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

12:59 PM

Market View with Nifty@17,000

Decent F&O Rollovers, Fed’s Dovish stance, Weakening Dollar & FDI numbers ensure that Nifty crosses the coveted 17,000 mark. After the consolidation of June & July, Nifty has taken off in August adding around 8% gains in August. Market Breadth & Thurst have vastly improved as compared to last week along with the Banking Index giving a breakout from its 5 month consolidation.

-- Rahul Sharma, Head Technical and Derivatives Research, JM Financial Services

12:55 PM

Adani Grp stocks soar; Adani Transmission, Total Gas add up to 75% in 1 mth

Shares of Adani group companies were in demand on Tuesday as they rallied by up to 5 per cent on the BSE in the intra-day trade. Adani Transmission (Rs 1,580), Adani Total Gas (Rs 1,447) and Adani Power (Rs 98.50) were locked in the 5 per cent upper circuit bands on the BSE with only buyers being seen on the counters. READ MORE

12:39 PM

ALERT :: Sensex at record high!

12:33 PM

Airtel's Rs 21k-cr rights issue may open exit door for Voda Idea: Analysts

Shares of Bharti Airtel fired up on the bourses on Tuesday after chairman Sunil Bharti Mittal said on Monday that tariff hike was the only way forward for the telecom industry. This came a day after the Board approved a Rs 21,000-crore rights issue primarily to fund its dues linked to adjusted gross revenue (AGR). Indicating a target for a tariff hike, Mittal said the monthly ARPU (average revenue per user) should touch Rs 200 by the end of the current fiscal, projecting a 40 per cent rise from the current Rs 146 a month. Eventually, it should go up to Rs 300 to serve the customers well, he said. READ MORE

12:27 PM

Top 5 Nifty gainers and losers as index scales Mt 17,000

12:16 PM

ALERT :: NIFTY HITS 17,000 FOR FIRST TIME

>> The index had hit 16,000 on Aug 3

12:06 PM

Nifty Bank at 5-month high; may lead next leg of the mkt rally, charts show

NIFTY BANK 

Likely target: 37,000 and above 37,708 

Upside potential: 1.30% to 3.30% 

 

In the past few months, the Nifty Bank Index has consistently struggled to rise above the 36,000 mark. A move above the 36,497 levels, which is the five-month high for the index, can take it up further. READ MORE

 

11:47 AM

Globus Spirits zooms 208% in 3 months on healthy outlook; hits new high

Shares of Globus Spirits hit a new high of Rs 1006.10, up 5 per cent on the BSE in the intra-day trade on Tuesday, having gained 12 per cent in the past three trading days, after the company said the new capacity additions and strong balance sheet is likely to take the company to new heights going forward. In the past three months, the stock of Globus Spirits has zoomed 208 per cent as compared to a10 per cent rise in the S&P BSE Sensex. Currently, the stock is trading under the T group on the BSE. In the T2T segment, each trade has to result in delivery and no intra-day netting of positions is allowed. READ MORE

11:37 AM

SECTOR WATCH | Nifty Metal biggest sectoral gainer at this hour

11:22 AM

Airtel jumps 8% in 2 days on Rs 21,000 cr fundraise, Google investment talk

The Sunil Mittal-led firm has set the rights issue price of Rs 532 per share. Further, the rights entitlement ratio entails one equity share for every 14 equity shares held by eligible shareholders as on the record date. The company is yet to announce the ex-date, RE trading window and allotment timelines for the rights offering. READ MORE

11:07 AM

Airtel rights entitlement price could be Rs 60-70 per share: Analysts

Existing shareholders of telecom major Bharti Airtel may be able to sell their rights entitlement (RE) between Rs 60 and Rs 70 per unit, according to analysts’ calculation based on the current market price and rights issue price. To be sure, the value of RE could change in the run up to the rights issue allotment depending on how the shares of the telecom major behave over the coming month. READ MORE

 

10:50 AM

Aptech hits over 3-year high ahead of board meet to launch new online biz

Aptech in the financial year 2020-21 (FY21) annual report said that the ‘Digital Pivot’ implemented by the company mitigated the pandemic’s impact to a great extent and the cost rationalisation initiatives ensured a profitable performance during FY2020-21. These measures would continue to help the company mitigate the impact from the closure of centres for in-classroom training sessions, it added. READ MORE

10:38 AM

ALERT :: L&T concludes the divestment of 99 MW Hydro Power Plant with Renew Power

>> L&T concluded the divestment of its 100% stake in the 3 x 33 MW (99 MW) hydroelectric power plant at Singoli-Bhatwari in Uttarakhand. As per the terms, the EPC Projects, Hi-Tech Manufacturing and Services conglomerate received a consideration of Rs 1,001.50 crore as divestment proceeds from Renew Power on August 30th 2021. 

10:24 AM

US Fed now risks too-slow taper after too fast in 2013, says Raghuram Rajan

“The Fed thinks it has time” to slow-walk the tightening process, especially given longer-term disinflationary forces like aging, automation and globalization, Raghuram Rajan said in an interview with Bloomberg Television’s Kathleen Hays and Haidi Straud-Watts Tuesday morning in Asia. READ MORE

10:11 AM

HCL Technologies hits new high; stock surges 16% in one month

Shares of HCL Technologies hit a new high of Rs 1,193.15, up 3 per cent on the BSE in the intra-day trade on Tuesday, after the company announced investment of $1.25 million in Series A preferred shares of Austin GIS Inc., a Delaware-based entity. Austin GIS, Inc., a newly formed entity, is raising funds via Series A preferred shares investment from shareholder investors. This is to tap growth opportunity in Internet of Things (IoT) and 5G RAN industries, which complements HCL's services as an IT service provider. READ MORE