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Market LIVE Updates: Indices at day’s high, Nifty above 17,200; Asian Paints, RIL, Coal India top gainers – Moneycontrol

April 21, 2022 / 07:44 AM IST

Follow our LIVE blog for the latest updates on the Russia-Ukraine and its impact

April 21, 2022 / 10:38 AM IST

Morgan Stanley bumps up Reliance target as conglomerate eyes blue hydrogen crown, popping off shares to 52 week high

Morgan Stanley has upgraded target price to Rs 3,253 a share and reiterated its overweight rating

April 21, 2022 / 10:32 AM IST

Nestle India has reported Q1 net profit at Rs 594.7 crore and revenue at Rs 3,980.7 crore.

Nestle India has reported Q1 net profit at Rs 594.7 crore and revenue at Rs 3,980.7 crore.

April 21, 2022 / 10:21 AM IST

BSE Healthcare index jumped 1 percent supported by the Gland Pharma, Sequent Scientific, Aster DM Healthcare

BSE Healthcare index jumped 1 percent supported by the Gland Pharma, Sequent Scientific, Aster DM Healthcare

April 21, 2022 / 10:16 AM IST

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:

Markets often overreact, both on the upside and downside. As sanity sets in, prices normalise. The stretched valuations of IT stocks, particularly in the mid-cap space, was the consequence of the market overreacting to excellent results and good earnings visibility. 

Slight disappointments in expectations swing the pendulum to the other side, depressing prices. Even though there is some margin pressure in IT, results of mid-cap IT stocks indicate that earnings momentum is strong.

Similarly the relentless selling in HDFC twins by FIIs and shorting by bears who swim with the FII current have created another case of overreaction depressing prices to fundamentally unjustifiable levels.

Short-term overreaction and corrections in valuations are opportunities for discerning long-term investors.

April 21, 2022 / 10:10 AM IST

Gold Prices Today: Yellow metal to remain under pressure ahead of US job data, Jerome Powell speech

Gold Prices Today: Yellow metal to remain under pressure ahead of US job data, Jerome Powell speech

Ravindra Rao of Kotak Securities is of the view that with mixed factors, prices may remain rangebound but we may see some selling pressure if equities manage to build on recent gains.

April 21, 2022 / 10:05 AM IST

India to offer incentive to boost green hydrogen output

The central government plans to introduce a production-linked incentive scheme to encourage the manufacturing of electrolyzers that are needed to extract hydrogen from water. The power ministry and the NITI Aayog are working on the specifics of the scheme, which is likely to be launched by September. The incentive scheme is likely to run for five years.

April 21, 2022 / 10:01 AM IST

Market at 10 AMBenchmark indices extended the early gains and trading near the day’s high levels with Nifty around 17250The Sensex was up 408.06 points or 0.72% at 57445.56, and the Nifty was up 115.60 points or 0.67% at 17252.10. About 2209 shares have advanced, 686 shares declined, and 101 shares are unchanged.

Market at 10 AM     Benchmark indices extended the early gains and trading near the day's high levels with Nifty around 17250    The Sensex was up 408.06 points or 0.72% at 57445.56, and the Nifty was up 115.60 points or 0.67% at 17252.10. About 2209 shares have advanced, 686 shares declined, and 101 shares are unchanged.

April 21, 2022 / 09:57 AM IST

Post-COVID recovery needs coordinated action from nations: Sitharaman

There is an urgent need for coordinated action among nations to enable a swift economic recovery after the Covid-19 pandemic, and to build resilience to future shocks, finance minister Nirmala Sitharaman has said at the G20 Emerging Market Economies meeting in Washington DC.

April 21, 2022 / 09:52 AM IST

Nifty PSU Bank index gained 1 percent supported by the Canara Bank, Union Bank of India, Indian Bank

Nifty PSU Bank index gained 1 percent supported by the Canara Bank, Union Bank of India, Indian Bank

April 21, 2022 / 09:43 AM IST

Corporates commit Rs 2.34 trillion to production-linked incentive scheme

India’s production-linked incentive scheme to encourage local manufacturing has generated investment commitments of Rs 2.34 trillion across 14 sectors, according to data from various ministries. The government expects the scheme to generate additional output worth Rs 28.15 trillion and 6. 45 million new jobs in the next five years. The total outlay for the scheme is Rs 1.97 trillion.

April 21, 2022 / 09:40 AM IST

Reliance Industries touched a 52-week high of Rs 2,771, market cap close to Rs 19 lakh crore

Reliance Industries touched a 52-week high of Rs 2,771, market cap close to Rs 19 lakh crore