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Market LIVE Updates: Sensex, Nifty fall over 1% each dragged by realty stocks; Airtel, Bajaj Finance top… – Moneycontrol.com

September 28, 2021 / 02:13 PM IST

European markets are trading in the red with FTSE, CAC and DAX down half a percent to 1 percent each

September 28, 2021 / 02:04 PM IST

Rail Vikas Nigam Limited bags order: Rail Vikas Nigam Limited has bagged order worth Rs 382 crore from Madhya Pradesh Metro Rail Corporation including design and construction of seven elevated metro rail stations including viaduct portion within the stations and transition spans on either side of the stations worth Rs 382 crore, the company said. The stock was trading at Rs 30.10, up Rs 0.25, or 0.84 percent. It has touched an intraday high of Rs 30.65 and an intraday low of Rs 29.75.

September 28, 2021 / 02:01 PM IST

Market update at 2 PM: Sensex is down 829.33 points or 1.38% at 59248.55, and the Nifty tumbled 216.90 points or 1.21% at 17638.20. Power Grid, Coal India and NTPC are the top gainers while Bharti Airtel, Bajaj Finance and Tech Mahindra are the top losers.

Among the sectors, the realty index is down over 4 percent while the IT index shed over 2 percent.

September 28, 2021 / 01:41 PM IST

UBS maintain buy on ICICI Prudential Life Insurance;

Foreign research house UBS has maintained buy on ICICI Prudential Life Insurance and raised target price to Rs 800 per share.

The management maintained its guidance of doubling FY19 VNB by FY23, while expect margin expansion to continue.

The average VNB margin seen at 26.2% & VNB CAGR over FY21-24 at 25.7% and expect an APE CAGR of 22.7% over FY21-24E.

ICICI Prudential Life Insurance Company was quoting at Rs 668.55, up Rs 5.35, or 0.81 percent on the BSE.

September 28, 2021 / 01:34 PM IST

BSE Healthcare index fell 1 percent dragged by the Gland Pharma, Themis Medicare, Metropolis Healthcare

BSE Healthcare index fell 1 percent dragged by the Gland Pharma, Themis Medicare, Metropolis Healthcare

September 28, 2021 / 01:23 PM IST

Gold Updates:

Gold prices held steady on Tuesday, as concerns over a potential fallout of Chinese property developer Evergrande’s unsolved debt crisis provided some respite to the safe-haven metal against a firmer dollar and elevated U.S. Treasury yields.

September 28, 2021 / 01:16 PM IST

Anand Rathi on Aditya Birla Sun Life AMC IPO:

At the upper end of the IPO price band, Aditya Birla Sun Life AMC Ltd. is offered at P/E of 39x its FY21 earnings, with a market capitalization of Rs 205,056 million. 

Given that the company is the largest non-bank affiliated AMC and among the four largest AMCs in India with well recognized promoters, growing individual investor customer base, diverse product portfolio with high RoNW of 30.87% in FY21 – We give this IPO a subscribe rating.

September 28, 2021 / 01:02 PM IST

Market at 1 PMBenchmark indices fell over 1 percent in the afternoon session with Nifty below 17,700.The Sensex was down 742.26 points or 1.24% at 59335.62, and the Nifty was down 196 points or 1.10% at 17659.10. About 1177 shares have advanced, 1752 shares declined, and 135 shares are unchanged.

Market at 1 PM Benchmark indices fell over 1 percent in the afternoon session with Nifty below 17,700. The Sensex was down 742.26 points or 1.24% at 59335.62, and the Nifty was down 196 points or 1.10% at 17659.10. About 1177 shares have advanced, 1752 shares declined, and 135 shares are unchanged.

September 28, 2021 / 12:52 PM IST

Nifty Energy index rose 1 percent led by the Power Grid, NTPC, HPCL, Gail India

Nifty Energy index rose 1 percent led by the Power Grid, NTPC, HPCL, Gail India

September 28, 2021 / 12:39 PM IST

Asian Markets Update:

Asian shares were mixed across the region on Tuesday as investors fretted over China Evergrande Group’s debt crisis and a widening power shortage in China.

MSCI’s broadest index of Asia-Pacific shares outside Japan was just slightly higher by mid-afternoon after trading in the red following a mixed session on Wall Street.

September 28, 2021 / 12:34 PM IST

NORD/LB selects TCS as strategic partner for its IT Transformation

Tata Consultancy Services (TCS) has been selected by NORD/LB, a leading German commercial bank, as its strategic partner for its IT transformation. 

Tata Consultancy Services was quoting at Rs 3,772.25, down Rs 64.70, or 1.69 percent on the BSE.

September 28, 2021 / 12:28 PM IST

Amarjeet Maurya – AVP – Mid Caps, Angel One:

Somany Ceramics is a manufacturer and trader of complete decor solutions and its extensive range of products include Ceramic Wall and Floor Tiles, Polished Vitrified Tiles etc. Shift from unorganized (currently – 60%) to organized (currently -40%) tiles markets will benefit branded players like SCL. 

Further, exports anti-dumping duty levied by the US on Chinese players as well as other countries, has been absorbing the Morbi based unorganised volumes, thus improving the demand and pricing scenario for organized players like SCL. 

Going ahead, we expect company to report a healthy bottom-line due to strong brand and wide distribution network and improvement in operating margins.