MARKETS LIVE: Indices trade higher, Nifty above 10,500; metals gain

Markets, Up, Down, BSE, NSE, StocksM&M joins Rs 1-trillion market-cap club; stock hits new high Mahindra & Mahindra (M&M) has joined the elite club Rs 1-trillion market capitalization (market-cap) on the BSE, as its share price hit an all-time high of Rs 819 in early morning trade on Tuesday. With the market-cap of Rs 1.01 trillion at 10:00 am; M&M stood at number 30th position in overall market-cap ranking, the BSE data shows. Currently, M&M stood just behind of Tata Motors, which has market-cap of Rs 1.08 trillion (include Tata Motors DVR). READ MORE . Investors bet high on SIPs: MFs garner Rs 672 bn in FY18, up 53% from FY17   Retail investors are preferring SIP option for investing in mutual funds, with the industry garnering around Rs 671.9 billion through this route in 2017-18, an increase of 53 per cent from the preceding fiscal.   In comparison, Rs 439.21 billion was collected through the investment plan in 2016-17, according to the latest update with Association of Mutual Funds in India (Amfi). READ MORE Bajaj Electricals shares surge 7% on order win of Rs 35.78 billion in UP   Shares of Bajaj Electricals have surged 7% to Rs 660 per share on the BSE in early morning trade after the company said it has bagged orders worth of Rs 35.78 billion for rural/urban electrification projects in the state of Uttar Pradesh from Madhyanchal Vidyut Vitaran Nigam Limited (MVVNL).   The projects shall be completed within 15 months from the date of issue of LoI, the company said in the filing. READ MORE Market Check   S&P BSE Sensex 34,362.31 0.17%   Nifty 50 10,542.10 0.13%   S&P BSE 200 4,639.65 0.26%   Nifty 500 9,331.40 0.22%   S&P BSE Mid-Cap 16,806.49 0.43%   S&P BSE Small-Cap 18,180.21 0.54% ICICI Prudential Mutual Fund is top public shareholder in ICICI Securities   ICICI Prudential Mutual Fund (MF) has emerged as the largest public shareholder in sister concern, ICICI Securities, which debuted earlier this month.   The country’s largest asset manager invested Rs 6 billion, nearly a fifth of the issue size, in the group company’s initial public offering (IPO), which had garnered 78 per cent subscription. Through the maiden offer, parent ICICI Bank was looking to divest a 24 per cent stake for Rs 40 billion. However, the private lender could divest only a 20.8 per cent stake due to lack of demand and raised Rs 35 billion. READ MORE Cheer for ONGC investors: Higher oil and gas prices should drive earnings The Oil and Natural Gas Corporation (ONGC) stock has significantly lagged the benchmark S&P BSE Sensex over the past year, even as prices of crude oil, its mainstay, have rallied (see chart). There has been some catching up in the past week, led by improving prospects in the business. If the trend sustains, which seems likely, ONGC’s investors could see good returns. READ MORE
Source: Business Standard