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

1. Market closes near day's high led by Reliance Industries, ICICI Bank & HDFC twins

2. Sensex, Nifty, Midcap Index gain 1% each & Nifty Bank nearly 2%

3. Pharma gains the most amongst indices, Cipla & Sun Pharma top gainers

4. All Nifty Bank constituents except PNB, close in the green

5. Sensex gains 268 points to 39,044 & Nifty 82 points to 11,522

6. Nifty Bank moves 364 points higher to 22,466 & Midcap inde 187 points to 17,393

7. IndusInd Bank, Cipla, UPL & Bharti Airtel are top Nifty gainers

8. Max India surges 8% after company announces exit option for shareholders

9. Bajaj Healthcare gains 10% after strong Q1 earnings

10. Hexaware advances 6% after over 8 crore shares tendered for delisting

11. BSE moves 6% higher after DB sells 12 lkah shares in company

12. Ashok Leyland sees an upmove of nearly 4% on new LCV launch

13. Market Breadth favours advances; advance-decline ratio at 3:2

Sept 15, 2020 4:05 PM

Closing Bell: Sensex closes over 280 points higher, Nifty above 11,530; broader markets surge, IndusInd Bank top gainer

The Indian benchmark equity indices, Sensex and Nifty ended near day's high level on Tuesday led by the positive sentiment across global markets and buying sentiment in pharma space.

At close, the Sensex ended 288 points higher to 39,044.35 while the Nifty50 index ended at 11,521.80, up 82 points. Broader indices supported the gains, with Nifty Midcap 100 index and Nifty Smallcap 100 indices ending over 1 percent higher each.

Among sectors, Nifty Pharma gained the most over 2 percent followed by Nifty Private Bank, Nifty Financial Services and Nifty IT. Nifty PSU Bank, Nifty Auto and Nifty FMCG traded in the red.

IndusInd Bank, Cipla, UPL, Axis Bank and Bharti Airtel were the top gainers of the Nifty50 index while Titan, Maruti Suzuki, HDFC Life Insurance, Eicher Motors and ITC were the top losers.

Sept 15, 2020 3:36 PM

Indiabulls Housing Finance closed its QIP issue, shares down 2%

The board approved the closure of the issue period for the Issue today i.e. September 14, 2020, pursuant to the receipt of application forms for an aggregate of 3,47,74,811 fully paid-up equity shares of the company and the funds in the escrow account from eligible qualified institutional buyers in accordance with the terms of the issue, which opened on September 9, 2020.

The board approved the issue price of Rs 196.37 per equity share (including a premium of Rs 194.37 per equity share), which is at a discount of 5 percent (i.e. Rs 10.33 per equity share) to the floor price of Rs 206.70 per equity share.

At 3:15 pm, the shares traded 1.95 percent lower to Rs 185.80 per share on the NSE.

Sept 15, 2020 3:23 PM

Sources to CNBC-TV18 | India is getting ready to procure tactical winter equipment and wear, specialized weapons. The latest procurement drive to meet the immediate requirement of armed forces

Sept 15, 2020 3:09 PM

Max India plans to reduce capital by up to 20% at Rs 85 per share

Max India Ltd on Tuesday announced that it will explore a capital reduction program to reward its shareholders. The company plans to offer its public shareholders the option of taking Rs 85 per share for up to 20 percent of their shareholding in lieu of cancelling these shares. Post capital reduction, Max India's outstanding shares will decrease by up to 20 percent, to 4.3 crore from 5.38 crore.

The company’s promoter/ promoter group shall not participate in the capital reduction. Consequently, the promoter’s stake will rise to 51.11 percent from the current 41 percent. The promoters will seek a SEBI exemption from the open offer requirement accordingly. Read more here.

Sept 15, 2020 2:56 PM

New IPO Update: Chemcon Speciality Chemicals is also expected to launch its initial public offering on September 21, a source at a brokerage firm told Moneycontrol. Computer Age Management Services (CAMS), which is backed by NSE and private equity firm Warburg Pincus, is also expected to open its maiden public issue on the same date.

Sept 15, 2020 2:46 PM

Rupee Update: The Indian currency ended with losses in today's session despite positive equity markets. The rupee ended at 73.64 against the US dollar as compared to Monday's close of 73.48.

Sept 15, 2020 2:31 PM

Banks in FY20: Slippages double as de-risking continues; ICICI, IndusInd Bank top picks for Jefferies

The banks continued de-risking in the financial year 2020 as data showed that the risk-weighted asset/ total during the year fell by another 150 bps YoY to 59 percent after a 230 bps fall last year. The private banks derisked more than the state-run lenders.

Push for lending to PSUs, slower rise in exposure to real estate and other sensitive sectors helped, global brokerage Jefferies said.

Deposit strength is divergent and reflects in the divergent share of retail and total deposits, concentration and cost of deposits, it added.

During FY20, net slippages doubled, due to a 28 percent rise in downgrades including DHFL and lower recovery/upgrade from a high base of last year. An on-year rise in net slippages comes from a low base, but much below FY16-18 levels. Read more

Sept 15, 2020 2:14 PM

Parliamentary Standing Panel on Finance strongly recommends that tax on Long Term Capital Gains (LTCG) be abolished for all investments in startup companies.

Sept 15, 2020 2:02 PM

NHAI aims to garner Rs 2,000 cr from fifth TOT bundle, bids in 2-3 weeks

The National Highways Authority of India (NHAI) is likely to invite bids for the next tranche of highways under the toll-operate-transfer (TOT) model within 2-3 weeks, sources close to the development told CNBC-TV18.

The next bundle of highways will include highway assets of a cumulative length of around 180 km, the sources said. This is likely to be called Part A of TOT-5 or TOT Bundle-5 (A-1), indicating that it is expected to be followed by more such small stretches of highways.

This will be the first time that the government is offering smaller bundles of highways under the TOT model as TOT-1 offered 648 km, TOT-2 invited bids for 586 km of highways, TOT-3 offered 566 and TOT-4 initially offered around 400 km. Click here to read more

Sept 15, 2020 1:44 PM

Stock Update: Gayatri Projects' shares traded 4.40 percent higher to Rs 17.80 per share on the NSE after it announced it is the L-1 bidder for a State Water and Sanitation Mission project in Uttar Pradesh. The project is valued at Rs 196 crore, with time-period of 10 years. The project involves construction of Kachonda Kalan Group of villages water supply scheme in Lalitpur, UP.

Sept 15, 2020 1:32 PM

Sept 15, 2020 1:19 PM

Stock Update: Shares of JB Chemicals and Pharmaceuticals surged over 16 percent intraday and hit a 52-week high of Rs 965.00 on the BSE after the company reported strong earnings in the first quarter of fiscal 2021.

The company’s consolidated net profit in Q1FY21 rose 92.4 percent to Rs 119.5 crore from Rs 62.11 crore, YoY. Its net profit margin increased 8.96 percent YoY to 22.88 percent. Revenue during the quarter increased 17.07 percent to Rs 522.28 crore as compared to Rs 446.11 crore in the year-ago quarter. EBITDA in Q1FY21 jumped 61.94 percent to at Rs 155.41 crore while EBITDA margin increased to 29.76 percent.

The stock price of JB Chemicals and Pharmaceuticals rose as much as 16.25 percent intraday. The stock has risen almost 90 percent since April 2020.

Sept 15, 2020 1:01 PM

Technical Experts' View: Ajit Mishra, Religare Broking suggests two stock recommendations. First one is Cipla, with a stop loss at Rs 730 and target of Rs 775. Second is Godrej Consumer Products, as it is is trying to break from long-term declining trendline on the weekly charts. It can be bought at current levels with a stop loss at Rs 690 and target of Rs 750, says Mishra.

Sept 15, 2020 12:47 PM

Stock Update: MindTree's shares hit 52-week high to Rs 1,252 per share on the NSE. The stock is up for the fourth day in a row and also top performer from the Nifty IT index.

Sept 15, 2020 12:41 PM

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