Sensex up 873 pts at 53,823; Nifty near 16,150; BSE m-cap tops Rs 240 trn

Amid a steep rally, investors got richer by Rs 2.4 trillion, BSE data showed

1:09 PM

'Hard to say that markets have factored in the impact of the third wave'

Hard to say that markets have factored in the impact of the third wave. But going by the experience of the second wave, markets have been resilient, and all along, investor focus has been on earnings growth potential. Yes, the third wave as large as the second wave will bring near-term challenges, but companies with a strong business case and healthy balance-sheet should sail through and emerge more robust in the future. READ FULL INTERVIEW HERE

12:53 PM

Be careful! These 5 stocks can dip up to 15% from here

The domestic benchmark indices are trading at all-time high levels, with Nifty50 surging past the 16,000-mark for the first time ever. Analysts expect the market to gain momentum going ahead provided global and domestic cues remain supportive. That said, there are select stocks that are flashing bearish signals on the tech charts, contrary to the overall market setup. These five stocks from the BSE 500 pack can slip up to 15 per cent from here on. READ MORE

12:40 PM

June Quarter Results :: Inox Leisure's loss widens to Rs 120 crore vs Rs 73 crore YoY

>> Revenue: Rs 22 crore vs Rs 25 lakh YoY

12:34 PM

ALERT :: Sensex hits new record high of 53,478.5

12:21 PM

June Quarter Results :: Bank of India's PAT falls to Rs 720 cr vs Rs 844 cr YoY

>> GNPA at 13.51% vs 13.77% QoQ

>> NNPA flat at 3.35%

12:08 PM

Consumer Durable index advances over 1% led by Titan Company

11:51 AM

ALERT :: Nifty hits new peak of 16,000.65

11:40 AM

Infosys m-cap surpasses Rs 7 trillion-mark as stock hits new high

Infosys on Tuesday joined the elite club of companies with Rs 7-trillion market capitalization (m-cap) on the BSE after its share price hit a new high of Rs 1,646.40 in the intra-day deals. The stock of the information technology (IT) consulting & services company has outperformed the market in the past two weeks, by gaining 7 per cent, after Infosys raised its revenue growth guidance for financial year 2021-22 (FY22) buoyed by a robust deal pipeline. READ MORE

11:24 AM

Vodafone Idea tanks 12%, hits 52-week low

The stock of the telecom services company fell below its previous low of Rs 7.60 touched on October 19, 2020. It was trading at the lowest level since July 2020. The stock had hit a record low of Rs 2.61 in November 2019.

 

Birla has expressed willingness to offer his group’s 27 per cent stake in VIL to any government or domestic financial entity in order to keep the stressed telecom company alive. READ MORE

11:03 AM

HDFC's bad loans increase in June quarter, but there's a silver lining

Mortgage major HDFC’s results for the June quarter (Q1FY22) were a mixed bag. Consolidated income from operations was Rs 30,990 crore, less than Rs 35,738 crore in Q4FY21 and slightly more than Rs 29,953 crore in Q1FY21.

 

Interest income from mortgages was Rs 10,957 crore, which was more than Rs 10,879 crore in Q4, but lower than Rs 11,168 crore a year ago. There were gains in the insurance business with income of Rs 10,057 crore, versus Rs 14,634 crore previous quarter and Rs 7,291 crore last year.  READ MORE

10:41 AM

Orient Cement hits over 3-year high on strong operational performance in Q1

Orient Cements’ operating revenue declined 17 per cent quarter-on-quarter (QoQ) to Rs 690 crore from Rs 832 crore in the previous quarter. However, Ebitda declined only 8.5 per cent QoQ to Rs 185 crore. The company reported a profit after tax (PAT) at Rs 88.6 crore, down 10 per cent QoQ. On year on year (YoY) basis, the company’s PAT more-than-doubled from Rs 25.61 crore in Q1FY21. READ MORE

10:29 AM

Analysts expect Bharti Airtel's Q1 profit to halve QoQ; stable ARPU likely

“The second wave led lockdown is likely to lower the subscriber addition momentum from 13-14 million quarterly run rate to around 2 million in Q1FY22. Furthermore, the quarter is also expected to witness the impact of extension of validity for bottom of the pyramid customers, restricting ARPU,” noted analysts at ICICI Securities in a pre-result report. READ MORE

10:11 AM

Sensex extends gains, nears all-time high level

10:10 AM

ALERT :: Nifty hits fresh record high of 15,965

>> The index surpasses its previous high of 15,962 level, touched on July 16

9:59 AM

Balaji Amines surges 9%, hits new high on robust June quarter results

The company’s consolidated total income during the quarter under review grew 102 per cent year-on-year (YoY) at Rs 451.94 crore against Rs 224.19 crore in the corresponding quarter of the previous fiscal. Ebitda (earnings before interest, taxes, depreciation, and amortization) margin improved to 31.93 per cent from 24.31 per cent in the year-ago quarter. The stock performance during the quarter was led by robust demand for the company’s products from end-user industries.READ MORE