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.

SI Reporter New Delhi

MARKETS: Sensex up 600 pts; SBI jumps 4%, hits new high post Q1 results

9:24 AM

Sector Watch :: Realty, FMCG indices witness profit taking

9:24 AM

Sensex Heatmap | Top gainers & losers in opening session

9:21 AM

Top Sensex contributors in opening session : HDFC, Infosys, ICICI Bank

9:19 AM

FIRST TRADE :: NIFTY TOPS 16,200 FOR FIRST TIME

9:18 AM

OPENING BELL :: SENSEX, NIFTY HIT NEW HIGHS

>> BSE barometer Sensex gained nearly 400 points to top 54,000 mark

9:07 AM

COMMODITY CHECK

9:06 AM

Sensex Heatmap | Top gainers & losers in pre-open trade

9:06 AM

Pre-open Session :: Nifty50 above 16,150

9:04 AM

Pre-open session :: Sensex gains 180 points, tops 54K

9:01 AM

Top stocks to watch today

Bharti Airtel: The telecom firm reported a net profit of Rs 283.5 crore, in the first quarter ended June 30 (Q1FY22). This was much lower than consensus estimates which had pegged the same at Rs 604 crore. The company had reported a loss of Rs 15,933 crore in the year ago quarter on account of one-time provision for dues related to adjusted gross revenues.

Tata Consumer: Tata Consumer Products reported a decline of 42.05 per cent YoY in consolidated net profit to Rs 200.24 crore for the first quarter ended June 2021. However, its revenue from operations in April-June 2021 jumped 10.85 per cent YoY to Rs 3,008 crore. READ MORE

8:59 AM

Exxaro Tiles IPO :: Avoid

Exxaro Tiles Ltd. (ETL), is coming up with an IPO to raise up to Rs. 161cr, which opens on 4th Aug. and closes on 6th Aug. 2021. The price band is Rs. 118 - 120 per share.

At higher price band of Rs. 120, the company is demanding a P/E valuation of 35.3x (to its restated FY21 EPS of Rs. 3.4). Considering the RoE of 5.6%, the demanded valuation seems to be highly stretched. There are already much better established peers in the listed space, which an investors can consider for investment. This we are assigning an “AVOID” rating for the issue.

Risk and concerns:

• Subdued economic activities especially, real estate sector

• Unfavorable movements in the raw material prices

• Working capital intensive business

• Rise in interest rates

• Competition

Source: Choice Broking

8:56 AM

Windlas Biotech :: Subscribe for Long-term

Pharmaceutical formulations contract developer and manufacturer Windlas Biotech Ltd. (WBL), is planning to raise up to Rs. 400 crore through an IPO, which opens on 4th Aug. and closes on 6th Aug. 2021. The price band is Rs. 448 - 460 per share.

WBL is focusing on formulation CDMO and there is no peer company focusing solely on the CDMO model. At higher price band of Rs. 460, the company is demanding a P/E valuation of 26.6x (to its restated FY21 EPS of Rs. 17.3). Considering its return ratios and profitability, the issue seems to be fully priced. But factoring the growth drivers of the CDMO sector and opportunities available for the company, we assign a “Subscribe for Long Term” rating for the issue.

Source: Choice Broking

8:50 AM

Krsnaa Diagnostics IPO :: Should you subscribe?

Krsnaa Diagnostics Limited is one of the largest differentiated diagnostic service providers in India. Company provides a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory and tele-radiology services to public and private hospitals, medical colleges and community health centres pan-India.

The company has strong business operations, which are reflected in its financials. It has exhibited a strong 37.65% CAGR on the sales front over FY2019-21, predominantly led by volumes and partially on the back of pricing.

The company is available at the upper end of the IPO price band at 77.7x its FY21 earnings, with a market cap of Rs. 29,941 million. Further on FY21 earnings basis the company is trading below the Industry average of 85.99x. We believe that strong balance sheet position and healthy operating cash flows will enable them to pursue growth opportunities and also fund their strategic initiatives. Hence, we recommend a “Subscribe” on the issue.

Views by: Anand Rathi Shares and Stock Brokers

8:48 AM