Sensex tumbles 931 pts, Nifty holds 21,150; SmallCap index sheds 3.4%

Closing Bell on Wednesday December 20: Sectorally, the Nifty Media index tumbled 4.86 per cent, the Nifty PSU Bank index 4.2 per cent, the Nifty Metal 4 per cent

11:06 AM

Varun Beverages zooms 18%, hits record high on acquisition plan of BevCo

Shares of Varun Beverages hit a new peak of Rs 1,380.45 as they surged 18 per cent on the BSE in Wednesday's intraday trade after the company said it will acquire South Africa's The Beverage Company Ltd (BevCo) for Rs 1,320 crore as it plans to expand its geographical footprint in Africa. READ MORE

10:48 AM

Razorpay, Cashfree receive final RBI nod for payment aggregator biz

"We are now open to onboard new businesses on our Payment Gateway platform! Razorpay has received the final authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator under the Payment Settlements Act, 2007. Having received the new PA license, we now restart onboarding new customers and are committed to serving them with our industry-first payment solutions," a Razorpay spokesperson said. READ MORE

10:35 AM

Debt fund taxation change breathes life into equity savings scheme

The inflows along with a strong performance led to a 50 per cent surge in assets under management (AUM) to Rs 24,100 crore during April-November, shows data from the Association of Mutual Funds in India (Amfi). READ MORE

10:20 AM

Reliance Industries pays Rs 254 crore license fee to Metro to use its name

Metro AG clarified in its latest annual report that the payment was part of the transitional services and licences provided by Metro AG to facilitate the new owner in operating the business. The brand license fee of Rs 254 crore was received in advance as part of the sale of Metro India and is recognised in the financial year. READ MORE

10:05 AM

Listing Alert: India Shelter Finance lists at 24% premium to issue price

10:03 AM

Listing Alert: DOMS debuts 77% higher over issue price

9:56 AM

VIEW: Large-caps likely to outperform ahead

Even as the holidays are fast approaching, the market is not in a holiday mood. It is consolidating, but at higher levels. The steady rise in the mother market US, which has helped the Dow to set a new record high, is exhibiting the same trend.

The fact that the fear gauge - VIX - is at a low level of 12 is an indicator of the underlying strength of the market. Valuations in the mid and small cap segments are excessive.

Chasing mid and small caps at these valuations is risky. Going forward, large-caps are likely to outperform. Even if they don’t, safety is in large caps. Investors should give importance to safety in this time of optimism.

Declining bond yields in the US means FIIs will continue buying Indian stocks. The New Year is likely to witness a fresh bout of FII buying. Large caps like RIL which have not participated much in the rally may see action.

Views by V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

9:45 AM

Deepak Nitrite up 3% as arm inks 15-year supply pact with Petronet LNG

A wholly-owned subsidiary of Deepak Nitrite said it will supply 250 kilotons per annum (KTPA) of propylene and 11 KTPA of hydrogen to Petronet LNG. The arrangement spans 15 years from the initial delivery. 

9:43 AM

Nippon AMC soars 7% on likely stake sale by IndusInd Bank

IndusInd Bank was likely to sell up to 1.79 crore share or a 2.86 per cent stake in Nippon AMC through a block deal, reported CNBC-TV 18. The floor price for the block deal is said to have been Rs 426.60. 

 

9:41 AM

Embassy REIT dips amid reports Blackstone looking to exit trust

Blackstone plans to exit the real estate investment trust by selling its entire 23.6 per cent stake through a mega block deal of $833 million, reported Moneycontrol.

9:38 AM

BSE rises 2% on imposing additional 15% margin in derivative stocks

BSE will impose an additional 15 per cent exposure margin in the equity derivatives segment on securities in which top 10 clients account for more than 20 per cent of market wide position limit (MWPL).

9:36 AM

SpiceJet up 2% as reports say business couple to invest Rs 1,100 crore for 19% stake

After last week’s fundraising approval, Mumbai-based businessman Harihara Mahapatra and his wife Preeti are likely to invest Rs 1,100 crore in SpiceJet for a 19 per cent stake. Aries Opportunities Fund will hold 3 per cent while Elara Capital will hold 8 per cent, after conversion of warrants, reported The Economic Times. 

9:34 AM

Varun Beverages surges 10% on plan to buy African BevCo franchise

The company said it will acquire South Africa's The Beverage Company Ltd (BevCo) for Rs 1,320 crore as it forays into and expans its geographical footprint in Africa.

9:31 AM

IT index rebounds, jumps 1%; FMCG follows

9:28 AM

SmallCaps' outperformance continues