Sensex falls 149 pts; SmallCap index sheds 2% amid tepid global cues

Closing Bell: Hindalco, UPL, Sun Pharma, Adani Ports, Divis Labs, and TCS were the top drags, down up to 3.45 per cent

11:58 AM

InterGlobe Aviation trades with a negative bias after promoter Rakesh Gangwal steps down

Shares of InterGlobe Aviation - parent company of the low-cost airline IndiGo - were down 4 per cent at Rs 2,025 on the BSE in Monday’s intra-day trade after one of its promoter and co-founder Rakesh Gangwal stepped down from the airline’s board. READ MORE

11:43 AM

Sensex erases almost all its losses

The BSE Sensex recovered more than 650 points from the lows of the day, on hopes of peace talks between Russia and US.

11:30 AM

NEWS ALERT: Reliance Jio to land new India-Asia-Xpress undersea cable system in Maldives

Reliance Jio Infocomm, subsidiary of Reliance Industries will land the next generation multi-terabit India-Asia-Xpress (IAX) undersea cable system in Hulhumale, Maldives.This high capacity cabe system will connect Maldives directly with major internet hubs in India and Singapore.

 

11:22 AM

Nifty above 17,200 led by gains in Shree Cement, Maruti & ICICI Bank

11:16 AM

Lab stocks scramble for new growth in India as Covid gains halve

India’s listed clinical laboratories are looking for new sources of growth to fuel investor interest after seeing their massive coronavirus-fueled stock rallies more than halved in recent months. READ MORE

Photo: Unsplash/Mufid Majnun

11:06 AM

Ujjivan Financial, Small Finance Bank hit 52-week lows; tank up to 7%

Shares of Ujjivan Financial Services (down 7 per cent at Rs 105) and Ujjivan Small Finance Bank (down 3 per cent at Rs 17.40) hit their respective 52-week lows on the BSE in Monday's intra-day trade. These stocks have corrected 60 per cent and 55 per cent, respectively from their 52-week high levels. READ MORE

10:48 AM

MARKET CHECK :: Sensex recovers sharply in trade

>> 30-pack index rises nearly 400 pts off lows, now down just 200 pts

10:37 AM

NEWS ALERT: Bharti Airtel joins global undersea cable consortium to scale up its global network capacity

>> Bharti Airtel today said that it has joined the SEA-ME-WE-6 undersea cable consortium to scale up its high speed global network capacity to serve India’s fast growing digital economy.

 

>> The 19,200 Rkm SEA-ME-WE-6 will connect Singapore and France, and will be amongst the largest undersea cable systems globally. 

 

>> Airtel is participating as a major investor in the SEA-ME-WE-6 and is anchoring 20% of the overall investment in the cable system, which will go LIVE in 2025

10:19 AM

Restaurant Brands hits new low post listing of shares issued to QIBs

The stock of the quick service restaurant chain company has fallen below its qualified institutional placement (QIP) issue price of Rs 129.25 per share. The stock now trades at its lowest level post its market debut on December 14, 2020. However, the stock is still trading above its initial public offer (IPO) price of Rs 60 per share. READ MORE

10:08 AM

IPO-bound LIC's FY21 profit picture not so pretty compared to size

The insurance behemoth reported revenues of around Rs 7.04 trillion in FY21, nearly 40 per cent more than those of Reliance Industries Ltd (RIL), which topped the charts in the listed space with Rs 5.05 trillion last financial year, while LIC’s assets, at Rs 37.46 trillion, were nearly three times those of RIL. READ MORE

9:47 AM

Market Commentary :: What are the positives in this market with global headwinds?

There are strong headwinds for the market arising from Ukraine tensions and monetary tightening by the Fed expected from March onwards. Adding to these headwinds there are concerns specific to India like sustained FII selling and rising crude.

Brent crude at around $ 94 a barrel can aggravate inflation in India and depreciating rupee may further prompt FIIs to sell. Retail investor optimism and cash rich DIIs are positives.

 

Trends of improving earnings growth and fair valuations in segments like financials are supporting the market. Investors may wait till clarity emerges on the Ukraine front. March is likely to be an event filled month with state election results, Fed meet and LIC IPO.

Views by: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:43 AM

Equitas Small Finance Bank soars nearly 8%

>> The SFB has approved the allotment of 10,26,31,087 equity shares to eligible Qualified Institutional Buyers at the issue price of Rs 53.59 per equity share.

9:40 AM

MARKET CHECK :: Nifty tests 17,000, tanks to day's low

9:38 AM

MARKET CHECK :: Sensex slumps to day's low

9:36 AM

Brightcom Group slips 1.5% on fixing record date

>> The company informed BSE that it set March 16, 2022 as the record date for the proposed 2:3 bonus share issue