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

12:52 PM

MARCH QUARTER RESULTS :: FEDERAL BANK

>> PAT at Rs 477.8 crore vs Rs 301.2 crore YoY

 

>> Gross NPA at 3.41% vs 2.71% QoQ

 

>> Net NPA at 1.19% vs 0.6% QoQ

12:51 PM

Cyclone Taukte :: Gujarat suspends vaccination drive

>> As per TV reports, the state has suspended the vaccination drive for two days (today and tomorrow) amid cyclone warning

12:47 PM

From Sageone to Anvil Wealth, most PMS schemes beat Nifty in April

April was a good month for PMS schemes, with 198 of the 232 schemes under consideration outperforming the Nifty50. The schemes returned 2.8% on average, better than the -0.4% given by the benchmark. Better-performing strategies in April included Kotak’s Pharma fund (13.4%), Sageone’s Small and Microcap fund (12.7%), and Anvil Wealth Management’s Long Holding Strategy (12.4%), the data from PMS Bazaar showed. READ MORE

12:38 PM

MARKET CHECK :: Sensex extends gains, rises 600 points

12:37 PM

MARKET UPDATE:: HDFC twins, ICICI Bank, and SBI among top contributors to Sensex's over 600 point gain today

12:29 PM

Index business grows as investors flock to passive funds for returns

The business of creating and maintaining a stock market and other indices is growing as interest in passive funds grows. Passive funds mimic returns of an underlying index. They have become popular as active fund managers who look to provide index-beating returns increasingly fail to deliver. An analysis of index business numbers shows a double-digit growth over the last two years. READ MORE

12:16 PM

Stocks that hit 52-week high on BSE today

Company	PRICE(rs)	52 WK HIGH	CHG(%)
Balkrishna Inds	2073.55	2084.00	9.39
Birla Corpn.	1154.30	1176.55	10.04
Dalmia BharatLtd	1735.00	1745.05	0.47
Dhanuka Agritech	924.00	949.50	3.99
Galaxy Surfact.	3034.00	3080.00	4.72

12:06 PM

NEWS ALERT

>> April WPI inflation at 10.49% vs 7.39% MoM

12:00 PM

SBI shares surge 5%, hit 8-week high on heavy volumes

Shares of State Bank of India (SBI), on Monday, hit an eight-week high of Rs 377.30 after rising 5 per cent on the BSE in intra-day trade on the back of heavy volumes. The state-owned lender's stock was trading at its highest level since March 23, 2021, when it touched 377.7 in intra-day trade. It hit a record high of Rs 426 on February 18, 2021. READ MORE

11:54 AM

L &T Technology, Intel Corp develop AI-based outdoor parking solution

L & T Technology Services Limited, a leading global engineering services company, announced today that it worked with Intel Corporation to develop an outdoor smart parking solution. The solution is powered by the Intel distribution of the OpenVINO Toolkit to run AI inferencing models on Intel Xeon scalable processors and Intel Movidius VPUs. With edge AI capabilities, the solution aims to redefine the outdoor smart parking experience in public areas across the globe. READ MORE

11:44 AM

Bitcoin hits three-month low as Elon Musk drives investors to exit

Bitcoin dropped to a three-month low on Monday as investors sold cryptocurrencies in the wake of Tesla boss Elon Musk's hinting over the weekend that the carmaker is considering or may have already sold some of its bitcoin holdings. Musk has boosted crypto markets with his enthusiasm for the asset class, but has lately roiled trade by appearing to cool on bitcoin in favour of its one-time parody, dogecoin. The gyrations are beginning to spook even steeled traders. READ MORE

11:32 AM

BUZZING STOCK:: SBI at day's high

11:20 AM

When to sell a stock? The seven golden rules of investing

The year began amidst a raging bull market. Global equities have made up all the post-pandemic losses and are up nearly 85 per cent since their March 2020 low. Yet, our data shows many investors have missed the bull run altogether or are significantly underinvested, waiting for the ‘right’ opportunity to re-enter. Those who did stay invested through the volatility or re-entered the market in 2020 have a slightly different problem - ‘Should I sell?’. READ MORE

 

11:10 AM

Balkrishna Industries surges 9%, hits record high on robust Q4 results

Shares of Balkrishna Industries surged 9 per cent to hit a record high of Rs 2,062 on the BSE in intra-day trade on Monday after the company reported robust March quarter (Q4FY21) numbers. The stock of the auto tyres & rubber products maker surpassed its previous high of Rs 1,965.90, logged on May 12, 2021. The company’s standalone revenue came in at Rs 1,746 crore, up 29 per cent year on year (YoY), on the back of healthy volume growth. The company achieved highest ever quarterly sales volume of 68,002 MT, up 17 per cent YoY. READ MORE

11:00 AM

Cipla dips 4% on lower than expected March quarter earnings

Shares of Cipla were down 4 per cent at Rs 870 on the BSE in intra-day trade on Monday after the company reported lower than expected March quarter earnings (Q4FY21), with total revenue from operations growing 5 per cent to Rs 4,606 crore as against Rs 4,376 crore in the year-ago quarter. The company’s performance in Q4FY21 was weighed down by moderate year-on-year (YoY) growth in India Domestic Formulation (DF)/South Africa and a decline in API sales for the quarter. READ MORE