MARKETS: Sensex slips 552 pts on weak global cues, rise in Covid-19 cases

All that happened in the markets today

11:37 AM

ALERT :: Dow Jones Futures slump 850 pts

>> S&P BSE Sensex is at 33,060.36, down 720.53 points or 2.13 per cent.

>> Nifty50 is at 9,761.15-mark, down 211.75 points or 2.12 per cent.
 

11:34 AM

NEWS ALERT :: Balrampur Chini Mills board to consider share buyback on June 23, 2020

11:26 AM

NEWS ALERT :: Ingersoll Rand (India) issues letter for open offer for acquisition of up to 8,207,680 equity shares

Read offer here

(Via BSE filing)

11:17 AM

Near-term upside in Nifty capped at 10,300, say technical analysts

The market’s dream run could be nearing its end as the benchmark Nifty may find it difficult to breach the key resistance level of 10,300, which happens to be the 100-day moving average (DMA). According to technical analysts, the Nifty’s upside could be capped around 10,300, while on the downside the index may slide below 9,700 if key support levels are breached. READ MORE

11:10 AM

Aarti Industries dips 7% on early termination of long-term contract

Shares of Aarti Industries tumbled 7 per cent to Rs 852 on the BSE on Monday after the company said it has received an early termination notice from a customer invoking the "termination of convenience" clause of a long term contract entered on June 15, 2017. The contract was expected to generate revenue of approximately Rs 4,000 crore over 10-year period. READ MORE

11:07 AM

BLOCK DEAL:: Around 4.6 cr shares (3.88%) equity of Tata Steel worth Rs 1,426 cr trade in multiple blocks on BSE & NSE

>> Average price of block deals - Rs 306/sh

10:57 AM

HDFC twins, ICICI Bank top contributors to Sensex's 600-point fall today

10:56 AM

MARKET CHECK:: Top 5 losers on the BSE at this hour

10:48 AM

BROKERAGE VIEW:: HDFC Securities on Mahindra & Mahindra

STANCE: ADD | TARGET PRICE: Rs 520

We increase our FY21/22E EPS by ~7/8% to factor in the better than expected margin outlook. We set a revised SOTP based Mar-22 TP of Rs 520. We increase the multiple for the core business to 13x (10x earlier) due to (1) Improved outlook for Agri segment (2) Increased focus on capital allocation. Key risks: Weak response to new models on the downside, faster than expected economic recovery on the upside.

10:41 AM

ALERT :: Sensex down 650 pts

10:38 AM

Eicher Motors rises 3% despite fall in Q4 profit; ICICI Sec downgrades stk

For the financial year 2019-20, the company reported a PAT of Rs 1,827 crore as compared with Rs 2,203 crore in 2018-19.

 

Royal Enfield''s total revenue from operations was down by 7 per cent to Rs 9,154 crore, compared with Rs 9,797 crore recorded for the year ended March 2019. READ MORE

10:31 AM

MARKET CHECK :: Sharp slide in indices; Sensex tanks 550 pts

10:27 AM

Mahindra & Mahindra gains 9% in 2 days on strong Q4 operational performance

Shares of Mahindra & Mahindra (M&M) gained 2 per cent to Rs 518.50 in the early morning deals on the BSE on Monday, surging 9 per cent in the past two trading days, after it reported a robust operational performance in the January-March quarter (Q4FY20). The company reported a standalone net loss of Rs 2,500 crore, due to exceptional loss of Rs 2,800 crore on account of impairment on investments due to Covid-19 and others. It had posted net profit of Rs 849 crore in the year-ago quarter. READ MORE  

 

Mahindra

10:14 AM

Global markets can retest March lows if infections surge: Christopher Wood

Global markets were volatile last week amid the possibility of a second wave of coronavirus infections and a weaker-than-expected projection of the US economy. Christopher Wood, global head (equity strategy) at Jefferies, tells Puneet Wadhwa that the most positive thing for Indian stocks right now is that the lockdown is ending in most places. READ INTERVIEW HERE

10:07 AM

Rupee Opening

Rupee opens weaker at 75.95 per US dollar vs Friday's close of 75.84/$