MARKET WRAP: Sensex surges 177 pts, Nifty ends at 11,665; financials rally

All that happened in the market today

12:42 PM

ABB India gains 4% on board nod for demerger of power grid biz

ABB India shares rose 4 per cent to Rs 1,378 in intra-day trade on the BSE on Friday after its board approved the demerger of the company's power grids (PG) business to ABB Power Products and Systems India (APPSIL). After the demerger, the minority shareholders will be issued one share of APPSIL, which will be listed on the stock exchanges, for every five shares held in ABB India. READ MORE

12:27 PM

Lower bonuses for domestic insurance bankers as firms' revenues take a hit

Domestic investment bankers may take home 30-50 per cent of annual pay as average bonuses, far lower than the 100-200 per cent they pocketed in the last financial year. FY19 saw a lull in equity capital market (ECM) activity, particularly in the latter half of the year, impacting revenues. The amount mopped up by way of initial public offerings (IPOs) and qualified institutional placements (QIPs) dipped about 80 per cent over the previous fiscal, while the quantum of buyback offers declined 17 per cent. READ MORE

12:11 PM

Sugar stocks in focus; Shree Renuka, Mawana Sugars up over 10%

Shares of sugar companies rallied by up to 16 per cent on the BSE in intra-day trade on Friday. Shree Renuka Sugars and Mawana Sugars have rallied 16 per cent and 14 per cent, respectively, on the back of a two-fold jump in trading volumes. READ MORE

12:01 PM

Market check

11:50 AM

Nifty PSU Bank index down 1.3%

11:40 AM

Adani Power jumps 3%

11:28 AM

Stocks that hit 52-week high on BSE500

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
BAJAJ FIN.	3094.00	3106.95	52.30	1.72
BAJAJ FINSERV	7402.55	7418.00	79.20	1.08
GODREJ PROPERT.	953.45	967.50	39.15	4.28
H D F C	2056.50	2062.00	15.25	0.75
KAJARIA CERAMICS	620.90	625.20	10.40	1.70

11:07 AM

NEWS ALERT | SC to hear contempt case against Singh brothers on April 11

11:06 AM

Eicher Motors climbs over 1%

10:57 AM

Tata Motors slips 1.6%

10:42 AM

State Bank of India slips

10:32 AM

Jyothy Labs up 5%

10:18 AM

Lakshmi Vilas Bank locked at 5% upper circuit; stock soars 45% in 6 days

Lakshmi Vilas Bank shares were locked at 5 per cent upper circuit, at Rs 92.75, for the second straight day, in intra-day trade on the BSE after reports of a merger with Indiabulls Housing Finance. READ MORE

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10:08 AM

Polycab IPO: Should you invest?

Given its leadership in cables and wires, diversified portfolio and distribution network, Polycab India is expected to post robust growth rates going ahead. The company has been outperforming the cables and wires sector with a growth of about 14 per cent over the last three years. READ MORE

9:59 AM

Market check