Davos-2022
Davos-2022
Davos-2022
Davos-2022
This article is more than 3 year old.

Closing Bell: Sensex slumps 336 points, Nifty ends below 10,850 as ITC, Infosys, HDFC twins, RIL drag

Mini

Indian shares slipped sharply in the last hour of trade dragged by largecap stocks. The Sensex slipped by 336 points, or 0.92 percent, to settle at 36,108 at close, while the Nifty was at 10,831.50, down by over 91 points, or 0.84 percent, dragged by index heavyweight ITC and HDFC twins. ITC shares slipped after investors took to profit-booking as the cigarette-hotel-FMCG major announced its Q3 results, with margins showing signs of pressure. Midcaps also ended in the red, but fared slightly better than their frontline peers. Here are the main highlights from the stock markets today:

Closing Bell: Sensex slumps 336 points, Nifty ends below 10,850 as ITC, Infosys, HDFC twins, RIL drag
  • ITC ends 4% lower after third quarter results, Yes Bank, Sun Pharma gain##ITC ends 4% lower after third quarter results, Yes Bank, Sun Pharma gain

  • IndiGo net profit dips more than 70% for the third quarter compared to the same quarter last year##IndiGo net profit dips more than 70% for the third quarter compared to the same quarter last year

  • Closing Bell: Sensex, Nifty end sharply lower as ITC drags indexes##Closing Bell: Sensex, Nifty end sharply lower as ITC drags indexes

    The Sensex slipped by 336 points, or 0.92 percent, to settle at 36,108 at close, while the Nifty was at 10,831.50, down by over 91 points, or 0.84 percent. The Nifty MidCap ended lower by 0.11 percent. The advance-decline ration on the NSE stood at 825 stocks advancing against 1263 declines. On the BSE, it was at 1075 advances against 1476 declines. Nifty FMCG slumped nearly 2 percent, leading the 37 declining sectors. Nifty PSU Banks, BSE FMCG and BSE Consumer Durables were other major lagging sectors. Nifty Media, Nifty Pharma and BSE Metal were among 6 advancing sectors, rising by up to a percent. Among index gainers, Sun Pharma, Yes Bank, Zee Entertainment, Tata Steel, Wipro, Hindustan Unilever and Bajaj Finance surged between 0.75 percent and 3 percent. ITC slipped 4.3 percent, while other index losers included Grasim, Indiabulls Housing Finance, Titan, Infosys, M&M, Power Grid, SBI, falling between 1.3 percent and 2.76 percent.

  • Can Fin Homes Q3 net profit up 21.4% at Rs 80.3 crore##Can Fin Homes Q3 net profit up 21.4% at Rs 80.3 crore

  • Raymond Group reports 30% rise in consolidated net profit##Raymond Group reports 30% rise in consolidated net profit


    Diversified Raymond Group reported an increase of 30 percent in consolidated net profit at Rs 39.95 crore for the third quarter ended December 2018. The company had posted a net profit of Rs 30.71 crore in October-December period a year ago. Total income during the reported period stood at Rs 1,705.68 crore, registering an increase of 12.69 percent from the December quarter of 2017-18. Raymond's total expenses were at Rs 1,639.03 crore as against Rs 1,471.38 crore in the year-ago period. Revenue from the textile segment stood at Rs 847.73 crore, up 10.32 percent from Rs 768.38 crore earlier.

  • ITC erases all gains as Q3 margin disappoints##ITC erases all gains as Q3 margin disappoints

    Shares of ITC erased their gains after the company today reported weak operating performance for the quarter ended December. Shares of ITC were down 2.31 percent at Rs 283.05 on the NSE at 2.48 pm.

  • ITC Q3 profit up 4%, margin misses estimates##ITC Q3 profit up 4%, margin misses estimates


    Cigarette-hotel-to-FMCG major ITC has reported a 4 percent on year growth in profit at Rs 3,209 crore, which was on expected lines but margin missed estimates. Profit in the corresponding quarter of last fiscal stood at Rs 3,090 crore, which included exceptional gain of Rs 413 crore. Revenue from operations in Q3 grew 15 percent year-on-year to Rs 11,227.66 crore, driven by gross across segments.

  • ITC Q3 numbers meets CNBC-TV18 expectations, only EBITDA margin misses the poll by 150 bps##ITC Q3 numbers meets CNBC-TV18 expectations, only EBITDA margin misses the poll by 150 bps

  • ITC posts Rs 3,209 crore net profit, share marignally low##ITC posts Rs 3,209 crore net profit, share marignally low


    ITC third quarter net profit comes in at Rs 3,209 crore against CNBC-TV18 poll of Rs 3,077 crore. Shares were marginally lower by 0.35 percent, trading at Rs 288.75 on the BSE.

  • Zee Entertainment up 3% as ICICI Securities upgrades rating to "add"##Zee Entertainment up 3% as ICICI Securities upgrades rating to "add"


    Shares of Zee Entertainment Enterprises snapped a five-day losing streak to rise 3 percent as brokerage firm ICICI Securities upgraded rating on the stock to "add" from "hold". It believes the new norms on television channel tariffs will benefit the company. Given its high number of channels, the company is well placed to aggressively price packages lower than peers in a bid to protect market share, the brokerage firm said. Despite this aggressive pricing, Zee Entertainment's revenues are likely to be protected as it has a wide subscription base and variety of channels that are in demand, it said. ICICI Securities has retained Zee Entertainment's price target of Rs 589. Shares quoted at Rs 436.25 on the NSE, up by 2.6 percent at 2.20 pm. (Cogencis)

  • Radico Khaitan reports Q3 net profit of nearly 49%##Radico Khaitan reports Q3 net profit of nearly 49%

  • Yes Bank extends gains on hope of news about new CEO##Yes Bank extends gains on hope of news about new CEO


    Shares of Yes Bank extended gains for the second trading session, and were up 3.1 percent at Rs 198.15 as investors hoped for some positive news about the new chief executive officer, said dealers. More than the earnings on Thursday, some "qualitative" news flow on the new appointment is eyed, which will end the uncertainity over the management of the bank, said an analyst. Co-founder Rana Kapoor's term as managing director and chief executive officer ends this month, and a smooth succession would lead to more buying in stocks, said dealers. For October-December, the bank's net profit is seen down 2.3 percent on year but up 9 percent on quarter at Rs 10.52 billion. Any number above this will be a big positive for the stock, the analyst said. So far today, over 24 million shares of Yes Bank were traded on the NSE versus a daily average of over 20 million shares. (Cogencis)

  • JKumar Infraprojects up 1.4%, Sensex, Nifty flat##JKumar Infraprojects up 1.4%, Sensex, Nifty flat


    J Kumar Infraprojects has received an order from Gujarat Metro Rail Corporation (GMRC) Limited for construction of elevated viaduct from Vastral Gam to Apparel Park to Ramp Start in Reach-1 (East -West Corridor) for Rs 255 crore, the company said in a BSE filing. Shares quoted at Rs 119.65, up by 1.4 percent on the BSE at 1.35 pm. Meanwhile, the Nifty was down by 8 points to trade at 10,915, while the Sensex was lower by 44 points to trade at 36,401.

  • JMC Projects India surges 2.2% on Rs 507 crore order##JMC Projects India surges 2.2% on Rs 507 crore order


    Civil engineering and construction firm JMC Projects (India) said it has secured orders worth Rs 507 crore in the domestic market. The company has received residential and commercial projects in South India totalling Rs 507 crore, JMC Projects said in a BSE filing. Shares quoted at Rs 91.05, up by 2.19 percent on the BSE at 12.50 pm. 

  • Market update: Sensex, Nifty flat, midcaps outperform##Market update: Sensex, Nifty flat, midcaps outperform

    The Nifty has moved in a tight range of less than 40 points, trading at 10,938 at 12.20 pm, up by 15 points. The 50-share broader NSE index started at 10,931. The Sensex traded 15 points up at 36,459, after opening at 36,494. ICICI Bank, ITC, Hindustan Unilever and Sun Pharma shares batted for the bulls, while HDFC, Infosys and Tata Consultancy Services dragged indexes. Broader markets outperformed with the Nifty MidCap up by nearly half a percent. The BSE MidCap was up by 0.41 percent. In midcap space, DHFL, Nalco, Reliance Infra, Ajanta Pharma, PFC, Cholamandalam Finance, Jindal Steel, IDFC First, Mindtree were supporting the index, while TVS Motor, Glenmark Pharma, United Breweries, Bharat Forge capped gains. Among shares, Zee Entertainment, Sun Pharma, Yes Bank, Wipro, Hindustan Unilever, Tata Steel and Bajaj Finance were among top index gainers, rising between a percent and 3.2 percent. Tata Consultancy Services, Infosys, Power Grid Corp, IndusInd Bank, HDFC and Power Grid Corp, fell between half a percent and a percent.

  • Vodafone Idea Clarifies | Rs 4,500 crore amount reported in news w.r.t exit penalty are incorrect##Vodafone Idea Clarifies | Rs 4,500 crore amount reported in news w.r.t exit penalty are incorrect

  • Kotak Equities raises price target for Asian Paints by 7%##Kotak Equities raises price target for Asian Paints by 7%


    Kotak Institutional Equities has raised its price target for shares of Asian Paints by 7 percent to Rs 1,225, as it believes the fall in crude oil prices will lead to raw material prices declining, which in turn will improve earnings. It has raised the estimates for Asian Paints' earnings per share by 2-3 percent for the next three years, saying the demand environment remains robust and one must not read too much into weakness in margins. A jump in costs due to commissioning of a new plant and other capacity expansion plans could keep margins in check, the brokerage house said. It has maintained a "reduce" rating on the stock, as it believes current valuations factor in most positives. Shares of Asian Paints quoted at Rs 1,414.10, up by 0.51 percent on the NSE at 12.02 pm. 

  • Inox Wind up on 501.6-MW wind project from Adani Green##Inox Wind up on 501.6-MW wind project from Adani Green


    Shares of Inox Wind gained nearly 5 percent in early trade on Wednesday, following news of the company bagging a 501.6-MW wind power project from Adani Green Energy. The stock quoted 1.4 percent higher at Rs 72.50 at 11.50 am on the BSE. The project from Adani Green is to be executed over the next 15 months at Kutch in Gujarat.

  • Hindustan Unilever shares jump 2% on optimism of strong rural demand, volume growth, Sense, Nifty flat##Hindustan Unilever shares jump 2% on optimism of strong rural demand, volume growth, Sense, Nifty flat


    Shares of Hindustan Unilever rose almost 2 percent on hope of rural demand and volume growth of the company following robust earnings of Asian Paints. Asian Paints reported strong volume growth for the quarter ended December helping dispel investors' concerns over rural demand. Hindustan Unilever reported 10 percent on year growth in sales volume in third quarter ended on December 31, 2018, the fifth consecutive quarter of double-digit volume growth for the company. At 11.38 am, shares of Hindustan Unilever were up 1.83 percent at Rs 1,782 on the BSE. Meanwhile, the Sensex was trading at 36,443, down by just a point, while the Nifty was up by 3 points at 10,926.

  • NCLAT directs NCLT Ahmedabad to pass orders in Essar Steel on January 31##NCLAT directs NCLT Ahmedabad to pass orders in Essar Steel on January 31

  • Glenmark Pharma gets USFDA nod for generic version of Zytiga tablets, shares weak##Glenmark Pharma gets USFDA nod for generic version of Zytiga tablets, shares weak

    Glenmark Pharmaceuticals has been granted tentative approval by the United States Food & Drug Administration (US FDA) for Abiraterone Acetate Tablets USP, 250 mg, a generic version of Zytiga 1 tablets, the company said in a release. Shares traded down by 0.82 percent, quoting at Rs 650.75 at 10.45 am on the BSE.

  • ICICI Prudential Life Insurance Co slumps 10%, Jefferies downgrades##ICICI Prudential Life Insurance Co slumps 10%, Jefferies downgrades

    Shares of ICICI Prudential Life Insurance Company ltd fell nearly 10 percent in trade on Tuesday as investors took to selling the stock after weak third quarter results. At 10.21 am, shares quoted at Rs 311.35, down by 9.75 percent on the NSE. The stock has lost more than 11 percent in the last three days. The last one year return on the stock is negative and it has lost 28 percent. The company reported a 34 percent decline in its standalone net profit to Rs 296.77 crore in the third quarter ended December 31, 2018. Jefferies downgraded ICICI Prudential Life Co. to 'underperform' from 'hold' as the third quarter results came in much worse than anticipated. The brokerage revised its price target to Rs 285 from a previous Rs 350. 

  • Sun Pharma slips 1.3% on reports of Sebi probe, Sensex, Nifty lower##Sun Pharma slips 1.3% on reports of Sebi probe, Sensex, Nifty lower


    Shares of Sun Pharma slipped by 1.34 percent on the NSE at 10.13 am, trading at Rs 413.35, after reprots that market regulator Sebi is probing the company for failing to make accurate disclosures, financial irregularities and governance lapses. Benchmark indices continue to trade weak with the Nifty lower by nearly 8 points at 10,915. The Sensex slipped by 34 points to trade at 36,410.

  • Yes Bank among top gainers ahead of results tomorrow, IT, auto stocks dip##Yes Bank among top gainers ahead of results tomorrow, IT, auto stocks dip

  • Opening Bell: Market opens on a tepid note, Nifty starts above 10,900, midcaps outperform##Opening Bell: Market opens on a tepid note, Nifty starts above 10,900, midcaps outperform


    The Sensex traded more than 20 points lower, or 0.06 percent, at 36,424 in initial trade. The Nifty started above 10,900, lower by 4 points, or 0.04 percent, at 10,918.70. The Nifty MidCap outperformed, trading up by 0.12 percent. Among shares, Yes Bank surged 1.43 percent, while Zee Entertainment was up by a percent. Wipro, Indiabulls Housing Finance and BPCL gained nearly a percent. Among losers, Infosys shares slipped 0.91 percent, while Tata Consultancy Services, M&M, Kotak Bank and Tata Motors declined between 0.39 percent and 0.57 percent.

  • Rupee opens higher at 71.17 per US dollar, Sensex, Nifty in the green in pre-open##Rupee opens higher at 71.17 per US dollar, Sensex, Nifty in the green in pre-open

    The Indian rupee opened at 71.17 per US dollar, a gain of 27 paise over its previous close. The rupee had skidded by 16 paise on Tuesday — its third straight session of loss — to close at 71.44 against the US dollar amid strengthening of the greenback and heavy selling in domestic equities. The rupee has now lost 41 paise in three days. At 9.08 am, the Sensex was almost 50 points up, or 0.14 percent, at 36,494, while the Nifty was at 10,931, up by just 8.25 points, or 0.08 percent. The Nifty MidCap settled by 0.10 percent.

  • Here's what market experts Ashwani Gujral, Sudarshan Sukhani and Mitessh Thakkar are recommending today##Here's what market experts Ashwani Gujral, Sudarshan Sukhani and Mitessh Thakkar are recommending today


    Ashwani Gujral of ashwanigujral.com

    Sell Mahindra & Mahindra with a stop loss of Rs 714, target of Rs 690.

    Sell Tata Steel with a stop loss of Rs 462, target of Rs 440.

    Sell Reliance Infra with a stop loss of Rs 285, target of Rs 270.

    Buy Titan Company with a stop loss of Rs 975, target of Rs 1000.

    Buy Aurobindo Pharma with a stop loss of Rs 780, target of Rs 810.

    Sudarshan Sukhani of s2analytics.com

    Buy Dabur India with stop loss at Rs 427 and target of Rs 445.

    Buy Bajaj Finance with stop loss at Rs 2580 and target of Rs 2670.

    Buy Piramal Enterprises with stop loss at Rs 2280 and target of Rs 2400.

    Buy Hexaware Tech with stop loss at Rs 326 and target of Rs 340.

    Sell Chennai Petroleum with stop loss at Rs 265 and target of Rs 254.

    Mitessh Thakkar of mitesshthakkar.com

    Buy Amara Raja Batteries with stop loss of Rs 770 and target of Rs 805.

    Buy Dr Reddy's Labs with a stop loss of Rs 2619 and target of Rs 2700.

    Buy Wipro with a stop loss below Rs 340 for target of Rs 360.

    Sell Jubilant Foodworks with a stop loss of Rs 1190 and target of Rs 1130.

  • Here's how Nomura and Axis Capital rates Shree Cement##Here's how Nomura and Axis Capital rates Shree Cement

  • Budget 2019: These are the expectations on personal and corporate taxes##Budget 2019: These are the expectations on personal and corporate taxes


    The Narendra Modi government is due to present the interim budget on February 1. Here are some expectations on the personal and corporate tax fronts.

    Read full report here

  • Unconditional cash transfer to farmer better option: SBI Report##Unconditional cash transfer to farmer better option: SBI Report

    The government should opt for the unconditional cash transfer to farmers to alleviate agrarian distress rather than Universal Basic Income (UBI) scheme, the SBI said in a report on Tuesday. At present, it may not be feasible to initiate Rythu Bandhu Scheme on national level as land data in several states, including Jharkhand, Bihar, Gujarat, and Tamil Nadu are yet to be digitised, the SBI said in its 'Ecowrap' report.

    Read full report here

Market Movers

Currency

CompanyPriceChng%Chng