Sensex up 546 pts, ends above 54K; Nifty tops 16,250; financial stocks gain

The broader market, however, saw profit booking as, both, the BSE Mid and SmallCap indices declined 1 per cent each.

1:03 PM

IPO UPDATE :: Devyani International IPO sails through

1:01 PM

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

Indian benchmark indices started positive with the global sentiments intact towards positivity, completely ignoring the spread of delta variant around the world. Sentiment in the Indian market remained positive with the market breaching important level of 16000, and positive cues from the wall street and other Asian markets. All major sectors have shown positivity in the market in the second half. We have witnessed the breach of 16200 level, sustaining above 16200, we expect the market to gain momentum, leading to an upside projection till 16450-16500 level. Technical indicators also support positivity in the market.

12:53 PM

Voda Idea slips 26% in 2 days as Vodafone Plc rules out fresh fund infusion

Shares of Vodafone Idea (Vi) were slipped 18.5 per cent at Rs 6.03, hitting a fresh 52-week low on the BSE in the intra-day trade on Wednesday, after report suggested that Vodafone Group Plc has ruled out any further equity infusion in its debt-ridden telecom joint venture in India. With today's fall, the stock of the telecom services provider has tanked 26 per cent in two days after reports suggested Kumar Mangalam Birla has told the government that he is willing to give up promoter stake in the company. READ MORE

 

12:30 PM

NEWS ALERT :: Kesoram Industries increases size of rights issue

Kesoram Industries said the fund raising committee of the Board of Directors has enhanced the size of Rights Issue from up to Rs 200 crore to up to Rs. 400 crore.

12:26 PM

NEWS ALERT :: Indian Hotels Board to consider fund raising options at Aug 9 meeting

12:22 PM

IPO UPDATE :: Windlas Biotech IPO sails through within 2 hours

12:15 PM

IPO frenzy: 24 stocks that more than doubled your money in two years

The retail frenzy over initial public offers (IPOs) seen over the past few months is not without reason.

 

Over the past two years, 61 companies have tapped the primary market and raised funds via IPOs. Of these, 24 companies (nearly 39 per cent companies) have more than doubled at the bourses with Happiest Minds, IndiaMart Intermesh, Indian Railway Catering and Tourism Corporation (IRCTC), Affle India and Route Mobile surging 468 per cent to 722 per cent since their listing date till now. READ MORE

12:06 PM

ICICI Pru, IIFL Wealth: Trading strategies for buzzing stocks of the day

The benchmark indices recorded another day of solid gains, vaulting past crucial levels amid robust India Inc earnings and promising macroeconomic data. The BSE Sensex crossed the 54,000-mark for the first time while NSE Nifty topped 16,200. While action remained hot at the flagship level, there were certain stocks that also buzzed on traders' radar. Here are trading strategies for them.

11:50 AM

AMAZON-FUTURE RETAIL CASE UPDATE

>> Delhi HC defers hearing in case as SC verdict awaited

 

>> SC to decide on fate on FRL-Reliance Retail deal by Aug 12

 

>> HC to hear FRL's appeal vs single-judge order to attach its assets on August 31

11:45 AM

What to expect from RBI's monetary policy outcome on Friday?

The MPC would likely continue with the accommodative stance and maintain the rates unchanged as the economy is still in the recovery phase. The fear of the third wave would also force the RBI to continue with the growth-supporting measures. However, the rising inflation rate in the domestic economy is a worry. And, one needs to closely see whether there will be an indication of the normalization of monetary policy.

-- Deepthi Mathew, Economist at Geojit Financial Services

11:39 AM

IIFL Wealth up 14% on strong Q1 results, dividend bounty of Rs 35 per share

Shares of IIFL Wealth Management surged 14 per cent to Rs 1,580, also its 52-week high, on the BSE in the intra-day trade on Wednesday after the company reported a good set of numbers for the quarter ended June 2021 (Q1FY22). Its consolidated profit after tax (PAT) jumped 42 per cent year on year (YoY) at Rs 119 crore on back of strong operational performance, while sequentially, PAT grew 16 per cent. The company announced a special dividend of Rs 35 per share. READ MORE

11:22 AM

Fintech firm BharatPe valued at $2.85 bln after Tiger Global-led funding

The fund raising, which pushes three-year old BharatPe into the unicorn club, gives the company capital as it takes over distressed lender Punjab and Maharashtra Co-operative Bank with Centrum Financial Services to create a small finance bank.

 

"We now have $0.5 billion cash on books and are extremely well capitalized to deliver on our mandate to build India's first truly digital bank," said Ashneer Grover, co-founder and managing director of BharatPe. READ MORE

11:10 AM

IPO CHECK :: Exxaro Tiles IPO fully subscribed within one hour

11:06 AM

BUZZING :: Vodafone Idea shares in free fall, tank another 8%

10:55 AM

Q&A | Markets could consolidate at current levels: Harshad Patil, Tata AIA Life

With the markets hitting a fresh record high and India Inc mostly reporting a good set of numbers for the June 2021 quarter, HARSHAD PATIL, executive vice-president and chief investment officer at Tata AIA Life, tells in an interview that rising spend by the government as well as emergence of private sector capex is expected to keep earnings momentum buoyant for the next few years. READ MORE