MARKET: Sensex slips 433 pts ahead of AGR hearing; Nifty Bank down over 2%

All that happened in the markets today

3:40 PM

Nifty sectoral indices at close

3:39 PM

Heatmap: Top Sensex gainers and losers at close

3:37 PM

CLOSING BELL

The S&P BSE Sensex ends 433 points, or 1.13 per cent, lower at 37,877 while NSE's Nifty ends at 11,178, down 122 points or 1.08 per cent. 

3:21 PM

AGR Case :: Batting for spectrum as an asset of the telco, SBI tells SC

>> SBI has clarrified that CoC has complete autonomy to decide who gets how much. 

 

>> SBI has clarrified that operational creditors (like the DoT) cant be paid at par with financial creditors.

Alert: CoC is Committee of Creditors

(Source: TV Reports)

3:16 PM

NEWS ALERT :: AGR hearing begins

3:12 PM

NEWS ALERT :: 10-yr govt bond yield rises from 5.86% to 5.95%

3:09 PM

Telecom stocks in focus

COMPANY	LATEST(rs)	CHG(%)
VODAFONE IDEA	8.86	-1.99
BHARTI AIRTEL	530.25	-1.01
TATA COMM	816.55	5.00

2:58 PM

Bank stocks crack; Nifty Bank index declines over 3%; Axis Bank, BoB dip 4%

Banking stocks cracked at the bourses in the later afternoon session on Friday, dragging the benchmark indices S&P BSE Sensex and NSE's Nifty50 nearly 1 per cent lower. Nifty Bank index declined 3.3 per cent to trade at 21,459 level on the NSE and was trading as the top sectoral loser. Nifty PSU Bank and Nifty Financial Services indices were down around 3 per cent each at 2:30 pm. READ MORE

2:54 PM

Ramco Cements slips over 2.5% as Q1 PBT drops 43% to Rs 157.5 crore

Ramco Cements shares declined over 2.7 per cent on the BSE on Friday after the company reported a profit before tax (PBT) of Rs 157.50 crore for the quarter ended June 30, 2020, down 43 per cent against Rs 279.93 crore profit in the year-ago period. Revenue dropped 24 per cent YoY to Rs 1,056.79 crore from Rs 1,396.82 crore. READ MORE

2:51 PM

Hindalco dips 1.5% on Rs 709 crore loss in June quarter

Shares of Hindalco Industries slipped 1.5 per cent to Rs 180.65 on the BSE on Friday aftet the company reported its June quarter result.The company reported loss of Rs 709 crore in the recently concluded quarter, as against a profit of Rs 1,063 crore in the year-ago period. Sequentially, the profit was Rs 668 crore in the March quarter of FY20. That apart, its revenue from operations skid from Rs 29,972 crore in Q1FY20 to Rs 25,283 crore in the June quarter of this fiscal. EBITDA came in at Rs 2,359 crore, down from Rs 3,769 crore reported in the corresponding quarter of the previous fiscal. READ MORE

2:46 PM

SECTOR WATCH:: Nifty Bank index tumbles nearly 900 points from day's high

2:40 PM

MARKET UPDATE:: HDFC twins, ICICI Bank top contributors to Sensex's sharp fall

2:34 PM

INDEX LOSER:: HDFC Bank slips 2.6%

2:23 PM

MARKET CHECK

2:17 PM

Massive sell-off in the markets

2:06 PM

Rupee Closing

Rupee ends weaker at 74.90 per US dollar vs Thursday's close of 74.84/$

2:00 PM

Markets at 2 pm

>> Sharp slide seen in markets. S&P BSE Sensex slides 380 points, or 1 per cent, at 37,929 level.

>> NSE's NIfty50 is down 112 points, or 1 level, at 11,188 level.

1:58 PM

Parag Milk Foods up 7% on launching a new product in its premium category

Parag Milk Foods, which runs brands such as ‘Gowardhan’, ‘Go’, ‘Pride of Cows’ (POC), ‘Avvatar’ today launched Pride of Cows Curd, Full of Love. "Pride of Cows Curd is made from pure Pride of Cows milk and is derived from the Company’s own farm. The curd will be delivered to the consumer’s doorstep through a completely contact-free process that involves a full automated milking and production system and a cold chain network that maintains a constant temperature throughout in order to retain the curd’s flavor and aroma," the company said in its press release. READ MORE

1:48 PM

Ahead of AGR case hearing :: Bharti Airtel trades flat, Tata Comm up 5%

The S&P BSE Telecom index advanced 0.2 per cent as compared to the benchmark S&P BSE Sensex's 0.32 per cent gain. Tata Communications, Optiemus Infracom Ltd (both up 5%) and Reliance Communication (up 4%) were the top index gainers. READ MORE

1:40 PM

MARKET CHECK :: Sensex turns negative

1:31 PM

Balkrishna Ind drops 5% post weak Q1 result; declares dividend of Rs 3/sh

Besides, its consolidated net revenue stood at Rs 942.61 crore, down 21.38 per cent on a yearly basis, from Rs 1,198.93 crore in Q1FY20. EBITDA came in at Rs 240.43 crore in Q1FY21, registering a de-growth of 10.3 per cent YoY from Rs 268.04 crore reported last year. EBITDA margin, on the other hand, improved to 25.51 per cent up 3.15 per cent YoY. READ MORE

1:23 PM

Strong US portfolio to drive revenue growth for Aurobindo Pharma

Aurobindo’s June quarter performance was in line with Street estimates, led by a steady growth in its US business. The geography, which accounts for 52 per cent of its revenues, posted a 16 per cent growth in revenue.

 

Higher growth in oral solids and dietary supplements, which account for 80 per cent of the total revenue, bodes well for the firm. Though US revenues were better than estimates, growth on a sequential basis came in just under 4 per cent, pegged back by elective surgeries, which were postponed because of the Covid-19 pandemic. READ MORE

1:09 PM

June Quarter Result :: Voltas posts consolidated profit at Rs 82 cr vs Rs 166 cr YoY

>> Revenue at Rs 1,364 cr vs Rs 2,697 cr YoY

1:06 PM

MARKET CHECK:: Top 5 gainers on the BSE at this hour

1:05 PM

June Quarter Result :: Ramco Cement reports profit of Rs 109.6 cr

>> Revenue at Rs 1,041.8 crore

>> EBITDA at Rs 260 crore

>> EBITDA margin at 25%

12:55 PM

Motherson Sumi: Declining losses at greenfield plants to aid margins

The Motherson Sumi stock has surged 20 per cent over the past week on expectations of revenue recovery and lower losses at its greenfield plants. While consolidated revenue in the June quarter was down 49 per cent over the year-ago levels, the company expects the sales trend to improve and reach pre-Covid levels by the December quarter. READ MORE

12:46 PM

BUZZING STOCK:: Mahindra Life surges nearly 12%

12:30 PM

BROKERAGE VIEW:: Anand Rathi Shares on Kalpataru Power

Despite Covid disruptions, Kalpataru Power posted better-than-expected results. Its healthy order book and execution ramp-up at various sites helped management remain upbeat and maintained its 5-10% revenue growth and 10.5-11% EBITDA margin guidance for FY21. Also, it is confident of bagging orders of `90bn-100bn. In accordance with the better-than-expected Q1 and healthy order backlog of Rs 135bn, we have raised our revenue and margin. The ongoing monetisation of transmission assets is likely to significantly de-lever the balance sheet. We maintain a Buy with a higher sum-of-parts-based TP of Rs 385 (earlier Rs 344).

12:19 PM

MARKET CHECK:: eClerx Services continues to soar; rallies another 13% in today's session

12:07 PM

NEWS ALERT :: July Wholesale Price Index-Inflation comes in at (-)0.58%

>> It was (-)1.81% in June, 2020

>> It was 1.08% in July, 2019