Profit-booking drags broader mkts; Metal, PSB indices fall 3%, IT stocks up

The BSE Sensex closed at 54,555 levels, up 152 points or 0.28 per cent. The Nifty50 index shut shop at 16,280 levels, up 22 points or 0.13 per cent

1:03 PM

Bharti Airtel hits all-time high on robust outlook; stock up 20% in 3 weeks

Shares of Bharti Airtel hit an all-time high of Rs 627.95, up 5 per cent on the BSE in the intra-day trade on Tuesday, on encouraging outlook. The stock of the telecom services provider surpassed its previous high of Rs 623, touched on February 4, 2021. In the past three weeks, the stock has surged 20 per cent, as compared to a 4.9 per cent rise in the S&P BSE Sensex. READ MORE

12:51 PM

June quarter results :: MOTHERSON SUMI

>> Revenue at Rs 16,712 crore

>> Profit at Rs 290 crore

>> EBITDA at Rs 1,462 crore

>> EBITDA margin at 14.5%

12:37 PM

Amara Raja, Indo National: Stocks of battery makers that can jump up to 25%

Amara Raja Batteries Limited (AMARAJABAT)
Likely target: Rs 774 and Rs 840
Upside potential: 4.50% to 12%

To breakout on the upside, the counter needs to firmly close above 50-days moving average (DMA), which is currently placed at Rs 740 levels. Only upon conquering the resistance, the stock may see head towards Rs 774 and then Rs 840 levels, which are its 100-DMA and 200-DMA, respectively. READ MORE

12:29 PM

Split verdict in Sebi-PNB Housing case underscores SAT's exigency

At present, SAT—which entertains appeals of those aggrieved with the directives passed by market regulator Sebi, insurance regulator Irdai and pension sector regulator PFDRA—if functioning with just two members—presiding officer Tarun Agarwala and judicial member M T Joshi. READ MORE

 

 

12:17 PM

Tech Mahindra extends gains post June quarter results; stock hits new high

In the past one month, Tech Mahindra has outperformed the market by surging 25 per cent, as compared to a 4.4 per cent rise in the S&P BSE Sensex. In comparison, its peers, Tata Consultancy Services (up 3.5 per cent), Infosys (7 per cent), Wipro (15 per cent) and HCL Technologies (8 per cent) were up between 3 per cent and 15 per cent. READ MORE

12:01 PM

Chemplast Sanmar IPO: Should you bet on a company with negative net worth?

After Chemcon Speciality and Heranba Industries, another chemical maker – Chemplast Sanmar – is eyeing a second stint on the stock exchanges given the frenzy in the public offer market. The Southern India-based chemical manufacturing company has launched its initial public offer (IPO) on Tuesday with an aim to raise Rs 3,850 crore but analysts are not gung-ho about the company’s offer. READ MORE

11:45 AM

Strong financials vs pricey valuations: Should you bid for Aptus Value IPO?

The three day Aptus Value Housing Finance IPO opened for subscription on Tuesday, August 10, to raise Rs 2,780 crore at the upper end of the price band of Rs 346-353 per share. The issue is a mix of an offer for sale (Rs 2,280 crore) and a fresh issue (Rs 500 crore). The proceeds from the offer for sale will go to the selling shareholders, while the amount received from the sale of fresh issue will be utilized for fully augmenting the tier I capital requirements of the company. READ MORE

11:31 AM

SENSEX HITS FRESH RECORD HIGH

11:30 AM

Shree Cement: In-line Q1, robust outlook

The results of cement major Shree Cement, released after market closing, seemed to be more or less in line with expectations. But the market response to the stock had been muted with some profit-booking after a sharp run-up in the past few sessions.

 

In Q1, 2021-22, Shree Cement reported Rs 3,635 crore in consolidated operational revenues, which was 46 per cent more than Rs 2,487 crore in the corresponding quarter of 2020-21 and 14 per cent less than the Rs 4,235 crore of Q4, 2020-21.  READ MORE

11:16 AM

Future Retail rebounds 21% from day's low on Amazon bail-out report

Shares of Future Group companies were in focus on Tuesday as they rallied up to 17 per cent on the BSE in the intra-day trade on report that Amazon has drawn up blueprint to bailout for cash-strapped Future Retail. "Amazon.com Inc. is preparing a bailout plan for cash-strapped Future Retail if the Singapore International Arbitration Centre (SIAC) rules against a planned takeover of the Indian retail chain by Reliance Industries Ltd (RIL)," financial daily Mint reported quoting two people aware of the internal discussions at Amazon. READ MORE

10:50 AM

Jubilant FoodWorks rallies 25% in three weeks; hits new high on BSE

Shares of Jubilant FoodWorks (JFL) hit a new high of Rs 3,842, up 4 per cent on the BSE in intra-day trade on Tuesday on expectation of a strong growth outlook. In the past three weeks, the stock of this quick service restaurant (QSR) company has rallied 25 per cent after reported a good set of numbers for the quarter ended June 2021 (Q1FY22). IN the process, the counter has managed to surpass its previous high of Rs 3,829.10 hit on August 3, 2021. READ MORE

10:32 AM

Indian promoters likely to give personal guarantee on foreign assets

In a major shift from its earlier stance, the Reserve Bank of India (RBI) on Monday proposed allowing Indian promoters to issue personal guarantees for overseas firms in which they have acquired a controlling stake, albeit with limits. At the same time, an Indian company can pledge its foreign shareholding to raise funds overseas. Local companies can even pledge their Indian assets to raise funds for overseas entities, but within prescribed limits. READ MORE

10:22 AM

CoinDCX is India's first crypto unicorn as country debates virtual assets

The latest funding round values the firm at $1.1 billion, Chief Executive Officer and co-founder Sumit Gupta said in an interview Tuesday. Other investors include existing partners Coinbase Ventures, Polychain Capital, Block.one, and Jump Capital. READ MORE

10:07 AM

Rupee opening

> Rupee opens at 74.41 versus US dollar as against close of 74.26 on Monday

9:59 AM

NEWS ALERT

>> Keventer Agro files with Sebi for IPO