Sensex, Nifty end lower dragged by HDFC Bank, RIL; PSU Bank index jumps 3%

Closing Bell on Monday, September 18: The S&P BSE Sensex fell 242 points to 67,597 levels, while the Nifty50 ended below the 20,150-mark at 20,133, lower by 59 points

10:25 AM

ALERT :: HFCL wins order worth Rs 1,015 crore

>> The company has secured the order aggregating to Rs 1,015 crore from Madhya Pradesh Jal Nigam, a Government of Madhya Pradesh Undertaking

>> This order encompasses for providing EPC Services including provision for laying of optical fiber cables on critical and important routes, for the execution of

Multi – Village Drinking Water Supply Network in Sheopur district of Madhya Pradesh
 

10:14 AM

Foreign flows into Indian equities to take a breather, suggest analysts

“Valuations appear rich with the markets at record highs. Foreign investors are likely to hit the ‘sell’ button in the coming days. With high bond yields in the US (the 10-year is at 4.28 per cent) and the dollar index above 105, foreign institutional investors (FIIs) are likely to sell more. Even though they (FIIs) have been sellers in the cash market, it didn’t impact the market much, as it was neutralised by domestic institutional investors (DIIs) buying in September,” said V K Vijayakumar, chief investment strategist at Geojit Financial Services. READ MORE

10:00 AM

New Listing :: Jupiter Life Line Hospitals debuts at 31% premium on BSE

>> Stock lists at Rs 960 on BSE, a 30.6 per cent premium

>> Stock lists at Rs 973 on NSE, a 32.4 per cent premium

>> Issue price was Rs 735 per share

9:46 AM

Parliament Special Session :: PM Modi to speak at 11:00 AM

9:45 AM

Comment :: 'Risks in market rising; time to exercise caution'

>> The participation of large-cap bluechips across sectors has been giving strength to the rally.

>> The fact that the fairly valued banking segment has been a significant contributor to the  recent rally also is a positive development. PSU banks like BoB, Canara Bank and Indian Bank are even now attractively valued.

 

>> The important question is: Will the 'buy on dips' strategy, which has worked well so far, work again from the present level? The risks are high.

>> There is a ‘triple danger’ looming over markets in the near-term: dollar index above 105, steadily rising US 10-year bond now around 4.39%, and the Brent crude above $94. 

 

>> Investors should exercise caution, particularly in the over-heated mid-and small-cap segments. Safety is in large-caps.

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

9:34 AM

Dhanlaxmi Bank sinks 5% as Independent Director accuses MD

>> Independent Director Sridhar Kalyanasundaram has resigned from the board citing "belligerent attitude of the MD & CEO" on various issues.

9:32 AM

RMC Switchgears freezes at 5% upper circuit on order win from Maha guv

>> The company has received a Letter of Award (LoA) of Rs 112.83 crore (excluding GST) in Joint Venture with Continental Petroleums Limited, by Maharashtra Government under Revamped Distribution Sector Scheme (RDSS). 

9:31 AM

WPIL rises 3% on order win from Ministry of Defence

>> The company received a contract for the supply of onboard range of centrifugal pumps and spares for different classes of ships from the Ministry of Defence (Navy) for Rs 14.3 crore.

 

9:29 AM

Bharat Electronics advances 3% on Rs 3,000-cr order win

>>  The company has bagged order worth Rs 2,119 crore from Cochin Shipyard for supply of various equipment and other orders worth Rs 886 crore.

 

9:28 AM

Vedanta to hold Board meeting to consider fund raise; stock gains

>> A meeting of the Board of Directors is scheduled on Thursday, September 21, to consider the proposal for issuance of Non-Convertible Debentures on a private placement basis.

9:27 AM

Tata Steel holds gains in weak market; to set up EAF at Port Talbot

>> Tata steel has announced a deal with the UK Government to set up a 3mn tonne Electric Arc Furnace (EAF) at Port Talbot with an investment of GBP 1.25bn which would enable reduction in direct carbon emission and eventually transform Tata Steel UK into a sustainable and profitable business.

9:25 AM

Buzzing stock :: Vodafone Idea hits 52-wk high on 5G auction payment, erases gains later

>>  Vodafone Idea has paid Rs 1,701 crore to the Department of Telecommunications towards the annual installment for spectrum acquired in the 2022 auction.

9:23 AM

Broader markets :: SmallCap index swim in green, most other in red

9:22 AM

Sectoral trends :: IT index down nearly 1%, banks follow

9:20 AM

Sensex Heatmap :: IT stocks, RIL weigh on 30-pack index