Sensex, Nifty end at fresh closing high; IT, realty stocks charge ahead

HCL Tech (up over 5 per cent), L&T, Tech M, Hindalco, Wipro, UPL, HDFC Bank, and ITC were the top gainers

2:47 PM

Brokerages, securities analysis industry good vehicles to ride bull-run

The securities analysis industry and brokerages and have benefited from the bull-run. Daily trading volumes have doubled, and retail interest has grown, with over 1 million new demat accounts added every month according to ICRA. The equity markets clocked an aggregate turnover of Rs 4,222 trillion between April-December 2020, year-on-year (y-o-y) growth of 66 per cent. Average daily turnovers increased to Rs 22.46 trillion, from Rs 13.89 trillion in April-Dec 2019. READ MORE

2:36 PM

Sequent Scientific up 9% on EUGMP nod for its tablets dosage form in Turkey

With over 120 product registrations, Sequent is the third-largest player in the Turkish ruminant market with a consolidated market share of around 10 per cent, operating through its 100 per cent subsidiaries of Provet and Topkim. The company has already embarked upon significant expansion in Turkey to meet the growing requirements of the local market along with leveraging the sites for European and other strategic markets. READ MORE

2:21 PM

MMTC Shareholding | LIC reduces its stake to 2.98% in Q1FY22 from 3.39% in Q4FY21

2:12 PM

Rupee's wild ride may end as foreign inflows surge: Credit Agricole CIB

After turning from being Asia’s best performer in the first quarter to its worst in April when another wave of Covid-19 infections took hold, the rupee is now likely to trade in tight ranges in the coming quarters, said Dariusz Kowalczyk, the bank’s head of Asia research, ex-Japan. He expects the currency to be at 74 per dollar at year-end, versus Wednesday’s close of 74.59. READ MORE

 

1:51 PM

Emkay Global at over 2-year high on heavy volumes; soars 71% in four weeks

The company’s client base includes marquee foreign institutional investors (FIIs), domestic institutional investors (DIIs), hedge funds, banks, insurance companies, mutual funds, private equity firms, family offices, small and medium-sized enterprises and super high net worth individuals (HNIs). READ MORE

1:22 PM

Sales of sub-Rs 50 lakh homes hit in 2021 as Covid bites: Knight Frank

Sales of homes priced less than Rs 50 lakh took a beating in the first half of 2021 as the country grappled with the Covid pandemic and potential buyers suffered loss of income, suggests the latest market assessment report ‘India Real Estate– Residential, January-June 2021’ by Knight Frank India. READ MORE

12:58 PM

ALERT :: Markets at 1 PM

12:38 PM

Happiest Minds, Route Mobile: How to trade buzzing stocks of the day

The bencharmark indices BSE Sensex and NSE Nifty50 hit a record high of 53,229 and 15,940, respectively in trade today, showing strengthening positive sentiment among investors and traders. So far during the year, both indices have added nearly 14 per cent. Although few shares, in the same period, have seen multi-fold returns. READ MORE

12:22 PM

Nifty IT index hits new high; Wipro, Tech M, Mindtree touches record peaks

Nifty IT index hit a new high of 29,745 in the intra-day trade today, having rallied nearly 5 per cent in the past two trading days. On Wednesday, the index surpassed its previous high of 29,311.55 hit on June 30, 2021 in the intra-day trade. In comparison, the benchmark Nifty 50 index was up 0.77 per cent in the past two trading days. READ MORE

12:06 PM

Wipro Q1 preview: PAT may jump 14-19% YoY; eyes on EBIT margin, guidance

"Deal announcements have been soft and outlook from here in terms of pipeline and investments in setting up large deal team will be key. We expect Wipro to guide for revenue growth of 1-3 per cent QoQ on an organic basis and 4.5-6.5 per cent QoQ including incremental contribution from Capco and contribution from the Ampion acquisition," said Rishit Parikh, an analyst at Nomura. READ MORE

11:47 AM

Zomato IPO update :: Issue subscribed 1.2x so far

11:44 AM

RBI governor warns of downsides to direct financing of govt fiscal deficit

Direct financing or monetisation of the government's fiscal deficit by the central bank has several downsides, Reserve Bank of India Governor Shaktikanta Das said in an interview with newspaper Financial Express published on Thursday. "This (creating new money to finance the deficit) was done away with as part of the economic reforms … and it was further repudiated when the FRBM Act was enacted," Das told the paper. READ MORE

11:28 AM

No longer discounted: Mid- and small-cap IT firms enjoy premium at bourses

The rally in mid- and small-cap stocks has spilled over into the IT sector as well. Second and third-tier IT stocks, which historically traded at a discount to the big five IT companies, are now trading at nearly 25 per cent premium to their large-cap peers. The smaller IT companies have a price-to-earnings (P/E) multiple of nearly 38 times against the big five’s current P/E multiple of around 31x. READ MORE

11:20 AM

KNR Constructions gains 5% as CRISIL revises rating outlook to positive

"The strong execution record along with healthy order book (approximately Rs 11,650 crore as of June 2021) to revenue ratio of 4.5x times is expected to support revenue growth. Operating income reported a healthy growth of 20 per cent in fiscal 2021 despite the lockdowns imposed by the government to curb the spread of the pandemic in the first half of the year. This was supported by the execution of orders from the irrigation segment which is a lesser labour intensive work. Further, operating margin remained at healthy levels of 20 per cent and is expected to sustain in the future as well," the rating agency added. READ MORE

11:04 AM

NEWS ALERT :: Sensex hits record high