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Business News/ Markets / Stock Markets/  Sensex rallies over 550 points, Nifty ends at 11,300; UltraTech Cement soars 7%
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Sensex rallies over 550 points, Nifty ends at 11,300; UltraTech Cement soars 7%

UltraTech Cement, Kotak Bank, TCS, Maruti lead gains on Sensex
  • IndusInd Bank, Nestle India, among others, will announce their June quarter earnings today
  • Government stimulus in the aftermath of the coronavirus pandemic has boosted equities world over. (Photo: Reuters)Premium
    Government stimulus in the aftermath of the coronavirus pandemic has boosted equities world over. (Photo: Reuters)

    Welcome to the Mint live blog. Track this space for latest stock market updates.

    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.

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    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

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    28 Jul 2020, 03:16:26 PM IST

    Top contributors in Sensex rally

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    28 Jul 2020, 03:10:31 PM IST

    Market check

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    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.

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    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

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    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.

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    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

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    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.


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    28 Jul 2020, 01:52:18 PM IST

    Barring Media and PSU Bank, all Nifty sectoral indices higher

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    28 Jul 2020, 01:47:17 PM IST

    Nifty broad market indices

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    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%

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    28 Jul 2020, 01:39:31 PM IST

    BSE MidCap at 13,659.02, up 0.69%

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    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.

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    28 Jul 2020, 01:20:19 PM IST

    Top gainers on Nifty 50

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    28 Jul 2020, 01:15:17 PM IST

    Sensex contributors

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    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.

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    28 Jul 2020, 01:01:54 PM IST

    Volume toppers on Sensex

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    28 Jul 2020, 12:59:36 PM IST

    Top gainers on BSE

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    28 Jul 2020, 12:55:21 PM IST

    Market check

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    28 Jul 2020, 12:54:04 PM IST

    India's first case of mother-child vertical transmission of Covid-19 in Pune: PTI

    28 Jul 2020, 12:47:29 PM IST

    Flipkart launches hyperlocal 90-minute delivery service, Flipkart Quick: Reuters

    28 Jul 2020, 12:41:41 PM IST

    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

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    28 Jul 2020, 12:35:20 PM IST

    Nestle India down ahead of June quarter results

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    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

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    28 Jul 2020, 12:20:48 PM IST

    HDFC hits day's high

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    28 Jul 2020, 12:11:38 PM IST

    Market check

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    28 Jul 2020, 12:06:36 PM IST

    Market check

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    28 Jul 2020, 12:02:39 PM IST

    Reckitt Benckiser second-quarter tops estimates, raises forecast: Reuters

    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

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    28 Jul 2020, 11:55:24 AM IST

    Nifty IT top gainer among sectoral indices

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    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

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    28 Jul 2020, 11:38:21 AM IST

    Nifty Auto extends gains

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    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

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    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.

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