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Market LIVE Updates: Sensex gains 700 points, Nifty above 17,800; Tata Motors, SBI most active – Moneycontrol.com

January 04, 2022 / 08:04 AM IST

Follow our LIVE blog for the latest updates on the new Omicron variant of COVID-19 and its impact

January 04, 2022 / 03:26 PM IST

Buzzing:

Goldman Sachs (Singapore) Pte.- ODI acquired 30,02,214 equity shares in the company at Rs 46.6 per share via block deal on the BSE. Zaaba Pan Asia Master Fund was the seller.

Lemon Tree Hotels Ltd. was quoting at Rs 49.45, up Rs 1.25, or 2.59 percent.

January 04, 2022 / 03:21 PM IST

BSE Oil & Gas index rose 1 percent supported by the ONGC, RIL, Gujarat Gas

BSE Oil & Gas index rose 1 percent supported by the ONGC, RIL, Gujarat Gas

January 04, 2022 / 03:16 PM IST

Megasoft signs lease agreement for property at Nanakramguda, Hyderabad

Megasoft has concluded and signed a Lease agreement for the third and final block (Block 3) for its share, and part rental payments are expected to be received from QL of 2022 after adjusting for the rent-free period.

THe company is in the process of negotiation and finalization of accounts with its JDA Partner M/s Darshita Infrastructure Pvt Ltd (Salarpuria Sattva group) to conclude on its final shqrc and payments to be settled, details of which will be published in the financial year end acconts (2021-22).

Megasoft touched a 52-week high of Rs 83.60 and was quoting at Rs 83.60, up Rs 3.95, or 4.96 percent on the BSE.

January 04, 2022 / 03:08 PM IST

Railtel Corporation of India board meet on January 10 to consider interim dividend

A meeting of the board of directors of Railtel Corporation of India is scheduled to be held on January 10, 2022, to consider declaration of interim dividend, if any, for the financial year 2021-22, company said in its release. 

Railtel Corporation of India was quoting at Rs 119.50, up Rs 2.45, or 2.09 percent on the BSE.

January 04, 2022 / 03:01 PM IST

Market at 3 PMBenchmark indices gained further ground with Sensex up more than 500 points and Nifty above 17700 led by the bank, oil & gas and power stocks.The Sensex was up 642.41 points or 1.09% at 59825.63, and the Nifty was up 164.50 points or 0.93% at 17790.20. About 1680 shares have advanced, 1450 shares declined, and 79 shares are unchanged.

Market at 3 PM Benchmark indices gained further ground with Sensex up more than 500 points and Nifty above 17700 led by the bank, oil & gas and power stocks. The Sensex was up 642.41 points or 1.09% at 59825.63, and the Nifty was up 164.50 points or 0.93% at 17790.20. About 1680 shares have advanced, 1450 shares declined, and 79 shares are unchanged.

January 04, 2022 / 02:51 PM IST

US dollar hits 5-year high vs yen

The U.S. dollar rose to a five-year high versus the yen on Tuesday, boosted by expectations of U.S. Federal Reserve rate hikes, as investors bet that the fast-spreading Omicron coronavirus variant would have limited economic impact.

In the second trading day of 2022, global markets extended the upbeat moves seen on Monday.

The dollar’s gains were helped by a rise in U.S. treasury yields, as investors bet on the Fed raising rates, with the U.S. 2-year and 5-year notes soaring to their highest since March 2020.

January 04, 2022 / 02:42 PM IST

CV upcycle continues; PVs to see improvement ahead: Emkay Global Financial Services

December 2021 saw a continued uptrend in domestic CV volumes, but other segments were weak, mainly due to supply issues, muted sentiment, and a high base from last year, said Emkay Global Financial Services. 

Improving chip supplies is expected to lead to a sequential improvement in volumes for PVs ahead. 

In comparison, 2-wheelers demand may be impacted in the near term due to the increase in Covid cases, which may adversely affect the sentiment of low-income category customers and delay a complete re-opening of educational institutions/offices, it added. 

January 04, 2022 / 02:34 PM IST

Way2Wealth Research on Emami: Emami is a market leader in several categories and with low penetration of key categories, there is room for double-digit growth across the power brands. Emami is focused on strengthening its direct reach (project Khoj) and reducing its dependence on the wholesale channel. A wider distribution, new product launches and sustained growth opportunity in the healthcare portfolio will be key growth drivers for the company.

Emami’s investment in online business would help accelerate the journey towards having a future ready male grooming portfolio and to focus on strategic investments in start-ups to incubate new engines of growth. The promoter pledge has reduced to 30% in March 2021 from its peak in March 2020, the management has guided to reduce it further in next couple of quarters.

Considering all the above factors, Emami is in a strong position to drive growth in the medium to longer term. The stock should see upside as it’s available at a discount to peers. At the current price of Rs 521, it is trading at ~40.7 times P/E to its EPS(TTM) of Rs 12.8, making it an attractive pick at the current valuation. We recommend investors to accumulate the stock on dips.

January 04, 2022 / 02:27 PM IST

European markets updates

European markets updates

January 04, 2022 / 02:22 PM IST

Tapan Patel, Senior Analyst (Commodities), HDFC Securities: Crude oil prices traded higher with NYMEX WTI Crude oil prices were trading 0.26% up near $76.28 per barrel for the day. Crude Oil prices traded up ahead of OPEC plus meeting to discuss plans to add supply in February 2022. However, the fuel demand outlook remained optimistic as the rising number of COVID-19 cases globally has tightened restrictive measures in the biggest fuel-consuming countries. OPEC plus nations will probably stick to their plan to add 400,000 barrels per day of supply in February when they meet today.

Crude oil prices are expected to trade sideways to up with resistance at $78 and support at $74 per barrel. MCX Crude oil January has support at Rs 5630 and resistance at Rs 5760.

January 04, 2022 / 02:11 PM IST

NTPC Valuation Stands Out On Risk-reward Maths

NTPC Valuation Stands Out On Risk-reward Maths

Considering low valuation and improving earnings visibility, the NTPC stock could take on shine again