8 min read.Updated: 20 May 2020, 03:33 PM ISTIshita Guha
Nifty sectoral indices ended firm. Nifty Bank rose 2% in the last trading hour, while Nifty Auto and IT gained 2.1% and 0.5%, respectively. BSE Midcap and BSE SmallCap were up 1%-1.5%
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20 May 2020, 03:32:29 PM IST
Indian equity market rallied in the last trading hour of a volatile session, driven by heavyweight bank stocks--Kotak Mahindra Bank, HDFC Bank and Axis Bank. Stellar performance by Dr Reddy's Laboratories in the March quarter of fiscal 2020 also steered the bulls. Strong gains in financial services stocks, HDFC and Bajaj Finance, drove the indices higher.
While Sensex closed up 622.44 points, or 2.1%, at 30,818.61, Nifty 50 increased 187.45 points, or 2.1%, to 9,066.55.
Bharti Infratel, IndusInd Bank, Hero MotoCorp, Vedanta and Bharti Airtel, however, bucked the trend in broader market and ended in the red. Bharti Infratel lost nearly 7% today.
20 May 2020, 03:22:39 PM IST
Bull run for Nifty sectoral indices
20 May 2020, 03:15:49 PM IST
UltraTech Cements's Q4 profit rises three-fold
The cement maker reported a three-fold jump in its consolidated net profit to ₹3,243 crore in Q4FY20 against ₹1,064 crore in the same quarter last year. Normalised profit, which excluded the benefit of reversal of deferred tax liabilities due to change in tax regime, was at ₹1,131 crore, up 6.29%. The stock was at ₹3,528.20 on the BSE, up 2.6%.
20 May 2020, 03:11:52 PM IST
JSW Energy's Q4 profit soars 28-fold
The Sajjan Jindal-led company's consolidated net profit jumped 28-fold to ₹108.44 crore in the March quarter from ₹3.87 crore in the same period last year. The firm's revenue was down 6.8% at ₹1,793.4 crore in Q4FY20, against ₹1,924.6 crore a year ago. Shares of the company added 3.5% to ₹40.75 on the BSE.
20 May 2020, 02:18:44 PM IST
KKR top candidate for stake buy in JB Chemicals
American private equity giant, KKR & Co Inc has emerged as the front-runner to buy a 51% stake in Mumbai-based drugmaker company, JB Chemicals and Pharmaceuticals, which is known for manufacturing popular over-the-counter drugs such as Rantac and Metrogyl, according to a Mint report.
20 May 2020, 02:14:09 PM IST
Rupee closes weaker
The Indian rupee ended lower by 15 paise at 75.79 against the US dollar, compared to the previous close of 75.64.
20 May 2020, 02:11:53 PM IST
Gold price check
Gold firmed buoyed by rising demand for safe-haven investments, as the extent of damage from the coronavirus became more apparent following bleak data from major economies and optimism about a potential vaccine fizzled out. Spot gold was up 0.2% at $1,747.82 per ounce by 0808 GMT. US gold futures rose 0.4% to $1,752.40.
20 May 2020, 02:10:05 PM IST
Indices in Europe choppy
European stocks fluctuated as investors weighed conflicting signals on the outlook for markets. Treasuries and European bonds dipped. London's FTSE 100, France CAC and DAX index in Germany were flat-to-weak in early deals.
20 May 2020, 02:05:19 PM IST
Nifty Bank under pressure
20 May 2020, 02:04:49 PM IST
Cyient signs pact with Emergent Alliance
Cyient, the technology solutions company, announced that it has signed a statement of intent with Emergent Alliance to use the latter's combined data knowledge to provide new insights and practical applications to the global covid-19 response. The stock was at flat at ₹192.55 on the BSE.
20 May 2020, 01:44:53 PM IST
RIL Rights Entitlement price jumps 39% intraday
Reliance Industries-Rights Entitlement (RIL-RE) opened at ₹158.05 on the National Stock Exchange (NSE) today, a 4% premium of ₹151.9 over the previous closing price. Rights Entitlement share price is the difference between the previous closing price of RIL at ₹1,408.9 and the rights issue price of ₹1,257 per share.
20 May 2020, 01:40:09 PM IST
Dr Reddy's surges on robust Q4 earnings
Shares of Dr Reddy's Laboratories gained nearly 2% as its net profit jumped 76% to ₹764.2 crore during the March quarter, against ₹434.4 crore in the same period last fiscal. Revenue increased 10% year-on-year (YoY) to ₹4,432 crore in Q4FY20. Ebitda (earnings before interest, tax, depreciation and amortisation) was up 14% at ₹1,001 crore, against ₹882 crore a year ago.
20 May 2020, 01:30:12 PM IST
Tata Power adds 4.5%
Shares of Tata Power jumped 4.5% to ₹33.80 on the BSE after the company reported a two-fold year-on-year (YoY) rise in its January-March consolidated net profit to ₹475 crore. The net profit in the year-ago quarter was at ₹172 crore.
20 May 2020, 01:08:02 PM IST
L&T Infotech gains on strong Q4 show
The stock of Larsen & Toubro Infotech jumped 6.4% to ₹1,776.6 on the BSE as the company reported a net profit of ₹427.5 crore for the March quarter, up 12.9% year-on-year (YoY). Revenue in Q4FY20 was at ₹3,011.9 crore, up 21.2% YoY.
20 May 2020, 01:03:38 PM IST
Oracle Financial down nearly 4%
Shares of Oracle Financial Services slumped 3.9% to ₹2,325.0 on the BSE after the company said it will deduct tax at source (TDS) on the interim dividend payable to resident shareholders at the applicable revised rates. Other TDS rates and requirements specified will remain unchanged, the company said.
20 May 2020, 12:58:19 PM IST
Crude oil update
Oil prices were steady despite signs of improving demand and a drawdown in US crude inventories, as worries over the economic fallout from the coronavirus pandemic capped gains. Brent crude futures for July delivery were up 10 cents, or 0.3%, at $34.75 per barrel at 0626 GMT. The US West Texas Intermediate (WTI) crude futures for July were down 2 cents at $31.94 a barrel.
20 May 2020, 12:12:04 PM IST
Indian equities extended gains but continued to be volatile. The benchmark Sensex rose 208.34 points, or 0.7%, to 30,404.51, while Nifty 50 added 63.60 points, or 0.7%, to 8,942.70.
20 May 2020, 12:07:42 PM IST
Nifty Pharma up led by Lupin, Cipla
20 May 2020, 12:05:49 PM IST
Tata Steel allots NCDs
The steel major has approved the allotment of 10,000 unsecured and redeemable non-convertible debentures (NCDs) of face value of ₹10 lakh each, for cash amounting to ₹1,000 crore, on a private placement basis. The stock was at ₹279.55, up 2.8% on the BSE.
20 May 2020, 11:29:38 AM IST
Infosys partners with Rhode Island
The IT services provider announced that it will partner with the Rhode Island state government to launch a privacy-first contact tracing solution to help the state's people and officials slow the
spread of coronavirus. This is part of the state’s effort to reopen businesses, while reducing occurrences of community transmission.
20 May 2020, 11:10:07 AM IST
Investors cautious on Bajaj Finance
Shares of Bajaj Finance were up a marginal 0.8% at ₹1983.45 on the BSE as investors exercised caution after the company reported a 19.4%% year-on-year (YoY) decline in consolidated net profit to ₹948.1 crore for the March quarter owing to a covid-19 provision of ₹900 crore. Managing director (MD) Rajeev Jain told analysts that the firm has 27% of its loanbook under the three-month moratorium but has not allowed the deferment to customers with a high probability of default.
20 May 2020, 10:59:26 AM IST
Most BSE MidCap stocks up
20 May 2020, 10:58:02 AM IST
RIL jumps over 2% ahead of rights issue
Shares of Reliance Industries surged 2.1% to ₹1,437.05 as the Mukesh Ambani-led company, which is on a fund-raising spree amid the coronavirus pandemic, will open its massive ₹53,125-crore rights issue today. The rights issue, which closes for subscription on 3 June, will be the largest share sale in India.
20 May 2020, 10:28:48 AM IST
L&T among top Nifty performers
The stock of Larsen & Toubro gained about 3% to ₹818.85 on the BSE as the company said its board has recommended a final dividend of Rs15.5 per equity share of face value of Re 1.0 each, subject to approval of the shareholders, for the financial year 2020.
20 May 2020, 10:25:42 AM IST
Piramal Enterprises rises nearly 2%
Shares of Piramal Enterprises added 1.8% to ₹895.65 on the BSE as a Bloomberg report said Boston-based private equity firm, TA Associates, is in talks to buy about a 20% stake in Piramal Pharma Solutions for about $500 million. Piramal Group aims to reach an agreement by June, the report said.
20 May 2020, 10:21:43 AM IST
Nifty sectoral indices mixed
20 May 2020, 10:15:20 AM IST
Top Nifty gainers, losers
Larsen and Toubro surged more than 3% in early deals on Nifty 50, followed by ITC, Tata Steel, UPL and Cipla, while Bharti Infratel, IndusInd Bank, Adani Ports, Hero MotoCorp and Vedanta were the biggest laggards.
20 May 2020, 10:12:37 AM IST
Rupee opens higher
The Indian rupee opened higher at 75.57 against the US dollar, compared to the previous close of 75.64.
20 May 2020, 10:06:59 AM IST
Sensex view: Most shares rise
20 May 2020, 10:03:06 AM IST
Dr Reddy's gets US FDA approval
The pharmaceutical major said it has received Establishment Inspection Report (EIR) from the US Food and Drug Administration for its formulations manufacturing plant - 3 at Bachupally in Hyderabad. The EIR also indicates closure of audit at the plant. Shares of the company rose 1.4% to ₹3,752.20 on the BSE.
20 May 2020, 09:56:34 AM IST
Need quick execution of relief measures: India Ratings
Speedy implementation of the government measures aimed at providing relief to non-banking financial companies (NBFCs) and micro, small and medium enterprises (MSMEs) would be key, said rating agency India Ratings and Research (Ind-Ra).
20 May 2020, 09:31:48 AM IST
Indian equity market opened higher amid volatile trade. Caution among investors in Asia due to encumbering risks of coronavirus-led lockdowns to economies also supported the choppy start. The benchmark Sensex gained 26.52 points, or 0.09%, to 30,222.69. while the Nifty 50 index rose 6.15 points, or 0.07%, to 8,885.25.
20 May 2020, 09:15:56 AM IST
Stocks in Asia trade mixed
Major stock markets in Asian traded mixed amid caution due to a report by Stat News, which said Moderna Inc's claim to have found a potential vaccine to treat coronavirus is not substantial, triggering concerns that a solution to the pandemic may be a long way off. While Japan's Nikkei 225 rose nearly 1% and South Korea's Kospi gained 0.2%, Hong Kong and China slipped 0.2% and 0.4%, respectively.
20 May 2020, 09:03:47 AM IST
Stocks to watch today
Reliance Industries, Larsen & Toubro, Bajaj Finance, Bajaj Auto, Dr Reddy's Laboratories, Piramal Enterprises, Future Consumer, Finolex Industries, L&T Infotech, JSW Energy and Jubilant Foodworks are likely to be in focus today.
20 May 2020, 08:54:49 AM IST
Oil snaps four-day winning streak
Crude oil steadied after a four-day gain as investors weighed signs the market is rebalancing against what’s still a precarious economic outlook. Futures in New York for July delivery were little changed near $32 a barrel after the June contract closed at a 10-week high as it expired. The US Federal Reserve Chairman Jerome Powell warned Americans could start losing their homes and that long-term unemployment could damage the economy.
20 May 2020, 08:47:03 AM IST
Dow Jows falls 1.6%, S&P 500 1.1%
The Dow Jones Industrial Average finished down 1.6% at 24,206.86, pulling back from the 3.9% surge Monday. The broad-based S&P 500 dropped 1.1% to 2,922.94, while the tech-rich Nasdaq Composite Index shed 0.5% to 9,185.10.
20 May 2020, 08:32:47 AM IST
US stocks slump on worries of recession
Wall Street stocks ended lower Tuesday as top US economic officials warned the world's largest economy faces continued risks, causing the market to pare gains from Monday's rally. The market fell following an article in Stat News, which focuses on health and medicine, expressing skepticism over Monday's announcement by Moderna Inc about favourable results on a phase 1 test for a coronavirus vaccine. Moderna's announcement, which spurred Monday's surge, "revealed very little information" and no data about the vaccine, the Stat News report said.