Sensex falls 123 pts as investors book profit in RIL, banks, auto stocks

The broader markets, however, outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.06 per cent and 0.34 per cent, respectively.

3:08 PM

Result Reaction :: M&M Financial tanks over 5% on surprise one-time loss

>> Net loss: Rs 1,543 crore vs Rs 432-crore profit YoY

2:54 PM

Chemical stocks in focus; Alkyl Amines, Gujarat Fluorochem at new highs

Shares of chemicals companies were on a roll in Monday's intra-day trade. Shares of Alkyl Amines Chemicals, Gujarat Fluorochemicals, Balaji Amines and Navin Fluorine International hit their respective new highs on the BSE in an otherwise subdued market on expectations of strong earnings. These stocks rallied up to 11 per cent in intra-day trade today. In comparison, the S&P BSE Sensex was down 0.05 per cent at 52,948 points at 01:54 pm. READ MORE

2:35 PM

Q&A | Real money in market is made by remaining invested for long: Vikas Khemani

The markets are always vulnerable to corrections as they depend on a lot of unexpected factors — ranging from politics and geopolitics to inflation, monetary policy, etc. Many of these factors never happen and some happen unexpectedly. Investors always get hit when the markets are unprepared. That said, it is futile to manage these. Real money in the market is made by remaining invested for long. India is in one of its best super-cycle periods for the next five-seven years. Waiting for a market correction and optimising entry time in the markets will be akin to missing the woods for the trees. READ FULL INTERVIEW HERE

2:16 PM

India VIX rises over 5%

Volatility indicator India VIX jumped 5.16 per cent to 12.37

1:59 PM

The multiplex mess: Road to recovery for pandemic-battered cinema is long

The devastation has been absolute. PVR Cinemas had sold over 101 million tickets, made Rs 3,500 crore in revenues and over Rs 600 crore in operating profit in the year ending March 2020. The previous year, 2019, had been one of the best for Indian cinema, and it showed on the balance sheet of the country’s largest film retail firm. Just a year later, its revenues have tumb­led to Rs 310 crore; less than 10 per cent of the March 2020 topline. Its 842 screens remain shut. READ MORE

1:46 PM

Caplin Point jumps 19%, hits record high; stock soars 37% in seven days

Shares of Caplin Point Laboratories hit a record high of Rs 944 as they rallied 19 per cent on the BSE in intra-day trade on Monday in an otherwise subdued market. At 12:56 pm, the stock of the pharmaceutical company was trading 18 per cent higher at Rs 935 on the back of a 10-fold jump in trading volumes. At the same time, the S&P BSE Sensex was trading flat at 52,980 points.

 

A combined 5.8 million equity shares, representing 7.6 per cent of the total equity of Caplin Point Laboratories, had changed hands on the NSE and BSE so far. READ MORE

1:27 PM

BUZZING :: Jindal Stainless (Hisar) zooms 8% in a subdued market

1:17 PM

Mid-market view | Gaurav Garg, Head of Research at CapitalVia Global Research

On Monday, Indian equity benchmarks got off to a sour start due to weakeness in Asian rivals. Market sentiment is also dampened by fears of a third wave and the proliferation of Delta and Delta plus variants. As Commerce and Industry Minister Piyush Goyal expressed confidence that India will continue to attract high levels of foreign direct investment (FDI) in the current fiscal year, the downside was limited, and the market recovered swiftly. Stocks soared to new highs on Wall Street on Friday, with the Dow Jones Industrial Average closing above 35,000 for the first time, as the market recovered from its brief plunge earlier in the week. 

 

We witnessed an attempt in the market to hold above an important support level of 15.800. While sustaining above 15.800 is the key factor from a short-term perspective, we expect the market to extend the rally till 15,920-15,950.

1:12 PM

Bajaj Auto takes a different road from Ola in its electric vehicle journey

Tech giant Ola Electric wants to disrupt the two-wheeler market by offering electric scooters for the price of a 125cc ICE-powered model. Its ambitious target is to get half of the 21 million two-wheeler buyers to move from ICE to electric in a few years as it builds the world’s largest two-wheeler factory in Tamil Nadu. To be fully operational by 2022, it will churn out 10 million units per annum. READ MORE

1:06 PM

Status quo likely in September review of Nifty but not for long

The composition of the Nifty50 index is unlikely to change during the semi-annual review, slated for September. The two key stocks in contention — Info Edge and Avenue Supermarts — are yet to fulfil the inclusion criteria, even as the cutoff date of July 30 nears.

 

This despite the Nifty positions of state-owned Indian Oil and Coal India — the lowest-ranked index constituents, in terms of free-float market capitalisation — appear in danger. READ MORE

12:50 PM

Analysts revise earnings estimates of Reliance Industries by 1-4%

After a beat in the operational performance in the April-June quarter of 2021-22 (FY22), brokerages have revised upwards their earnings estimates of India’s largest listed company by market capitalisation, Reliance Industries (RIL), by 1-4 per cent. The earnings revision has been led by an improvement in margin performance in Reliance Jio, oil-to-chemicals (O2C) business, including the refining segment. READ MORE

12:39 PM

NEWS ALERT :: Vodafone Idea likely raises corporate tariffs

>> Co raises tariff for corporate customers by 30-40%

>> Tariff in the post-paid segment hiked

>> Minimum plan at Rs 299

Source: TV reports

12:33 PM

BPCL, HPCL: Is it time to look at OMC stocks amid crude oil drop?

The Brent crude is struggling to touch the $75-mark after a sharp decline of over 15 per cent from the recent peak of $77.80 a barrel. Crude prices have recovered from last week's low of $67.42, although the momentum is not showing much excitement. Meanwhile, stocks of oil marketing companies (OMCs) off late are witnessing some profit-taking. Shares of BPCL and Hindustan Petroleum Corporation (HPCL) have declined over 10 per cent from the highs touched last month. READ MORE

12:20 PM

Bitcoin leaps 12% to test recent peaks, ether hits 3-week high

Cryptocurrencies popped to the top of recent ranges on Monday as short sellers bailed out in the wake of a strong week and while traders hoped a handful of positive comments from influential investors might signal a turnaround in fragile sentiment. READ MORE

12:07 PM

Aurionpro Solutions surges 16%, hits 52-wk high on robust June quarter nos

Shares of Aurionpro Solutions surged 16 per cent at Rs 238, also its fresh 52-week high, on the BSE in the intra-day trade on Monday after the company reported a robust set of numbers for the quarter ended June 2021 (Q1FY22). In the past one month, the stock of the information technology (IT) software products company has zoomed 64 per cent, as compared to a 0.27 per cent rise in the S&P BSE Sensex. READ MORE