Sensex, Nifty end flat after volatile session; metal, energy stocks shine

CLOSING BELL: M&M, Tech M, Dr Reddy's Labs, Reliance Industries, HCL Tech, and Tata Steel were the top gainers on the 30-pack index

9:33 AM

Bajaj Auto drops 1% after board approves Rs 2,500 crore buyback

9:28 AM

Titan, Asian Paints, Bajaj Auto top Nifty50 losers

9:26 AM

ONGC, M&M, JSW Steel top Nifty50 leaders

9:23 AM

Broader markets tepid; India Vix climbs 2%

9:22 AM

Majority sectors bleed; Metals, PSU Banks shine

9:19 AM

Opening bell: 8 out of 30 Sensex counters open in green

9:18 AM

Opening bell: Sensex sheds over 150 points

9:17 AM

Opening bell: Nifty50 opens below 15,800 levels

9:11 AM

Pre-open session: 11 out of 30 Sensex stocks in positive zone

9:10 AM

Pre-open session: Sensex slips over 300 points

9:09 AM

Pre-open session: Nifty50 falls below 15,800 levels

9:02 AM

Currency at open: Rupee opens 18 paise weaker at 78.52/$

8:59 AM

Tech pick: Mehul Kothari recommends this strategy on Bajaj Finserv and LTTS

According to the technical analyst from Anand Rathi, Bajaj Finserve should be bought on rise above Rs 12,000, while one should consider buying LTTS on dips near Rs 3,000-mark. Read more

8:56 AM

Expert view on Bajaj Auto buyback:

The size of the buyback is Rs 2500 cr and at a price of Rs 4600. However it's an open market buyback and not through a tender offer.

This means that the stock may not reach those levels by the time the buyback offer closes.

Therefore for retail investors, there may not be any significant upside because of this buyback. However, we believe that the stock definitely holds a good value through its intrinsic performance and can reach levels of Rs 4400 which is as it is our target price. Maintain Buy.

Views by Ashwin Patil, Senior Research Analyst at LKP Securities.

 

8:53 AM

For Bajaj Auto, share buyback worth up to Rs 2,500 crore spurs optimism

Fall in raw material prices, low base, and normal monsoon are other positives. Read here