5 min read . Updated: 25 Aug 2020, 10:51 AM IST
- Indian shares hit a six-month intraday high on Tuesday, taking cues from other Asian markets that rose on progress in US-China trade talks and following another record close on Wall Street
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25 Aug 2020, 10:45:17 AM IST
Rupee update
Rupee rises 15 paise to 74.17 against US dollar in early trade.
25 Aug 2020, 10:37:27 AM IST
Zydus Wellness up 2.5%
The company has informed the exchanges that it is considering proposals of raising of equity funds through preferential issue and/or qualified institutions placement (QIP) or any equivalent capital raising mode permitted by applicable law.
25 Aug 2020, 10:30:29 AM IST
Angel Broking on LIC Housing Finance
“LIC reported Mixed set of numbers for Q1FY21, AUM increase 6% YoY and steady QoQ, PAT jumped by 34% to Rs.817.48cr. On moratorium front, Individual Home Loans under moratorium accounted for 16% an Approximately 25% of the Company’s total loans under management are in moratorium as of June 30, 2020. NII increase 3% YoY ted below AUM growth primarily owing to compression in NIM. Opex increase by 36%, however, lower provision cost has helped LIC housing to report PAT jump of 34% YoY. Considering the current situation provision taken in Q4FY20 and Q1FY20 is much lower than expected. Currently LIC housing trades at 0.75x of TTM Networth which is lower compare to the historical average. Considering lower valuation and not much negative in result stock could see positive movement for midterm,” said Jaikishan Parmar, Sr. Equity Research Analyst, Angel Broking.
25 Aug 2020, 10:23:04 AM IST
Market outlook
“The markets have opened above the 11500 level which is a positive sign. As long as we trade above the 11300 zone, we are in a strong impulsive market. The bulls are clearly in charge. We should target 11700 as the next price point and there is a possibility that we achieve this target during the course of this week,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
25 Aug 2020, 10:15:27 AM IST
IndiaMART InterMESH Ltd hits 52-week high
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25 Aug 2020, 10:12:27 AM IST
Banks, financials and auto stocks rally
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25 Aug 2020, 10:04:45 AM IST
Societe Generale sells ICICI Bank shares worth ₹341 crore
Societe Generale has sold shares of ICICI Bank worth nearly ₹341 crore through an open market transaction.
As per the block deal data available on the BSE, 90 lakh shares or 0.17% of equity of the private lender were sold by Societe Generale at ₹378.6 apiece, aggregating to ₹340.74 crore.
Shares were bought by Merrill Lynch Markets Singapore Pte Ltd, according to stock exchange data.
25 Aug 2020, 09:57:22 AM IST
Future Retail up 5.5%
Kishore Biyani-led Future Retail has paid $14 million (around ₹103 crore) as pending interest on its dollar bonds, after the company missed the earlier deadline last month.
25 Aug 2020, 09:49:06 AM IST
Adani Enterprises gains 1%
Billionaire Gautam Adani’s Adani Group is in talks to buy out GVK and some of its partners in the Mumbai Airport as it aims to become the country’s biggest private airport operator, PTI reported quoting sources. Adani Group is in talks to acquire a 50.5% stake held by GVK Group in Mumbai International Airport (MIAL) and another 23.5% of minority partners, Airports Company South Africa (ACSA), and Bidvest Group, it added.
25 Aug 2020, 09:39:18 AM IST
LIC Housing Finance up nearly 10%
Mortgage lender LIC Housing Finance Ltd reported a 34% jump in its net profit to ₹817.48 crore for the quarter ending June helped by lower provisioning.
25 Aug 2020, 09:31:02 AM IST
Max Financial Services up 10%
The private sector lender will acquire 17% stake in Max Life Insurance instead of the 29% proposed earlier as per a revised deal. Axis Bank currently holds about 1% stake in Max Life and is the biggest banking channel partner for the distribution of the insurer’s products. Products sold through the bank reportedly account for 54% of Max Life’s revenues.
25 Aug 2020, 09:26:06 AM IST
Allcargo Logistics surges 20%
Logistics-focused company Allcargo Logistics Ltd on Monday said that its promoter group, including Shashi Kiran Shetty and Talentos Entertainment Pvt Ltd, have intimated the company of their plans to delist it. Data suggests the members of the promoter group collectively hold 17.2 crore shares aggregating to 70.01% of the paid-up equity share capital of the company, while public shareholders hold 29.99%.
25 Aug 2020, 09:18:57 AM IST
Market Opening
Indian benchmark share indices opened higher on Tuesday tracking gains in global peers. Sensex opened at 38,948.46, up 149.38 points or 0.39%, while Nifty opened 46.65 points or 0.41% higher at 11,513.10.
Bharti Airtel, rising over 1%, was the top Sensex gainer followed by Axis Bank, IndusInd Bank, SBI and Bajaj Finance. Nestle India, TCS, Infosys, HUL and Sun Pharma were among the laggards. Of 30 Sensex shares, 24 were in the green at open.
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25 Aug 2020, 09:04:55 AM IST
Market pre-opening
Indian stocks traded higher on Tuesday in the pre-opening session. At 9:02 am, Sensex was at 38997.43, up 198.35 points or 0.51%. Nifty advanced 42.65 points or 0.37% to 11,509.
25 Aug 2020, 08:45:40 AM IST
Market at close on Monday
Equity benchmarks Sensex and Nifty closed near six-month highs on Monday as investors scooped up banking and financial stocks amid supportive global cues.
A sharp rebound in the rupee — which soared 52 paise against the US dollar — also buoyed market sentiment, traders said.
The BSE Sensex opened in the green and gained further momentum as the session progressed. It finally closed at 38,799.08, up 364.36 points or 0.95%.
Similarly, the NSE Nifty jumped 94.85 points or 0.83% to finish at 11,466.45.
25 Aug 2020, 08:43:09 AM IST
Asian shares edge higher
Asia’s stock markets were mostly higher on Tuesday as investors cheered signs of progress in US-China trade negotiations and following a fresh Wall Street rally.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.32% to its highest since early January and sits just a fraction below a two-year high.
Japan’s Nikkei was trading 1.5% higher and banking stocks led Australia’s S&P/ASX 200 up 0.58%.
The Hang Seng Index in Hong Kong was an outlier in early trade, slipping 0.27% while the Shanghai Composite was 0.15% firmer.
Singapore’s SGX Nifty added 0.22%, suggesting a positive opening for Indian stocks.
25 Aug 2020, 08:43:09 AM IST
Wall Street ends higher
The S&P 500 and the Nasdaq reached new record closing highs on Monday as optimism over potential medical advances in the war against the coronavirus pandemic pushed all three major US stock indexes higher.
Dow Jones Industrial Average rose 384.61 points, or 1.38%, to 28,314.94, the S&P 500 gained 34.93 points, or 1.03%, to 3,432.09 and the Nasdaq Composite added 69.77 points, or 0.62%, to 11,381.57.
