BSE m-cap hits Rs 250 trn as Sensex zooms 663 pts, Nifty climbs 17,100

Bharti Airtel (up 6.7 per cent) was the biggest gainer on the Sensex today, followed by Bajaj Finance, Bajaj Finserv, Asian Paints, TCS, Titan, and Tech Mahindra

3:21 PM

KR Choksey on Vijaya Diagnostics IPO :: Subscribe from long-term view

At the IPO’s upper price band of INR 531, VDC is being valued at 64.3x times earnings, offering potential upside relative to industry average of 89x. Considering strong brand recall, integrated model, high share of B2C, customer stickiness and sector leadership in southern India, we recommend a Subscribe with a long term perspective for VDC’s IPO.

3:15 PM

Index contributors :: Bharti Airtel, Bajaj Finance account for most gains

3:08 PM

Bulls run amok! Sensex zooms over 600 pts

2:55 PM

Global growth rebound solidified, but spread of Delta poses risks: Moody's

In the grouping, advanced economies will grow by 5.6 per cent collectively in 2021 and by 4.2 per cent in 2022, while emerging markets will collectively expand by 7.2 per cent in 2021, and slow to 5.1 per cent growth in 2022.

 

Excluding China (A1 stable), we project G-20 emerging market economies will expand by 5.7 per cent and 4.1 per cent in 2021 and 2022, respectively, Moody's said. READ MORE

2:39 PM

SECTOR WATCH :: NIFTY MEDIA slips into the red

>> Only sectoral loser on NSE in afternoon session

2:27 PM

ALERT :: SRF approves bonus at ratio of 4:1

>> Co to give 4 free shares for every 1 held

2:20 PM

'Leveraged trades can become a worrying factor for the markets'

As the SEBI's new peak margin requirement norms kick in on September 01 where 100 per cent upfront margin payment would be required for initiating even intraday positions, DEVEN CHOKSEY, managing director at KR Choksey Investment Managers in an interview that while Sebi may have achieved the purpose of tightening the screws on trading activity, the cost of trading may go up. READ MORE

2:11 PM

Bharti Airtel clarifies on Google investment buzz; stock hits new high

Shares of Bharti Airtel hit a new high of Rs 648.85 as they rallied 5 per cent on the BSE in intra-day trade on Tuesday after the company said it has received interest from high quality investors and companies for its various businesses. The stock surpassed its previous high of Rs 644 touched on August 16, 2021. READ MORE

1:56 PM

India VIX rises nearly 6%

>> VIX was last hovering above 14 level

1:47 PM

India to China: Where investors managing $3 trn are putting their money

As if the pandemic wasn’t warping global markets enough, China’s regulatory crackdown is suddenly adding new unpredictability. So how best to invest in these strange times? Bloomberg News spoke with institutional investors with $3 trillion in combined assets under management to ask how they’re navigating economic turmoil caused by unpredictable recoveries and China’s shifting rules, which have frozen U.S. listings and almost erased the online education sector. READ MORE

1:38 PM

INDEX CHECK :: Nifty Next50 outruns benchmark; here're the top gainers at this hour

1:24 PM

CURRENCY CHECK :: Powell's dovish tone drags US dollar

>> Rupee trades at day's high

Source: Bloomberg

1:22 PM

ALERT :: Investors book profit with index at all-time high

>> Sensex off day's high, erases half of total gains

1:17 PM

RIL eyes entering new materials, renewable energy biz through acquisitions

RIL is believed to be closing in on a deal to buy out the REC Group, a Norway-headquartered solar module maker with links to the Chinese government-owned China National Chemical Corporation (ChemChina). The deal with RIL is estimated at around $ 1.2 billion. READ MORE

1:10 PM

Should you apply for Vijaya Diagnostic IPO?

Based on FY2021 numbers, IPO is priced at a Price to Earning of 64.3 times and EV/EBITDA of 30 times at the upper price band of the IPO, which is in line with the listed peer group. Company already has a higher market share in key geographics like Hyderabad and we do not expect the covid related benefit to continue in coming years. We believe that at ₹531, all the near term positives are priced in and leaves limited upside for the investors. Hence, we are assigning a NEUTRAL recommendation to the Vijaya Diagnostic centre limited IPO.

-- Yash Gupta, Equity Research Analyst, Angel Broking