MARKET LIVE: Sensex at day's high, up 200 pts; M&M, Bajaj Auto top gainers

 A broker monitors share prices while trading at a brokerage firm in Mumbai. (File photo: Reuters)

The Indian markets moved higher in Wednesday's noon deals after spending majority of the session range-bound.

The S&P BSE Sensex gained 200 points at 39,250 levels and the Nifty50 index was surpassed the 11,550-mark. Mahindra & Mahindra (up 5%) was the top Sensex gainer, followed by Bajaj Auto (up 3%). Besides, HDFC Bank, Sun Pharma, and Reliance Industries also climbed 1 per cent each..

Aurobindo Pharma shot up 4 per cent after the company announced its collaboration with Council of Scientific and Industrial Research to develop vaccines to protect against Covid-19.

The trend among Nifty sectoral indices was largely positive, led by Nifty Auto index, up 2 per cent.

In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 0.2 per cent higher, each.

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02:21 PM 

P&G Health declines 6% on profit booking post June quarter results

Shares of Procter & Gamble (P&G) Health slipped 6 per cent to Rs 5,330 on the BSE in the intra-day trade on Wednesday on profit booking. The company reported 10.8 per cent year on year (YoY) growth in net profit at Rs 48.90 crore for June quarter. READ MORE

02:15 PM 

NEWS ALERT :: Russia based-RDIF likely to supply 10 cr Covid-19 vaccine doses to India, reports Reuters

02:09 PM 

Rupee closing

Rupee ends higher at 73.52/$ vs Tuesday's close of 73.65 against the US dollar

02:07 PM 

Recovery from intra-day lows in today's session

COMPANY DAY'S LOW(RS) DAY'S HIGH(RS) LATEST(RS) RISE(%)

RADICO KHAITAN 409.00 467.00 461.25 12.78

INDOSTAR CAPITAL 260.55 292.50 285.00 9.38

I T D C 233.30 256.45 253.75 8.77

TVS MOTOR CO. 431.00 471.70 467.25 8.41Click here for the full list

02:04 PM 

MARKET CHECK:: Top 5 gainers on the BSE at this hour

01:49 PM 

MARKET UPDATE:: Sensex at day's high

01:47 PM 

BROKERAGE VIEW:: Prabhudas Lilladher on PVR

Rating: ACCUMULATE | TP: Rs 1,435

We continue to maintain our positive stance on the multiplex space and retain our ACCUMULATE rating on PVR by raising our target EV/EBITDA multiple to 12x (earlier 10x; LPA is 12x) as 1) recent rights issue of Rs3bn evades near term liquidity concerns and 2) reduction in fixed opex burn to Rs220-250mn per month indicates that cash drain will be lower till the time multiplexes are shut. Further, Tenet’s collection of US$200mn so far and PVR Lanka’s SPH/ATP ratio of 60% odd does not indicate any structural behavioral changes in content or F&B consumption pattern, reducing the skepticism on valuation. Maintain ACCUMULATE, with a revised TP of Rs 1,435. 

01:33 PM 

More concerned for depositors, financial stability than borrowers: RBI Guv

“The primary concern in the banking system is the protection of depositors’ money. Ultimately, it is the depositors’ money that is being lent out,” governor Das said in an interaction with the governing council of the industry lobby group Federation of Indian Chambers of Commerce & Industry (FICCI). READ MORE

01:23 PM 

European indices open mixed

01:23 PM 

Aug Aviation Data :: Domestic air traffic down 76% YoY at 2.8 mn

>> Improves from 2.1 passengers in July

>> PLF stands at: SpiceJet (76%), Vistara (68.3%), IndiGo (65.5%), AirAsia (64.4%), GoAir (61%), AI (58.6%)

>> Market share: IndiGo (59.4%), SpiceJet (13.8%), AI (9.8%), Vistara (5%), GoAir (4.7%)