MARKET: Sensex slips 422 pts amid a sell-off in RIL; Nifty ends at 11,203

All that happened in the markets today

3:44 PM

SECTOR WATCH:: Nifty Pharma rallies over 3%

3:43 PM

MARKET AT CLOSE:: Losers and gainers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex slipped 422 points or over 1 per cent to settle at 38,071 while NSE's Nifty ended at 11,203, down 98 points or 0.86 per cent. 

3:23 PM

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

3:12 PM

BUZZING STOCK:: IndusInd Bank gains over 5%

3:05 PM

NEWS ALERT :: Kiran Koteshwar resigns as SpiceJet's CFO w.e.f September 1, 2020

(Via BSE filing)

3:04 PM

March Quarter Result :: SpiceJet reports standalone net loss of Rs 807 crore

>> Total revenue from operations at Rs 2,863.85 crore

3:01 PM

INDEX LOSER:: RIL tumbles 4%

2:50 PM

MARKET CHECK:: Sensex extends fall

2:42 PM

MARKET CHECK

2:41 PM

Market is opening up gradually, Q2 looks much better: TVS Motor Chairman

Sales drop will be one of the biggest in the Indian industry, be it automotive or engineering manufacturing industry, said Srinivasan.
 

However, he said that the market is opening up gradually after the lockdown. He expects the market to overcome the supply chain problem during the second quarter of the year. READ MORE

2:35 PM

Maruti Suzuki reports consolidated loss of Rs 268.3 crore for June quarter

Auto major Maruti Suzuki on Wednesday reported a consolidated loss of Rs 268.3 crore for June quarter of FY21 (Q1FY21) as compared to profit of 1,376.8 crore reported in the corresponding quarter last year. The company attributed the outbreak of Covid-19 pandemic and the consequent lockdown announced to contain it for adversely impacting its numbers. READ MORE 

2:29 PM

UPDATE :: Markets sharply lower; Nifty hovers around 11,200

2:22 PM

Dr Reddy's Labs rallies 4% to hit a record high on healthy Q1 numbers

Shares of Dr Reddy’s Laboratories hit a record high of Rs 4,224, up 4 per cent on the BSE on Wednesday after the company reported a better-than-expected net profit of Rs 579 crore in April-June quarter (Q1FY21), on the back of strong revenue growth. The pharmaceutical company had posted a profit of Rs 663 crore in the year-ago period. The stock surpassed its previous high of Rs 4189.35, touched on June 10, 2020. READ MORE 

2:14 PM

June Quarter Result :: Maruti Suzuki reports net loss of Rs 249 crore

>> Revenue at Rs 4,107 crore

>> EBITDA loss at Rs 863 crore

2:10 PM

MARKET UPDATE :: Sensex extends decline, down over 300 pts

2:07 PM

Rupee Closing

Rupee ends higher at 74.80 per US dollar vs Tuesday's close of 74.84/$

1:58 PM

COMMENT :: Rahul Gupta, Head of Research- Currency, Emkay Global

The USD/INR spot is trading in a very narrow range of 74.75-75. Today's US Fed policy will provide some clarity over the trend. We don't expect a rate action by the Fed today. If the-policy turns out to be ultra-easy, then we can see some fall in the dollar index and may get reflected in USD/INR spot. However, in our view, the policy will be a reiteration of past measures. So, 74.50 will keep acting as crucial support while 75 will act as immediate resistance. Unless 75 breaks, we will see the spot trading in between 74.50-75

1:56 PM

Insurance companies turn net buyers of equities after eight years

Insurance companies have turned net buyers of Indian equities after eight years. So far this year, domestic institutional investors (DIIs) have purchased stocks worth Rs 80,000 crore, of which mutual funds (MFs) account for Rs 33,700 crore, implying net buying by insurers.

 

Market watchers say this buying has provided heft to the market at a time when foreign portfolio investor (FPI) flows have been choppy and MF investments have moderated owing to a slowdown in investor flows into equity schemes. READ MORE

1:48 PM

MARKET CHECK

1:41 PM

IPO UPDATE:: Mindspace Business Parks REIT offer subscribed 3.65x so far on Day 3

1:39 PM

Jet Airways loss widens to Rs 5,536 crore in 2018-19 over surge in expenses

The full service carrier, which shuttered operations in April last year, had a loss of Rs 766.13 crore. These figures are for standalone comprehensive losses.

 

In 2018-19, the airline's total income declined to Rs 23,314.11 crore from Rs 23,958.37 crore in the year-ago fiscal, according to a regulatory filing. READ MORE

1:32 PM

June Quarter Result :: Dr Reddy's Labs reports profit of Rs 579 crore

>> Revenue at Rs 4,418 crore

>> EBITDA at Rs 1,162.2 crore 

>> EBITDA margin comes in at 26.3%

1:24 PM

Covid-19 provisioning erodes 25% operating profits of top 5 pvt banks in Q1

With the additional provisioning in Q1, total Covid-19 provisioning of this set of lenders, as of June 2020, stood at 0.7 per cent of their total advances, on aggregate level, more than double in the previous quarter (around 0.3 per cent). However, provisioning has gone up, it is likely to remain higher in the near term. READ MORE

1:15 PM

IndiGo to report June quarter result today; here's what analysts expect

Analysts at Motilal Oswal Financial Services expect de-growth in revenue passenger kilometer (RPK) – a metric that shows the number of kilometers traveled by paying passengers -- by 88 per cent YoY/QoQ at Rs 260 crore due to ban on air travel. Additionally, it expects yields to decline by 10 per cent YoY and 2 per cent sequentially to Rs 370 crore. READ MORE

1:06 PM

June Quarter Result :: Colgate Palmolive's net profit grows to Rs 198 crore

>> Revenue comes in at Rs 1,040.6 crore

>> EBITDA margin comes in at 29.6%

>> EBITDA improves to Rs 308 crore from Rs 299.8 crore YoY

1:00 PM

Nifty PSU Bank index rallies 4% ahead of PM Narendra Modi's review meeting

Shares of public sector banks were in focus on Wednesday ahead of Prime Minister Narendra Modi's scheduled meeting with the chief executives of state-owned and private banks. Nifty PSU Bank index gained as much as 3.7 per cent in an otherwise subdued market in the intra-day trade today, while Nifty Bank index added 1 per cent. READ MORE

12:51 PM

India's business outlook worsening, RBI may cut rates again

The outlook for India's reeling economy has worsened again as business activity slows and Covid-19 infections soar, and will probably prompt the Reserve Bank of India to cut interest rates again soon, a Reuters poll of economists suggests. The latest findings echo recent criticism of New Delhi's $266 billion economic rescue package, which does not include new spending, tax breaks or cash support, suggesting more will be needed to turn the economy around. READ MORE

12:40 PM

BUZZING STOCK:: Adani Gas zooms 8%

12:38 PM

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