MARKET WRAP: Sensex surges 449 points on buying in financial, FMCG counters

All that happened in the markets today

3:44 PM

SECTOR WATCH | Nifty Bank gains over 3%

3:43 PM

MARKET AT CLOSE | Gainers and losers on the BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex gained 449 points, or 1.12 per cent to settle at 40,432 levels while the NSE's Nifty50 index ended at 11,873, up 111 points, or 0.94 per cent.

3:29 PM

MARKET CHECK

3:23 PM

FM asks 14 CPSEs to spend 75% of Rs 1.15 trillion capex by December end

Finance Minister Nirmala Sitharaman on Monday asked officials to ensure that 14 state-owned companies spend 75 per cent of their capital outlay for the year by the end of December. This is because the government looks to maintain the pace of capital and infrastructure projects in a bid to soften the economic blow from the pandemic. READ MORE 

 

3:14 PM

BSE PSU index surges 2.5%

3:05 PM

Amber Enterprises zooms 28% in 2 days after govt ban on import of ACs with refrigerants

Shares of Amber Enterprises India rallied 17 per cent to Rs 2,545 on the BSE on Monday, zooming 28 per cent in two days after the government banned the import of air conditioners with refrigerants. The consumer electronics company's stock was trading at its fresh record high level. READ MORE  

3:00 PM

Index contributors at this hour

2:51 PM

Sept Quarter Result | CSB Bank's Q2 net profit grow to Rs 68.9 cr from Rs 24.7 cr YoY

>> NII improves 55% YoY to Rs 229.3 cr from Rs 147.1 cr

>> Gross NPA reduces to 3.04% Vs 3.15% QoQ

>> Net NPA at 1.30% vs 1.74% QoQ

2:47 PM

Q&A :: We've increased cash in portfolio to guard against event risks, says J Jaipuria

Though increased restrictions in Europe and the pending outcome of the US presidential election will keep the markets choppy, JYOTIVARDHAN JAIPURIA, founder of Valentis Advisors, tells Puneet Wadhwa the markets will see positive returns in the second half of the financial year and the year after.  READ FULL INTERVIEW HERE

Jyotivardhan Jaipuria, Founder and managing director, Valentis Advisors

2:41 PM

MARKET CHECK | Sensex trades over 1% higher

2:32 PM

HUL Q2 preview: Revenue may rise up to 19% YoY on GSK Consumer acquisition

Hindustan Unilever (HUL), the fast-moving consumer goods (FMCG) bellwether, is slated to announce its September quarter results (Q2FY21) on Tuesday, October 20. In the FMCG sector, analysts expect a strong recovery in both essentials and discretionary categories. However, products focused on premium price and out-of-home consumption will continue to face growth headwinds, they say. READ MORE 

2:24 PM

Bharti Airtel hits seven-month low in a strong market; down 20% in 1 month

In the past one month, the stock has slipped 20 per cent, as compared to 3.8 per cent rise in the S&P BSE Sensex. Notably, Bharti Airtel's share price has declined sharply, by around 30 per cent, since the Adjusted Gross Revenue (AGR) verdict on September 1, 2020. READ MORE

2:15 PM

Centre asks at least eight state-run companies to consider buybacks: Report

Indian government has asked at least eight state-run companies to consider share buybacks in the current fiscal year that runs through March, 2021, two government officials said. READ MORE

2:04 PM

Rupee Closing

Rupee ends mildly lower at 73.37 per US dollar vs Friday's close of 73.34/$

2:00 PM

Equitas Small Finance Bank IPO: Near-term risks may limit listing gains

After two hiatuses, the initial public offer (IPO) of Equitas Small Finance Bank is set to open on Tuesday, October 20 with a price band of Rs 32-33 per share. At the upper price limit, the bank intends to raise up to Rs 517.6 crore to augment its tier-I capital base to meet the future capital requirement. Equitas SFB had earlier planned to raise Rs 1,000 crore through the IPO, but later reduced the size due to its “comfortable capital adequacy ratio” and “in view of the current market condition”. READ MORE

1:45 PM

NEWS ALERT :: Finance Minister holds meeting on capex plans for FY21

1:44 PM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
CENTRAL BANK	11.23	9.99
BANK OF MAHA	12.15	9.16
AMBER ENTERP.	2350.00	7.79
IIFL FINANCE	80.85	7.09
BANK OF BARODA	43.05	6.69

1:38 PM

Sept Quarter Result | Hatsun Agro's Q2 profit jumps from Rs 25 cr to Rs 66 cr YoY

>> Board approves issue of bonus shares

1:32 PM

Cosmo Films surges 9% as Board to consider share buyback plan

Rs 468 on the BSE on Monday after the company announced a share buyback plan. "A meeting of board of directors of the Company is scheduled to be held on Monday, October 26, 2020 to consider the proposal for buy-back of equity shares of the Company and other matters necessary/incidental thereto," Cosmo Films said in a exchange filing today. READ MORE

1:22 PM

Sept Quarter Result | Bank of Maharashtra posts net profit at Rs 130 cr

>> Loan growth at 21.3% YoY

>> Net interest income at Rs 1,120 cr

>> NNPA at 3.3%, GNPA at 8%

1:17 PM

European indices start on a strong footing

1:09 PM

RESULTS TODAY:: Here's what analysts expect from Britannia's Q2FY21 results

Analysts at Edelweiss Securities estimate Britannia’s revenue, earnings before interest, taxes, depreciation, and amortisation (EBITDA) and net profit (PAT) to jump 15 per cent, 31.8 per and 23.8 per cent year-on-year (YoY), respectively. It expects the company to post volume growth of nearly 12 per cent YoY on a base of 3 per cent (Q1FY21 saw 21.5 per cent volume growth on a base of 3 per cent). "On the margin front, raw material trend is benign and that combined with operating leverage and cost efficiencies will aid EBITDA margin; hence, we estimate 240bps YoY margin expansion," the brokerage said in a result preview note. READ MORE

12:57 PM

DMart sales recover from June lows though volumes remain sub-par

While sales were down 12 per cent lower than year ago quarter it was better than the 34 per cent dip reported in the June quarter. Led by sales of staples and fast moving consumer goods (FMCG), the company achieved over 87 per cent of the sales in September as compared to the year ago period. READ MORE

12:47 PM

Consistent revenue growth to remain key for Mindtree stock: Experts

The Mindtree stock was one of the biggest losers among mid-cap IT companies, shedding nearly 7 per cent in trade on Friday. The dip in stock value was due to lower-than-expected revenue performance in the September quarter, weak deal wins, and higher exposure to Covid-19-hit verticals. Though dollar revenue growth of 3.1 per cent on a sequential basis in the quarter was broad-based, it was lower than Street estimates. READ MORE

12:35 PM

NEWS ALERT | Blackstone looks set to acquire L&T MF for approx Rs 3,200 cr

Blackstone looks set to acquire L&T MF for approx Rs 3,200 cr after both Blackstone & L&T Fin resolve valuation mismatch

(As per CNBC-TV18 report)

12:31 PM

Jet Airways extends gain after CoC nod for revival plan; up 47% in 8 days

Shares of Jet Airways (India) hit the upper circuit of 5 per cent at Rs 42.15 on the BSE on Monday, after the committee of creditors (CoC) of the company approved the resolution plan of consortium of Kalrock Capital–Murari Lal Jalan. The stock was trading higher for the eight straight day and has rallied 47 per cent as compared to 2 per cent decline in the S&P BSE Sensex during this period. Till 11:19 am, a combined around 24,000 shares changed hands and there were pending buy orders for 2.28 million shares on the BSE and NSE. READ MORE

12:24 PM

Top losers on the BSE at this hour

12:16 PM

Recovery of shadow banks in doubt as lenders take a hit from Covid-19

Signs of a recovery for India’s troubled shadow banks have taken a step backward as concerns reemerged about the true impact of the pandemic on the lenders. Average spreads on the lenders’ AAA rated five-year bonds rose for the first time in four months in September. Of three other gauges tracking shadow bank sector health compiled by Bloomberg, two including banking system liquidity and outstanding debt weakened, while a share performance index stayed put. READ MORE

12:08 PM

MARKET UDATE | GAIL up over 3%