Sensex gyrates 294 pts, ends 19 pts down; Nifty holds 15,900; IT, banks dip

The mid- and small-cap indices meanwhile, outperformed and ended over 0.4 per cent higher each

3:23 PM

Heatmap :: BSE SmallCap index

3:14 PM

Oil prices decline, heading for biggest weekly drop since month of May

Oil prices fell on Friday, heading for their biggest weekly drop since at least May as expectations of more supplies spooked investors, with OPEC likely to add output to meet a potential revival in demand as more countries recover from the pandemic. Brent crude for September was down 37 cents at $73.10 a barrel by 0650 GMT, heading for a 3.2% fall this week after two days of heavy declines. This will mark Brent's biggest weekly drop since May. READ MORE

2:54 PM

IRCTC rallies 20% in July so far amid expectations of improved outlook

The stock of the travel support services company has rallied 20 per cent so far this month after the company announced resumption of two Tejas Express trains from August 7. On July 9, the company said that the Lucknow-New Delhi and Ahmadabad-Mumbai Tejas Express train service will resume from August 7 for four days a week. In comparison, the S&P BSE Sensex was up 1 per cent in past 12 trading days of July month. In past three months, the scrip has surged 50 per cent, as against a 9 per cent gain in the benchmark index. READ MORE

2:34 PM

HCL Tech Q1 preview: Analysts see 6-11% YoY PAT growth, strong deal win

HCL Technologies' June quarter (Q1) performance is likely to be impacted due to supply-side challenges amid the second Covid-19 wave, with revenue expected to grow between 1.6 per cent and 2 per cent in constant currency (CC) terms. The net profit could rise in the range of 6-11 per cent year-on-year on a 14 per cent growth in revenue (rupee terms). READ MORE

2:13 PM

BUZZING :: IRCTC jumps 7% in a weak market

2:02 PM

Zomato IPO update :: Issue subscribed 17x so far

1:52 PM

Paytm set to break into top 10 most-valued financial stocks in India

According to investment banking sources, the company is looking at a valuation of between $20 billion and $25 billion in the initial public offering (IPO).

 

One97 Communications, parent company of Paytm, on Friday filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India. The company is looking to raise Rs 8,300 crore by issuing fresh shares in its maiden stock market offering. READ MORE

1:33 PM

MARKET VIEW :: Likhita Chepa, Senior Research Analyst, CapitalVia Global Research

We witnessed some lackluster movement in the market and an attempt to hold the support level around the Nifty 50 Index level of 15900 While sustaining above 15900 is the key factor from a short-term perspective, our research suggests maintaining above this level is important for the market to gain momentum and extend the rally until 16200.

1:27 PM

Datamatics Global Services hits new high after 17 yrs; stk up 43% in 2 days

On Monday, July 12, Datamatics, announced that Aabhas Zaveri has been appointed as Senior Vice President – Sales, Intelligent Automation. Zaveri will lead the business for Datamatics Intelligent Automation products, including TruBot, TruCap+, and TruBI, the company said in a press release. READ MORE

1:10 PM

NEWS ALERT :: JMC Projects secures new orders of Rs 1,624 cr

12:58 PM

Nitin Spinners soars 18% in 3 days as CARE revises rating outlook to stable

In past three months, the stock of textiles company zoomed 126 per cent, as compared to 9 per cent rise in the S&P BSE Sensex, ACE Equity data show. At 11:19 am; it was trading 11 per cent higher at Rs 182 on back of two-fold jump in trading volumes. A combined around 2.1 million shares have changed hands on the NSE and BSE.READ MORE

12:45 PM

Amid IPO frenzy, Reliance plans public listing of retail, O2C businesses

In order to take advantage of the initial public offer (IPO) frenzy in the market, Reliance Industries Limited (RIL) is preparing to launch IPOs of its retail and oil-to-chemicals (O2C) businesses. At least one of the IPOs will hit the market in the current financial year, said a banker close to the development. READ MORE

12:36 PM

MARKET CHECK

12:07 PM

Geojit Financial Services on Tatva Chintan Pharma Chem IPO

At the upper price band of Rs.1,083, TCPCL is available at a P/E of 46x (diluted) which appears to be reasonably priced. We assign a “Subscribe” rating for the issue on a short to long-term basis considering its strong focus on R&D, promising sector outlook, cost control initiatives and longstanding relationship with key customers.
 

11:48 AM

Chart check: Trading strategies for Infosys, Wipro and TCS post Q1 results

For the year, Nifty IT Index has notched a gain of 23 per cent, shows ACE Equity data. The large-cap names from the space, namely TCS (up 36 per cent), Infosys (up 50 per cent) and Wipro (up 50 per cent) too have clocked handsome returns during this period. Following their Q1 results, most analysts remain bullish on these three names. Although, the current price action of these stocks needs breakout to gain further traction, suggest charts. READ MORE