This article is more than 1 year old.

Stock Market Highlights: Sensex, Nifty end in green; Tata Motors up 5%, Adani Enterprises rallies over 20%

Mini

Stock Market Highlights: Indian indices ended in the green despite slipping in the red during the day on Tuesday. Auto and financial stocks contributed the most gains, with Tata Motors up over 5 percent, also the top-gainer of the day. Also, broader markets outperformed the benchmarks, with Nifty Midcap100 and Nifty Smallcap100 indexes closing 0.34 percent and 0.54 percent higher respectively. 

Stock Market Highlights: Sensex, Nifty end in green; Tata Motors up 5%, Adani Enterprises rallies over 20%
  • Here are the key highlights from today's trading session:

    1. Sensex & Nifty close flat, but at fresh 6-month highs

    2. Financial heavyweights help Nifty Bank close at over 5-month high

    3. Banks support while It, FMCG & Reliance Industries drag market

    4. Sensex gains 45 points to 38,844 & Nifty 6 points to 11,472

    5. Midcap Index advances 58 points to 17,160 & Nifty Bank 259 points to 23,092

    6. Tata Motors plans reducing net debt to zero in 3 years, stock up nearly 5%

    7. Tech Mahindra gains over 2% as company sees acceleration in deal signings

    8. Max Financial closes with a gain of 13% after revision of Axis Bank-Max Life deal

    9. Adani Group stock continue their upmove; Adani Enterprises up 24%, Adani Power 5%

    10. Tata Motors, Bajaj Finance, SBI, Tech Mahindra top Nifty gainers

    11. Adani Enterprises, Max Financial, LIC Housing, Adani Gas, Chola Investment gain the most amongst midcaps

    12. Market Breadth favours declines; advance-decline ratio at 4:5

  • Closing Bell: Market ends in green led by auto stocks; Tata Motors top gainer, ends over 5% higher

    Indian indices ended in the green despite slipping in the red during the day on Tuesday. Auto and financial stocks contributed the most gains, with Tata Motors up over 5 percent, also the top-gainer of the day.

    At close, the Sensex ended 45 points or 0.12 percent higher to 38,844 while the Nifty50 index ended at 11,472, up 6 points higher. Also, broader markets outperformed the benchmarks, with Nifty Midcap100 and Nifty Smallcap100 indexes closing 0.34 percent and 0.54 percent higher respectively.

    Nifty PSU Bank remained the best-performing index of the day, closing 1.34 percent higher followed by Nifty Bank (+1.13 percent) and Nifty Financials (+0.91 percent). While, Nifty Realty posted the biggest losses during the day, ending 2.14 percent lower. 

    Tata Motors, Bajaj Finance, SBI, Tech Mahindra and Eicher Motors were the Nifty50 top gainers of the day while GAIL, NTPC, Sun Pharma, Tata Steel and Dr Reddy's Laboratories remained the index losers of the day.

  • Trending Stock: Tata Motors' shares jump over 5 percent to Rs 127.40 per share on the NSE after the company's Chairman N Chandrasekaran at AGM said that they have a target of achieving zero net debt within three years. Meanwhile, CFO PB Balaji said that it aims to become sustainably cash positive by FY22. 

  • Kalyan Jewellers to launch the largest IPO in its sector: Key things to know

    Kerala-based alyan Jewellers is set to issue Rs 1,750-crore initial public offering (IPO), the largest IPO in its sector. The company has filed its offer document with market regulator Securities and Exchange Board of India (Sebi). The timeline, issue size, and price band have yet to be ascertained.

    The development came at a time when gold stocks are witnessing positive response from investors as they move towards the safe haven amid the volatility.

    The issue consists of a fresh fundraise of Rs 1,000 crore and Rs 750 crore secondary share sale by promoter TS Kalyanaraman and private equity firm Warburg Pincus. Here are all the key things you must know about the IPO

  • Procter & Gamble Q4FY20 | The company reports 13.8% YoY rise in profit at Rs 69.2 crore while revenue was down at Rs 634.5 crore. The company has announced dividend of Rs 105/share.

    Stock Market Highlights: Sensex, Nifty end in green; Tata Motors up 5%, Adani Enterprises rallies over 20%
  • Tata Motors AGM: N Chandrasekaran says currently, the company has a net automotive debt of Rs 48,000 crore. We have a target of reducing this to near-zero levels in three years.

  • Rupee Close: The Indian rupee ends flat on Tuesday amidst fluctuating equity market. The rupee ended at 74.33 as against the US dollar as compared to Monday's close of 74.32. The rupee is currently near its 5-month high. 

  • Q1FY21 Review: Pharma cos posted stellar results but industry not out of the woods, says JM Financial


    The Nifty Pharma index underperformed for the last five years, with its weightage in Nifty coming down from 8 percent in 2015 to 3 percent in June this year. The recent comeback has, however, filled the Street with optimism. The index has jumped 87 percent in just five months this year.

    A majority of the companies surpassed analysts' expectations and posted stellar results in the June quarter. But, according to JM Financial, while the larger players may continue to do well, the industry is still not out of the woods.

    "The magnitude of outperformance in the domestic business for most players was a positive surprise with the role played by higher chronic contribution in mitigating the impact of Covid-related disruptions on acute therapies being fairly evident," said the brokerage in a report. Read more

  • Domestic revenue generation is a concern; no better time for cooperation among regulators, industry, Finance Minister says.

    Stock Market Highlights: Sensex, Nifty end in green; Tata Motors up 5%, Adani Enterprises rallies over 20%
  • Block deal alert! Phoenix Mills declines 9% after 1.5 crore shares change hands


    Shares of The Phoenix Mills lost over 9 percent on Tuesday after nearly 1.5 crore shares, representing about 10 percent equity stake worth Rs 1,055 crore changed hands in multiple block deals at an average of Rs 667 per share. The names of the buyers and sellers could not be ascertained immediately. According to sources, promotors are likely to have offloaded shares via the block deals today. The stock fell as much as 9.5 percent to Rs 655.65 per share on BSE.

    For the June quarter, the company posted a net loss of Rs 52 crore, as against its net profit of Rs 153.71 crore in Q1FY20. Its revenue from operations came in at Rs 134.7 crore versus Rs 615.04 crore in the year-ago quarter.

    Also, the real estate developer, earlier this week, raised Rs 1,100 crore via its Qualified Institutional Placement (QIP). It allotted shares to the Government of Singapore, ICICI Prudential Mutual Fund, SBI Mutual Fund and Aditya Birla Sun Life Mutual Fund in his issue.

    HDFC Institutional Equities said that the COVID-19 outbreak has hit the retail malls sector hard. It added that while, in the near term, this has led to asset values correcting 35-40 percent. It believes that we are a vaccine away from normalcy, and it will be a hard road over the next 12-15 months.

  • Gold rate today: Yellow metal rises; Sell on rally for a target of Rs 50,900, analysts say

    Gold prices in India traded higher on the Multi Commodity Exchange (MCX) Tuesday on short-covering amid a subdued trend in international spot prices, but analysts believe the strength in the yellow metal may not sustain.

    At 11:30 am, gold futures for October delivery rose 0.20 percent to Rs 51,373 per 10 grams as against the previous close of Rs 51,269 and opening price of Rs 51,350 on the MCX. Silver futures traded 0.23 percent higher at Rs 65,717 per kg. The prices opened at Rs 65,983 as compared to the previous close of Rs 65,569 per kg. Continue reading 

  • Ajit Mishra of Religare Broking suggests two recommendations from banking and IT sector


    Ajit Mishra says he is more bullish on the banking space. "RBL Bank is one stock which has been witnessing consolidation for almost 2 months now. Today, it is trying to surpass the upper band. One can start accumulating the stock at the current levels and add more on dips with a stop loss of around Rs 175 and target of Rs 215-220.”

    The next recommendation is from the IT sector i.e. Tata Consultancy Services (TCS). "The stock has hardly made any movement in the last 10 days and it is in a very narrow congestion zone. With a stop loss of around Rs 2,210, one can initiate fresh longs in the TCS for a target of Rs 2,350 plus,” added Mishra.

  • Stellar month for Adani Enterprises, stocks rises nearly 60% in the last 1 month. 

    Stock Market Highlights: Sensex, Nifty end in green; Tata Motors up 5%, Adani Enterprises rallies over 20%
  • RBI announces special OMO of govt securities of Rs 20,000 crore


    The Reserve Bank of India (RBI) on Tuesday announced that it will conduct simultaneous purchase and sale of government securities under Open Market Operation (OMO) for an aggregate amount of Rs 20,000 crore in two tranches of Rs 10,000 crore each.

    The auctions will be conducted on August 27, 2020, and September 03, 2020.

    On August 27, the RBI would be selling four securities totalling Rs 10,000 crore and will be purchasing four securities of the same amount, the central bank said.

    "The securities for the second tranche auction on September 03, 2020 will be announced separately," RBI added.

    The Reserve Bank further said it will continue to monitor evolving liquidity and market conditions and take measures as appropriate to ensure the orderly functioning of financial markets.

    The simultaneous purchase and sale of government securities programme involves purchasing government securities of longer maturities and selling equal amount of securities of shorter maturities. (Inputs from PTI)

  • RBI FY20 annual report: Banks took 24 months on average to detect frauds


    The total cases of frauds (involving  Rs 1 lakh and above) reported by banks/financial institutions increased by 28 percent by volume and 159 per cent by value during 2019-20, according to the Reserve Bank of India annual report. The date of occurrence of these frauds are, however, spread over several previous years, the report said.

    Frauds have been predominantly occurring in the loan portfolio (advances category), both in terms of number and value. There was a concentration of large value frauds, with the top fifty credit-related frauds constituting 76 per cent of the total amount reported as frauds during 2019-20, the annual report said. Read more

  • Airtel's Sunil Mittal hints at mobile services rate hike

    Bharti Airtel founder and Chairman Sunil Bharti Mittal on Monday hinted at an increase in mobile services rates while stating that the average revenue per user is expected to cross Rs 200 in the next six months. He said 16 GB data consumption a month for Rs 160 is a tragedy. "You either consume 1.6 GB of capacity per month either at this price point or you may prepare to pay a lot more. We are not wanting $50-60 like the US or Europe but certainly $2 for 16 GB a month is not sustainable," Mittal said at an event. He said that ARPU of Rs 300 is required to make industry sustainable with lower end still paying Rs 100 a month. More here

  • Allcargo Logistics shares locked in 20% upper circuit on delisting plan

    Shares of Allcargo Logistics were locked in the upper circuit band of 20 percent at Rs 130.60 on Tuesday after the company informed exchanges that its promoters intend to delist the equity shares from both the exchanges. In its exchange filing, the company said that the promoters plan to buy the remainder of the public shareholding and delist all the shares. The company will hold a board meeting on August 27, to consider the delisting proposal and also appoint a merchant banker, added the filing. More here

  • RBI Annual Report | Private consumption is expected to lead recovery when it takes hold going forward. Shock to consumption is severe; it will take quite some time to mend, regain pre-COVID momentum

    Stock Market Highlights: Sensex, Nifty end in green; Tata Motors up 5%, Adani Enterprises rallies over 20%
  • RBI Annual Report | RBI says upticks that appeared in May, June appear to have lost strength in July, August due to reimposition of stricter lockdowns.

    Stock Market Highlights: Sensex, Nifty end in green; Tata Motors up 5%, Adani Enterprises rallies over 20%
  • Jaikishan Parmar, Sr. Equity Research Analyst, Angel Broking Ltd.

    LIC Housing Finance reported mixed set of numbers for Q1FY21. AUM increase 6% YoY and steady QoQ, PAT jumped by 34% to Rs.817.48 crore. On moratorium front, Individual Home Loans under moratorium accounted for 16% an Approximately 25% of the Company’s total loans under management are in moratorium as of June 30, 2020. NII increase 3% YoY ted below AUM growth primarily owing to compression in NIM. Opex increase by 36%, however, lower provision cost has helped LIC housing to report PAT jump of 34% YoY. Considering the current situation provision taken in Q4FY20 and Q1FY20 is much lower than expected. Currently, LIC Housing trades at 0.75x of TTM Networth which is lower compared to the historical average. Considering lower valuation and not much negative in result stock could see positive movement for midterm.

  • Morgan Stanley's Jonathan Garner joins us on CNBC-TV18, says outflows from emerging markets have reduced now

    Stock Market Highlights: Sensex, Nifty end in green; Tata Motors up 5%, Adani Enterprises rallies over 20%
  • LIC Housing Finance shares jump 11% on strong Q1 earnings

    The share price of LIC Housing Finance Ltd (LICHFL) rallied over 11 percent in the early trade on Tuesday after the company reported a 34 percent jump in its net profit to Rs 817.48 crore for the quarter ending June, helped by lower provisioning. The company's net profit in the year-ago period stood at Rs 610.68 crore. Net interest income (NII) during Q1FY21 increased 3.27 percent to Rs 1,220.61 crore as against Rs 1,181.86 crore in the same period of the previous year. Net interest margin (NIM) stood at 2.32 percent as compared to 2.41 percent, YoY. More here

  • Max Financial Services jumps 14% after Axis Bank tweaks deal terms

    Shares of Max Financial Services jumped 14 percent to hit its 52-week high on Tuesday after private sector lender Axis Bank tweaked deal terms of its proposed joint venture with the company. As per the new terms, Axis Bank will now acquire a 17 percent stake as against the 29 percent that was previously agreed upon. The stock rose as much as 13.9 percent to its 52-week high of Rs 626.45 per share on BSE. Meanwhile, Axis Bank rose 2 percent in intra-day deals.

  • Explained: What 'restructuring a loan' means


    In a major relief to corporate and retail borrowers, the Reserve Bank of India has allowed lenders to go for one-time restructuring of loans that are facing stress owing to the COVID-19 crisis. The move is aimed at mitigating risks to financial stability. The restructuring is allowed under the framework issued on June 7, 2019.

    "With the intent to facilitate revival of real sector activities and mitigate the impact on the ultimate borrowers, it has been decided to provide a window...to enable the lenders to implement a resolution plan in respect of eligible corporate exposures without change in ownership, and personal loans, while classifying such exposures as standard, subject to specified conditions," RBI said in its statement. CNBC-TV18's Latha Venkatesh explains what ‘restructuring a loan’ means

  • RBI announces open market operations (OMOs) of Rs 20,000 cr in 2 tranches of Rs 10,000 crore each

    Stock Market Highlights: Sensex, Nifty end in green; Tata Motors up 5%, Adani Enterprises rallies over 20%
  • Future Retail shares jump over 9% after co averts defaults on interest payment


    The share price of Future Retail jumped over 9 percent in the early trade on Tuesday after the company averted a default by making an interest payment of $14 million or about Rs 105 crore to its coupon holders for $500 million senior secured notes. The stock rose as much as 9.23 percent to Rs 124.8 apiece on the BSE. In a regulatory filing on Monday, the Kishore Biyani-led firm informed, “In furtherance to our letter dated 22nd July, 2020, wherein we had informed about the grace period of 30 days for making payment of interest on above USD Notes. Today, we are pleased to inform that the Company has made the payment of said interest for the half year ended for an amount of $14 million on above USD Notes." More here 

  • Market Watch: Shubham Agarwal, CEO & Head of Research, Quantsapp Advisory

    "The first is buy on BEL. 115 strike Call option for the September series can be bought for a target of Rs 10 with a stop loss at Rs 4. Second call is a buy call on Dr Reddy’s Laboratories. 4,500 strike Call option for the September series can be bought for a target of Rs 190 with a stop loss at Rs 135. Lastly, a buy call on HCL Technologies. 700 strike Call option for the September series can be bought for a target of Rs 40 with a stop loss at Rs 26."

  • Phoenix Mills: 1.5 cr shares (10% equity) worth Rs 1,055 cr trade in multiple blocks at avg Rs 667/sh.

    Stock Market Highlights: Sensex, Nifty end in green; Tata Motors up 5%, Adani Enterprises rallies over 20%
  • Market extends Monday's gains with Nifty opening above 11,500 & Sensex up 150 points

    Stock Market Highlights: Sensex, Nifty end in green; Tata Motors up 5%, Adani Enterprises rallies over 20%
  • Opening Bell: Sensex, Nifty open higher led by banks, RIL


    Indian indices opened higher on Tuesday following gains in Asian peers driven by vaccine hopes. Also supporting the mood were statements from both China and the United States saying top-level trade representatives had held constructive talks over the future of the Phase 1 trade deal. On the domestic front, banks and index heavyweights Airtel and RIL contributed the most to the gains. At 9:18 am, the Sensex was up 149 points at 38,948 while the Nifty rose 46 points to 11,510. On the Nifty50 index, Eicher Motors, IndusInd Bank, Hindalco, SBI, and Kotak were the top gainers while UPL, Bharti Infratel, ONGC, Nestle India, and TCS led the losses.

Stock Market Highlights: Indian indices ended in the green despite slipping in the red during the day on Tuesday. Auto and financial stocks contributed the most gains, with Tata Motors up over 5 percent, also the top-gainer of the day. Also, broader markets outperformed the benchmarks, with Nifty Midcap100 and Nifty Smallcap100 indexes closing 0.34 percent and 0.54 percent higher respectively.

Market Movers

Currency

CompanyPriceChng%Chng