MARKET WRAP: Sensex slips 240 points as IAF strikes Pakistan terror camps

All that happened in the markets today

12:50 PM

Web Exclusive | We see a lot of value in small-and mid-caps: Viraj Mehta, Equirus PMS

Stocks might look volatile currently but if someone's investment horizon is of two-three years, equities should return five - six per cent above inflation, says Viraj Mehta, managing director and fund manager at Equirus PMS, in an interaction with Swati Verma. READ MORE

Viraj Mehta

12:49 PM

Anand Rathi clarifies on Sebi order

We have noted SEBI's order related to ARCL. SEBI has observed that courts and authorities have made serious adverse observations against NSEL and paired contracts. It states that even though such observations (against NSEL) are yet to established in a court of law, but by mere association of ARCL in the capacity of a broker with NSEL, the reputation of ARCL is affected and therefore the certificate of registration has been denied.

We are examining the order and will take necessary legal steps to file appeal against the order. ARCL and its clients and employees are in fact victims of this fraud perpetrated by NSEL. SEBI order rejects the application of registration of ARCL and has no impact on other businesses of the Group

(Source: Company release)

12:47 PM

Kotak Securities on Radico Khaitan

Central Pollution Control Board (CPCB) has made certain observations on zero liquid discharge system of RKL's Rampur plant to improve the environmental conditions. Due to this, CPCB has directed closure of RKL's molasses and country liquor plant at Rampur, UP

We have cut our EPS estimates for FY19E by ~3%, while keeping it unchanged for FY20E. Based on FY19E/FY20E revised EPS of Rs 14.2/18.4, the stock is trading at PE of 26.2/20.2x. We upgrade our rating on the stock to Buy (Vs ADD earlier) after recent correction in the share price, with unchanged target price of Rs 460, valuing the stock at 25x FY20E EPS

12:35 PM

Top gainers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
SWAN ENERGY	129.70	12.85	11.00	199603
KRBL	345.55	28.40	8.95	27827
GREENPLY INDS.	146.90	8.10	5.84	19186
INTELLECT DESIGN	179.30	8.90	5.22	92820
PERSISTENT SYS	626.00	25.10	4.18	25394

12:18 PM

Tata Motors gains for 10th straight session; stock climbs 19% in two weeks

Shares of Tata Motors were trading higher for the 10th straight trading session, up 2.5 per cent at Rs 181 apiece on the BSE, in an otherwise weak market as Tata Sons increased its stake in the company by nearly one percentage points through open market purchases. The stock of auto major outperformed the market by gaining 19 per cent, as compared 1 per cent decline in the S&P BSE Sensex. READ MORE

12:06 PM

MEA ON BALAKOT AIR STRIKE

"In an intelligence led operation in the early hours of today, India struck the biggest training camp of JeM in Balakot. In this operation, a very large number of JeM terrorists, trainers, senior commanders and groups of jihadis who were being trained for fidayeen action were eliminated. This facility at Balakot was headed by MAULANA YOUSUF AZHAR (alias USTAD GHOURI), the brother-in-law of MASOOD AZHAR, Chief of JeM"

Vijay Gokhale addresses the media after IAF strike. Photo: ANI

11:55 AM

MARKET CHECK

11:46 AM

Foreign Secy says

11:44 AM

MARKET COMMENT :: G Chokkalingam, founder and managing director at Equinomics Research

Both the nations are sitting on a nuclear bomb and that will act as a war-deterrent. So, I feel both India and Pakistan will reach a compromise and the issue will be resolved soon. In the last three-four decades, we have not witnessed any war from any country which have a nuclear bomb. So, it's not easy to go for a full-fledged war. Rupee, too, is expected to come back to normalcy and hover around 71 levels READ MORE HERE

11:38 AM

Foreign Secretary Vijay Gokhale says

11:37 AM

Foreign Secy says

11:36 AM

Foreign Secy: Selection of target was done so as to avoid civilian casualties

11:36 AM

MARKET COMMENT :: Vinod Nair, head of research, Geojit Financial Services

Political strategists believe that geo-political risk has turned for the worse with a possibility that this calamity can get extended. Market will remain watchful and eagerly assess announcements from both the sides to evaluate further risk

11:35 AM

Large number of terrorists and fidayeen operatives have been eliminated: Foreign Secy

11:34 AM

Foreign Secy: India has struck the biggest training camp of JeM in Balakot