoral front, barring Nifty Realty, Pharma, PSU Bank, all indices trade in the green

11:27 AM

ONE TIME SPECTRUM CASE

>> Centre indicates dropping recovery of spectrum usage charges from telcos

>> Telcos owe Rs 40K crore to Centre for spectrum usage charges, including OTSC

>> Telecom sector passing through financial stress, don't want monopoly in market

(Centre affidavit in SC)

11:23 AM

'We expect strong momentum in manufacturing & services sector led by inventory buildup'

The seasonally adjusted India Services Business Activity Index posted 55.2 in Sep 2021. While the reading has come down from 56.7 in Aug 2021, it still points to a solid pace of expansion in the services sector. Rollback of Covid related restrictions have led to an increase in movement of people thus leading to continued increase in new business inflows. Despite easing from August, the rate of expansion was marked and the second-fastest since February 2020. Moreover this was the first time that Indian service providers have hired people after shedding jobs for nine consecutive months till August. Despite the strong rebound in services growth there were concerns over inflationary pressures. We expect continued strong momentum in both the manufacturing & services sector led by inventory buildup leading to the festive season. Key risk to growth is the possibility of a third Covid wave due to increased mobility on account of the festive season. 

-- Jyoti Roy - DVP- Equity Strategist, Angel One

11:12 AM

ALERT :: Urged Voda Idea founders to inject about Rs 40,000 cr in fresh capital: Govt official

Source: Agencies

11:06 AM

Srei Infra Fin hits 5% lower circuit as RBI supersedes company board

Shares of Srei Infrastructure Finance were locked in the lower circuit filter of 5 per cent at Rs 8.17 on the BSE in Tuesday's session after the Reserve Bank of India (RBI) on Monday superseded the board of the company, which will be taken for insolvency proceedings owing to governance concern and payment defaults by them. READ MORE

10:59 AM

ALERT :: Govt keeps general provident fund interest rate at 7.1% for Q3

 

10:53 AM

Q2 earnings: What to expect from India Inc in Sep quarter of FY22?

The domestic markets are riding on the hope that Indian companies’ earnings momentum would have continued in the September quarter of FY22.

 

With the Q2 earnings season for the 2021-22 financial year set to kick off this week, there are expectations that earnings momentum of the past few quarters will run well into the September quarter as well. But, given the Street's general emphasis on the forward-looking more than the actual numbers, the future outlook of the earnings trajectory remains more critical. Listen to the podcast

10:46 AM

Power stocks extend gain as demand seen rising; Tata Power up 26% in a week

Shares of power companies continued to march higher with the S&P BSE Power index hitting a fresh 10-year high on Tuesday on strong demand outlook. At 10:00 am; the S&P BSE Power index was up 1.5 per cent, when compared to 0.21 per cent decline in the S&P BSE Sensex. READ MORE

10:33 AM

ALERT

India Sept Services PMI at 55.2 vs 56.7 in August

10:28 AM

ALERT :: 10-year bond yield rises to highest level since July 12

>> The benchmark bond yield opened at 6.26% vs 6.25% previous close

 

10:15 AM

ALERT :: Gujarat gas hikes CNG price by Rs 2.50/kg & PNG by Rs 9.50/scm

Source: TV reports

10:10 AM

Rupee falls to lowest level against dollar since July 20

>> Rupee weakens versus dollar to 74.56

>> The domestic currency closed at 74.31 on Monday

10:01 AM

Gokaldas Exports hits 2nd straight 5% upper circuit on nod for QIP issue

Shares of Gokaldas Exports were locked at the 5 upper circuit for the second straight day, at Rs 224.40 on Tuesday on the BSE after the company announced that it has approved fund raising to the tune of Rs 300 crore via qualified institutional placement (QIP).

 

The stock of textiles company had hit a 52-week high of Rs 236 on August 9, 2021. Till 09:29 am; a combined around 190,000 equity shares changed hands, and there were pending buy orders for 79,000 shares on the NSE and BSE. READ MORE

 

9:46 AM

Adani Green up over 3% as firm looks to invest $20 bn in its green value chain

>> Founder Gautam Adani said that the conglomerate would invest a fresh $20 billion in its green value chain over the next decade. This would include funds for areas such as electrolyzer manufacturing, backward integration plans to secure the supply chain for solar and wind generation businesses, and AI-based industrial cloud platforms.

9:43 AM

Patel Engineering rallies further, hits fresh 52-week high

Patel Engineering had bagged order of Rs. 1,251 crore - TEESTA-VI HE PROJECT - on Sept 27. Since then the stock has gained in 6 out of 7 sessions

9:38 AM

GHCL rises 1% on AA- rating from CRISIL

>> CRISIL Ratings has assigned AA- rating with stable outlook to GHCL for issuance of non-convertible debentures (NCD) of Rs 150 crore, which may be issued within a period of 180 days.