RIL, IT stocks help Sensex settle 195 pts higher; Nifty ends above 12,900

All that happened in the markets today

3:43 PM

MARKET AT CLOSE | Nifty IT gains nearly 3%

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 rallied 195 points, or 0.44 per cent higher to 44,077 levels while NSE's Nifty ended at 12,926, up 67 points, or 0.52 per cent.

3:29 PM

MARKET CHECK

3:22 PM

Infosys gains 4%, nears record high amid report Co may win Daimler deal

Shares of Infosys moved higher by 4 per cent to Rs 1,144 on the BSE in intra-day trade on Monday amid a report that the company has emerged as the front runner for a multi-year, $1.3 billion deal from Daimler. The deal involves transferring of 500-600 Daimler employees to the information technology (IT) firm and is focused on infrastructure management services, networks, and data centres, The Times of India reported. READ MORE 

3:07 PM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
EQUITAS HOLDINGS	63.40	19.96
I D F C	40.10	19.88
UJJIVAN SMALL	40.40	19.88
UJJIVAN FIN.SER.	292.80	17.68
J & K BANK	23.91	16.52

3:01 PM

Tata, Birla, Bajaj, and Piramal Group may lead race for bank licence

Top Indian conglomerates led by Tata, Birla, Piramal, and Bajaj will seek a banking licence provided the norms for conversion of non-banking finance companies (NBFCs) are made easier and comprehensive regulation does not apply to rest of the group firms, sources said. READ MORE

2:55 PM

BUZZING STOCK:: ONGC surges 8%

2:55 PM

Investing tips by Shyam Sekhar

2:50 PM

NEWS ALERT :: Eurozone economy in 'steep downturn', reports AFP quoting key survey

2:46 PM

Apollo Tyres lines up capital expenditure of Rs 2,600 cr for FY21, FY22

Apollo Tyres is planning for a capex of around Rs 2,600 crore for the current and the next fiscal. The company said demand continues to be positive abetween nd with its factories running at between 85% and 90% utilisation, it was bullish about the third and fourth quarters. READ MORE

2:42 PM

Auto ancillary stocks rally; Amara Raja, MRF, Balkrishna Ind hit 52-wk high

Shares of auto ancillary companies were in focus on Monday with MRF, Balkrishna Industries, Amara Raja Batteries and Jamna Auto hitting their respective 52-week highs on the expectation of strong revenue growth. The July-September quarter (Q2FY21) was marked by a sharp rebound for the auto sector from the washout Q1FY21 performance. Demand outstripped supply for major players as production, distribution levels climbed to successively higher levels throughout. Dispatches picked up sharply in September in the run-up to the festive period. READ MORE

2:36 PM

Strides Pharma Science gets USFDA nod for generic Prednisone tablets

2:29 PM

Proposed corporate ownership of Indian banks poses high risks, says S&P

“We are, however, skeptical of allowing corporate ownership in banks given India's weak corporate governance record amid large corporate defaults over the past few years”, S&P said in statement.
 

Moreover, RBI will face challenges in supervising non-financial sector entities and supervisory resources could be further strained at a time when the health of India's financial sector is weak. READ MORE

2:21 PM

S&P BSE SmallCap index up over 1%

2:14 PM

MARKET UPDATE | Nifty hits fresh intra-day record high of 12,969

2:12 PM

Explained :: What justified the delisting of Lakshmi Vilas Bank's shares

Ever since investors were made aware of the Reserve Bank of India’s (RBI’s) stand to delist the shares of beleaguered Lakshmi Vilas Bank, it has invoked negative response from all sections. While the angst of the investors is understandable, one needs understand the possible logic in a move of this nature. Sample this, from -0.88 per cent tier-1 capital as on March 31, 2020, its plunged to -4.85 per cent by September 30,2020. READ MORE

2:02 PM

GLOBAL MARKETS CHECK:: Asian indices hold gains

1:58 PM

Tata Steel, JSW Steel: Metal stocks poised for further upside, charts show

NIFTY METAL: After successfully conquering the 100-weekly moving average (WMA) at 2,500 mark, the index is set to move towards 200-WMA, which comes at 2,969 levels, as per the weekly chart. This move has a support of 2,600 on the downside. The trend is highly positive with the Relative Strength Index (RSI) witnessing buying momentum in an overbought condition, as per the daily chart. READ MORE 

1:55 PM

Motherson Sumi nears 52-week high after it unveils 5-yr restructuring plan

Shares of Motherson Sumi Systems (MSSL) advanced 5 per cent to Rs 146.30 on the BSE in the intra-day trade on Monday after the company outlined its next five year plan, Vision 2025. The stock of the auto ancillary company was trading close to its 52-week high level of Rs 151 touched on January 9, 2020. At the analyst meet held recently, Motherson Sumi Systems said that it is targeting $36 billion in group revenues by FY25E, including 25 per cent contribution from non-automotive space. READ MORE

1:44 PM

MARKET CHECK

1:36 PM

Credit risks rising for infrastructure projects in India, says S&P

The hit to the Indian infrastructure sector from Covid-19 pandemic will continue to be felt in 2021 even as the economy revives following the lifting of the country-wide lockdown, according to rating agency Standard & Poor’s. Credit risks are rising because of increasing debt levels and a weakening of counter parties. Rrefinancing remains difficult for speculative grade-rated issuers, the rating agency said in its presentation "India's Infrastructure Recovery Won't Be Quick". READ MORE

1:25 PM

Sebi mulls lower dilution, 5 years for achieving 25% float for large IPOs

The country’s markets regulator on Friday proposed changes to the rules governing initial public offerings (IPO) to encourage issuances by large companies. Under the new framework, big firms may be able to list with just 5 per cent dilution and get more time to achieve the 25 per cent minimum public shareholding requirements. READ MORE

1:25 PM

Cement stocks gain in a volatile market

COMPANY	LATEST(rs)	CHG(%)
INDIA CEMENTS	149.95	1.59
AMBUJA CEMENTS	259.70	0.97
ACC	1754.00	3.94
STAR CEMENT	89.05	3.97
HEIDELBERG CEM.	201.65	2.02

1:15 PM

Oil prices extend gains on coronavirus vaccine hopes, OPEC+ output check

Oil prices extended gains on Monday as traders eyed a recovery in crude demand thanks to successful coronavirus vaccine trials, although prices were contained by renewed lockdowns in several countries. Sentiment was also bolstered by hopes that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, will keep crude output in check. READ MORE

1:09 PM

Market Voice :: Shyam Sekhar on price discovery of stocks

12:59 PM

Small towns account for 16% of MF asset base

B30 (beyond top 30 cities) accounted for 16 per cent of the total industry Average Assets Under Management (AAUM) in October this year, and the balance was contributed by T30 cities, or the top 30 locations in India, the Association of Mutual Fund Industry (Amfi) said. READ MORE

12:48 PM

NEWS ALERT :: AstraZeneca/Oxford say Covid vaccine shows 70% efficacy, reports AFP

>> AstraZeneca says one-dosing regimen showed #vaccine efficacy of 90% when it was given as a half dose, followed by a full dose at least 1 month apart & another dosing regimen showed 62% efficacy when given as two full doses at least one month apart.

>> To seek Emergency Use Authorisation from WHO soon

12:42 PM

Nifty Energy Index rises 2%

12:32 PM

Stocks that hit 52-week high on BSE today in an otherwise volatile market

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ACC	1740.00	1749.40	3.11
ADANI GAS	346.50	366.15	0.35
ADANI GREEN	1157.70	1177.40	1.95
AFFLE INDIA	3305.75	3305.75	5.00
AMARA RAJA BATT.	869.15	878.15	1.15