Sensex ends lacklustre session 29 points down; broader indices outperform

Top Nifty gainers included Kotak Mahindra Bank, Powergrid, Grasim and BPCL, among others

12:31 PM

Nifty IT remains top sectoral loser in trade

12:07 PM

IPO-bound OYO increases authorised share capital to Rs 901 crore

Oravel Stays Pvt Ltd, that operates hospitality firm OYO, has approved an increase in the authorised share capital of the company from Rs 1.17 crore to Rs 901 crore, according to a regulatory filing by the hospitality firm. The development comes ahead of proposed initial public offering (IPO) by OYO, for which a draft red herring prospectus (DRHP) is likely to be filed in the next few months, sources in know of the matter told PTI. READ MORE

 

12:03 PM

UPDATE :: Civil Aviation minister Jyotiraditya Scindia to hold press conference on Thursday

>> Minister to hold PC on Maintenance Repair and Operations (MRO's), Flying Training Organisation (FTO) and 100 days target at 3 PM

11:43 AM

Cabinet to consider closure of BEML’s subsidiary Vignyan Industries today

Source: CNBC Awaaz

11:39 AM

NIFTY PSU BANK gains over 1%, biggest sectoral performer

11:26 AM

STOCK PICKS :: Angel Broking sees upside in these stocks

11:16 AM

Zen Tech hits 6th straight upper circuit, zooms 101% so far this month

Shares of Zen Technologies were locked at the upper circuit for the sixth straight trading session, and the stock price has doubled in this period after securing a new order from the Indian Air Force (IAF). In the last five trading sessions, the stock had hit the 10% upper circuit limit, the exchanges, however, have revised the circuit filter to 5 per cent with effect from today. The stock of the defence is now trading at its life-time high. READ MORE

11:01 AM

At 39, India sees highest record market closings globally in 2021

The benchmark Sensex this week recorded its 39th record close in 2021, most among global markets, the data analysed by Business Standard shows. The US’ Dow Jones is at the second spot with 35 record closes for the year so far, followed by Germany’s DAX (31) and Taiwan’s Taiex (28). The Sensex looked set to log its 40th record high on Tuesday but it ended with marginal loss (down 17.43 points for 0.030 per cent at 58,279.48). With a year-to-date gain of 22 per cent, India is currently the best-performing major market globally. READ MORE

10:45 AM

NEWS ALERT :: Civil Aviation Minister Jyotiraditya Scindia's press conference to be rescheduled

 

10:30 AM

Info Edge hits record high on healthy outlook & likely Policybazaar IPO

Shares of Info Edge (India) hit a record high of Rs 6,566 as they rallied 6 per cent on the BSE in intra-day trade on Wednesday on a strong growth outlook. The stock surpassed its previous high of Rs 6,299.80 touched on September 2, 2021. The company is primarily engaged in providing online and offline services through its online portal Naukri.com, Jeevansathi.com, 99 acres.com, shiksha.com and offline portal Quadrangle.com. READ MORE

 

10:15 AM

Bharti Airtel at record high; Vodafone Idea gains 7% ahead of Cabinet meet

Shares of telecom services provider caught investor fancy on Wednesday with Bharti Airtel hitting a new high at Rs 684, up 2 per cent, while Vodafone Idea jumped 7 per cent to Rs 8.90 on the BSE in the intra-day trade, ahead of the Cabinet meet scheduled later in the day. According to reports, the government may discuss a relief package for stressed sector.   READ MORE

 

10:10 AM

NEWS ALERT :: Ramkrishna Forgings wins first export order worth Rs 130 crore

Click here for details

9:52 AM

Sebi asks exchanges to move to T+1 settlement cycle on an optional basis

The Securities and Exchange Board of India (Sebi) has introduced an optional T+1 settlement cycle for the markets. T+1 means that settlements will have to be cleared within one day of the actual transactions taking place. The regulator has put the onus on the stock exchanges to decide whether they want to opt for the shorter settlement cycle for any of the listed scrips. This can be done after giving a one-month prior notice to all stakeholders.  READ MORE

 

9:44 AM

MARKET VIEW | Book some profits & increase cash component

Stock market experts are a confused lot now. By all matrixes of valuations markets are richly valued, even over valued, and ripe for a correction. But unmindful of valuation concerns, the market driven by liquidity and retail investor exuberance, is setting record after records. India is one of the best performing markets in the world. Consequently valuations have become excessive. MSCI India is at 80 percent premium to MSCI EM Index. In Warren Buffet's famous words, "this is the time to be fearful" because greed is driving the market.

 

Corrections are imminent but we dont know when that will happen. The spike in the 10-year US bond yield to around 1.36% is an indication that inflation may not be transitory as the Fed assumes. Traders may consider lightning positions and investors can book some profits and increase cash component in the portfolio. There are rumors of relief to the telecom industry. This may impart resilience to telecom stocks.

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

9:38 AM

Maruti Suzuki slips 1% as August production volumes take a hit

>> August production was down 7.9 per cent at 1.14 lakh units against 1.24 lakh units (YoY). Production volume an August was affected due to electronic components shortage.