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Share Market Update: Sensex ends 164 points lower, Nifty at 12,100; Eicher Motors, Tata Motors top losers

Share Market Update:  Britannia, SML Isuzu, CARE Ratings, Container Corporation Of India, Godfrey Phillips India, Sterling And Wilson Solar, Oberoi Realty, Procter & Gamble Health, Globus Spirits, Excel, Whirlpool among others will announce their Q3 results today

twitter-logoBusinessToday.In | February 7, 2020 | Updated 15:56 IST
Share Market Update: Sensex ends 164 points lower, Nifty at 12,100; Eicher Motors, Tata Motors top losers
Here's a look at the live updates of the market action on BSE and NSE today

Share Market Update:  Snapping its rising streak for four consecutive sessions, market indices Sensex and Nifty reversed to bearish trend on Friday, tracking negative cues from overseas and closed 0.40% lower each. Backed by heavy selling pressure in banking, auto and realty stocks, BSE 30-share S&P Sensex closed 164 points lower to 41,141 and NSE 50-share index Nifty50 ended 51 points lower at 12,086. Investors also awaited December quarter earnings that are scheduled to be released today. Companies set to announce their earnings are Britannia, SML Isuzu, CARE Ratings,  Godfrey Phillips India, Sterling And Wilson Solar, Oberoi Realty, Procter & Gamble Health, Globus Spirits, Excel and Whirlpool among others. Overseas, Asian markets traded subdued due to the growing death toll and economic damage from a new virus spreading from China. Death toll in China rose to 636, with the number of infections rising to 31,161.

Here's a look at the live updates of the market action on BSE and NSE today:

Closing Bell

3: 45 PM

Domestic bourses closed on a negative note on Friday, with benchmark indices Sensex and Nifty declining 0.40% each, amid  negative cues from Asian markets. Amid heavy selling pressure in banking, auto and realty stocks, BSE 30-share S&P Sensex closed 164 points lower to 41,141 and NSE 50-share index Nifty50 ended 51 points lower at 12,086.

Symphony rises 11% post Q3 earnings

3: 00 PM

Shares of Symphony rose 11% inraday after the company posted strong set of numbers for the Q3 of the current fiscal.

The company reported 37.8 % rise (YoY) in consolidated net profit to Rs 51 crore during the quarter ended December 31, 2019 as against Rs 37 crore, recorded in a year-ago period. Total income rose 20% (YoY) to Rs 290 crore in the October-December quarter of the current fiscal as compared to Rs 240 crore in the same period last financial year. EBITDA registered a growth of 58% (YoY) at Rs 68 crore during the quarter ended December 31, 2019, while margin was up 560 bps at 23.5%.

Tata Steel shares trading flat

2: 30 PM

Tata Steel share price was trading marginally lower ahead of its Q3 earnings set to be announced later in the day. The stock fell 0.62% to Rs 475 compared to the previous close of Rs 477.95 on BSE. It hit an intra day high of Rs 479.70 on BSE. The country's largest private steel company, is likely to post a consolidated revenue of Rs 35,024.6 crore for the quarter ended December, according to a Bloomberg poll of 12 analysts.

Voltas reports Q3 earnings

2: 00 PM

The company reported 12% rise (YoY) in consolidated net profit to Rs 87 crore during the quarter ended December 31, 2019 as against Rs 78 crore, recorded in a year-ago period. Total income satyed flat at (YoY) Rs 1546.76 crore in the October-December quarter of the current fiscal as compared to the same period last financial year.

JSW Holdings reports Q3 earnings

1: 30 PM

The company reported 21.12 % rise (YoY) in consolidated net profit to Rs 10.61 crore during the quarter ended December 31, 2019 as against Rs 8.76 crore, recorded in a year-ago period. Total income fell 4.3% (YoY) to Rs 11.83 crore in the October-December quarter of the current fiscal as compared to Rs 12.36 crore in the same period last financial year. EPS stood at Rs 9.59 crore in Q3 FY20 from Rs 7.92 crore in Q3 FY19. Following the result update, shares of JSW Holdings raded 1.11% higher at the day's high of Rs 2,569 on BSE.

BHEL gains almost 2%

1: 20 PM

BHEL shares rose nearly 2% after the company informed the exchanges that it has signed MOU with Bharat Electronics Limited (BEL) during DEFEXPO 2020 at Lucknow on 6th Feb'2020.

The MoU aims at leveraging the complementary strengths and capabilities of BHEL and BEL to develop and market Products, Systems and Sensors for Defence and Non-Defence applications. The MoU will also enable BHEL and BEL to make joint efforts to explore markets for products individually developed or jointly developed by both companies, the filing added.

Varun Beverages rises 9% post Q3 result

1: 00 PM

Shares of Varun Beverages rose nearly 9 % intraday on Friday after the company posted healthy figures for the December quarter. The company reported 17.6 % recovery (YoY) in consolidated net loss to Rs 59.31 crore during the quarter ended December 31, 2019 as against Rs 71.50 crore, recorded in a year-ago period. Total income rose 55% (YoY) to Rs 1,220 crore in the October-December quarter of the current fiscal as compared to Rs 785 crore in the same period last financial year.

Strides Pharma rises 3%

12: 30 PM

Strides pharma shares gained 3.3% inraday on Friday after the company announced that its step-down wholly-owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has entered into a definitive asset transfer and licensing agreement with Pharmaceutics International, Inc.(Pii) to acquire 18 ANDAs for the US market.

Sun Pharma rises 2.5% despite weak numbers in Q3 earnings

12:00 PM

Shares of Sun Pharmaceuticals rose 2.5% in early trade on Friday despite the company reporting weak set of numbers for Q3 FY20. The company reported 26% decline (YoY) in consolidated net profit to Rs 913.52 crore during the quarter ended December 31, 2019 as against Rs 1,241.85 crore, recorded in a year-ago period. Total revenue from operations rose 5.3% (YoY) to Rs 8,154.85 crore in the October-December quarter of the current fiscal as compared to Rs 7,740.19 crore in the same period last financial year. EPS registered (YoY) at Rs 3.81 crore during the quarter ended December 31, 2019, from Rs 5.18 crore, booked in the corresponding quarter in the previous year.

Religare Enterprises rises 3%

11: 40 AM

Shares of Religare Enterprises Limited (REL) rose over 3% in Friday's trade after teh company informed exchnages that it has entered into a binding agreement with Kedaara group entity, Trishikhar Ventures LLP, a leading private equity investment firm for investments in its health insurance subsidiary -Religare Health Insurance Company Limited (RHICL). The company currently holds 88.951 % equity share capital in RHICL. The total deal value is pegged at Rs 400 cr of which, Rs 200 cr would be for the stake sale by REL while another Rs 200 cr would be brought in as primary equity capital by Kedaara. The investor will also have the option of investing another Rs 100 cr. Post consummation of this transaction, REL will hold 76.18% stake in RHICL.

Hero MotoCorp gains post Q3 result

11: 20 AM

Hero MotoCorp share price gained up to 3.44% to Rs 2,494.8, after the two-wheeler manufacturer reported a 14 per cent year-on-year rise in its standalone profit in Q3. Against net profit of Rs 880.41 crore in Q3, the auto major posted a net profit of Rs 769.10 crore in same quarter last year. Hero MotoCorp board also announced an interim dividend of Rs 65 per share. Revenue from operations in Q3 stood at Rs 6,997 crore as compared to Rs 7,865 crore in Q3 FY19. Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at Rs 1,039  crore, reflecting 14.8 per cent EBITDA margin.

Market Update

11: 00 AM

Domestic bourses traded on a negative note on Friday with benchmark indices Sensex and Nifty declining 0.20% each, on back of negative cues from Asian markets amid heavy selling pressure in banking and realty stocks. BSE 30-share S&P Sensex declined 90 points lower to 41,214 and NSE 50-share index Nifty50 traded 28 points lower at 12,109.

Eicher Motor top loser post Q3 result

10: 50 AM

Shares of Eicher Motors fell over 4% in trade on Friday after the company posted decline in net profit growth in its  December quarter earnings. The company reported a 6.3% fall (YoY) in consolidated net profit to Rs 498 crore during the quarter ended December 31, 2019 as against Rs 532 crore, recorded in a year-ago period. Total revenue from operations rose 1.28% (YoY) to Rs 2,371 crore in the October-December quarter of the current fiscal as compared to Rs 2,341 crore during the same period last financial year. EPS registered (YoY) at Rs 182 crore during the quarter ended December 31, 2019, from Rs 195 crore, booked in the corresponding quarter in previous year. Yesterday, Eicher Motors share price eneded as the top gainer, rising over 3% ahead of the results.

Global Market Update

10: 45 AM

On the global financial market front, Asian market was trading lower due to the increasing death toll and economic damage from a new virus spreading from China. Death toll in China rose to 636, with the number of infections at 31,161. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.5% on Friday. China's Shanghai, Japan's Nikkei and Korea's Kospi headed lower in morning trade, while Taiwan and Hang Seng Index fell strongly in red.

US stocks consolidated gains for a fourth consecutive day to climb new record highs, as sentiment kept improving on China's pledge of tariff cuts on American goods. Although US Futures (Dow Jones) traded at 29273, down 55 points or 0.19%. The Dow Jones Industrial Average rose 88.92 points, or 0.3%, to 29,379.77, the S&P 500 gained 11.09 points, or 0.33%, to 3,345.78 and the Nasdaq Composite added 63.47 points, or 0.67%, to 9,572.15.

Rupee opens lower

10: 35 AM

The rupee opened on a weak note and declined by 9 paise to 71.27 against the US dollar in opening trade on Friday, tracking weak opening in domestic equities and foreign fund outflows. The rupee had settled at 71.18 against the US dollar on Thursday.

Stocks to watch out for today

10: 20 AM

Eicher Motors, Sun Pharma, Bata, RITES, Britannia, SML Isuzu, CARE Ratings, Voltas, Inox Leisure, Corporation Bank, Whirlpool among others are the top stocks to watch out for in Friday's trading session

Earnings Today

10: 00 AM

Britannia, Container Corporation Of India, Godfrey Phillips India, Sterling And Wilson Solar, Whirlpool Of India, Voltas, Oberoi Realty, Procter & Gamble Health, SML Isuzu, CARE Ratings, Future Supply Chain Solutions, Inox Leisure, Corporation Bank, Excel Industries, Venky's, Abbott India, Globus Spirits, Mahanagar Gas, Alkem Laboratories, Apex Frozen Foods, Ashoka Buildcon, Apollo Finvest, Archies, Emami, Essel Propack, IIFL Securities, JSW Holdings, KEC International, Kolte-Patil Developers, Maharashtra Seamless, Max India,  New India Assurance Company, NTPC, Repco Home Finance, Varun Beverages, UPL, TV Today Network, Tata Steel, Symphony among others will announce their quarterly results today.

FII/ DII action on Thursday

9: 40 AM

On a net basis, foreign institutional investors sold equities worth Rs 560.36 crore, while domestic institutional investors bought shares worth Rs 304.01 crore on Thursday, data available with stock exchanges showed.

Opening Bell

9: 20 AM

Equity market benchmarks Sensex and Nifty reversed trend and opened lower on Friday, tracking global cues amid heavy selling pressure in banking and realty stocks. BSE 30-share S&P Sensex declined 90 points lower to 41,214 and NSE 50-share index Nifty50 traded 28 points lower at 12,109.

Domestic cues

9: 10 AM

In domestic cues, the RBI in its sixth bi-monthly monetary policy review of 2019-20, kept the repo rate unchanged at 5.15% while retaining its accommodative stance. The central bank also kept the GDP growth estimate unchanged for the current fiscal at 5% but projected a pick up to 6% in the next financial year.

Last Close

9: 00 AM

Sensex and Nifty closed 0.40% higher on Thursday, amid strong cues from global markets, backed by heavy buying in PSU banking, media and pharma stocks. BSE 30-share S&P Sensex ended 144 points higher at 41,313 and NSE 50-share index Nifty50 closed 44 points higher at 12,133.

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