Sensex drops 274 pts, Nifty ends below 15,750; DRL sinks 10%, Axis Bank 3%

3:39 PM

Sectoral trends on the NSE :: Metal, PSU Bank stocks hold gains amid broad-based selloff

3:38 PM

Sensex Heatmap at Close

Top gainers: Tata Steel, Bajaj Finserv, SBI

Top losers: Dr Reddy's Labs, Axis Bank, Sun Pharma

3:33 PM

CLOSING BELL

The BSE Sensex and the NSE's Nifty50 tanked 273.5 points and 78 points to end at 52,579 and 15,746 levels, respectively.

In the broader markets, mid-cap stocks faced a severe blow with the BSE MidCap index erasing 0.67 per cent. The BSE SmallCap index, on the other hand, was down 0.11 per cent.

 

3:29 PM

NEWS ALERT :: Dr Reddy's Labs commences investigation into a whistle blower complaint

The Company has commenced a detailed investigation into an anonymous complaint. The complaint alleges that healthcare professionals in Ukraine and potentially in other countries were provided with improper payments by or on behalf of the Company in violation of U.S. anti-corruption laws, specifically the U.S. Foreign Corrupt Practices Act.

A U.S. law firm is conducting the investigation at the instruction of a committee of the Company's Board of Directors. The investigation is ongoing. The Company has disclosed the matter to the U.S. Department of Justice, Securities and Exchange Commission and Securities Exchange Board of India, and on 6 July 2021 the Company received a subpoena ti-om the SEC for the production of documents pertaining to certain ClS geographies, and the Company is in the process of responding to the same.

While the matter may result in government enforcement actions against the Company in the United States and/or foreign jurisdictions, which could lead to civil and criminal sanctions under relevant laws, the probability of such action and the outcome are not reasonably ascertainable at this time.

Source: BSE filing

3:26 PM

Near term headwinds for JLR due to chip shortage to weigh on Tata Motors

What would weigh on the stock, which was down a per cent in trading on Tuesday, is the near term outlook for JLR. The company indicated a 50 per cent cut in production for the September quarter (Q2FY22) due to the shortage of semiconductors. The management has guided for a loss at the operating profit level (EBIT) and negative free cash flows or FCF (2 billion pounds) in the first half of FY22 due to production issues. READ MORE

3:14 PM

Nifty Pharma index slips 5%, records sharpest intra-day fall in 7 months

Alembic Pharma (Rs 805.50) and Dr Reddy’s Laboratories (Rs 4,790) have plunged 12 per cent and 11 per cent, respectively in intra-day deals. Sun Pharma Advanced Research (SPARC), Lupin, Glenmark Pharmaceuticals, Lincoln Pharmaceuticals, Wockhardt and Panacea Biotech were down between 5 per cent and 8 per cent. Aurobindo Pharma, Cipla and Divis Laboratories were down 4 per cent each. READ MORE

3:04 PM

Sebi's new skin-in-the-game framework for MFs likely to stretch AMCs

The Rs 33-trillion domestic mutual fund (MF) industry will be required to make thousands of crores of investments in its own schemes to meet the Securities and Exchange Board of India's (Sebi’s) new skin-in-the-game framework approved by its board last month. Sebi’s expert group had proposed an investment between 0.03 per cent and 0.25 per cent. READ MORE

2:46 PM

Corporate Action :: APL Apollo Tubes to consider issue of bonus shares

>> Co says: The meeting of the Board of Directors of the Company is scheduled on 06/08/2021, inter alia, to consider and approve Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter ended 30th June 2021; and a proposal for issue of bonus shares on the equity shares of the Company.

2:35 PM

Adani Ports raises $750 mn overseas via long-term bonds in two tranches

Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday said it has raised $750 million overseas via unsecured bonds.

 

In an exchange filing, the Gautam Adani-led company informed that the coupon rates for the 20-year bonds and 10.5-year tranche were fixed at 5 per cent and 3.8 per cent respectively. READ MORE
 

2:23 PM

June Quarter Results :: Dixon Technologies

>> PAT: Rs 18 cro vs Rs 1.6 cr YoY

>> Revenue: Rs 1,867 cr vs Rd 517 cr YoY

>> Ebitda: Rs 47.9 cr vs Rs 16.9 cr YoY

>> Ebitda margin: 2.6% vs 3.3% YoY

2:15 PM

DLF's Q1 sales bookings jump nearly 7-fold to Rs 1,014 cr despite Covid-19

Realty major DLF Ltd's sales bookings jumped nearly 7-fold year-on-year to Rs 1,014 crore during the April-June quarter of this fiscal, on strong demand for its independent floors and luxury homes in Gurugram.

 

The company's sales booking stood at Rs 152 crore in the April-June quarter of the 2020-21 fiscal year because of the nationwide lockdown to control the COVID pandemic. READ MORE

2:02 PM

Asian stock markets decline to seven-month low amid China jitters

Asia's stocks fell to fresh seven-month troughs on Tuesday, led by a third straight session of heavy selling of Chinese internet giants, while bond and currency markets clung to tight ranges ahead of the Federal Reserve policy meeting. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.97% to its lowest level since December, having slid 2.45% the previous day. READ MORE

2:01 PM

IndiGo trades weaker ahead of Q1 result

1:47 PM

Sensex recovers from day's low

1:32 PM

Inox Leisure zooms 15% on Amazon India's stake buy buzz

Shares of Inox Leisure soared 15 per cent to Rs 347.50 on the BSE in the intra-day trade on Tuesday on reports that Amazon is potentially looking to buy stake in the Indian film and media business. The stock price of Inox Leisure hit its highest level since January 2021. At 12:56 pm, the stock was trading 6 per cent higher at Rs 320 on the back of an over 10-fold jump in trading volumes. READ MORE