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The Sensex crashed 580 points on Thursday. Mint
The Sensex crashed 580 points on Thursday. Mint
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Sensex jumps 282 pts led by banks, financials; Nifty ends at 12,859; RIL slips

  • Benchmark indices ended with gains after a day of losses with Sensex clocking 282 points and Nifty rising 0.7%. RIL was the biggest loser, while Bajaj Finserv was the best gainer. Gland Pharma jumped 21% in market debut

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20 Nov 2020, 03:37:03 PM IST

Sensex, Nifty end higher after a day of losses

After a day of losses, Sensex and Nifty closed with decent gains on the last day of the week helped by banks, financials and IT stocks. Recovering from a low of 43,453, Sensex ended 282 points higher at 43,882. Nifty ended 0.68% higher at 2,859.05.

Reliance Industries was the biggest loser, falling 4%. Bajaj Finserv and Titan were the biggest gainers in trade today. On the Sensex, 22 stocks advanced and eight declined.

On the Nifty, 33 stocks advanced and 16 declined and one was unchanged. The Bank Nifty gained 332 points.

Gland Pharma made an impressive debut on the stock markets today, closing 21% higher than its issue price.

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20 Nov 2020, 03:24:40 PM IST

Vodafone extends gains, up 8% now

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20 Nov 2020, 03:18:16 PM IST

Raymond to issue NCDs worth up to ₹40 crore

"The Committee of Directors ...approved the Issue of Non-Convertible Debentures for an amount up to 40 Crore on Private Placement basis. The Committee also granted an in-principle approval for increase in overall limit for issuance of Commercial Paper by 100 Crore," it said in an exchange notification.

20 Nov 2020, 03:11:28 PM IST

UPL Ltd up 1.3%

Promoter entity Uniphos Enterprises has increased stake in the company to 5.09% from 5.08% earlier.

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20 Nov 2020, 03:03:57 PM IST

Emami Ltd up 4%

The FMCG company has forayed into home hygiene segment with products under 'Emasol' range.

20 Nov 2020, 02:56:19 PM IST

Kotak Bank up 3%, hits 52-week high

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20 Nov 2020, 02:48:45 PM IST

Jaikishan Parmar, Sr. Equity Research Analyst, Angel Broking on Lakshmi Vilas Bank

Lakshmi Vilas Bank continues to hit the lower circuit and would correct further, investors who bought in hope of revival, on an expectation of healthy gain got stuck. LVB networth almost got eroded due to escalated provision and weak business. In this merger, shareholder of LVB will not get any benefit.

20 Nov 2020, 02:36:09 PM IST

M&M up 2%

The company is crafting plans to take 10 of its most promising units public in the next 5-7 years as the automobiles-to-software conglomerate aims to unlock value in these so-called “gems" by bringing in new investors. It has also identified the 10 companies, across sectors such as mobility, clean energy, rural, financial services, infrastructure and technology, to drive the future growth of the group.

20 Nov 2020, 02:25:50 PM IST

Asian markets end mixed

Asian markets ended mixed on Friday as traders were caught between long-term optimism over a virus vaccine and the immediate horror of surging virus infections across the world. The Shanghai Composite gained 0.44% and the Hang Seng rose 0.36%. The Nikkei 225 lost 0.42% and Australia's ASX ended a tad lower.

20 Nov 2020, 02:15:21 PM IST

Sensex jumps 350 points to 43,954

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20 Nov 2020, 02:03:53 PM IST

Banks and financials recover, Nifty Bank up 330 points

Kotak bank and HDFC Bank were the biggest gainers

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20 Nov 2020, 01:59:37 PM IST

Europe markets mixed

European markets were mixed with London's FTSE up 0.1% and Euronext down 2.90%. France's CAC was down 3% and Germany's DAX down 0.02%.

20 Nov 2020, 01:46:58 PM IST

Apollo Hospitals holds gains, up 2%

The healthcare major and Tata Medical and Diagnostics Ltd on Thursday announced a collaboration to introduce 'TataMD CHECK' diagnostic test for covid-19 in the country, which will provide faster results.

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20 Nov 2020, 01:40:18 PM IST

Sebi moves SC for payment of ₹62K cr from Sahara firms

Markets regulator Sebi has moved the Supreme Court seeking direction to two Sahara firms to pay 62,602.90 crore in compliance with the court's earlier orders, failing which the group's chief Subrata Roy be taken into custody.

Sebi said the contemnors, Roy and his two firms-- Sahara India Real Estate Corporation Ltd. (SIRECL) and Sahara Housing Investment Corporation Ltd. (SHICL) -- are in “gross violation" of various orders passed by the court regarding the deposit of entire monies collected along with the interest.

20 Nov 2020, 01:31:57 PM IST

Bharti Infratel extends gains, up 14%

Merger of Indus Towers Limited and Bharti Infratel Limited has been completed. The combined entity will be renamed as Indus Towers Limited.

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20 Nov 2020, 01:29:23 PM IST

Nifty Pharma down 0.7% dragged by Sun Pharma

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20 Nov 2020, 01:14:36 PM IST

Bajaj Finserv top gainer on indices, up 5.5%

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20 Nov 2020, 01:09:22 PM IST

Sensex at this hour

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20 Nov 2020, 01:01:19 PM IST

Indigo up 2%

During October, India’s largest airline IndiGo recorded a 55.5% market share and a 68.2% load factor. It carried 2.93 million passengers during the month.

20 Nov 2020, 12:46:55 PM IST

Working capital issues could puncture Street’s optimism on Bharat Electronics

The Bharat Electronics Ltd (BEL) stock has been on an upswing from the past two trading sessions, rising nearly 13%. On Friday, the stock rose more than 5% intraday on the NSE to Rs109. The stock is being rewarded for management’s positive outlook and diversification plans laid out at an analyst meet on 19 November.

BEL told analysts that it is confident of clocking double-digit top-line growth over the next decade. Growth is likely to be aided by business opportunities in the defence and non-defence segments. (Read more)


20 Nov 2020, 12:35:57 PM IST

Dewan Housing up 5%

State Bank of India, the lead lender to DHFL has asked fellow lenders to persuade all four suitors to the bankrupt home financier to upgrade their offers as an improvement in the asset quality of the mortgage lender has made it more valuable, two people aware of the development told Mint.

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20 Nov 2020, 12:27:03 PM IST

BPCL up 1%

Investors are not showing much interest in the sale of the government’s 53% stake in Bharat Petroleum Corp. Ltd (BPCL), which is expected to fetch the Centre around 45,000 crore. The privatization process could thus well be derailed, said investment bankers aware of the divestment process.

“Till a year ago, global energy majors were holding discussions for the BPCL stake sale. However, given the current situation and the muted response, it won’t be surprising if no one bids for BPCL in the final round," said an investment banker who works on energy deals seeking anonymity. (Full report)

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20 Nov 2020, 12:18:03 PM IST

L&T Tech selected by Amazon as Consulting and Professional Services provider for Alexa integration in devices

L&T Technology Services Limited today announced that it has been selected as a Consulting and Professional Services (CPS) provider to support Amazon Alexa Voice Service (AVS) integration in various connected devices spanning multiple domains and industries.

20 Nov 2020, 12:12:31 PM IST

Inox Wind up 12%

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20 Nov 2020, 12:06:34 PM IST

Jaikishan Parmar, senior equity research analyst, Angel Broking on Vodafone Idea

In last 3 days, there is a lot of positive news are coming for Vodafone Idea (VIL) such as (a) on completion of Bharti Infratel and Indus Tower mega-merger, VIL receives Rs,3760cr; 2) Possibility of capital infusion from a consortium led by Oaktree Capital Management for capital expenditure and debt servicing. The above news is positive for all lenders, and IDFC First bank has Rs.3244cr exposure (Funded – Rs. 2,000cr and Non-Funded – Rs. 1,244cr) which is 18% of net worth and had 50% provision on it. However, in Q2FY21 Bank has released Rs. 811cr (out of existing provisions of Rs. 1,622cr) against a VIL Exposure based on improved prospects and management commentary at the company, and utilized it to create additional COVID provisions during Q2 FY 21. If Balancesheet of VIL improves further than IDFC First Bank can additionally write back remaining provision to strengthen balance sheet for future uncertainties and built additional non-specific provision which will provide comfort to an investor. In the last few quarters, IDFC first bank has been able to build liability (CASA and retail deposit) which will help them to reduce high-cost borrowing, and eventually, retail customers will increase daily cash management activity into IDFC first infrastructure. Presently IDFC first bank is trading at 1x FY22 Book value which is reasonable considering retail mix and growth in liability franchise. We have a Buy rating on IDFC First bank."


20 Nov 2020, 11:56:46 AM IST

Nifty flat to negative in lacklustre trade

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20 Nov 2020, 11:45:26 AM IST

Bharat Electronics up 4% at ₹107.85

The stock has been on an upswing for the past two trading sessions, rising nearly 13% following management’s positive outlook and diversification plans.

20 Nov 2020, 11:35:30 AM IST

Aarti Industries down 3%

HDFC Mutual Fund has reduced its stake in Aarti Industries to 5.08% from 7.08%.

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20 Nov 2020, 11:35:31 AM IST

Bank Nifty down 1%

The Bank Nifty slipped 280 points dragged by Axis Bank, Indusind Bank and Bandhan Bank. Kotak Bank and HDFC Bank were the only gainers on the index.

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20 Nov 2020, 11:23:44 AM IST

Mphasis 1% higher as arm acquires UK-based Datalytyx

The IT firm said its subsidiary Mphasis Consulting has acquired UK-based Datalytyx Ltd for up to 13.3 million pounds (about 130.4 crore). The acquisition is expected to provide access to strengthen Mphasis next-generation Data GTM Strategy and provide higher value partnership status with Snowflake and Talend for cloud-based

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20 Nov 2020, 11:12:55 AM IST

Apollo Hospitals up 2%

The healthcare major and Tata Medical and Diagnostics Ltd on Thursday announced a collaboration to introduce 'TataMD CHECK' diagnostic test for covid-19 in the country, which will provide faster results.

20 Nov 2020, 11:04:18 AM IST

RIL slips 2%

Shares of Reliance Industries Ltd on Friday fell as investor focus turned to its earnings after the company said it completed a fund raising programme by selling 10% stake in Reliance Retail Venture.

RIL's scrip is trading lower for the fourth consecutive session. In intraday, the stock fell as much as 2.95% to hit a low of 1915 a share.

The company on Thursday said it has for time being completed inducting partners and raising funds for Reliance Retail Ventures. It got 47265 crore from financial partners and allotted a 10.09% stake to them.

20 Nov 2020, 11:00:25 AM IST

Sensex flat after clocking gains at open

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20 Nov 2020, 10:48:23 AM IST

Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

The markets have opened in a see saw mood! It is still trying to figure out the direction for the day. As long as 11500 holds, we continue to remain in the hands of the bulls and can enter the Nifty on all dips for a potential target of 13100.

20 Nov 2020, 10:40:54 AM IST

Gold up marginally on MCX

Gold prices continued to struggle in Indian markets for fifth day in a row amid weak global cues. On MCX, gold edged up 0.11% to 50,029 per 10 gram after suffering losses in the previous four sessions. Silver futures rose 0.3% to 61690. In the previous session, gold prices had fallen 0.7% or 350 per 10 gram while silver had declined 1,000 or 1.63% per kg.

20 Nov 2020, 10:33:17 AM IST

SpiceJet flies high, up 4% on Max push

SpiceJet stock has been rallying for the past two days on easing concerns on the return of Boeing Co.’s 737 Max planes. The US Federal Aviation Administration has allowed 737 Max to return to the domestic skies after being grounded for about two years after two fatal crashes.

20 Nov 2020, 10:24:12 AM IST

Rupee rises

The Indian rupee rose 12 paise to 74.15 against US dollar in early trade. It had closed at 74.27 against the US dollar on Thursday.

20 Nov 2020, 10:17:42 AM IST

Bharti Infratel up 6% as merger with Indus Tower complete

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20 Nov 2020, 10:10:21 AM IST

Fitch says India's reforms could support medium-term growth

Ratings agency Fitch has said that economic reforms in India could support the country's medium-term growth.

Fitch expects Indian government to undertake more reform measures over next few years and while it also expects reforms to also take place at state-level.

20 Nov 2020, 10:03:47 AM IST

Gland Pharma makes stock markets debut at 14% premium over issue price

Gland Pharma has made a firm stock markets debut on Friday. The stock was listed at 1710, a premium of 14% over its issue price of 1500 a piece.

Gland Pharma’s initial public offering (IPO) was open for subscription during 9-11 November, with a price band of 1,490-1,500 per share. The issue to raise 6,480 crore was subscribed 2.06 times.

20 Nov 2020, 09:58:28 AM IST

Nestle up 2% on strong sales in rural India

Large-scale migration and a good monsoon helped Nestlé India’s brands clock strong sales in rural markets and smaller towns as more and new consumers bought more of its Maggi noodles and chocolates in the September quarter, said the company which draws significant business from urban markets.

In the September quarter, urban growth for Nestlé India stood at 6%, while rural markets grew at 12%.

20 Nov 2020, 09:48:17 AM IST

Titan extends Thursday's gains, up 4%

The watch and jewellery retailer saw good traction across all its businesses during India’s key festival season with its jewellery business reporting a 15% growth during the 30-day period.

20 Nov 2020, 09:40:53 AM IST

Vodafone Idea up 4% as co sells 11.15% in Indus Towers for cash consideration of ₹3,760 crore

The telco has sold its 11.15% stake in Indus Towers for a cash consideration of 3,760 crore in accordance with the terms of the agreement and out of the consideration received from Infratel. Also, a consortium of investors comprising Oaktree Capital Management and Varde Partners has proposed investing at least $2 billion in cash-strapped company by buying hybrid debt securities

20 Nov 2020, 09:40:53 AM IST

Among Nifty sectoral indices, Bank is down 100 points, while auto, metals and realty were the gainers, up more than 1%

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20 Nov 2020, 09:32:09 AM IST

On the Nifty, 35 stocks advanced and 15 declined

On the Nifty, UPL and Adani Ports were the top losers, while Tata Steel and Bajaj Finserv gained most.

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20 Nov 2020, 09:27:46 AM IST

Sensex up 250 points led by Tata Steel and Bajaj Finserv

Besides HUL, ICICI Bank and Bajaj Auto, all Sensex constituents were in the green

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20 Nov 2020, 09:19:27 AM IST

Sensex, Nifty open in the green

20 Nov 2020, 09:13:08 AM IST

Virus could disrupt global recovery: IMF

The head of the International Monetary Fund has said while the United States and other major economies turned in better-than-expected economic performances in the third quarter, the world now faces slower momentum with a resurgence in coronavirus cases.

IMF Managing Director Kristalina Georgieva said in a note prepared for a virtual meeting of the leaders of the Group of 20 major economies that significant progress on the vaccines raised “hopes of vanquishing the virus that has taken more than a million lives and caused tens of millions of job losses" around the world.

20 Nov 2020, 09:07:02 AM IST

Sensex at pre-open

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20 Nov 2020, 09:05:06 AM IST

Indices in range in a choppy pre-session

20 Nov 2020, 09:00:35 AM IST

U.S. futures slide

US futures slid Friday after a dispute between Treasury Secretary Steven Mnuchin and the Federal Reserve over its emergency lending facilities. S&P500 futures slipped 0.7% while Dow futures fell 0.8%, cancelling out a firmer lead from a strong Wall Street session overnight.

20 Nov 2020, 08:53:18 AM IST

Oil prices drop on demand concerns amid rising covid cases

US oil prices slipped on Friday, dropping for a second day as concerns mounted about the hit to demand from the surge in covid-19 infections forcing new lockdowns.

West Texas Intermediate was down 9 cents, or 0.2%, at $41.65 a barrel by 0039 GMT, after dropping around 0.2% on Thursday. Brent crude was yet to trade, having fallen 0.3% in the previous session. The contracts are heading for a third week of gains.

20 Nov 2020, 08:48:38 AM IST

Gland Pharma listing today

The company launched its IPO during 9-11 November, which was subscribed 2.06 times. The company, owned by China's Fosun, raised 6,480 crore via public issue.

This is the largest initial public offering in the pharma sector till date. The successful IPO will see the company joining the ranks of the top 100 companies in India by market capitalization, at the issue price. Gland had fixed a price band of 1,490-1,500 per share for the IPO.

The successful public offering will also make Gland Pharma the first Chinese owned company to list on Indian stock markets.

20 Nov 2020, 08:43:35 AM IST

Serum may sell Oxford vaccine at ₹600 per dose in pharmacies

Serum Institute may sell Covishield, the covid-19 vaccine being developed by Oxford University, for around 500-600 per dose in the private market, more than twice the $3 (around 220) per shot it will cost the government, chief executive officer Adar Poonawalla said.

20 Nov 2020, 08:37:02 AM IST

Stocks to Watch: Reliance, Infosys, Bharti Infratel, Vodafone Idea

Reliance, Infosys, Bharti Infratel, Vodafone Idea are among stocks that will be in focus today.

China’s Fosun-owned Gland Pharma Ltd's IPO will list on exchanges today.

20 Nov 2020, 08:27:50 AM IST

Indian stock markets may be under pressure

Indian stock markets may be under pressure on Friday, while trends in SGX Nifty suggest a flat-to-positive opening for domestic benchmark indices.

On Thursday, Sensex and Nifty hit a fresh record high but erased all its gains and closed nearly 1.3% lower dragged down by banking and financial stocks. The BSE Sensex ended at 43,599.96, down 580.09 points or 1.31%. The Nifty closed at 12,771.70, down 166.55 points or 1.29%.

20 Nov 2020, 08:16:16 AM IST

Asian markets mixed

Asian markets came under pressure after U.S. Treasury Secretary Steven Mnuchin called for an end to coronavirus pandemic relief for struggling businesses, sparking a rare clash between the central bank and Treasury. Japan's Nikkei stumbled 0.5%, while South Korea's KOSPI index was flat and Australian shares were mildly positive. Chinese shares were little changed with the blue-chip CSI300 index a shade firmer.

20 Nov 2020, 08:13:04 AM IST

Wall Street closes higher

Wall Street ended in positive territory on Thursday as fresh stimulus hopes buoyed investor sentiment toward the end of a session fraught with worries over shutdowns and layoffs linked to spiraling covid infection rates.

The Dow Jones Industrial Average rose 0.15%, S&P 500 gained 0.39%, and the Nasdaq Composite added 0.87%.

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