LIVE: Reliance looks at $3 billion price tag for Future Group, Escorts gains

Reliance Industries, in its ongoing bid to dominate multiple industries, will reportedly pay upto $3.6 billion for the retail chains owned by the Future Group. Reliance has raised over $20 billion recently from multinational firms and funds in the last six months.
The market closed on an upbeat note. Nifty 50 closed at 11292.00 (160.2, 1.4%) , BSE Sensex closed at 38492.95 (558.2, 1.5%) while the broader Nifty 500 closed at 9136.75 (111.9, 1.2%)

Market breadth is neutral. Of the 1659 stocks traded today, 775 showed gains, and 801 showed losses.
NBFC Manappuram Finance says that it is raising an additional Rs. 500 crore of capital, via private placement bonds.
Kotak Bank is rising today on June quarter results. The management expressed caution on the post-Covid recovery, saying they expect business to near 2019 levels only by the fourth quarter of FY21.
Despite the buzz of a strong rural economy in the midst of COVID19, Escorts saw weak tractor sales, and its June quarter was primarily saved by reductions in operating expenses.
Tech Mahindra has reported a marginal rise in first-quarter profits, and is rising post its Q1 performance.
Edelweiss is a BUY on ICICI Bank with a target price of Rs. 525.
HDFC Securities is a BUY on KEC International, noting its well-diversified order book and signs of demand recovery.
Upbeat trading today, as Nifty 50 was trading at 11201.55 (69.8, 0.6%) , BSE Sensex was trading at 38209.42 (274.7, 0.7%) while the broader Nifty 500 was trading at 9078.90 (54, 0.6%). Market breadth is in the green. Of the 1459 stocks traded today, 911 showed gains, and 486 showed losses.

Riding High:

Largecap and midcap gainers today include GMR Infrastructure Ltd. (23.45, 8.82%), UltraTech Cement Ltd. (4136.35, 7.16%) and Apollo Hospitals Enterprise Ltd. (1599.20, 6.02%).

Downers:

Largecap and midcap losers today include Edelweiss Financial Services Ltd. (74.10, -4.76%), Havells India Ltd. (575.90, -3.24%) and Bharat Electronics Ltd. (96.55, -2.87%).

Movers and Shakers

19 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Thyrocare Technologies Ltd. (722.35, 14.25%), Prestige Estates Projects Ltd. (193.30, 12.03%) and Birlasoft Ltd. (117.70, 8.58%).

Top high volume losers on BSE were Maharashtra Seamless Ltd. (207.35, -6.93%), Va Tech Wabag Ltd. (126.15, -3.74%) and Aavas Financiers Ltd. (1325.00, -1.30%).

Advanced Enzyme Technologies Ltd. (172.20, 7.96%) was trading at 16.2 times of weekly average. PTC India Ltd. (52.40, 4.90%) and UltraTech Cement Ltd. (4136.35, 7.16%) were trading with volumes 5.8 and 5.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

13 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Deepak Fertilisers & Petrochemicals Corporation Ltd. (147.70, 2.82%), HCL Technologies Ltd. (712.45, 1.62%) and Mahindra & Mahindra Ltd. (620.35, 4.37%).

30 stocks climbed above their 200 day SMA including KEC International Ltd. (281.55, 7.40%) and UltraTech Cement Ltd. (4136.35, 7.16%). 10 stocks slipped below their 200 SMA including Heritage Foods Ltd. (279.05, -4.99%) and Edelweiss Financial Services Ltd. (74.10, -4.76%).