MARKET: Indices end flat, Nifty settles at 11,222; PSBs, FMCG stocks fall

All that happened in the markets today

3:43 PM

SECTOR WATCH | Nifty Metal index gains nearly 2%

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 8 points, or 0.02 per cent lower at 37,973 while NSE's Nifty ended at 11,222, down 5 points, or 0.05 per cent. 

3:29 PM

MARKET CHECK

3:13 PM

Titan Co trades over 2% higher

3:03 PM

Logistic shares rally; Blue Dart Express, Gati surge over 10%

Shares of transportation and ,logistics companies rallied up 12 per cent on the BSE on Tuesday on expectations of improved earnings as global freight rates are taking off. Among individual stocks, Blue Dart Express and Gati rallied 11 per cent and 12 per cent, respectively. Snowman Logistics, VRL Logistics, Mahindra Logistics and TCI Express were up in the range of 3 per cent to 7 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.5 per cent at 38,168 points at 02:34 pm. READ MORE

2:55 PM

Ashok Soota debuts in Hurun India rich list with Happiest Minds bumper IPO

Given the stellar initial public offer Of Happiest Minds, its founder Ashok Soota made a debuts in this list with wealth totaling Rs 3,700 crore. Radhakishan Damani, founder of Avenue Supermarts, on the other hand, broke into the top 10 wealthiest individuals ranking in the IIFL Wealth Hurun India Rich List 2020. READ MORE

2:46 PM

MF distributor or registered investment advisor: Whom should you choose?

If you need an expert handholding to invest your money to achieve your financial goals, you might face the dilemma of whom to approach – a Registered Investment Advisor (RIA) or a distributor.
 

Securities Exchange Board of India (Investment Advisors) (Amendment) Regulations that kick in on October 1, 2020, has made a clear distinction between an RIA and a mutual fund distributor and has segregated the two activities. READ MORE

2:43 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI GREEN	714.20	714.20	5.00
APL APOLLO TUBES	2840.00	2879.95	1.60
APOLLO HOSPITALS	2090.60	2112.95	1.48
BALKRISHNA INDS	1470.00	1497.15	1.48
BERGER PAINTS	581.00	599.50	-1.07

2:36 PM

KEC Int'l trades higher for fourth straight day, stock nears 52-week high

Shares of KEC International were trading higher for the fourth straight day, up 5 per cent at Rs 349 on the BSE on Tuesday. The stock of the heavy electrical equipment company was trading close to its 52-week high level of Rs 359 touched on September 15, 2020. In the past four days, it has rallied 14 per cent on the BSE, BSE data show. READ MORE

2:27 PM

MARKET CHECK | Sensex up 136 pts

2:27 PM

Walmart in talks to invest $25 bn in Tata Group's 'super app': Report

According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report. READ MORE

2:19 PM

BROKERAGE VIEW | ICICI Securities on Laurus Labs

Shares of Laurus Labs have been split on September 29, 2020 (ex-date) pursuant to the board and shareholder approval granted for sub-division of shares in its meetings on April 30, 2020, and July 9, 2020, respectively. The record date for the same has been fixed as September 30, 2020. Subsequently, the shares of the company have been split in the 1:5 ratio — an equity share with the existing face value of Rs 10 has been sub-divided into five equity shares of Rs 2 face value each. Consequently, the share price has changed to Rs 292/share from Rs 1,460/share. Accordingly, our target price has also been revised to Rs 325/share from Rs 1,620/share earlier. After the recent run-up, the stock offers limited upside from here on. We change our recommendation from BUY to HOLD. Our target price is based on 22x FY23E EPS (revised) of Rs 14.7.

2:13 PM

RIL up over 1%

2:06 PM

Rupee Closing

Rupee ends at 73.85 per US dollar vs Monday's close of 73.78/$

2:04 PM

BROKERAGE VIEW | ICICI Securities on Supreme Industries

RATING: BUY | TARGET PRICE: Rs 1,650

Supreme Industries’ sharp business recovery post easing of lockdown restrictions depicts its strong supply chain networks and deep rural penetration. We change our rating from HOLD to BUY and value the company at 35xFY22E earnings with a revised target price of Rs 1,650/share.

1:54 PM

GMM Pfaudler freezes at 5% upper circuit after declining 42% in 2 weeks

Shares of GMM Pfaudler were locked in the 5 per cent upper circuit band at Rs 3,821 on the BSE on Tuesday, rebounding 11 per cent from its early morning low of Rs 3,458 a piece. The stock reversed its recent correction when it fell over 40 per cent in the past two weeks. The stock of the company which manufactures glass-lined equipment for the pharmaceutical and chemical industries, has fallen below its offer-for-sale (OFS) price of Rs 3,500 per share. READ MORE

1:47 PM

BROKERAGE VIEW | Edelweiss Securities on Welspun India

With consumers continuing to loosen their purse strings in the US and lower inventory levels at global retailers driving restocking, we revise up WLSI’s utilisation estimates and thus FY21/22E EBITDA 3%/1%. The company’s valuations had contracted given the uncertainty triggered by Covid. However, a sharper-than-expected normalisation and the company’s leadership during this phase compel us to revise up target multiple to 7.0x EV/EBITDA (FY22E)--its pre-Covid five years’ average. Hence, we revise up TP to Rs 75 (Rs 48 earlier). We maintain ‘BUY’.

1:39 PM

TOP SECTORAL LOSER:: Nifty PSU Bank index dips 3%

1:31 PM

NEWS ALERT | Bharti Airtel to hold press conference at 1:30 pm tomorrow: CNBC TV18

1:30 PM

European indices trade lower in early deals

1:23 PM

Sept Auto Sales :: Emkay Global expects upward trajectory to continue in Tractors, PVs and 2Ws

1:15 PM

Strides Pharma hits a fresh 52-week high; stock gains 14% in one week

The stock of the pharmaceutical company has rallied 14 per cent in the past one week after its subsidiary, Strides Pharma Global Pte Ltd, received approval from the United States Food and Drug Administration (USFDA) for Butalbital, Acetaminophen, and Caffeine tablets, used to treat tension ((or muscle contraction) headache. READ MORE 

1:05 PM

NEWS ALERT :: SBI Card ties up with American Express

>>  SBI Card and American Express have entered a strategic partnership to offer a mix of global benefits and exclusive privileges for discerning consumers in India. With this partnership, SBI Card`s top end premium products – SBI Card ELITE and SBI Card PRIME will be available on American Express’ global network.

via BSE filing

12:57 PM

Chemcon Speciality Chemicals, CAMS IPO: Check allotment status here

The bumper response to the intial public offers (IPOs) of Chemcon Speciality Chemicals and Computer Age Mamagement Services (CAMS), has raised hopes for their stellar listing at the bourses, likely on October 1. The allotment of shares for these two IPOs has been finalised and investors may check the status either on the BSE website or on Link Intime India. CHECK HERE

12:47 PM

SBI Cards: Analysts see more upside given distribution network, biz model

The stock of State Bank of India subsidiary has staged a steady northward journey since its listing on March 16, 2020. After a minor blip on May 22, when it touched its 52-week low of Rs 495 apiece, the stock is up an impressive 72 per cent including today’s intra-day gain, ACE Equity data show. In the past two months, the stock has rallied 15 per cent from on the BSE as against a 5 per cent rise in the benchmark S&P BSE Sensex. READ MORE

12:36 PM

Apollo Hospitals up over 2%

12:26 PM

Sebi, not EOW, should handle mutual fund issues: Franklin Templeton

Franklin Templeton Asset Management India (FTAMIL) has said the Securities and Exchange Board of India (Sebi) -- rather than the Economic Offences Wing (EOW) – should deal with issues related to mutual fund investments. “We have the utmost respect for all statutory authorities, including EOW. However, we believe that Sebi, the specialised regulator for the securities market, is best placed to handle any issues related to mutual fund investments,” Templeton said in a note to unitholders on Monday. READ MORE

12:13 PM

Top losers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	9.73	-5.90
ALOK INDUSTRIES	20.60	-4.63
BANK OF BARODA	41.70	-3.81
SYNGENE INTL.	566.25	-3.72
BHARTI INFRATEL	178.95	-3.69

12:01 PM

IndusInd Bank trades over 3.5% lower