Sensex ends 235 pts off day's high, up 69 pts; ZEEL surges 40% ahead of AGM

Interest in the broader markets remained strong, with BSE Midcap index rallying 1.09 per cent and the BSE Smallcap index 0.63 per cent

12:17 PM

KR Choksey on Devyani International

Given the prevailing opportunities in QSR industry, change in delivery mechanism and DIL’s focus on implementation of technology to increase footfall and improving operational efficiency, rightsizing stores, store expansion in new areas, resulting into improving unit metrics and reduction of debt, we expect DIL to be a key  beneficiary of the same.

 

We Initiate Coverage on Devyani International Ltd. with a BUY rating for a target price of INR 151 per share valuing at 30x FY24E EV/EBIDTA giving 31%  upside from current levels. DIL’s share price has corrected ~18% to its IPO listing price which provides a good opportunity to buy the stock.

12:07 PM

ALERT :: WPI inflation for August at 11.39%

>> It was at 11.16% in the month of July

11:54 AM

This Rakesh Jhunjhunwala-owned stock hits record high; up 30% in 3-weeks

Shares of Nazara Technologies hit a record high of Rs 2,076, and have rallied 8 per cent on the BSE in intra-day trade on Tuesday, surging 16 per cent in past two trading days. In the process, the stock of information technology (IT) software products company surpassed its previous high of Rs 2,026.90 touched on debut day i.e. March 30, 2021.  READ MORE

11:41 AM

Godawari Power and Ispat approves share split in 1:2 ratio

>> Company to issue bonus shares in 1:1 ratio

READ MORE

11:38 AM

TCS, RIL & private banks among top Sensex contributors

11:26 AM

Anand Rathi's take on India's latest CPI inflation numbers

Retail inflation in August 2021 at 5.3 per cent surprised positively. Despite high edible oil and fuel-related price rises, soft food prices contained inflation – a trend we expect to continue. Despite a likely rate hike in the next six months, little transmission is expected. We expect the RBI to start normalisation of policy rates within the next six months. But forex intervention, OMO and the low credit-deposit ratio would result in continuation of the large liquidity overhang, resulting in little transmission of the policy rate-hike, says brokerage firm Anand Rathi on India's CPI inflation data.
 

 

11:22 AM

Kotak Mahindra Bank rises over 1% in trade

>> The bank had cut its home loan interest rates by 15 basis points to 6.50% per annum

>> This special rate is for a limited period beginning September 10 and ending November 8
 

11:10 AM

Fear gauge index India VIX falls 2.5% to 13.67

11:00 AM

IPO Update :: Sansera Engineering subscribed 11% within first hour

10:49 AM

Dish TV jumps another 10% as Hindustan Times buys notable stake

Hindustan Times purchased 20 million equity shares, representing 1.16 per cent of total equity Dish TV India for Rs 38.44 crore in a bulk deal on the NSE on 13 September. The stock has soared 55 per cent in the last five trading sessions. READ MORE

10:45 AM

Jet Airways to have over 100 aircraft in 5 years; HQ will shift to Gurugram

Jet Airways will resume operations in the first quarter of 2022 and have over hundred aircraft in five years, the Kalrock-Jalan consortium said in a statement on Monday. The airline will be headquartered in Delhi and operate its first flight on the Delhi-Mumbai route, it added. READ MORE

10:33 AM

Vijaya Diagnostic jumps 11% after a quiet debut on BSE

Shares of Vijaya Diagnostic Centre made a quiet debut, as the stock opened at Rs 542.30, 2 per cent higher against the issue price of Rs 531 per share on the BSE. On the National Stock Exchange (NSE), it opened at Rs 540.

 

However, post listing, the stock soon jumped to a high of 588, a 11 per cent premium over its issue price on the BSE. At 10:11 am; it was traded at Rs 573.90. Around 7 million equity shares changed hands at the counter on the NSE and BSE. READ MORE

 

10:21 AM

Ami Organics makes strong debut, lists at 49% premium over issue price

Specialty chemicals company Ami Organics made a strong stock market debut as its shares opened at Rs 910, a 49 per cent premium over its issue price of Rs 610 per share on the National Stock Exchange (NSE). On the BSE, the stock opened at Rs 902, 48 per cent higher than its issue price.

 

Post listing, the stock hit a high of Rs 929 and a low of Rs 841 on the NSE and BSE in intra-day trade. At 10:02 am, it traded at Rs 902.70, up 48 per cent against its issue price on the BSE. A combined 3.7 million equity shares had changed hands on the counter on the NSE and BSE at the time of writing this report.  READ MORE

 

10:12 AM

MARKET VIEW | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

A major trend in the market this year has been the wide variations in sectoral performances. Metal, IT and Realty have been outperformers with YTD appreciation of 79.41%, 44.86% and 33.92% respectively while the erstwhile market darling, private banking, is languishing with a mere 9.39% appreciation YTD. Pharma too is underperforming with a modest 11.31% appreciation YTD. Two conclusions are possible from this: one, the market is indicating where the near term earnings visibility lies and two, the underperforming banking space has some catching up to do. Meanwhile, the 'buy on dips' strategy has been rewarding investors handsomely since all market corrections are happening intra-day. The better than expected CPI inflation numbers which came in at 5.3 % for August is very positive news. MPC can be expected to continue with the accommodative stance for an extended period of time,

10:08 AM

Infosys up 0.1% after the IT services major said it has bought back over 5.58 crore equity shares

>> This is part of its about Rs 9,200 crore buyback offer

>> The shares were bought back at a volume weighted average price of Rs 1,648.53 per equity share