MARKET WRAP: Sensex slips 141 pts, Nifty ends at 11,126; pharma stks bleed

All that happened in markets today.

1:27 PM

NEWS ALERT | ‘Reliance Mutual Fund’ renamed ‘Nippon India Mutual Fund’: BSE Filing

1:16 PM

Info Edge surges 13% in 2 days on Zomato's fund-raising plan report

Shares of Info Edge (India) were up 6 per cent at Rs 2,398 on the BSE on Monday, surging 13 per cent in the past two trading days after a media report suggested that Zomato was planning to raise $600 million (approx. Rs 4,200 crore). Info Edge holds a 26.38 per cent stake in Zomato Media Private Limited (Zomato).
 

"Online food delivery and restaurant discovery platform Zomato is finalising a fresh $600 million round of fundraising likely to be led by existing Chinese investor, Ant Financial," The Economic Times reported on Friday, October 4, quoting two people in the know. READ MORE

1:04 PM

With Sensex down over 3% since Sep 23, banking crisis may prevent bull run

Stock bulls betting on a second rally from India’s landmark corporate tax cut are having their faith tested by a shadow banking crisis.

 

The Sensex index has fallen more than 3 per cent since reaching a two-month high on Sept. 23. That has erased almost half of the surge sparked by the Sept. 20 announcement of a landmark corporate tax cut, as debt concerns emerge at lenders including Indiabulls Housing Finance Ltd. and a co-operative bank. READ MORE

12:51 PM

PSUs get booted out of top 10 market-cap club; analysts eye divestment

India’s largest bank by assets, State Bank of India (SBI) and the sole stock to hang on to this elite list was evicted last week, with its market-cap out falling below that of Bajaj Finance. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever, HDFC, Infosys, ITC, Kotak Mahindra Bank and ICICI Bank are now among the top 10 companies with the highest market-cap. READ MORE  

 

12:40 PM

YES Bank extends gains

12:28 PM

Investors expect more policy measures: Citi India's Abhinav Khanna

Global investors have been keenly watching the policy measures being unveiled in India over the past few weeks. Abhinav Khanna, head of equity at Citi India, tells Puneet Wadhwa that he expects emerging markets (EMs), and India in particular, to see higher allocation by foreign investors over the next 12 months. READ FULL INTERVIEW HERE

Abhinav Khanna, head of equity at Citi India

12:19 PM

Index Contributors at this hour

12:08 PM

Most banking stocks gain; Nifty Bank rallies nearly 400 pts

12:08 PM

Monetary policy: Here's how low interest rates can go after 5 cuts in a row

The Monetary Policy Committee can possibly cut rates by another 40-65 basis points, which will take the benchmark repurchase rate below the 4.75 per cent level seen during the global financial crisis, according to economists, including Anand Rathi Financial Services Ltd.s’ Sujan Hajra. So entrenched is India’s growth slowdown that it may require the rate to be cut to as low as 4.5 per cent for any meaningful impact. READ MORE

RBI Governor Shaktikanta Das

12:04 PM

MARKET WATCH | Top losers on the BSE at present

11:55 AM

Geojit Financial Services on Axis Bank

The bank’s resilient growth trajectory along with the focus on asset quality metrics, strengthening of balance sheet and healthy margins will be the key going forward. Hence, we retain our HOLD rating on the stock with an upward revised target price of Rs 717 based on 2.1x FY21E BVPS (book value of equity per share).

11:47 AM

Not just 5G spectrum, even 700 MHz band auction may find few takers

Forget 5G spectrum. Even the premium 700 megahertz (MHz) band may find few takers in the upcoming spectrum auctions since the network equipment and handset compatibility with the premium band are not in place, not to mention the highly leveraged companies shying away from further investments. READ MORE HERE

11:38 AM

BUZZING STOCK | Aurobondo Pharma plunges over 7%

11:30 AM

FPIs pull out Rs 3,000 crore from equities in 3 trading sessions of October

Foreign portfolio investors have offloaded equities worth around Rs 3,000 crore in just three trading sessions of October amid fears of global recession and trade war.

 

This follows a net investment of around Rs 7,850 crore by foreign portfolio investors (FPI) into equities in September.

 

Market experts, however, believe that FPI inflows are expected to pick up after the rate cut by the Reserve Bank of India (RBI) and several decisions taken by the capital markets regulator Securities and Exchange Board of India (Sebi). READ MORE

11:18 AM

MARKET CHECK | Top gainers on the BSE at present