Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

The market has continued being sluggish! We have not been successful in getting past the 15,300 which is the upper end of Nifty's current trading range. Neither have we broken down. This is a classic case of range-bound movement where the index is taking time to decide on its next course of direction. Until one end of the range is taken out, patience would be the best virtue to exercise as any hasty decision could result in stops being triggered.

Mar 9, 2021 3:52 PM

Here are key stocks that moved the most on March 9

Here are key stocks that moved the most on March 9. Get latest Market online at cnbctv18.com

Mar 9, 2021 3:43 PM

Market At Close

- Last-hour Recovery Helps Sensex & Nifty Close Near Day’s High

- Sensex Rises 629 Points & Nifty 173 Points From Lows

- HDFC Bank, ICICI & Kotak Bank Help Nifty Bank Register A Gain Of 1.7%

- Midcap Index Underperforms; Market Breadth In Favour Of Declines

- Nifty Gains 142 Points To 15,098 & Sensex 584 Points To 51,025

- Nifty Bank Rises 590 Pts To 35,866 While Midcap Index Slips 125 Pts To 24,024

- Positive Insurance Data For Feb Helps SBI Life Gain 5% & HDFC Life 2%

- Financials Top Contributor To Nifty With 123 Pts; Kotak, HDFC & HDFC Bk Top Gainers

- OMCs Slip As Petrol & Diesel Prices Kept Unchanged For 9th Straight Day

- Fall In Global Commodity Prices Pulls Metals Stocks Lower; Tata Steel Falls 4%

- MTNL, Can Fin, JM Fin, Steel Strips Amongst Top Midcap Gainers

- NMDC, FACT, Equitas, Rain Ind, CSB Bank Top Midcap Losers

Mar 9, 2021 3:37 PM

Closing Bell | The Indian benchmark equity indices ended Tuesday's volatile session higher led by gains in private banks, IT and financial services stocks. The Sensex ended 584.41 points, or 1.16 percent higher at 51,025.48, while the Nifty gained 142.20 points, or 0.95 percent to close at 15,098.40. Selling was seen in metals, pharma and auto indices, while broader markets, smallcap and midcap indices underperformed the benchmarks.

On the Nifty50, SBI Life Insurance, Kotak Mahindra Bank, HDFC Bank, Tech Mahindra and HDFC were the top gainers, while BPCL, Tata Steel, GAIL India, IOC and PowerGrid Corporation were the top index losers.

Mar 9, 2021 3:35 PM

Mar 9, 2021 3:20 PM

India’s GDP growth estimates at 11% in FY22: Crisil

India’s gross domestic product (GDP) is expected to grow by 11 percent in 2021-22 (FY22), rating agency Crisil said. GDP may contract by 8 percent in FY21, it added. Crisil expects GDP growth to average 6.3 percent between fiscals 2023-25.

Mar 9, 2021 3:17 PM

Mar 9, 2021 3:15 PM

Global stocks recover on firmer futures, retreat in US yields

Global stocks steadied on Tuesday, supported by stronger US equity futures and a decline in US and European bond yields. In Europe, the Euro STOXX 600 was up 0.1 percent after gains on Monday that lifted Germany’s index to a record high, a Reuters report said.

In volatile trading in Asia, the Shanghai Composite index fell 1.8 percent and was close to a correction from a multi-year high on February 18 amid fears of policy tightening. Japan’s Nikkei finished 1 percent higher as consumer goods companies and property developers gained on expectations they would benefit from an economic recovery.

Mar 9, 2021 3:08 PM

Axis Securities initiates coverage on L&T Technology Services with a Buy rating and TP of Rs 3,200

Axis Securities has initiated coverage on L&T Technology Services (LTTS) with a Buy rating and a Target Price of Rs 3,200, implying an upside of 22 percent from the current levels. We believe LTTS is well placed to bounce back post the COVID-19 pandemic. The recovery will be led by significant growth opportunities in cloud transformation and other digital services; sustainable operating margins led by better services mix and operational efficiencies; healthy balance sheet, strong return ratios, and free cash flow generation; superior execution capabilities, and ramp-up in new deal wins and strong client additions. These factors are expected to help LTTS in attaining sustainable growth in the long term, the brokerage said,

Mar 9, 2021 3:02 PM

Mar 9, 2021 2:54 PM

Steel Strips Wheels aims to increase EBITDA margin to 15%, says MD

Steel Strips Wheels, a leading wheel manufacturing company, is targeting an EBITDA margin of over 15 percent and revenue up to Rs 3,000 crore next year.

Dheeraj Garg, MD of Steel Strips Wheels on Tuesday said this year the company expects to make 19 percent of sales for alloy wheels, aiming to increase the number to 26 percent next year. "For this year we will have the highest EBITDA margins ending in March 2021 around 13 percent. Next year we are targeting close to 15 percent EBITDA margins. Next year we are targeting Rs 2,600-3,000 crore revenue target on a net basis,” he said in an interview with CNBC-TV18. Read here.

Mar 9, 2021 2:44 PM

Like HDFC, SBI Life in insurance; constructive on capital goods space: Renaissance Investment

Pankaj Murarka, founder of Renaissance Investment Managers, on Tuesday, said that some of the leading insurance players are a great play for investors. Speaking in an interview to CNBC-TV18, he said, “I think some of the leading private sector insurance companies are a great play on savings and protection in India over medium to long-term. Therefore, we like some larger names like HDFC Life Insurance Company Limited and SBI Life Insurance Company in that space.”

“We are very constructive on capital goods names across the board, be it some of the larger player like Larsen & Toubro (L&T) which intersects across all segments of capital goods and infrastructure and niche players like Cummins, Thermax, ABB and Siemens which are big players in automation in India,” said Murarka. Watch here.

Mar 9, 2021 2:33 PM

Craftsman Automation to launch Rs 824 crore-IPO on March 15; price band fixed at Rs 1,488-1,490

Craftsman Automation, an engineering products and manufacturing services company, is set to launch its initial public offering (IPO) on March 15 at a price band of Rs 1,488-1,490 per share.Get latest…

Mar 9, 2021 2:24 PM

Yash Gupta Equity Research Associate, Angel Broking on Ease Trip Planners IPO

We are expecting a very good listing for this IPO, we suggest retail investors to apply for this IPO for long term as well as for listing gains also. Retail investors can expect a listing gain of 50 percent - 75 percent. Based on FY2020 the IPO is priced at a PE of 58x at the upper end of the price band along with a very good ROE of 34 percent and ROCE of 35 percent. The company has the potential to grow exponentially in near future. Looking at the company performance in FY 2020 and strong balance sheet is given that we have certain concerns regarding competition in this business we are assigning a “Subscribe” recommendation to the issue.

Mar 9, 2021 2:14 PM

Vodafone seeks to raise up to 2.8 billion euros from Vantage Towers IPO

Vodafone Group said on Tuesday it would seek to raise up to 2.8 billion euros ($3.32 billion) in proceeds by floating infrastructure unit Vantage Towers in Europe's largest initial public offering of 2021, a Reuters report said.

The UK-based operator set the price range for the flotation of Vantage Towers on the Frankfurt Stock Exchange at 22.50 to 29 euros per share, implying a total market capitalisation of up to 14.7 billion euros.

Mar 9, 2021 2:03 PM

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