MARKET WRAP: Benchmarks end flat, Sensex up 42 pts; realty, IT stocks slip
All that happened in the markets today
1:51 PM
Nifty sectoral indices at this hour
1:50 PM
BROKERAGE RADAR | Anand Rathi Research on Consumer Durables
As we roll over our earnings to FY22, Amber remains our top pick in air-conditioning with a target price of Rs 1,631 (earlier Rs 1,248 based on a sum-of-parts model factoring inFY21e). We maintain our Buy rating on Blue Star with a target price of Rs 1,147(earlier Rs 879 based on FY21e earnings). Also,we retain our Hold recommendation on Voltas, with a target price of Rs 760, as the recent run-up in the stock provides limited potential.
1:46 PM
Top losers on BSE at this hour
1:46 PM
Rupee check
1:17 PM
SC orders interim stay on NCLAT order on Orchid Pharma resolution process
The Supreme Court has ordered an interim stay on the National Company Law Appellate Tribunal’s (NCLAT’s) ruling on the resolution of debt-ridden Orchid Pharma.
The NCLAT in November set aside the National Company Law Tribunal’s (NCLT’s) approval of a resolution plan by Gurgaon-based Dhanuka Laboratories for Orchid and remitted the matter to the NCLT, observing that it quoted an amount below the liquidation value and could not be approved. READ MORE
1:15 PM
Contribution to Sensex's gain today
1:08 PM
NEWS ALERT | Bank of Baroda to sell up to 1.04 crore equity shares of UTI AMC via IPO: BSE filing
-- Says, Board of BoB in the proposed initial public offering of equity shares of UTI Asset Management Company Limited by way of an offer for sale of up to 1,04,59,949 Equity Shares held by it, subject to the approval of the Securities and Exchange Board of India (SEBI), and of any other regulatory authority.
1:04 PM
NEWS ALERT | Update in Chanda Kocchar vs ICICI Bank case
-- Bombay HC allows Kochhar to add RBI as party to wrongful termination case.
-- ICICI Bank has challenged its maintainability, saying dispute over termination & clawback is contractual and can be resolved through alternative remedies
-- ICICI Bank says action against Chanda Kochhar taken on the basis on Justice Srikrishna Committee report
(As reported by CNBC TV18)
-- ICICI Bank says action against Chanda Kochhar taken on the basis on Justice Srikrishna Committee report
(As reported by CNBC TV18)
1:01 PM
Market check | Sharp surge in Sensex
12:49 PM
SBI, PNB: Should you buy PSU banks after RBI kept interest rate unchanged?
NIFTY PSU BANK: The index has broken 2532 level, which is its 100-day moving average (DMA) as per the daily chart. This reflects a minor weakness. Going ahead, if ths 50-DMA, which is placed at 2400 levels gets broken, more selling pressure is expected.
Currently, both the technical parameters - Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) - are trading with negative crossover and indicate weakness. On the higher side, the 200-DMA located at 2,800 will act as a resistance. READ MORE
12:39 PM
Top gainers on BSE at this hour
12:30 PM
SPARC zooms 6% after US-based firm withdraws patent infringement complaint
Sun Pharma Advanced Research Company (SPARC) jumped 5.6 per cent to Rs 162.40 on the BSE on Monday after the company said Abraxis Biosciences LLC has dismissed the patent infringement complaint filed against it regarding the company's New Drug Application (NDA) for PICS (Paclitaxel Injection Concentrate for Suspension). READ MORE
12:20 PM
BROKERAGE RADAR | Edelweiss Securities on L&T
We cut FY21/22E EPS by 4% to factor in near-term concerns on order inflows. Despite the infra order weakness, strong hydrocarbon order backlog will support growth until FY21, in our view. We maintain Buy with a revised SOTP-based TP of Rs1,559 (Rs1,726 earlier) and UW stance in sector EAP.
12:18 PM
NEWS ALERT | NABARD, HUDCO, NHAI, PFC, REC, PGCIL, IRFC, NHPC, NTPC to borrow via Bharat Bond ETF: CNBC TV18
-- Bharat Bond ETF offer size of Rs 7,000 cr with likely greenshoe of Rs 8,000 cr
-- Bharat Bond ETF wil invest in 3-year and 10-year govt securities
12:13 PM
NEWS ALERT | Bharat bond ETF opens from Dec 12-20
Topics : Markets MARKET WRAP
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First Published: Dec 09 2019 | 7:45 AM IST