Sensex adds 848 pts, ends at 49,581 on broad-based buying; Nifty Bank up 4%

Eight of the top 10 index contributors included names like HDFC Bank, ICICI Bank, HDFC, SBI, Axis Bank, and Kotak Mahindra Bank

3:08 PM

Second Covid wave will delay earnings recovery of India Inc: Moody's

India's ferocious second wave of coronavirus will delay earnings recovery of India Inc and the sharp rise in infections are likely to disrupt the numbers, ratings agency Moody's has said. However, Moody's sees limited impact of second wave lockdowns on economic activity so far. Moody's feels restrictions on movement and lockdowns in several parts of the country will lead to a weaker consumer sentiment and will hit housing and automobile sales. READ MORE

2:56 PM

MARKET CHECK :: Nifty tops 14,900

2:51 PM

STOCK UPDATE :: Bharti Airtel slips 2% ahead of March quarter results

2:43 PM

Sensex Heatmap | Top gainers & losers as index jumps over 700 points

2:35 PM

Are OMCs shifting to alternate day fuel price revision mechanism?

Oil marketing companies seem to be moving towards a revised fuel price revision mechanism, shifting to the practice of changing petrol and fuel rates every alternate day rather than undertaking changes on a daily basis. In the last few days, pump prices of petrol and diesel have been revised every alternate day but the practice had not helped consumers as even under this system prices have only moved up making the fuel dearer. READ MORE

2:18 PM

COMMODITY VIEW :: Gold bonds

RBI’s latest tranche of the Sovereign Gold Bond(SGB) is starting from today for five days. Issue price for SGB Scheme 2021-22 is fixed at Rs 4,777 per gram, and a discount of Rs 50 per gram, less than the nominal value has been decided for the investors applying online. It is advised to invest in SGB or any other platform available like ETF or Digital gold based on one’s risk appetite.  Broader range on COMEX could be between $1820- 1880 and on the domestic front prices could hover in the range of Rs 47,750- 48,300.

- Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services

2:08 PM

Cheviot Co zooms 20% as firm announces special dividend of Rs 175 per share

Cheviot Company reported an over seven-fold jumped in its net profit at Rs 25.68 crore for the quarter ended March 2021 (Q4FY21) as against Rs 3.50 crore in Q4FY20. Revenue from operations grew 37 per cent year-on-year (YoY) to Rs 156.88 crore from Rs 114.76 crore in the year-ago quarter.

 

Meanwhile, the rating agency Crisil, as part of its annual rating surveillance exercise, reaffirmed the long-term rating at A+/Stable and short term rating as A1+ on various borrowings of the company from banks and financial institutions. READ MORE

1:54 PM

MARKET CHECK

1:45 PM

Crypto exchanges draw attention of regulators over brand promotions

Cryptocurrency exchanges, which are into brand endorsements in the midst of an uncertain future for the industry, have drawn the attention of regulators and tax authorities. According to regulatory sources, the brand promotion could mislead retail investors as the legality of cryptocurrency itself is under the scrutiny of the central government. “These exchanges are self-regulated and do not come under any regulator or authority. READ MORE

1:34 PM

Four initial public offerings to raise Rs 4,000 crore in a few weeks

It is going to be a busy season again for the initial public offering (IPO) market. At least four deals worth a cumulative Rs 4,000 crore is expected to hit the market over the next 3-5 weeks, said investment banking sources.

 

These include companies that had earlier deferred their fundraising plans. Shyam Metalics, Dodla Dairy, Krishna Institute of Medical Sciences (KIMS) Hospitals, and Clean Science and Technology are among the companies planning to tap the market.  READ MORE

1:18 PM

Gokaldas Exports zooms 16%, hits over 3-year high on strong Q4 results

Shares of Gokaldas Exports hit an over three-year high of Rs 122.5 apiece after they rallied 16 per cent in Monday's intra-day trade on the BSE after the company's profit after tax (PAT) jumped three-fold at Rs 16 crore for quarter ended March 2021 (Q4FY21) on the back of strong operational performance. It had posted PAT of Rs 6 crore in Q4FY20. The stock of the textiles company was trading at its highest level since January 2018. READ MORE

1:12 PM

China's factory output slows in April as bottlenecks crimp production

China's factories slowed their output growth in April and retail sales significantly missed expectations as officials warned of new problems affecting the recovery in the world's second-largest economy. While China's exporters are enjoying strong demand, global supply chain bottlenecks and rising raw materials costs have weighed on production, cooling the blistering economic recovery from last year's COVID-19 slump. READ MORE

1:05 PM

Mid-market view | CapitalVia Global Research

On the back of solid gains in heavyweight banking stocks and financial stocks like Bajaj Finserv, Indian equity benchmarks extended their gains in the morning session, with frontline gauges surpassing their critical levels. Sentiments got a boost as the number of coronavirus cases are on the decline in the country. The US market ended higher even after the concerns over the inflation rate. Asian markets were mostly trading in green, following the recovery in the global market. Nifty has traded positively after taking the support near the level of 14,600. If the market sustains the level of 14,800, we can expect the movement till the level of 15,000-15,050 in the coming week.

1:03 PM

March Quarter Results :: Colgate Palmolive declares dividend of Rs 38/sh

>> Ebitda: Rs 413.6 crore

>> Ebitda margin: 32.4%

12:59 PM

Colgate Q4 results

>> Revenue at Rs 1275.01 crore vs Rs 1062.35 crore YoY

 

>> PAT at Rs 314.66 crore vs Rs 204.15 crore YoY