Indices end near day's high, Sensex up 558 pts; UltraTech Cement jumps 7%

All that happened in the markets today

4:12 PM

MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services

"Indian benchmark indices closed up by around 1.4 per cent, with Auto and IT constituents contributing the most to the gains. Some of the stocks rallied on the basis of their earnings results with operating margins and earnings visibility being the key notables. Globally, there was an expectation that the US Fed would continue with its dovish policy stance, which would ensure liquidity, especially into emerging markets like India. Liquidity has been a key driver for the market performance, and the Fed decision is likely to be greeted positively. The advice to remain cautious remains and investors must accumulate only quality stocks."

3:44 PM

SECTOR WATCH:: Nifty Auto gains the most

3:43 PM

MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex rallied 558 points or 1.47 per cent to settle at 38,493 while NSE's Nifty ended at 11,300, up 169 points or 1.52 per cent.

3:28 PM

BROKERAGE VIEW:: Centrum Broking on Biocon

The management has guided that company would continue to bring 3 products each fiscal until FY23E and beyond that two products each fiscal. The key concern at this point would be unexplainably low market share in the key products like Pegfilgrastim and Trastuzumab, we closely watch this scenario and feel if the market share in these products could touch low-mid double digits in coming 8 to 12 months and along with ramp-up in Insulin Glargine the earnings could be impressive. We maintain Buy with the target price of Rs 498 (SOTP based). We have valued each business segment separately.

3:22 PM

BUZZING STOCK:: Infosys gains nearly 1.7%

3:14 PM

BUZZING STOCK:: Thyrocare Technologies jumps 14%

3:05 PM

MARKET CHECK :: Nifty nears 11,300

3:04 PM

TCS, HDFC contribute the most to Sensex's 500-point rally today

2:54 PM

NEWS ALERT :: Tata Motors appoints Thierry Bolloré as new chief Executive Officer of JLR w.e.f September 10

>> Bolloré succeeds Prof Sir Ralf Speth, who will take up the previously announced position of Non-Executive Vice Chairman of Jaguar Land Rover plc

Via BSE filing

2:48 PM

MARKET CHECK

2:44 PM

UltraTech Cement surges 7% on strong operational performance in Q1

Shares of UltraTech Cement moved higher by 7 per cent to Rs 4,136 on the BSE on Tuesday after the company reported better-than-expected operational performance in the April-June quarter of FY21 (Q1FY21). The company reported a consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) of Rs 2,353 crore, as against an average analyst estimate of Rs 1,702 crore. READ MORE

2:40 PM

Tractor growth, partnership with Japan's Kubota key triggers for Escorts

A better-than-expected June quarter performance and expectations of steady growth for FY21 led to the 2.2 per cent gain for the Escorts stock. The outperformance was due to a better product mix and lower expenses which resulted in higher realisations and margin expansions. The gains on the operating front came despite the 14 per cent year-on-year fall in tractor volumes. Agri machinery (tractors) is the largest of the three segments Escorts is in and accounts for 80 per cent of its revenues. READ MORE

2:28 PM

BROKERAGE VIEW:: Emkay Global Financial Services on Nippon Life

RATING: HOLD | TARGET PRICE: Rs 280

We cut FY21/22 PAT estimates by ~3.5%/2.7% and roll forward our valuation to Sept’22E. Maintain Hold with a revised TP of Rs 280 (Rs 271 earlier), corresponding to 29x P/Sept’22E EPS with 24% RoE by FY23E. The key risk to our call is another sell-off in the market impacting AUMs negatively.

2:20 PM

RESULT IMPACT:: Ultratech Cement jumps over 6% post June quarter nos

>> Net profit slips 37.8% YoY to Rs 796.3 crore; 

 

>> Revenue down 33.2% YoY to Rs 7,633.8 crore; 

 

>> EBITDA falls 29.7% YoY to Rs 2,074.6 crore

2:13 PM

RUPEE CHECK:: Rupee ends unchanged at 74.83/ US dollar against Monday’s close

2:04 PM

IndiGo to report Q1 result on Wednesday; here's what analysts expect

As InterGlobe Avition-owned IndiGo burns its pocket with lease and rental payments for over 260 aircraft fleet amid calibrated operations, thanks to suspended air travelling amid Covid-19 outbreak, analysts would watch out the budget carrier’s cash flows in the April-June quarter of FY21 (Q1FY21) and further fund-raising plans. The airline is scheduled to report its Q1FY21 earnings on Wednesday, July 29. READ MORE

1:56 PM

IPO UPDATE:: Mindspace Business Parks REIT offer subscribed 77% so far on Day 2 of the bidding process

(Source: NSE)

1:47 PM

BUZZING STOCK:: Marico jumps 5%

1:36 PM

MARKET CHECK:: BSE Midcap index underperforms Sensex

1:36 PM

European indices trade mixed in early deals

1:24 PM

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

1:19 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
BIRLASOFT LTD	116.35	118.20	7.38
DEEPAK FERTILIZ.	146.80	149.95	2.26
HCL TECHNOLOGIES	706.45	712.50	0.75
HDFC LIFE INSUR.	639.10	647.50	0.87
INFIBEAM AVENUES	76.50	77.85	3.17

1:07 PM

AHEAD OF RESULTS:: Nestle trades over 0.8% lower

1:00 PM

Bharti Airtel Q1 preview: Losses likely to narrow despite fall in APRU

Bharti Airtel is set to announce its June quarter results for FY21 (Q1FY21) on Wednesday and analysts expect the company to post a loss of as much as Rs 318.9 crore as compared to Rs 5,236.9 crore loss reported in Q4FY20. Revenue growth for the quarter, however, is likely to remain flat with India non-wireless revenues traction remaining robust. READ MORE

12:51 PM

BROKERAGE VIEW:: Centrum Broking on ITC

We reckon new launches in the hygiene segment could aid margin expansion for the other FMCG business. Nonetheless, we expect the fast recovery in cigarette/other FMCG, compared to prolonged recovery in H2 for Hotel, Paper, and Agri. Gross margin declined 818 bps to 55.4% due to delay in passing on NCCD inflicted cost increases. Considering strong tailwinds for other FMCG and significant cost optimization in the cigarette segment, we increase revenue/ PAT estimates for FY21E/22E by 5.7%/9.2% and 5.5%/13.7%. We maintain Buy rating and DCF-based revised Target price of Rs 257, implying 18.6x FY22E EPS.

12:45 PM

Maruti Suzuki Q1FY21 preview: Brokerages see net loss of up to Rs 750 crore

According to the company's monthly auto sales data, Maruti Suzuki sold 76,599 units during Q1FY21, down 81 per cent on year-on-year (YoY) basis as compared to 402,594 units sold in Q1FY20. The Q1FY21 numbers comprise the sale of 67,027 units and 9,572 units in the domestic market and export, respectively. At the bourses, shares of Maruti Suzuki gained 11.8 per cent during the April-June period. In comparison, the S&P BSE Sensex gained 18.48 per cent in the same period. READ MORE 

12:38 PM

BUZZING STOCK:: MCX surges over 5%

12:27 PM

These stocks from Ashish Kacholia's portfolio gained over 100% since April

Kacholia holds more than one per cent stake in over a dozen mid and smallcap companies. Of the 16 companies that Kacholia held stake in at the end of the June quarter, 13 have outperformed the market, while just three stocks – Safari Industries, DFM Foods and NIIT have underperformed since April. The S&P BSE Sensex has surged 29 per cent during the same period. READ MORE 

12:18 PM

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