- Axis Direct is a BUY on KEC International, citing a strong recovery for the company in demand post lockdown.
- Markets closed largely flat after a negative open. Nifty 50 closed at 11308.40 (-14.1, -0.1%) , BSE Sensex closed at 38369.63 (-37.4, -0.1%) while the broader Nifty 500 closed at 9284.80 (-6.2, -0.1%). Market breadth is in the green. Of the 1676 stocks traded today, 882 were on the uptrend, and 736 went down.
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SEBI has issued a showcause notice to six promoters of Kirloskar Brothers, in relation to a 2010 stake sale.
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SBI Life Insurance meets with Sunil Singhania's Abakkus Fund, and Ashish Kacholia's Lucky Securities.
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Metropolis Healthcare Management says that business has returned to normalcy in July and August after a sharp dip in the June quarter. Listen to his remarks to investors.
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"July will be 71-72% of our normal disbursements," HDFC CEO Keki Mistry says.
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Markets are lower in early trading. Nifty 50 was trading at 11266.65 (-55.9, -0.5%) , BSE Sensex was trading at 38233.85 (-173.2, -0.5%) while the broader Nifty 500 was trading at 9250.20 (-40.8, -0.4%). Market breadth is in the red. Of the 1526 stocks traded today, 616 were on the uptrend, and 821 went down.
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Motherson Sumi called Q1FY21 "the worst quarter in the company's history", with two of the three months impacted by lockdowns and quarantines. MSSL says that the company expects volumes to reach pre-COVID levels by October-December globally. Currently the company says that they are at 80% of previous year levels in sales.
Riding High:
Largecap and midcap gainers today include InterGlobe Aviation Ltd. (1034.55, 10.10%), Motherson Sumi Systems Ltd. (116.75, 8.45%) and Bosch Ltd. (14327.50, 8.03%).
Downers:
Largecap and midcap losers today include Hindustan Zinc Ltd. (231.55, -6.18%), Crompton Greaves Consumer Electricals Ltd. (249.35, -4.68%) and Info Edge (India) Ltd. (3244.65, -4.31%).
Volume Shockers
37 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included IFCI Ltd. (7.65, 16.79%), IDFC Ltd. (26.30, 15.86%) and JTEKT India Ltd. (72.60, 10.17%).
Top high volume losers on BSE were CCL Products India Ltd. (256.85, -1.55%), VST Industries Ltd. (3423.35, -0.12%) and Indian Bank (64.25, -0.08%).
Oracle Financial Services Software Ltd. (3034.45, 2.52%) was trading at 15.2 times of weekly average. KPR Mill Ltd. (489.40, 8.83%) and Tamil Nadu Newsprint And Papers Ltd. (125.00, 5.26%) were trading with volumes 12.2 and 11.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
15 stocks took off, crossing 52 week highs,
Stocks touching their year highs included - Balkrishna Industries Ltd. (1378.25, 1.87%), Essel Propack Ltd. (276.80, 0.69%) and Firstsource Solutions Ltd. (54.70, -2.58%).
19 stocks climbed above their 200 day SMA including IDFC Ltd. (26.30, 15.86%) and JTEKT India Ltd. (72.60, 10.17%). 15 stocks slipped below their 200 SMA including TV Today Network Ltd. (218.40, -2.43%) and Manappuram Finance Ltd. (154.30, -2.03%).
