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CNBC-TV18 Market Highlights: Market extends gains with Sensex up 580 points, Nifty above 11,780

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CNBC-TV18 Market Highlights: The Indian equity benchmark indices extended gains on Tuesday led by the strong buying in auto and metal index. Global markets also fared well on the back of positive trade talks between US-China and investors looked toward a Federal Reserve rate cut later this week.At 3:30 pm, the Sensex closed higher by 590.45 points or 1.50 percent at 39,840.65 while Nifty50 closed at 11,790.35, higher by 163.20 points or 1.40 percent.Nifty Auto remained the outperformer of the day, rallying 4.40 percent followed by Nifty Metal which rose 3.95 percent.

CNBC-TV18 Market Highlights: Market extends gains with Sensex up 580 points, Nifty above 11,780
  • Closing Bell: Sensex ends 582 points higher; Nifty jumps to 11,786##Closing Bell: Sensex ends 582 points higher; Nifty jumps to 11,786

    The Indian equity benchmark indices extended gains on Tuesday led by the strong buying in auto and metal index. Global markets also fared well on the back of positive trade talks between US-China and investors looked toward a Federal Reserve rate cut later this week.

    At 3:30 pm, the Sensex closed higher by 590.45 points or 1.50 percent at 39,840.65 while Nifty50 closed at 11,790.35, higher by 163.20 points or 1.40 percent.

    Nifty Auto remained the outperformer of the day, rallying 4.40 percent followed by Nifty Metal which rose 3.95 percent.

    Tata Motors, JSW Steel, Tata Steel, YES Bank and Axis Bank were the top gainers of the day while Bharti Infratel, Bharti Airtel, UltraTech Cement, Kotak Mahindra Bank and BPCL were the top laggards. 

  • Bharti Infratel's shares fall to five-year low##Bharti Infratel's shares fall to five-year low

    The share price of Bharti Infratel extended declines for the fourth consecutive session since the Supreme court's rejection of AGR (adjusted gross revenue) definition. The telcos' will have to pay penalty and interest, the Supreme Court had said in its order last week. 

    At 2:57 pm, the stock price was down 9.54 percent to Rs 192 per share on the NSE.

  • NRB Bearings, Tata Coffee's shares rise 5-8% post Q2 earnings## NRB Bearings, Tata Coffee's shares rise 5-8% post Q2 earnings

    Shares of NRB Bearings and Tata Coffee rose 5-8 percent intraday on Tuesday after the company reported their second quarter (Q2FY20) earnings.

    Tata Coffee registered an 11.2 percent jump in its Q2 profit at Rs 40.1 crore versus Rs 36 crore in the same quarter last fiscal. NRB Bearings' Q2 net profit was at Rs 6.4 crore versus Rs 34.9 crore and revenue was at Rs 193 crore versus Rs 258.6 crore YoY.

  • YES Bank's shares surge over 9%##YES Bank's shares surge over 9%

    The stock price of YES Bank surged over 9 percent on Tuesday amid reports that the company is mulling way to raise funds. At 1:59 pm, the stock was up 8.04 percent at Rs 59.15 per share on the NSE while in intraday, the shares jumped 9.40 percent at Rs 59.90. The stock advanced 23 percent in three days.

  • Nifty50 Sectoral Indices: All sectors remain in the green##Nifty50 Sectoral Indices: All sectors remain in the green

    All Nifty50 sectoral indices were trading in the green on Tuesday with Nifty Metal as the best-performing index as it rose over 4 percent. Nifty Auto was the second-best performing index, surging 3.7 percent on the back of strong gains in Tata Motors.

    CNBC-TV18 Market Highlights: Market extends gains with Sensex up 580 points, Nifty above 11,780
  • BSE Heatmap Update: 27 out of 30 BSE stocks trade in green##BSE Heatmap Update: 27 out of 30 BSE stocks trade in green

    At 1:30 pm, 27 out of 30 BSE stocks were trading in green and only 3 remained in the red including Power Grid, Kotak Mahindra Bank and Bharti Airtel.

    CNBC-TV18 Market Highlights: Market extends gains with Sensex up 580 points, Nifty above 11,780
  • Saudi Aramco to come up with its IPO##Saudi Aramco to come up with its IPO

    According to the sources in Reuters, Saudi Aramco is targeting to kick off it's initial public offering (IPO) on November 3. The state oil giant working is towards an announcement for the proposed float this Sunday, said the sources.

  • Afternoon Session: Market extends gains, Nifty above 11,750##Afternoon Session: Market extends gains, Nifty above 11,750

    The Indian market continued to trade in the green around noon on Tuesday with the Sensex trading 447.29 points higher at 39,697.49 at 12:33 pm and the Nifty at 11,756.06, up 128.35 points. 

    Nifty Metal remained the best-performing sector, up 3.66 percent followed by Nifty Auto which was up 3.22 percent. Nifty FMCG was the only sectoral index trading in the red.

    Tata Motors, Tata Steel, YES Bank, JSW Steel, and Vedanta were the top gainers while Bharti Infratel, Bharti Airtel, UltraTech Cement, Kotak Mahindra Bank, and Power Grid were the top laggards.

  • Reliance Industries hit new record highs##Reliance Industries hit new record highs 

    The stock price of Reliance Industries touched 52-week high on Tuesday after analysts' remained for positive on the company's move to restructure and streamline its telecom and digital businesses.

    At 1:03 pm, the shares were trading higher by 2.87 percent to Rs 1,475.35 per share on the NSE. 

    Here's what brokerages have to say about this stock.

    CLSA 

    Buy call, target at Rs 1,710/share
    Repositioning Jio as a digital major ahead of a potential stake sale
    Indicative OCPS conversion price suggests a value of $65-70 billion for digital business 
    Cleaner structure may be a precursor to stake monetization in the digital business

    Morgan Stanley 
     

    Overweight call, target at Rs 1,469/share
    Recast of telecom/digital biz raises focus on asset monetization & debt reduction
    Cons debt remains unchanged, but platform apps move onto the investor radar
    Clarity on the corporate structure improves & interest capitalization concerns lessen
    Expect recovery in energy earnings after the trough seen in Q2
    Recovery should be slow, but slowing supply should support margins


    Nomura 

    Maintain buy call, target at Rs 1,565/share
    New subsidiary positioned as a digital services platform
    As part of restructuring, Jio’s liabilities will be transferred to co’s standalone B/S
    In an upside scenario, Jio’s valuation could be higher at $60-70 billion
    Balance sheet deleveraging remains a key theme
    New structure should increase investors’ confidence in RIL 


    Citi Research

    Buy rating, target raised to Rs 1,645 from Rs 1,500/share
    New subsidiary created for holding all digital assets
    The reorganization has no implications for cons of net debt 
    Management expects the simplified structure to better leverage Jio’s 355 million mobile sub base 
    Simplified structure to help facilitate a strategic investment
    Co could be looking at not-so-distant timelines for unlocking value in Jio

  • These stocks touched 52-week high on Oct 29##These stocks touched 52-week high on Oct 29

    Reliance Industries, ICICI Bank, Granules India, GlaxoSmithKline Pharmaceuticals, Pfizer and SBI Life Insurance Company are among the 69 companies that hit their 52-week highs on BSE so far on October 29.

  • GVK Power & Infrastructure hits upper circuit##GVK Power & Infrastructure hits upper circuit

    GVK Power's shares hit the upper circuit on Tuesday after three global firms agreed to invest in the company. 

    At 12:07 pm, the stock was trading 5 percent lower to Rs 363.80 per share on the NSE.

    Three global firms i.e. GVK Airport Holdings, Abu Dhabi Investment Authority and National Investment & Infrastructure Fund.

    These three global firms have agreed to invest Rs 7,614 crore in the company’s airport business as the company looks to retire debt.

  • Marico extends fall, shares drop over 7%##Marico extends fall, shares drop over 7%

    The share price of Marico extended declines for the second consecutive session on Tuesday. The stock fell over 7 percent to Rs 363.80 per share on the NSE after the company's earnings missed estimates.

    In intraday, the stock plunged 7.35 percent at Rs 362.25. 

    The company's Q2 revenue came in flat at Rs 1,829 crore. Net profit during the quarter went up 16.5 percent YoY at Rs 247 crore. 

    EBITDA margin improved to 19.3 percent from 16.6 percent last year. 

  • In an exclusive interview to CNBC- TV18, Kishore Biyani of Future Group says that Diwali sales picked up later than expected##In an exclusive interview to CNBC- TV18, Kishore Biyani of Future Group says that Diwali sales picked up later than expected

    Kishore Biyani of Future Group said, "To save 600-650 crore on lease expenses by taking Future Enterprises assets into future retail. I don't think Future Group needs to give more discounts for further sales."

    He further says that Onam onwards the sales have been good. Diwali sales picked up later than expected, and food & fashion verticals have done well.

  • Adani Enterprises signs MoU with US-based co Digital Realty##Adani Enterprises signs MoU with US-based co Digital Realty

    In a strategic move to accelerate its foray into the data center domain, the Adani Group (“Adani”), a $13 billion integrated business conglomerate in India, today announced it is partnering with San Francisco-based Digital Realty.

    They will jointly evaluate developing and operating data centers, data center parks and cultivating undersea cable provider communities of interest across India.

    At 11:09 am, the share price of Adani Enterprises was trading 2.1 perent higher to Rs 187.25 per share on the NSE.

  • Bharti Infratel's shares plunged  over 8 percent after SC denied AGR's definition##Bharti Infratel's shares plunged  over 8 percent after SC denied AGR's definition

    The stock price of Bharti Infratel plunged over 8 percent on Tuesday after the Supreme Court  ruled in favour of the government on the AGR (adjusted gross revenue) issue,

    At 10:42 am, the shares were trading 5.84 percent lower to Rs 199.85 per share on the NSE. In intraday, the stock has plunged 8.13 percent at Rs 193.60.

    The government and the telecom sector were locked in a fight over the definition of AGR. 

    Bharti Airtel said it was ‘disappointed’ by the verdict, which will ‘further weaken the viability of the sector as a whole.’

    “We are disappointed by the verdict of the Hon’ble Supreme Court…This decision has come at a time when the sector is facing severe financial stress and may further weaken the viability of the sector as a whole,” an Airtel spokesperson said in a statement Thursday.

  • Tata Motors' share price rallies 16% post Q2 earnings##Tata Motors' share price rallies 16% post Q2 earnings

    The share price of Tata Motors rallied 16 percent intraday on Tuesday ever since the auto company reported its July-September earnings.

    At 10:10 am, the stock price was 14.12 percent higher to Rs 168.55 per share on the NSE while in intraday, the shares rallied 16.04 percent at Rs 171.40. In the last 3 trading sessions, the stock has jumped 32.7 percent.

    Homegrown auto major on Friday reported a consolidated net loss of Rs 187.7 crore for the quarter ended September 30, hit by subdued demand for its vehicles in the domestic market. The company had posted a loss of Rs 1,009.49 crore in the same period of 2018-19.

    Total revenue during the period under review stood at Rs 65,431.95 crore as against Rs 71,981.08 crore in the year-ago period, Tata Motors said in a regulatory filing.

    British arm Jaguar Land Rover (JLR) reported a pre-tax profit of 156 million pounds, 246 million pounds better year-on-year, it added.

    "JLR has returned to profitability and revenue growth. This is a testament to the fundamental strength of our business, our award-winning products, new technologies, and operating efficiencies," JLR Chief Executive Ralf Speth said.

  • Earnings Tomorrow: Ramco Cements, Tata Chemical and 29 others to report their Q2 earnings tomorrow##Earnings Today: Ramco Cements, Tata Chemical and 29 others to report their Q2 earnings tomorrow

    Around 30 companies will report their Q2 earnings tomorrow. The big ones in line are Ramco Cements, Tata Chemical, Tata Global Beverages, and CONCOR.

    Others in the list are: Indoco Remedies, Balaji Amnies, Capline Point Lab, Graphite India, United Bank of India, Welspun Enterprises, Sonata Software, RPG Life sciences, Ramco Systems, Ramco Industries, Quess Corp, PTC India, Phillips Carbon Black, Heritage Food, IFB Industries, India Nippon Electricals, International paper, JK Tyre & Industries, JP Power Ventures, Lakshmi Machine Works, MPS, Nava Bharat Ventures, OnMobile Global, CreditAccess Grameen, Fortis Malar Hospitals, Mangalam Organics, Mishra Dhatu and Shriram Asset Management.

  • Opening Bell: Market opens flat, Nifty hovers around 11,630##Opening Bell: Market opens flat, Nifty hovers around 11,630

    The Indian market opened flat on Tuesday tracking gains in the global markets.  Tata Motors continued to surge since the release of its Q2 earnings. 

    Nifty Auto remained the best-performing sector, rising 1.65 percent led by Tata Motors, which is up over 7 percent intraday.

    Tata Motors, Tata Steel, M&M, Cipla and France remained the top-gainers of the Nifty50 index while Bharti Airtel, YES Bank, Nestle India, Bharti Infratel and Coal India were the top laggards. 

  • Bharti Airtel defers to announce Q2 results on account of AGR verdict##Bharti Airtel defers to announce Q2 results on account of AGR verdict

    Telecom major Bharti Airtel on Tuesday deferred announcing July-September earnings on account of the AGR verdict by the Supreme Court. The company said that more clarity is needed on the AGR matter 

    Bharti Airtel approached the department of telecom by Supreme Court., and will request the DoT support to deal with adverse outcomes.

  • Here's the list of stocks that are in focus going into trade today##Here's the list of stocks that are in focus going into trade today

    On October 29, the Indian market will open after an extended Diwali holiday. The stocks that likely remain to be in the limelight today are ICICI Bank, Reliance Industries, Tata Motors, M&M, telecom stocks along with others. 

    CNBC-TV18 Market Highlights: Market extends gains with Sensex up 580 points, Nifty above 11,780
  • Top brokerage calls for October 29: CLSA upgrades Tata Motors; Nomura, CLSA, Citi maintain buy on Reliance Industries##Top brokerage calls for October 29: CLSA upgrades Tata Motors; Nomura, CLSA, Citi maintain buy on Reliance Industries

    Most brokerages said State Bank of India (SBI) is a 'buy' after the bank announced an operationally good quarter. ICICI Bank saw strong deposit growth leading to 'buy' or 'overweight' calls from most brokerages. 

    Citi Research raises target price on Reliance Industries while others maintain 'buy' calls. Read the brokerage calls article here.

  • Here is a list of some of our late evening breaks you may have missed##Here is a list of some of our late evening breaks you may have missed

    1. Trouble at Infosys and disclosure dilemma: There is no straightjacket formula in place: As events unfold, Infosys, once India’s IT dream, is at the helm of public and regulatory scrutiny for whistleblower complaints alleging unethical practices   adopted by C-Suite employees, material accounting irregularities and withholding of information relating to financials and commercial deals from auditors and Infosys board. Read the whole article here.

    2. Commerce ministry, CBIC discuss fiscal sops linked to job creation, investments: Two key economic departments of the government are discussing a set of policy moves, which if approved, could lead to more fiscal sops and ease of payment procedures for factories and enterprises. Here's a brief explanation of the recommendations.

  • Here is what happened in the world while you were sleeping##Here is what happened in the world while you were sleeping

    Alright, let us prep you quickly with everything that you should know before the market opens.

    The Indian market is expected to open positive on Tuesday tracking strong gains in the global markets after US-China trade deals reflected the positive outcome.


    US markets: The S&P 500 hit a record high on Monday, while the Nasdaq fell just short of its lifetime high touched in late July as a more civil tone between the United States and China lifted hopes for a possible trade deal and investors looked toward a Federal Reserve rate cut later this week.

    Crude Oil: Oil prices edged lower in quiet trade on Tuesday as concerns about slower economic growth overshadowed signs of a thawing in the trade war between Washington and Beijing, while investors awaited U.S. inventory data.

    To read all about it: check out this article- 10 Things To Know Before The Opening Bell On October 29

  • A quick catchup on the markets- Indian markets ended higher on Friday##A quick catchup on the markets- Indian markets ended higher on Friday

    First up, here is a quick catchup of what happened in the markets on Friday.

    The benchmark indices, the BSE Sensex and NSE Nifty50, ended Friday's trading session with gains amid mixed domestic cues. TCS remained the top-performer of the day, rising 2.06 percent higher while HDFC was down 1.87 percent. Nifty Bank settled 0.99 percent higher. So far, the index has gained over 8 percent.

    On Friday, BSE Sensex ended 37.67 points higher, or 0.10 percent, at 39,058. The NSE Nifty50 ended with gains of over just a point at 11,583.90.If you are interested, you can check out the full article here

  • Good morning, readers! This is Mousumi Paul. I am a copy editor at CNBCTV18.com.

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    If you are an investor, here is wishing you a great trading day.

    If you are in need of some inspiration, here is this great quote from Warren Buffett to get you started. Good luck!

    CNBC-TV18 Market Highlights: Market extends gains with Sensex up 580 points, Nifty above 11,780
CNBC-TV18 Market Highlights: The Indian equity benchmark indices extended gains on Tuesday led by the strong buying in auto and metal index. Global markets also fared well on the back of positive trade talks between US-China and investors looked toward a Federal Reserve rate cut later this week.
At 3:30 pm, the Sensex closed higher by 590.45 points or 1.50 percent at 39,840.65 while Nifty50 closed at 11,790.35, higher by 163.20 points or 1.40 percent.
Nifty Auto remained the outperformer of the day, rallying 4.40 percent followed by Nifty Metal which rose 3.95 percent.