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Market LIVE: Sensex surges 600 pts led by HDFC twins, ICICI; Nifty near 15,100 – Mint

Indian markets surged on Friday with Sensex gaining as much as 750 points, while Nifty rose above the 15,100 mark. Global markets were mixed as inflation worries weighed on optimism over economic recovery. Bank and financial stocks were among the best gainers in domestic markets.

21 May 2021, 01:24:54 PM IST

RBI Central Board approves transfer of ₹99,122 crore as surplus to the government for nine months ended March 31

21 May 2021, 01:14:56 PM IST

Sterling and Wilson Solar down around 3%

Sebi is investigating suspected financial irregularities at the Shapoorji Pallonji Group company, two people aware of the matter told Mint. The probe follows allegations by a few SW Solar shareholders last year that Shapoorji Pallonji and Co. Pvt. Ltd may have utilized funds raised in SW Solar’s August 2019 public share sale for purposes other than those mentioned in its share sale documents.

BSE

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BSE
21 May 2021, 01:05:14 PM IST

SC upholds Centre’s notification permitting banks to proceed against personal guarantors under IBC

Petitioners had challenged the November 2019 notification issued under the IBC and other provisions in as far as they relate to personal guarantors to corporate debtors.

Upholding the validity of the notification, the top court ruled that initiation of an insolvency resolution plan for a company does not absolve corporate guarantees given by individuals from paying up the dues to financial institutions.

21 May 2021, 12:55:35 PM IST

Dhampur Sugar down 4% as Centre slashes subsidy on sugar exports

BSE

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BSE
21 May 2021, 12:51:19 PM IST

Nifty Realty up 1.3%

Realty stocks

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Realty stocks
21 May 2021, 12:40:35 PM IST

For Bosch’s investors, margin challenges key concerns ahead

Auto parts maker, Bosch Ltd’s March quarter results are not bad, but they aren’t particularly inspiring either. Reported Ebitda margin is optically high at 19.2%. That’s primarily owing to a sharp 51% year-on-year drop in employee costs due to one-time employee benefit reversal. Naturally, adjusting for this, Ebitda margin is lower. (Read more)

21 May 2021, 12:28:00 PM IST

ICICI Bank jumps 2.5%; issues record credit cards in March quarter

The private sector lender’s cardholder base grew by a record 672,911 during the March quarter, while HDFC Bank’s portfolio contracted by 322,999 in the same period, latest data released by the central bank showed. SBI Card and Axis Bank added 331,523 and 273,310 cards, respectively.

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21 May 2021, 12:17:07 PM IST

Nifty broad market indices firm; India VIX eases more than 2%

Nifty

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Nifty
21 May 2021, 12:07:18 PM IST

Sensex at noon: Up 680 points led by banks, financials

Sensex check

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Sensex check
21 May 2021, 11:58:58 AM IST

Union Bank of India gains 1.2%

The bank said it has raised 1,447 crore through qualified institutions placement. The bank’s QIP issue had opened on May 17 at an issue price of 33.82 per share.

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21 May 2021, 11:49:04 AM IST

Axis Bank up 2%

The government has raised about 4,000 crore from sale of 1.95% stake in the bank held through SUUTI. “The OFS of Axis Bank got good response from investors with SUUTI garnering about 4,000 cr (subject to reconciliation). Thanks to all for their participation,” DIPAM Secretary Tuhin Kanta Pandey had tweeted.

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21 May 2021, 11:36:00 AM IST

Covid-19 drugs and vaccines to drive Cadila Healthcare’s prospects

Shares of Cadila Healthcare Ltd have been rising consistently and are up more than 46% from their March lows following the company’s covid drug portfolio. Developments pertaining to the expected vaccine launch and rollout has further boosted sentiment for the stock. The company is also to benefit from the unfolding of its NCE (new chemical entities) pipeline. (Full report)

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21 May 2021, 11:25:12 AM IST

BSE SmallCap up 1%

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21 May 2021, 11:12:11 AM IST

Israel, Hamas agree to cease-fire to end bloody 11-day war

21 May 2021, 11:01:38 AM IST

Sensex zooms 650 points; HDFC twins, ICICI Bank lead rally

Sensex contributors

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Sensex contributors
21 May 2021, 10:50:02 AM IST

Petrol, diesel prices hiked

State-owned fuel retailers increased petrol prices by 19 paise to 93.04 per litre in Delhi, while diesel rose to 83.80 per litre a 29 paise hike.

21 May 2021, 10:39:45 AM IST

HPCL jumps 4% on robust earnings

The state-owned oil retailer’s March quarter net profit soared many folds to 3,018 crore on the back of inventory gains and rise in refining margins. The company also reported its highest ever profit after tax of 10,664 crore during financial year 2020-2021.

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21 May 2021, 10:27:16 AM IST

JK Lakshmi Cement hits new 52-week high on blockbuster Q4 earnings

The March quarter earnings of JK Lakshmi Cement Ltd exceeded analysts’ expectations on multiple fronts. Reacting to the solid earnings, shares of the company hit a new 52-week high of Rs499 apiece on the National Stock Exchange in opening deals on Friday.

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21 May 2021, 10:17:26 AM IST

Rupee opens at 72.98 per US dollar against 73.10 at close Thursday

21 May 2021, 10:07:03 AM IST

Covid update: New cases dip to one-month low, daily recovery over 3.5 lakh

India reported 2,59,591 new covid-19 cases and 4,209 deaths in the last 24 hours, according to the Ministry of Health and Family Welfare’s data on Friday.

As many as 3,57,295 discharges have been recorded in the last 24 hours, which is more than the daily cases reported.

The cumulative caseload stands at 2,60,31,991, including 2,27,12,735 recoveries, 30,27,925 active cases and 2,91,331 deaths.

21 May 2021, 09:58:11 AM IST

Pidilite Industries gains 2%; hits ₹1 trillion in market cap

Pidilite Industries Ltd on Friday hit 1 trillion in market capitalisation, with the company’s shares having surged nearly 11% so far this year.

Pidilite Industries reported higher-than-expected earnings for the March quarter, with revenue up 44.7% year-on-year and EBITDA up 53.1%.

BSE

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BSE
21 May 2021, 09:49:33 AM IST

BSE MidCap up 1%, Adani Transmission top gainer

BSE

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BSE
21 May 2021, 09:36:04 AM IST

SBI up 1.5% ahead of Q4 earnings

The public sector lender is expected to report a profit of 6,166.2 crore in the three months to March, up from 3,580.8 crore in the same period last year, according to a Bloomberg estimate of 10 analysts.

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21 May 2021, 09:32:44 AM IST

Nifty Bank gains 1.4%

Banks

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Banks
21 May 2021, 09:27:11 AM IST

Nifty crosses 15,000 mark: Indusind Bank, BPCL best gainers

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Nifty
21 May 2021, 09:25:02 AM IST

Sensex soars 300 points to 49,865; IndusInd Bank, SBI top gainers

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Sensex
21 May 2021, 09:19:28 AM IST

Sensex, Nifty open higher

21 May 2021, 09:05:20 AM IST

Sensex at pre-open: Up 250 points

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Pre-open
21 May 2021, 09:03:00 AM IST

Markets in the green in pre-opening session

21 May 2021, 08:55:22 AM IST

Adverse weather to inflate project costs in west India

The cost of building solar and road projects in western India is expected to rise following an increase in the frequency of extreme weather events such as cyclones in the region, said industry experts, analysts and top executives of infrastructure firms.

Bidders are likely to factor in the cost of disruptions caused by high-speed winds, rain and flooding in their financial models. In states such as Gujarat, where Cyclone Tauktae made landfall earlier this week, damaging some solar parks and roads, solar power tariffs are expected to go up.

21 May 2021, 08:45:17 AM IST

Govt cuts subsidy on sugar exports to ₹4,000 per tonne from ₹6,000

The Centre on Thursday slashed subsidy on sugar exports from 6,000 per tonne to 4,000 per tonne with immediate effect in view of firm global prices.

For the ongoing 2020-21 marketing year (October-September), the government had fixed a subsidy of 6,000 per tonne to facilitate exports, thereby improving the liquidity of mills and enabling them to clear cane price dues to farmers.

21 May 2021, 08:33:15 AM IST

Stocks to Watch: SBI, Axis Bank, Mindtree, ICICI Bank,

Shares of Axis Bank, Mindtree, ICICI Bank, HPCL will be in focus today. State Bank of India, JSW Steel, Hindalco Industries, Shree Cement, Godrej Industries, and Shoppers Stop will also be in focus as they announce their March quarter earnings on Friday.

21 May 2021, 08:21:33 AM IST

Markets may open higher

Markets are likely to be volatile on Friday while trends in SGX Nifty suggest a green opening for Indian benchmark indices. On Thursday, the BSE Sensex ended at 49,564.86, down 337.78 points or 0.68%. The Nifty closed at 14,906.05, down 124.10 points or 0.83%.

21 May 2021, 08:08:48 AM IST

Oil prices recover marginally

Oil prices recovered slightly after steep drops on Thursday, when diplomats said progress was made toward a deal to lift US sanctions on Iran.

Brent crude was 0.2% higher at $65.21 a barrel after slumping 2.3%. West Texas Intermediate crude added 0.4% to $62.16 a barrel following a 2.1% tumble.

21 May 2021, 07:46:44 AM IST

Asian shares firm

Asian stocks climbed early Friday after technology companies led a Wall Street rebound on economic optimism and easing concern about the possibility of reduced U.S. stimulus.

Japan’s Nikkei index increased 0.5%, Australia’s S&P/ASX 200 rose 0.3%

South Korea’s Kospi index advanced 0.7% and Hang Seng advanced 0.4%.

21 May 2021, 07:31:28 AM IST

Wall Street ends higher on Thursday

US indices rebounded on Thursday after a three-day slide as the smallest weekly jobless claims since the start of a pandemic-driven recession lifted mood.

The Dow Jones Industrial Average rose 188.11 points, or 0.55%, to 34,084.15, the S&P 500 gained 43.44 points, or 1.06%, to 4,159.12 and the Nasdaq Composite added 236.00 points, or 1.77%, to 13,535.74.

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