BSE clarifies on Price Band rule; Sensex ends flat, SmallCap index down 1%

The BSE SmallCap index, which was down over 3 per cent at one point during the day, ended just 0.83 per cent lower.

12:01 PM

Here's why BSE's Add-on Price Band Framework hit mid-, small-cap stocks

These add-on price bands shall be in addition to the applicable daily price bands of such securities, it said.
 

Further, the Add-on price band shall be expressed in terms of a ratio of close price of the security and depending upon the daily price band slab applicable for the security, there will be different ratios of add-on price bands. READ MORE

11:46 AM

Zomato's Q1 show drives stock 5% higher but Street remains mixed on outlook

In its first-ever quarterly results as a listed entity, food service provider Zomato put up a mixed show. While the company's loss swelled by over three times to Rs 356 crore in the June quarter (Q1), investors focussed on the better-than-expected revenue performance, driving the stock over 5 per cent higher to Rs 131.75 per share on BSE on Wednesday. However, the stock was still trading below the listing day's high of Rs 147.80 touched on July 27, 2021, but was up 46 per cent over the issue price of Rs 90 per share. READ MORE

 

11:34 AM

DIPAM SECRETARY

>> Have stopped state run companies' shares ETF, will no longer use it

11:05 AM

Hinduja Global hits record high on divestment of healthcare services biz

The Hinduja Group’s business process management entity, Hinduja Global Solutions (HGS), announced on Monday, August 9, that it has entered into definitive agreements to divest its Healthcare Services business to funds affiliated with Baring Private Equity Asia (BPEA), one of the largest private alternative investment firms in Asia. READ MORE

10:45 AM

MARKET VIEW :: Underperformance of the broader market may continue

The outperformance of large-caps, which started a few days back, gathered momentum yesterday with Nifty Mid-cap & Small-cap indices declining by 1.09 % and 2.05% respectively while  Nifty moved up. Nifty's strength is largely due to the resilience of high quality financials, particularly the HDFC twins, ICICI Bank and Kotak Bank. This divergent performance is desirable and healthy since it is removing the froth in the broader market and rewarding quality. The underperformance of the broader market may continue. 

 

With Dow Jones hitting another record high, there is global support to the rally. However, the good news from the US economy, particularly the excellent jobs data, may nudge the Fed to hint tapering earlier than expected. Tapering hints have the potential for capital outflows from EMs and a sharp correction in the market. So watch out for the inflation data from the US expected shortly.

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

 

10:36 AM

Manappuram Finance extends decline, dips 11% post June quarter earnings

The gold loan book declined 13 per cent QoQ to Rs 16,500 crore and gold holdings slipped 11 per cent QoQ to 58.1 tonnage. Over the last two quarters, gold holdings have cumulatively declined 15 per cent and gold AUM 18 per cent over this period. In all non-gold segments, the respective loan books were flat sequentially. READ MORE

10:20 AM

MARKET CHECK :: SmallCap stocks bleed

10:10 AM

Sequent Scientific slips 16% on disappointing June quarter results

Shares of Sequent Scientific dipped 16 per cent to Rs 236 on the BSE in intra-day trade on Wednesday after the company reported a sharp 86 per cent year-on-year (YoY) decline in its consolidated profit after tax (PAT) at Rs 2.65 crore for the quarter ended June 2021 (Q1FY22). The pharmaceutical company had posted a PAT of Rs 19.35 crore in the year-ago quarter.

 

In Q1FY22, its revenues grew 8.6 per cent YoY to Rs 320.5 crore from Rs 295.3 crore in Q1FY21. The formulation business reported an over 15 per cent growth, while API business reported de-growth after many quarters of consistent growth. READ MORE

9:54 AM

ALERT :: Sensex gives up gains, trades in the red

9:52 AM

MARKET CHECK :: Sensex reverses gains, declines 100 points

9:37 AM

GMR Infra rises as the board to consider fund raising

>> GMR Infrastructure board will consider a proposal for raising up to Rs 6,000 crore through various routes at its meeting on August 13, 2021.

 

9:35 AM

RattanIndia Enterprises hits 5% upper circuit on foraying into drone industry

>> The company has ventured into the fast-growing drone industry, and will make a strategic investment in the US-based urban drone logistics platform Matternet.

9:32 AM

Result Reaction :: Trent tanks 6%

>> The Tata Group company reported narrowing of consolidated net loss at Rs 138.3 crore in the first quarter ended June 30 despite disruptions by the second wave of COVID-19 pandemic. The company had posted a consolidated net loss of Rs 184.04 crore in the same period last fiscal.

9:31 AM

Earnings Impact :: Power Grid in the green on 3x jump in Q1 profit

>> The company posted a nearly three-fold jump in consolidated net profit at Rs 5,998.28 crore in the June quarter, mainly on the back of higher revenues.

9:30 AM

Result Reaction :: Zomato jumps nearly 4% as Q1 revenue rises

>>Zomato said its net loss widened to Rs 356 crore in the first quarter ended June 30 due to increased expenses and a hit on dining out as the second wave of the Covid-19 pandemic upended lives and livelihoods. It had reported a loss of Rs 99.8 crore in the year ago quarter.

>> Revenue from operations in Q1 rose to Rs 844.40 crore, from Rs 266 crore a year ago.