MARKET WRAP: Sensex up 38 pts as banks rally, gains 11.6% in Samvat 2075

All that happened in markets today.

3:50 PM

Markets in Samvat 2075

Benchmark Sensex has logged 11 per cent gain in Samvat 2075. The Midcap and Smallcap indices, however, fell 7 per cent and 10 per cent respectively. The year saw sharp volatility with benchmark indices scaling new highs post the re-election of the Modi government.

During Samvat 2075, the S&P BSE Sensex and the Nifty50 indices crossed the 40,000 and 12,000 levels respectively for the first time ever. However, economic slowdown, corporate defaults and stress in the financial sector saw the indices plunge

3:42 PM

Nifty snapshot

3:41 PM

Stocks with highest turnover on BSE

3:40 PM

Impressive Q2 numbers propel SBI

3:39 PM

Sensex heat map :: Bank stocks gain ground

3:38 PM

Index watch

3:15 PM

BUZZING STOCK | YES Bank up 9% to Rs 52.60, surges 15% from day's low of Rs 45.75

3:00 PM

BROKERAGE RADAR | ICICI Securities on United Spirits (USL)

The management expects to deal with higher input price inflation by managing its A&P, other expenses. The management has guided double-digit revenue growth and mid-to high-teen margin over the medium term. However, concerns remain like the recent RTM changes in states like Andhra Pradesh and policies related to liquor ban. We value the stock at ~44x FY21 EPS to arrive at a target price of Rs 720 with a BUY rating.

2:51 PM

NEWS ALERT | Have excess liquidity in the bank as of now: SBI

2:40 PM

NEWS ALERT | Provided Rs 900 cr during Q2 for a stressed NBFC: SBI

2:33 PM

NEWS ALERT | ML Khattar to be sworn in as Haryana CM tomorrow: TV reports

2:30 PM

ICICI Bank hits market-cap of Rs 3 trillion ahead of results

Minimal increase in stressed assets, steady slippages, and robust loan growth could make ICICI Bank stand as an outlier among its lending peers for the September quarter results. The bank is scheduled to report its Q2FY20 earnings on Saturday, October 26.

 

“ICICI Bank will likely be an outlier with lower asset quality issues, steady slippages and very limited additions to stress book” wrote analysts at Prabhudas Lilladher in a results preview note. READ RESULTS PREVIEW HERE

-- At 2:30 PM, the bank's m-cap stood at Rs 3,00,793.47 crore. The stock hit new high of Rs 470 in the intra-day deals.

2:22 PM

SBI logs over 200% YoY jump in PAT at Rs 3,012 cr; asset quality improves

Public lender State Bank of India (SBI) on Friday reported a standalone net profit of Rs 3,012 crore for the September quarter of FY20 (Q2FY20), up 218 per cent YoY, from a profit of Rs 944.87 crore reported in Q2FY19. The bank logged a consolidated PAT at Rs 3,375.4 crore . The profit beat Street estimates. Prabhudas Lilladher, for instance, pegged the profit at Rs 2,633.3 crore. READ MORE 

2:00 PM

RESULTS IMPACT | SBI jumps over 4.50% post Q2 nos

1:50 PM

NEWS ALERT | Dilip Buildcon declared L-1 bidder for projects worth Rs 2,612 cr in Uttar Pradesh: BSE filing

1:44 PM

NEWS ALERT | US market regulator SEC asks for Infosys' financial statement: sources to CNBC TV18

-- SEC asks for audit reports since April 2017

-- Seeks Infosys' data w.r.t deals closures

-- Seeks emails and communications within Infy's finance dept w.r.t deal pricing 

-- SEC to review rating and brokearge records along with trading data

Alert: SEC is Securities and Exchange Commission

1:34 PM

Piramal Enterprises slumps 17% post announcement of capital-raising plan

Piramal Enterprises tanked 17.3 per cent to Rs 1,425.2 per share in the afternoon deals on the BSE on Friday after the company, at its board meeting, approved preferential Compulsory Convertible Debentures (CCD) allotment to Canadian institutional investor Caisse de dépôt et placement du Québec (CDPQ) for a price consideration of Rs 1,750 crore.

 

"The Board has approved fresh capital raise of Rs 5,400 crores through a Rights Issue and preferential allotment of CCDs. The Promoters will participate in and are committed to the success of the Rights Issue," it said in a BSE filing. READ MORE

1:27 PM

This penny stock zooms 3,000% in four years; do you own it?

Thus far in the current calendar year 2019, the stock has soared 120 per cent against an 8 per cent gain in the S&P BSE Sensex. READ MORE 

12:59 PM

Bharti Airtel, Voda-Idea: How to trade telecom stocks post AGR judgement

In a massive blow to the incumbent telecom players, Bharti Airtel and Vodafone-Idea, the Supreme Court (SC) on Thursdayrejected telecom companies’ appeal against the Union government’s definition of Adjusted Gross Revenue (AGR). The apex court will later decide on the timeframe for the operators to pay AGR. According to the experts, the verdict will have a devastating impact on the telcos and Vodafone-Idea will be the worst-hit. READ MORE 

12:43 PM

Market check

12:34 PM

Earnings Alert | Strides Pharma Q2 result

-- Net profit at Rs 71.7 cr, up 37.1% YoY

-- Revenue at Rs 718 cr, up 4.2% YoY

-- EBITDA at Rs 150.6 cr, up 22% YoY; margin at  21% (up 300 bps)

12:27 PM

NEWS ALERT | Cummins lowers domestic revenue growth guidance for FY20 to 3-5% from 8-10%

-- Cummins also revises exports sales target for FY20, now sees sales declining up to 20% against the earlier guidance of 5-10% decline

12:26 PM

NEWS ALERT | Sadbhav Infra gets nod for transfer of 100% stake in another arm to Indinfravit Trust: BSE Filing

12:25 PM

NEWS ALERT | Piramal Ent Board approves fund raising of up to Rs 5,400 cr: BSE filing

-- Board will issue equity shares of Rs 3,650 cr via rights issue to existing shareholders

-- Preferential Allotment of ~INR 1,750 Crores (US$ 250mn) through issue of Compulsory Convertible Debentures to Caisse de dépôt et placement du Québec (CDPQ)
 

 

12:13 PM

RESULT TODAY :: SBI Q2 preview: Stake sale in SBI Life to aid performance; slippages eyed

State Bank of India (SBI), which is scheduled to report its September quarter earnings for financial year 2019-20 (Q2FY20) on Friday, October 25, is expected to post a decent set of numbers with gains from the stake sale in SBI Life to compensate for any negative earnings’ impact due to mark-down of deferred tax asset (DTA).

 

The largest public lender reported a net profit of Rs 944.9 crore in the corresponding quarter of the previous fiscal, and Rs 2,312.2 crore in Q1FY20. The net interest income (NII) came in at Rs 20,905.7 crore in Q2FY19, which was Rs 22,938.8 crore in Q1FY20. READ MORE

11:14 AM

RESULT IMPACT :: IndiGo dips 8% post Q2 numbers; brokerages cut target price

InterGlobe Aviation-run IndiGo airlines nosedived 8 per cent to Rs 1527.85 in intra-day deals on the BSE on Friday, after the airline reported its biggest quarterly loss of Rs 1,062 crore in the September quarter of financial year 2019-20 (Q2FY20). Moreover, it cut its capacity expansion targets for 2019-20 by 5 percentage points. READ MORE HERE

11:12 AM

Most telecom stocks trade weak

11:09 AM

BS SPECIAL :: Gold likely to move higher in Samvat 2076; make a strategic allocation

Investors who put in money in gold as an asset class have reaped a good harvest with prices moving up nearly 22 per cent thus far in Samvat 2075. However, the run-up should not deter investors from investing in the yellow metal in Samvat 2076.

 

Following the remarkable rally over the last few months, gold prices are now consolidating. While in the near term, gold can remain range-bound as there are various conflicting forces at play and no single factor seems to influence the price direction, there are triggers that can propel prices to higher levels over the long term. READ MORE HERE

11:03 AM

NEWS ALERT | Bharti Airtel to acquire 8.82% stake in Bengaluru-based start-up Vahan: BSE filing

10:59 AM

Tata Motors slips 2% ahead of Q2 results; here's what brokerges expect

The auto major is expected to post subdued numbers for the quarter under review as as tough business conditions prevailed in all key geographies and market segments. The company is seen reporting 13 per cent decline in net sales to Rs 62,467 crore on the back of 45 per cent drop in standalone volumes to 1.05 lakh units, flat YoY JLR volumes at 1.3 lakh units and unfavourable currency movement. READ MORE