F&O Expiry: Sensex, Nifty end lower; Tata Motors dips 5% ahead of Q1 nos

The BSE Sensex closed at 37,831 level, down 17 points, or 0.04%. The broader Nifty50, too, shed 19 points, or 0.17%, to settle at 11,252 levels.

3:41 PM

Sectoral gainers and losers on the NSE

3:40 PM

Top gainers and losers on the S&P BSE Sensex

3:37 PM

CLOSING BELL

The S&P BSE Sensex ended 17 points or 0.04 per cent lower at 37,831 levels while the Nifty50 index ended at 11,252, down 19 points or 0.17 per cent. 

3:05 PM

Ambuja Cements slips post Q2 result

3:03 PM

Earnings Alert | Ambuja Cements Q2 results

-- Net profit at Rs 412 cr
 

-- Revenue at Rs 2978.3 cr
 

-- Ebitda margin at 23.4%
 

-- Ebitda at Rs 698.4 cr

2:56 PM

Gold demand rose 14% in Apr-Jun, outlook for next two quarters weak: GFMS

India’s gold demand in the April-June 2019 quarter saw an increase of 14 per cent on a year-on-year basis, but it might remain muted in the next two quarters. Among the reasons for a weak outlook are high domestic prices. The rates, already high in international markets, will increase further in India on account of the 2.5 per cent import duty increase announced in Union Budget 2019 earlier this month. READ MORE

A sales person shows gold ornaments at a jewellery shop, on the occasion of 'Akshaya Tritiya', in Chennai on Tuesday | Photo: PTI

2:49 PM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
VODAFONE IDEA	9.82	-0.15	-1.50	8601512
YES BANK	87.30	-1.85	-2.08	5844692
RELIANCE INFRA.	47.00	2.25	5.03	5745542
REL. COMM.	1.59	-0.06	-3.64	5150937
DEWAN HSG. FIN.	55.55	-1.00	-1.77	3566261

2:38 PM

ICICI Securities on Asian Paints

We model revenue, earning CAGR of 16%, 23%, respectively, led by ~14% volume growth. We believe pressure on gross margin (due to change in product mix coupled with higher raw material cost) will ease, going forward, supported by a change in mix. However, at the current multiple, the stock offers limited upside. Hence, we change our rating from BUY to HOLD with a revised target price of Rs 1550/share.

2:36 PM

Top gainers on BSE at this hour

IDFCFIRSTB	39.55	+1.90	+5.05
LUPIN	776.20	+37.70	+5.10
LALPATHLAB	1,145.00	+58.45	+5.38
KSCL	470.95	+26.05	+5.86
SRTRANSFIN	990.00	+63.70	+6.88

2:35 PM

NEWS ALERT | CBI court frames charges against Naveen Jindal, others in coal block allocation case: CNBC TV18

2:20 PM

Anand Rathi Financial Services on ZEE

Investments in digital will further increase in FY20 as the company ramps up production of ZEE5 Originals and movie offerings across languages. These content investments would be complemented by marketing spend. FY20 slate of original content is building up well and the company is on track to launch more than 70 original shows and movies in six languages.

We now value Zee at 15x FY21e EV/EBITDA and maintain our Buy rating, with a target price of Rs 450.

Risk: Any slippage in content ratings.

2:13 PM

NEWS ALERT | Jalan Panel on ECF carries Fin Secy Garg's dissent note: CNBC-TV18

- Submission of Jalan panel report on Economic Capital Framework (ECF) to RBI remains uncertain.
- Jalan panel is likely to seek RBI’s view before submitting report on ECF 

2:06 PM

Global markets check

Asian shares rose after a cautious start, while the euro hovered near two-month lows as soft economic data fueled hopes the European Central Bank could cut rates at its meeting on Thursday. Those hopes are set to lift European shares, with pan-region Euro Stoxx 50 futures up 0.45%, German DAX futures up 0.43% and FTSE futures up 0.19% in early European trade.

 

Japan’s Nikkei touched nearly three-month highs before trimming gains to be up 0.26%. Australian shares neared a 12-year peak, driven by expectations the ECB and the Federal Reserve will soon lower borrowing costs. MSCI’s broadest index of Asia-Pacific shares outside Japan, which had begun the day broadly unchanged, was last up 0.23%.

 

1:57 PM

Govt to raise a major chunk of foreign borrowing via 30-year bonds

The Indian government plans to issue a significant portion of its proposed sovereign overseas borrowing via 30-year paper, a senior government official who did not wish to be identified said on Thursday. The government has met several foreign bankers over last two weeks and sees appetite for long-term sovereign bonds, the official said adding the bonds will likely be issued in tenors of 10 years and above.

Finance Minister Nirmala Sitharaman announced that India was looking to raise around $10 billion via overseas foreign currency sovereign bonds in the current fiscal year, in a first-ever such issuance.

1:42 PM

NEWS ALERT | Reliance Capital repaid outstanding commercial paper worth Rs 75 cr on July 24: CNBC TV18

1:37 PM

ICICI Prudential Life gains 7% in subdued market post Q1 results

Shares of ICICI Prudential Life Insurance Company (ICICI Pru) rallied 7 per cent to Rs 408 on the BSE on Thursday in an otherwise subdued market, after reporting 27 per cent year-on-year (YoY) growth in value of new business (VNB) at Rs 309 crore in the June quarter (Q1FY20). The stock was 5 per cent away from its 52-week high level of Rs 428 touched on August 7, 2018 in intra-day trade. READ MORE

1:23 PM

NEWS ALERT | GST Council to mull exemption of tax on hiring of EVs: sources to CNBC TV18

-- Council likely to reduce GST on EVs from 12% to 5% in today's meeting

1:10 PM

Bank of Baroda continues to trade lower ahead of Q1 results

12:58 PM

Stocks that hit 52-week low on S&P BSE Sensex

COMPANY	PRICE(rs)	52 WK LOW	CHG(rs)	CHG(%)
AJANTA PHARMA	874.70	867.95	-16.60	-1.86
APOLLO TYRES	161.10	160.80	-3.55	-2.16
ASHOK LEYLAND	72.05	71.65	-0.45	-0.62
BAJAJ CONSUMER	278.85	278.85	-6.60	-2.31
BALKRISHNA INDS	723.55	706.65	5.70	0.79

12:48 PM

Zee Entertainment trades over 2% higher

12:43 PM

Nifty PSU Bank index drags

12:28 PM

Bajaj Finance extends loss after Q1 results

12:26 PM

Earnings Alert | Bajaj Finance Q1 results

-- Net profit at Rs 1,124.7 cr
 

-- Gross NPA at 1,560% vs 1.54% QoQ
 

-- Net NPA at 0.64%
 

-- NII at Rs 3,695 cr
 

-- Provision coverage ratio at 61% vs 60% QoQ

12:22 PM

Talwalkars Healthclubs, Talwalkars Better Value tank over 50% in six days

Shares of Talwalkars Healthclubs and Talwalkars Better Value Fitness (TBVFL) continued to reel under pressure, falling over 50 per cent in the past six trading days. Talwalkars Healthclubs (Rs 41) and TBVFL (Rs 22) were down 5 per cent each on Thursday. Both have tanked 55 per cent since July 18 and are trading at their respective all-time low levels. They have hit the lower circuit for six straight days, with no buyers seen on the counters. READ MORE

12:17 PM

Bajaj Auto Q1 preview: Adverse product mix, discounts to weigh on profit

Bajaj Auto will declare its June quarter results on Friday. And, although the company has reported a rise in volumes in an otherwise subdued quarter for auto firms, analysts expect the inferior product mix and higher discounting to drag down the company's profit. According to data, Bajaj Auto's overall volume grew 1.7 per cent on a year-on-year (YoY) basis to 12,47,174 units in Q1FY20. Total motorcycle volume increased 4 per cent YoY, while three-wheeler volume declined 20 per cent YoY. READ MORE

12:15 PM

Nifty sectoral indices at this hour

12:14 PM

Sensex slips into the red zone

12:05 PM

NEWS ALERT | LIC Housing Fin makes interest payment of Rs 46.75 cr on NCDs on July 24

12:02 PM

Result Expectation | Edelweiss Securities on Bajaj Finance Q1 result

-- Net Profit at Rs 1,299 crore, up 55.4% YoY, from Rs 836 crore 

-- pre-provision profit at Rs 2,570 crore, up 58.3% YoY, from Rs 1,624 crore

-- NII at Rs 3,796 crore, up 47.5% YoY, from Rs 2,573 crore

11:58 AM

Result Expectation | Antique Broking on Bajaj Finance Q1 result

-- Net Interest Income at Rs 3,715.9 crore, up 44.4% YoY, from Rs 2,572.8 crore

-- Pre-provision profit at Rs 2,452.5 crore, up 51% YoY, from Rs 1,624.1 crore