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Share Market Update: Sensex ends 221 points higher, Nifty at 11,961 mark; Godrej Consumer rises 4% post Q2 earnings

BusinessToday.In | 06 November 2019

Share Market Update : Equity indices traded at record high levels on Wednesday, with Sensex and Nifty closing 0.50% higher each. Sensex closed at 40,469.78 level, rising 221 points against the last close and Nifty ended the day's trade at 11,961, up 43 points. Where Sensex breached earlier record high level to hit a fresh all time high of 40,606.91 mark on Wednesday, Nifty made an intraday high to 12,002.90 level, trading 0.80% or 100 points away from the 52-week high of 12,103.05.

 

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KEY UPDATES

  • Share market Update: Sectorally, all the indices had a bullish run except for auto, media and private banking indices. While highest growth was recorded in realty sector, rising 2%, over 1% advance was registered in banking and financial services sector.
  • 09:36 IST

    Realty index gains the most

    NSE realty index gained the most and outperformed the other sectors today, rising 1.59% intraday in expectation of new measures.

    The rally in realty scrips today is on back of FM Sitharaman's announcement that the government is working with RBI to revive real estate sector. She flagged concerns over the problems faced by the real estate sector, saying that the ailing sector required a lot of attention. "A healthy real estate sector is the biggest creator of jobs," she added.

  • 09:36 IST: NSE realty index gained the most and outperformed the other sectors today, rising 1.59% intraday in expectation of new measures.

    The rally in realty scrips today is on back of FM Sitharaman's announcement that the government is working with RBI to revive real estate sector. She flagged concerns over the problems faced by the real estate sector, saying that the ailing sector required a lot of attention. "A healthy real estate sector is the biggest creator of jobs," she added.

  • 15:39 IST

    Closing bell



    Equity indices traded at record high levels on Wednesday, with Sensex and Nifty closing 0.50% higher each. Sensex closed at 40,469.78 level, rising 221 points against the last close and Nifty ended the day's trade at 11,961, up 43 points. Where Sensex breached earlier record high level to hit a fresh all time high of 40,606.91 mark on Wednesday, Nifty made an intraday high to 12,002.90 level, trading 0.80% or 100 points away from the 52-week high of 12,103.05.

    Sectorally, all the indices had a bullish run except for auto, media and private banking indices. While highest growth was recorded in realty sector, rising 2%, over 1% advance was registered in banking and financial services sector.

  • 15:39 IST:

    Equity indices traded at record high levels on Wednesday, with Sensex and Nifty closing 0.50% higher each. Sensex closed at 40,469.78 level, rising 221 points against the last close and Nifty ended the day's trade at 11,961, up 43 points. Where Sensex breached earlier record high level to hit a fresh all time high of 40,606.91 mark on Wednesday, Nifty made an intraday high to 12,002.90 level, trading 0.80% or 100 points away from the 52-week high of 12,103.05.

    Sectorally, all the indices had a bullish run except for auto, media and private banking indices. While highest growth was recorded in realty sector, rising 2%, over 1% advance was registered in banking and financial services sector.

  • 14:56 IST

    Consumer durables stocks cap gains

    However, consumer durables stocks were top losers on benchmark indices. BSE consumers durable index fell 1,290 points to 24,836 against previous close of 26,136.

  • 14:56 IST: However, consumer durables stocks were top losers on benchmark indices. BSE consumers durable index fell 1,290 points to 24,836 against previous close of 26,136.

  • 13:42 IST

    Sensex hits all-time high, Nifty crosses 12,000 mark

    Share Market Live: Benchmark indices Sensex and Nifty hit record high levels in the afternoon session on back of buying pressure in realty, metal and private banking stocks. While Sensex hit an all-time high of 40,606, Nifty hit intra day high of 12,002.  Nifty fell 101 points short of its all time high of 12,103. Currently, Sensex trades 271 points higher at 40,521 mark and Nifty trades 71 points higher 11,985 level.

  • 13:42 IST: Share Market Live: Benchmark indices Sensex and Nifty hit record high levels in the afternoon session on back of buying pressure in realty, metal and private banking stocks. While Sensex hit an all-time high of 40,606, Nifty hit intra day high of 12,002.  Nifty fell 101 points short of its all time high of 12,103. Currently, Sensex trades 271 points higher at 40,521 mark and Nifty trades 71 points higher 11,985 level.

  • 13:30 IST

    Godrej Consumers reports profit better than estimates, shares rise 4%





    Share price of Godrej Consumers, that was earlier trading mildly bullish, has risen nearly 4% intarday to Rs 749.95 on the BSE, after the company reported better than estimate net profit for September quarter.

    Net profit in India grew 13% year-on-year to Rs 334.30 crore against the last year's Rs 295.2l crore recorded in the corresponding quarter, while its net sales in India was at Rs 1,490.45 crore, up 1% in Q2FY20 against Rs 1,480.70 crore recorded in teh same quarter last fiscal. Company's adjusted EBITDA for the Q2FY2020 increased by 2% to Rs 392 crore.

    Company's volume growth in India also came in-line at 7% this quarter against the 5% growth in Q1FY20, led by new product launches, effective marketing campaigns and consumer offers. This has further resulted in 4% value growth.

    The company has also declared interim dividend of Rs 2 per share (200% on shares of face value of Rs 1/- each) for the financial year 2019-20.

    Commenting on the financial performance of 2Q FY 2020, Nisaba Godrej, Executive Chairperson, GCPL said, "Our India business delivered a robust volume growth of 7%, broad based across categories, amidst a general slowdown in staples consumption. We expect a gradual recovery in the coming quarters for the FMCG industry and also for our business."

    "In fiscal year 2020 we expect steady volume growth in India, supported by our continued focus on innovations and enhancements to our go-to-market model," he added.

  • 13:30 IST:



    Share price of Godrej Consumers, that was earlier trading mildly bullish, has risen nearly 4% intarday to Rs 749.95 on the BSE, after the company reported better than estimate net profit for September quarter.

    Net profit in India grew 13% year-on-year to Rs 334.30 crore against the last year's Rs 295.2l crore recorded in the corresponding quarter, while its net sales in India was at Rs 1,490.45 crore, up 1% in Q2FY20 against Rs 1,480.70 crore recorded in teh same quarter last fiscal. Company's adjusted EBITDA for the Q2FY2020 increased by 2% to Rs 392 crore.

    Company's volume growth in India also came in-line at 7% this quarter against the 5% growth in Q1FY20, led by new product launches, effective marketing campaigns and consumer offers. This has further resulted in 4% value growth.

    The company has also declared interim dividend of Rs 2 per share (200% on shares of face value of Rs 1/- each) for the financial year 2019-20.

    Commenting on the financial performance of 2Q FY 2020, Nisaba Godrej, Executive Chairperson, GCPL said, "Our India business delivered a robust volume growth of 7%, broad based across categories, amidst a general slowdown in staples consumption. We expect a gradual recovery in the coming quarters for the FMCG industry and also for our business."

    "In fiscal year 2020 we expect steady volume growth in India, supported by our continued focus on innovations and enhancements to our go-to-market model," he added.

  • 13:12 IST

    Infosys stock up 3% from lows

    Amid the Infosys' analyst call over the matter of the recent whistleblower allegations, the stock price of Infosys has gained more than 3% from earlier flat-to-positive trade in the early morning.

  • 13:12 IST: Amid the Infosys' analyst call over the matter of the recent whistleblower allegations, the stock price of Infosys has gained more than 3% from earlier flat-to-positive trade in the early morning.

  • 13:08 IST

    NSE seeks cut in tax on capital market transactions




    The National Stock Exchange (NSE), has pitched for a reduction in taxes levied on capital market transactions, in a bid to increase the attractiveness of the domestic market.

    Speaking at an event to celebrate the exchange’s 25th anniversary, Vikram Limaye, managing director and chief executive officer, NSE, said several taxes, including the securities transaction tax (STT) and the goods and services tax (GST), are hurting investor participation.
     

  • 13:08 IST:


    The National Stock Exchange (NSE), has pitched for a reduction in taxes levied on capital market transactions, in a bid to increase the attractiveness of the domestic market.

    Speaking at an event to celebrate the exchange’s 25th anniversary, Vikram Limaye, managing director and chief executive officer, NSE, said several taxes, including the securities transaction tax (STT) and the goods and services tax (GST), are hurting investor participation.
     

  • 13:05 IST

    Aurobindo Pharma gets a 'Form 483' with 4 observations each for two facilities



    Shares of Aurobindo Pharma declined 6.27% to the intraday low of Rs 443.8 on BSE, after the company announced today that USFDA has issued 'Form 483' with 4 observations at 2 Hyderabad facilities of the company.


    "The United States Food and Drug Administration (US FDA) inspected Unit V, API manufacturing facility at Pashamylaram, Hyderabad and Unit VIII, API manufacturing facility at Gaddapotharam, Hyderabad of the Company from 21 slto 28th October 2019 and from 21 st to 25th October 2019, respectively. At the end of the inspections, we have been issued a 'Form 483' with 4 observations for each facility," comapny said in a regulatory filing to the stock exchanges.

    Aurobindo stock has fallen 38% year-to-date, 21% in one month and over 3% in one week, respectively.

  • 13:05 IST:

    Shares of Aurobindo Pharma declined 6.27% to the intraday low of Rs 443.8 on BSE, after the company announced today that USFDA has issued 'Form 483' with 4 observations at 2 Hyderabad facilities of the company.


    "The United States Food and Drug Administration (US FDA) inspected Unit V, API manufacturing facility at Pashamylaram, Hyderabad and Unit VIII, API manufacturing facility at Gaddapotharam, Hyderabad of the Company from 21 slto 28th October 2019 and from 21 st to 25th October 2019, respectively. At the end of the inspections, we have been issued a 'Form 483' with 4 observations for each facility," comapny said in a regulatory filing to the stock exchanges.

    Aurobindo stock has fallen 38% year-to-date, 21% in one month and over 3% in one week, respectively.

  • 12:23 IST

    Vedanta shares rises 2.3% as Govt grants 10 yr extension for Ravva block

    Vedanta shares rose 2.3% intarday to the high of Rs 161.15 on the BSE after the company announced that the Government of India (acting through the Directorate General of Hydrocarbons, Ministry of Petroleum and Natural Gas) granted its approval for a 10-year extension of the Production Sharing Contract (PSC) to Cairn Oil & Gas, Vedanta Ltd, for the Ravva block in Andhra Pradesh.With this extension, the PSC is now valid effective 28 October 2019, for the next 10 years.

    "The extension will enable the Joint Venture partners to recover 13 million barrels of oil equivalent (boe) of oil. In addition, the JV partners will invest Rs 550 crore (USD 78 million) to drill seven Revised Field Development Plan (RFDP) wells targeting additional reserves of ~11.7 million boe. These campaigns put the JV on course for yet another milestone in hydrocarbon recovery from this world-class offshore asset," the company said in a regulatory filing.

  • 12:23 IST: Vedanta shares rose 2.3% intarday to the high of Rs 161.15 on the BSE after the company announced that the Government of India (acting through the Directorate General of Hydrocarbons, Ministry of Petroleum and Natural Gas) granted its approval for a 10-year extension of the Production Sharing Contract (PSC) to Cairn Oil & Gas, Vedanta Ltd, for the Ravva block in Andhra Pradesh.With this extension, the PSC is now valid effective 28 October 2019, for the next 10 years.

    "The extension will enable the Joint Venture partners to recover 13 million barrels of oil equivalent (boe) of oil. In addition, the JV partners will invest Rs 550 crore (USD 78 million) to drill seven Revised Field Development Plan (RFDP) wells targeting additional reserves of ~11.7 million boe. These campaigns put the JV on course for yet another milestone in hydrocarbon recovery from this world-class offshore asset," the company said in a regulatory filing.

  • 12:20 IST

    JSPL shares rise 6% post quarterly results

     JSPL shares traded 5.2 % higher at Rs 139, trading in line with 'Iron & Steel/Interm Products' sector. The stock has risen 6.32% intraday to Rs 142.1 on the BSE.

    Jindal Steel and Power Ltd (JSPL) on Tuesday posted a consolidated net loss of Rs 399.31 crore for the quarter ended September 30. However, the company had posted a consolidated net profit of Rs 279.17 crore in the year-ago period, JSPL said in a filing to the BSE.  Its total income in the July-September 2019 quarter declined to Rs 8,940.33 crore, over Rs 9,983.16 crore in the year-ago period.
     

  • 12:20 IST:  JSPL shares traded 5.2 % higher at Rs 139, trading in line with 'Iron & Steel/Interm Products' sector. The stock has risen 6.32% intraday to Rs 142.1 on the BSE.

    Jindal Steel and Power Ltd (JSPL) on Tuesday posted a consolidated net loss of Rs 399.31 crore for the quarter ended September 30. However, the company had posted a consolidated net profit of Rs 279.17 crore in the year-ago period, JSPL said in a filing to the BSE.  Its total income in the July-September 2019 quarter declined to Rs 8,940.33 crore, over Rs 9,983.16 crore in the year-ago period.
     

  • 12:16 IST

    Market turns positive

    Share Market Live: Amid Q2 earnings season, benchmark indices Sensex and Nifty turned positive after a bearish start on Wednesday, on back of strong buying pressure in realty, metal and private banking stocks.  While Sensex trades 177 points higher at 40,427, Nifty50 has risen 44 points to 11,961 level.

  • 12:16 IST: Share Market Live: Amid Q2 earnings season, benchmark indices Sensex and Nifty turned positive after a bearish start on Wednesday, on back of strong buying pressure in realty, metal and private banking stocks.  While Sensex trades 177 points higher at 40,427, Nifty50 has risen 44 points to 11,961 level.

  • 11:15 IST

    Telecom stocks trade lower


    Telecom stocks were also under pressure, with Vodafone Idea Ltd declining as much as 7.1%, while Bharti Airtel Ltd inched 1.4% lower.

    This comes after a report said the government would not waive off dues of telecom operators under a Supreme Court verdict on the definition of adjusted gross revenue.

    (Reuters)

  • 11:15 IST:
    Telecom stocks were also under pressure, with Vodafone Idea Ltd declining as much as 7.1%, while Bharti Airtel Ltd inched 1.4% lower.

    This comes after a report said the government would not waive off dues of telecom operators under a Supreme Court verdict on the definition of adjusted gross revenue.

    (Reuters)

  • 11:12 IST

    Realty stocks up as FM says Govt working with RBI to revive Realty sector

    Realty indices gained the most today among other sectors, rising over 2% intraday with 5% gain in Indiabulls Real Estate and Sobha Ltd, over 3% gain in Godrej Properties and Prestige Industries and 2% advance in Sun Tack and DLF shares.

    This comes after the announcement by Fm Sitharaman yesterday that the government working with RBI to revive real estate sector Finance Minister Nirmala Sitharaman has flagged concerns over the problems faced by the real estate sector, saying that the ailing sector required a lot of attention.

    “The government of India is very keen and is working with RBI to see how best we can where necessary tweak the existing laws and help the people in this particular sector (real estate) which is not completely addressed till now,” Sitharaman said at a function to mark 25 years of NSE. She said the sector had a cause and effect impact from the stock market.

     

  • 11:12 IST: Realty indices gained the most today among other sectors, rising over 2% intraday with 5% gain in Indiabulls Real Estate and Sobha Ltd, over 3% gain in Godrej Properties and Prestige Industries and 2% advance in Sun Tack and DLF shares.

    This comes after the announcement by Fm Sitharaman yesterday that the government working with RBI to revive real estate sector Finance Minister Nirmala Sitharaman has flagged concerns over the problems faced by the real estate sector, saying that the ailing sector required a lot of attention.

    “The government of India is very keen and is working with RBI to see how best we can where necessary tweak the existing laws and help the people in this particular sector (real estate) which is not completely addressed till now,” Sitharaman said at a function to mark 25 years of NSE. She said the sector had a cause and effect impact from the stock market.

     

  • 11:07 IST

    Infosys shares trade flat ahead of analyst' meet

    Shares of Infosys Ltd were trading flat ahead of an analysts’ meet. The software services company has been in focus over the last couple of weeks after a whistle blower alleged financial misappropriation at the firm.

    "Company will hold its pre-scheduled annual analyst/investor meeting in Bengaluru  on  November 6, 2019 at Infosys, Electronic City Campus between 11:00 AM and 4:15 PM," company has said in an earlier filing.

    As per the company statement issued today, the Audit Committee has appointed an external law firm to conduct an independent investigation into the allegations made in the complaints.  We will share the outcome of the investigation at the relevant time with all stakeholders

    "These speculations are appalling and seem to be aimed at tarnishing the image of some of the most accomplished and respected individuals. I have deep regard for the life-long contribution of all our cofounders. They have built this institution and have served this company selflessly and even today, remain committed to the long-term success of Infosys," quoted Nandan Nilekani, Chairman, Infosys.

     

  • 11:07 IST: Shares of Infosys Ltd were trading flat ahead of an analysts’ meet. The software services company has been in focus over the last couple of weeks after a whistle blower alleged financial misappropriation at the firm.

    "Company will hold its pre-scheduled annual analyst/investor meeting in Bengaluru  on  November 6, 2019 at Infosys, Electronic City Campus between 11:00 AM and 4:15 PM," company has said in an earlier filing.

    As per the company statement issued today, the Audit Committee has appointed an external law firm to conduct an independent investigation into the allegations made in the complaints.  We will share the outcome of the investigation at the relevant time with all stakeholders

    "These speculations are appalling and seem to be aimed at tarnishing the image of some of the most accomplished and respected individuals. I have deep regard for the life-long contribution of all our cofounders. They have built this institution and have served this company selflessly and even today, remain committed to the long-term success of Infosys," quoted Nandan Nilekani, Chairman, Infosys.

     

  • 11:03 IST

    Sun Pharma rises nearly 5% on patnership with AstraZeneca


    Shares of Sun Pharmaceutical Industries Ltd advanced 4.5% on Wednesday after the company said it would distribute some of its cancer treatment drugs in China through Britain’s AstraZeneca. Meanwhile, the Nifty Pharma index rose nearly 2%.

    Sun Pharma will be responsible for development, regulatory filings and manufacturing of the drugs covered in the deal, while AstraZeneca will exclusively promote and distribute the products in China, according to a filing here to Indian stock exchanges.

  • 11:03 IST:
    Shares of Sun Pharmaceutical Industries Ltd advanced 4.5% on Wednesday after the company said it would distribute some of its cancer treatment drugs in China through Britain’s AstraZeneca. Meanwhile, the Nifty Pharma index rose nearly 2%.

    Sun Pharma will be responsible for development, regulatory filings and manufacturing of the drugs covered in the deal, while AstraZeneca will exclusively promote and distribute the products in China, according to a filing here to Indian stock exchanges.

  • 10:57 IST

    India opts out of RCEP trade deal



    India has decided to not join the Regional Comprehensive Economic Partnership (RCEP) after negotiations failed to address New Delhi's concerns on the biggest trade deal in the world. The remaining 15 RCEP nations have decided to go ahead without India, according to sources.

    Meanwhile, China, that has been a prominent advocate of RCEP, has said that 15 members have agreed to move ahead without India, while leaving the door open for it to join, a deal that has been given new impetus by the United States-China trade war.

     

  • 10:57 IST:

    India has decided to not join the Regional Comprehensive Economic Partnership (RCEP) after negotiations failed to address New Delhi's concerns on the biggest trade deal in the world. The remaining 15 RCEP nations have decided to go ahead without India, according to sources.

    Meanwhile, China, that has been a prominent advocate of RCEP, has said that 15 members have agreed to move ahead without India, while leaving the door open for it to join, a deal that has been given new impetus by the United States-China trade war.

     

  • 10:55 IST

    Rupee extends morning losses

    The Indian rupee has extended the morning losses and trading at day's low level at 70.89 per dollar.

    At the interbank foreign exchange, the rupee opened at 70.80 then lost momentum and fell to 70.84 against the US dollar, showing a decline of 15 paise over its previous closing.

    The Indian rupee on Tuesday had closed at 70.69 against the US dollar.

    However, weakening of the US dollar vis-a-vis other currencies overseas and easing crude oil prices supported the domestic unit and restricted the fall.

    Read more

  • 10:55 IST: The Indian rupee has extended the morning losses and trading at day's low level at 70.89 per dollar.

    At the interbank foreign exchange, the rupee opened at 70.80 then lost momentum and fell to 70.84 against the US dollar, showing a decline of 15 paise over its previous closing.

    The Indian rupee on Tuesday had closed at 70.69 against the US dollar.

    However, weakening of the US dollar vis-a-vis other currencies overseas and easing crude oil prices supported the domestic unit and restricted the fall.

    Read more

  • 10:52 IST

    Global markets wary hopes over US-China trade deal

    MSCI’s broadest index of Asia-Pacific shares outside Japan inched 0.1% lower as investors paused for fresh cues about developments in the U.S.-China trade talks.

    On the global front, media reports suggested that China wants the US to drop tariffs on USD 360 billion of imports for trade deal.

    Meanwhile, the United Nations on Tuesday said that the ongoing trade war between the United States and China is harming both economies, with a sharp drop in exports and higher prices for consumers.

  • 10:52 IST: MSCI’s broadest index of Asia-Pacific shares outside Japan inched 0.1% lower as investors paused for fresh cues about developments in the U.S.-China trade talks.

    On the global front, media reports suggested that China wants the US to drop tariffs on USD 360 billion of imports for trade deal.

    Meanwhile, the United Nations on Tuesday said that the ongoing trade war between the United States and China is harming both economies, with a sharp drop in exports and higher prices for consumers.

  • 10:36 IST

    Tech Mahindra rises over 1% post Q2 result

    Tech Mahindra shares rose 1.33% intraday to Rs 783.50, against the last closing of Rs 773.15.

    Tech Mahindra, a subsidiary of the Mahindra Group, on Tuesday reported 5.6 per cent year-on-year (YoY) rise in consolidated net profit at Rs 1,123.90 crore for the second quarter ended June 30. The profit was up 17.2 per cent compared to Rs 959.30 crore in the March quarter.

    "The IT firm had posted consolidated net profit of Rs 1,064.30 crore in the same quarter last year," Tech Mahindra said in a filing to the Bombay Stock Exchange.


    Tech Mahindra Q2 net profit up 5.6% at Rs 1,124 crore, to acquire Born Group

  • 10:36 IST: Tech Mahindra shares rose 1.33% intraday to Rs 783.50, against the last closing of Rs 773.15.

    Tech Mahindra, a subsidiary of the Mahindra Group, on Tuesday reported 5.6 per cent year-on-year (YoY) rise in consolidated net profit at Rs 1,123.90 crore for the second quarter ended June 30. The profit was up 17.2 per cent compared to Rs 959.30 crore in the March quarter.

    "The IT firm had posted consolidated net profit of Rs 1,064.30 crore in the same quarter last year," Tech Mahindra said in a filing to the Bombay Stock Exchange.


    Tech Mahindra Q2 net profit up 5.6% at Rs 1,124 crore, to acquire Born Group

  • 10:33 IST

    FM Sitharaman says 'Next wave of reforms soon'

    Finance Minister Nirmala Sitharaman on Tuesday said the government will soon use its strong electoral mandate to usher in the next wave of reforms, and not to miss the bus this time.

    Without naming the reform measures unsuccessfully attempted by the Modi government in its first term, and in an apparent hint at land acquisition reform attempts by NDA1, she said government's efforts last time were thwarted by the poor numbers in the Upper House.



    Next wave of reforms soon; pain points in manufacturing to be resolved: FM Sitharaman

  • 10:33 IST: Finance Minister Nirmala Sitharaman on Tuesday said the government will soon use its strong electoral mandate to usher in the next wave of reforms, and not to miss the bus this time.

    Without naming the reform measures unsuccessfully attempted by the Modi government in its first term, and in an apparent hint at land acquisition reform attempts by NDA1, she said government's efforts last time were thwarted by the poor numbers in the Upper House.



    Next wave of reforms soon; pain points in manufacturing to be resolved: FM Sitharaman

  • 10:31 IST

    Sensex pack losers and gainers

    Top losers in the Sensex pack included Bharti Airtel, HCL Tech, ITC, Axis Bank, Bajaj Auto, HDFC duo, TCS and Reliance Industries, shedding up to 1.65 per cent.

    On the other hand, Sun Pharma was the biggest gainer, rallying 5 per cent, after the drug major said it had entered a licensing agreement with AstraZeneca UK to introduce certain novel ready-to-use infusion oncology products in China.

    Tech Mahindra, Yes Bank, Infosys, Vedanta, M&M and L&T too fell up to 1.13 per cent.

  • 10:31 IST: Top losers in the Sensex pack included Bharti Airtel, HCL Tech, ITC, Axis Bank, Bajaj Auto, HDFC duo, TCS and Reliance Industries, shedding up to 1.65 per cent.

    On the other hand, Sun Pharma was the biggest gainer, rallying 5 per cent, after the drug major said it had entered a licensing agreement with AstraZeneca UK to introduce certain novel ready-to-use infusion oncology products in China.

    Tech Mahindra, Yes Bank, Infosys, Vedanta, M&M and L&T too fell up to 1.13 per cent.

  • 10:24 IST

    JSPL shares rise 1%

    Jindal Steel and Power Ltd (JSPL) on Tuesday posted a consolidated net loss of Rs 399.31 crore for the quarter ended September 30.

    However, the company had posted a consolidated net profit of Rs 279.17 crore in the year-ago period, JSPL said in a filing to the BSE.

    These are after-tax figures.

    Its total income in the July-September 2019 quarter declined to Rs 8,940.33 crore, over Rs 9,983.16 crore in the year-ago period.

    Despite the earning figures, JSPL shares on BSE traded 1% higher at Rs 135, trading in line with 'Iron & Steel/Interm Products' sector.

    Read More

  • 10:24 IST: Jindal Steel and Power Ltd (JSPL) on Tuesday posted a consolidated net loss of Rs 399.31 crore for the quarter ended September 30.

    However, the company had posted a consolidated net profit of Rs 279.17 crore in the year-ago period, JSPL said in a filing to the BSE.

    These are after-tax figures.

    Its total income in the July-September 2019 quarter declined to Rs 8,940.33 crore, over Rs 9,983.16 crore in the year-ago period.

    Despite the earning figures, JSPL shares on BSE traded 1% higher at Rs 135, trading in line with 'Iron & Steel/Interm Products' sector.

    Read More

  • 10:17 IST

    Indian Pharmas: more than half of USFDA's warning letters in 2019

    The data reviewed by Business Today revealed almost 15 Indian companies - including Lupin, Aurobindo, Jubilant Generics, Emcure and Strides Pharma Sciences-received notices out of 32 warning letters issued till November this year by the Office of Manufacturing Quality, US FDA.

    The other companies that received US FDA's warning letter this year include Aurobindo Pharma's Srikakulam plant, CTX Lifesciences Surat plant, Lantech Pharma's Hyderabad unit, Rxhomeo's Hyderabad unit, Glint Cosmetics' Navi Mumbai plant, Centurion Laboratories' Manjusar plant in Gujarat, B. Jain Pharmaceuticals's unit at Bhiwadi in Rajasthan, Jubilant Generics's unit in Uttaranchal, Hospira Healthcare's Irungattukottai plant near Chennai, Vipor Chemicals at Baroda and Anicare Pharmaceuticals Navi Mumbai.

    Read more

  • 10:17 IST: The data reviewed by Business Today revealed almost 15 Indian companies - including Lupin, Aurobindo, Jubilant Generics, Emcure and Strides Pharma Sciences-received notices out of 32 warning letters issued till November this year by the Office of Manufacturing Quality, US FDA.

    The other companies that received US FDA's warning letter this year include Aurobindo Pharma's Srikakulam plant, CTX Lifesciences Surat plant, Lantech Pharma's Hyderabad unit, Rxhomeo's Hyderabad unit, Glint Cosmetics' Navi Mumbai plant, Centurion Laboratories' Manjusar plant in Gujarat, B. Jain Pharmaceuticals's unit at Bhiwadi in Rajasthan, Jubilant Generics's unit in Uttaranchal, Hospira Healthcare's Irungattukottai plant near Chennai, Vipor Chemicals at Baroda and Anicare Pharmaceuticals Navi Mumbai.

    Read more

  • 10:14 IST

    Gold sales slide 32 per cent in Q3

    Monsoon, high prices and fears of an impending economic slowdown caused a steep fall in gold sales in the third quarter of this year, in one of the worst quarterly demand for gold in the country since 2005.

    Demand for gold in India for Q3 was 123.9 tonnes worth Rs 41,297 crore, down 32 per cent compared to Rs 50,085 crore for 183.2 tonnes in the corresponding previous year quarter. Total jewellery demand in India for the period also decreased 32 percent (Rs 33,851 crore) at 101.6 tonnes as compared to Q3 2018 demand for 148.8 tonnes worth Rs 40,687 crore.

    The value of jewellery demand was down by 17 per cent during the period, said data from World Gold Council, the agency tracking gold sales at wholesale level.  

    Gold sales slide 32 per cent in Q3

  • 10:14 IST:

    Monsoon, high prices and fears of an impending economic slowdown caused a steep fall in gold sales in the third quarter of this year, in one of the worst quarterly demand for gold in the country since 2005.

    Demand for gold in India for Q3 was 123.9 tonnes worth Rs 41,297 crore, down 32 per cent compared to Rs 50,085 crore for 183.2 tonnes in the corresponding previous year quarter. Total jewellery demand in India for the period also decreased 32 percent (Rs 33,851 crore) at 101.6 tonnes as compared to Q3 2018 demand for 148.8 tonnes worth Rs 40,687 crore.

    The value of jewellery demand was down by 17 per cent during the period, said data from World Gold Council, the agency tracking gold sales at wholesale level.  

    Gold sales slide 32 per cent in Q3

  • 10:12 IST

    Titan tanks 9% on BSE

    Shares of Titan Company, the Tata Group firm opened with a loss of 9.65% today at Rs 1,160, also its intraday low on Wednesday, as the 'Accessories' sector company on Tuesday reported 1.8% year-on-year (YoY) growth in standalone net profit at Rs 320.16 crore for the second quarter ended September 30, 2019, affected by subdued performance in jewellery business.

    The total income rose marginally by 0.7 per cent, while revenue from operations during July-September quarter  were at par with last year's figures. The jewellery business had a subdued quarter due to very high gold prices, recording revenue of Rs 3,528 crore as compared to Rs 3,582 crore last year. The watches business recorded an income of Rs 719 crore against Rs 676 crore in the previous year, a growth of 6.4 per cent

  • 10:12 IST: Shares of Titan Company, the Tata Group firm opened with a loss of 9.65% today at Rs 1,160, also its intraday low on Wednesday, as the 'Accessories' sector company on Tuesday reported 1.8% year-on-year (YoY) growth in standalone net profit at Rs 320.16 crore for the second quarter ended September 30, 2019, affected by subdued performance in jewellery business.

    The total income rose marginally by 0.7 per cent, while revenue from operations during July-September quarter  were at par with last year's figures. The jewellery business had a subdued quarter due to very high gold prices, recording revenue of Rs 3,528 crore as compared to Rs 3,582 crore last year. The watches business recorded an income of Rs 719 crore against Rs 676 crore in the previous year, a growth of 6.4 per cent

  • 10:03 IST

    DII bearish amid bullish FII

    Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained positive with net buying logged at Rs 473.17 crore from Indian equities while domestic institutional investors (DIIs) turned bearish with net selling logged at Rs 1,593.71 crore on Tuesday.

     

  • 10:03 IST: Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained positive with net buying logged at Rs 473.17 crore from Indian equities while domestic institutional investors (DIIs) turned bearish with net selling logged at Rs 1,593.71 crore on Tuesday.

     

  • 10:02 IST

    Rupee opens lower

     Indian rupee, the local currency opened lower at the interbank exchange, at 70.79 per dollar against last closing of 70.69 per dollar, amid rising demand for the American currency .

  • 10:02 IST:  Indian rupee, the local currency opened lower at the interbank exchange, at 70.79 per dollar against last closing of 70.69 per dollar, amid rising demand for the American currency .

  • 09:57 IST

    Earnings due today

    Cipla, Lupin, Tata Steel,Bajaj Electricals, Bosch India, Godrej Consumer Products, Corporation Bank, Exide Industries, Fortis Healthcare, Indiabulls Housing Finance, Minda Corporation, Radico Khaitan, Religare Enterprises, Emami Ltd, Shipping Corporation of India Schneider Electric, Voltas, Max Financial Services, Mannapuram Finance, Honda SEIL Power Products, Prakash Industries and V-Guard Industries among others are scheduled to post their second quarterly results on Wednesday.

     

  • 09:57 IST: Cipla, Lupin, Tata Steel,Bajaj Electricals, Bosch India, Godrej Consumer Products, Corporation Bank, Exide Industries, Fortis Healthcare, Indiabulls Housing Finance, Minda Corporation, Radico Khaitan, Religare Enterprises, Emami Ltd, Shipping Corporation of India Schneider Electric, Voltas, Max Financial Services, Mannapuram Finance, Honda SEIL Power Products, Prakash Industries and V-Guard Industries among others are scheduled to post their second quarterly results on Wednesday.

     

  • 09:45 IST

    Sectors Update


    On the sectoral front, gains in media, metal, pharma and realty provided mild support to the broader indices, while losses in energy, FMCG, IT, banking and auto dragged indices further down.


     

  • 09:45 IST:
    On the sectoral front, gains in media, metal, pharma and realty provided mild support to the broader indices, while losses in energy, FMCG, IT, banking and auto dragged indices further down.


     

  • 09:42 IST

    Global equities trade in red

    Globally investors awaited new developments toward and paused on bullish optimism over trade deal between the United States and China. On back of this, US top indices closed lower yesterday and asain markets too opened lower.

     

  • 09:42 IST: Globally investors awaited new developments toward and paused on bullish optimism over trade deal between the United States and China. On back of this, US top indices closed lower yesterday and asain markets too opened lower.

     

  • 09:41 IST

    Opening Bell : Market opens higher

    Amid Q2 earnings season, equity market in India has started on a weak note today, amid globally beaish traded stocks. Sensex at the opening bell started mildly bullish at a rise of 100 points to 40,311.85 against last closing of 40,200 and Nifty 50 started the day's trade at 11,911.50, 11 points higher to 11,900 closing.

  • 09:41 IST: Amid Q2 earnings season, equity market in India has started on a weak note today, amid globally beaish traded stocks. Sensex at the opening bell started mildly bullish at a rise of 100 points to 40,311.85 against last closing of 40,200 and Nifty 50 started the day's trade at 11,911.50, 11 points higher to 11,900 closing.

  • 09:41 IST

    Market closed lower on Tuesday

    Benchmark indices Sensex and Nifty snapped their seven-session winning streak to close lower on Tuesday. While Sensex lost 53 points to 40,248, Nifty  closed 24 points lower at 11,927.

    Read more

  • 09:41 IST: Benchmark indices Sensex and Nifty snapped their seven-session winning streak to close lower on Tuesday. While Sensex lost 53 points to 40,248, Nifty  closed 24 points lower at 11,927.

    Read more