0

0

0

0

0

0

0

0

0

This article is more than 1 month old.

Stock Market Highlights: Sensex ends 145 points higher, Nifty50 at 18,125; ICICI Bank jumps 12%, Axis Bank 4%

Mini

Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 ended a choppy session mildly higher on Monday. Sharp gains in banking and financial services stocks were offset by losses in auto, IT and consumer shares. Broader indices hurt investor sentiment, with the midcap and smallcap gauges falling 1.7 percent and 2.3 percent respectively. Analysts awaited more quarterly earnings reports from India Inc for cues.

Stock Market Highlights: Sensex ends 145 points higher, Nifty50 at 18,125; ICICI Bank jumps 12%, Axis Bank 4%
  • Thank you, readers! That's all from CNBC-TV18.com's live market coverage on October 25. Stay tuned for other updates on our website: CNBCTV18.com.

    You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News

    And on FacebookLinkedInInstagram and Telegram

    Download our mobile app for Android and iOS platforms

  • Rupee gains by 18 paise to 75.08 vs dollar

    The rupee gained by 18 paise to close at 75.08 against the US dollar amid rising oil prices and demand for the greenback from PSUs.

    The rupee can come under pressure goinf forward with Brent crude oil at a striking distance of 2018 highs near $87 per barrel, said Anindya Banerjee, DVP- Currency and Interest Rate Derivatives at Kotak Securities. "If Brent continues to inch higher, with FPIs taking money out of India, the rupee can come under selling pressure. Over this week, focus will be on IPO-related inflow as well. Therefore, we expect a two-way market within an expected range of 74.80-75.40 in the spot market," he said. 

  • Some consolidation expected in banks: Hemang Jani 

    Hemang Jani of Motilal Oswal Financial Services said that after a big outperformance in banks, maybe it is time to see some sort of consolidation. "We may see some cooling off in banking names, which have done so very well in the last, let us say, a couple of weeks, from a short-term perspective. Despite the momentum, we think that it makes sense to kind of be a little watchful about what sort of numbers and upgrades are we going to see from the banks like Axis Bank and State Bank of India, because expectations have really gone up post-ICICI Bank numbers," he said. 

    Jani is positive on the banking because of valuations being comfortable and the quarterly numbers. "But it makes sense to be a little more cautious and guarded rather than going with the flow," he warned.

  • Positive on corporate-linked banks: ICICI Securities' Amit Gupta 

    Amit Gupta, VP and Fund Manager-PMS at ICICI Securities, continues to be positive on corporate-linked stocks. "We believe that after the IL&FS crisis, and after the NPAs increasing to almost 12 percent out of the total base of Rs 100 lakh crore, I think a bottom has been made for this particular segment," he said. 

    "In the last 10 years if you see, they were continuously losing their weight actually in the index, whether it was SBI, Axis Bank or others, and now, we believe that the NPA cycle is possibly behind this and whatever loan is given to the corporate book, 85 percent is already provisioned... If you look at the slippages, the collection efficiency has bounced back because we saw in the COVID time in April-May, again the siippages had increased, but finally, we got the numbers that the collection efficiency has increased back to you know 95 or 98 percent. SBI said Rs 4,800 crore out of total Rs 6,343 crore of slippages were recovered in July and August... It is heartening to see that these stocks which already bottomed out are now are getting the triggers," he said. 

    "Banking is slowly starting now as the capex execution also has already started... I think these are the triggers which are coming in now for the financial services," he added.

  • Sell Colgate-Palmolive, more downside likely: Nischal Maheshwari 

    Nischal Maheshwari of Centrum Broking remains negative on Colgate-Palmolive. "We continue to have a 'sell' on the stock. We continue to believe that there is more way to go down for Colgate-Palmolive," he said. 

    Maheshwari has been negative on Colgate for some time. "They are under pressure from other companies, especially Dabur, which has been gaining market share. Being a single product company, they have not been able to make much headway," he said. 

  • Market At Close | ICICI Bank, Axis Bank, ONGC, Tech Mahindra top gainers; BPCL, Bajaj Finserv, SBI Life, Bajaj Auto top laggards

    Stock Market Highlights: Sensex ends 145 points higher, Nifty50 at 18,125; ICICI Bank jumps 12%, Axis Bank 4%
  • Closing Bell | Sensex rises 145 points to 60,967, Nifty at 18,125 

    The Sensex index rose 145.4 points or 0.2 percent to end at 60,967.1 and the broader Nifty50 benchmark climbed up 10.5 points or 0.1 percent to settle at 18,125.4.

    Gains in banking and financial services stocks were offset by losses in automobile, IT and consumer counters in a choppy session. (Read more on the closing bell)

  • Bank asset quality starting to improve, growth beginning to return: Nischal Maheshwari

    Nischal Maheshwari of Centrum Broking said several banks are beginning to report improvement in asset quality, and growth starting to return. "Banking seems to be turning the quarter at the moment," he said. 

  • Wait for levels below Rs 800 to enter ICICI Bank shares: Centrum Broking's Nischal Maheshwari

    Nischal Maheshwari of Centrum Broking believes ICICI Bank shares have run up quite a bit. "I would wait for a correction to happen and something like below Rs 800 is what we believe is a good price to enter," he said. 

  • Dwarikesh Sugar Q2 | Net profit more than doubles to Rs 39.6 crore, revenue up 21%

    Dwarikesh Sugar posted a net profit of Rs 39.6 crore for the quarter ended September 30, as against Rs 17.7 crore for the corresponding period a year ago. Its revenue rose 21.1 percent to Rs 505.5 crore. 

    The company's EBITDA rose 64.2 percent on a year-on-year basis to Rs 74.7 crore, and the EBITDA margin improved to 14.8 percent, from 10.9 percent in the year-ago period.

    The stock recovered intraday losses to trade sharply higher in late afternoond deals. At 3:25 pm, the stock was up 3.8 percent at Rs 74.5 apiece on BSE.

  • Aditya Birla Sun Life AMC Q2 | Net profit up 38 percent at Rs 173 crore, revenue up 30%

    Aditya Birla Sun Life AMC -- whose shares began their secondary market journey recently -- Net posted a net profit of Rs 173.1 crore for the quarter ended September 30, up 38 percent on a year-on-year basis. 

    Revenue rose 30 percent to Rs 332 crore.

    Aditya Birla Sun Life AMC shares traded one percent lower at Rs 652 apiece on BSE, having declined as much as 3.4 percent to Rs 636.1 apiece earlier in the day.

  • CSB Bank Q2 Results | Net profit up 72% at Rs 118.6 crore

    CSB Bank reported a net profit of Rs 118.6 crore for the quarter ended September 30, up 72.1 percent compared with the corresponding period a year ago. Its net interest income rose 21.4 percent to Rs 278.4 crore.

    Gross non-performing assets came in at 4.1 percent in the July-September period, as against 4.9 percent in the previous quarter. Net non-performing assets were at 2.6 percent in Q2, as against 3.2 percent in Q1. 

    CSB Bank shares jumped after the earnings announcement. The stock was up 1.6 percent at Rs 310.6 apiece on BSE in late afternoon deals. 

  • Yes Bank expects less than Rs 1,000 crore in slippages in Q3, eyes inorganic growth opportunity

    In an interview to CNBC-TV18, Yes Bank CEO and Managing Director Prashant Kumar said he is seeing a huge improvement in asset quality both on the corporate and retail fronts. The second wave of the pandemic impacted the retail and MSME segments, he said. 

    On Friday, Yes Bank reported a profit after tax of Rs 225 crore for the quarter ended September 30, up 74.3 percent on a year-on-year basis, mainly on the back of lower provisioning requirements. Its net interest income (NII) -- the difference between interest earned and interest expended -- declined 23.4 percent to Rs 1,512 crore. The net interest margins -- a key metric -- dipped came down to 2.2 percent from 3.1 percent in the year-ago period. (Read more on Yes Bank numbers)

    Stock Market Highlights: Sensex ends 145 points higher, Nifty50 at 18,125; ICICI Bank jumps 12%, Axis Bank 4%
  • Colgate-Palmolive Q2 Results | Net profit down 2% at Rs 269 crore, misses Street estimates

    Colgate-Palmolive reported a net 1.8 percent year-on-year decline in net profit to Rs 269.2 crore for the quarter ended September 30. Its revenue rose 5.2 percent to Rs 1,352.4 crore for the three-month period. Analysts in a CNBC-TV18 poll had predicted the company to post a net profit of Rs 285 crore over revenue of Rs 1,368 crore for the July-September period.

    Colgate Palmolive's board declared a first interim dividend of Rs 19 per equity share for the financial year 2021-22. 

     

    Colgate-Palmolive shares traded 1.3 percent lower at Rs 1,544.8 apiece on BSE, having declined as much as 2.5 percent earlier in the day. 

    Stock Market Highlights: Sensex ends 145 points higher, Nifty50 at 18,125; ICICI Bank jumps 12%, Axis Bank 4%
  • New phone designed with India at its heart, already started receiving global attention: Reliance Jio 

    Reliance Industries' digital arm, Reliance Jio Infocomm, reaffirmed its visiion to provide digital connectivity to every Indian. 

    Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

  • Reliance Jio Infocomm says JioPhone Next made in India, made for India, made by Indians

    Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

  • Technical stock picks: Analysts recommend ABB, RBL Bank, Cipla and 4 other stocks for short term now

    Are there any trading opportunities in the market now? Analysts have handpicked a few technical bets from a short-term perspective to make the most of the market. Here's the full list of their top picks.

    Stock Market Highlights: Sensex ends 145 points higher, Nifty50 at 18,125; ICICI Bank jumps 12%, Axis Bank 4%
  • Ramco Cements Q2 | Net profit more than doubles to Rs 517 crore in Q2; shares recover day's losses

    Ramco Cements reported a net profit of Rs 517.1 crore for the quarter ended September 30, as against Rs 235.8 crore for the corresponding period a year ago. Revenue came in a Rs 1,493 core, up 18.8 percent on a year-on-year basis.

    Analysts in a CNBC-TV18 poll had expected the company to post revenue of Rs 1,338 crore. 

    Ramco Cements shares traded 0.3 percent higher at Rs 966.2 apiece on BSE in afternoon, having dipped as much as 1.2 percent to Rs 929.5 apiece earlier in the day. 

  • ICICI Bank, Axis Bank, SBI, L&T top boosts for Sensex 

    On the other hand, weakness in stocks such as HDFC Bank and Infosys kept the upside in the 30-scrip index in check. 

    Stock Market Highlights: Sensex ends 145 points higher, Nifty50 at 18,125; ICICI Bank jumps 12%, Axis Bank 4%
  • Bharat Forge announces voluntary retirement scheme (VRS) for Pune unit staff    

    The company announced a VRS for employees who attained the age of 40 years and completed 10 years of service.

    Bharat Forge shares traded three percent lower at Rs 764.8 apiece on BSE, having slid nearly four percent earlier in the day.

  • COVID-19 a bigger opportunity for IT sector than perhaps Y2K: Invesco Asset Management's Sameer Narayan

    Sameer Narayan, Head-PMS at Invesco Asset Management, believes that the coronavirus pandemic is perhaps a bigger opportunity for the IT sector than Y2K. "What will play out is that the digital transformation efforts which the corporates would have done at their own discretionary time period. All that will now get crunched over the next couple of years, because if your business is not digitally-enabled, you probably don’t exist. That is a demand side argument but at the same time, for that growth that these companies are likely to report in the next two-three years in terms of their visibility, we still don’t think that these stocks are overvalued in that context," he said. 

    IT companies are richly valued but for a reason, he believes. The growth that they have to offer relative to the broader market is perhaps far stronger, and that is why they deserve to command at certail multiples, Narayan added.

  • Nykaa IPO | Management says strong response from foreign, domestic institutional investors

    The IPO-bound Nykaa's management said that the company's revenue grew at a CAGR of 48.3 percent in the last three years. The IPO has seen a strong response from foreign as well as domestic institutional investors, it said in a press conference. 

    For Nykaa, 95 percent of the gross merchandise value (GMV) comes from online channels. Forty percent of the GMV comes from Tier 1 cities and the remaining 60 percent from Tier 2 and Tier 3 cities, it said. 

    Capital market regulator SEBI recently gave its approval for Nykaa's proposed Rs 4,000-crore initial share sale

    ALSO READ: Elara Securities says first-mover advantage to help Nykaa grow 25% in five years

  • SBI, ICICI Bank, Canara Bank, Axis Bank hit 52-week highs

    SBI, ICICI Bank, Federal Bank, Canara Bank, Axis Bank and Indian Bank hit fresh 52-week highs. 

  • Telecom Dues | Bharti Airtel to opt for 4-year moratorium 

    In a response to the Department of Telecommunications (DoT), Bharti Airtel said it would opt for a four-year moratorium on adjusted gross revenue- and spectrum-related dues. The telecom company, however, is yet to provide clarity on the equity conversion scheme.

    Bharti Airtel shares traded 0.2 percent lower at Rs 692.8 apiece on BSE, as against a half a precent rise in the headline Sensex index. 

    The Union Cabinet recently cleared the four-year moratorium on AGR- and spectrum-related dues. 

  • Federal Bank branch-light, distribution-heavy, haven't scaled on branches since 2016: CEO 

    Shyam Srinivasan, CEO of Federal Bank, said in an interview to CNBC-TV18 that the lender has not scaled on branches since 2016 yet its business has doubled. A branch-light and distribution-heavy lender, Federal Bank is the leading bank in terms of partnerships, he said.

    Big investors are not seen coming onto the corporate side till March 2022, he said.

    Srinivasan expects strong growth in the gold loan business for the bank in FY22.

  • CNBC-TV18 Exclusive | Aberdeen Investment's Hugh Young says market behaviour little worrying right now

    Hugh Young of Aberdeen Investment said in an exclusive interaction with CNBC-TV18 that the market behaviour appears to be a little worrying to him right now. He is concerned about the acceleration in inflation, the impact of which is seen in Asian Paints earnings. Aberdeen will retail its long-term exposure, and may exit partially in the near future in some cases, he said.

    Infosys and TCS are amongst our top 10 holdings in India... Now we are getting opportunities to invest in Indian tech companies other than IT majors," he said. 

  • ICICI Bank, SBI, Axis Bank, Canara Bank hit 52-week highs

    SBI, ICICI Bank, SBI, Axis Bank, Canara Bank, Indian Bank and Federal Bank shares touched 52-week highs. Siyaram Silk also hit the milestone.

  • Sovereign Gold Bond scheme opens for subscription
     
    A new tranche of the Sovereign Gold Bond Scheme 2021-22 opened for subscription today. The issue price has been fixed at Rs 4,732 per gram. Online subscribers get a discount of Rs 50 per gram.
     
    The subscription window will close on October 29. (Here's all you need to know on gold bonds)
    Stock Market Highlights: Sensex ends 145 points higher, Nifty50 at 18,125; ICICI Bank jumps 12%, Axis Bank 4%
  • ICICI Bank shares up 11%; HDFC Securities raises target price

    ICICI Bank shares traded 10.9 percent higher at Rs 842 apiece on BSE, having risen as much as 12.4 percent to Rs 853 apiece earlier in the day. 

    HDFC Securities has maintained a 'buy' call on ICICI Bank with a target price of Rs 885, revised from Rs 842 earlier.

    The brokerage said the lender maintained its growth momentum with a strong operating performance. ICICI Bank reported high gross slippages, but its strong upgrades and recoveries highlighted the transient nature of the impairments in the retail portfolio, HDFC Securities said in a note.

    The lender's superior franchise is poised for sustained rerating, it added. 

    Stock Market Highlights: Sensex ends 145 points higher, Nifty50 at 18,125; ICICI Bank jumps 12%, Axis Bank 4%
  • ICICI Bank still 40-50 bps behind HDFC Bank in various parameters: HDFC Securities' Krishnan ASV 

    Krishnan ASV of HDFC Securities said in an interview to CNBC-TV18 that ICICI Bank's quarterly numbers were impressive, but the lender is still 40-50 basis points behind HDFC Bank in many parameters. ICICI Bank has been doing what it has guided for over the last eight quarter, he said. 

    ICICI Bank's gross slippage number was disappointing in Q2, he said. 

Stock Market Highlights
: Indian equity benchmarks Sensex and Nifty50 ended a choppy session mildly higher on Monday. Sharp gains in banking and financial services stocks were offset by losses in auto, IT and consumer shares. Broader indices hurt investor sentiment, with the midcap and smallcap gauges falling 1.7 percent and 2.3 percent respectively. Analysts awaited more quarterly earnings reports from India Inc for cues.