Home >Markets >Stock Markets >Markets end higher for fifth straight session; Sensex, Nifty surge 1.3% each
Stocks markets world over have pinned their hopes on a coronavirus vaccine and economic stimulus.
Stocks markets world over have pinned their hopes on a coronavirus vaccine and economic stimulus.

Markets end higher for fifth straight session; Sensex, Nifty surge 1.3% each

  • Power Grid, HDFC, ICICI Bank, Maruti among top gainers on Sensex
  • On the Nifty, 32 stocks advanced, while the rest declined

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21 Jul 2020, 03:46:25 PM IST

Bulls push Sensex, Nifty to close higher for 5th straight day

Indian equities closed higher for the fifth straight session on Tuesday, which saw the Sensex eyeing 38,000 intraday.

The Sensex surged 511.34 points or 1.37% at 37,930.33, while Nifty added 140.10 points or 1.27% at settle at 11162.30. About 1427 shares advanced, 1223 declined, and 155 were unchanged.

Power Grid Corp, Indian Oil Corp, Bharat Petroleum Corp Ltd, Eicher Motors and Maruti Suzuki were among major gainers on the Nifty, while Bajaj Finance, Bajaj Finserv, Britannia, Bharti Infratel and Cipla lagged.

Auto, bank, energy, metal and infra stocks largely ended higher, while pharma and FMCG stocks were under pressure.

The S&P BSE MidCap index gained 0.78% while the BSE SmallCap index rose 0.8%.

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21 Jul 2020, 03:32:07 PM IST

HDFC Life Insurance June quarter results: PAT up 6%


The company reported a 6% year-on-year rise in fiscal first quarter net profit to 451 crore while renewal premium was up 24% at 3,239 crore. New business premium, however, fell 33% to 2,623 crore.

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21 Jul 2020, 03:21:27 PM IST

Russia claims its coronavirus vaccine is ready for use: Bloomberg

A covid-19 vaccine developed with the Russian Defense Ministry completed phase 2 trials, leading First Deputy Defense Minister Ruslan Tsalikov to say the first domestic inoculation is ready for use, Bloomberg reported.

A second group of volunteers ended phase 2 trials Monday, with everyone developing immunity from the coronavirus and feeling fine, Tsalikov said in an interview with Argumenty i Fakty newspaper published Tuesday. He didn’t say when phase 3 large-scale trials would take place or when production of the vaccine may begin.

21 Jul 2020, 03:11:40 PM IST

It will be years before we see full recovery of global travel demand: Booking.com

21 Jul 2020, 03:05:58 PM IST

Rajasthan HC order on dissident Congress MLAs' petition to be pronounced on Friday : PTI

21 Jul 2020, 02:51:57 PM IST

SBI Life Insurance June quarter results

The company reported a 5.1% year-on-year rise in its June quarter net profit to 391 crore from 372 crore. Gross written premium was up 14% at 7,640 crore while value of new business fell 29% to 240 crore.

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21 Jul 2020, 02:47:16 PM IST

Bajaj Finserv among top losers on Sensex

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21 Jul 2020, 02:45:21 PM IST

Nifty PSU Bank index best performer among sectoral indices

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21 Jul 2020, 02:43:38 PM IST

Nokia rolls out 5G networks for industrial clients: Reuters

Nokia on Tuesday rolled out new 5G stand-alone wireless networks for industrial clients and unveiled an order to build one for mining technology firm Sandvik at its site in Tampere, Finland.

"We're paving the way to accelerate digitalization in the most demanding of use cases such as automotive manufacturing, where cloud, robotics and autonomous machine operations create mission-critical demands for reliable low latency and high data rates," said Raghav Sahgal, head of Nokia's Enterprise unit.

Mobile technologies' role in manufacturing industries is growing fast and, with stand-alone networks, industrial clients are becoming independent in their onsite connection needs.

21 Jul 2020, 02:42:13 PM IST

LinkedIn cuts 960 jobs as pandemic puts brakes on corporate hiring

Microsoft Corp's professional networking site LinkedIn on Tuesday said it would cut about 960 jobs, or 6% of its global workforce, as the coronavirus pandemic is having a sustained impact on demand for its recruitment products, Reuters reported.

California-based LinkedIn helps employers assess a candidate's suitability for a role and employees use the platform to find new job.

Jobs will be cut across sales and hiring divisions of the group globally. Announcing the plan in a message posted on LinkedIn's website, chief executive Ryan Roslansky said the company would provide at least 10 weeks of severance pay as well as health insurance for a year for US employees, and will hire for newly-created roles from laid-off staff.

21 Jul 2020, 02:38:06 PM IST

Stocks with top turnover on BSE

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21 Jul 2020, 02:37:18 PM IST

Railways invites proposal to re-develop Bhuj station

Rail Land Development Authority, a statutory body under railways ministry, has invited proposals to appoint a consultant to redevelop the Bhuj railway station in Gujarat.

The station will be redeveloped under public private partnership model.

The consultant will have to conduct feasibility study, finalise master planning, urban designing, engineering and preparation of a detailed project report. The last date for applying for participation in the bidding process is 12 August.

21 Jul 2020, 02:35:18 PM IST

Vikram Solar to invest $726 million to make solar equipment

Vikram Solar Ltd. plans to invest 54.32 billion rupees ($726 million) to manufacture solar energy equipment in India, which has been encouraging domestic manufacturing to reduce imports, Bloomberg reported.

The company will build a factory in Tamil Nadu, the state government has said. The 3-gigawatt plant, expected to be completed in five years, will make wafers, cells and modules, Kolkata-based Vikram Solar said in a separate statement.

21 Jul 2020, 02:32:43 PM IST

Top losers on BSE

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21 Jul 2020, 02:29:54 PM IST

Top gainers on BSE

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21 Jul 2020, 02:26:00 PM IST

Bajaj Finance worst hit among Sensex stocks

Bajaj Finance on Tuesday reported a 19% year-on-year decline in its June quarter consolidated net profit to 962 crore from 1,195 crore, while net interest income rose 12% at 4,152 crore.

The company said the covid-19 pandemic resulted in significantly lower business acquisition and constraints on recovery of overdues from customers during the quarter.

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21 Jul 2020, 02:17:00 PM IST

Rupee ends higher

The Indian rupee ended higher at 74.74 per dollar on Tuesday, amid advances in domestic equities. It had opened at 74.80 per dollar compared with previous close of 74.91.

21 Jul 2020, 02:14:18 PM IST

Most active stocks on Nifty

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21 Jul 2020, 02:10:17 PM IST

Domestic MFs halve NBFCs debt holdings as crisis persists: Bloomberg

Indian mutual funds have halved their holdings of debt sold by non-banking financial companies (NBFCs) in the two-year period to June after defaults by some major financiers, according to data from Securities and Exchange Board of India.

NBFCs are important lenders to smaller businesses, and policymakers have rolled out measures to support the financiers in recent months, helping to bring down their borrowing costs. It remains to be seen, however, if those initiatives will be enough, with asset managers wary of their bonds and the pandemic threatening to increase their bad debt loads.

21 Jul 2020, 01:55:19 PM IST

Possible but not certain COVID-19 vaccine rolled out this year - Oxford developer

The University of Oxford's covid-19 vaccine candidate could be rolled out by the end of the year but there is no certainty that it will happen, Reuters reported citing the lead developer of the vaccine.

The experimental vaccine, which has been licensed to AstraZeneca, produced an immune response in early-stage clinical trials, data showed on Monday, preserving hopes it could be in use by the end of the year.

"The end of the year target for getting vaccine rollout, it's a possibility but there's absolutely no certainty about that because we need three things to happen," Reuters quoted Sarah Gilbert as saying to BBC Radio.

21 Jul 2020, 01:53:02 PM IST

European stocks higher on EU stimulus deal, vaccine hope

European stocks were higher after EU leaders of the region reached a "historic" stimulus deal to shore up economies battered by the pandemic.

Investors hope that the 750-billion-euro recovery fund and its related 1.1-trillion-euro 2017-2021 budget will help against the continent's deepest recession since World War Two.

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21 Jul 2020, 01:42:40 PM IST

Nepal to resume international flights from 17 August: Reuters

Nepal will allow regular international airline flights from 17 August, a minister said on Tuesday, nearly four months after suspending them to curb the spread of coronavirus pandemic.

Wedged between China and India, Nepal enforced a nationwide lockdown, halting scheduled flights, in March, when reported its first confirmed cases of covid-19.

21 Jul 2020, 01:34:13 PM IST

Nifty pharma worst hit among sectoral indices

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21 Jul 2020, 01:32:29 PM IST

Rajiv Gandhi assassination convict Nalini attempts suicide in Vellore prison: ANI

Nalini Sriharan, a convict in the Rajiv Gandhi assassination case, allegedly attempted suicide inside the Vellore Women's prison on Monday night, her lawyer said on Tuesday.

"Yesterday night, we received information that Nalini attempted to commit suicide in prison. Immediately, we enquired from police officials and prison officials. They said that the information is correct," Advocate P Pugalenthi told ANI here.

Pugalenthi alleged torture by jail officials and urged the authorities and Tamil Nadu Chief Minister to transfer Nalini to another prison anticipating a threat to her life.

21 Jul 2020, 01:30:25 PM IST

Google Lens for text translation now available on Jiophone's KaiOS

Google Lens--the camera-based translation solution from Google--is now available on the feature phone operating platform KaiOS, used by Reliance Jio's Jiophone. This announcement comes a week after Google invested $4.5 billion for a stake in Jio Platforms, the tech subsidiary of Reliance Industries Limited.

21 Jul 2020, 01:23:41 PM IST

Global oil prices rise on vaccine hope

Oil prices edged higher on Tuesday, helped by positive news about vaccine trials and a European Union stimulus deal but gains were capped by fears that new lockdowns could derail a recovery in demand, Reuters reported.

Benchmark Brent crude was up 31 cents at $43.59, while West Texas Intermediate (WTI) gained 19 cents to $41.00. The closing prices of both have traded within a $2 channel so far in July.

21 Jul 2020, 01:17:06 PM IST

NBFC Avanse Financial raises ₹250 crore

Avanse Financial Services, an education focused non-banking financial company (NBFC), on Tuesday said it has raised 250 crore through government initiatives and would utilise it for expanding its education loan offerings to both students and institutions.

Warburg Pincus promoted Avanse said, of the total, 100 crore have been raised under the RBI's targeted long term repo operation (TLTRO) window 2.0 leading public sector banks, and 150 crore under the Partial Credit Guarantee (PCG) Scheme.

21 Jul 2020, 01:13:30 PM IST

Vehicle registration for June slumps 42% year-on-year: FADA

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21 Jul 2020, 12:55:40 PM IST

Bajaj Finance June earnings

Bajaj Finance on Tuesday reported a 19% year-on-year decline in its June quarter consolidated net profit to 962 crore from 1,195 crore, while net interest income rose 12% at 4,152 crore.

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21 Jul 2020, 12:52:42 PM IST

Jubilant Life Sciences gains on DCGI nod for Remdesivir generic

Shares of Jubilant Life Sciences rose on Tuesday as the company's subsidiary has received the approval of the drug regulator for its generic version of antiviral drug Remdesivir 100 mg/vial for restricted emergency use in India for treatment of severe covid-19, the company informed the exchanges.

Jubilant Generics has received approval from the Drug Controller General of India to manufacture and market investigational drug Remdesivir 100 mg/vial (lyophilized injection).

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21 Jul 2020, 12:44:03 PM IST

Majesco to sell US arm to PE firm Thoma Bravo for ₹4,455 crore

Majesco, subsidiary of Majesco Limited, has signed a definitive agreement to be acquired by Thoma Bravo, L.P., a leading private equity firm focused on the software and technology-enabled services sectors, in a transaction valuing the company at $594 million, the company informed the exchanges.

Following the closing of the transaction, Majesco will operate as a privately-held company, it added.

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21 Jul 2020, 12:41:23 PM IST

Top gainers/losers on Nifty 50

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21 Jul 2020, 12:34:42 PM IST

Delhi government approves scheme for doorstep delivery of ration

The Aam Aadmi Party (AAP) led Delhi government on Tuesday approved a scheme – Mukhyamantri Ghar Ghar Ration Yojana - for doorstep delivery of ration. Announcing the initiative, chief minister Arvind Kejriwal said the scheme will also be synced with the central government's One Nation, One Ration Card plan for inter-state portability of ration cards.

21 Jul 2020, 12:31:06 PM IST

Arvind Lifestyle receives ₹260 crore from Flipkart for stake in group firm

Arvind Fashions on Tuesday said subsidiary Arvind Lifestyle Brands has received 260 crore from Flipkart India to pick a minority stake in another group firm - Arvind Youth Brands.

Arvind Youth Brands is Arvind Fashions' recently-formed subsidiary which will own the brand Flying Machine.

"After completion of the customary conditions precedent, Arvind Lifestyle Brands Ltd, a subsidiary of the company, received 260 crore from Flipkart India as consideration for the sale of a significant minority stake in Arvind Youth Brands, another subsidiary of the company," Arvind Fashions said in a BSE filing.

21 Jul 2020, 12:22:55 PM IST

Top gainers on BSE

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21 Jul 2020, 12:21:59 PM IST

Market check

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21 Jul 2020, 12:18:11 PM IST

Fitch affirms Indian Oil Corp ‘BBB-minus’ rating with negative outlook

Fitch Ratings has affirmed Indian Oil Corporation's (IOC's) long-term foreign-currency issuer default rating at BBB-minus with a negative outlook, news agency ANI reported.

The agency has also affirmed IOC's senior unsecured rating and the ratings on its outstanding senior unsecured debt at BBB-minus.

Fitch said it equates IOC's rating with that of its largest shareholder, the state of India (BBB-minus with a negative outlook), based on its government-related entities rating criteria.

"We have maintained IOC's standalone credit profile (SCP) at bb-plus as we expect net leverage to improve to a level that is in line with the SCP from the financial year ending March 2022 after deteriorating to levels well above where we would consider revising the SCP downwards in FY20-21," said Fitch.

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21 Jul 2020, 12:09:34 PM IST

SpiceJet acqui-hires ixigo’s Travenues subsidiary

Budget carrier and air cargo operator SpiceJet has aqui-hired the team and technology of Bengaluru based airline technology company Travenues, which is a wholly owned subsidiary of Gurugram-based online travel aggregator ixigo.

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21 Jul 2020, 12:07:09 PM IST

HDFC Life's capital raising committee to meet 23 Jul for proposed ₹600 cr fundraising plan

The capital raising committee of HDFC Life Insurance Company will meet on Thursday to consider raising funds up to 600 crore through issuance of debentures.

The committee will consider and approve the proposed issuance of up to 6,000 unsecured, rated, listed, subordinated, redeemable, non-convertible fully paid-up debentures of the aggregate nominal value of up to 600 crore, the company said in a filing to the stock exchanges.

The private sector life insurer said it will raise the money in one or more tranches, on private placement basis, subject to regulatory and other approvals.

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21 Jul 2020, 12:03:42 PM IST

Novartis trims 2020 sales forecast on pandemic disruption: Bloomberg

Novartis AG has trimmed its sales forecast for the year as the pandemic hit demand for the eye drug Lucentis and other medicines, Bloomberg reported.

Sales are expected to grow by a mid-single-digit percentage, the Swiss drugmaker said Tuesday, narrowing an April forecast that ranged up to the high-single digits. Earnings excluding some items will likely increase by a low-double-digit percentage, according to a statement, the upper end of the earlier guidance.

Lockdown stockpiling that boosted drugmakers’ sales at the beginning of the pandemic has started to wane as the outbreak drags on.

21 Jul 2020, 11:57:36 AM IST

Sensex contributors

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21 Jul 2020, 11:52:19 AM IST

Zoom to open Bangalore tech center, hire engineers and other employees

Popular video collaboration platform, Zoom, is opening a new technology center in Bengaluru, India. The company already has an office in Mumbai, and said it will hire “key talent" over the next few years in India across the country. Zoom expects the Mumbai office to triple in size and said it has seen 6700% growth in free user sign ups from India between January and April 2020.

The Bangalore tech center will support Zoom’s global engineering efforts based in its San Jose headquarters in the US. The company said it will be hiring engineers and IT talent in Bangalore and recruiting DevOps engineers, IT, security and business operations headcount in the area. According to LinkedIn listings, Zoom is currently looking for a business development manager in India for its Mumbai office.

21 Jul 2020, 11:47:37 AM IST

Den Networks jumps nearly 10% on robust June quarter earnings

Cable and broadband services provider Den Networks on Tuesday reported an over four-fold jump in its consolidated net profit to 58.32 crore for the quarter ended June, helped by lower expenses.

The company had posted a consolidated profit after tax (PAT) of 14.31 crore in the corresponding period of previous fiscal.

Total income was at 364.46 crore compared with 364.39 crore in the year-ago period, Den Networks said in a regulatory filing.

Expenses fell 12.7% year-on-year 302.95 crore.

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21 Jul 2020, 11:38:23 AM IST

Govt may slash AGR licence fee for wireless broadband to Re 1: Business Standard

The Union Cabinet may soon take up the proposal seeking reduction in the licence fee for wireline broadband — from 2.5% of the adjusted gross revenue to 1 of the AGR — a move aimed at proliferation of these services, Business Standard reported. It could be taken up by the Cabinet next week.

This is the relief package earmarked for the telecom sector from the Department of Telecommunications (DOT), an official said. The DoT was tasked by the Ministry of Finance to chalk out relief measures for the industry, amid the lockdown

21 Jul 2020, 11:33:50 AM IST

Glenmark defends Fabiflu pricing, says drug more economical compared to other therapies

Glenmark Pharmaceuticals Ltd defended the pricing of its generic version of favipiravir, FabiFlu, on Tuesday, after India's drug regulator sent the company a notice on overpricing.

"Compared to other therapies approved for emergency use in covid-19, FabiFlu is much more economical and an effective treatment option," the company said in a statement to the exchanges.

Glenmark also denied making any claims that "favipiravir alone" is effective in treatment of mild-to-moderate covid-19 patients.

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21 Jul 2020, 11:30:41 AM IST

Volume toppers on Sensex

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21 Jul 2020, 11:29:36 AM IST

HDFC among top gainers on Sensex, up nearly 3%

"The sufficient liquidity at low cost would be the key criteria for NBFC/Bank to navigate the current situation, as asset side inflow is limited due to moratorium. HDFC Ltd is able to raise fund at competitive rate owing to strong operating metrics, experienced management and industry’s best credit rating. HDFC Ltd is trading (Core Banking Business – 1.42x FY22ABV) at a significant discount to historical average valuations and offers favorable risk reward from current levels given global tailwinds," said brokerage firm Angel Broking.

The brokerage firm has an Accumulate rating on the stock, with a target price of 2,075 apiece.

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21 Jul 2020, 11:20:40 AM IST

Maruti top gainer among Sensex stocks

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21 Jul 2020, 11:11:40 AM IST

Nifty Auto index among best performing sectoral indices

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21 Jul 2020, 11:08:09 AM IST

ACC Ltd jumps 5% following higher-than-expected profits

Despite 40% year-on-year (y-o-y) decline to 270.95 crore, ACC Ltd's June quarter net profit exceeded Bloomberg’s consensus estimates of 244 crore. Revenues slipped by more than a third to 2,602.24 crore and were lower than the consensus forecast of 2794.4 crore. But thanks to strict control, operating margins improved both annually and sequentially. Further, the 33% y-o-y decline in cement volumes to 4.8 million tonne, was largely in-line with what was anticipated.

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21 Jul 2020, 10:59:57 AM IST

Nifty View: Sameet Chavan, chief analyst-technical and derivatives, Angel Broking

"Yesterday’s positive move in the indices was on the expected lines and the Nifty finally surpassed the 11,000-mark...As mentioned in our weekly update, this upmove should ideally extend towards the 78.6% retracement zone at 11100-11200. Hence, traders are advised to continue to trade with a positive bias and avoid taking any contra trades. Around 11,200, traders can look to book profits and take some money off the table. On the flipside, 10920-10900 is the immediate support range and traders should look for buying opportunities in any intraday declines towards the support."

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21 Jul 2020, 10:56:01 AM IST

BSE SmallCap up 0.5% at 12,984.72

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21 Jul 2020, 10:54:26 AM IST

BSE MidCap at 13,710.13, up 0.4%

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21 Jul 2020, 10:48:42 AM IST

Government's privatisation plans

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21 Jul 2020, 10:31:38 AM IST

Nifty broad market indices

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21 Jul 2020, 10:26:32 AM IST

EU nations clinch $2.1 trillion budget, virus aid deal after 4 days: AP

Weary but relieved, European Union leaders finally clinched a deal on an unprecedented 1.8 trillion-euro ($2.1 trillion) budget and coronavirus recovery fund early Tuesday, somehow finding unity after four days and nights of fighting and wrangling over money and power in one of their longest summits ever.

With masks and hygienic gel everywhere at the summit, which was spread over five days, the 27 leaders were constantly reminded of the potent medical and economic threat the virus poses to their continent, and grudgingly committed to a massive aid package for those hit hardest by the pandemic.

21 Jul 2020, 10:24:07 AM IST

Bajaj Finserv down ahead of June quarter results

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21 Jul 2020, 10:21:10 AM IST

Computer Age Management Services gets Sebi nod for IPO

Computer Age Management Services, backed by Warburg Pincus LLC and the National Stock Exchange, has received the Securities and Exchange Board of India's approval to raise an estimated 1,500-1,600 crore through an initial share sale, Moneycontrol reported.

The IPO will see sale of 1.22 crore equity shares through offer-for-sale by Great Terrain Investment, NSE Investments, Acsys Investments, HDFC and HDB Employees Welfare Trust, as per the draft papers filed with SEBI.

Market sources estimate the IPO size to be between 1,500 crore and 1,600 crore. The issue is being managed by Kotak Mahindra Capital Co Ltd, HDFC Bank Ltd, ICICI Securities Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd.

21 Jul 2020, 10:15:19 AM IST

Index heavyweight RIL advances over 1% amid gains in broader market

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21 Jul 2020, 10:13:28 AM IST

India rupee opens higher against greenback

The Indian rupee opened higher at 74.80 per dollar on Tuesday compared with the previous close of 74.91 amid positives cues from domestic equities.

21 Jul 2020, 10:08:04 AM IST

Indices extend gains

Benchmark indices extended opening gains, with the Nifty above 11,100.

At 1005am, the Sensex was up 405.85 points or 1.08% at 37,824.83, while the Nifty advanced 114.00 points or 1.03% at 11,136.20. About 1281 shares rose, 570 shares declined, and 87 were unchanged.

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21 Jul 2020, 10:03:54 AM IST

Mindspace REIT sets price band of Rs274-275 for IPO

Mindspace Business Parks REIT, owned by K Raheja group and Blackstone, on Tuesday said it has fixed a price band of 274-275 per unit for its upcoming IPO, which opens on 27 July.

The REIT, only the second in the country to aim at a public listing, plans to raise upto 1,000 crore of fresh capital, while its owner K Raheja group and Blackstone will sell units worth Rs3,500 crore through the IPO, taking the total size of the deal to 4,500 crore.

The IPO closes on 29 July.

The REIT has already received commitments of 1,125 crore from strategic investors GIC, Capital Group, Fidelity and Fullerton at the price of 275 per unit.

21 Jul 2020, 10:01:16 AM IST

Nifty PSU Bank index higher

The Nifty PSU Bank Index was the best performing sectoral index , up over 2%, after Reuters reported that the Centre is looking to privatise more than half of its state-owned banks.

Bank of India surged 8%, while Central Bank of India soared nearly 12%.

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21 Jul 2020, 09:58:33 AM IST

Axis Bank gains ahead of June quarter results

A Bloomberg poll 14 analysts have estimated the lender's June quarter income at 11.65 billion.

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21 Jul 2020, 09:55:21 AM IST

Coronavirus update: India tally

India coronavirus case count rose over the 11.5 lakh mark today, with an increase of 37,148 in the past 24 hours. Active cases saw the lowest one-day rise in four days while recoveries saw the biggest 1-day increase.

21 Jul 2020, 09:46:40 AM IST

SBI Card hit 52-week high on robust numbers

Shares of SBI Cards and Payment Services were up 4.5%, having hit their 52-week high, following robust June quarter earnings.

The company reported a nearly 14% year-on-year rise in its net profit for the period under review to 393 crore.

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21 Jul 2020, 09:42:48 AM IST

HUL ticks higher ahead of results later today

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21 Jul 2020, 09:40:53 AM IST

Market check

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21 Jul 2020, 09:34:52 AM IST

Top gainers/losers on Nifty

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21 Jul 2020, 09:31:56 AM IST

Vodafone Idea falls as SC reserves order on AGR dues payment timeline

The Supreme Court on Monday reserved its order on the timeline of staggered payments of adjusted gross revenue (AGR) related dues of telecom operators including Vodafone Idea, Bharti Airtel and Tata Teleservices. Both Vodafone Idea and Bharti Airtel have requested for a 15-year window to clear the dues, while Tata Teleservices has sought 7-10 years.

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21 Jul 2020, 09:21:31 AM IST

Indian equities surge in opening deals

Benchmark Indian equity indices opened higher on Tuesday, extending the rally from the previous day in line with global peers.

At 0916am, the Sensex was up 388.00 points or 1.04% at 37806.99, while the Nifty advanced 109.00 points or 0.99% to 11131.20. About 745 shares rose, 206 shares declined, and 38 were unchanged.

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21 Jul 2020, 09:14:56 AM IST

Biocon Biologics, Voluntis to collaborate for diabetes drug

Biocon Biologics India, a subsidiary of Biocon Ltd, and Voluntis have announced a global collaboration agreement between Biocon Biologics’ subsidiary Biocon Sdn. Bhd., Malaysia and Voluntis to develop and distribute innovative digital therapeutics supporting people with diabetes on biologics therapy.

21 Jul 2020, 09:07:06 AM IST

Market check at pre-open

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21 Jul 2020, 09:06:04 AM IST

Sensex jumps nearly 1% at pre-open to 37,747.47

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21 Jul 2020, 08:42:05 AM IST

Chevron to buy Noble for $5 billion in stock: Reuters

Chevron Corp on Monday said it would buy oil and gas producer Noble Energy Inc for about $5 billion in stock, the first big energy deal since the coronavirus crisis crushed global fuel demand and sent crude prices to historic lows, Reuters reported.

The oil price crash has decimated shares of many energy companies, making them attractive targets for those that have weathered the downturn and have the resources to buy.

Chevron ended the first quarter with a cash pile of $8.5 billion after withdrawing a $33 billion bid for Anadarko last year and then being among the first big oil companies to slash spending during the downturn.

The purchase boosts Chevron's investments in U.S. shale, and gives it Noble's flagship Leviathan field off the shore of Israel, the largest natural gas field in the eastern Mediterranean.

21 Jul 2020, 08:39:21 AM IST

Global oil prices steady

Global oil prices were steady as investors gauged hopes for a recovery in oil demand against fears of new lockdowns due to a growing number of coronavirus cases.

Brent futures were up 15 cents, or 0.4%, at $43.43, while West Texas Intermediate (WTI) edged up 2 cents to $40.83.

21 Jul 2020, 08:27:26 AM IST

Stocks to Watch

In today's trade, shares of Bharti Airtel, Vodafone Idea, IndiGo, Jubilant Life Sciences will be in focus.

Axis Bank, Bajaj Finance, Bajaj Finserv, Hindustan Unilever, among others, will detail announce their June quarter earnings today.

21 Jul 2020, 08:21:27 AM IST

SGX Nifty futures up 1%

The SGX Nifty futures rose over 1% to 11,126.20 in early deals on Tuesday, indicating a higher opening for Indian benchmark indices.

On Monday, the Nifty had closed at 11,022.20, up 120.50 or 1.11% and the Sensex had settled at 37,418.99, up 398.85 points or 1.08%.

21 Jul 2020, 08:18:27 AM IST

Asian stocks follow US peers higher

Asian equities were higher in early deals on Tuesday, tracking the rally in US peers, as promising trial results of coronavirus vaccines boosed sentiment.

The Topix index rose 0.1%, while Australia’s S&P/ASX 200 climbed 1%. South Korea’s Kospi index gained 1.4% and Hong Kong’s Hang Seng Index added 1.5%.

Shanghai Composite Index advanced 0.5%.

21 Jul 2020, 08:13:09 AM IST

US equities end higher Monday driven by vaccine hope

Wall Street stocks largely ended higher on Monday, with the Nasdaq at a record closing high, boosted by promising trial results from potential covid-19 vaccines.

A coronavirus vaccine being developed by the University of Oxford with AstraZeneca Plc have shown promising results in early human testing, and is now set to move into larger trials that are likely to be decisive on how effective they truly are.

The Dow Jones Industrial Average rose 8.92 points, or 0.03%, to 26,680.87, the S&P 500 gained 27.11 points, or 0.84%, to 3,251.84 and the Nasdaq Composite added 263.90 points, or 2.51%, to 10,767.09.

Of the 11 major sectors in the S&P 500, consumer discretionary and tech enjoyed the largest percentage gains.

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