F&O Expiry: Sensex tanks 285 pts, Nifty holds 12,000; RIL down 2.5%, SBI 2%

All that happened in the markets today

3:42 PM

Sectoral trends on NSE at close

3:41 PM

Sensex heatmap at close

3:41 PM

Closing Bell

>> The benchmark S&P BSE Sensex settled off day's low, but was still down 284.84 points, or 0.69 per cent, at 40,913.82 level.

>> On the NSE, the Nifty50 managed to hold the 12,000-mark, and closed at 12,035.80 level, down 93.70 points or 0.77 per cent.

3:25 PM

Pharma companies can draw $30 bn revenue from US market by tapping 10 drugs

Domestic pharma companies have the potential to grow their revenue from the US by almost five times at around $30 billion from $6.5 billion in 2018 if they properly tap just 10 of the widely consumed drugs in the world's largest drug market, according to an analysis by the World Trade Centre. READ MORE

3:04 PM

Earnings Alert | Indian Oil Corporation Q3 results

>> Standalone net prodit at Rs 2,339 crore

>> Standalone revenue at Rs 1.24 lakh crore

3:01 PM

NEWS ALERT | Govt intimates about appointing bankers for 15% stake sale via OFS in HAL: Exchange filing

2:52 PM

Small-cap funds are witnessing an upswing, are they in revival mode?

Small-cap funds, which performed poorly in 2019, are witnessing an upswing. They are up 9.6 per cent on an average over the past three months. One reason for this sound performance is that large-cap funds have done well over the past year. READ MORE

2:51 PM

MARKET CHECK:: Sensex off day's low

2:39 PM

NEWS ALERT | LIC Housing Q3 net profit at Rs 597.5 cr; revenue up 12.6% YoY at Rs 4,996.5 cr

2:33 PM

Global Markets check

Asian stocks and currencies tumbled further on Thursday, as the rising death toll from a virus spreading from China led airlines to cut flights and stores to close, increasing pressure on the world’s second-largest economy as fears of a pandemic grow.

European stocks are also set to fall. EuroSTOXX 50 futures and DAX futures are down 0.8 per cent. FTSE futures point to a negative open in London. US stock futures, down 0.6 per cent, suggest a negative open on Wall Street.

 

The number of confirmed deaths from the virus in China has climbed to 170 with 7,711 people infected, and more cases are being reported around the world.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 2 per cent to a seven-week low and has now dropped for six straight sessions. Japan's Nikkei fell nearly 2 per cent. Hong Kong's Hang Seng fell 2.3 per cent and Taiwan's benchmark index slumped 5.8 per cent in its first session since the Lunar New Year break.

2:26 PM

Godrej Consumer slips 8% post December quarter results

Shares of Godrej Consumer Products (GCPL) slipped 8 per cent to Rs 681 on the BSE as the company’s December 2019 quarter (Q3YF20) performance was in-line with the market’s expectations. The stock erased its entire gain recorded during January. On consolidated basis, GCPL’s net sales grew 2.1 per cent year- on-year (YoY) to Rs 2,778 crore while its profit after tax (PAT) increased 7.7 per cent YoY to Rs 450 crore. Volume growth stood at 7 per cent on a favourable base (1 per cent in Q3FY19). READ MORE

2:24 PM

Earnings Alert | Dabur Q3 result

>>  Consolidated net profit at Rs 400 crore

>> Cons revenue at Rs 2,353 crore

>> Cons EBITDA at Rs 493 crore; margin at 21%

2:15 PM

HUL Q3 preview: Weak rural growth may hit performance; Volumes to grow 4%

Weak rural growth is expected to adversely impact financial performance of the FMCG (fast moving consumer goods) bellwether Hindustan Unilever (HUL) for the third quarter of the financial year 2019-20 (Q3FY20) as rural sales contributes a sizeable portion of its overall sales in addition to shift towards lower priced alternatives. The company is slated to announce its December quarter results Friday. READ MORE

2:07 PM

All Nifty sectoral indices in the red

1:57 PM

SBI Q3 preview: Profit could take hit due to DHFL, interest income may rise

Despite resolution of Essar Steel, State Bank of India (SBI) may report subdued December quarter (Q3FY20) numbers as analysts expect slippages to rise courtesy Dewan Housing Finance Corp Ltd (DHFL). They, however, expect operating performance in terms of net interest income (NII) to improve during the recently concluded quarter. The bank is slated to report its Q3FY20 earning on Friday, January 31. READ MORE

1:43 PM

RESULT UPDATE:: Colgate Q3 net profit up 9% YoY at Rs 199.1 crore; volume growth 2.3%

1:43 PM

BROKERAGE RADAR | ICICI Securities on Escorts

At Escorts, we expect sales, PAT to grow at FY20-22E CAGR of 10.2%, 14.7%, respectively. Pace of EAM recovery is likely to be sedate with margins remaining under check given lack of strong volume led growth. We value the company at | 810 using SOTP method, assigning 12.5x multiple to core FY22E EPS of | 51.9 and ascribing 25% holding company discount to treasury shares held by the company, arriving at HOLD rating on the stock.

1:32 PM

BROKERAGE RADAR | HDFC Securities on CDSL

CDSL has a diversified revenue stream, ~35% of the revenue is annuity in nature and ~42% is market linked (Transaction, IPO/corporate action and KYC). The opportunity related to demat of ~60K unlisted public companies is unfolding and hike in Annual issuer charges is also due in FY21E. Transactions charges/KYC revenue will revive with retail participation and improved market sentiments. New revenue streams like NAD and e-warehouse receipts are future growth drivers. We expect revenue/EBIT/PAT to grow at a CAGR of 13/10/10% over FY19-22E. Net cash stands at Rs 6.50bn (~23% of Mcap) and the company trades at a P/E of 22/19x FY21/22E earnings. Risks include regulatory changes, market slowdown and increase in competition.

1:28 PM

Bajaj Auto Q3 net profit surges 8% to 1,322 cr, beats street expectations

Bajaj Auto on Thursday posted 8.32 per cent year-on-year (YoY) rise in consolidated net profit at Rs 1,322.44 crore for the quarter ended December 2019. It had posted a net profit of Rs 1,220.77 crore in the corresponding quarter last year. Total revenue from operations grew 2.74 per cent to Rs 7,639.66 crore from Rs 7,435.80 crore in the year-ago quarter. READ MORE  

1:04 PM

MARKET CHECK:: Sensex extends fall; index down 300 pts now

12:54 PM

Escorts rallies 8% post Q3 results, zooms 90% from 52-week low

Shares of Escorts rallied 8 per cent on Thursday to hit nearly 10-month high of Rs 806 on the BSE on expectation of a gradual turnaround in tractor industry volumes, supported by a low base and improving rural sentiments. The stock was trading at its highest level since April 1, 2019. The market price of Escorts has rallied 90 per cent from its 52-week low level of Rs 423, touched on August 23, 2019. READ MORE

12:35 PM

India and China account for 80% drop in gold jewellery demand in December quarter

India and China, the world's two biggest gold consumers, accounted for an 80 per cent drop in demand in the fourth quarter of calendar 2019 on the back of rising yellow metal prices and soft economic conditions, according to the World Gold Council's latest report. China’s Q4 jewellery demand was 10 per cent lower on a y-o-y basis at 159.7 tonnes, while the full-year 2019 demand slipped 7 per cent to 637.3 tonnes.

12:16 PM

BSE500 stocks that hit 52-week high today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
AVENUE SUPER.	2015.95	2019.80	41.95	2.13
BAJAJ FIN.	4412.00	4485.75	-9.75	-0.22
BERGER PAINTS	568.75	579.70	-4.30	-0.75
INFO EDG.(INDIA)	2797.30	2851.45	-37.70	-1.33
IRCON INTL.	472.50	498.00	-12.20	-2.52

12:02 PM

Nifty sectoral indices at this hour

11:49 AM

Macquarie downgrades RIL to 'underperform'; says will buy around Rs 1,200

Reliance Industries (RIL) shares declined nearly 2 per cent on Thursday, after the global brokerage firm Macquarie downgraded the stock to 'underperform' saying most of the positives are already priced in. At 11:06 am, the stock partly recopued morning's loss and was trading over 1 per cent lower at Rs 1,459 apiece on the BSE as compared to 0.67 per cent slide in the benchmark S&P BSE Sensex. READ MORE

11:41 AM

Avenue Supermarts hits fresh all-time high, gains 5% in two days

Shares of Avenue Supermarts, which owns and operates the DMart supermarket chain, hit an all-time high of Rs 2,020, up 2 per cent on the BSE on Thursday in an otherwise weak market. The stock surpassed previous high of Rs 2,011 touched on October 31, 2019. It has gained 5 per cent in the past two trading days. In comparison, the S&P BSE Sensex was down 0.52 per cent, or 216 points, at 40,982 at 10: 52 am. READ MORE

11:21 AM

India's gold demand expected to rebound from 3 year low: World Gold Council

India's gold demand is expected to rebound in 2020 as the government seeks to bolster consumer confidence and spending power to revive Asia's third-biggest economy, the World Gold Council (WGC) said on Thursday. A rise in consumption by the world's second-biggest gold buyer would further boost global prices, which scaled a near seven-year high earlier this month, but could widen India's trade deficit and pressure the rupee. READ MORE

11:18 AM

NEWS ALERT | L&T constructions bags order for water treatment project in the range of Rs 2,500-5,000 cr: BSE filing

The Water & Effluent Treatment Business of L&T Construction has secured a EPC order from Narmada Valley Development Authority (NVDA), Government of Madhya Pradesh to execute the Indira Sagar - Parwati Phase III Et IV Lift Micro Irrigation Project. 

11:15 AM

Emami Ltd slides 5%

11:14 AM

Market check | Weakness in markets ahead of F&O expiry today