MARKET: Maruti, HDFC help Sensex settle 127 pts higher; Nifty tops 11,900

All that happened in the markets today

2:28 PM

MARKET UPDATE | India VIX slips 3% to 22 levels

2:21 PM

Rupee Closing

Rupee settles lower at 73.62 per US dollar vs Thursday's close of 73.53/$ 

2:13 PM

USFDA approves Remdesivir as first Covid-19 therapy amid WHO reservations

Even as the World Health Organisation (WHO) trial showed that remdesivir did not have any significant impact on hospitalised Covid-19 patients, the US drug regulator has now approved this drug from Gilead for treatment of Covid-19 requiring hospitalisation. This becomes the first treatment of Covid-19 that got FDA approval, but is unlikely to have any immediate impact on the prices of the drug. READ MORE  

 

2:11 PM

Power Grid jumps over 3.5%

2:03 PM

Tyre stocks on a roll. JK Tyre soars 27% in 2 days, Ceat hits 52-week high

Shares of tyre companies were on a roll for the second straight day with JK Tyre ralling 27 per cent in past two trading days, after the company reported a strong operational performance with margins hitting a four year high of 15.6 per cent in July-September quarter (Q2FY21). At 01:29 pm, JK Tyre & Industries was trading 10 per cent higher at Rs 76.70 on the BSE. Volumes jumped over five-fold. A combined 9.5 million equity shares have already changed hands on the counter on the NSE and BSE. In comparison, the S&P BSE Sensex was up 0.40 per cent at 40,721 points. READ MORE

1:50 PM

BROKERAGE VIEW | IDBI Capital on Bajaj Auto

RATING: HOLD | TARGET PRICE: Rs 2,890

We cut our volume estimates for FY21/FY22 by 6%/4% factoring the slowdown in 2W/3W domestic market. We introduce our FY23 estimates and anticipate revenue and earnings to grow at ~4% and ~1% CAGR over FY20-FY23E with EBITDA margin of ~17%. We have arrived FY23E EPS at Rs192.5, factoring in volume growth/better realizations. We change our rating to HOLD (earlier REDUCE) and arrive at a TP of Rs 2,890 (earlier Rs 2,680) based on PER of 15x FY23E EPS.

1:48 PM

Left out of on-tap TLTRO benefits, NBFCs approach RBI for inclusion

After being left out as a beneficiary of the on-tap targeted long-term repo operations (TLTRO), non-banking financial companies (NBFCs) have requested the Reserve Bank of India (RBI) to allow banks to use money drawn from this liquidity window for lending to them. Along with its monetary policy review, the RBI had earlier this month announced an on-tap TLTRO scheme to ensure that credit reaches the deserving sectors of the economy. While sectors including agriculture, MSME and retail are covered, NBFCs have not been included as a beneficiary of the facility, Finance Industry Development Council (FIDC) said in a communication to RBI. READ MORE

1:35 PM

European indices open higher

(Source: Reuters)

1:30 PM

Sept Quarter Result | IDBI Bank reports profit of Rs 320 cr vs loss of Rs 3,460 cr

>> Provisions decline from Rs 5,640 cr to Rs 580 cr

1:25 PM

NEWS ALERT :: Surya Roshni bags orders worth Rs 137.1 cr from ONGC, HPCL & Gujarat Gas

1:19 PM

Result Today :: Tech Mahindra's Q2 profit may slip up to 14.7% YoY

Tech Mahindra, the Pune-headquartered information technology (IT) services company, is expected to post up to 2.3 per cent quarter-on-quarter (QoQ) revenue growth in constant currency for the quarter ended September 30 (Q2FY21). Further, analysts expect up to 250 basis points (bps) increase in earnings before interest, and tax (Ebit) margin on a sequential basis owing to lower sub-contracting cost, easing of supply-side pressure, and cost rationalisation. The company is slated to announce its Q2 numbers on Friday, October 23. READ MORE

1:11 PM

Indo Count Industries extends rally on strong September quarter results

Shares of Indo Count Industries were locked in upper circuit for the fourth straight day, up 5 per cent at Rs 163.50 on the BSE on Friday, after the company reported a strong set of July-September quarter (Q2FY21) numbers. The textiles company's stock was trading at its 52-week high level and has rallied 48 per cent in the past two weeks. READ MORE

12:59 PM

Tata Elxsi hits fresh record high; stock surges 42% in one month

On October 14, 2020, Tata Elxsi had reported a strong 58.4 per cent year on year (YoY) growth in net profit at Rs 79 crore in the July-September quarter (Q2FY21). The company's operational revenues grew 11.5 per cent YoY at Rs 430 crore. The company's growth was driven by both its key businesses – Embedded Product Design (EPD) and Industrial Design & Visualisation (IDV). READ MORE

12:53 PM

BUZZING STOCK :: SpiceJet soars 7%

12:45 PM

IPOs come out of deep freezer as market revives, liquidity eases

Several firms that had filed their offer documents last year but given up on their listing plans due to disruptions caused by the pandemic are getting a new lease of life. The success of recent initial public offerings (IPOs) and the stability in the secondary market are propelling many firms and investment bankers to remove their IPO plans out of the deep freezer. READ MORE