Tuesday, January 19

Tag: Live Markets

UPL rallies 7% on heavy volumes; stock surges 34% from December low
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UPL rallies 7% on heavy volumes; stock surges 34% from December low

Shares of UPL hit an over 11-month high of Rs 558, up 7 per cent, on the back of heavy volumes in an otherwise subdued market on the National Stock Exchange (NSE). With today's gain, it has bounced back 34 per cent from its recent low of Rs 416, hit on December 21, 2020, in the intra-day trade. The stock of the agrochemicals company was trading at its highest level since February 2020. Moreover, it was quoting close to its 52-week high level of Rs 601, touched on February 14 last year. Trading volumes on the counter more-than-doubled with a combined 27 million equity shares, representing 3.5 per cent of total equity, of UPL changing hands on the NSE and BSE till 02:42 pm.UPL, on December 29, had announced that the company had successfully redeemed $410 million worth of dollar-denomin...
HCL Tech to report Q3 results on Friday; here’s what top brokerages expect
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HCL Tech to report Q3 results on Friday; here’s what top brokerages expect

After a stellar set of numbers by information technology (IT) majors TCS, Infosys and Wipro, all eyes are now on HCL Technologies that is slated to post its October-December 2020 quarter (Q3FY21) earnings on Friday, January 15.Most analysts see a 5-6 per cent year-on-year (YoY) rise in Q3 revenue, led by broad-based growth across verticals and geographies, and easing of stress in the ER&D segment. Sequentially, the revenue may rise between 2 per cent and 3.5 per cent. The revenue could increase by 3 per cent quarter-on-quarter (QoQ) in constant currency (cc) terms and 2.5-4 per cent QoQ in dollar terms, believe analysts.Outlook on ER&D business, deal total contract value (TCVs) and pipeline, recent acquisitions, margin trajectory given pricing pressure, capital allocation pol...
BofA, CLSA think Axis, IndusInd Bank are ripe for re-rating; here’s why
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BofA, CLSA think Axis, IndusInd Bank are ripe for re-rating; here’s why

Shares of Axis Bank and IndusInd Bank Bank have, so far, outperformed the benchmark S&P BSE Sensex in calendar year 2021, on the back of consistent foreign capital inflow and hopes of sustainable economic recovery.Till Thursday, January 7, shares of Axis Bank have rallied 8 per cent while those of IndusInd Bank have jumped 6 per cent on the BSE. In comparison, the S&P BSE Sensex is up 0.72 per cent, ACE Equity data show.And this outperformance is likely to continue. Analysts at BofA Securities have "turned positive" on the Indian banking sector, and have upgraded Axis Bank, IndusInd Bank, and State Bank of India (SBI) on a "surprisingly" resilient asset quality outlook, and reasonable valuations."While we acknowledge stretched tactical in the near-term, and potential for som...
Sensex and Nifty scale fresh peaks; financials, IT stocks shine
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Sensex and Nifty scale fresh peaks; financials, IT stocks shine

Equity benchmark Sensex defied gravity for the 10th straight session to close at a fresh lifetime high on Tuesday as robust buying in financial and IT stocks offset lacklustre global cues.Persistent foreign fund inflows supported the benchmarks, though a weakening rupee capped the gains, traders said.Despite opening on a negative note, the 30-share BSE index pared all losses and staged a smart recovery to end 260.98 points or 0.54 per cent higher at 48,437.78. It touched an all-time high of 48,486.24 during the day.The Sensex has closed at record highs for seven sessions on the trot.The broader NSE Nifty rose 66.60 points or 0.47 per cent to settle at a new peak of 14,199.50. It scaled a record intra-day high of 14,215.60.M-cap of BSE-listed firms zoom to record highTotal marke...
Hot Stocks to watch: Cadila Health, NIIT, BEML, Dish TV, RIL, DLF, Coal India
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Hot Stocks to watch: Cadila Health, NIIT, BEML, Dish TV, RIL, DLF, Coal India

The domestic indices are poised for a firm start on Monday with the SGX Nifty trading nearly 0.3 per cent higher at 13,800 levels.Here are the stocks to watch in today's session:Cadila Healthcare: Drug firm Zydus Cadila on Thursday said its vaccine against COVID-19, 'ZyCoV-D', has been found to be safe and immunogenic in the Phase I/II clinical trials, and the company is seeking regulatory approval to commence Phase-III trials.NIIT: The board of NIIT has approved buyback of 98.75 lakh equity shares of face value of Rs 2 each. The buyback amounts to 6.97 per cent of the total equity. Teh buyback price of Rs 240 per share is at a 20 per cent premium to Thursday's closing price.BEML: The core group of secretaries on divestment, headed by Cabinet Secretary Rajiv Gauba, is likely to m...
What happened with Brexit? The inside story of how the deal was done
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What happened with Brexit? The inside story of how the deal was done

It was always likely to come down to fish, and even the final hours were occupied by cod and mackerel.After nine months of bartering, British Prime Minister Boris Johnson could declare that his trade deal with the European Union was done, while the bloc got to keep close ties with one of the world’s biggest economies.Yet, while the outline was agreed around Wednesday lunchtime, it took a night to go through the legal text. Then, with the choreography already in place, last-minute haggling over fish stocks in the draft meant that an announcement didn’t come until the afternoon of Christmas Eve. The situation became more frantic because of disagreements over how the figures had been calculated.For about 200 officials agonizing over the minutiae, it was time to finally emerge from the d...
Honda announces closure of decades-old Greater Noida manufacturing plant
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Honda announces closure of decades-old Greater Noida manufacturing plant

Honda Cars India Ltd (HCIL) on Wednesday formally announced closure of manufacturing operations at its Greater Noida facility in Uttar Pradesh.The automaker said the decision to cease production at the plant, which came up in 1997, has been taken as part of realignment of manufacturing operations with the goal of improving business efficiency.With the closure of Greater Noida facility, HCIL has also discontinued CR-V and Civic models in the country.Both the models were being manufactured at the plant."To maintain sustainability of operations by leveraging production and supply chain efficiencies, the company has decided to consolidate the manufacturing operations for vehicles and components at its Tapukara plant in Rajasthan with immediate effect for all domestic sales and exports"...
Economic impact of coronavirus could be painfully long for Indian women
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Economic impact of coronavirus could be painfully long for Indian women

Amid the Covid-19 crisis, three out of four Indians are experiencing their first recession. As might be expected, women are bearing the brunt of the pain — and the consequences could be long-lasting.A tiny elite of urban, educated women has benefited from the shift to remote work under lockdown: A recent study released by LinkedIn, based on internal data for India, found women’s participation in the labor force actually increased by 7% between April and July. But this only applies to jobs in the formal, white-collar, urban economy — a tiny fraction of the labor market. For most Indian women, the situation is deeply worrying.Covid-19 has exposed one of the biggest problems of urban India: Most of the wealthy and middle class live in nice neighborhoods, while those who serve their need...
Gig economy takes centre stage as tech boosts opportunities for workers
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Gig economy takes centre stage as tech boosts opportunities for workers

The pandemic has seen technology play the role of a great leveler as location and time zones become less relevant. This has boosted opportunities for gig workers, and for providers of platforms enabling a gig workforce marketplace.A gig economy is a free and global market in which firms set short-term gigs that are flexible and skill-based tasks or projects.As organisational performance continues to be under stress considering ongoing macro-level uncertainty, companies are now steering towards the gig workforce as an alternative, asset-light talent pool, fundamentally geared to meet variable, and dynamically shifting, demand.According to a Nasscom report, while nearly half of the Indian industry employs gig workers at present, it will emerge a pioneer in this new workforce model over t...
Covid-19 vaccines raise hope for cancer, throw open new field of medicine
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Covid-19 vaccines raise hope for cancer, throw open new field of medicine

The first vaccines against Covid-19 aren’t just a landmark in the fight against the pandemic. They’re also the stepping stone for an unconventional technology that could one day defeat other ailments that have eluded doctors, from cancer to heart disease.The shots from Moderna Inc. and a partnership of Pfizer Inc. and BioNTech SE use genetic material called messenger RNA to effectively transform the body’s own cells into vaccine factories. The approach had never been used outside of clinical experiments, and just how well it worked against the coronavirus stunned even some of its most enthusiastic backers.Now, with one vaccine vaccine having gained U.S. clearance and the other close behind, the pandemic validation could wrench open a whole new field of medicine.“We are now entering t...