Closing Bell: Sensex ends 353 points up, Nifty above 11029, Bajaj Finserv, Tata Steel top gainers, Sun Pharma dips 5%##Closing Bell: Sensex ends 353 points up, Nifty above 11029, Bajaj Finserv, Tata Steel top gainers, Sun Pharma dips 5%
The Sensex ended 353 points higher at 37,311 while the broader Nifty50 index surged 103 points to end the day at 11,029. The Nifty Midcap gained nearly a percent. UPL, Bajaj Finserv, Zee, Tata Steel, and Vedanta were the top gainers on the Nifty50 index while Sun Pharma, Indiabulls Housing, Wipro, Dr Reddy’s and Coal India led the losses. All sectoral indices, except Nifty Pharma, were positive for the day.
Only 2 stocks in Nifty Realty index gave negative returns in last 5 years##Only 2 stocks in Nifty Realty index gave negative returns in last 5 years
The real estate sector has been in focus in the past 5 years with Narendra Modi government introducing a number of reforms for the sector. During its first term, the Modi government had introduced major reforms such as Real Estate (Regulation and Development) Act, Goods and Services Tax (GST), Insolvency and Bankruptcy Code and Benami Transactions (Prohibition) Act, in order to support the real estate sector struggling with dwindling sales, high inventory and price stagnation. READ MORE
Only 5 stocks in Rakesh Jhunjhunwala’s portfolio in green so far this year##Only 5 stocks in Rakesh Jhunjhunwala’s portfolio in green so far this year
Benchmark equity indices BSE Sensex and NSE Nifty50 have witnessed heavy selloffs in July on the back of several announcements made by finance minister Nirmala Sitharaman in the Budget 2019, including a hike in the income tax surcharge on FPIs. In July, the Sensex slipped 4.85 percent and the Nifty50 fell 5.69 percent. Amidst all the market volatility, the big bull of Dalal Street Rakesh Jhunjhunwala also feels the pain but continues to invest in quality companies. READ MORE
Bata India eyes 52-week high; here's why brokerages increased target price of the stock##Bata India eyes 52-week high; here's why brokerages increased target price of the stock
Bata India shares trade almost 2 percent higher on Wednesday, just 1.75 percent away from its 52-week high of Rs 1480. The stock has gained over 4 percent in a week and 8.5 percent in a month. Year-to-date, the stock has surged 28.59 percent, while the one-year return on the stock is over 45 percent. Bata India has returned almost 1700 percent return to investors in the last 10 years. Brokerages are positive on the stock in a near-to-medium term as the discretionary consumer company posted robust results in the first quarter ended in June. Bata India reported a 22.5 percent jump in consolidated net profit at approximately Rs 101 crore. It ad reported a profit of Rs 82.41 crore in the April-June quarter in 2018. The footwear major's net sales came in at approximately Rs 883 crore, up nearly 11 percent while EBITDA at Rs 159 crore was up 21 percent year-on-year. READ MORE
Muted wage growth is killing demand and ... well, everything##Muted wage growth is killing demand and ... well, everything
India, the world's fastest-growing large economy, is facing a demand slowdown and sluggish wage growth is one of the key reasons behind it, an analysis by SBI Research showed.
"A substantial decline in wage growth (both rural and urban wages) in recent times resulting in lower household savings has possibly slowed down the growth in real per capita income that is holding back demand," Soumya Kanti Ghosh, chief economic adviser at SBI Research, said in a report on Wednesday. READ MORE
RIL's single-day gain in market cap higher than mcap of 19 Nifty stocks##RIL's single-day gain in market cap higher than mcap of 19 Nifty stocks
The single-day gain in RIL's market cap was larger than the market cap of 19 of the 50 companies in the Nifty index as of August 13. RIL's market cap rose to Rs 808,075.31 crore, just below Rs 825,318.25 crore of Tata Consultancy Services. The market cap of the other 29 companies range between Rs 74,000 crore and Rs 607,000 crore. Mahindra and Mahindra, Tech Mahindra, Vedanta, Hero MotoCorp, Eicher Motors, Tata Steel, Tata Motors and Yes Bank were among the 19 firms, which have below Rs 70,000 crore market cap. READ MORE
J Kumar Infra shares jump after MCA removes it from shell companies list##J Kumar Infra shares jump after MCA removes it from shell companies list
Shares of J Kumar Infra over 10 percent to Rs 145.75 per share after the company said it has received a letter from the Ministry of Corporate Affairs informing that the company's name removed from the list of shell companies. The shares traded 6.5 percent up at Rs 140.45 per share.
Glenmark Pharma declines 8 percent on weak Q1 numbers##Glenmark Pharma declines 8 percent on weak Q1 numbers
Glenmark Pharma touched 52-week low of Rs 385.65, sheds 8 percent on August 14 after company registered fall in its June quarter net profit. The company's Q1FY20 (April-June) net profit declined 53 percent at Rs 109.3 crore against Rs 233 crore in the same quarter last fiscal.
NMDC gains 4% on strong Q1 numbers##NMDC gains 4% on strong Q1 numbers
Share price of NMDC gained 4 percent on the back of strong numbers reported by the company in the quarter ended June 2019. The state-run mining company's Q1FY20 (April-June) net profit was up 20.9 percent at Rs 1,179.3 crore against Rs 975.3 crore in a year ago period.
HDFC Life tanks 7% after Standard Life may have sold Rs 3,145 crore shares##HDFC Life tanks 7% after Standard Life may have sold Rs 3,145 crore shares
Shares of HDFC Life Insurance Company fell 7.5 percent intraday on August 14 after reports suggested that Standard Life may have sold major stake in the company through block deals. About 6.43 crore shares (representing 3.2 percent of total paid-up equity) traded at an average of Rs 486 per share in early trade on August 14. The transaction was worth Rs 3,145 crore. CNBC-TV18 had reported a day earlier that Standard Life would sell 2.5 percent with an upsize option of additional 0.7 percent stake in HDFC Life, the country's largest life insurance company by market capitalisation.