Sensex snaps 3-day winning run, slips 17 pts; Realty index sheds 2%, IT 1%

Investors looked to lock in gains after the recent rally but most dips were bought into, which left indices unchanged at close.

2:36 PM

Cairn accepts $1 bn refund offer, to drop cases against India: CEO

UK-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a USD 1 billion refund resulting from the scrapping of a retrospective tax law. The firm, which gave India its biggest onland oil discovery, termed "bold" the legislation passed last month to cancel a 2012 policy that gave the tax department power to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. READ MORE

2:19 PM

Bank of India ties-up with MAS Financial Services for co-lending

State-owned Bank of India (BOI) on Tuesday said it has entered into a co-lending arrangement with MAS Financial Services for MSME loans. The tie-up comes on the occasion of the bank's 116th Foundation Day. READ MORE

 

1:58 PM

Voltas hits new high, soars 7% on hopes of demand recovery

Shares of Voltas hit a new high at Rs 1,199.95, soaring 7 per cent on the BSE in intra-day trade on Tuesday. The stock of Tata Group company was quoting higher for the eight straight day and has rallied 25 per cent during this period on expectation of demand recovery ahead of the festive season and short summer in West India.  READ MORE

1:45 PM

Ind-Ra retains 'stable' outlook on Indian banking sector in FY22

India Ratings and Research (Ind-Ra) has maintained a stable outlook on the overall banking sector for the rest of FY22, supported by the continuing systemic support. This support has helped manage the system-wide Coronavirus (Covid-19) pandemic linked stress.  READ MORE

 

1:33 PM

LIC IPO could result in job losses, social spending, trade union warns

The mega initial public offering of India’s biggest state-backed insurer could result in job losses and impact the company’s social infrastructure spending plans, according to one of its largest trade unions.  READ MORE

1:29 PM

ALERT :: Healthium Medtech files draft papers with SEBI to raise funds via IPO

>> Healthium Medtech is promoted by Apax Partners

 

Source: news reports

1:16 PM

IRCTC market cap crosses Rs 50,000 crore; stock surges 32% in one month

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) continued their northward journey as the stock rallied another 9 per cent to register a new high at Rs 3,285 in Tuesday's intra-day session.  READ MORE

12:57 PM

CARE Ratings reaffirms IPCA Labs' rating, outlook revised to 'positive' from 'stable'

12:55 PM

5 stocks that can jump up to 25%

Multi Commodity Exchange of India Limited (MCX)
Likely Target: Rs 1,750 and Rs 1,800
Upside Potential: 7% to 10%

After conquering the resistance at Rs 1,650 level in July 2021, the shares of Muti Commodity Exchange of India managed to breakout on the upside. However, selling pressure thereafter forced the stock to retest the consolidation support placed around Rs 1,450 levels. READ MORE

12:48 PM

Edelweiss' IPO fund outperforms benchmarks in bumper year of listings

An Indian fund that invests only in recently listed stocks has outperformed the nation’s benchmark indexes in 2021 despite skipping a majority of the initial public offerings in what’s shaping up to be a record year. The fund run by Edelweiss Management Ltd. has returned 46% this year, according to the firm, beating gains of 24% for the NSE Nifty 50 Index and 22% by the S&P BSE Sensex Index, which still lead the Asia region among country benchmarks. READ MORE

12:24 PM

MARKET CHECK :: Sensex reverses losses, jumps 100 points to trade at day's high

12:15 PM

IRCTC market cap crosses Rs 50,000 crore

12:10 PM

ALERT :: ABB India ties up with Bharat Biotech

ABB drives enhance safety and energy efficiency at Bharat Biotech’s Covaxin manufacturing facility

>> ABB drives play a key role in the clean room infrastructure of Bharat Biotech

>> Inbuilt application functions of ABB’s ACS560 drives help in maintaining the right environmental condition

>> The drives are easy to commission, use and ensure higher energy efficiency

12:01 PM

Tata Communications, Telekom Malaysia collaborate for IP transit services in ASEAN region

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11:52 AM

What to expect from Ami Organics listing?

Ami Organics Limited expect to get a listing on 14th September 2021 and allotment will be received by the investors in a couple of days. As overall IPO got subscribed 64.5 times and retail portion got subscribed by 13.36 times, so it is expected that one investor out of twelve will get the allotment. Ami Organics IPO was priced at Price to Earnings of 35.6 times and EV/EBITDA of 25.7 times at the upper price band of the IPO based on FY2021 numbers. Which is on the higher side, compared to the listed peer group. If we look at the current Grey Market Premium is at ₹145 i.e 23% at the upper price band of the IPO. We suggest short term investors to book profit on listing day if they receive the allotment.

-- Yash Gupta, Equity Research Analyst, Angel Broking