Sensex rises 488 pts in relief rally; Nifty Realty up 6%; Tata Motors 13%

In the broader market, the BSE MidCap and SmallCap indices added 1.7 per cent and 1.4 per cent, respectively

12:59 PM

ALERT :: Bank of Baroda, reduces home loan rates to 6.50% from 6.75% w.e.f October 7

12:44 PM

Sobha rallies 14% on reporting best ever sales volume in September quarter

The consensus of most of the experts in this sector remain that the work from home, low interest rates, increased affordability, significant pickup in the prospects of IT sector and increase in salaries etc. and focus of banking sector to support home buyers augur well for the sustainability in the demand, the company said. “Steady reduction in unsold inventory and demand revival are lifting the housing market out of the down cycle. Prices are nosing up. This along with potential market share gains places organized developers in a sweet spot,” it added. READ MORE

12:35 PM

TCS Q2 preview: Analysts see up to 33 % PAT growth; deal wins eyed

Information technology (IT) major Tata Consultancy Services (TCS) is likely to kick-off the July-September quarter (Q2) earnings season this Friday on a firm note. Most brokerages are pencilling in double-digit growth in net profit and revenue, led by improvement in demand from BFSI, healthcare and retail, acceleration in digital technologies and ramp-up of deals along with recovery from the India market. Furthermore, persistent market share loss of key players such as Capgemini and Cognizant is also expected to directly benefit TCS. READ MORE

12:20 PM

Top Sensex contributors at this hour

12:19 PM

SBI Cards, Laurus Labs, Chambal Fert rally up to 10% on F&O inclusion boost

Shares of Chambal Fertilisers & Chemicals, Atul, Firstsource Solutions (FSL), Whirlpool of India and four others were in demand on the bourses on Thursday after the exchange announced inclusion of these stocks in the futures & options (F&O) or derivative segment from October 29, 2021. These shares rallied by up to 10 per cent on the National Stock Exchange (NSE) in the intra-day trade today. READ MORE

 

12:12 PM

ALERT :: Sensex at day's high

11:56 AM

Titan in high growth phase, say analysts; upgrade earnings expectations

A strong recovery in demand in the July-September quarter (Q2FY22), supported by sales near pre-Covid levels, propelled shares of Titan Company to new record high on Thursday. The stock of the Tata Group firm surged 9.3 per cent to Rs 2,348.5 apiece on the BSE, taking its market capitalization (m-cap) beyond Rs 2-trillion mark.

Going-forward, analysts expect an uptick in Titan’s earnings given its potential to capture market share gains due to the jewellery sector’s long-term growth potential, shift from unorganized to organized players, and diverse product portfolio. READ MORE

11:40 AM

Tata Motors rallies 10%, at 3-year high on strong business outlook, brokerage upgrade

Foreign brokerage firm Morgan Stanley upgraded the stock with an overweight rating from equal-weight and raised target price to Rs 448 from Rs 298 earlier on the back of improved business outlook. READ MORE

11:31 AM

Should you buy Sobha post strong Q2 business update?

Sobha reported best ever sales volumes for the quarter Q2FY22, company reported pre-sales of 1.34 Mn sqft up by 51% as compared to 0.89 of Q2FY21. Bengaluru market again top performer for the company sales up by 48% at 0.8 Mn Sqft while other markets like Gurugram at 0.18 Mn sqft, Kochi at 0.11 Mn sqft. Company has reported total sales of Rs 1030 crores up by 49% as compared to Q2FY21 of Rs 6899. Sales realization has come down YoY due to change in sales mix at Rs 7637.

 

We have seen very strong demand in geographics like Bengaluru, Gurugram, Pune etc during the quarter and we expect sales momentum to continue for the coming quarters on back of festival seasons and lowest home loan interest rate. We continue with our buy call on Sobha Limited.

-- Yash Gupta, Equity Research Analyst, Angel One

11:25 AM

BSE Smallcap index up 1.4% at 29,100

Syncom Formulations, Nureca and Best Agrolife are the top smallcap gainers, up over 15 per cent each. Here's a detailed BSE Smallcap heatmap.

11:08 AM

Market breadth positive, 3 advancing shares for one declining share

The market breadth is fairly positive, with 3 advancing shares on the BSE for every single declining stock. Out of 3,193 stocks traded on the BSE so far, 2,256 have advanced, while only 779 have declined.

10:54 AM

Titan shines 9% on strong Q2 biz update; market-cap crosses Rs 2-trn mark

The stock now trades at record high levels, backed by strong Q2FY22 revenue growth, the company reports 78 per cent year on year (YoY) jump in standalone revenue for the July-September quarter (Q2FY22).

 

10:34 AM

BSE Midcap index up 1.4% at 25,717

Lodha, Oberoi Realty are the major gainers among the BSE Midcap index pack. Here's how the BSE Midcap index heatmap looks:

10:31 AM

Further re-rating likely for NTPC stock: Here are a few possible triggers

A sharp increase in power demand has been visible as economic activity revives. After shrinking in 2020-21, GDP is expected to grow by 9-10 per cent in 2021-22 according to various estimates. Merchant power is being traded at high rates on the IEX.

 

All this should be good for power generators. The BSE Power Index (which includes Capital Goods stocks like BHEL, Thermax and Torrent) and NSE Energy (which includes stocks like ONGC, Indian Oil, Gail and Reliance Industries) have moved to new highs. READ MORE

10:13 AM

MARKET COMMENT :: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Nifty's range of 17500-18000 is likely to be broken in the next few days. Outcomes of probable Taper timelines, MPC meeting and Q2 results are likely to be market moving. An area of concern is the MPC sounding caution on the inflation front and gradually moving away from accommodative monetary policy. Also the central bank will have to initiate measures to absorb the excess liquidity in the system.

 

Globally, the Fed's communication on the Taper timeline, which in turn will be  influenced by the non-farm payrolls data, will be keenly watched by the markets.

 

While the bears swear by the  elevated valuations in the markets, the bulls are optimistic about the prospects of steady rise in corporate earnings for the next 3 to 4 years.