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Sensex closes 355 pts lower, Nifty at 15,632; FMCG gains; realty top drag

Market closing: Indian indices closed lower on Tuesday..Premium
Market closing: Indian indices closed lower on Tuesday..

  • Market closing: The Sensex closed at 52,198.51, down 354.89 points, or 0.68%, while Nifty was at 15,632.10, down 120.30 points or 0.76%. Banks, financials, auto, and metals closed in red

Indian markets closed over 0.68% lower on Tuesday, as HDFC twins continued to cast their shadow on the indices. Bajaj Finance reported Q1 consolidated net profit of 10 billion compared to 9.62 billion a year ago. The Centre has sought the Parliament's nod for 23,674.81 crore additional spending. Broader Asian markets were mixed at close.

20 Jul 2021, 03:50:11 PM IST

Rupee gains 27 paise to close at 74.61 (provisional) against US dollar

20 Jul 2021, 03:46:03 PM IST

Market closing

The Sensex closed at 52,198.51, down 354.89 points, or 0.68%, while Nifty was at 15,632.10, down 120.30 points or 0.76%. On the 30-share Sensex, Asian Paints, Ultratech, Bajaj Auto, and six other stocks closed in green, while IndusInd, Tata Steel, NTPC, and 18 other stocks closed in red.

Sensex at close
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Sensex at close
20 Jul 2021, 03:32:33 PM IST

Bajaj Finance reports Q1 consolidated net profit of $10 bn

Bajaj Finance reported consolidated Q1 net profit of 10 billion compared to 9.62 billion a year ago. The company’s gross NPAs were down 2.96% compared to 1.79% a year ago, while net NPAs were at 1.46% compared to 0.75% in the previous quarter.

20 Jul 2021, 03:30:07 PM IST

NTPC wins 450 MW solar project auctions in MP

NTPC has won the auction of 450 MW of solar projects in MP, according to media reports.

20 Jul 2021, 03:28:14 PM IST

Jubilant Ingrevia commentary: Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd

"Jubilant Ingrevia Ltd (JIL) 1QFY2022 results outperformed the estimates. The top-line grew by 55% year-on-year (y-o-y) to 1,145 crore on the back of robust growth in volume and prices. On segment wise, Speciality Chemicals revenue grew by 18% y-o-y, Nutrition and Health Solutions revenue grew by 13% y-o-y and Life Sciences Chemical revenue grew by 103% y-o-y. On the Ebitda front, the company has reported 287 crore, grew by 126% on account of strong performance of Speciality Chemical & Life Sciences chemical segment led by favorable market conditions. JIL reported EBITDA margin improvement (up by 783bp y-o-y to 25.1%). The reported net profit grew by 220% y-o-y to 168 crore, on account of strong sales growth and operating performance. Currently we are positive on the stock."

20 Jul 2021, 03:24:35 PM IST

Oil rises after slide but covid-19, supply concerns persist

Oil edged up to about $69 a barrel on Tuesday after the previous session's 7% slide, as a tight physical market offset some concerns about the impact on demand from rising COVID-19 infections and higher OPEC+ supply. In a sign of tight supply, crude inventories in the United States are expected to fall for a ninth week. OPEC expects world oil demand to grow by 6.6% in 2021 with the expansion focused on the second half of the year.

20 Jul 2021, 03:19:06 PM IST

Wipro sells stake in cyberthreat intelligence firm

IT services major Wipro on Tuesday said it has sold its entire stake in IntSights, a cyberthreat intelligence service provider, for $19.17 million (about 143.3 crore). On Monday, security analytics and automation firm Rapid7, Inc had announced the acquisition of IntSights Cyber Intelligence Ltd - which provides contextualised external threat intelligence and proactive threat remediation - for USD 335 million in cash and stock.

20 Jul 2021, 03:14:53 PM IST

Asian Paints hits ₹3 trillion market capitalization for the first time

Asian Paints Ltd hits 3 trillion market capitalization on Tuesday after its shares hit a fresh record high with gaining over 14% so far this year. The stock hit an all-time high of 3,178 on BSE and rose as much as 6.66%. At 2.50 pm, the scrip was trading at 3,144, up 5.53% from its previous close. So far this year it rose 14.67%.

20 Jul 2021, 03:11:22 PM IST

AU Bank, IndusInd top drags

Nify Bank index
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Nify Bank index
20 Jul 2021, 02:52:13 PM IST

Govt seeks Parliament nod to spend net ₹23,674.81 crore extra in current fiscal year

20 Jul 2021, 02:34:04 PM IST

KFC, Pizza Hut franchisee Devyani International's IPO gets Sebi nod

Sebi has given ita nod to food and beverages major Devyani International Ltd (DIL) IPO to raise nearly 1,400 crore through an initial public offering (IPO). , The largest franchisee of Pizza Hut, KFC, and Costa Coffee, Deyvani International had filed a draft red herring prospectus (DRHP) in May. According to DRHP, the offer comprises a fresh issue of 400 crore and an Offer of Sale of up to 125.33 million equity shares by Investor Selling Shareholder, Dunearn Investments (Mauritus) Pte. Ltd, a wholly owned subsidiary of Temasek Holdings and Promoter Selling Shareholders, RJ Corp Ltd. (Read here)

20 Jul 2021, 02:34:04 PM IST

Motilal Oswal Private Equity launches ₹4,000 cr fund

Motilal Oswal Private Equity (MOPE), the private equity arm of Motilal Oswal Group, is launching its next growth equity fund, the company said today. This will be the fourth fund for the homegrown private equity firm which has been investing in this market since 2007. (Read here)

20 Jul 2021, 02:11:30 PM IST

Asian Paints gains

The company's stock was trading at 3,024.40, up 1.51%. Asian Paints reported consolidated net profit of 5.7 billion compared to 2.18 billion a year ago. Q1 revenues were at 55.8 billion compared to 29.25 billion a year ago. Ebitda was at 12 billion compared to 4.84 billion a year ago.

20 Jul 2021, 01:51:01 PM IST

IOC to build India's first green hydrogen plant

India's largest oil firm IOC will build the nation's first 'green hydrogen' plant at its Mathura refinery, as it aims to prepare for a future catering to the growing demand for both oil and cleaner forms of energy. Indian Oil Corporation (IOC) has drawn a strategic growth path that aims to maintain focus on its core refining and fuel marketing businesses while making bigger inroads into petrochemicals, hydrogen and electric mobility over the next 10 years, its chairman Shrikant Madhav Vaidya said.

20 Jul 2021, 01:46:56 PM IST

DCM Shriram trades lower

DCM Shriram reported Q1 consolidated net profit of 1.57 billion compared to 691 million. The company’s Q1 Ebitda was at 2.83 billion compared to 1.65 billion.

20 Jul 2021, 01:39:16 PM IST

Shyam Metalics: Amarjeet Maurya - AVP - MidCaps, Angel Broking Ltd

"Shyam Metalics and Energy Ltd (SMEL) 1QFY2021 results outperformed the estimates. The top-line grew by ~170% YoY to 2,465cr, mainly due to strong volume growth of ~37% and improvement in realisation. On the operating front, the company reported margin improvement (OPM up by 1,120bp YoY to 27.9%), primarily on account of lower costs during the quarter. The reported net profit grew by ~470% YoY to 458cr, on account of strong sales growth and operating performance. Currently we are positive on the stock."

20 Jul 2021, 01:39:16 PM IST

Swiggy raises $1.25 bn in latest fund raise at $5.5 bn valuation

Food tech startup, Swiggy on Tuesday announced the close of its latest Series J fund raise at $1.25 billion led by SoftBank Vision Fund 2, and its long-term investor, Prosus. Post the funding, Swiggy is expected to be valued at $5.5 billion, up from $3.6 billion as of April 2020, said a person requesting anonymity. The current fundraise also saw participation from existing investors including Accel Partners and Wellington Management. In addition, new investors including Qatar Investment Authority, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Investments and Carmignac also participated as a part of the round.

20 Jul 2021, 01:32:34 PM IST

Rajya Sabha proceedings adjourned for 15 minutes amid uproar by YSR Congress over demand for special status to Andhra Pradesh

20 Jul 2021, 01:31:47 PM IST

Glenmark Life Sciences IPO between 27-29 July

Glenmark Pharmaceuticals Ltd on Tuesday said in a notice to exchanges that its arm Glenmark Life Sciences Ltd initial public offering will open on 27 July and close on 29 July. Glenmark Life Sciences Ltd is an API arm of Glenmark Pharmaceuticals. Currently Glenmark Pharma , promoter, holds 100% stake in the company. The firm has reduced its IPO size. The IPO will consist of a fresh issue of 1,060 crore and an offer for sale of up to 6.30 million shares by Glenmark Pharmaceuticals Ltd.

20 Jul 2021, 01:16:02 PM IST

Sensex heatmap

Sensex at noon
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Sensex at noon
20 Jul 2021, 12:55:05 PM IST

Newgen Software trades lower

Newgen Software reported Q1 net profit of 21.6 crore, down 59% from 52.7 crore in the previous quarter. The company’s revenue was down 20% at 159.5 crore from 200 crore in the previous quarter. Ebitda was down 66% to 22.7 crore compared to 66.4 crore in the previous quarter.

20 Jul 2021, 12:50:19 PM IST

Tata Motors to raise up to ₹500 cr via NCDs

Tata Motors on Tuesday said its board has approved a proposal to raise up to 500 crore through the issue of securities on a private placement basis. A meeting of the duly authorised committee has approved for subscription, on a private placement basis, up to 5,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) E30-B Series of face value 10,00,000 each aggregating up to 500 crore, the auto major said in a regulatory filing.

The Mumbai-based company, however, did not share details as to how it plans to use the capital. (PTI)

20 Jul 2021, 12:34:23 PM IST

Kotak Mahindra Bank signs MoU with Indian Navy

Kotak Mahindra Bank on Tuesday said it has signed a memorandum of understanding (MoU) with the Indian Navy for salary accounts. The MoU enables the bank to offer its salary account proposition to all personnel of the Indian Navy—both serving and retired. The bank said it will also offer special salary account benefits to the Indian Navy. The signing ceremony took place in New Delhi and was jointly chaired by Commodore Neeraj Malhotra (commodore pay and allowances) of the Indian Navy and Parminder Varma, business head (corporate salary) at Kotak Mahindra Bank. (Read here)

20 Jul 2021, 12:11:04 PM IST

Shyam Metalics gains

The company's stock was trading at 443.00 apiece, up 3.02%. The company reported consolidated net profit of 4.58 billion in the June quarter compared to 803 million a year ago, and 3.87 billion in March quarter 2021. Revenues were at 24.65 billion compared to 9.12 billion a year ago. Q1 ebitda was at 6.94 billion, compared to 1.7 billion a year ago, and 6.26 billion in the previous quarter.

20 Jul 2021, 12:11:04 PM IST

Covaxin decision date 'to be confirmed', says WHO

The World Health Organisation is likely to approve India’s only indigenously developed vaccine in use so far, Bharat Biotech’s Covaxin, for an emergency use listing soon. In an update on its website, the WHO, which began rolling data on July 6, said the date for a decision on the jab is yet "to be confirmed". (Read here)

20 Jul 2021, 11:48:05 AM IST

SC strikes down 97th constitutional amendment provisions relating to cooperative societies

The apex court upheld a 2013 Gujarat high court judgment that struck down the amendment since it was passed without ratification by one half of state legislatures as mandated by Article 368(2) of the Constitution, LiveLaw reported.

20 Jul 2021, 11:35:53 AM IST

DCM Shriram trades lower

The company's stock was trading 5.15% lower at 11:34 am. The stock had rallied 18% on the back of volumes in intra day trade on Monday. The sugar company will be posting its Q1 result today.

20 Jul 2021, 11:31:50 AM IST

All sectors in red

Nifty sectoral indices
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Nifty sectoral indices
20 Jul 2021, 11:24:29 AM IST

SC terms as “wholly uncalled for” relaxations granted by Kerala Govt for Bakrid in areas having highest covid-19 positivity rate

20 Jul 2021, 11:23:34 AM IST

Hemisphere Properties, Oberoi Realty top drags

Nifty realty index
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Nifty realty index
20 Jul 2021, 11:15:00 AM IST

Lok Sabha adjourned to meet again at 02:00 P.M.

20 Jul 2021, 11:07:13 AM IST

HDFC twins, ICICI Bank top drags

Index contribution
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Index contribution
20 Jul 2021, 10:42:09 AM IST

HDFC Life increases mortality buffer to ₹700 cr

HDFC Life has increased its covid related mortality buffer to 700 crore. The insurer expects more claims in the next two months. The life insurer has not factored in a covid third wave in this buffer, HDFC Life Insurance Co. managing director and chief executive Vibha Padalkar said.

20 Jul 2021, 10:42:09 AM IST

World Bank, GMR, L&T, TATA have shown interest in Sonnagar-Gomoh section: Indian Railway

Organisations like World Bank, Kotak Mahindra Bank Ltd, KPMG, L&T, GMR and TATA Projects are some big ticket entities that have shown interest in the Eastern Dedicated Freight Corridor's Sonnagar-Gomoh section which is to be built through the Public-Private Partnership (PPP) mode, officials said on Monday. The section is estimated to be built at a cost of 9,000 crore and expected to serve major power houses, industrial corridors and MMLPs in Haryana, Punjab, Delhi and Uttar Pradesh. The Sonnagar-Dankuni section (536 km) has been approved by the Railways Ministry to develop through PPP and it forms part of the 1,875 km-long Eastern Dedicated Freight Corridor (EDFC).

20 Jul 2021, 10:34:58 AM IST

Radico Khaitan gains

Radico Khaitan's stock was trading at 817.15 apiece, down 1.15% at 10:29 am. On 14 July, the company allotted 80,000 shares of 2 each to the eligible

staffers under the announced its employee stock option scheme.

20 Jul 2021, 10:27:41 AM IST

Adani Enterprises trades lower

The company's stock was trading at 1,355.65 apiece, down 1.80%. Adani group has said that it has not received any communication or information requests recently from the Securities and Exchange Board of India (Sebi) recently and the Directorate of Revenue Intelligence (DRI) show-cause notice was issued five years back. The DRI and Sebi are investigating some entities of Adani Group for non-compliance of rules, MoS Finance Pankaj Chaudhary informed Parliament on Monday.

20 Jul 2021, 10:15:40 AM IST

Govt denies news of ITC stake sale: report

20 Jul 2021, 10:13:34 AM IST

Gold prices today rise to near 1-month high but down ₹8,000 from record high

Gold edged higher today in Indian markets, pushing prices to near one-month high. On MCX, gold futures were up 0.38% to 48,278 per 10 gram while silver advanced 0.3% to 67,442 per kg. In the previous session, gold had edged up 0.12% while silver slumped over 1,000 per kg. In international markets, gold has rebounded this month to trade above $1,800 an ounce after a plunge in June amid fears over pace of monetary tightening by the US Fed. In India, gold had hit a record high of 56,200 in August last year. (Read here)

20 Jul 2021, 10:12:39 AM IST

Rupee slips 6 paise to 74.94 against US dollar in early trade

20 Jul 2021, 10:09:54 AM IST

Nifty quote: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

"The Nifty is threatening the 15,600 level and we are not very far from that crucial support zone. What needs to be monitored is: either we take support and bounce back to resume the current uptrend and head back to 15,900-16,000 or we break this level on a closing basis and the next possible target could be 15,400. Traders are advised to maintain caution and keep strict stops on their trades."

20 Jul 2021, 10:09:54 AM IST

Tyre manufactures to see double-digit revenue growth

India’s top tyre manufacturers are expected to report double-digit growth in revenues on the back of improved sales to automakers and in the aftermarket segment. Capacity expansion and a rise in export demand will help sustain growth after five years of muted performance, according to a report by brokerage firm Motilal Oswal Institutional Equities. (Read here)

20 Jul 2021, 10:03:06 AM IST

ACC stock up 6% on stellar operating performance in June quarter

Cement major ACC Ltd kicked-off June quarter earnings season for the sector with stellar operating performance. That realisations would be strong was already being factored-in by the Street as cement prices remained firm despite weak demand. However, ACC's Ebitda of 875 crore in the June quarter was much ahead of Bloomberg's consensus estimate of 720 crore. Ebitda is short for earnings before interest, tax, depreciation and amortization. Ebitda per tonne rose by nearly 19% sequentially to 1,279. According to analysts, this is the highest ever Ebitda/tonne reported by the company.

20 Jul 2021, 09:50:43 AM IST

India reports 30,093 new Covid cases—lowest daily figure in 4 months

India reported a decline in daily coronavirus cases as well as daily deaths on Tuesday as per the health ministry's bulletin. As per the 9 am data, India reported 30,093 new COVID-19 cases and 374 fatalities in 24 hours.

Yesterday, India had recorded 38,164 Covid cases and 499 deaths. (Read here)

20 Jul 2021, 09:48:09 AM IST

Just Dial has 20.87% of shares change hands in pre-market trade

Shares of Just Dial Ltd on Tuesday witnessed a series of block deals on the exchanges in pre-market trade with around 13 million shares, comprising nearly 21% stake in the company, changing hands, Bloomberg reported. Details of the buyers and sellers were not available. At 9.36am, the scrip was trading at 1024 on BSE, up 0.63% from its previous close. Earlier on Friday, Reliance Retail Ventures, an arm of RIL, bought controlling stake in Just Dial in a cash deal worth 5710 crore.

20 Jul 2021, 09:40:39 AM IST

Banks, realty top drags

Nifty sectoral indices
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Nifty sectoral indices
20 Jul 2021, 09:22:41 AM IST

Market opening

The Sensex opened at 52,432.88, down 120.52 points, or 0.23%, while Nifty was at 15,703.95, 48.45, or 0.31%. Banks, financials opened in red. On the 30-share Sensex, PowerGrid, M&M, Kotak Mahindra Bank, and 14 other stocks opened in green, while HDFC twins, ICICI Bank, HUL, and 9 other stocks opened in red.

Sensex at open
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Sensex at open
20 Jul 2021, 09:13:32 AM IST

Market pre-opening

The Sensex was at 52,432.88, down 120.52 points, or 0.23% at market pre-opening, while the Nifty was at 15,703.95, down 48.45 points or 0.31%.

Sensex at pre-open
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Sensex at pre-open
20 Jul 2021, 09:10:17 AM IST

Dogecoin prices jump, but slip later after Elon Musk changes his Twitter profile picture

Elon Musk, the self-proclaimed 'Dogefather' has changed his profile picture on Twitter to a headshot with Doge reflecting in his sunglasses. The meme coin prices jumped as a result yesterday, however, failed to hold on to the gains today as Dogecoin was trading over 5% lower at $0.16, CoinDesk data showed. (Read here)

20 Jul 2021, 08:56:23 AM IST

Bitcoin, ether, dogecoin prices fall today

In cryptocurrencies, Bitcoin prices today fell nearly 4% to $30,303.97 whereas ether, the second largest crypto declined 7% to $1,755. Other digital tokens like Cardano, XRP, Litecoin, Uniswap also plunged more than 5% over the last 24 hours. (Read here)

20 Jul 2021, 08:43:46 AM IST

Stocks to Watch

ACC, Adani group, HCL Tech, PNB HFL, Vedanta, telecom stocks, among other scrips may be in focus today. (Read here)

20 Jul 2021, 08:31:09 AM IST

IBM posts its best quarter in 3 years, reports biggest increase in revenue

International Business Machines Corp. reported its biggest increase in revenue in three years on the back of strong cloud-computing demand, beating analysts’ estimates and signaling Chief Executive Officer Arvind Krishna’s pivot to the fast-growing market is starting to pay off. The shares jumped as much as 4.3% in extended trading in New York. Sales rose 3.4% to $18.7 billion for the three months ending June 30, the Armonk, New York-based company said Monday in a statement. That was well ahead of the $18.3 billion analysts had forecast, on average, according to data compiled by Bloomberg. (Read here)

20 Jul 2021, 08:16:44 AM IST

Market outlook

Markets are likely to stay weak on Tuesday while trends in SGX Nifty indicate a soft opening of Indian benchmark indices. On Monday, the BSE Sensex ended at 52,553.40, down 586.66 points or 1.10%. The Nifty closed at 15,752.40, down 171 points or 1.07%.

20 Jul 2021, 08:07:51 AM IST

LIC HFL approaches SAT to settle issue on preference shares

The housing finance arm of the country's largest life insurer, LIC Housing Finance, has approached the Securities Appellate Tribunal (SAT) with regard to the company's proposal of allotting over 4.5 crore preferential shares to the parent company LIC. The company has been asked to explain how it arrived at the decision to fix the issue price for the preference shares at 514.25 apiece for allotting 4,54,00,000 equity shares to LIC. (PTI)

20 Jul 2021, 07:54:49 AM IST

Petrol, diesel prices remain at record high levels

Fuel prices today were kept unchanged again for the third consecutive day, however, still remained at record high levels across metros given the continuous increase in prices in the last few months. Petrol is retailing at 101.84 in Delhi, whereas diesel at 89.87. In India's financial capital Mumbai, petrol is being sold at 107.83 per litre, whereas diesel has reached 97.45 per litre. In Kolkata, petrol prices stand at 102.08 per litre and diesel prices at 93.02 per litre. In Chennai, petrol prices at 102.49 per litre; diesel prices – 94.39 per litre. (Read here)

20 Jul 2021, 07:54:03 AM IST

Asian stocks open lower

A retreat in global stocks moderated Tuesday and U.S. futures climbed as investors assessed the threat posed to the economic recovery from the spread of the delta coronavirus variant. Treasuries trimmed gains.

Equities fell modestly in Japan and China -- where banks kept the benchmark loan rate steady -- and were little changed in Hong Kong. U.S. contracts advanced after the S&P 500 fell the most in two months on a reversal of the reopening trade as cyclicals like energy and financial shares slid.

S&P 500 futures rose 0.5% as of 10:48 a.m. in Tokyo. The S&P 500 fell 1.6%.

Nasdaq 100 futures gained 0.6%. The Nasdaq 100 fell 0.9%

Japan’s Topix index fell 0.8%

Australia’s S&P/ASX 200 index fell 0.3%

South Korea’s Kospi index lost 0.3%

Hong Kong’s Hang Seng index was steady

China’s Shanghai Composite declined 0.5%

SGX Nifty was down 0.29%

20 Jul 2021, 07:37:02 AM IST

Wall Street indices see significant plunge

Stocks on Wall Street fell as much as 2% on Monday, with the Dow posting its worst day in nine months, as a rise in worldwide coronavirus cases and increasing U.S. deaths drove investors out of risky assets, crushing bond yields and share prices. Oil prices plunged more than 6%, driven down both by worries about future demand and by an OPEC+ agreement to increase supply. U.S. Treasury bond yields tumbled to five-month lows, with the yield on benchmark 10-year notes sinking 12.2 basis points to 1.177%, close to the session's low of 1.176%, a level last seen in February. All three major U.S. stock indexes ended trading sharply lower, with the S&P and the Nasdaq suffering their largest one-day percentage falls since mid-May.The Dow Jones Industrial Average fell 725.81 points, or 2.09%, to 33,962.04, the S&P 500 lost 68.67 points, or 1.59%, to 4,258.49 and the Nasdaq Composite dropped 152.25 points, or 1.06%, to 14,274.98.

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