Sensex ends above 59K, up 418 points; Nifty tops 17,600; ITC rallies 7%

RIL, ITC and bank stocks contributed to the gains on benchmarks while metals and IT names languished

11:06 AM

Capital markets share in fund raising in India nowhere close to than in developed markets: Ajay Tyagi

>> Capital markets right at centre of financial sector

10:51 AM

Relief rally in telcos to continue; tech charts signal 25% upside in Vi

While most brokerages have given a thumbs up to the development and suggest the provisions give some breathing space to Vodafone Idea (VI) – at least for four years – Bharti and Reliance Jio, too, stand to gain in case VI is unable to retain customers, improve connectivity and invest in ramping up the 5G network infrastructure in the long run. READ MORE

10:51 AM

Fitch revises Shriram Transport's long-term issuer rating outlook to Stable from Negative

>> Fitch affirms the company's rating at 'BB'

10:45 AM

Nifty Media top sectoral loser; falls 1.6% in trade

>> Dish TV, ZEEL top drags

10:38 AM

AGR deferment has resuscitated the idea of a three-player market: Analysts

While most brokerages have given a thumbs up to the development and suggest the provisions give some breathing space to Vodafone Idea (VI) – at least for four years – Bharti and Reliance Jio, too, stand to gain in case VI is unable to retain customers, improve connectivity and invest in ramping up the 5G network infrastructure in the long run. READ MORE

10:30 AM

ITC surges 8%, hits seven-month high; inches towards 52-week high

The counter has seen a significant trading activity, with over five-fold jump in trading volume on the BSE. A combined 72.1 million equity shares changed hands on the NSE and BSE till 10:05 am. In comparison, the S&P BSE Sensex was up 0.09 per cent at 58,775 points. ITC is the biggest cigarettes & second largest fast moving consumer goods (FMCG) comp READ MORE

10:21 AM

Auto PLI scheme focuses on EVs; Tata Motors, Bajaj Auto to gain: Analysts

The government’s Rs 26,000-crore PLI (Production Linked Incentive) scheme will lay a strong foundation for rapid adoption of electric vehicles (EVs) in India, believe analysts. The move, they say, will give a fillip to two-wheeler manufacturers while incumbents will have to step up. READ MORE

10:18 AM

Mahindra Finance announces entry into vehicle leasing and subscription business under ‘Quiklyz’ brand

>> 'Quiklyz' to cater to both individual and corporate consumers 
 

>> 'Quiklyz' to utilize Mahindra Finance ecosystem to reach out to consumers, pan-India

 

10:13 AM

ALERT :: FM Nirmala Sitharaman to address media at 5 PM today

 

10:10 AM

MARKET VIEW | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The clear message from yesterday's package for telecom industry and PLI scheme for autos is that the government is on fast-forward mode as far as reforms are concerned. This reform initiatives justify the market's confidence in India's potential growth and earnings outperformance. The bold reforms in India's two crucial sectors have the potential to add to India's GDP growth in the coming years.The timing of the PLI scheme for autos has to be seen in the context of investment leaving China due to regulatory crackdown. India is firmly on the road to become part of the global supply chains for auto industry. The exuberance in the market is partly justified by the bold reform initiatives. The over confidence of the bulls, however, emanates from the lack of any moves on the horizon that will sharply reduce liquidity in the market. 

10:04 AM

Adani Transmission up after getting LoI to acquire MP Power Transmission Package-II for Rs 1,200 crore

>> It won the project through Tariff-Based Competitive Bidding (TBCB) process and received the letter of intent on Tuesday
 

>> The company will build, own, operate and maintain the transmission project in Madhya Pradesh for a period of 35 years

 

9:59 AM

JSW Energy up nearly 1% in trade

>> JSW Renew Energy Two Limited, a project SPV formed by JSW Future Energy (100 percent subsidiary of JSW Energy) has signed Power Purchase Agreements with Solar Energy Corporation of India (SECI) for the cumulative contracted capacity of 450 MW awarded against tariff-based competitive bid invited by SECI

9:52 AM

Nifty FMCG surges 2% in early trade led by ITC

9:47 AM

BUZZING :: ITC at highest level since March 23

>> Stock gains most since Feb 4

9:44 AM

Hindustan Copper shares fall 5% in first hour of trade

>> The government will sell 5 per cent of its stake in state-owned Hindustan Copper through an offer for sale this week

>> The OFS will take place on Thursday for non-retail investors only and on Friday for retail investors and non-retail investors who choose to carry forward their un-allotted bids