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

9:18 AM

Opening Bell :: Nifty trades flat

9:17 AM

Opening Bell :: Sensex off morning lows

9:12 AM

Commodity Heatmap

9:08 AM

Top gainers and losers on the S&P BSE Sensex in Pre-open

9:06 AM

Pre-open session

9:05 AM

Pre-open session

9:02 AM

Citi downgrades Motherson Sumi to Sell

Downgrades to Sell from Neutral | Target: Rs 215/share

>> Strong stock performance appears to price in SMRPBV margin improvement 

>> SMRPBV margins have peaked in Q4 

>> Uncertainty continues on India business post restructuring

>> At 35/29x FY22/23 PE, risk-reward appears unfavorable

9:01 AM

Citi bullish on L&T on comfortable valuation

Maintains BUY | Target: Rs 1,685/share

>> Covid second wave's impact on execution is much lower than first

>> Confident of maintaining margins in FY22E despite increased margin in FY21 

>> Ordering prospect at Rs 9.06 trillion is up 8.5% YoY

>> Working on FY22-FY27 strategic plan and details will be shared in 3Q/4QFY21

>> Valuation at 16x core FY23E EPS is reasonable, in our view.

8:59 AM

Jefferies maintains Buy on HEG

Maintains BUY | Target: Rs 3,065/share

>> Optimistic Outlook; Capacity Utilization at +85%

>> Operational cycle appears to be turning favourable for Graphite Electrodes

>> HEG's capacity utilization improved from 45% in Q1 to 85% in Q4FY21

>> Electrode prices have risen by ~20% YTD

>> Bulk of higher- cost needle coke inventory was liquidated by HEG in Q4

8:58 AM

ALERT :: Jewellery stocks in focus

>> US suspends tariff on Jewellery imports from India.

 

>> Alert: USA is India’s major export market for gem and jewellery products.  Exports of around $9.3 billion ie 25.6% of total gem & Jewellery export goes to the US

Source: TV flashes

8:54 AM

Fuel price update

8:51 AM

ALERT :: Glenmark in focus

>> Glenmark Pharma gets final US FDA nod for Theophylline Extended Release Tablets.

>> Co is eligible for 180-day of CGT exclusivity for the drug

Click here for more details

8:48 AM

Top stocks to watch today

Earnings Today: PNB, Bank of India, Bharat Forge, Jubilant Pharmova and NIIT are among 34 companies slated to post their quarterly numbers today.

 

Rate sensitive stocks: Rate sensitive stocks will be in focus as the RBI is scheduled to announce its decision in interest rates. Experts told PTI the central bank is likely to keep the benchmark interest rate unchanged given COVID-19 uncertainty and fears over inflation.

 

Telecom stocks: The Department of Telecom issued guidelines on implementation of production-linked incentive (PLI) schemes for equipment manufacturers in the sector. READ MORE

8:44 AM

RBI will reiterate the need for right policy mix, says expert

Since the RBI’s first Monetary Policy Committee (MPC) meeting for FY22 in April, the global and domestic economic scenes have changed significantly. The outlook for major economies, especially the US and China, has brightened and commodity prices have escalated on demand optimism.

 

There is a growing concern this may make their central banks rethink their accommodative policy stance, sooner than later. READ MORE

8:41 AM

RBI monetary policy: Bond market expects minimum Rs 1 trn of G-SAP in Q2

The bond market is eagerly waiting for the Reserve Bank of India (RBI) to announce how much it plans to buy in the second quarter under its government securities acquisition programme (G-SAP), and if the second tranche would bring in any conditions. The central bank has plans to buy Rs 1 trillion of bonds under the G-SAP in the first quarter, of which it has already bought Rs 60,000 crore of bonds. READ MORE