The outlook for steel prices, Europe profitability and the timeline for expansion will be key.
Net debt fell Rs 10,700 crore partly helped by proceeds from a share issuance.
Best-ever standalone profitability boosted by inter-company iron sales.
Q1 likely to be even stronger.
Deleveraging on track, focus shifts to expansion projects.
Rated Buy with a target price of Rs 1,064.
03:58 AM
IDBI Bank Ltd. rose 10% after a plan to privatize the lender was approved.
The government plans to sell all or part of its 45.5% stake in the lender, as well a state-owned Life Insurance Corp. of Indiaâs 49.2% ownership, according to a government statement on Wednesday. The sale envisages ceding management control, according to the statement.
Deepak Nitrite, Oracle Financial, Blue Dart Express,
JM Financial, Ceat, Craftsman Automation, Angel Broking and Shalby are among companies that will announce their March quarter results today.
FPIs sell Rs 1,772 crore worth stocks
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 1,772.37 crore, data available with NSE suggested. DIIs were net buyers to the tune of Rs 987.34 crore, data suggests.
MONEY MARKETS
Rupee: Rising for the second day in a row, the rupee closed 10 paise higher at 73.85 against the US currency on Tuesday on dollar selling by traders.
10-year bonds: India 10-year bond yield fell 0.48 per cent to 6.00 after trading in 6.00-6.02 range.
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Mashreq to implement Oracle s Transaction Banking platform 5 hours ago
Source: Oracle Mashreq Bank, one of the United Arab Emirates’ leading financial institutions, is modernizing its award-winning transaction banking capabilities in the Middle East and Africa with Oracle. To deliver faster innovation to its growing customer base, Mashreq will implement Oracle s Transaction Banking platform with solutions for digital banking, payments, trade finance, liquidity management, and virtual accounts. With Oracle s componentized solution approach, Mashreq can better respond to the region s need for capital diversification and funding of local businesses.
Sensex leaps as RBI allows restructuring of loans: What else is impacting D-Street today
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Synopsis
The market is currently caught between the fear of economic fallout from the second wave of infections and hopes arising from the flattening of the pandemic curve, one analyst said.
The S&P BSE Sensex index rose to as high as 48,620.51 in early deals.
NEW DELHI: Domestic benchmark indices opened with gains on Wednesday and maintained their lead after RBI Governor Shaktikanta Das announced a number of monetary measures to battle implications from worsening pandemic
The market is currently caught between the fear of economic fallout from the second wave of infections and hopes arising from the flattening of the pandemic curve. It will take some more time for clarity to emerge on which of the two will have a higher impact on market, said an analyst.
Explore Now
Nifty futures on the Singapore Exchange traded 14 points, or 0.10 per cent, lower at 14,518.50 in signs that Dalal Street was headed for a negative start on Wednesday. Here are a dozen stocks which may buzz the most in today s trade:
Tata Steel, Adani Green Energy: Adani Green Energy,
Adani Enterprises, Gillette India, Deepak Nitrite, Oracle Financial, Blue Dart Express, JM Financial,
Ceat, Craftsman Automation, Angel Broking and Shalby are among companies that will announce their March quarter results today.
RBL Bank: Small-sized private lender RBL Bank reported a 34 per cent decline in its March quarter profit to Rs 75 crore compared to Rs 114 crore in the year-ago period due to provisioning for possible loan losses that it sees in the retail unsecured segments.