Thank you readers! Here are the key highlights from today's session

- Sensex & Nifty End At Record Closing Highs Amid Volatility

- Nifty Gains 44 Points To 13,558 & Sensex 154 Points To 46,253

- Nifty Bank Climbs 141 Points To 30,746 & Midcap Index 134 Points To 20,571

- PSU Companis Amongst Top Gainers Today With Nifty CPSE Up Over 3%

- BPCL, IOC, NTPC, Coal India & ONGC Gain 2-6%

- Cipla Moves 4% Higher On Co’s Settlement For Revlimid Generic Litigation

- Burger Kings Makes Strong Debut; Closes At 135 Vs Issue Price Of 60

- Autos See Profit Booking; Eicher, Hero & M&M Top Nifty Losers

- Market Breadth Favours Advances; Advance-Decline Ratio At 2:1

Dec 14, 2020 3:39 PM

Closing Bell: Sensex, Nifty end at record close; broader markets outperform

Indian indices ended at record close on Monday, tracking gains in Asian peers as progress on COVID vaccine lifted investor sentiment. bank home, gains were led by bank, financials, metal and pharma sectors. The Sensex ended 154 points higher to its record close of 46,253 while the Nifty rose 44 points to its closing high of 13,558. In intraday deals as well, The Sensex hit its all-time high of 46,373, rising as much as 274 points while the Nifty climbed its record high of 13,597, up as much as 83 points.

Broader markets, however, outperform benchmarks during the day with the Nifty Midcap and Nifty Smallcap indices up 0.5-1 percent each. On the Nifty50 index, ONGC, L&T, Cipla, Coal India, and IOC were the top gainers while Eicher Motors, Hero Moto, M&M, HDFC Life and Tech Mahindra led the losses. Among sectors, all except Nifty Auto and Nifty Realty, ended in the green. The Nifty Metak index rose 1.4 percent while the Nifty Bank, Nifty Fin Servcies and Nifty IT added 0.4 percent each. Nifty Pharma was also up 0.7 percent for the day. Meanwhile, Nifty Auto fell 1 percent and Nifty Realty lost 0.9 percent.

Dec 14, 2020 3:33 PM

Sugar export subsidy: Cabinet likely to clear on Wednesday

The Union Cabinet may clear the sugar export subsidy on Wednesday, said All India Sugar Trade Association (AISTA) chairman Praful Vithalani on Monday. “As per industrial sources, within next some days, maybe Wednesday this can go through and it will be more helpful to the industry and farmers so it will be a support to the domestic prices,” Vithalani said. On sugar buffer stocks, Vithalani said, “I am not surprised that in this season 2020, India may divert sugar of 20 lakh metric tonne to ethanol. Because this will help the government to avoid a buffer stock, though we need it of course but I think this will prove helpful that 20 lakh metric tonne sugar will be diverted for ethanol.”

Dec 14, 2020 3:22 PM

Dec 14, 2020 3:10 PM

Larsen & Toubro | L&T Construction has bagged contracts in the range of Rs 1,000-2,500 crore for various businesses.

Dec 14, 2020 2:58 PM

Sanjay Kumar, CEO & MD, Elior India

The increasing trend in wholesale price inflation is essentially a mixed bag. At one end, hopefully, the price rise is on the back of increased demand and not because of an increase in input cost for manufacturing, because that would be a cause of concern as it would mean that the logistics and supply chain cost are driving inflation.

If it is not that and is driven purely by demand, then it is a welcome sign as it signals an improvement in the economy, however, one would have to watch with caution whether the RBI decides to tighten the monetary policy in view of the rising inflation.

Dec 14, 2020 2:46 PM

Mrs. Bectors Food Specialities IPO opens tomorrow; key things to know

The Rs 540.54 crore-IPO of the bread and biscuit maker Mrs. Bectors Food Specialties Ltd will open for subscription on December 15 at a price band of Rs 286-288 per share.Get latest Market online at…

Dec 14, 2020 2:33 PM

Yes Securities adds ICICI Bank, CAMS to model portfolio

Domestic brokerage Yes Securities has made changes to its model portfolio for investors. The brokerage has added ICICI Bank and CAMS to its portfolio while removing Reliance Industries PP and Tata Consumer Products and booked profits. ICICI Bank has 4 percent weight in the portfolio and CAMS has 3 percent weight. Tata Consumer Products had 3.1 percent weight in the portfolio while Reliance Industries PP formed 0.7 percent of the portfolio. Click here for rationale

Dec 14, 2020 2:20 PM

Have been investing in value stocks, says BNP Paribas’ Manishi Raychaudhuri

Indian valuations are expensive but one needs to factor in low interest rates as well, said BNP Paribas’ Manishi Raychaudhuri on Monday. Speaking with CNBC-TV18, Raychaudhuri also said that earnings upgrades in India are encouraging. Raychaudhuri said that the BNP Paribas is incrementally moving into the value stocks. “We have increased position in materials, in some pockets of industrials, also consumer discretionary, the classic value picks,” he said. Raychaudhuri also said that they continue to remain invested in tech stocks and believe the companies will continue to do well. In commodities, he likes the metals pack but advised caution while picking stocks. Watch video for more

Dec 14, 2020 2:07 PM

Dec 14, 2020 1:51 PM

Investment will not come in unviable power sector, says R K Singh

Power Minister R K Singh on Monday expressed concerns about the sustainability of state-owned loss-making discoms saying investments in the power sector will not come unless there is viability in the system. ”Investment will not come unless and until there is viability in the system, unless and until the people who put money are assured that power they generate and sell will be paid for. That is the basic problem of sustainability we are facing,” Singh said at the 93rd annual general meeting of industry chamber FICCI. Singh’s statement assumes significance as India aims to move towards higher economic growth rate which requires an efficient and vibrant power sector. The minister further said, ”I am worried about sustainability (of discoms) because a large number of discoms are loss making. Most of the state-owned discoms are loss making. None of the private-owned discoms are loss making as their aggregate technical and commercial (AT&C) losses are below norm.” The minister further explained that the discoms are not able to pay for the power supply from gencos because they are making losses, ”which causes stress upstream and dampens investment”.

Dec 14, 2020 1:38 PM

CNBC-TV18 Exclusive: Evaluation committee on BPCL strategic sale to meet Tuesday to evaluate EoIs

The evaluation committee on the Bharat Petroleum Corp Ltd (BPCL) strategic stake sale will meet tomorrow, i.e. December 15, to evaluate the 3 expressions of interest (EoI) received for the OMC major, exclusive oil ministry sources informed on Monday. The committee said that they are not concerned about oil gains not participating in BPCL's sale process. Additionally, they assured about business continuity post-BPCL's strategic stake sale, sources further informed. 3 EoIs have been received for BPCL from Vedanta, Apollo Global, and Think Gas. The government is selling 52.98 percent stake in BPCL under strategic sale. The government in November received 'multiple' bids for buying out its stake in India's second-biggest fuel retailer BPCL but billionaire Mukesh Ambani's Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid.

Dec 14, 2020 1:24 PM

Macquarie lists 7 largecap ideas with a potential upside of over 20%

Global brokerage firm Macquarie carries a 60 bps 'overweight' position on India, which is down from over 80 bps in February 2020 and 130 bps in December 2019. In a recent report, Macquarie noted that…

Dec 14, 2020 1:10 PM

Subscription revenues to be key driver; building infra for streaming: Sun Group

Sun TV has seen a dramatic recovery in ad revenue, but the recovery may not be sharp enough to recover the deficit of first six months, said SL Narayanan, Group CFO of Sun Group. “We have seen a dramatic recovery of sorts. We saw a sharp recovery in the second quarter and Q3 has been even better,” he said in an interview to CNBC-TV18.

“I think subscription will perhaps become the mainstay of media companies like ourselves. 9 years ago when I joined Sun, our subscription revenues were averaging around Rs 85 crore a quarter which was Rs 340 crore run rate annually. That number has almost touched Rs 2,000 crore 9 years down the line and we are only seeing greater momentum in subscription. So, my own guess at this time is subscription will perhaps become the mainstay of media companies,” he said. e also said that they have been working on building infrastructure for streaming segment in last 3-4 years and are looking at spending about Rs 200 crore on acquisition of content. More here

Dec 14, 2020 12:55 PM

SC on Loan Moratorium LIVE Updates: Justice Ashok Bhushan bench to resume hearing today

SC on Loan Moratorium LIVE Updates: The Supreme Court will continue hearing in the loan moratorium or interest waiver case on Monday. A bench of Justices Ashok Bhushan, R S Reddy and M R Shah will…

Dec 14, 2020 12:37 PM

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