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

11:34 AM

Ola's entry in e-two wheelers to shake up world's largest 2-wheeler market

Entry of SoftBank-backed Ola into the e-scooter segment is all set to charge up the overall market and may fast track the adoption of battery operated vehicles. However, for manufacturers of internal combustion engine (ICE)-powered two-wheelers like Bajaj Auto, Hero MotoCorp and TVS Motor, who also have aggressive plans to tap into the segment, it’s going to be a double whammy. They will not only have to match the aggressive pricing of Ola’s upcoming scooter and incur a loss at each unit of the e-scooter sold, there will also be an opportunity loss as it will weigh on the volumes of the regular ICE models, said analysts. READ MORE

11:22 AM

PE/VC investments decline 22% to $5.4 bn in June, up 45% in H1: Report

Indian PE/VC investment activity grew at a record-setting pace throughout H121 and the deal pipeline indicates that this pace is only going to intensify as 2021 progresses. Both H121 and second quarter notched up lifetime highs for pure-play PE/VC investments at USD 21.9 billion and USD 14.1 billion respectively, EY's partner Vivek Soni said. READ MORE
 

11:12 AM

MARKET CHECK :: Nifty tests support level of 15,600

10:54 AM

HCL Technologies dips 2% as company reports lower-than-expected Q1 results

Excluding the impact of a one-time bonus in the March quarter (Q4FY21), EBIT (earnings before interest and tax) margin was down 80 basis points (bps) quarter-on-quarter (QoQ) due to Covid-related expenses of 90 bps. However, the management reiterated its double-digit dollar revenue growth guidance and EBIT margin band of 19-21 per cent for FY22. READ MORE

10:36 AM

Q1 Review :: Retail hit to offset RIL's crude price gains, say analysts

Analysts expect the improvement in energy margins on the back of a pickup in global demand to support the consolidated performance of Reliance Industries (RIL) in the first quarter (Q1) of financial year 2021-22 (FY22). However, the gains are also expected to be offset by the challenges in the retail and petrochemicals businesses, and a flattish show in telecom. READ MORE

10:14 AM

ACC surges 7%, hits new high on strong operational performance in Q2

Shares of ACC hit a new high of Rs 2,299 as they rallied 7 per cent on the BSE in intra-day trade on Tuesday after the company reported strong operational performance for the second quarter ended June 2021 (Q2CY21). The company’s Ebitda (earnings before interest, taxes, depreciation, and amortization) margins expanded 233 basis points (bps) quarter-on-quarter (QoQ) to 22.4 per cent due to higher realisations. On a year-on-year (YoY) basis, Ebitda margins improved by 200 bps from 20.8 per cent in Q1CY20. READ MORE

9:56 AM

Sensex drops 300 points, hits day's low

9:52 AM

HDFC Bank's weak Q1 performance may keep Bank Nifty under pressure

The Q1 results of HDFC Bank disappointed and sent tremors through the private banking space. HDFC Bank, among the most highly-valued institutions in the world, recorded its lowest growth in Net Interest Income (NII) in at least ten years. It also saw rising non performing assets (NPAs), and higher write offs, and in a show of caution, boosted provisioning and contingency reserves. READ MORE

9:37 AM

MARKET VIEW :: This correction is good for the markets

The 725 points cut in the Dow yesterday, the worst in 2021, is a reflection of the risk-off in markets globally. Different reasons are attributed to this correction: The rising Covid cases in the US and UK due to the delta variant, inflation concerns, and concerns about growth coming below consensus expectations. It may be all these. The fact is that at high valuations when investors are sitting on big profits, any fear can trigger profit booking and corrections. This correction is good for the markets. In the absence of corrections, the excessive valuations will render the inevitable crash very severe and painful. A major correction is unlikely in India since we have already corrected a bit from the recent record high. Investors may opt for the safety of performing sectors with earnings visibility like IT, pharma, metals, cement, capital goods, and large financials.

-- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:36 AM

BUZZING :: Clean Science climbs 6%

> The company listed on bourses on Monday

9:34 AM

Four of five Adani Group stocks trade lower

9:33 AM

Asian Paints gains 1% ahead of Q1 numbers

9:32 AM

City Union Bank dips 1% even as board approves fund raising

> The board approved raising capital through QIP of Rs 500 crore.

9:30 AM

Zen Technologies rallies over 7% on order win

> The company bagged export order of Rs 120 crore. The order will be carried out in roughly a year, the company said.

9:29 AM

Jindal Stainless ekes out gains on signing MoU with Tata Steel arm

> Tata Steel Mining, an arm of Tata Steel, and Jindal Stainless Ltd signed an MoU to jointly unearth chrome ore locked up in the boundary between their mines located at Sukinda in Odisha's Jajpur district.