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The Indian equity benchmarks are set to open lower in trade on Tuesday as indicated by the Nifty futures traded on the Singapore Exchange. The Nifty futures on Singapore Exchange also known as the SGX Nifty was down 16 points at 14,480. Meanwhile, Asian stocks were mostly lower on Tuesday, tracking Wall Street declines as political turmoil in Washington and rising coronavirus cases worldwide weighed on sentiment. Political uncertainty dominated trading as House Democrats introduced a resolution to impeach U.S. President Donald Trump, accusing him of inciting insurrection following a violent attack on the Capitol last week. Several big tech giants, including Twitter Inc, Amazon.com Inc , Alphabet Inc, Facebook Inc and Apple Inc, have taken actions against Trump and his network of supporters, as concerns mounted over the risk of continued violence. Investors also kept an eye on the continued spread of the coronavirus globally as cases surpassed 90 million on Monday, according to a Reuter

Domestic share markets registered new record highs on Tuesday tracking gains across global markets, as hopes that a US COVID-19 relief package would be expanded and a Brexit trade deal supported investor risk appetite. The S&P BSE Sensex index rose 360.8 points, or 0.76 per cent, to an all-time high of 47,714.55 during the session, and the broader NSE Nifty 50 benchmark added 94.40 points, or 0.68 per cent, to an all-time high of 13,967.60. Broad-based gains, led by banking and financial services shares, pushed the markets higher. The Sensex ended 259.33 points, or 0.55 per cent, higher at 47,613.08 and the Nifty settled at 13,932.60, up 59.40 points, or 0.43 per cent, from its previous close.  IndusInd Bank, Tech Mahindra, Axis Bank, ICICI Bank and HCL Technologies, closing between 1.92 per cent and 5.72 per cent higher, were the top percentage gainers in the Nifty basket of 50 shares.  Hindalco, Nestle, Coal India, Tata Motors and NTPC, ending 1.44-2.08 per cent each, were the wo

Domestic share markets scaled new peaks on Monday tracking gains in Asian equities, as investors remained optimistic about COVID-19 vaccines and US President Donald Trump’s approval of a pandemic relief package aided risk sentiment globally. The S&P BSE Sensex index jumped 433.18 points, or 0.92 per cent, to an all-time high of 47,406.72 during the session, and the broader NSE Nifty 50 benchmark gained 136.05 points, or 0.99 per cent, to an all-time high of 13,885.30 during the session. Gains across most sectors — led by banking, financial services, automobile and metal shares — backed the upmove in the markets. The Sensex ended 380.21 points, or 0.81 per cent, higher at 47,353.75 while the Nifty settled at 13,873.20, up 123.95 points, or 0.90 per cent, from its previous close — both record closing highs.  Forty one stocks in the Nifty basket of 50 shares finished higher for the day. JSW Steel, Tata Motors, State Bank of India (SBI), Titan and HDFC Life, ending between 3.20 per cen

Domestic stock markets ended the holiday-truncated week nearly unchanged on Thursday, but the S&P BSE Sensex index registered a record closing high. The 30-scrip index ended 529.36 points, or 1.14 per cent, higher at a record 46,973.54 on Friday, whereas the broader NSE Nifty 50 benchmark climbed up 148.15 points, or 1.09 per cent, to settle at 13,749.25, 11.3 points shy of a record high of 13,760.55 last week.  Both indices ended the week on a flat note. The Sensex added 12.85 points, or 0.03 per cent, but the Nifty declined 11.30 points, or 0.08 per cent, for the week. That followed seven weekly gains in a row. IT and pharmaceutical shares continued to rise, with the sectoral gauges on the NSE up 3.23 per cent and 1.15 per cent respectively. Cipla, Wipro, Infosys and Sun Pharma, rising 3.11-5.19 per cent each, were the top gainers in the Nifty basket of 50 shares.  On the other hand, the Nifty Bank and PSU Bank indices dropped 1.02 per cent and 3.50 per cent respectively. ONGC, I

Mrs Bectors Food Specialties made a spectacular debut on Thursday, listing at a stellar premium of more than 70 per cent and soon doubling thereafter. The shares of the biscuit maker listed at ₹ 500, a 73.61 premium over its issue price of ₹ 288 per share. The shares opened at ₹ 501, higher by ₹ 213 or 74 per cent on the BSE and at ₹ 500, a 73.61 per cent premium on the National Stock Exchange, compared to the issue price of ₹ 288. The shares soon doubled thereafter, and at 11:30 am, the shares were trading aat ₹ 571.90, up by 98.61 per cent on the BSE. Mrs Bectors Food Specialties’ ₹ 540.54 crore maiden initial public offering (IPO) had witnessed the highest subscription among IPOs in calendar year 2020. The IPO was subscribed 198.02 times, backed by a strong response from all investors. The primary market offering was open between December 15 and December 17 and the shares were issued at a price of ₹ 286-288 per share.

The S&P BSE Sensex and NSE Nifty 50 indexes rose for third session in a row on Thursday, led by gains in Reliance Industries, HDFC, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and Hindustan Unilever. The benchmarks staged a gap-up opening and extended gains in noon deals on the back of broad-based buying interest led by banking and financial services shares. The Sensex rose as much as 609 points to hit an intraday high of 47,053.40 and Nifty 50 index touched an intraday high of 13,771.75. The Sensex ended 529 points or 1.14 per cent higher at 46,973.54 and Nifty 50 index climbed 148 points or 1.09 per cent to close at 13,749.25. Eight of 11 sector gauges compiled by the National Stock Exchange ended higher, led by the Nifty Bank index’s nearly 2 per cent gain. The Nifty Financial Services, Pharma and Private Bank indexes also rose over 1 per cent each. On the other hand, IT, media and real estate shares witnessed selling pressure. Mid- and small-cap shares ended on a mixe

The S&P BSE Sensex and NSE Nifty 50 indexes extended gains in noon deals led by gains in information technology heavyweights like Infosys and Tata Consultancy Services. Heavyweights like Reliance Industries, ITC, State Bank of India and Bajaj Finance also added to the gains. The benchmarks opened higher and extended gains in noon trading on the back of a broad-based buying interest. The Sensex rose as much as 336 points to hit an intraday high of 46,342.34 and Nifty 50 index touched an intraday high of 13,566.10. As of 1:02 pm, the Sensex was up 285 points at 46,292 and Nifty 50 index advanced 87 points to 13,553. All the 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Realty index’s over 3 per cent gain. Nifty IT, Auto, Media, PSU Bank, Realty and Metal indexes also rose between 1-2 per cent. Mid- and small-cap shares were also witnessing buying interest as the Nifty Midcap 100 and Nifty Smallcap 100 indexes rose around 2 per cent. Wip

Tata Consultancy Services’ ₹ 16,000-crore share buyback programme opened today. TCS, the country’s largest IT company, will buy back up to 5.33 crore equity shares at a floor price of ₹ 3,000 apiece. The buyback offer will close on January 1, 2021. TCS shares touched a record high ₹ 2,896.10 on Friday in a subdued market. In November, TCS shareholders had approved a proposal to buy back up to 5.3 crore equity shares, or 1.4 per cent, of the company’s total paid-up equity share capital at ₹ 3,000 per share for a total amount of up to ₹ 16,000 crore.

Calendar year 2020 saw the market debut of 13 companies, starting SBI Cards and Payment Services in March. The country’s IPO market slowly gained momentum following a lukewarm response to the listing of the credit card arm of the country’s largest bank. Mazagon Dock Shipbuilders’ IPO, in September, was subscribed more than 157 times the shares on offer, making it the best public offer of the year. In terms of IPO subscription, Mazagon was followed by the IPOs of Burger King India and Happiest Minds Technologies, which were subscribed almost 157 times and 151 times respectively. In terms of listing gains, Chemcon Speciality Chemicals, Happiest Minds and Route Mobile were the best, with shares more than doubling in their market debuts.

Mumbai-based information technology company Majesco on Tuesday approved an interim dividend of ₹ 974 per equity share of face value of ₹ 5 each for the financial year 2020-21. The interim dividend approved by Majesco board is at the rate of 19,480 per cent of the face value of the company, Majesco said in a stock exchange filing. Majesco’s dividend payment translates to an amount of ₹ 2,788.4 crore on a shareholder base of 28.57 million shares, the company said in an exchange filing. The balance cash reserves estimated at ₹ 103 crore will be distributed subject to board and regulatory approvals, Majesco added. Majesco will go ex-dividend on December 23 and record date for dividend has been fixed at December 25. Earliest Dividend Payout will be done on December 30, Majesco said in an investor presentation. Majesco in July this year approved sale of its entire stake in US subsidiary to private equity firm Thoma Bravo. Majesco provides insurance software solutions. As of 1:19 pm, Majesco

Domestic stock markets fell on Tuesday with benchmark indices retreating from all-time highs amid weakness across Asian equities, as concerns about increasing COVID-19 deaths and lockdowns overshadowed optimism about the rollout of coronavirus vaccinations. The S&P BSE Sensex index dropped by as many as 383.6 points — or 0.83 per cent — to 45,869.86 during the session, and the broader NSE Nifty 50 benchmark slid to as low as 13,451.30 down 106.85 points — or 0.79 per cent — from its previous close. Weakness across sectors, led by banking, financial services and IT shares, dragged the markets lower. At 10:43 am, the Sensex traded 351.74 points, or 0.76 per cent, lower at 45,901.72, while the Nifty was down 95.85 points, or 0.71 per cent, at 13,462.30.  Tata Motors, HUL, ITC, ICICI Bank and Axis Bank, trading between 1.79 per cent and 2.28 per cent lower, were the worst hit among 37 laggards in the 50-scrip Nifty basket. On the other hand, Eicher Motors, Shree Cement, UltraTech Cemen

The S&P BSE Sensex and NSE Nifty 50 indexes closed at all-time highs on Monday led by gains in ICICI Bank, Larsen & Toubro, Kotak Mahindra Bank, ONGC and Tata Consultancy Services. The benchmarks staged a gap up opening wherein Sensex rose as much as 274 points to hit record high of 46,373 and Nifty 50 index touched an all-time high of 13,597.50. The Sensex rose 154 points to close at 46,253 and Nifty 50 index advanced 44 points to settle at 13,558. Nine of 11 sector gauges compiled by the National Stock Exchange ended higher led by Nifty Media index’s over 2 per cent gain. Nifty Metal and PSU Bank indexes also rose over a per cent each. On the other hand, auto and realty shares witnessed selling pressure. Mid- and small-cap stocks outperformed their larger peers as Nifty Midcap 100 and Nifty Smallcap 100 indexes advanced 0.7 and 0.8 per cent each respectively. Burger King made a stellar market debut. The stock opened for trading at ₹ 115.35 on the BSE compared with an issue pr

The government succeeded in divesting 20 per cent stake in the railway ticketing firm, Indian Railway Catering and Tourism Corporation (IRCTC) in the recently concluded offer for sale (OFS). The retail investors lapped up all the shares up for sale and the institutional investor portion was subscribed 1.34 times. Following the share sale, the government’s stake in IRCTC will reduce to 67.4 per cent. The Centre had set floor price for the OFS, which was held on Thursday and Friday, at ₹ 1,367. But most bids came around ₹ 1,378, as per data provided by the stock exchanges. Prior to the offer for sale, the government held 87.4 per cent stake in the ₹ 2,275-crore public sector railway undertaking. IRCTC provides catering services, online railway tickets and packaged drinking water at railway stations and trains across India. IRCTC was listed on the stock exchanges in October 2019. The company had raised ₹ 645 crore through an initial public offering (IPO). Three other railway companies, i.

Fuel demand fell 5.0 per cent in November compared with the same month last year. Consumption of fuel, a proxy for oil demand, totaled 17.83 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. Sales of petrol were 5.2 per cent higher from a year earlier at 2.67 million tonnes. Cooking gas or liquefied petroleum gas (LPG) sales increased 3.5 per cent to 2.35 million tonnes, while naphtha sales surged 7.3 per cent to 1.35 million tonnes.

Domestic stock markets soared to record highs on Friday as ONGC surged on the back of higher crude prices, with sentiment also supported by optimism over COVID-19 vaccines. The S&P BSE Sensex index rose 229.14 points — or 0.50 per cent — to touch an all-time high of 46,189.02 in the first few minutes of trade. The broader NSE Nifty 50 benchmark rose to as high as 13,547.05, adding 68.75 points — or 0.51 per cent — to its previous close, inches from its all-time high of 13,548.90.

Domestic stock markets registered mild losses on Thursday, halting a rally that pushed the benchmark S&P BSE Sensex index above the 46,000 mark for the first time ever. The Sensex index fell 392.63 points, or 0.85 per cent, to 45,710.87 at the weakest level recorded in morning deals. The broader NSE Nifty 50 benchmark slid to as low as 13,399.30, down 129.8 points, or 0.96 per cent, from its previous close. Losses in banking, financial services and IT shares weighed on the markets. The Sensex closed 143.62 points, or 0.31 per cent, lower at 45,959.88, following five consecutive days of gain, and the Nifty settled at 13,478.30, down 50.80 points, or 0.38 per cent, from its previous close. UPL, Tata Motors, Indian Oil, UltraTech Cement and Tata Steel, trading between 2.31 per cent and 13.86 per cent lower, were the worst hit among 43 laggards in the Nifty basket of 50 shares. On the other hand, Nestle, Maruti Suzuki and Titan, up 0.69-1.51 per cent each, were the top gainers in the i

Domestic stock markets registered mild losses on Thursday, halting a rally that pushed the benchmark S&P BSE Sensex index above the 46,000 mark for the first time ever. The Sensex index fell 392.63 points, or 0.85 per cent, to 45,710.87 at the weakest level recorded in morning deals. The broader NSE Nifty 50 benchmark slid to as low as 13,399.30, down 129.8 points, or 0.96 per cent, from its previous close. Losses in banking, financial services and IT shares weighed on the markets. At 10:10 am, the Sensex traded 359.03 points, or 0.78 per cent, lower at 45,744.47, while the Nifty was down 124.80 points, or 0.92 per cent, at 13,404.30. UPL, Tata Motors, Indian Oil, UltraTech Cement and Tata Steel, trading between 2.31 per cent and 13.86 per cent lower, were the worst hit among 43 laggards in the Nifty basket of 50 shares. On the other hand, Nestle, Maruti Suzuki and Titan, up 0.69-1.51 per cent each, were the top gainers in the index.  Reliance Industries, HDFC Bank, HDFC and Infosy

The Indian equity benchmarks rose to new highs on Wednesday as sustained buying of Indian equities by foreign institutional investors (FIIs) and news of progress in Covid-19 vaccine development cheered investors’ sentiment. The Sensex rose as much as 555 points to hit a record high of 46,164.10 and Nifty 50 index climbed above 13,500 for the first time. HDFC Bank, Reliance Industries, Infosys, Kotak Mahindra Bank and Asian Paints were the top movers in today’s session. The Sensex closed 495 points higher at an all-time high of 46,103 and Nifty 50 index advanced 136 points to settle at record high of 13,529. The markets have been hitting record highs on news of progress in Covid-19 vaccine development amid sustained buying of Indian shares by Foreign Institutional Investors (FIIs), analysts said. FIIs bought shares worth ₹ 2,909.60 crore on Tuesday. Eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Media index’s nearly 4 per cent gain. Banki

Domestic stock markets are likely to start Wednesday’s session on a positive note, continuing a rally amid optimism on a fast recovery from the coronavirus pandemic-caused slowdown. The Singapore Exchange (SGX) Nifty futures – an early indicator of the National Stock Exchange’s Nifty 50 benchmark index – rose 48.4 points, or 0.36 per cent, to touch 13,467.20 at the strongest level recorded ahead of the opening of Indian markets. At 8:16 am, the SGX Nifty futures were up 44.00 points – or 0.33 per cent – at 13,462.80. Record highs in global markets also supported investor sentiment. Equities in Asia rose to a record high and US stock futures gained on Wednesday as investors tracked positive news on COVID-19 vaccines and ongoing efforts to launch more fiscal stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan was last seen trading 0.51 per cent higher. MSCI’s gauge of stocks across the globe also hit a record high.

Tata Power has received the Letter of Intent (LOI) for supplying electricity to the consumers of two electricity distribution companies (discoms) in Odisha i.e. the Western Electricity Supply Company of Odisha (WESCO) and the Southern Electricity Supply Utility of Odisha (SOUTCO). WESCO supplies electricity to consumers in the distribution circles of Rourkela, Burla, Balgarh, Bolangir and Bhawanipatna, while SOUTCO serves Behrampur, Aska, Bhanjanagar, Jeypore and Rayagada. The proposed sale of WESCO Utility and SOUTHCO Utility to Tata Power will be through the formation of a Special Purpose Vehicle (SPV) entity in which the Government of Odisha will own 49 per cent and Tata Power will hold the remaining 51 per cent stake, with management control, Tata Power said in a regulatory filing. The expected annual revenue of the SPV created for WESCO will be in excess of ₹ 3,300 crore and SPV created for SOUTHCO will be more than ₹ 1,200 crore, Tata Power added.