UltraTech Cement, Kotak Bank, TCS, Maruti lead gains on Sensex
IndusInd Bank, Nestle India, among others, will announce their June quarter earnings today
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28 Jul 2020, 03:45:02 PM IST
Sensex, Nifty rally over 1% each led by gains in auto, IT stocks
Benchmark indices erased previous session losses and ended near the day's high, largely driven by gains in auto, pharma, IT and metal stocks.
The Sensex closed 558.22 points or 1.47% higher at 38492.95, and the Nifty rose 168.70 points or 1.52% to close at 11300.50. About 1,315 shares advanced, 1,300 declined, and 151 were unchanged.
UltraTech Cement, Kotak Mahindra Bank, Tata Motors, TCS and Grasim Industries were among major gainers on the Nifty, while Bharti Infratel, ICICI Bank, ONGC, Nestle and Asian Paints lagged.
Barring Nifty Media, all sectors ended in green. Nifty Auto was the best-performing index, up 3.21% followed by Nifty IT and Nifty Metal.
BSE MidCap and SmallCap indices rose over 0.5% each.
"We were successful in going past the 11300 level... it can be summarised that we have crossed the range bound movement. The markets should now be headed to 11450-11500 levels. The new support the market needs to respect on the downside is 11100," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
28 Jul 2020, 03:27:20 PM IST
KKR plans to buy stake in fin-tech startup Incred: PTI
Private equity firm KKR is all set to buy stake in fintech startup firm Incred Finance, Press Trust of India reported citing an industry source.
The two have signed an exclusivity agreement under, which the private equity firm plans to merge its retail NBFC arm with Incred.
28 Jul 2020, 03:18:05 PM IST
Nifty broad market indices
28 Jul 2020, 03:16:26 PM IST
Top contributors in Sensex rally
28 Jul 2020, 03:10:31 PM IST
28 Jul 2020, 03:04:27 PM IST
Tata Motors appoints Thierry Bollore as CEO of JLR, effective 10 September
28 Jul 2020, 02:57:51 PM IST
UltraTech Cement extends gains, stock up 8%
Ultratech Cement posted better-than-expected June quarter earnings. Standalone net profit fell 36% year-on-year (y-o-y) to ₹806 crore in the June quarter, while revenue for the quarter declined 33% to ₹7,290 crore. The company exceeded analysts’ estimates on both these fronts.
However, the stock has been rewarded for other key positives such as less- than-expected decline in cement sales volumes, better operating margins on strict cost controls and debt reduction.
28 Jul 2020, 02:55:24 PM IST
Housing sales slump 79% across 8 major cities on pandemic crisis
Housing sales slumped 79% to 19,038 units across eight major cities during April-June as demand took a hit following the nationwide lockdown to curb the spread of pandemic, real estate brokerage firm PropTiger said on Tuesday.
28 Jul 2020, 02:50:13 PM IST
Germany advises against travel to virus-hit Spanish regions: Reuters
28 Jul 2020, 02:43:56 PM IST
India gold futures pare gains
August gold futures on MCX fell to ₹51,739 per 10 gram, down 0.7%, on Tuesday as participants offloaded their holdings on low spot demand. Futures had earlier topped ₹52,000 per 10 gram-mark.
28 Jul 2020, 02:41:39 PM IST
Nissan forecasts record $4.5 bln annual loss on pandemic crisis: Reuters
28 Jul 2020, 02:20:50 PM IST
UltraTech Cement surges 6% after results, top gainer on Sensex
28 Jul 2020, 02:19:22 PM IST
UltraTech Cement gains; Q1 results beat estimates
UltraTech Cement reported a consolidated net profit of ₹797 crore, down from ₹1,281 crore in the year-ago period, while revenue declined to ₹7,633 crore, down 33% on year.
However, profit and revenue were both higher than estimates.
28 Jul 2020, 02:10:41 PM IST
Rupee ends flat at 74.83 to a dollar Tuesday
28 Jul 2020, 02:03:44 PM IST
BSE stocks that touched 52-weeks high today
28 Jul 2020, 01:59:41 PM IST
Marico rises on upbeat June quarter earnings
Marico Ltd on Monday reported a 23.17% year-on-year increase in its consolidated net profit for the June quarter to ₹388 crore.
Revenue from operations fell 11.12% to ₹1,925 crore during the period.
Consolidated earnings before interest, tax, depreciation and amortisation (Ebitda) margins expanded 298 basis points to 24.3%.
As such, Ebitda was 10-13% above Jefferies India Pvt. Ltd and Kotak Institutional Equities’ estimates. A sharp 37% year-on-year drop in advertisement and sales promotion expenses helped the Ebitda beat. Plus, input costs remained softer.
28 Jul 2020, 01:52:18 PM IST
Barring Media and PSU Bank, all Nifty sectoral indices higher
28 Jul 2020, 01:47:17 PM IST
Nifty broad market indices
28 Jul 2020, 01:44:48 PM IST
European shares edge higher, luxury stocks hit by weak earnings
European stocks inched higher on Tuesday as investors held out for more U.S. stimulus to limit the economic damage of the covid-19 pandemic, brushing aside the latest batch of underwhelming quarterly earnings reports from luxury goods makers, Reuters reported.
The pan-European STOXX 600 rose 0.3%, while the German DAX gained 0.5% and London's FTSE 100 was up 0.6%.
28 Jul 2020, 01:43:11 PM IST
Global 5G network infra revenue to reach $8.1 billion in 2020: Gartner
Revenue from 5G network infrastructure is expected to double worldwide in 2020 to reach $8.1 billion, according to Gartner. Investment in 5G network infrastructure will account for 21.3% of the total wireless infrastructure revenue in 2020, up from 10.4% in 2019.
Communication service providers are expected to achieve 5G coverage across 95% of population in Greater China (China, Taiwan and Hong Kong), Asia/Pacific, North America and Japan by 2023.
28 Jul 2020, 01:40:51 PM IST
BSE SmallCap underperforms broader market, up 0.50%
28 Jul 2020, 01:39:31 PM IST
BSE MidCap at 13,659.02, up 0.69%
28 Jul 2020, 01:26:06 PM IST
China starts building southern part of China-Russia East gas pipeline: Reuters
28 Jul 2020, 01:24:09 PM IST
Nippon Life AMC up on rise in June quarter profit
Nippon Life India Asset Management reported a 24.3% year-on-year rise in its June quarter consolidated net profit to ₹156.12 crore.
Total income fell 6.7% to ₹336.18 crore, with assets under management worth ₹2.73 trillion for the quarter ended June.
28 Jul 2020, 01:20:19 PM IST
Top gainers on Nifty 50
28 Jul 2020, 01:15:17 PM IST
28 Jul 2020, 01:07:21 PM IST
Evidence of SARS-CoV-2 exposure found in household cats, dogs in Italy: PTI
Scientists have found neutralising antibodies to the SARS CoV-2 virus, that causes covid-19, in a small proportion of household cats and dogs sampled in Italy, suggesting that the pets may be susceptible to the disease.
The researchers, including those from the University of Liverpool in the UK, tested samples from over 500 pets collected during visits to vets in Northern Italy.
While no animals tested PCR positive for the virus itself, 3.4% of dogs and 3.9% of cats had measurable SARS-CoV-2 neutralising antibodies, the researchers said.
28 Jul 2020, 01:05:10 PM IST
RIL near day's high
Shares of Reliance Industries Ltd (RIL) rose on Tuesday, extending gains from the previous session.
Mint has reported that the oil-to-telecom conglomerate is close to buying Future Group’s retail assets for ₹24,000-27,000 crore to bolster its position in India’s retail segment, citing two people familiar with the details of the deal.
The estimated deal value includes the liabilities of Future Group that Reliance plans to absorb, the people said on condition of anonymity.
28 Jul 2020, 01:01:54 PM IST
Volume toppers on Sensex
28 Jul 2020, 12:59:36 PM IST
Top gainers on BSE
28 Jul 2020, 12:55:21 PM IST
28 Jul 2020, 12:54:04 PM IST
India's first case of mother-child vertical transmission of Covid-19 in Pune: PTI
Pfizer, BioNTech SE begin later-stage trial coronavirus vaccine candidate
Pfizer Inc. and BioNTech SE have begun a later-stage trial for their top coronavirus vaccine candidate and set a goal of submitting it for regulatory review as soon as October -- one of the most ambitious timelines to date, Bloomberg reported.
The move pushes the New York-based pharmaceutical giant and its German partner closer to bringing a vaccine to market, and places them alongside frontrunners like Moderna Inc., which announced earlier Monday that it had started its own large, final-stage trial of a shot based on similar technology.
28 Jul 2020, 12:36:59 PM IST
Nifty Metal major gainer among sectoral indices
28 Jul 2020, 12:35:20 PM IST
Nestle India down ahead of June quarter results
28 Jul 2020, 12:31:45 PM IST
BJP prez Nadda to hold discussions with CMs of BJP-ruled states Wednesday: ANI
28 Jul 2020, 12:24:56 PM IST
Nitrogen dioxide levels fell over 70% during lockdown: PTI
Levels of nitrogen dioxide fell by more than 70% during the coronavirus-induced lockdown in New Delhi, a UN policy brief said on Tuesday, warning that the environmental gains could be temporary if the cities re-open without policies to prevent air pollution and promote de-carbonisation.
28 Jul 2020, 12:23:10 PM IST
India's move to ban Chinese apps hurts rights of companies: CNBC TV18
Consumer products maker Reckitt Benckiser Plc reported better-than-expected quarterly results on Tuesday, as cautious customers stocked up on Lysol and Dettol disinfectants and Mucinex cough syrup during the coronavirus pandemic.
Like-for-like sales for the three months ended June 30 rose 10.5%, handily beating company-provided estimates of 7.8%.
The Slough-based company also said it expects high-single-digit underlying revenue performance in 2020 compared with the mid-single-digit sales growth initially expected.
28 Jul 2020, 11:58:56 AM IST
Most Sensex stocks higher now; ICICI Bank remains worst hit
28 Jul 2020, 11:55:24 AM IST
Nifty IT top gainer among sectoral indices
28 Jul 2020, 11:44:25 AM IST
Angel Broking has Buy ratings on Escorts Ltd, target price ₹1,275/shr
"Escorts is a prominent tractor player domestically with market share in excess of 11%. With rural India relatively less impacted due to covid-19, record food-grain procurement by government agencies as well as expectation of normal monsoon 2020, we expect the tractor industry to outperform the larger automobile space in FY21E with Escorts a key beneficiary."
28 Jul 2020, 11:41:39 AM IST
UltraTech Cement up ahead of June quarter results
28 Jul 2020, 11:38:21 AM IST
Nifty Auto extends gains
28 Jul 2020, 11:30:53 AM IST
Escorts Ltd up on encouraging Q1 results
Escorts Ltd reported a 6% year-on-year rise in June quarter net profit to ₹92.58 crore, largely driven by gains in its farm equipment vertical. Revenue from operations during the quarter under review stood at ₹1,089.26 crore while revenue from the agri machinery segment stood at ₹976.71 crore
28 Jul 2020, 11:26:20 AM IST
India rupee trades higher
The Indian rupee traded higher at 74.76 per dollar on Tuesday amid gains in domestic equities. The unit had opened at 74.86 per dollar compared with previous close of 74.83.
28 Jul 2020, 11:23:06 AM IST
IndusInd Bank extends gains
28 Jul 2020, 11:08:00 AM IST
Yes Bank extends losses, down over 7%
28 Jul 2020, 11:02:10 AM IST
Auto stocks drive gains, Maruti top gainer
28 Jul 2020, 10:51:30 AM IST
HDFC Bank erases early gains, in the red
28 Jul 2020, 10:46:05 AM IST
ICICI Bank extends losses from Monday, worst hit on Sensex today
28 Jul 2020, 10:42:59 AM IST
Nifty Bank erases early gains, in the red
28 Jul 2020, 10:42:08 AM IST
Banks brace for spike in defaults
Small businesses and retail borrowers remain a concern for banks amid the coronavirus crisis even as corporate borrowers gradually exit the loan moratorium, Reserve Bank of India data showed.
According to the central bank’s Financial Stability Report released on Friday, 65.3% of small business loans and 56.2% of retail loans were under moratorium as on 30 April, against only 39.1% of corporate loans.
A clearer picture will emerge when the numbers for the subsequent months are released; however, the retail segment, considered a safer bet for long due to its wider distribution of risk, may not remain so forever.
28 Jul 2020, 10:40:04 AM IST
PM Modi to address world's largest online hackathon on 1 August
"As far as Nifty is concerned, we continue to see 11050 as a sacrosanct support and till the time it trades convincingly above it, there is no reason to worry. On the flip side, if this lead has to extend, the benchmark needs to stay beyond 11250, which would unfold the next leg of the rally. Meanwhile, the range of 11250-11050 should be considered a consolidation band. Now, the breakout in either direction is solely dependent on how Bank Nifty performs over the next couple of days. If banking heavyweights extend their correction, the Nifty will see a breakdown; whereas a breakout above 11250 is out of question without the contribution of banking space.
At this juncture, traders are advised to stay light and should keep a close watch on above mentioned levels as well as scenarios. As of now, our inclination is still on the positive side and hence, we remain hopeful as long as key levels are successfully defended."
28 Jul 2020, 10:32:55 AM IST
Reliance Industries extends gains from Monday
28 Jul 2020, 10:23:19 AM IST
M&M Financial Services' rights issue opens today
Mahindra & Mahindra Financial Services shares rose as the company's rights issue of ₹3,088.8 crore opens today.
It will issue 61.78 crore equity shares of face value of ₹2 each at a price of ₹50 per apiece, aggregating to ₹3,088.82 crore on a rights basis.
28 Jul 2020, 10:15:41 AM IST
NBCC shares up as company bags orders worth ₹204 crore
NBCC Ltd has received orders worth ₹204 crore in Seychelles.
28 Jul 2020, 10:11:25 AM IST
India rupee opens marginally lower
The Indian rupee opened at 74.86 per dollar on Tuesday compared with the previous close of 74.83.
28 Jul 2020, 10:09:38 AM IST
Swiggy to lay off another 350 employees in 'final alignment' exercise
After laying off 1,100 employees across cities in May, food tech unicorn Swiggy has decided to let go of another 350 people.
"In May, we began the exercise of realigning resources to create capacity in higher potential areas with the optimism of the business attaining pre-covid-19 levels in the near-term. However, with the industry still only having recovered to about 50% of its peak, we have to, unfortunately, go ahead with this final realignment exercise, which will result in the net loss of 350 jobs," Swiggy said in a statement.
28 Jul 2020, 10:05:34 AM IST
India gold prices higher
On MCX, August gold futures rose 0.6% to a new high of ₹52,410 per 10 gram, while silver futures advanced 2% to ₹67,000 per kg.
In the previous session, gold had surged 2.2%, crossing the ₹52,000 level for the first time. Silver had jumped 7.5%.
In global markets, the yellow metal continued its record-breaking rally as investors bet that the US Federal Reserve will continue with its accommodative monetary policy. Fed policymakers meet later this week.
Spot gold surged to $1,975 an ounce, rising $160 in just six sessions. Gold futures rose 2.3% to $2,000 an ounce
28 Jul 2020, 10:00:35 AM IST
Yes Bank extends losses, below FPO issue price of ₹12/share
28 Jul 2020, 09:58:32 AM IST
Former Malaysian PM Najib Razak found guilty of all charges in corruption scandal: Agencies
28 Jul 2020, 09:55:56 AM IST
Nifty Auto top gainer among sectoral indices
28 Jul 2020, 09:46:28 AM IST
Nifty sectoral indices
28 Jul 2020, 09:41:17 AM IST
IndusInd Bank up over 2% ahead of Q1 earnings
28 Jul 2020, 09:33:03 AM IST
Tech Mahindra top gainer on Sensex as Q1 results beat estimates
28 Jul 2020, 09:24:30 AM IST
Nifty broad market indices in early deals
28 Jul 2020, 09:22:12 AM IST
Top gainers/losers on Nifty
28 Jul 2020, 09:20:18 AM IST
Sensex stocks in early deals
28 Jul 2020, 09:18:12 AM IST
Nifty at open
28 Jul 2020, 09:17:31 AM IST
Sensex in opening deals
28 Jul 2020, 09:04:21 AM IST
Sensex stocks at pre-open
28 Jul 2020, 09:03:22 AM IST
Nifty at pre-open
28 Jul 2020, 09:02:30 AM IST
Sensex at pre-open
28 Jul 2020, 08:44:46 AM IST
Tech Mahindra to be in focus today
Information technology services provider Tech Mahindra on Monday reported a consolidated net profit of ₹972 crore for the first quarter of fiscal 2021, up 20.9% sequentially and 1.4% year-on-year.
Revenue from operations grew to ₹9,106 crore, down 4% sequentially but up 5.2% from the year-ago period.
June quarter earnings beat consensus estimates which had pegged revenue at ₹9,000.40 crore and net profit at ₹748.50 crore.
28 Jul 2020, 08:35:25 AM IST
RIL in focus; company may buy Future Group’s retail biz for ₹27,000 crore
Reliance Industries Ltd (RIL) is close to buying Future Group’s retail assets for ₹24,000-27,000 crore to bolster its position in India’s retail segment, according to two people familiar with the details of the deal.
The estimated deal value includes the liabilities of Future Group that Reliance plans to absorb, the people said on condition of anonymity.
Five listed entities, including Future Retail Ltd, Future Consumer, Future Lifestyle Fashions, Future Supply Chain and Future Market Networks, will be merged into Future Enterprises Ltd (FEL) before the sale of the assets, the people said on condition of anonymity.
"Our stock indices mirrored the volatility in global markets. The Nifty ended lower (on Monday) mainly due to weakness in financial and pharmaceutical stocks. Consolidation in the market is on the verge of breaking down in the near future. One needs to be careful when adding long positions at high levels. Buying on dips should only be on large supports such as 10900 or 10800. Avoid shopping on minor repairs. The resistance exists at 11300/11350 levels."
28 Jul 2020, 08:13:50 AM IST
Sebi slaps ₹1 crore fine on CARE Ratings in RCom case: PTI
Markets regulator Sebi has imposed a penalty of ₹1 crore on CARE Ratings in connection with lapses in assigning credit rating to non-convertible debentures of Reliance Communications (RCom), Press Trust of India reported.
The case relates to default committed by RCom on the repayment of principal amount of ₹375 crore and interest of ₹9.7 crore due in February 2017 and March 2017, respectively.
In May 2017, CARE Ratings had downgraded ratings assigned to non-convertible debentures (NCDs) issued by RCom to default.
Sebi found that CARE Ratings had failed to monitor the factors affecting the creditworthiness of RCom in a timely manner, resulting in significant delay in conducting the rating process and downgrading the rating.
A total of 132 companies, including IndusInd Bank, UltraTech Cement, and Nestle India, are scheduled to announce their June quarter earnings today.
28 Jul 2020, 08:00:53 AM IST
SGX Nifty futures higher
SGX Nifty futures were at 11,175.30, up 0.54%, indicating a strong start to domestic benchmark indices.
On Monday, the Sensex had closed 194.17 points or 0.51% lower at 37934.73, and the Nifty fell 62.40 points or 0.56% to end at 11131.80.
28 Jul 2020, 07:58:13 AM IST
Major Asian indices tick higher in early deals
Asian equities rose on Tuesday in early deals following overnight gains in US peers and on expectations that the Federal Reserve will reinforce its dovish message this week amid stimulus talks.
S&P 500 futures rose 0.3% while Japan's Topix index rose 0.2%. Australia’s S&P/ASX 200 Index climbed 0.7%, the South Korean Kospi rose 1.7%, and Hong Kong’s Hang Seng Index gained 0.7%. Shanghai Composite Index added 0.7%.
28 Jul 2020, 07:49:22 AM IST
US equities end higher Monday; investors eye stimulus, pandemic and earnings
Wall Street's main indexes closed higher on Monday as investors monitored progress in U.S. government stimulus efforts along with the country's rising covid-19 cases and bet on some of the most high-profile stocks ahead of earnings, Reuters reported.
The Dow Jones Industrial Average rose 116.26 points, or 0.44%, to 26,586.15, the S&P 500 gained 23.88 points, or 0.74%, to 3,239.51 and the Nasdaq Composite added 173.09 points, or 1.67%, to 10,536.27.
Investors also focused on government stimulus as U.S. Senate Republicans raced to complete details of a $1 trillion coronavirus aid proposal before enhanced unemployment benefits expire on Friday. The aid proposal, which could involve a reduction in emergency federal weekly unemployment benefits from $600 to $200, would then need to be negotiated with Democrats.