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Buy Biocon, target price Rs 350: Edelweiss

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On expected lines, Indian equity market staged a strong relief rally on Tuesday. NSE Nifty made a healthy start to the day and continued to add gains as the session progressed. The benchmark index finally settled with a massive gain of 708.40 points or 8.76 per cent at 8,792.20.

The market has now started to show initial signs of a short term

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Sensex rallies 2,500 points to top 30,000: Will the rally sustain?
Equity benchmarks Sensex and Nifty rallied nearly 9 per cent in Tuesday’s trade, following positive global cues and hope of some easing in the 21-day nationwide lockdown next week.

However, market experts believe the rally is unlikely to sustain as uncertainty over the Coronavirus crisis continues across the globe.

BSE Sensex surged 2,476 points

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Mumbai: The stock market soared 9 per cent on Tuesday — its biggest one-day gain since May 2009 — as early signs of Covid-19 cases peaking in countries hit hard by the pandemic boosted confidence among investors. The fall in death toll in New York, which has seen the most number of cases in the US, fuelled an overnight rally on Wall Street and in
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Bulk Block Deals: UBS Principal Capital Asia laps up IndusInd Bank shares
Mumbai: Companies such as IndusInd Bank, Cox - Kings and Reliance Capital saw bulk deals in Tuesday’s trade.

For the day, the 30-share Sensex jumped 8.97 per cent or 2,476.26 points to close at 30,067.21, while 50-share Nifty rose 8.69 per cent or 702.10 points to close at 8,785.90. It was the highest-ever point-wise gain for both the

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Trending stocks: Lupin shares rise 6% in early trade
NEW DELHI: Shares of Lupin traded 6.22 per cent up in Tuesday 's trade at 10:33 am (IST).

Around 2104079 shares changed hands on the counter. The stock opened at Rs 690 and touched an intraday high and low of Rs 704.75 and Rs 670.25 , respectively, in the session so far.

The stock quoted a 52-week high of Rs 914.9 and a 52-week low of Rs 544.25

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The Indian stock market is poised for ‘outsized’ returns if the yield on the trailing 12-month Nifty earnings over the 10-year government bond yield is anything to go by.

The trailing 12-month Nifty earnings yield has turned higher than the government bond yield for the first time since 2009 by 10 basis points, said Spark Capital. There have been

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NSE penalises over 50 brokers for failing to comply with new derivatives rules
MUMBAI: The National Stock Exchange (NSE) has penalised over 50 brokers for failing to comply with the new derivative market rules that were introduced by the capital markets regulator later in March in an attempt to tamp down wild bets, said atleast two brokers privy to the development.

The exchange has fined these brokers in the range of Rs 3

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Trending stocks: CESC shares jump 6% in early session
NEW DELHI: Shares of CESC traded 5.89 per cent up in Tuesday 's trade at 10:27AM (IST).

Around 261604 shares changed hands on the counter. The stock opened at Rs 434.95 and touched an intraday high and low of Rs 451.5 and Rs 432.5 , respectively, in the session so far.

The stock quoted a 52-week high of Rs 948.35 and a 52-week low of Rs 369.95 .

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Kotak, HDFC Banks report surge in Q4 deposits, advances
Mumbai: Private sector lenders HDFC Bank and Kotak Mahindra Bank outperformed their peers on deposits and advances in the March quarter that was marked by flight of deposits, beginning of a national lockdown to combat Covid-19 and a regulatory moratorium on loans repayment.

HDFC Bank’s deposits grew 24 per cent year on year (YoY) to Rs 11.46 lakh c

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CRISIL downgrades Mercedes-Benz India by a notch
CRISIL Ratings downgraded premium car manufacturer Mercedes-Benz India Pvt. Ltd (MBIL) by a notch citing production cuts and weaker demand amid COVID19 outbreak.

The Indian arm of global rating company S-P cut the creditworthiness to AA+ with negative outlook from triple-A/negative on long term bank credit facilities upto Rs 1,500 crore.

“Given

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Kotak Mahindra Bank shares rally on 12% growth in March quarters deposits
Shares of Kotak Mahindra Bank advanced over 5 per cent in Tuesday’s early trade after the private sector lender on Monday posted a rise in deposit base for the March quarter, and announced a reduction in savings account rates for high value customers.

Kotak Mahindra Bank witnessed an 11.7 per cent growth in customer deposits and a 1.3 per cent

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Buy Sobha, target price Rs 438: CLSA
CLSA has maintained buy rating on Sobha with a target price of Rs 438. The stock ended up 9.9 per cent at Rs 176.10 on Tuesday while the BSE sensex closed 2476.26 points up (+8.97 per cent) at 30,067.21.

Sobha Ltd., incorporated in 1995, has a market cap of Rs 1670.24 crore. Investment RationaleDue to the lockdown, sales and construction at all

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Dow Jones gains on signs of coronavirus slowdown
NEW YORK: Wall Street fell on Tuesday, as a drop in oil prices steepened in the latter stages of the session and erased early gains built on tentative signs that coronavirus outbreaks in some of the biggest U.S. hot spots may be leveling.

The S-P initially appeared poise to add to a 7% jump on Monday, after health officials said the pandemic

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Trending stocks: Bharat Gears shares gain 5% in early trade
NEW DELHI: Shares of Bharat Gears Ltd. traded 4.84 per cent up in Tuesday 's trade at 10:20 am (IST). Around 555 shares changed hands on the counter. The stock opened at Rs 28.15 and touched an intraday high and low of Rs 28.15 and Rs 28.15 , respectively, in the session so far.

The stock quoted a 52-week high of Rs 180.69 and a 52-week low of

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Buy HDFC Bank, target price Rs 1,150: Motilal Oswal

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F O: Good signs of relief for the bulls, market bounce may sustain
By Chandan Taparia

Nifty started the week on a positive note on Tuesday on the back of favourable cues from global bourses. After many days, the bulls became active from early trade and continued to pull the market higher, as the session progressed. It was a perfect bear market rally on the back of strong short covering seen in many index

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HDFC Bank rallies 8% as deposits grow 24%
NEW DELHI: HDFC Bank climbed nearly 8 per cent in Tuesday’s trade after the private lender has said its advances aggregated to Rs 9.93 lakh crore as of March 31, marking a growth of about 21 per cent as compared to Rs 8.19 lakh crore a year ago and Rs 9.36 lakh crore on December 31, 2019.

The bank's deposits aggregated to Rs 11.46 lakh crore,

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Mumbai: Hindustan Unilever, the bluest of the blue chips that helped cement India’s mass equity culture pioneered by Reliance Industries, Tuesday crossed ₹5 lakh crore in market value, reinforcing its growth-leader credentials within the Anglo-Dutch major’s global operations. HUL became the fourth company to cross the threshold, after Reliance
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Market Movers: Private banks, pharma soar; investors get richer by Rs 8L cr
Tracking recovery in global equities, Indian equity benchmarks rebounded sharply on Tuesday led by the blue chips, even though the Covid pandemic situation in India remained precarious.

Private bank and pharma stocks were on the forefront of the rally. Banks reported a big jump in advances in Q4, while pharma companies got some relief as the

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Trending stocks: Welspun Corp share price jumps 4%
NEW DELHI: Shares of Welspun Corp Ltd. traded 4.2 per cent up in Tuesday 's trade at 10:13AM (IST).

Around 235044 shares changed hands on the counter. The stock opened at Rs 67.5 and touched an intraday high and low of Rs 67.5 and Rs 65.4 , respectively, in the session so far.

The stock quoted a 52-week high of Rs 232.9 and a 52-week low of Rs

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Sebi opens doors for Mauritius based funds to get preferential Cat I FPI license
Market regulator the Securities and Exchange Board of India(Sebi) has opened the doors for Mauritius based funds to get preferential category I foreign portfolio investor(FPI) license. Until now, only the off-shore funds coming from jurisdictions that are Financial Action Task Force(FATF) complaint were allowed to obtain a category I license.
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Hotels, restaurants, real estate were not taboo for banks
MUMBAI: Hotels, tourism and commercial real estate may be the worst-hit sectors amid the Covid-19-driven lockdown, according to experts, causing a reversal of sorts since this cluster contributed the most to the credit growth of banks until February this year.

While the tourism, hotels and restaurants segment saw a 16.9% year-on-year increase in

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Nothing much has changed for Kanpur-based equity investor Ekansh Mittal (32) even though the ongoing 21-day nationwide lockdown has forced him to work from home (WFH).

“The market is working like it was before the lockdown, and so am I,” says he. If at all, an afternoon nap has been the new addition to his daily routine, says he.

Does that mean he

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DHFL not to make any payment to lenders, bondholders
New Delhi: Dewan Housing Finance Corporation (DHFL) on Tuesday said it will not make any interest or principal payment to lenders as well as bond holders as the company is under resolution process.

The Corporate Insolvency Resolution Process (CIRP) was initiated against the debt-ridden company as per the provisions of the Insolvency and Bankruptcy

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Tech View: Bulls are back but Nifty needs to take out hurdle at 9,040
NEW DELHI: Nifty50 climbed over 700 points on Tuesday and ended near the 7,800 mark. In the process, the index formed a large bullish candle on the daily chart. Analysts said the index needs to cross the 8,360 level for an initial target above the 9,040 level.

During the session, the index saw a breakout above its Inverted Head - Shoulders

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IndusInd Bank soars 20% as deposits, advances jump in challenging times
Shares of IndusInd Bank jumped 20 per cent in Tuesday's trade after the lender said its net advances jumped 13 per cent to Rs 2,09,914 crore as of March 31.

The bank had net advances of Rs 2,07,413 crore as of December 31 and Rs 1,86,393 crore a year ago.

The stock soared 20 per cent to hit a high of Rs 375.90 on BSE.

The private lender said its

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Wipro to announce Q4 results on April 15
New Delhi: IT major Wipro on Tuesday said it will announce its fourth-quarter and FY20 results on April 15.

There are speculations that announcement of corporate earnings for March quarter could be delayed given the ongoing lockdown amid COVID-19 outbreak.

"meeting of the Board of Directors will be held on April 15, 2020, inter alia, to

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Sensex, Nifty post biggest single-day gain; Rs 7.9 lakh crore added
Mumbai: Benchmark equity indices Sensex and Nifty rallied on Tuesday to post biggest point-wise gain ever, catching up with a two-day rally in world equities. Early indications that coronavirus cases may be easing in some of the worst affected areas of the world triggered risk-on trade.

However, market participants were of the view the rally may

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Trending stocks: Mphasis shares gain 2% in early session
NEW DELHI: Shares of Mphasis traded 1.91 per cent up in Tuesday 's trade at 10:08 am (IST).

Around 29501 shares changed hands on the counter. The stock opened at Rs 690.0 and touched an intraday high and low of Rs 697.7 and Rs 677.0 , respectively, in the session so far.

The stock quoted a 52-week high of Rs 1183.0 and a 52-week low of Rs 635.0

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