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Business News/ Markets / Live Blog/ Sensex falls over 150 points, Maruti Suzuki shares slump

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Sensex up 200 points, ICICI Bank shares down for 7th straight session

2 min read . Updated: 25 Jan 2019, 04:00 PM IST

Staff Writer

Maruti Suzuki shares drop over 8%
Hero MotoCorp, ICICI Bank and M&M were among other top losers

Sensex was down around 60 points in afternoon trade

Indian markets gave up a good start to end lower despite firm global markets. Weak earnings and caution ahead of interim budget next week hurt the investor sentiment. Sensex ended 169 points lower at 36,025, off over 400 points from its day's high of 36,474. Another benchmark index Nifty50 fell 0.65% to 10,780. Among the Sensex stocks, Maruti fell over 8%, dragged down by lower-than-expected earnings. Hero MotoCorp, M&M, ICICI Bank, Asian Paints, Tata Steel, Bajaj Auto and Coal India were among other top losers. Among the gainers, HCL Tech, Yes Bank, Bharti Airtel, TCS, Vedanta rose between 1% and 3%.

25 Jan 2019, 04:00:02 PM IST

Natco Pharma ventures into agro-chem space

Natco Pharma Limited today said it is foraying into agrichemical space and initiated work on it green-field manufacturing facilities for producing niche products in that area in Nellore District of Andhra Pradesh. Natco expects the facilities in to be commissioned by the end of 2019 with a total capital expenditure of ₹100 crore. Natco Pharma shares today ended 1.2% lower at ₹671.95.

25 Jan 2019, 03:48:33 PM IST

Indian Bank Q3 profit halves, shares slump

State-owned Indian Bank profit halved to ₹152.26 crore for the third quarter ended December 2018, on account of rising provisions for bad loans. The bank had registered a net profit of ₹303.06 crore in the corresponding October-December period of previous fiscal. Shares ended 7% lower at ₹237.

25 Jan 2019, 02:44:09 PM IST

Maruti Suzuki shares slump on earnings

Maruti Suzuki India posted a lower-than-expected profit for the third quarter, sending its shares down 8%. The bleak results come a month after Maruti Suzuki cautioned it would struggle to meet a double-digit sales growth for the year and flagged an increase in car prices to pass amid additional raw material costs. Sales by Indian automakers have declined in the past few months, due to higher commodity prices, a depreciating rupee and weak demand. Profit fell 17.2% to ₹1,489 crore.

25 Jan 2019, 12:57:05 PM IST

ICICI Bank shares down for seventh straight session

ICICI Bank shares were down 1.2% in afternoon trade, down for its seventh straight session. The CBI on Thursday booked former ICICI Bank Ltd chief executive Chanda Kochhar, her husband Deepak Kochhar and Videocon group managing director Venugopal Dhoot for criminal conspiracy and cheating.

25 Jan 2019, 11:54:27 AM IST

Yes Bank, Bharti Airtel, HCL Tech among top gainers

Among the Sensex pack, Yes Bank was the top gainer, rising 6.5% while Bharti Airtel rose 2.6%. HCL Tech, Tata Motors, Sun Pharma, TCS, ITC and Kotak Bank were up between 1% and 1.5%.

25 Jan 2019, 11:30:10 AM IST

Edelweiss Research revises target prices higher on Colgate Palmolive

Edelweiss Research has revised target price of Colgate Palmolive higher to ₹1,416 ( ₹1,206 earlier) while maintaining Hold. Colgate-Palmolive (India) Ltd shares currently trading 1.2% lower at ₹1,306. In a note Edelweiss said: “Colgate Palmolive’s (Colgate) Q3FY19 YoY revenue and EBITDA growth of 6.4% and 11.3%, respectively, came in line with our estimates. However, PAT growth of 12.6% YoY surpassed our expectation. We maintain that Colgate’s market share loss has largely bottomed out, but improvement is likely to be gradual." (Read: Colgate-Palmolive’s Q3 keeps investors smiling)

25 Jan 2019, 09:36:59 AM IST

Linde India shares drop 20%

Linde India shares drop 20% to ₹569 after its promoters rejected its delisting after discovering the company was worth nearly thrice its market capitalisation.

25 Jan 2019, 09:38:30 AM IST

Yes Bank shares surge 9%

Yes Bank shares today rose 9% to ₹230, extending gains after it announced that Deutsche Bank’s chief of India operations Ravneet Gill would be the new boss. Yes Bank had made this announcement during market hours on Thursday and the stock had surged nearly 10%. (Read: Yes Bank stock now gets its Gill to breathe in troubled waters)

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