Sensex rises 514 pts, Nifty ends above 17,200; RIL, TCS top contributors

TCS, HUL, Titan Company, UltraTech Cement, and Bharti Airtel hit their respective record highs on the BSE today

12:02 PM

The stock of this defence company has zoomed 76% in 9 days

"Order book as on September 01, 2021, stands at Rs 402.6 crore as against an order book of Rs 191.6 crore on 30th June 2021," Zen Technologies said in exchange filing on Wednesday.

 

In the past three weeks, the stock has zoomed 76 per cent from a level of Rs 79.40 seen on August 20, 2021. It is trading close to its all-time high level of Rs 158, touched on January 1, 2018. READ MORE

11:49 AM

NIFTY AUTO index only sectoral loser on NSE

11:41 AM

Grey Market Trends :: Ami Organics' GMP sees sudden spurt

We have seen a sudden spike in the Grey Market Premium of Ami organics limited in last 2 days, IPO opens on 1st of September 2021 and on the first day IPO received a good response from Retail investors as well as from Qualified investors. On the first day itself, IPO got fully subscribed, by the end of the first day IPO oversubscribed by 190%. As per the different market news currently, the grey market premium of Ami organics is at ₹120-₹150, which has increased from ₹45 before the IPO opens.

 

Based on FY2021 numbers, the IPO is priced at a Price to Earnings of 35.6 times and EV/EBITDA of 25.7 times at the upper price band of the IPO, which is on the higher side, compared to the listed peer group. The company already has a higher market share of 70%-90% in Key API’s which will limit growth in the near future. Given the expensive valuation, we assigned a NEUTRAL recommendation to the Ami Organics Limited IPO

Views by: Yash Gupta, Equity Research Analyst, Angel Broking

11:29 AM

IPO ALERT :: Ami Organics subscribed over 2 times

11:12 AM

TD Power Systems zooms 87% in 3 weeks on strong outlook, hits 3-year high

The company had a strong order book position of Rs 1,078 crore as on June 30, 2021. It has supplied 4,911 generators as of Q1FY22 with an aggregate output capacity of over 35,536 MW in 80 countries. READ MORE

10:57 AM

MARKET INSIGHTS: Has the IPO dream run peaked?

Out of the eight companies that debuted on bourses in August, five listed at a discount. Aptus Value Housing Finance, Chemplast Sanmar, Nuvoco Vistas, Windlas Biotech and CarTrade Tech made tepid debuts, disappointing investors who often lap up IPOs for a listing pop.

 

According to some analysts, the listing "honeymoon" might just be over. So, what's behind the underperformance? Experts explain WATCH VIDEO

10:47 AM

COMMODITY VIEW :: GOLD

MCX gold October future may stay in a tight range as traders are keenly focusing on Friday's U.S. nonfarm payrolls data as it is expected to help shape the Fed's stance on monetary policy particularly after private forecaster ADP has disappointed the street. Meanwhile, the investment demand has fallen continuously in the last month. Today MCX Gold October futures may stay in a range from Rs. 46,900 to 47,200 amid release of economic data from the US like factory orders for July and weekly jobless claims.

-- Jigar Trivedi, Research Analyst- Commodities Fundamental, Anand Rathi Shares & Stock Brokers

10:35 AM

Cement shares in demand; UltraTech, ACC, Ambuja hit record highs

Among individual stocks, UltraTech Cement hit a record high of Rs 7,931, up 2 per cent in intra-day trade. Ambuja Cements ( up 2 per cent at Rs 430.35) and ACC (up 2 per cent at Rs 2,469) too hit new highs, surpassing their previous highs recorded on August 4, 2021. READ MORE

10:20 AM

ALERT :: M&M to observe around 7 days of 'no production days' in Sept

>> The Company’s Automotive Division continues to face supply shortages of semiconductors, which has got further accentuated due to Covid lockdowns in some parts of the World. 

>> The Company will be observing ‘No Production Days’ of around 7 days in its Automotive Division plants in the month of September, 2021, which is estimated to result in reduction in Production Volumes of the Automotive Division in September, 2021 by 20-25%.

>> The Revenue and Profitability will be impacted in line with the fall in Production Volumes. The Company is taking various cost optimisation measures to limit the impact

(Source: BSE filing)

10:16 AM

BUZZING :: HUL hits 52-week high

10:09 AM

Kitex Garments surges 10% as Telegana government approves expansion plan

Shares of Kitex Garments hit the 10% upper circuit at Rs 164.10 on the BSE this morning after the company announced that Telegana government has approved its expansion plan. “The proposal submitted by Kitex Garments before Government of Telegana towards expansion plan has been approved,” the company said in exchange filing. The Government order will be issued within a few days, it added. READ MORE

9:53 AM

MARKET VIEW :: For FIIs risk-reward in favour of debt at this stage

Both Wall Street and Dalal Street have been one-way streets for quite long now, with only minor dips. And, the exuberant retail investors have been buying on every dips. This ' buy on dips' strategy has been rewarding retail investors and, therefore, they can be expected to continue with that strategy until there is a sharp correction and negative signals in the market. The scepticism of 'smart money is evident in the 'off and on' response of FIIs who have again turned buyers for three days in a row after turning sellers on a sustained basis for many days. FIIs are just chasing momentum now and therefore no serious significance need to be given to their recent buys. But an important trend emerging in FPI inflows is their buying into debt: Rs 12144 cr in August. This is the first positive monthly figure in 2021 and is likely to continue. For FIIs risk-reward is in favour of debt at this stage of the market.

-- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:45 AM

Natco Pharma gains 3% on launching first generic alternative to Revlimid

>> Natco Pharma (Canada) Inc. announces the launch of PrNAT-LENALIDOMIDE Capsules, the first generic alternative to Revlimid

9:43 AM

Morepen Laboratories surges 8% on business division rejig

>> The company board approved the transfer of the Medical Devices Business of the company on a slump sale basis for a lumpsum consideration by way of allotment of Equity Shares of Rs. 10/- each, to a wholly owned subsidiary of the company, which is under process of incorporation. The revenues and profits derived from the new subsidiary will be consolidated in the parent company, Morepen Laboratories.

9:39 AM

Hero MotoCorp declines 1% as sales in August fall

>> The country's largest two-wheeler maker Hero MotoCorp on Wednesday reported 22 per cent dip in total sales at 4,53,879 units in August as compared with same month last year. The company had dispatched 5,84,456 units to its dealerships in August 2020.