Sensex sheds 355 pts; Nifty below 15,650; smallcaps bleed

In the global markets, mainstream indices in Japan, South Korea. and Australia declined in the range of 0.35 to 0.96 per cent

3:20 PM

ADB lowers India's economic growth forecast for this fiscal to 10%

The Asian Development Bank has downgraded India's economic growth forecast for the current financial year to 10 per cent on Tuesday, from 11 per cent projected in April, on account of the adverse impact of the coronavirus pandemic. India's GDP growth recovered to 1.6 per cent in the last quarter of fiscal year ended March 2021, narrowing contraction in the whole fiscal year from 8 per cent estimated in April to a revised 7.3 per cent, the multilateral funding agency said in the Asian Development Outlook (ADO) Supplement. READ MORE

3:07 PM

Asian Paints rallies 7%, hits record high as Q1 profit beats estimate

The stock surpassed its previous high of Rs 2,979.35, touched on June 22, 2021. At 02:50 pm, it was trading 6 per cent higher at Rs 3,153. In comparison, the S&P BSE Sensex was down 255 points, or 0.48 per cent, at 52,299 levels. Trading volumes on the counter jumped three-fold with a combined around 6 million shares changing hands on the NSE and BSE. Asian Paints is India’s leading paint company and is ranked among the top ten decorative coatings companies in the world. READ MORE

2:51 PM

Swiggy valuation tops $5.5 bn after raising $1.25 bn from SoftBank, Prosus

This fundraise will give enough firepower to Swiggy to counter competition from rivals such as Zomato, Amazon, Dunzo and Ola Foods. This investment will further accelerate Swiggy’s multi-year strategy of growing its core food delivery business and building new food and non-food adjacencies in 2021 and beyond. To support this, Swiggy will enhance its capabilities in technology and AI, and strengthen teams across engineering, product, data science and analytics as well as in business and supply chain for its newer initiatives. READ MORE

2:34 PM

IPO Check :: Tatva Chintan IPO subscribed 130 times

>> The issue closes at 5 pm today

2:31 PM

Sebi bars Global Infratech, its directors, 12 others from securities market

Markets regulator Sebi has restrained Global Infratech and Finance Ltd, its directors and 12 other individuals from the securities market for their roles in a fraudulent scheme of trading in the firm's shares. The company and its directors -- Pravin Sawant and Jagdish Chander Sharma -- have been banned from the securities market for two years, while others have been restrained for six months, as per an order passed by Sebi on July 16. READ MORE

2:17 PM

Asian Paints extends gains post Q1 numbers

2:06 PM

June Quarter Result : Asian Paints

Net profit: Rs 574.3 crore

Revenue: Rs 5,585.4 crore

Ebitda: Rs 913.6 crore

Ebitda margin: 16.4%

2:04 PM

Motilal Oswal to raise Rs 4,000 cr fund from domestic, global investors

Motilal Oswal Private Equity (MOPE) is looking to raise a Rs 4,000 crore private equity fund from domestic and global investors, a top executive from the fund manager said on Tuesday.

 

"We intend to invest in mid-market companies in financial services, consumer and pharma sectors," said Vishal Tulsyan, managing director & CEO, Motilal Oswal Private Equity. READ MORE

1:41 PM

Investors should stick to algo strategy even if it underperforms: Analysts

Many retail investors who have entered equity markets during the current bull-run have now begun to participate in algo trading, which was available only to institutional investors till a few years ago. How does it work? The quant (the person who creates the algorithm or algo) studies historical data to come up with certain trading rules that he believes will make money. READ MORE

1:21 PM

Cement shares on a roll; ACC, Ambuja, UltraTech, JK Lakshmi hit new highs

UltraTech Cement, ACC, Ambuja Cements, Birla Corporation, JK Lakshmi Cement, Sagar Cements, Shree Digvijay Cement and The Ramco Cement hit their respective new highs and traded higher between 3 per cent and 9 per cent on the BSE. In comparison, the S&P BSE Sensex was down 0.63 per cent, or 331 points, at 52,223 points at 12:47 pm. READ MORE

12:52 PM

Stock of this IT company has zoomed 248% in 26 days

Shares of Brightcom Group continued their northward movemen and were locked in the 5 per cent upper circuit band for the 10th straight day at Rs 44.35 on the BSE on Tuesday, in an otherwise weak market. Till 12:10 pm, a combined 631,455 equity shares had changed hands and there were pending buy orders for 4.77 million shares on the NSE and BSE, the exchange data shows. READ MORE

12:30 PM

A close below 15,620 can push Nifty to 15,500 level: Gaurav Garg, CapitalVia

We witnessed continuation in correction in the market and not being able to maintain the crucial support zone of 15620-15650. If the market closes below the level of 15620, we can witness the market correction till the level of 15500.

12:12 PM

Mastek hits new high on healthy June quarter results

Shares of Mastek rose 4 per cent to hit a new high of Rs 2,600 on the BSE in Tuesday's intra-day trade as the firm reported a healthy set of June quarter (Q1FY22) numbers. The company’s dollar revenues increased 6.5 per cent quarter-on-quarter (QoQ) to $70.2 million. In constant currency terms, revenue grew 4.3 per cent. Rupee revenue increased 6.9 per cent QoQ to Rs 516.5 crore. READ MORE

11:49 AM

Q1 Results :: Shyam Metalics and Energy

> Consolidated PAT at Rs 458 crore vs Rs 80 crore YoY

 

> Consolidated Revenue at Rs 2,465 crore vs Rs 912 crore YoY

 

11:44 AM

MARKET CHECK :: Nifty FMCG only sector in the green