Sensex and Nifty ended lower on Monday, dragged by declines in energy stocks
Sensex and Nifty ended lower on Monday, dragged by declines in energy stocks

Sensex falls by 241 points ahead of inflation data

  • Most Asian markets are subdued today
  • Investors are looking ahead to new round of US-China trade talks

Indian markets struggled in noon trade, with IT stocks under pressure. The Sensex was down by 241.41 points while Nifty by 57.40 points. The NSE IT index was down about 1% with Infosys and HCL Tech down over 1% and TCS off 0.50%. The government will later in the day announce consumer inflation and industrial production data.

12 Feb 2019, 03:33:51 PM IST

Karur Vysya Bank Q3 profit dives 70 pc as bad loans mount  

Karur Vysya Bank Tuesday said the gone by December quarter saw a decline of over 70 per cent in net profit to 21.20 crore as bad loans spiked.

The private sector lender had clocked a profit of 71.49 crore in October-December 2017-18.

Total income went up at 1,702.65 crore in the latest quarter as against 1,647.17 crore in the same period of 2017-18, the bank said in a regulatory filing.

Gross bad loans spiked to 8.49 per cent of gross advances as at December-end 2018 from 5.94 per cent by December 2017.

In terms of value, gross non-performing assets (NPAs) or bad loans stood at 4,055.73 crore, higher than 2,663.32 crore a year ago.

Net NPAs too rose to 4.99 per cent ( 2,295.60 crore) from 3.88 per cent ( 1,698.92 crore).

Provision coverage ratio was at 56.09 per cent as at December-end 2018, Karur Vysya Bank said.

Stock of the bank was trading 4.40 per cent down at 81.50 on BSE.

12 Feb 2019, 03:00:34 PM IST

Hindalco third-quarter profit plunges on higher input costs  

Aluminium producer Hindalco Industries Ltd posted a 34.4 percent drop in third-quarter profit on Tuesday, hurt by increase in input costs, mainly of coal and furnace oil.

Standalone net profit after tax was 2.47 billion rupees ($34.87 million)in the quarter ended Dec.31, compared with 3.77 billion rupees a year ago, the Mumbai-headquartered company said.

The profit figure lagged analysts' estimate of a profit of 4.07 billion rupees, according to Refinitiv Eikon data.

12 Feb 2019, 02:56:58 PM IST

Hotel Leelaventure Q3 profit up 8%

Hotel Leelaventure Tuesday reported 8.58 per cent rise in standalone net profit at 44.14 crore for the third quarter ended December 31, 2018.

The company had logged a profit of 40.65 crore in the year-ago period, Hotel Leelaventure said in a filing to BSE.

Revenue from operations stood at 209.06 crore in the latest quarter as against 203.61 crore in October-December 2017, it said.

Shares of Hotel Leelaventure were trading at 13.67 per scrip on BSE, up 5.07 per cent from the previous close.

12 Feb 2019, 01:32:05 PM IST

Buzzing stock: Can Fin Homes shares jump over 10%

Shares of Can Fin Homes jumped over 10% in afternoon trade, rising to 266.75

12 Feb 2019, 12:43:06 PM IST

Rupee extends gains, up for sixth day

The rupee strengthened further today, rising to 70.90 against the US dollar. In past five days, rupee had risen a combined 62 paise against the US dollar.

12 Feb 2019, 12:32:30 PM IST

Buzzing stock: JSPL surges over 9%

Shares of JSPL were in focus today with prices rising nearly 9.5% to 140.70 in noon trade. 

12 Feb 2019, 12:20:42 PM IST

Airline stocks underperform amid rise in crude oil price

Airline stocks were under pressure today after oil prices rose amid OPEC-led supply cuts and US sanctions against Iran and Venezuela, although analysts expect surging US production and concerns over economic growth to keep markets in check. International Brent crude futures were up 50 cents, or 0.8%, at $62.01 per barrel. Jet Airways shares were down 3%, SpiceJet 2.6% and InterGlobe Aviation 0.40%. 

12 Feb 2019, 11:36:41 AM IST

HEG, Graphite India shares under pressure

Shares of HEG were down 7% at 2,048 while Graphite India declined 8% to 400 in noon trade. HEG is scheduled to announce its earnings today

12 Feb 2019, 11:30:46 AM IST

Reliance General Insurance files for IPO

Reliance General Insurance has filed for an initial public offering (IPO) consisting of a fresh issue of shares worth up to 200 crore, parent Reliance Capital said today. The IPO will also include an offer by Reliance Capital to sell up to 79.5 million shares, Reliance Capital said.

12 Feb 2019, 11:01:43 AM IST

IGL,  Mahanagar Gas stocks under pressure

City gas distribution stocks IGL and Mahanagar Gas were under pressure today with IGL falling 5% and Mahanagar Gas down 4%.

12 Feb 2019, 10:04:52 AM IST

Nifty has support at 10,850, says Sameet Chavan of Angel Broking

Mr Chavan says that Nifty has managed to defend the mentioned key support zone of 10,850–10,900 and going ahead, a move beyond 10,930 levels would bring back some positivity in the market. On the flipside, he says, 10,850 remain a strong support. 

12 Feb 2019, 09:56:00 AM IST

Eicher Motors shares in focus

Eicher Motors announced December quarter earnings during market hours on Monday. The stock is trading nearly 1% higher today. For the first time in nearly three years, Eicher Motors Ltd’s Ebitda (earnings before interest, tax, depreciation and amortization) margin veered off the 30% mark. In the December quarter, its consolidated Ebitda margin fell 220 basis points to 29%, and short of the average estimate of 30% on the Street. (Read: Royal Enfield drags Eicher Motor profits)

12 Feb 2019, 09:16:20 AM IST

Rupee inches higher against US dollar

The Indian rupee today strengthened against the US dollar as traders await key macroeconomic data due after 5.30 pm. The rupee was trading at 71.12 a dollar, up 0.07% from its previous close of 71.17. The currency opened at 71.16 a dollar.

12 Feb 2019, 08:48:04 AM IST

Axis Bank shares in focus today

 The government plans to sell a stake of up to 3% in Axis Bank in an offer that could raise up to 5,316 crore. The government holds a 9.56% stake in the private sector lender through state-owned Specified Undertaking of the Unit Trust Of India (SUUTI). The government will up to 5.08 crore, or a 1.98% holding, to non-retail investors on February 12, SUUTI said in a filing to the stock exchanges.

12 Feb 2019, 08:45:02 AM IST

Asian markets subdued today, focus on US-China trade talks

Asian shares were subdued today with investors looking forward to a new round of China-US trade talks as the world's two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings. MSCI's broadest index of Asia-Pacific shares outside Japan was unchanged in early trade. US and Chinese officials expressed hopes on Monday that a new round of talks would bring them closer to easing their months-long trade war.