Live: Sensex\, Nifty Up 1%; HDFC\, Hero Moto Among Top Gainers

Live: Sensex, Nifty Hold Gains; Nifty Bank Up 450 Points
An employee walks past an electronic board that indicates the latest stock figures at the National Stock Exchange (NSE) in Mumbai (Photographer: Dhiraj Singh/Bloomberg)  

Live: Sensex, Nifty Hold Gains; Nifty Bank Up 450 Points

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Stock Reaction: Bharat Dynamics

The company has informed the exchanges that it has won an order amounting to Rs 293.33 crore towards the supply of MRSAM Missile Sections for Indian Air Force deliverables.

The amount of the order is excluding the GST component. The order has to be executed in the next 24 months.

The stock gained as much as 7.4 percent to Rs 229.8 and is up for the second straight day.

Stock Update: Tata Power

  • Trades at the lowest level since November 1, 2004
  • Falls as much as 5.2 percent to Rs 28.9
  • Has gained only on 4 instances in the last 16 trading sessions
  • Today's volumes are 2.4 times higher than its 30-day average
  • The company will be reporting its fourth quarter earnings on Friday
  • Has fallen 61 percent from its 52-week high of Rs 74.15 on July 3, 2019
  • 13 out of the 18 analysts tracking the stock have a buy recommendation; 2 sell calls
  • Return potential for the stock as per Bloomberg data is 107.5 percent

Markets At Noon

  • Benchmark indices consolidate near day's high
  • Nifty up 1.1 percent at 9,310
  • Nifty futures trade at a premium of 15 points
  • Sensex up 1.2 percent at 31,839
  • Nifty Bank up 2 percent at 19,656
  • Nifty Midcap and Smallcap index up 0.6 percent
  • India Volatility Index down 4.4 percent to 41.67
  • Nifty FMCG (Down 1.5 percent) and Nifty PSU Bank (Down 1.35 percent) remain top sectoral laggards
  • Nifty Auto, Nifty I.T. Index gain 1 percent each
  • HDFC is the top Nifty gainer; up 3.8 percent
  • ITC is the top Nifty laggard; down 6.4 percent
  • 792 stocks on the NSE are advancing while 886 are declining

Stock Update: Mahindra CIE Automotive

  • Up for the seventh straight day
  • Longest winning streak in a month
  • Locked in a 5 percent upper circuit on all seven days
  • Up 40 percent in the last seven sessions
  • Trades at the highest level in nearly two months
  • Today's volumes are low at 0.3 times its 30-day average
  • Stock has entered overbought territory with Relative Strength Index (RSI) at 71
  • The stock has broken above its 50-day Moving Average of Rs 97.34
  • Up 86 percent from its 52-week low of Rs 58.6 on March 25, 2020
  • 9 out of the 10 analysts tracking the stock have a buy recommendation; 0 sell calls
  • Return potential as per Bloomberg data is 20.2 percent

Stock Update: Bharti Airtel

The Delhi High Court has allowed the telecom operator to rectify its GST returns between July-September 2017.

The company had told the high court that it had paid an excess tax of Rs 923 crore as input tax credit as details of that period was based on estimates due to non-operationalisation of the input tax credit (GSTR-2A) form by the government.

The court has allowed the company to rectify its tax filing for the period and has asked the government to verify the claim within two weeks of the rectified return being filed.

Shares gained as much as 3.4 percent to Rs 546 but are off the day's high, trading with gains of 1.74 percent currently at Rs 537.25.