MARKET WRAP: Sensex down 190 pts, Nifty below 12K-mark ahead of Budget FY21

All that happened in the markets today

3:43 PM

Nifty snapshot at close

3:42 PM

Sensex heatmap at close

3:42 PM

Closing Bell

>> The benchmark S&P BSE Sensex ended the day near day's low, at 40,723.49 level, down 190.33 points or 0.47 per cent

>> On the NSE, the Nifty50 breached below the crucial 12,000-mark and settled at 11,961.65 level, down 74.15 points or 0.62 per cent

3:27 PM

Earnings Alert | Tech M Q3 result

>> Tech Mahindra Q3 net profit at Rs 1,146 cr

3:21 PM

MARKET CHECK | ONGC trades near day's low

3:19 PM

MARKET COMMENT | Deepthi Mary Mathew, Geojit Financial Services on Economic Survey

The Survey highlights the difficult fiscal situation ,and possible crowding out of private investors due to the increased market borrowing by the government. However, the survey also stresses the need for relaxation of fiscal deficit target for the current year to stimulate growth in the economy. In this background, it is expected that the fiscal deficit target for FY21 would also settle at a higher range. It is welcoming that the survey emphasizes the need for improving the business climate that would aid the economy to achieve the target of $5trillion.

3:17 PM

BROKERAGE RADAR | HDFC Securities on Dabur

Dabur has outperformed in a tough environment as its brand building initiatives are beginning to pay dividends. Mohit Malhotra is focusing on (a) Scaling power brands (8 brands with 65% revenue mix) which have a large addressable opportunity, (b) Deeper rural penetration led by higher direct reach (targeting 55k/60k villages in FY20/21) and (c) Innovation of new products. We remain optimistic for Dabur and expect co will be opportunistic in the rural recovery.

2:58 PM

NEWS ALERT | ITI extends FPO bid/issue date till Feb 5

2:46 PM

Marico slips 6%, hits 52-week low on disappointing December quarter results

Shares of Marico slipped 6 per cent to Rs 318 on the BSE on Friday after it reported 5 per cent year-on-year (YoY) decline in its domestic business revenue at Rs 1,380 crore in December quarter (Q3FY20), amid the bleak consumption sentiment, especially in rural area. The India business recorded a volume decline of 1 per cent. READ MORE

2:40 PM

NEWS ALERT | Have seen strong growth in retail advances: SBI chief

-- Will be moving to 25% corp tax rate regime by next quarter
 

-- Bank saw very good recovery from Essar 

-- One large HFC slipped in Q3

-- Have seen strong growth in retail advances

2:33 PM

Economic Survey calls for $1.4 trillion infra spending during FY2020-2025

To spur economic growth and achieve $5 trillion economy, India needs to spend about $1.4 trillion on the infrastructure sector during FY2020-2025, the Economic Survey tabled in Parliament said on Friday. Investment in infrastructure is necessary for the economy, as power shortages, inadequate transport and poor connectivity affects overall growth performance, as per the Economic Survey 2019-20, tabled in Parliament by Union Finance and Corporate Affairs Minister Nirmala Sitharaman. READ MORE

2:22 PM

Wealth creation benefits everyone: CEA

2:21 PM

MARKET CHECK | Sensex back in the green

2:20 PM

NEWS ALERT | Firms that borrowed a lot during 2008-12 invested less during 2013-17: CEA

2:19 PM

NEWS ALERT | The economic slowdown since 2017 has been due to the lagged effect of reduced investment from 2013 which occurred due to credit boom-bust: CEA

2:19 PM

NEWS ALERT | Wealth creation benefits all and invisible hand of the market enables wealth creation: Subramanian

2:18 PM

NEWS ALERT | Indiabulls Real Estate board OKs merger of some residential and commercial projects of embassy properties

2:14 PM

NEWS ALERT | Wealth created by entrepreneurs directly correlates to taxes collected: CEA Krishnamurthy Subramanian

2:12 PM

2:07 PM

NEWS ALERT | Chief Economic Adviser Krishnamurthy Subramanian briefs the media on Economic Survey 2020

1:59 PM

SBI Q3 result: Lender logs 41% YoY rise in profit at Rs 5,583 cr; NPAs dip

State Bank of India (SBI) Friday posted a 41.17 per cent year-on-year growth in the standalone net profit at Rs 5,583.36 crore for the December quarter of FY20 (Q3FY20). During the December quarter of FY19, the bank had posted a net profit of Rs 3,955 crore. Sequentially, the net profit grew 85.38 per cent, from a profit of Rs 3,012 crore reported in the September quarter of the current fiscal (Q2FY20). READ MORE

1:57 PM

SBI gains 2% post Q3 results announcement

1:46 PM

RESULTS UPDATE:: SBI Q3 net profit at Rs 5,583 cr; NII at Rs 27,779 cr

-- Net NPA at 2.65%
 

-- Gross NPA at 6.94% vs 7.19%

-- NII at Rs 27,779 cr

-- Gross NPA at Rs 1.59 lakh cr

1:33 PM

Economic Survey pegs India's FY20 growth at 5%, expects rebound in FY21

The Economic Survey on Friday projected India's economic growth at 6 per cent to 6.5 per cent in the next financial year starting April 1, saying growth has bottomed out. The growth in 2020-21 compares to a projected 5 per cent expansion in 2019-20. Weak global growth impacting India as well as investment slowdown due to financial sector issues had led to growth dropping to a decade low in current fiscal, it said, adding 5 per cent growth projected for 2019-20 is the lowest it could fall for now. READ MORE

1:33 PM

Market check

1:22 PM

RESULTS CORNER:: Kansai Nerolac consolidated Q3 net profit up 9% at Rs 115.8 crore vs Rs 106.2 crore (YoY)

-- Revenue down 6.7% YoY to Rs 1,331.9 crore vs Rs 1,428.1 cr
 

-- Ebitda up 9.3% at Rs 197.7 cr
 

-- Ebitda margin 14.8% vs 12.7%

-- Other income at Rs 10.6 cr vs Rs 20.1 cr

1:17 PM

Consumer discretionary stocks in focus; Orient Electric, Dixon hit new high

Shares of consumer discretionary goods & services (CDGS) companies were in focus with 11 stocks from the S&P BSE CDGS index hitting their respective 52-week highs on Friday in an otherwise weak market after reporting a healthy set of numbers in the December quarter. Of these, seven stocks – Amber Enterprises, Avenue Supermarts (DMart), Dixon Technologies, Info Edge (India), Jubilant FoodWorks, Orient Electric and Relaxo Footwears – hit their respective record highs today. READ MORE

1:12 PM

NEWS ALERT | Continued global tensions to hit India's exports: Economic Survey 2020

1:11 PM

NEWS ALERT | FY20 GDP growth seen at 5%: Economic Survey 2020

1:09 PM

NEWS ALERT | High non-tax revenue growth not sustainable year after year: Economic Survey 2020