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Closing Bell: Markets end lower for seventh session, Nifty at 11,302; Reliance Industries down 3.5%

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Indian shares ended lower for the seventh straight session on Thursday, mirroring losses across Asia, as increased tensions ahead of crucial US-China trade talks raised fresh concerns over the global economic outlook.

Closing Bell: Markets end lower for seventh session, Nifty at 11,302; Reliance Industries down 3.5%
  • Sectoral Trend: Nifty Metal slips most, Nifty Media up 3%##Sectoral Trend: Nifty Metal slips most, Nifty Media up 3%

    Closing Bell: Markets end lower for seventh session, Nifty at 11,302; Reliance Industries down 3.5%
  • Top Nifty gainers and losers: Zee gains 8%, RIL slips 3.5%##Top Nifty gainers and losers: Zee gains 8%, RIL slips 3.5%

    Closing Bell: Markets end lower for seventh session, Nifty at 11,302; Reliance Industries down 3.5%
  • Closing Bell: Markets end lower for seventh session, Nifty at 11,302; Reliance Industries down 3.5%##Closing Bell: Markets end lower for seventh session, Nifty at 11,302; Reliance Industries down 3.5%

    Indian shares ended lower for the seventh straight session on Thursday, mirroring losses across Asia, as increased tensions ahead of crucial US-China trade talks raised fresh concerns over the global economic outlook.  The Sensex settled 230 points lower at 37,559, while the Nifty50 lost 58 points to end at 11,302. The broader markets were also under pressure with Nifty Midcap down 0.2 percent and Nifty Smallcap indices ending 0.6 percent lower.  Shares of index heavyweight Reliance Industries fell 3.5 percent, dropping to their lowest in more than two months, after brokerage Morgan Stanley cut rating on the stock saying global oil issues, and gas glut would hurt the conglomerate’s earnings.  BPCL, Coal India, Asian Paints and Kotak Bank were the other top losers on Nifty. Meanwhile, Zee, YES Bank, Hero Moto Corp, Bajaj Finance, and Bajaj Finserv  were top gainers.

  • Here's why Eveready Industries shares plunged 53% since April 1##Here's why Eveready Industries shares plunged 53% since April 1


    Shares of Eveready Industries has fallen 53 percent since April 1, 2019, and in the last 15 months, the market value of India's largest maker of dry and flashlight batteries has plunged 75 percent. This month, India Ratings and Research downgraded the company’s long-term rating because of continued high net leverage and weakened liquidity. The reason behind this was the pile of ballooning debt and interest costs.

    The company’s deteriorating financial performance can be seen in the third quarter of FY19 where its finance cost doubled to Rs 16.77 crore from Rs 6.89 crore a year ago due to increased distribution cost. Also, its net profit declined 99 percent to Rs 20 lakh during the same quarter. Meanwhile, its debt level stood at Rs 320 crore, as of September 2018. READ MORE

  • Asian Paints Q4FY19 numbers come below expectations##Asian Paints Q4FY19 numbers come below expectations

  • Markets to remain volatile in May: Here are the top sectors recommended by Kotak Securities

    Analysts believe this volatility will continue until the election results due on May 23, 2019.
    Closing Bell: Markets end lower for seventh session, Nifty at 11,302; Reliance Industries down 3.5%
  • Jet Airways surges on reports that London-based AdiGro Aviation will bid for airlines##Jet Airways surges on reports that London-based AdiGro Aviation will bid for airlines

    Shares of Jet Airways gained 12 percent in an otherwise weak market on Thursday after a news report that AdiGro Aviation, part of the London-based AdiGroup, is set to bid for distressed airline Jet Airways on May 10, the last day for bidding. The stock has risen 16 percent in the last 2 days.


    Group founder Sanjay Viswanathan said he has the backing of key investors. "We are certainly putting in a bid," Viswanathan told Moneycontrol over the telephone from London. READ MORE

  • KEC International expects order inflows worth Rs 17,000 crore in FY20, says CEO Kejriwal##KEC International expects order inflows worth Rs 17,000 crore in FY20, says CEO Kejriwal


    Shares of KEC International, a maker of electric power transmission towers, is under pressure Thursday after the company's fourth-quarter net profit was below analysts' estimates. Vimal Kejriwal, MD & CEO of the company, spoke to CNBC-TV18 about the results.

    “So for FY20 we are looking at the growth of around 15 percent for T&D and overall would be between 15-20 percent for the company,” he added. "We expect order inflows worth Rs 17,000 crore in FY20," said Kejriwal. READ MORE

  • Apollo Tyres reports Q4 numbers, net profit comes in lower on back of a one-time loss of Rs 100 crore##Apollo Tyres reports Q4 numbers, net profit comes in lower on back of a one-time loss of Rs 100 crore

  • Net inflows in equity funds fall to Rs 4,609 crore in April, SIP inflows rise##Net inflows in equity funds fall to Rs 4,609 crore in April, SIP inflows rise

    Equity funds witnessed a sharp decline in net flows in April, while outflows in balanced funds and liquid funds narrowed month-over-month, data released by the Association of Mutual Funds in Inda (Amfi) showed on Thursday. Total assets under management (AUM) stood at Rs 25.27 lakh crore in April 2019 and total net inflows came in at Rs 1 lakh crore.


    Net inflows in equity funds, including equity-linked saving schemes (ELSS), fell 61 percent to Rs 4,608.74 crore in April, compared to Rs 11,756 crore in March. in April 2018, equity funds' net inflows were 11,171 crore. READ MORE

  • FADA expects demand revival by mid to end-June##FADA expects demand revival by mid to end-June


    Retail sales of cars and SUVs dipped two percent in April to 2.42 lakh units, according to the data from the Federation of Automobile Dealers Association (FADA). Ashish Harsharaj Kale, the president of FADA, said the inventory levels for all category of vehicles is higher than normal.

    "For the passenger vehicles, the inventory is between 40-45 days and that for two-wheelers and commercial vehicles is between 45-50 days, while a normal healthy inventory level is of 30 days in a market," Kale said on Thursday. Talking about the demand outlook, Kale said, "Expect demand to come back by mid-June to end-June if the above positive triggers fall in place. Customer inquiry level and overall interest in automobiles are strong but the purchase decisions are pending right now". READ MORE

  • Rupee weakens past 70/$##Rupee weakens past 70/$

  • Voltas Q4 earnings: What you should watch out for##Voltas Q4 earnings: What you should watch out for

    Voltas is expected to report steady earnings for the quarter ended March 31 on Thursday. The company is likely to report topline growth of 10 percent. EBITDA is expected to come down because the margins might deplete and the unitary cooling product segment because of the pricing pressure as well as high inventory costs that the companies are facing. The company's net profit is expected to fall about 10 percent at Rs 175 crore.

  • Make larger allocation in multicap funds, says Aditya Birla AMC##Make larger allocation in multicap funds, says Aditya Birla AMC


    Uncertainty over Lok Sabha election results along with negative global cues and foreign capital outflow in the last three-four days have led to a correction in largecap stocks, said Mahesh Patil, co-chief investment officer, Aditya Birla Sun Life AMC.

    According to Patil, the broader market is still looking fairly good and attractive at this point in time though it has not participated in the rally. One should not get carried away by the price momentum because of inflows and outflows but focus on companies with earnings visibility of 1-2 years. The market breadth may improve but still remain narrow because of global environment and uncertainty around, he said. READ MORE

  • The ETF party has ended, are you still on the floor?

    What a brutal selloff it has been on Dalal Street over the last 5 days!
    Closing Bell: Markets end lower for seventh session, Nifty at 11,302; Reliance Industries down 3.5%
  • Asian Paints Q4 results today: Analysts expect double-digit volume growth##Asian Paints Q4 results today: Analysts expect double-digit volume growth


    Asian Paints will release its fourth-quarter earnings on Thursday and the street is expecting a double-digit volume growth on not so favourable base. The key numbers to watch out for is 16 percent revenue growth on a consolidated basis at Rs 5200 crore. EBITDA is likely to grow 14 percent at Rs 958 crore. Asian Paints' Q4 net profit is expected to rise 15 percent to Rs 570 crore. However, margins are likely to compress a bit at 18.4 percent versus 18.7 percent year on year. READ MORE

  • RIL shares slip over 3% after Morgan Stanley downgrades rating##RIL shares slip over 3% after Morgan Stanley downgrades rating

    Reliance Industries (RIL) fell 3.15 percent on Thursday after Morgan Stanley downgraded the company's rating citing headwinds in the energy business. The brokerage cut RIL's rating to 'equal-weight' and revised the target price to Rs 1,349 per share from Rs 1,230 earlier.


    "The headwinds in the energy business are 1) rising premium on heavy & medium grade crude; 2) a rising global glut in PX/MEG (Paraxylene and monoethylene glycol) products; and 3) a glut in gas markets that lowers expectations from new petcoke gasifiers," the brokerage firm said in its research report. READ MORE

  • Top gainers and losers on Nifty50 at this hour##Top gainers and losers on Nifty50 at this hour

    Closing Bell: Markets end lower for seventh session, Nifty at 11,302; Reliance Industries down 3.5%
  • Make larger allocation in multicap funds, says Aditya Birla AMC##Make larger allocation in multicap funds, says Aditya Birla AMC


    Uncertainty over Lok Sabha election results along with negative global cues and foreign capital outflow in the last three-four days have led to a correction in largecap stocks, said Mahesh Patil, co-chief investment officer, Aditya Birla Sun Life AMC.

    According to Patil, the broader market is still looking fairly good and attractive at this point in time though it has not participated in the rally. One should not get carried away by the price momentum because of inflows and outflows but focus on companies with earnings visibility of 1-2 years. The market breadth may improve but still remain narrow because of global environment and uncertainty around, he said. READ MORE

  • Jindal Steel & Power Limited wins order worth Rs 665 crore##Jindal Steel & Power Limited wins order worth Rs 665 crore

    Jindal Steel & Power Limited (JSPL) has won an order from Rail Vikas Nigam Limited (RVNL) to supply 89042 tonnes of UIC 60 kg IRS T-12 880 grade 13 meter rails for its upcoming projects. The order is valued at approximately Rs 665 crore.

  • Trade war will put global growth recovery at risk, says JPMorgan's Jahangir Aziz
    Jahangir Aziz, head of emerging markets economic research at JPMorgan, spoke to CNBC-TV18 about the world economy, the US-China trade talks and Indian macroeconomic data.Get latest Market online at cnbctv18.com
    Closing Bell: Markets end lower for seventh session, Nifty at 11,302; Reliance Industries down 3.5%
  • Apollo Tyres Q4 results today: Double-digit topline growth likely##Apollo Tyres Q4 results today: Double-digit topline growth likely

    Apollo Tyres will report its fourth-quarter earnings on Thursday and analysts expect the company to report a 10 to 12 percent topline growth. Apollo Tyres is expected to report a decent quarter with double-digit topline growth of 10-12 percent. The company is expected to post a sequential improvement in margins at 11.6 to 12 percent versus 11.2 percent reported in the last quarter on the back of reduction in crude derivatives like synthetic rubber etc. The raw material cost per kilogram is expected to decline 3 percent quarter on quarter basis. READ MORE

  • HCL Technologies Q4 results today: Key things to watch out for##HCL Technologies Q4 results today: Key things to watch out for


    HCL Technologies will release its fourth-quarter earnings on Thursday and the analysts are expecting good numbers from the IT firm on the back of strong deal wins. So far in 2019 HCL Tech has outperformed the Nifty IT on the back of strong deal wins announced by the company and expectation of meaningful growth improvement for the company in FY20 vis-à-vis FY19. The street is expecting a dollar revenue growth of 2.6 percent. In constant currency terms, it should be a growth of 2.2-2.3 percent. READ MORE

  • IT stocks lead market recovery##IT stocks lead market recovery

  • Vodafone Idea to raise funds via InvIT of its fibre assets, says report##Vodafone Idea to raise funds via InvIT of its fibre assets, says report

    Vodafone Idea is planning to raise money through a private infrastructure investment trust (InvIT) of its fibre assets, Mint reported. Last week, the telco informed the exchanges that it is planning to seek shareholder approval to transfer its optical fibre assets to Vodafone Towers, a wholly-owned subsidiary. The telecom firm has already begun talks with pension funds and long-term investors for the proposed InvIT so that the firm can reduce its debt that stands upwards of Rs 1 lakh crore, sources told Mint.

  • Stock recommendations by Sudarshan Sukhani, Mitessh Thakkar, Prakash Gaba for today##Stock recommendations by Sudarshan Sukhani, Mitessh Thakkar, Prakash Gaba for today

    Sudarshan Sukhani 

    - Buy Titan Company with a stop loss of Rs 1,075, target at Rs 1,120

    - Buy HDFC Bank with a stop loss of Rs 2,290, target at Rs 2,330

    Mitessh Thakkar

    - Sell Equitas Holdings with a stop loss of Rs 128.6, target at Rs 120

    - Sell Nestle India with a stop loss of Rs 10,525, target at Rs 9,800

    Prakash Gaba

    - Buy Ceat with a stop loss of Rs 1,047, target at Rs 1,080

    - Buy Castrol India with a stop loss of Rs 148, target at Rs 153

    Click here for more

  • Reliance Industries falls for 4th straight day##Reliance Industries falls for 4th straight day

  • Zee regains some of its looses seen in yesterday's trade##Zee regains some of its looses seen in yesterday's trade

  • Opening Bell: Sensex opens 150 points lower, Nifty holds 11,300 ahead of US-China trade talks, RIL slips##Opening Bell: Sensex opens 150 points lower, Nifty holds 11,300 ahead of US-China trade talks, RIL slips

    The benchmark indices opened lower on Thursday, tracking subdued Asian markets, amid increased tensions ahead of key China-US trade negotiations. Subdued corporate results and caution ahead of national election outcome also weighed on the indices.  At 9:20 AM, the Sensex was down 146 points at 37,647, and the Nifty50 was trading 40 points lower at 11,319. Zee, Titan, HeroMoto Corp, Britannia, and Hindalco were among the major gainers on Nifty50, whereas Reliance, BPCL, YES Bank, UPL, and Adani Ports led the losses. Nifty Metal and Nifty PSU Bank indices gained in opening trade, while Nifty Bank, Nifty Pharma and Nifty Fin Services fell.

  • Rupee opens lower versus Thursday's close##Rupee opens lower versus Thursday's close