Sensex dips 132 pts as RBI cuts FY22 GDP growth; Nifty ends below 15,700

That said, market participants continued to buy stocks in the broader markets after the RBI announced a special, Rs 15,000 crore-liquidity window

2:04 PM

Analysts bet on larger players in travel & tourism space post RBI's support

The Reserve Bank of India (RBI), on Friday, announced a Rs 15,000-crore liquidity window for sectors hit hard by the Covid-19 pandemic, especially in the second wave, including travel, tourism, hotel, aviation, and salons. The move, analysts say, could be the first among the many steps that the central bank may announce. Following the development, shares of hotels, restaurants and its related business companies rallied up to 10 per cent on the BSE in intra-day trade. READ MORE

1:55 PM

Adani Enterprises becomes second-most valuable Adani Group firm

Adani Enterprises has now become the second most valuable company among the Gautam Adani-led Adani Group of companies as the stock hit a new high of Rs 1,694 after rallying 7 per cent on the BSE on Friday in intra-day trade. The stock was trading higher for the fifth straight day and has rallied 30 per cent during the week, as compared to 1.5 per cent rise in the S&P BSE Sensex. READ MORE

1:51 PM

MARKET UPDATE:: Sensex at day's low

1:41 PM

Top losers on BSE at this hour

Company	PRICE(rs)	CHG(%)
Nilkamal Ltd	2346.15	-5.71
SIS	425.65	-3.93
RBL Bank	212.80	-2.70
Crompton Gr. Con	400.75	-2.24
IFB Industries	1124.90	-2.21

1:32 PM

Strong order book, improving cash flows positive for Motherson Sumi

The stock of India’s largest auto component maker shed 7 per cent on Thursday after brokerages downgraded it on higher valuations. A strong March quarter performance had seen the Motherson Sumi scrip jump about 13 per cent on Wednesday but the rally fizzled out.

 

Despite the stock volatility, the fundamentals have seen an improvement with gains including a robust order book, potential for margin gains, improvement in cash flows and debt reduction. READ MORE

1:23 PM

IndiGo to report Q4 results tomorrow; Here's what analysts expect

Centrum Broking

 

Painting a grim picture, the brokerage expects IndiGo’s net loss to widen sequentially to Rs 743.3 crore from Rs 620.1 crore incurred in Q3FY21, mainly on account of 28.3 per cent QoQ rise in fuel prices. On a yearly basis, however, the loss may contract from Rs 870.8 crore reported in the March quarter of FY20 (Q4FY20). READ MORE

1:15 PM

Bharat Forge surges 8%, hits 52-week high post March quarter results

Shares of Bharat Forge moved higher by 8 per cent to Rs 749, also its 52-week high on the BSE in intra-day trade on Friday after the company reported a consolidated profit after tax of Rs 212 crore for the March quarter (Q4FY21), on healthy sales income. The auto ancillary company had posted a loss of Rs 68.6 crore in Q4FY20. The stock had hit a record high of Rs 800 on March 1, 2018. READ MORE

1:05 PM

RBI policy: Any weakness in rate sensitive stocks is an opportunity to buy

The Reserve Bank of India's on Friday kept the benchmark interest rate unchanged amid coronavirus uncertainty and fears over inflation. The repo rate (lending rate) will continue at 4 per cent and reverse repo rate (RBI’s borrowing rate) at 3.35 per cent. With this, the repo rate has remained unchanged for a sixth consecutive time. READ MORE

12:51 PM

RBI Governor says

>> Have major concerns around cryptocurrencies; no change in our stance

12:50 PM

RBI Governor

>> Have advised banks and NBFCs to push up capital buffers to protect themselves against the stress from the second wave

 

>> Our expectation is that NPAs will remain within our past estimates and will remain manageable

 

12:49 PM

MARKET UPDATE:: Sensex turns positive in volatile trade

12:41 PM

RBI GOVERNOR :: Closely monitoring growth revival, inflation dynamics

>> Focus on growth will continue; inflation well within 2-6% band

12:37 PM

RBI Governor says

>> Surplus transfer is not a policy but an accounting issue

12:30 PM

COMMENT :: Barclays on RBI policy

The measures unveiled today should be seen in context of the continuous liquidity pumping done by the central bank through the past year. Since the emergence of the pandemic, we estimate that the RBI has infused liquidity to the tune of Rs 15.8trn.

 

The RBI expects vaccinations to pick up pace in coming months, which may mitigate downside risks to growth, along with buoyant export demand. RBI’s current growth projections bring the central bank closer to Barclays estimate of 9.2% y/y for this fiscal.

12:29 PM

COMMENT :: Dr M Govinda Rao, Chief Economic Advisor, Brickwork Ratings

MPC’s growth and inflation estimates seem credible with an upward bias in the former, and the assurance of continuation of accommodative stance to support and nurture the growth recovery, while assuring to keep the interest rate low.