Here are the key highlights from today's trading session:

1. Market ends higher for 8th straight day & at record for 3rd consecutive day

2. Sensex, Nifty & Nifty Bank gain nearly 1% each; Midcap index up 0.4%

3. Nifty gains 118 points to 12,749 & Sensex 316 points to 43,594

4. Nifty Bank advances 239 points to 28,845 & Midcap index 67 points to 18,075

5. Metal & Pharma gain the most amongst indices; both up over 3%

6. 43 Nifty stocks close in the green; Tata Steel, Hindalco, Axis Bank top gainers

7. Tata Steel gains 8% on reports of company finalizing European business sale

8. Apollo Hospitals, Aurobindo Pharma & Solara Active Pharma top midcap gainers

9. Government's Rs 2 lakh crore PLI scheme for 10 sectors boosts stocks like Minda Industries and Solara Active Pharma

10. Market breadth favours advances; advance-decline ratio at 1:1

Nov 11, 2020 3:56 PM

Closing Bell: Sensex rises 316 points, Nifty settles near 12,750; Pharma, metal stocks shine

The Indian benchmark equity indices, Sensex and Nifty extended gains for the eight straight sessioto end higher on Wednesday led by pharma and metal stocks amid strong global cues.

The Sensex ended 316.02 points or 0.73 percent higher at 43,593.67, while the Nifty gained 118.05 points or 0.93 percent to settle at 12,749.15.

Broader indices supported the gains with Nifty Smallcap100 and Nifty Midcap100 indices rising 0.4 percent and 0.7 percent, respectively.

Investor sentiment was boosted after the cabinet approved Rs 2 lakh crore Production Linked Incentives (PLI) scheme for 10 manufacturing sectors including electronic goods, automobile and auto components, pharma, air conditioners, food processing industry, among others.

Among sectors, Nifty Pharma and Nifty Metals rallied the most over 3 percent each followed by Nifty Auto, Nifty IT and Nifty Financial Services.

Nov 11, 2020 3:42 PM

Stock Update: Larsen & Toubro's share price traded over 2.5 percent higher to Rs 1,061 per share on the NSE after it secured orders from prestigious clients for two of its businesses. L&T's Power Transmission a Distribution Business has won a slew of orders in the international market. The heavy civil infrastructure business has secured another Regional Rapid Transit System (RRTS) Infrastructure order from the National Capital Region Transport Corporation (NCRTC) in Uttar Pradesh to execute a new, dedicated, high speed, high capacity rail project in the Delhi - Gaziabad - Meerut Corridor.

Nov 11, 2020 3:26 PM

Godrej Industries Q2FY21 | The company's net profit fell 44.8 percent to Rs 205.3 crore from Rs 372.2 crore while revenue declined 9.2 percent to Rs 2,386.3 crore from Rs 2,628.7 crore, YoY.

Nov 11, 2020 3:08 PM

Market Update | Nifty Pharma Index rallied the most over 3 percent led by Aurobindo Pharma, Lupin, Dr Reddy’s Laboratories.

Nov 11, 2020 2:55 PM

ICICI Bank’s mortgage portfolio crosses Rs 2 lakh crore mark

ICICI Bank said that its mortgage loan portfolio has crossed Rs 2 lakh crore helped by the bank’s expansion of footprint across the country including tier 2, 3 and 4 cities.

In a release issued on Wednesday, the lender said that it has become the first private bank in the country to achieve this milestone that can be attributed to its focus on digitizing the entire mortgage process along with instant loan approvals.

“Anticipating rapid growth in demand in upcoming cities for real estate especially in the affordable segment, we have expanded our footprint far and wide. Now, we are present in 1,100 locations, including tier 2, 3 and 4 cities as well as fast-growing outskirts of metro cities. We have also scaled-up our credit processing centers from around 170 to over 200 in past two years in these new markets for efficient processing and quick turn-around for customers,” said Anup Bagchi, Executive Director, ICICI Bank. Read more here.

Nov 11, 2020 2:43 PM

L&T bags orders in the range of Rs 1,000-2,500 crore

L&T's Heavy Civil Infrastructure business has secured another Regional Rapid Transit System (RRTS) Infrastructure order from the National Capital Region Transport Corporation (NCRTC) in Uttar Pradesh to execute a new, dedicated, high speed, high capacity rail project in the Delhi - Gaziabad - Meerut Corridor.

The company’s Power Transmission a Distribution business has won a slew of orders in the international market. In Nepal, the business has won an order to Design, Supply, Installation and Commission a crucial 220kV Gas Insulated Substation along with associated works in connected substations. The package is part of the Power Transmission and Distribution Efficiency Enhancement Project being undertaken to reduce system overloads and losses in the valley. In the Kingdom of Saudi Arabia, the business has received orders to establish certain transmission links in the existing 132kV network.

Nov 11, 2020 2:28 PM

Nov 11, 2020 2:17 PM

Motilal Oswal on gold prices: Accumulate gold on every dip towards Rs 49, 500-48,500, which is a good range to buy with short-term upsides being capped around Rs 52,000-53,000. Comex Gold is expected to form a base around USD 1,880-1,840, while rallies are likely to be capped in the range of USD 1,940 - USD 1,975. On the longer-term perspective, the target for gold is USD 2,500 on the Comex and Rs 65,000-67,000 on the domestic front. (Source: Moneycontrol)

Nov 11, 2020 2:00 PM

CNBC-TV18 newsbreak confirmed, Cabinet approves PLI for 10 sectors

Nov 11, 2020 1:46 PM

Best-performing sector: Nifty Bank jumps 20% in a month. Should you buy stocks?

The banking index has been the best-performing sector in the last one month. It has outperformed the benchmark as well as all the other sectoral indices during this period.

The Nifty Bank jumped over 20 percent in the last 1 month as compared to a 6 percent rise in benchmark Nifty50. Nifty Finance was a close second, up 18 percent in 1 month. Nifty Energy, Nifty Metal, and Nifty Realty rose between 5 percent and 14 percent. Meanwhile, the IT and pharma indices were in the red during this period.

Despite the big run-up in recent times, global brokerage house CLSA maintains a positive view on the sector and sees a further upside.

As per CLSA, the September quarter has been a turning point for financials with better-than-expected PPOP performance and strong asset quality guidance by top banks. Click here to read more

Nov 11, 2020 1:26 PM

Earnings Impact: M&M shares rise 4% on better-than-expected Sept results

The share price of Mahindra & Mahindra (M&M) rose 4 percent on Wednesday after the firm reported its revenue ahead of estimates, up 6 percent in the September quarter at Rs 11,590 crore as against Rs 10,935 crore a year ago.

However, the auto major reported an 88 percent drop in its profit after tax (PAT) to Rs 162 crore for the second quarter ended September 30, mainly on account of an impairment provision of Rs 1,149.46 crore for certain long-term investments.

The auto major had reported a PAT of Rs 1,355 crore during the July-September period of the previous fiscal.

The stock rose as much as 4 percent to the day's high of Rs 644.45 per share on BSE. For the year as well, the stock is up 20 percent.

Brokerage house CLSA noted that Q2 FY21 operating results came in significantly ahead of its expectations, despite the decline. Read more

Nov 11, 2020 1:15 PM

Tata Steel likely to finalise European business this week

Nov 11, 2020 1:00 PM

Stock Update: Wipro's shares traded 0.09 percent higher to Rs 342.6 per share on the NSE after the company won a multi-year contract for software engineering services from ThoughtSpot. As a part of the five-year engagement, Wipro will enhance various components of ThoughtSpot's Search and Analytics platform to help scale feature development.

Nov 11, 2020 12:46 PM

KPIT Technologies' share price climbs 8% on large deal win from BMW Group

KPIT Technologies' share price jumped 8 percent on Wednesday after the company won a strategic large deal with BMW Group. The stock gained as much as 8 percent to Rs 102 per share on the NSE. At 11:45 am, the shares traded 3.23 percent quoting at Rs 97.5.

The automotive software company will be the single source software integration partner for the next generation 11KW combined charging electronics program powering the upcoming battery electric vehicles of BMW Group, said the exchange filing.

The series order is spread over several years, added the filing further. Any details on the deal amount were not stated in the company filing.

The engagement covers designing the next-generation power electronics architecture of BMW Battery Electric Vehicles and involves software development, integration, and maintenance of combined powertrain coordination units, including charging control, and extends over several years, the filing said.

Nov 11, 2020 12:33 PM

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