Sensex ends 246 pts higher; Vedanta, Infosys up 4%

FILE PHOTO - Bombay Stock Exchange   -  BL

Closing Bell

Domestic equity benchmark indices ended higher by 246 points in a day marked with big volatility. Equities moved back and forth on the back alternative buying and selling in equities.

The BSE Sensex jumped 450 points to 38,345.41 in the opening session taking cues from stronger global markets, and fell to a low of 37,737.85 during the day. It ended at 38,127.08, up 246.68 points, or 0.65 per cent, over yesterday's close.

At the BSE, it was interesting to note that the number of declining scrips were higher at 1,360 against the advancers at 1,107.

Similarly, the Nifty, on the NSE, after opening at 11,257.70, travelled between a high of 11,362.90 and a low of 11,189.40. It ended at 11,301.25, up by 66.70 points, or 0.60% over its previous close.

Sectors such as  IT, healthcare, metal, auto, realty, and pharma gaining up to 1.50 per cent gave enough strength to overall markets.

Major gainers include Tata Motors, Cipla, ONGC, Infosys and Ultracemco that gained up to 4.50 per cent.

Top laggards were YES Bank, M&M, Reliance, TCS, HeroMoto Corp that fell up to 3.50%.

 

TCS down on muted quarterly growth

Shares of TCS slipped today after the IT services firm reported muted econd-quarter profit growth. Macroeconomic issues and a slowdown in the banking sector in the US and Europe, along with delays in retail sector deal executions, slowed down TCS’ second-quarter profit growth to a mere 1.8 per cent.

 

IndusInd Bank slips on profit taking

Shares of IndusInd Bank lost nearly 2.50% intraday despite the bank reported 50 per cent increase in its net profit in the second quarter of the fiscal with steady growth in income. However, it regained some of the lost ground and ended at Rs 1,223.25, down 0.45%, on the BSE

IndusInd Bank posted a net profit of ₹1,383.37 crore for the July to September quarter this fiscal, which was a 50.3 per cent increase from ₹920.25 crore in the same period a year ago.  However, the bank’s asset quality weakened.

 

Welspun India gains on positive outlook

Shares of Welspun India rose nearly 0. 50 per cent to Rs 50 on the BSE today on positive outlook. The Hindu BusinessLine reported that the company,  one of the largest suppliers of home textiles globally to retailers like Walmart, Costco and others, is looking to be debt-free over the next five years.

As per its latest annual report, Welspun India’s net debt stands at ₹3,028 crore. It has short term loans of ₹1,408 crore and long term debts of ₹1,902 crore.

 

3.25 pm

 

3.20 pm

Vedanta shares up over 4% eyeing quarterly results

Shares of Vedanta climbed 4 per cent on the BSE today on expectations that the company would show good results for the second quarter. Volumes traded in the counter were 7.75 lakh shares as at 3.15 pm, today.

 

 

3.15 pm

 

3.10 pm

NIFTY AUTO INDEX

 

3 pm

 

 

2.35 pm

Upper circuit shares on BSE

 

 

2.30 pm

Auto sales continue to be on slow track in September: report

 

The automobile sales during the month of September saw a few positive trends owing to festive season offers, but still, they continue to fall on a yearly basis.

READ MORE

What BS-6 means for auto buyers

The automotive industry, which has been reeling under the impact of a host of adverse factors and one of the worst slowdowns ever, is set to ...

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Auto sector slowdown, widespread rainfall in Aug impacted GST mop-up, says Centre

The Centre has blamed the cyclical slowdown in sectors such as automobile and widespread rainfall during August for the low Goods and Services Tax ...

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2.20 pm

Moody’s cuts India GDP growth forecast to 5.8%

 

International rating agency Moody's on Thursday announced the lowering of India's Gross Domestic Products (GDP) growth to 5.8 per cent. This is lowest projection after the Reserve Bank of India cut the GDP growth to 6.1 per cent earlier this month.

READ MORE

Auto sales continue to be on slow track in September: report

According to the latest report by SIAM, all the categories reported decline in sales.

Read More  

2.15 pm

IndusInd Bank Q2 net up 50%

 

Private sector lender IndusInd Bank ’s net profit jumped by more than 50 per cent in the second quarter of the fiscal with steady growth in interest income. However, the bank’s asset quality weakened.

READ MORE

 

Why has IndusInd Bank fallen despite stable Q2 earnings?

BL Research BureauA weak operating environment, increasing concerns over corporate defaults, and worsening credit risk situation has been dampening ...

Read More  

 

2.10 pm

 

Stock Watch

 

2.05 pm

 

2 pm

Bandhan Bank shares surge 15%

 

Shares of Bandhan Bank soared nearly 15% today on the BSE as the microfinance company on expectations of better results as reported for the June quarter.

During the June quarter this year, Bandhan Bank posted over 45 per cent growth in net profit at ₹701 crore for the quarter ended June 30, 2019 against ₹482 crore same period last year.

 

Bandhan Bank rides on micro loans; posts 45% jump in profit at ₹701 cr

 Riding on the back of a higher net interest income and a good growth in its microcredit portfolio, Bandhan Bank posted over 45 per cent growth in net ...

Read More

Bandhan Bank Q4 net up 68%

Lender likely to go in for OFS to reduce promoter stake: CEO

Read More  

 

1.55 pm

BMA Wealth Creators misappropriate Rs 100-crore worth client shares: NSE

 

SEBI has banned BRH Wealth Kreators (formerly BMA Wealth Creators) and its promoters from the stock market following the National Stock Exchange investigation found that missappropriation of Rs 100 crore from client accounts by the broking firm.

READ MORE

1.50 pm

Welspun India rises 1% on hopes to become debt-free in 5 years

 

Shares of Welspun India rose nearly 1 per cent to Rs 50.05 on the NSE today. The Hindu BusinessLine reported that the company,  one of the largest suppliers of home textiles globally to retailers like Walmart, Costco and others, is looking to be debt-free over the next five years.

As per its latest annual report, Welspun India’s net debt stands at ₹3,028 crore. It has short term loans of ₹1,408 crore and long term debts of ₹1,902 crore

Welspun India expects to be debt-free in five years

Welspun India, one of the largest suppliers of home textiles globally to retailers like Walmart, Costco and others, is looking to be debt-free over ...

Read More

Welspun India eyes home textiles in India

Ropes in actor Amitabh Bacchhan as brand ambassador

Read More  

 

1.40 pm

Indiabulls Ventures to buy back shares worth up to Rs 1,000 cr

The board of directors of Indiabulls Ventures on Friday approved a proposal to buy back shares worth up to Rs 1,000 crore.

READ MORE

 

 

1.35 pm

Tata Motors rally 2 per cent

Tata Motors stock rose today on the back of fresh buying by investors. It gained 2 per cent to Rs 119 on the BSE.

The company launched in association with digital agency WATConsult, the digital and social media agency from Dentsu Aegis Network, #LanguageOfHumanity aims to create awareness on the importance of considering sign language and stimulate the feeling of inclusivity.

HinduBusinessline reported that the company decided to vocalise its call to action for its brand Harrier, positioned as #AboveAll.

The idea was to spread awareness about the adoption of sign language as a means of communication and encourage equality.

 

1.25 pm

 

 

12.45 pm

Why TCS missed Q2 targets

 

Tata Consultancy Services (TCS) reported weaker than expected Q2FY20 on both revenues and margins. The increasing complexity of deals, the impact of e-commerce on IT spends by traditional retail players in the US and higher costs related to hiring locally are weighing on the IT company, according to analysts.

READ MORE

 

TCS may miss double-digit growth target this fiscal

Q2 profit growth slows down to 1.8%

Read More  

TCS may miss double-digit growth target this fiscal

Q2 profit growth slows down to 1.8%

Read More S may miss double-digit growth target this fiscal 

 

12.40 pm

India-China informal summit: PM Narendra Modi arrives in Chennai

Prime Minister Narendra Modi arrived in Chennai to attend the second informal summit with Chinese President Xi Jinping. The event will take place in Mamalllapuram on Friday and Saturday.

READ MORE

 

12.35 pm

 

12.30 pm

What to watch: Arvind SmartSpaces ties up with HDFC arm

Arvind SmartSpaces has entered into a strategic partnership with HDFC Capital Affordable Real Estate Fund 1 — a fund managed by HDFC Capital Advisors, a wholly-owned subsidiary of HDFC.

READ MORE

 

12.15 pm

Tata Motors reinvents marketing strategies to woo car buyers

It was a little over a fortnight ago when Tata Motors tuned into ‘The International Day of Sign Language’ on September 23. The idea was to spread awareness about the adoption of sign language as a means of communication and encourage equality.

READ MORE

Tata Motors launches Tigor EV with extended range

Tata Motors on Wednesday launched Tigor EV with an extended range to cater to both fleet and personal segment customers with price starting at Rs 9.44 ...

Read More

Broker's call: Tata Motors (Neutral)

Motilal OswalTata Motors (Neutral)CMP: ₹127.95Target: ₹146Tata Motors FY19 annual report analysis highlighted a weak operating performance. EBITDA ...

Read More  

12.10 pm

 

 

11.55 am

 

11.50 am

Default claims against brokers set to rise

 

Default claims worth several crores are piling up against brokers as they are finding it increasingly difficult to cope with the volatility in the market. Fairwealth Securities and Kolkata-based equity broker BMA Wealth are two examples,

READ MORE

The market leader Zerodha has no minimum brokerage fee per trade but a flat 0.01 percent or ₹20 per order whichever is lower. It also charges zero brokerage on delivery.

 

11.45 am

Company news: Bharat Heavy Electricals

Amid stiff international competitive bidding (ICB), Bharat Heavy Electricals Ltd has bagged an order for the turbine generator and associated packages

READ MORE

 

11.35 am

Broker's call: Oberoi Realty (Buy)

iCICI Securities

Oberoi Realty (Buy)

CMP: ₹494.35

Target: ₹577

After a lull in launch activity in H1FY20, Oberoi Realty has a number of launches lined up to coincide with the festive season in Q3FY20. Oberoi Realty has recently launched its Maxima tower at its JVLR, Andheri project (180 units priced between ₹3.5-4 crore) in the first week of October 2019

READ MORE

Oberoi Realty: On favourable ground

Strong market presence and healthy prospects are positives for the company

Read More  

11.30 am

What to watch: Infosys, Bajaj Consumer, ITI, Den results in focus

The respective boards of Bajaj Consumer Care, Den Networks, Infomedia Press, Infosys and ITI will meet on Friday to approve the financial results for the quarter ended September 30, 2019

READ MORE

 

11.20 am

What to watch: Century Textiles to turn ex-date for de-merger

The shares of Century Textiles & Industries will turn ex-date on Friday for the proposed de-merger. The company will hive off its cement division and merge it with UltraTech Cement.

READ MORE

Trading Call: Century Textiles & Industries (₹915): Buy

The stock of Century Textiles & Industries jumped 6 per cent accompanied by above average volume on Wednesday, decisively breaking above the key ...

Read More

 

11.15 am

 

11.10 am

IndusInd Bank stock sheds 2.35% on profit taking

 

Shares of IndusInd Bank lost nearly 2.50% today despite the bank reported 50 per cent increase in its net profit in the second quarter of the fiscal with steady growth in incoem.

IndusInd Bank posted a net profit of ₹1,383.37 crore for the July to September quarter this fiscal, which was a 50.3 per cent increase from ₹920.25 crore in the same period a year ago.  However, the bank’s asset quality weakened.

Why has IndusInd Bank fallen despite stable Q2 earnings?

BL Research BureauA weak operating environment, increasing concerns over corporate defaults, and worsening credit risk situation has been dampening ...

Read More  

10.50 am

 

 

10.45 am

 

10.40 am

LVB: Will it rise from the ashes like Dhanlaxmi Bank or go the GTB way?

 

Now that the Reserve Bank of India has rejected the proposal for the voluntary amalgamation of Indiabulls Housing Finance Ltd and its 100 per cent subsidiary, Indiabulls Commercial Credit Ltd, with Lakshmi Vilas Bank (LVB), the moot question is whether the latter will be able to rise like a phoenix like Dhanlaxmi Bank did, or meet Global Trust Bank's fate.

READ MORE

RBI shoots down Indiabulls-LVB merger

The RBI on Wednesday rejected the proposed amalgamation of lndiabulls Housing Finance Ltd and lndiabulls Commercial Credit Ltd with Lakshmi Vilas Bank ...

Read More  

10.35 am

 

10.30 am

Rules for input tax credit tweaked

 

In an effort to curb the menace of fake invoices and boost cash flow, the government has limited the input tax credit (ITC) to be availed by Goods and Services Tax (GST) assessees, in case the details have not been uploaded by the supplier.

READ MORE

 

 

10.25 am

FM to ask RBI to ease withdrawal norms for PMC Bank depositors

Finance Minister Nirmala Sitharaman said on Thursday that she will speak to the Reserve Bank of India Governor Shaktikanta Das and convey the distress of depositors of Punjab and Maharashtra Cooperative Bank. The Finance Minister will request Das to consider expediting the withdrawal of funds by despositors. She also promised legislative changes, if required.

READ MORE

 

10.10 am

Moody’s cuts India GDP growth forecast to 5.8%

Slowdown concerns have pushed two agencies, Moody’s and India Ratings, to lower India’s growth projection sharply for the current year.

READ MORE

India is nowhere near 8% GDP growth rate: Anantha Nageswaran

“Indian economy may bottom out from the second quarter of the current fiscal which has just ended but it is nowhere close to the 7-8 per cent growth ...

Read More  

RBI policy: Highest cumulative repo rate cut in 10 years

The repo rate was cut by 135bps so far in CY19. The last time the repo rate saw such a large cumulative cut in a year, was in 2009.

Read More

At ₹92,000 crore, GST mop-up in September dives to a 19-month low

But analysts expect collections to pick up during festival season

Read More  

10.05 am

IRCTC IPO: How to check your allotment status

Are you one of the anxious IRCTC public issue investors awaiting your allotment status?

Then you can check your position in ipo.alankit.com using your PAN and application number details.

READ MORE

IRCTC IPO allotment: What are your chances?

Allotment in the retail category is likely to be done through a lucky draw. There is a 12 per cent probability of one lot getting allotted to you

Read More  

10 am

Domestic equity benchmark BSE Sensex jumped 450 points and the Nifty rose over 100 points in the first one-hour trading on Friday, driven by gains in banking, metal, auto stocks and financial services, amid positive global cues.

Asian shares and U.S. stock futures rose after U.S. President Donald Trump said he would meet with China's top trade negotiator.

Analysts say that today's rally was to be seen after sharp fall yesterday.

Investors are selective in their approach to buying stocks as the credit rating agencies Moody's and India Rating has lowered the GDP growth to 5.8%.

The BSE benchmark Sensex was quoted higher by 431.70 points at 38,312.10

Similarly, the Nifty, on the NSE, was up 110.40 pointa t 11,344.95

TCS shares dive nearly 3 per cent

Shares of TCS slipped today after the IT services firm reported muted econd-quarter profit growth. Macroeconomic issues and a slowdown in the banking sector in the US and Europe, along with delays in retail sector deal executions, slowed down TCS’ second-quarter profit growth to a mere 1.8 per cent.

TCS stock declined 2.76% to Rs 1,949.20 on the NSE today.

 

 

9.40 am

TCS shares dive nearly 3 per cent

 

Shares of TCS slipped today after the IT services firm reported muted econd-quarter profit growth. Macroeconomic issues and a slowdown in the banking sector in the US and Europe, along with delays in retail sector deal executions, slowed down TCS’ second-quarter profit growth to a mere 1.8 per cent.

TCS stock declined 2.76% to Rs 1,949.20 on the NSE today.

TCS reported consolidated net profit at ₹8,042 crore for the quarter ended September 30, against ₹7,901 crore in the year-ago period. Sequentially, the profit dipped 1 per cent. TCS’ operating margins for the quarter stood at 24 per cent, while net margins came in at 20.6 per cent.

TCS may miss double-digit growth target this fiscal

Q2 profit growth slows down to 1.8%

Read More

 

9.35 am

 

NSE SECTORAL INDICES

 

9.30 am

 

 

9.25 am

 

 

9.20 am

Day Trading Guide for October 11, 2019

supports and resistances for Nifty 50 futures and seven key stocks such as HDFC BANK, INFOSYS, ITC, ONGC, RELIANCE, SBI and Nifty futures that can help in your intra-day trading

Read for technical analysis for these stocks

 

9.15 am

Asian shares rise after ‘very good’ US-China trade talks boost risk appetite

Asian shares and US (US) stock futures rose on Friday after US President Donald Trump said he would meet with China's top trade negotiator.

However, the sterling retreated after rallying on revived hopes of a possible Brexit deal.

READ MORE

 

 

9.10 am

Biocon (₹240.2)

Investors with a short-term perspective can buy the stock of Biocon at current levels. Following an intermediate-term downtrend, the stock found support...

READ MORE

 

 

 

9.05 am

 

 

Published on October 11, 2019