MARKET WRAP: Sensex gains 160 pts; broader markets underperform, Infy up 7%

In the broader market, the S&P BSE MidCap settled 88 points, or 0.61 per cent, lower at 14,466 levels while the S&P BSE SmallCap closed 87 points, or 0.63 per cent, lower at 13,689 levels.

3:43 PM

Sectoral trends on NSE at close

3:42 PM

Top gainers and losers on S&P BSE Sensex at close

3:42 PM

Market at close

3:41 PM

Market at close

3:39 PM

Closing Bell

The S&P BSE Sensex settled 160 points, or 0.41 per cent, higher at 38,897 while the broader Nifty50 too settled with gains of 36 points, or 0.36 per cent, at 11,588 levels. 

 

3:25 PM

RBL Bank dips over 5%

3:15 PM

CG Power dips over 8%

3:06 PM

Maruti trades over 1% higher

2:53 PM

Suzlon pins hopes on Brookfield deal for bond payback as investors wait

Investors in Indian corporate debt are watching whether a stressed wind-turbine maker will repay its dollar-denominated convertible bonds due on Tuesday, and help avoid further widening of strains in the nation’s credit market. Suzlon Energy Ltd., which became India’s biggest convertible note defaulter when it missed payments in 2012, must repay $172 million outstanding on such securities that were issued as part of a debt restructuring. READ MORE

2:46 PM

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

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
INFOSYS	775.30	777.20	48.20	6.63
INTELLECT DESIGN	283.00	292.00	2.00	0.71
SBI LIFE INSURAN	780.00	794.25	-0.60	-0.08

2:35 PM

Sun Pharma Advanced Research climbs over 15%

2:31 PM

NEWS ALERT | NCLT adjourns MCA's plea to bar IL&FS' auditors, to July 19: CNBC TV18

2:29 PM

Elara Capital on Infosys

Rating: ACCUMULATE

 

Target Price : Rs 790

 

Upside : 9%

 

CMP : Rs 727 (as on 12 July 2019)

After 1QFY19, we had been 170bp below Consensus on FY20E EBITDA margin as we had expected a YoY decline of 150bp to 22.5% with USD-INR assumption of 68.3. We had been optimistic about growth though, but now feel less confident that Infosys can continue double-digit growth organically. We lower revenue by 3.1% for FY20E and 2.9% for FY21E. We also lower EBITDA margin by 18bp for FY20E and 46bp for FY21E. We introduce FY22E and arrive at a new TP of INR 790 from INR 820 on 18x (unchanged) FY21E P/E. We reiterate Accumulate, but urge investors to switch to HCL Tech and Wipro as we see similar growth prospects and more reasonable valuation.​

2:23 PM

NEWS ALERT | NCLT adjourns MCA's plea to bar IL&FS' auditors: CNBC TV18

-- Next hearing on July 19

2:16 PM

Aurobindo Pharma slips over 3%

2:15 PM

Nifty Bank index trades lower

2:14 PM

Index contributors at this hour

1:55 PM

Derivatives Pick Of The Month | Anand Rathi Financial Services

1:46 PM

Indiabulls Real Estate dips 3%

1:40 PM

NEWS ALERT | DEA, CBDT & SEBI discuss impact of surcharge on FPIs: sources to CNBC TV18

-- Revenue Department has reservations on special ‘carve out’, feels it would lead to complexity & strict anti-abuse measure may be needed

Alert: DEA : Department of Economic Affairs

         CBDT: Central Board of Direct Taxes

         SEBI: Securities and Exchange Board of India

       

1:36 PM

Tata Elxsi slips 4%

1:34 PM

Market check

1:33 PM

Sun Pharma gains for fifth straight day on Morgan Stanley's upgrade

Shares of Sun Pharmaceutical Industries (Sun Pharma) gained ground for the fifth straight day, up 4 per cent to Rs 425 on the BSE on Monday in intra-day deals after Morgan Stanley 'double upgraded' the stock on a possible uptick in earnings going ahead. The foreign brokerage firm has maintained a target price of Rs 505 per share, 19 per cent higher from the current levels. In the past one week, Sun Pharma has outperformed the market by surging 16 per cent, as compared to 0.20 per cent decline in the S&P BSE Sensex. READ MORE

1:21 PM

Earnings Alert | Bajaj Consumer Q1 consolidated net profit up 8.9% at Rs 56.7 cr Vs Rs 52.1 cr (YoY)

1:21 PM

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

COMPANY	PRICE(rs)	52 WK LOW	CHG(rs)	CHG(%)
BASF INDIA	1137.90	1133.70	-40.05	-3.40
BLUE DART EXP.	2561.70	2499.95	-10.65	-0.41
CASTROL INDIA	124.00	123.60	-2.90	-2.29
CENTURY PLY.	146.05	145.00	-1.00	-0.68
CG POWER & INDU.	19.40	19.30	-1.60	-7.62

1:12 PM

NEWS ALERT | Some of the media used select portion of our statement and created panic: DHFL to exchanges

-- While the sectorial stress is well known for months, DHFL has withstood intense pressure and continues to remain strong and solvent. DHFL has also cleared significant amount of obligation to the tune of Rs 41,800 crore since September 2018, DHFL said. READ THE FULL ANNOUNCEMENT HERE

 

1:06 PM

NEWS ALERT | NCLT allows forensic audit reports to be shared with JSW Steel in Bhushan Power & Steel Case: CNBC TV18

1:00 PM

WPI inflation eases to near 2-year low at 2.02% in June vs 2.45% in May

Wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02 per cent in June, helped by decline in prices of vegetables as well as fuel and power items, according to official data released Monday. The Wholesale Price Index (WPI)-based inflation was at 2.45 per cent in May. It was 5.68 per cent in June 2018. READ MORE

12:51 PM

Nifty IT, led by gains in Infosys, trades in the green

12:47 PM

Infosys hits fresh record high

-- Infosys hit record high of Rs 777, up 7 per cent on the BSE in intra-day trade on Monday. The IT major surpassed its previous high of Rs 774 touched on April 9, 2019 in intra-day deal.