Here's a snapshot of major June quarter results announced so far##Here's a snapshot of major June quarter results announced so far
Nestle India Q2 net profit up 50% at Rs 395 cr Vs Rs 263.4 cr (YoY); Nestle India Q2 net profit at Rs 395 cr Vs CNBC-TV18 poll of Rs 382 cr; Nestle India Q2 domestic sales growth at 8% Vs CNBC-TV18 poll of 11-13% growth.
Titan reports Q1FY19 net profit at Rs 349.2 cr Vs CNBC-TV18 Poll of Rs 321 cr; Titan Q1 Jewellery EBIT up 16.1% at Rs 393 Cr Vs Rs 339 Cr (YoY).
VIP Industries Q1 consolidated net profit at Rs 63.3 cr Vs Rs 41 cr (YoY); consolidated revenue up 29.5% at Rs 518 cr Vs Rs 400 cr (YoY); VIP Industries Q1 consolidated EBITDA up 56.9% at Rs 96.2 Cr Vs Rs 61.3 Cr (YoY); consolidated EBITDA margin at 18.6% Vs 15.3% (YoY).
Markets at close: Sensex, Nifty end over 1%, financials contribute over 50% of gains##Markets at close: Sensex, Nifty end over 1%, financials contribute over 50% of gains
The BSE Sensex and the NSE Nifty 50 each ended over a percent's gain on Friday, posting biggest intra-day gains in a month, led by a broad-based buying spree, particularly in metal, private bank and NBFC stocks like Indiabulls Housing Finance. Heavyweight shares like ITC, TCS and Reliance Industries also pitched in lending support to indexes. The Sensex settled at 37,556, jumping over 390 points, while the Nifty closed at 11,360, rising over 100 points. Financial stocks alone contributed over 50 percent of Nifty gains. Tata Motors, Hero MotoCorp and HDFC Bank were among top laggards along with Tech Mahindra.
Bank of Maharashtra net loss widened to Rs 1119 crore in April-June quarter##Bank of Maharashtra net loss widened to Rs 1119 crore in April-June quarter
Bank of Maharashtra net loss widened to Rs 1119 crores in April-June quarter, from a Rs 412 crore in the year-ago period as asset quality worsened. Interest earned by the bank in the quareter was Rs 2641 crore, compared with Rs 2745 crore in the previous-year period, while the interest expended fell to Rs 1782 crore from Rs 2052 crore. As on June 30, the bank's gross non-performing asset ratio was 21.18 percent, compared with 19.48 percent a quarter ago, and 18.59 percent a year ago. The net non-performing asset ratio was 12.20 percent, against 11.24 percent a quarter, ago and 12.48 percent year ago. At 3.23 pm, shares of the bank were lower 0.4 percent at Rs 13.35 on the NSE. (Cogencis)
Market update: Sensex, Nifty surge over 1% ahead of close##Market update: Sensex, Nifty surge over 1% ahead of close
Benchmark indexes surged further ahead of close with the Sensex jumping over 382 points, or 1.03 percent, to 37,547.32, while the Nifty breached 11,350 mark, rising to 11,357, rising by 113 points, or 1.01 percent. Midcaps have risen almost a percent, while Bank Nifty is up by 1.22 percent.
Axis Bank shares soar over 5 percent##Axis Bank shares soar over 5 percent
Shares of Axis Bank jumped over 5 percent to Rs 574.15 on the BSE. CNBC-TV18 sources say that Amitabh Chaudhry of HDFC Life is frontrunner for the role of Axis Bank CEO. Other probables are IDBI Bank's B Sriram and another from Kotak Mahindra Bank. Incumbent CEO Shikha Sharma is due to retire this December.
Market update: Sensex nears 37,500, Nifty rises higher##Market update: Sensex nears 37,500, Nifty rises higher
The BSE Sensex surged by 319 points, or 0.86 percent, to 37,484.68 at 2.05 pm, while the Nifty pushed higher, risin by 95 points, or 0.84 percent, to 11,339.40. Markets have advanced higher fuelled by buying in midcaps and smallcaps, while sectoral indices too have participated in the rally. All bank indices have surged higher with Nifty Bank up by 1 percent, PSU Bank 1.5 percent, and PVT Bank 1.27 percent. Heavweight stocks such as Reliance Industries, TCS, HDFC, ITC have all gained around a percent, but HDFC Bank is showing weakness pulling indexes from going further higher and supproted by Hindustan Unilever, Asian Paints, Tech Mahindra.
RCom shares get boost after apex court ruling##RCom shares get boost after apex court ruling
Shares of Reliance Communications were trading at Rs 15.79, or higher by 6.40 percent on the BSE at 1.12 pm. The telecom company's shares hit an over-one-month high of Rs 17 after the Supreme Court allowed it to sell its telecom towers and wireless assets to Reliance Jio Infocomm. The apex court, however, said Reliance Communications will have to honour its commitment to pay Rs 550 crore to Ericsson India by September 30. So far today, more than 133 million shares of the company were traded on NSE compared with the average daily trading volume of 25 million shares.So far in 2018, shares of Reliance Communications have shed 56%.
Private bank shares surge as worst in asset quality seen over##Private bank shares surge as worst in asset quality seen over
Shares of large private sector banks rose today, following revived risk appetite among investors for the sector as most believe that the worst in terms of asset quality issues is over. Private banks largely reported an improvement in asset quality in the quarter ended June, led by ICICI Bank and YES Bank. Shares of YES Bank, IDFC Bank, Kotak Mahindra Bank, ICICI Bank, and Axis Bank rose 1.3-2.6%. At 12.30 pm, the Nifty Private Bank index was up 1.1% at 15,547.80 points. (Cogencis)
Market update: Sensex jumps 275 points, Nifty above 11,320##Market update: Sensex jumps 275 points, Nifty above 11,320
The BSE Sensex was trading higher by 275 points, or 0.74 percent, at 37,440.42 at 12.40 pm, while the Nifty advanced by 80 points, or 0.71 percent, to 11,324.Midcaps trade near 0.9 percent,while Nifty Bank is higher by 0.9 percent.