Page 2058 - Markets News
Stove Kraft shares gain 16% on debut after touching high of Rs 496
Close at Rs 456; stock currently trades at about 25x its estimated earnings for FY21-similar to Butterfly Gandhimati but almost half that of TTK Prestige
 "Stove Kraft shares gain 16% on debut after touching high of Rs 496")
Govt, RBI's in-sync approach to economic growth inspires confidence
Street expecting across-the-board earnings acceleration in FY22
 "Govt, RBI's in-sync approach to economic growth inspires confidence")
Sensex, Nifty post highest weekly gain since April as Budget fuels optimism
The Nifty gained 1,289 points, or 9.5 per cent, during the week and ended at 14,924. In intra-day trade, the blue chip index of 50 companies surpassed the coveted 15,000-mark
 "Sensex, Nifty post highest weekly gain since April as Budget fuels optimism")
Mahindra's Q3 net zooms 40% on robust tractor sales, cost control
Impairment booked on account of Ssangyong dented net profit
 "Mahindra's Q3 net zooms 40% on robust tractor sales, cost control")
Sebi bars Money Plus Research, proprietor from securities for 2 yrs
Among other directions, they have been asked to refund the money received from the clients/ investors as fees or consideration or in any other form in respect of their unregistered investment advisory
 "Sebi bars Money Plus Research, proprietor from securities for 2 yrs")
RBI likely to let market determine 10-year bond yields, say analysts
This would indicate that the Reserve Bank is moving towards a new equilibrium for yields, something Governor Shaktikanta Das considers as a "public good"
 "RBI likely to let market determine 10-year bond yields, say analysts")
Market Wrap, Feb 5: Here's all that happened in the markets today
BSE Sensex surpassed the 51,000-mark on the BSE for the first time and hit a fresh record high of 51,073
 "Market Wrap, Feb 5: Here's all that happened in the markets today")
SBI hits record high post Q3 results; CLSA lists 3 triggers for re-rating
CLSA has raised its target price on SBI's stock by an impressive 45.45 per cent to Rs 560 from Rs 385. This also reflects a 58 per cent upside from the stock's market price as on Thursday
 "SBI hits record high post Q3 results; CLSA lists 3 triggers for re-rating")
Sensex ends 117 pts up, logs best weekly gain in 10 months; SBI jumps 11%
The broader markets, however, came under selling pressure. The S&P BSE MidCap and SmallCap indices ended 0.93 per cent and 0.28 per cent lower, respectively
 "Sensex ends 117 pts up, logs best weekly gain in 10 months; SBI jumps 11%")
MSTC hits new high on the back of heavy volumes; zooms 92% thus far in 2021
The stock hit a record high of Rs 314.65, up 19% on the BSE, in the intra-day trade today
 "MSTC hits new high on the back of heavy volumes; zooms 92% thus far in 2021")
PSP Projects soars 12% on additional work order worth Rs 236 crore
The company has received an additional work order worth Rs 236 crore (including GST) for an institutional project at Gujarat
 "PSP Projects soars 12% on additional work order worth Rs 236 crore")
RBI Monetary Policy: Rate sensitive sectors may have been disappointed
The MPC meet outcome is neutral to different sectors. Although some sectors were eyeing for cut in rates, this was impractical going by the large spend envisaged by the Budget
 "RBI Monetary Policy: Rate sensitive sectors may have been disappointed")
Mahindra & Mahindra Q3 net profit up 42% at Rs 1,268 cr; revenue grows 11%
The company's reported Ebitda came in at Rs 3,520.4 crore for the quarter under review
 "Mahindra & Mahindra Q3 net profit up 42% at Rs 1,268 cr; revenue grows 11%")
Zee Entertainment plunges 15% on profit booking on margin concerns
With high investment proposed in content from FY22 onwards, operating margins and cash flows could remain lower, say analysts
 "Zee Entertainment plunges 15% on profit booking on margin concerns")
ITC hits new 52-week high, up 18% in 5 days; board to mull interim dividend
The stock jumped 4 per cent in Friday's intra-day trade to hit 52-week high of Rs 239 on the BSE
 "ITC hits new 52-week high, up 18% in 5 days; board to mull interim dividend")
Bajaj Electricals surges 18%, hits new high on robust Q3 results
The company's consumer product business has delivered a strong growth in this quarter despite continuing supply challenges and increase in commodity prices
 "Bajaj Electricals surges 18%, hits new high on robust Q3 results")
Stove Kraft off to a strong start, lists at 29% premium over issue price
The initial public offering of Stove Kraft had received good response from investors with the issue garnering 18 times subscription
 "Stove Kraft off to a strong start, lists at 29% premium over issue price")
SBI has crossed its decade-old resistance; set to hit Rs 800 levels
The stock hit a lifetime high of Rs 408 apiece in intraday deals on Friday, up 15 per cent on the BSE, as against a 0.7 per cent rise in the S&P BSE Sensex
 "SBI has crossed its decade-old resistance; set to hit Rs 800 levels")
PSU Bank index up 31% in 1 wk on strong SBI Q3 results, privatization hope
SBI, Indian Bank, Bank of Baroda, Canara Bank, Punjab National Bank and Bank of India were rallied between 25 per cent and 50 per cent in past one week.
 "PSU Bank index up 31% in 1 wk on strong SBI Q3 results, privatization hope")
Stocks to watch: Stove Kraft, Hero Moto, Britannia, M&M, Biocon, Tata Power
IRFC has sold $750 million worth of dollar-denominated bonds to overseas investors priced at a coupon of just 2.80 per cent per annum