Sensex gyrates 370 pts, ends 127 pts down; Nifty holds 17,350; RIL dips 2%

However, healthy buying in the broader market kept overall market breadth in the favour of the buyers

3:39 PM

Sensex Heatmap

Top gainers: Kotak Bank, Tata Steel, TCS

Top losers: RIL, ICICI Bank, HUL

3:35 PM

CLOSING BELL

The S&P BSE Sensex gyrated 370 points in the intra-day trade before settling 127 points, or 0.22 per cent, lower at 58,178 levels.

 

It's NSE counterpart, meanwhile, closed at 17,355 levels, down 14 points or 0.08 per cent.

3:24 PM

NEWS ALERT :: Suryoday SFB clarifies on Clix Capital merger report

>> The management of the Bank continues to explore and evaluate various opporlunities or associations in the interest of the Bank, as and when considered appropriate, which is always a subject matter of fuither feasibility studies and the need for requisite consents in accordance to applicable law and other stakeholders

>> At present, there is no such decision taken by the Board or any of its Committees, which calls for dissemination of information or disclosure of event in terms of regulation 30 of the Listing Regulations. Accordingly, we would be unable to comment upon the said News Article.

3:12 PM

Liquidity no longer a major concern, FM Sitharaman assures India Inc

The move is likely to give impetus to economic recovery during the festive season and also ensure availability of credit for sectors like export. The credit outreach programme is likely to be similar to the credit outreach programme launched in 2019, through which banks held loan melas across 400 districts and reportedly disbursed around Rs 4.9 trillion. READ MORE

3:00 PM

Vedanta Resources reduces net debt by $300 mn in first half of FY'22

Vedanta Resources Ltd (VRL) on Monday announced that the company has reduced its net debt by USD 300 million in the first half of this fiscal and expects to further reduce its debt by USD 500 million in the second half of FY'22.

 

With the entire debt repayment at Volcan, the pledge on all the equity shares of VRL has been released, the company said in a statement READ MORE

2:52 PM

Analysts see 19% upside in this FMCG stock on growth outlook, product mix

After clocking a dizzying rally, Hindustan Unilever shares may take a breather before hitting fresh record highs, believe analysts. They are penciling in up to 19 per cent upside from current market levels, deriving comfort from the company’s long-term growth strategies, along with increase in prices to protect margins. That said, some scale-back of 180-230bps in the medium-term margin-synergies target for the Nutrition business could be an overhang, they say. READ MORE

2:24 PM

Goldiam Intl soars 17% as board approves buyback at Rs 1,200 per share

Shares of Goldiam International soared 17 per cent to a new high of Rs 1,074 on the BSE in intra-day trades on Monday after the company's board approved buyback of equity shares at price of Rs 1,200 via tender offer. The company is an integrated manufacturer and supplier of impeccable diamond jewellery to leading retailers and wholesalers in the USA and Europe. READ MORE

2:21 PM

Kesoram Industries approves rights issue up 8 cr equity shares worth Rs 400 cr

>> Rights entitlement ratio is 133 shares for every 274 shares held

2:11 PM

ALERT :: Pfizer's Covid vaccine for 5-11 age group likely to be available in US by October end

1:51 PM

Telecom Department may approve proposals in relation to telecom equipment PLI this week

Source: TV channels

1:30 PM

Stock of this industrial machinery company has zoomed 51% in three days

Shares of Dynamatic Technologies hit a 52-week high of Rs 3,447.85 after they rallied 20 per cent on the BSE in the intra-day trade on Monday, in an otherwise subdued market. The stock of the industrial machinery company was quoting higher for the third straight trading day, zooming 51 per cent during the period. In comparison, the S&P BSE Sensex was down 0.16 per cent at 58,213 points at 12:46 pm. READ MORE

1:16 PM

Adani Transmission market cap crosses Rs 2 trillion mark

1:04 PM

MTAR Technologies bags orders worth Rs 220 cr from Bloom Energy for manufactured and assembled products

>> This order is for export of Yuma Hot Boxes and associated components for Bloom Energy to be delivered over the four quarters of the calendar year 2022
 

12:47 PM

Ami Organics' GMP suggests decent debut. What should retail investors do?

Ami Organics Limited IPO to list on stock exchanges on September 14, 2021 and the basis of allotment for retail shareholders is 17:161.allotment, it means that only nearby 10% of retail investors will get the allotment. 

 

Ami Organics IPO was priced at Price to Earnings of 35.6 times and EV/EBITDA of 25.7 times at the upper price band of the IPO based on FY2021 numbers, which is on the higher side, compared to the listed peer group. 

 

If we look at the current Grey Market Premium is at Rs 145 i.e 23% at the upper price band of the IPO. We suggest short-term investors to book profit on listing day if they receive the allotment.

 

Views by: Yash Gupta, Equity Research Analyst, Angel Broking

12:34 PM

NEW LISTING :: Here's what to expect from Vijaya Diagnostics' market debut?

Vijay Diagnostic Centre Limited to list on stock exchanges on 14th September 2021, the overall retail portion got subscribed 1.09 times so it was expected that almost all the investors got the allotment. Vijaya Diagnostic IPO is priced at Price to Earnings of 64.3 times and EV/EBITDA of 30 times at the upper price band of the IPO based on FY2021 numbers, which is in line with the listed peer group. 

 

We are not expecting any big listing gain from Vijaya Diagnostic Centre Limited IPO as we believe that all the short term positive has been priced in the IPO price i.e Rs 531. If we look at the current Grey Market Premium, as per market news GMP is at Rs 5 i.e 1% at the upper price band of the IPO. 

 

We suggest retail investors who got the allotment to sell the stock at a price range of Rs 540-Rs560 and the investors who haven't received the allotment should not buy the stock at listing.

 

Views by: Yash Gupta, Equity Research Analyst, Angel Broking