Sensex jumps 514 pts, ends above 59k; Nifty Realty up 4%, auto worst loser

Only 10 stocks from the Nifty basket closed in the red

11:42 AM

BUZZING :: HUL hit a new 52-week high; now up 1.3%

11:30 AM

World's richest 500 lose $135 bn as Evergrande concerns spark market rout

A global rout in stock markets sparked by concerns over China Evergrande Group hit the world’s biggest fortunes Monday, with the richest 500 people losing a combined $135 billion. Tesla Inc.’s Elon Musk led the declines as his world-leading net worth fell $7.2 billion to $198 billion, according to the Bloomberg Billionaires Index. No. 2 Jeff Bezos, the founder of Seattle-based Amazon.com Inc., lost $5.6 billion, paring his fortune to $194.2 billion. READ MORE

 

11:11 AM

HCL Tech hits new high on 5-year deal with US-based MKS Instruments

“HCL will drive digital and cloud-enabled transformation for MKS Instruments through AI/ML-led automation, enhanced user experience with end-to-end Infrastructure services, digital workplace services and IT transformation,” the company said in a statement on Monday after market hours. READ MORE

11:02 AM

Sterling and Wilson Solar commissions 66 MWp solar energy project in Jordan

>> The project is located on an area of 1.3 sq. kms in Ma’an Governorate, 200 km south of Amman
 

>> The Al Husainiyah project will save around 50,000 tonnes of carbon emissions annually
 

10:50 AM

BUZZING :: Bharti Airtel shares hit new high; up nearly 2% in morning trade

10:47 AM

KEC International rallies 12% in 2 days on acquisition of Spur Infra

Shares of KEC International were up 7 per cent to Rs 467.95 on the BSE in the intra-day trade on Tuesday, surging 12 per cent in past two trading days, after the company entered into a definitive agreement to acquire 100 per cent equity in Spur Infrastructure for an enterprise value of Rs 62 crore. The acquisition is expected to be completed within 60 days from the date of agreement. READ MORE

 

10:33 AM

NDTV freezes at 10% upper circuit for 2nd straight day; hits 52-week high

Shares of New Delhi Television Limited (NDTV) were locked in the 10 per cent upper circuit band for the second straight day, at Rs 87.60 on the BSE on Tuesday, amid rumours of buyout by Adani Group. The stock is trading at its 52-week high level, surpassing its previous high of Rs 85.85 touched on May 25, 2021. In the past two trading days, it has rallied 21 per cent, as compared to a 0.61 per cent decline in the S&P BSE Sensex. Till 10:02 am, around 444,000 equity shares had changed hands and there were pending buy orders for 210,000 shares on the NSE and BSE, data shows. READ MORE

 

10:25 AM

IPO Update :: Paras Defence IPO sails through on Day 1

>> Total shares on offer subscribed 1.62 times so far

10:17 AM

SBI Cards plunges 6% as 4% equity changes hands on Exchanges via block deal

Shares of SBI Cards and Payment Services (SBI Cards) plunged 6 per cent to Rs 1,012 on the National Stock Exchange (NSE) and BSE in intra-day trade on Tuesday as private equity (PE) firm Carlyle Group’s proposed to divest 3.4 per cent stake in the company through a block trade. As of 10:07 am; a combined 37.18 million equity shares representing 4 per cent equity of SBI Cards changed hands on the NSE (36.84 million shares) and BSE (1.31 million shares), the data shows. The names of the buyers were not ascertained immediately. READ MORE

 

10:08 AM

MARKET VIEW | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The Evergrande crisis has caused a minor sell-off in markets with the Dow and S&P falling by around 1.7 percent each and Nasdaq and Russel 2000 correcting by above 2 percent each. Concerns are being expressed whether this might turn out to be China's Lehman moment. This appears far-fetched now since Evergrande's debt is not widely held and, therefore, is unlikely to lead to a contagion with systemic  risks. The recovery in Dow which was down 972 points at the lows to close with a loss of 614 points  is an indication of market's confidence that a contagion is unlikely. However, investors have to be cautious since markets are richly valued and , therefore, vulnerable to corrections. The ultimate impact of the Evergrande crisis is yet to be seen and known.

 

There is another view that the Chinese crisis- the regulatory crackdown earlier and the Evergrande crisis now- bode well for India, facilitating increasing capital flows to India. This may play out in the medium to long-term. The FOMC meet starting today may give a timeline on tapering. This will be watched closely by markets, globally. This is likely to be a 'taper without tantrum'. 

10:00 AM

ALERT :: SpiceJet gets shareholders nod to raise Rs 2500 crore via QIP

Source: TV News, Agencies

9:56 AM

Nifty Realty top sectoral gainer in morning session; rises over 3%

9:50 AM

BUZZING :: The Mandhana Retail Ventures up over 6% in early trade

>> Rakesh Jhunjhunwala sold additional 98,094 equity shares in the company on September 17 and September 20, reducing shareholding to 10.32 percent from 10.77 percent earlier

9:46 AM

Action Construction Equipment down 8% after company launched its QIP on Monday

>> The floor price of Rs 254.55 per equity share is at a premium of 2.62 per cent to Monday closing price

>> The board will meet on September 23 to approve issue price
 

9:43 AM

HCL Tech rises after announcing a five-year, digital transformation deal with MKS Instruments Inc

>> The deal is for advanced manufacturing processes, to improve performance, productivity, and speed to market