Indices continue to soar; Sensex ends 347 points higher, Nifty tops 13,350

All that happened in the markets today

4:14 PM

MARKET COMMENT | Ajit Mishra, VP - Research, Religare Broking Ltd

Markets started the week on a positive note amid supportive global cues. Further, news of progress in the Covid vaccine and healthy inflows by FII helped markets to continue its upward trend. Consequently, the Nifty ended near a record high at 13,356 up by 0.7 per cent. On the sector front, FMCG, Healthcare, and PSU were the top gainers. Further, midcap and smallcap outperformed and ended with decent gains in the range of 0.95-1.3 per cent.

 

We are seeing buying interest emerging on every dip, thanks to rotational participants across the sectors. Technically, Nifty could face a hurdle around 13,450. The stock-specific trading approach is yielding decent returns so far and we suggest continuing with the same. Also, keep a close watch on global markets and upcoming domestic macro data for cues.

3:43 PM

Nifty FMCG gains 1.58%

3:42 PM

MARKET AT CLOSE | Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex ended 347 points, or 0.77 per cent higher at 45,427 levels while NSE's Nifty ended at 13,356, up 97 points, or 0.73 per cent. 

3:28 PM

MARKET CHECK

3:20 PM

Top gainers on the BSE at this hour

3:16 PM

ADF Foods advances 19% on heavy volumes, stock hits new high

ADF is a consumer-focused company and a leader in prepared ethnic food offering ready-to-eat (RTE) items, ready-to-cook (RTC) items, sauces, pickles, pastes, dips, and frozen foods under its 7 Flagship brands. It manufactures, distributes, and markets Indian food along with organic Mexican and natural Mediterranean foods. The company’s products are available in over 50 plus countries through a strong distribution network across US, Canada, Europe, Australia, Asia, and Middle East. READ MORE 

3:04 PM

Q&A | We see ESG integration becoming mandatory: Khurana of Refinitv Asia-Pacific

The AUM of self-identified ESG funds is expected to contribute close to 36 per cent of global AUM by 2022. ESG is expected to become an essential part of investors long-term equity allocation. Participation from retail investors in the ESG space is hovering around 25 per cent and is expected to see a strong growth in coming years. India too is witnessing a noteworthy traction in this space.  READ FULL INTERVIEW HERE

Deepak Khurana, Performance Director—Fund Ratings and Distribution, Refinitv Asia-Pacific

3:04 PM

BUZZING STOCK:: Adani Enterprises up 4%, at day's high

2:57 PM

Nestle India slips nearly 2%

2:56 PM

SBI to boost retail loan book, sees earnings improving

“The banks were expecting worse, so they strengthened risk management significantly,” Khara, who took charge as head of the country’s largest lender in October, said in an interview with Bloomberg Television on Monday. “That’s why we are expected to see much better results than at the beginning of the pandemic.” READ MORE

2:45 PM

ICRA on construction equipment industry

“Given the uncertainty around the pandemic, especially given the recent second wave in some states, the weak macroeconomic outlook, cautious financing environment and the demand sustenance remaining to be seen, ICRA continues to maintain a negative outlook for the CE industry. That said, healthy funds flow from the Government and ongoing projects are expected to support demand during H2 FY2021, after sizeable volume contraction during H1 FY2021," says Ms. Mythri Macherla, Assistant Vice President, ICRA. 

2:43 PM

HDFC, HUL, and ICICI Bank among top contributors to Sensex's gain today

2:34 PM

RInfra, DHFL, Tanla Platforms and 384 other stocks hit upper circuit

Kothari Products, Oswal Greentech, Adhunik Industries, Jaiprakash Power Ventures, Sical Logistics, Shemaroo Entertainment, Geojit Financial Services, Mawana Sugars, Hindustan National Glass & Industries were locked in 20 per cent upper circuit on the BSE, at 01:51 pm. In comparison, the S&P BSE Sensex was up 0.49 per cent at 45,303 points. READ MORE 

2:23 PM

IndusInd Bank up over 3%

2:15 PM

European indices trade lower in early deals

(Source: Reuters)

2:07 PM

Hindalco invests Rs 730 cr in 34,000 tonne extrusion facility at Silvassa

“We are seeing a revival in the economy, with demand picking in the building and construction and automotive sectors. This has given us the confidence to move forward. The Silvassa facility will enable us to service our customers faster, with an offering of high-end quality aluminium products,” Satish Pai, managing director at Hindalco Industries was quoted as saying. READ MORE

1:57 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI PORTS	467.80	474.90	3.11
ADANI TRANSMISSI	434.40	444.85	-0.39
APL APOLLO TUBES	3828.00	3922.95	2.84
ASIAN PAINTS	2459.90	2466.50	0.87
BAJAJ ELECTRICAL	625.25	632.95	2.74

1:52 PM

CEO Delaporte turning around Wipro as stock rally 70% since appointment

He’s trying to turn around the struggling business without letting the Covid-19 pandemic slow him. Delaporte slashed the top ranks of leadership from 25 people to four. He stepped up acquisitions, with more on the way. Mostly, he focused his attention on customers, meeting with 130 over video conference and helping to land new multi-year contracts with clients in the US and Europe. READ MORE

Thierry Delaporte

1:46 PM

Ashoka Buildcon jumps 15%, hits over 9-month high on strong growth outlook

Shares of Ashoka Buildcon moved higher by 15 per cent to Rs 99.25 on the BSE in intra-day trade on Monday on the back of heavy volumes on the expectation of a strong growth outlook. The stock of roads and highways company hit an over nine-month high, and was quoting at its highest level since February 22, 2020. It had touched a 52-week high of Rs 121.60 on January 22, 2020. READ MORE

1:37 PM

IndiGo to refund customers for flight cancellations due to Covid by Jan 31

IndiGo on Monday said it will refund all customer credit shells, which were created when flights were cancelled due to the coronavirus lockdown earlier this year, by January 31, 2021.

 

The airline in a statement said it has already processed close to Rs 1,000 crore of refunds, which is approximately 90 per cent of the total amount it owed to its customers. READ MORE
 

1:29 PM

NEWS ALERT :: Goodyear announces interim dividend of Rs 80/share for FY21

>> The Interim Dividend shall be paid within the statutory time limit and the Record Date for the purpose of determining the entitlement of the Members for the interim dividend has been fixed as December 15, 2020, already intimated on December 02, 2020 for the purpose.

1:25 PM

PSU Banks rally; SBI up 2.6%

1:17 PM

NTPC offers to buy back its Rs 4,000 cr masala bonds from lenders

According to company statement, the offer include the rupee denominated Rs 2,000-crore 7.375 per cent notes issued on August 10, 2016, payable In USD and due on August 10, 2021 (''2021 notes''). READ MORE

1:09 PM

Sharp uptick in markets

1:00 PM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
IFCI	8.49	17.10
FORCE MOTORS	1428.00	13.35
STERLING & WILS.	275.55	12.88
CHALET HOTELS	199.70	10.06
HIMATSING. SEIDE	138.65	10.00

12:51 PM

As MRF stock outperforms, margin worries may go up; valuation as well

The MRF stock gained 35 per cent over the last three months as falling raw material prices, steady replacement segment growth, and restrictions on imports from China helped boost revenues and margins. The recent trigger for the stock was a better-than-expected operating performance in the September quarter. READ MORE

12:38 PM

Weak fundamentals, high valuation: Is it time to sell IndiGo, SpiceJet?

It has mostly been a one-way street over the past one month for aviation stocks such as SpiceJet and InterGlobe Aviation (IndiGo) as a gush of liquidity drove investors towards equities. That apart, some investors have been lapping up these stocks in the hope that the government's 'unlock' of the economy and the possibility of a vaccine over the next few months will push people to travel more. READ MORE

12:28 PM

MF stock universe set for a rejig

The universe of stocks that equity fund managers have to choose from is set for a rejig. According to an analysis done by ICICI Securities there could be four to five switches between large-caps and mid-caps and about a dozen between mid-caps and small-caps. Among the stocks that could move out of the large-cap universe are MRF, NMDC and United Breweries. READ MORE

12:16 PM

BROKERAGE VIEW | LKP Securities on Bank of Baroda

RATING: BUY | TARGET PRICE: Rs 74 

We expect the bank to post a ROA/ROE of 0.4%/6.2% by FY22E led by stable balance sheet growth along with higher PCR and stable asset quality. We value the standalone bank with PBV of 0.5xFY22E Adj. BVPS of Rs 148 to arrive at a price target of Rs 74. We recommend BUY with potential upside of 37.6%.