Sensex ends 272 pts up as RIL, HCLTech, ICICI Bank jump up to 3% in fag end

Stock market highlights on January 10: The S&P BSE Sensex closed 271 points higher at 71,656, as it recovered from the day's low of 71,111. The NSE Nifty 50 climbed 74 points to end at 21,619

SI Reporter New Delhi

Photo: Bloomberg

10:44 AM

Book profit in realty stocks as rally may hit valuation hurdle: Analysts

Shares of real estate firms have been firing from all cylinders, outperforming the markets over the past one year. The rally, analysts say, may hit roadblocks in the near-term amid stretched valuations, even as long-term prospects remain bright for the sector. Read

10:30 AM

Medi Assist Healthcare fixes price band for IPO at Rs 397- Rs 418

Medi Assist Healthcare Services, a third-party health administrator for insurance companies, has set the price band for its Initial Public Offering (IPO) between Rs 397 and Rs 418 per equity share, each with a face value of Rs 5. The company aims to raise approximately Rs 1,171.58 crore through the IPO, which will open on January 15, 2023, and close on January 17, 2023. Read

10:19 AM

Cochin Shipyard soars 8% on turning ex-split; up 148% in 6 months

Shares of Cochin Shipyard hit a new high of Rs 722.90, as they rallied 8 per cent on the BSE in Wednesday’s intra-day trade in an otherwise subdued market. The stock turned ex-date for the sub division of equity shares in the ratio of 1:1. Read

A complete Indian bid for $7-bn LNG tender

10:06 AM

View: After recent swings, firm trend may emerge as Q3 earnings start

The market is moving up and down without a directional trend. Up moves are countered with selling and down moves are responded with buying. A trend might emerge in the coming days in response to Q3 results.

There is an important dichotomy in the market which has implications for investors. Segments like defence and railways have run up too much too fast based on expectations triggered by order inflows.

It will take time for these orders to be executed and reflect on the bottom lines. On the other hand there is value in segments like banking, particularly in high quality private sector majors. But this value is not getting reflected in the price.

This is a short-term aberration which will correct in the medium to long-term. Here patience is the key.

Q3 results starting tomorrow will be keenly watched. Regarding IT the management commentary will be more important than the results which will be tepid.

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

9:49 AM

Polycab gains on refuting reports of income tax evasion

Refuting media reports of tax evasion, it said it has not received any communication from the income-tax department regarding the outcome of the search.

9:44 AM

Infibeam jumps 3%; to invest Rs 2000 crore in Gujarat for payment linked AI tech

The company has inked a pact with the Gujarat government to invest Rs 2,000 crore in the state by 2030.

9:41 AM

Vedanta sinks 2.4% as Moody's downgrades arm's credit rating

Moody's has downgraded Vedanta Resources' corporate family rating to Caa3 from Caa2 and rating on unsecured bonds to Ca from Caa3. Outlook has been maintained as negative.