Stock Market LIVE Updates: Sensex at record high, eyes 60K; Nifty nears 17,800. Bank, Realty, Auto, Metal shine; Tata Steel rises 2%, SBI 1%

Godrej Properties up 17.72%, hits circuit

Price as on 23 Sep, 2021 02:53 PM, Click on company names for their live prices.

Sensex zooms over 900 pts, crosses 59,850, Nifty at 17,814, up 1.53%

DLF reaches 10% upper circuit

Price as on 23 Sep, 2021 02:46 PM, Click on company names for their live prices.

Reliance Industries market cap closing in on Rs 17 lakh crore. The stock is trading 2.28% up

Price as on 23 Sep, 2021 02:42 PM, Click on company names for their live prices.

Paras Defence IPO sees 233 times subscription so far on Day 3

The initial public offer (IPO) of Paras Defence and Space Technologies continued to generate strong investor interest on the last day of bidding. The issue saw applications for 1,66,17,30,365 shares against the total issue size of 71,40,793 shares. This means the offer was subscribed nearly 232.7 times as of 2:18 pm.

Gold may slip to Rs 44,200; better opportunities in silver, natural gas

Bank stocks pull through after days of lagging behind.

Price as on 23 Sep, 2021 02:12 PM, Click on company names for their live prices.

IDFC shareholders rejected the re-appointment of former CAG Vinod Rai as non-executive chairman of the company. The votes were cast at the company’s 24th Annual General Meeting (AGM) on Wednesday for his re-appointment as non-independent non-executive director up to May 22, 2023.

Price as on 23 Sep, 2021 02:10 PM, Click on company names for their live prices.

Shares of Kalpataru Power climbed 4 per cent in Thursday’s trade after the company won a Rs 236 crore arbitration award against the Rwanda Energy Group. At 2.07 pm, the stock was trading 1.84% up

Price as on 23 Sep, 2021 02:09 PM, Click on company names for their live prices.

JBM Auto bags orders for 500 CNG, electric buses from various states. Share jumps over 12%

Price as on 23 Sep, 2021 01:44 PM, Click on company names for their live prices.

LIC Housing Finance extends lowest home loan offer of 6.66% for loans up to Rs 2 cr

Mortgage financier LIC Housing Finance (LIC HFL) on Thursday extended its lowest home loan rate of 6.66 per cent for home loans up to Rs 2 crore. In July this year, it had announced to offer home loans at an interest rate of 6.66 per cent for an amount up to Rs 50 lakh to new borrowers. The new offer announced on Thursday is available for all borrowers with CIBIL score of 700 and above, irrespective of the fact that they are salaried or professional/self-employed, a release said.

India may seek a ratings upgrade from Moody’s amid recovery hopes

The Finance Ministry plans to pitch for a ratings upgrade from Moody’s Investors Service during a scheduled meet on September 28, people familiar with the matter told Bloomberg.

ITC, IndusInd Bank among 7 stocks that may deliver strong returns in short term

European stocks rally; all sectors trade in green

It’s risk-on for European equities at the open today with the STOXX 600 rallying for a second day and now almost 3% above the low hit on Monday when Evergande jitters reached a peak. The pan-European index was up 0.8% in early trading with all sectors trading in the black

Real estate sector in a multi-year bull run? Is it the right time to buy?

Price as on 23 Sep, 2021 01:26 PM, Click on company names for their live prices.

Benchmark indices extended the early gains and trading at day’s high level. Sensex trading 830 points (1.41%) up at 59.757 points, a new record high while Nifty is near 17,780.

How is the gaming market in India shaping up? Manish Agarwal of Nazara Technologies shares the details

Paras Defence IPO sees 65 times subscription on Day 3 so far

The initial public offer (IPO) of Paras Defence and Space Technologies continues to generate strong investor attention on the last day of bidding. The issue saw applications for 46,09,14,370 shares against the total issue size of 71,40,793 shares. This means the offer has been subscribed nearly 65 times as of 12.21 pm.

Fitch cuts China growth forecast on property woes

Ratings agency Fitch on Thursday cut its growth forecast for China’s economy this year citing a slowdown in the country’s colossal property sector, which is also facing headwinds over faltering real estate giant Evergrande. Fitch Ratings said it expected growth to come in at 8.1% this year, compared with a previous 8.4% estimate, saying the “main factor weighing on the outlook is the slowdown in the property sector”.

Domestic telecom gear maker Tejas Networks on Thursday said it has been selected by Bharti Airtel to enhance the telecom operator’s optical network capacity in key metropolitan markets. Tejas will supply, install and support its optical transmission products for extending Airtel’s optical networks towards the edge, supporting 5G backhaul, business-to-business (B2B) services and broadband applications. The stock is trading almost 5% up

Price as on 23 Sep, 2021 12:30 PM, Click on company names for their live prices.

Rating agencies upgrade JSW Infrastructure credit rating

JSW Infrastructure, India’s leading private port operator and part of $13 billion JSW Group, has received an upgrade in its credit ratings by India’s leading credit rating agencies, ICRA, CARE, and India Ratings. While ICRA has assigned a long-term rating of [ICRA] AA-(Stable) to JSW Infrastructure’s Bank facilities of Rs 250 crore, CARE Ratings has revised its ratings on the long-term bank facilities subsidiaries of JSW Infrastructure. Jaigarh Port and JSW Dharamtar Port from CARE A+ Stable to CARE AA- Stable. CARE has also revised its long-term debt ratings for South West Port, JSW Paradip Port Terminals from CARE A+ to CARE AA-(CE). It has reaffirmed its CARE A1+ ratings on short-term bank facilities of JSW Infrastructure and its subsidiaries. The long-term debt facilities currently rated by CARE Ratings amount to Rs 3,707 crore.

Realty developers likely to post record bookings in October-December led by launches

Real estate developers are likely to post record sales booking numbers in the second half of the financial year 2021-22 led by new launches as the momentum of robust response from homebuyers witnessed so far is expected to be continued during the festive October-December quarter, said an ICICI Securities report.

The Securities and Exchange Board of India (Sebi) has issued show-cause notices to 141 employees of Titan, India’s largest watch and jewellery retailer, alleging violation of insider trading rules. However, the stock has been trading in green

Price as on 23 Sep, 2021 12:17 PM, Click on company names for their live prices.

Vodafone Idea stock perked up as the company’s managing director Ravinder Takkar said on Wednesday that Vodafone Idea will survive and be competitive in the market and will invest the cash saved through the 4-year moratorium on AGR and spectrum payments into expanding its network and participating in 5G auctions instead of repaying debt.

Price as on 23 Sep, 2021 12:15 PM, Click on company names for their live prices.

Adani Ports is trading over 1% up. The Adani group company has concluded acquisition of the remaining 10.4 per cent stake in Gangavaram port from the Andhra Pradesh government for Rs 645 crore.

Price as on 23 Sep, 2021 12:13 PM, Click on company names for their live prices.

“Bharti Airtel’s rights issue at Rs 535 a share is attractively priced considering the current market price of around Rs 730. The recent telecom package declared by the government addresses most of the issues that the industry has been facing for some time now. India’s telecom industry is now practically a duopoly with Ril Jio and Bharti Airtel dominating the industry. Bharti’s 35 crore customers, growing steadily, and the launch of 5G shortly bode well for the company in the years ahead.

– VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Bharti Airtel rights issue to open on Oct 5

Shares of telecom operator Bharti Airtel climbed about a per cent after the company Rs 21,000 crore rights issue will open on October 5, according to a regulatory filing. The company has fixed September 28 as the record date for rights entitlement in the issue.

How to trade Bank Nifty today: Motilal Oswal

Overall trend is likely to remain consolidative in broader range and need to holds above 37000 zones for a bounce towards 37350 zones while on downside major support exists at 36500 levels. Option traders are suggested to trade with nearby Call like 36900, 37000 strikes or Bull Call spread Ladder.

Zee pares early gains but still trades in green

Price as on 23 Sep, 2021 10:41 AM, Click on company names for their live prices.

Trading calls from ICICI Sec

RBL Bank gains 2% as CEO & MD gets fourth term

Shares of RBL Bank rose 1.8 per cent to Rs 182.40 after an overwhelming 99.94 per cent of the bank’s shareholders approved the reappointment of Vishwavir Ahuja as the managing director and chief executive for the fourth term beginning June this year. Ahuja joined the bank in 2010 from Bank of America and has been the force behind the successful listing of the lender in August 2016.

Vodafone Idea advances 3% on management commentary

Shares of Vodafone Idea gained 3 per cent to Rs 10.71 after managing director Ravinder Takkar said the telecom operator said will survive and be competitive in the market and will invest the cash saved through the 4-year moratorium on AGR and spectrum payments into expanding its network and participating in 5G auctions instead of repaying debt.

Kalpataru Power climbs 4% on winning Rs 236 crore arbitration award

The stock rose 3.87 per cent to Rs 412.20 after the BSE-listed company won an arbitration award of more than $32 million (about Rs 236 crore) against the Rwanda Energy Group. The dispute was over a contract to install and commission a 220 KV power transmission network interconnecting the Democratic Republic of the Congo and Rwanda in Central Africa.

Bharti Airtel rights issue to open on Oct 5; record date fixed at Sept 28

Price as on 23 Sep, 2021 09:29 AM, Click on company names for their live prices.

Jubilant Ingrevia jumps 4% as arm divests stake in Safe Foods for Rs 134 cr

Shares of Jubilant Ingrevia, ace investor Rakesh Jhunjhunwala’s sixth largest stock holding, climbed 4 per cent in Thursday’s trade after the company said its subsidiary Jubilant Life Sciences International Pte has divested its entire 10 per cent stake in Safe Foods Corporation for a consideration of $18.2 million or around Rs 134.2 crore. The scrip rose 3.86 per cent to hit a high of Rs 789.50 on BSE.

Opening Bell: Sensex climbs 375 points, Nifty above 17,650; Tata Steel rises 2%, SBI 1%

Pre-open session: Sensex rises 390 points, Nifty50 nears 17,700

SGX Nifty signals a gap-up start

Nifty futures on the Singapore Exchange traded 103.50 points, or 0.59 per cent, higher at 17,656.50, signaling that Dalal Street was headed for a gap-up start on Thursday.

Tech View: Nifty support seen in 17,500-17,430 range

Nifty50 on Wednesday traded rangebound and ended up forming a small bearish candle on the daily chart. Analysts said the 17,500-17,430 range is likely offer some support to the index. A sustained move above the 17,600 level is a must for the index momentum to stay positive, they said.

Mainland China stock open higher

The Shanghai Composite Index added 0.63 percent, or 22.78 points, to 3,651.27, while the Shenzhen Composite Index on China’s second exchange gained 0.65 percent, or 15.96 points, to 2,456.02.

Hong Kong stocks rally at open

Hong Kong stocks jumped more than one percent at the start of trade Thursday morning as investors returned from a midweek break to news that troubled property giant Evergrande had agreed a plan to pay interest on one of its key bonds. The Hang Seng Index rose 1.62 percent, or 392.60 points to 24,614.14.

Fed signals bond-buying taper coming ‘soon,’ rate hike next year

he Federal Reserve said on Wednesday it will likely begin reducing its monthly bond purchases as soon as November and signaled interest rate increases may follow more quickly than expected as the US central bank’s turn from pandemic crisis policies gains momentum. The slight hawkish tilt was signaled in a new policy statement and economic projections that showed nine of 18 Fed officials ready to raise interest rates next year.

US indices settled 1% higher

US stocks ended sharply higher on Wednesday as investors took in stride the latest signals from the Federal Reserve, including clearing the way for the central bank to reduce its monthly bond purchases soon. The S&P500 index rose 1 per cent, breaking a four-day losing streak. The Dow Jones Industrial Average rose 338.48 points, or 1 per cent, to 34,258.32. The blue-chip index briefly surged 520 points higher. The Nasdaq composite gained 150.45 points, or 1 per cent, to 14,896.85

FPIs sell shares worth Rs 1,943 crore

Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 1,943.26 crore, data available with NSE suggested. DIIs were buyers to the tune of Rs 1,850.02 crore, data suggests.

Rupee slumps 26 paise to nearly 4-week low

The rupee declined by 26 paise to close at a nearly four-week low of 73.87 against the US currency on Wednesday due to a stronger dollar in overseas markets ahead of the outcome of the US Fed meeting and worries over China’s Evergrande situation.

Sensex, Nifty on Wednesday

Equity benchmarks ticked lower in choppy trade on Wednesday, weighed by selling in banking and finance counters, as investors turned cautious ahead of the US Fed’s policy decision. The 30-share BSE Sensex slipped 77.94 points or 0.13 per cent to close at 58,927.33. The broader NSE Nifty declined 15.35 points or 0.09 per cent to 17,546.65.

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