Sensex, Nifty end flat after a choppy session; broader markets outperform

All that happened in the market today

12:35 PM

153 IPOs hit Indian market in 2017

 

As many as 153 initial public offers hit the Indian stock market this year, raising $11.6 billion, according to an EY report that says activity "looks good" for 2018 as well.

 

According to the report released on Wednesday, the fourth quarter (October-December) of this year saw 22 IPOs hitting the market, an increase of 47 per cent quarter-on-quarter (Q- O-Q) in terms of number of deals.

 

"India's BSE, NSE and junior markets recorded a 74 per cent increase in deal numbers in 2017 compared with 2016, with 153 IPOs raising $11.6 billion," the report said. READ MORE

12:19 PM

Unitech, RCom wipe out 97% shareholder wealth in 10 years

 

Shares of Sanjay Chandra-controlled Unitech and Anil Ambani-owned Reliance Communications (RCom) along with Tata Teleservices (Maharashtra) – accused in the Rs 1.76-lakh crore 2G spectrum allocation scam – have not been able to regain lost glory since August 2007, when the government (Department of Telecom) initiated the process of allotment of 2G spectrum along with Unified Access Services (UAS) licences. READ FULL REPORT

12:01 PM

Markets check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,749.68	-27.70	-0.08
S&P BSE SENSEX 50	10,891.37	-3.16	-0.03
S&P BSE SENSEX Next 50	36,422.58	+116.90	+0.32
S&P BSE 100	10,934.50	+3.16	+0.03
S&P BSE Bharat 22 Index	3,781.35	+18.54	+0.49

Source: BSE

11:54 AM

Varun Beverages up 10%

 

Varun Beverages surged 10% to Rs 589, also its 52-week high on the BSE in intra-day deal, after the company announced that its board has approved a proposal to sign an agreement to acquire PepsiCo India Holdings Pvt.'s previously franchised sub-territory in Jharkhand along with manufacturing facilities and franchise rights for Chhattisgarh.

 

READ FULL REPORT 

11:39 AM

How SC, CAG moves triggered telecom consolidation, debt

 

The Central Bureau of Investigation (CBI) court in New Delhi will on Thursday pronounce its verdict in the Rs 1.76-lakh-crore 2G spectrum allocation scam of 2008. While a resolution to the long-running case seems close in sight, it would be pertinent to see how the infamous case and key moves in it by the court and the national auditor changed the country's telecom landscape significantly. READ MORE

11:27 AM

Why Tata Steel's Kalinganagar expansion makes sense

 

Tata Steel's plan to expand the capacity of its Kalinganagar (Odisha) plant from three million tonnes per annum (mtpa) to eight mtpa in four years is a positive. For, the company's India business enjoys one of the highest profit margins among peers, both domestic and global.

 

If the uptrend in the domestic steel cycle sustains, it should mean substantial growth in profit. Even if it doesn't, the lower capital cost should ensure a shorter payback period. READ FULL ANALYSIS

11:18 AM

A Raja on 2G scam verdict

 

I am naturally happy. Knew I would be acquitted (in 2G case). Will issue a statement soon: Former Telecom Minister A Raja tells Business Standard.

11:15 AM

Buzzing stocks

 

Shares of D B Realty, Unitech and Sun TV Network have surged up to 20% after the Supreme Court acquitted all accused in 2G spectrum scam.

 

Pronouncing its verdict in the Rs 1.76-lakh-crore 2G spectrum scam, the Central Bureau of Investigation (CBI) special court of judge O P Saini on Thursday acquitted all accused, including former telecom minister Andimuthu Raja, Dravida Munnetra Kazhagam (DMK) member Kanimozhi and corporate executives like Swan Telecom’s Shahid Balwa, Unitech’s Sanjay Chandra and the Essar group’s Ruias, as the prosecution failed to prove the case against them, the Business Standard report suggested. CLICK HERE FOR MORE

11:12 AM

2G scam verdict

 

The Court said that the prosecution has miserably failed to prove any of its charge. Thus all accused are acquitted: Vijay Aggarwal, Lawyer of Swan Telecom promoters Shahid Usman Balwa, Vinod Goenka and others. 

11:11 AM

Chidambaram on 2G scam verdict

 

Allegation of a major scam involving the highest levels of Government was never true, was not correct and that has been established today: P Chidambaram, Congress 

11:09 AM

Unitech surges 20% intraday 

Unitech rallied as much as 20% to Rs 8.49 on the BSE. 

11:05 AM

DB Realty hits upper circuit 

DB Realty hit upper circuit of Rs 43.70, up 20% on the BSE. 

10:57 AM

Sun TV spikes 4% post 2G verdict

 

Shares of Sun TV rallied as much as 6% to Rs 996 after special CBI court acquitted all accused in the first case, including former Telecom Minister A Raja and Kanimozhi, daughter of DMK leader M Karunanidhi.

10:37 AM

Buzzing stocks

 

Shares of Mahindra & Mahindra (M&M), Balkrishna Industries and Castrol India were down 3% in early morning trade after these stocks turn ex-bonus on Thursday. While Vakrangee hit a new high of Rs 405, adjusted to bonus issue, was up 7% on the BSE in intra-day trade. READ MORE 

10:22 AM

The party is not over yet for EMs' dream rally

 

Bulls will retain the upper hand in emerging markets in 2018, but some assets could be in for a reality check.

 

Bonds and equities in developing countries will continue to streak ahead, outpacing their developed-nation peers into next year, according to a Bloomberg survey of 20 investors, traders and strategists. Currencies, however, may struggle to stay in front. The survey was conducted December 5-14. READ MORE