MARKET WRAP: Sensex up 147 pts, smallcaps outperform; Tata Motors gains 9%

Sectorally, public sector banks, NBFCs, automobile, and metal stocks gained the most, while information technology stocks which dipped on a weaker rupee.

3:38 PM

Sectoral gainers and losers on the NSE

3:38 PM

Gainers and losers on the S&P BSE Sensex

3:35 PM

CLOSING BELL

The S&P BSE Sensex gained 147 points or 0.39 per cent to settle at 37,641 levels while Nifty ended at 11,105, up 48 points or 0.43 per cent. 

3:31 PM

Capacit'e Infra gains 20% in two days as I-T dept finds no irregularities

Shares of Capacit'e Infraprojects moved higher by 11 per cent to Rs 212 on the BSE on Tuesday, having surged 20 per cent in the past two days, after the company said the Income Tax (I-T) department authorities found no irregularities during the search conducted at its premises.

 

"The tax department had conducted search at the premises of the Capacit'e Infraprojects on August 25, 2019 but no claims have been made against the company nor have there been any disclosures. The above proceedings have no impact on the financial and operational performance of the company," it added. READ MORE

2:59 PM

NEWS ALERT | BPL, Minda Corp, Bombay Dyeing, Ruby Mills among 5 stocks locked in 20% upper circuit

2:52 PM

NEWS ALERT | Bank of Baroda accepts being fined by the RBI

-- Fined Rs 50 lakh

-- Fined for delay in reporting Kingfisher Airlines' fraud

2:48 PM

Tata Motors zooms 9%

2:42 PM

Market check

2:41 PM

Nifty sectoral indices at this hour

2:41 PM

Central banks just love gold and it's going to stay that way amid slowdown

A major gold-buying spree by central banks is likely to persist in the coming years, according to Australia & New Zealand Banking Group Ltd, which flagged the potential for further purchases by nations including China.

 

“In the current environment, where uncertainty in emerging-market currencies is high, we see good reason for countries like Russia, Turkey, Kazakhstan and China to continue to diversify their portfolios,” ANZ said in a note on Tuesday. Net buying by the sector is likely to stay above 650 tonnes, it said. READ MORE

2:29 PM

BUZZING STOCK:: HUDCO surges 16%

2:21 PM

Facing slowdown, and inventory glut, Maruti cuts 3,000 contract jobs

Maruti Suzuki India Ltd Chairman R C Bhargava said on Tuesday the company had not renewed the contracts of 3,000 temporary employees, as the automaker battled rising inventory amid a slowdown in demand. Safety norms and higher taxes have "added substantially" to the cost of cars, affecting their affordability, Bhargava told shareholders at the company's annual general meeting. READ MORE

2:15 PM

Goldman Sachs sees more pain in store for the Indian economy

Analysts at Goldman Sachs see more pain in store for the Indian economy over the next few months despite the government’s stimulus unveiled last week. In their recent co-authored report titled India’s Economic Slowdown, Andrew Tilton, their chief Asia-Pacific economist expects this slowdown to last at least a couple of quarters more. READ MORE

2:01 PM

Shilpa Medicare tanks 36% in 10 days, hits 5-yr low on weak Q1 results

Shares of Shilpa Medicare were continued to remain under pressure and hit a 5-year low of Rs 222, down 9 per cent on the BSE in intra-day trade on Tuesday in an otherwise firm market on weak earnings. The stock was trading at its lowest level since July 2014. The pharmaceutical company's stock price has tanked 36 per cent since August 13 -- when the company declared results for the April-June quarter (Q1YF20) -- as compared to 0.2 per cent rise in the S&P BSE Sensex. READ MORE

1:34 PM

As many as 89 securities hit 52-week low on NSE

AIRAN	Airan Limited	15.20	16.05	23-Aug-2019	17.70	16.40	1.30	7.93
ALEMBICLTD	Alembic Limited	37.05	38.80	25-Oct-2018	37.05	38.95	-1.90	-4.88
ALOKTEXT	Alok Industries Limited	2.55	2.55	26-Aug-2019	2.70	2.60	0.10	3.85
ANIKINDS	Anik Industries Limited	6.90	7.10	26-Aug-2019	8.00	7.55	0.45	5.96
BANARISUG	Bannari Amman Sugars Limited	1,055.30	1,085.00	26-Aug-2019	1,092.00	1091.90	0.10	0.01

 
(Source: NSE)

Click to view full list

1:29 PM

Top gainers on the BSE at this hour

DHFL	49.45	+3.80	+8.32
BBTC	910.45	+121.95	+15.47
ORIENTBANK	69.55	+5.15	+8.00
BALRAMCHIN	132.35	+9.35	+7.60
BOMDYEING	80.95	+11.35	+16.31

1:24 PM

HPCL buys 120,000 tonnes petrol for Sept-Oct delivery; still seeking more

Hindustan Petroleum Corp Ltd is seeking more petrol after having purchased more than 120,000 tonnes of the fuel for September to early October delivery from the spot market to plug a supply gap, industry sources said on Tuesday. The state-owned refiner has been actively seeking petrol from the spot market this year as Indian refiners undergo maintenance and upgradation to produce cleaner fuels. READ MORE

 

1:05 PM

Stocks that hit 52-week high on BSE today

COMPANY	LATEST	52 WK HIGH	PREV HIGH
BATA INDIA	1502.75	1505.00	1495.65
BERGER PAINTS	366.10	368.95	368.00
GLAXOSMITH C H L	8103.65	8150.05	8139.35
HDFC AMC	2400.00	2410.95	2369.50
HIND. UNILEVER	1863.50	1888.95	1883.50
MULTI COMM. EXC.	913.95	918.75	899.95
PETRONET LNG	256.10	258.35	254.65
PIDILITE INDS.	1383.55	1399.80	1389.90
REDINGTON INDIA	110.70	115.90	115.35

12:51 PM

MARKET CHECK | Metal stocks rally

12:44 PM

Bombay Dyeing zooms 14%

12:40 PM

NEWS ALERT | Kalpataru Power promoter created pledge on 40 lakh shares (2.6% equity) on August 23

12:35 PM

Elara Capital on Cement sector

After witnessing subdued demand in Q1FY20, we believe Q2FY20 will be another weak quarter, given Monsoon-led seasonality weakness. However, post monsoon recovery in demand at retail as well as institutional levels would drive demand growth for the sector in 2HFY20. We prefer firms with a higher presence in North and Central India and the Northeast (such as JK Lakshmi Cement, Heidelberg Cement, Prism Johnson and Star Cement), considering a better demand-supply scenario.

12:28 PM

Infosys slips 3% on closure of share buyback, recovery in rupee

Shares of Infosys slipped 3 per cent to Rs 781 in the intra-day trade on the BSE on Tuesday after the information technology (IT) firm closed the buyback offer as it utilised almost full size of the issue approved. “The company has bought back 110 million equity shares at an average price of Rs 747.38 per share; and deployed an amount of Rs 8,260 crore, utilising 99.99 per cent of the maximum buyback size till August 26, 2019,” Infosys said in a regulatory filing on Monday after market hours. READ MORE

12:15 PM

There comes a time when an organisation has to outgrow its parent: IndiGo promoter Rahul Bhatia says at the AGM

-- Think IndiGo reaching the point where it can stand on its own: Bhatia
 

12:06 PM

Reliance Securities on Mangalam Cement

We believe sustainability of downward cost scenario also to be aided by the Waste Heat Recovery Systems (WHRS) will be the key catalyst for the company, going forward. Company’s initiative to sell more Portland Pozzolana cement (PPC), mainly led by higher production from Aligarh SGU is likely to aid its operational performance in ensuing quarters. Current valuations at 5.2x and 4.4x EBITDA of FY20E and FY21E look attractive, in our view. We maintain our fundamental BUY rating on the stock with a Target Price of Rs 380.  

12:03 PM

BUZZING STOCK:: Bombay Burmah Trading Corp Ltd

12:02 PM

Dish TV slumps 7%, at day's low now

11:55 AM

Britannia Industries extends gains

11:52 AM

Indian economy to grow at slowest pace in 5 years in June quarter: Poll

The Indian economy likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand, according to economists polled by Reuters.

 

That would reinforce concerns seen in the minutes from the central bank's August meeting, which showed policymakers were worried about weak growth and indicated further rate cuts in the next few months to boost the slowing economy. READ MORE

11:42 AM

NEWS ALERT | IndiGo's capacity growth to be divided 50:50 between international and domestic routes: IndiGo CEO at AGM