Indices close at record highs; Sensex ends above 40k-mark for first time

All that happened in the stock market

2:35 PM

Market check | Sensex surges 500 pts

2:27 PM

Reliance Industries rises 1.6%

2:25 PM

NEWS ALERT | RBI approves appointment of Rakesh Makhija as non-executive chairman of Axis Bank, reports CNBC TV18

2:25 PM

Crude extends losses; WTI drops over 1%

Image credit: oilprice.com

2:08 PM

NEWS ALERT | Sensex, Nifty hit fresh all-time highs of 40,140.27 and 12,050, respectively

2:00 PM

HDFC Securities on Lemon Tree Hotels

CMP: Rs 74

 

Target Price: Rs 72

 

Rating: Neutral

 

Healthy room growth, geographic diversion and improving mix of keys in demand dense higher ARR markets to drive strong growth. Led by the above factors, EBITDA is set to triple over FY19-23E from Rs 1.7bn to ~Rs 5bn. That said LTHL’s rich valuation at 30/24 x FY20/21E EV/EBITDA leaves limited margin of safety. Valuation would look more expensive on proportionate ownership basis in subsidiaries (~75%).

1:57 PM

Anand Rathi on Ahluwalia Contracts (India)

Factoring in the delays in timelines for the Charbagh railway re-development and the Kolkata-seater-extension projects, we lower our estimates. We also factor in the real-estate-inventory liquidation at below book value. Consequently, our FY20e earnings are down ~12% (and ~3% for FY21). At the CMP, the stock trades at PER (excl. the Kota asset) at 15.7x FY20e and 12.8x FY21e. Risk: Any slower-than-expected project execution.

1:49 PM

NEWS ALERT | 5 lakh WiFi spots will be established on fast track basis: Ravi Shankar Prasad

1:47 PM

NEWS ALERT | Want to hold telecom spectrum auction by December end: Ravi Shankar Prasad, telecom minister

1:43 PM

With enough cash in hand, SpiceJet may evaluate 'several offers' for stake

“SpiceJet has enough cash,” Ajay Singh said in an interview, while attending an industry conference in Seoul. “We have to see if this serves SpiceJet’s long-term interests, and when we come to that determination, we’ll do something. These are typical in a situation when an airline is doing well and the market is as promising as India.” READ MORE

1:38 PM

Hero MotoCorp gains over 5%

1:35 PM

Modi's victory in Lok Sabha polls makes rupee double-edged sword for RBI

The rupee could be set to gain as Prime Minister Narendra Modi’s sweeping election victory boosts foreign inflows. That may present a dilemma for India’s central bank, analysts said.

 

The rupee is emerging Asia’s top performer in the past three months, thanks to the gush of foreign cash. With inflows poised to accelerate after the election result, the Reserve Bank of India may have to rein in the currency or risk making the nation’s exports less competitive as rival currencies weaken. READ MORE

1:29 PM

TTML zooms 71% in one week on Q4 profit, fundraising plan of Rs 35K crore

Shares of Tata Teleservices (Maharashtra) (TTML) were locked in the upper circuit for second straight session on Monday, having jumped 10 per cent intra-day to hit Rs 4.57 apiece. It has surged 71 per cent in the past one week on the BSE after the company reported net profit of Rs 580 crore in March quarter (Q4FY19) against a net loss of Rs 680 crore last year.

 

The company also reported an exceptional gain of Rs 510 crores on partial reversal of impairment, recorded during the previous year. READ MORE

1:26 PM

Bank of Baroda falls over 2.5%

1:22 PM

NEWS ALERT | Govt needs to aggressively push for economy revival: CII to CNBC TV18