MARKET WRAP: Sensex climbs 186 pts; PSBs advance, Vodafone Idea zooms 35%

All that happened in markets today.

3:43 PM

PSU banks gained ground in trade today

3:43 PM

Sensex heat map

Bharti Airtel, RIL among key Sensex gainers

3:42 PM

Index watch

3:38 PM

CLOSING BELL

The S&P BSE Sensex added 186 points or 0.46 per cent to end at 40,470-mark while NSE's Nifty50 index ended at 11,940, up 56 points or 0.47 per cent.

3:14 PM

ICRA downgrades Peninsula Land's debentures to 'C', cites debt servicing

The Ashok Piramal Group company faces high refinancing risk because of its debt repayment obligations (excluding collection-linked payments) aggregating to Rs 1,167 crore in the next twelve months, ICRA said. READ MORE  

2:56 PM

NEWS ALERT | GoM on divestment to okay list of PSUs that are up for divestment: sources to CNBC TV18

-- GoM to approve PSU where govt will reduce stake below 51%

-- List of PSUs could be presented before Cabinet in the next meeting (expected tomorrow).

2:51 PM

Market check | Sensex pares gains

2:44 PM

NEWS ALERT | Morgan Credits, Rana Kapoor, YES Cap sell remaning 0.8 per cent stake in company: CNBC TV18

2:40 PM

Bajaj Electricals extends fall on credit rating downgrade, weak Q2 results

Shares of Bajaj Electricals continued to remain under pressure, hitting an over two-year low of Rs 309, down 3 per cent on the BSE on Tuesday after the rating agency ICRA downgraded the company’s credit rating due to poor earnings. The stock of household appliances hit its lowest level since August 2017. In the past two weeks, it has underperformed the market by falling 20 per cent on weak September quarter (Q2FY20) earnings. READ MORE

2:23 PM

NEWS ALERT | IDBI Bank sells IDBI Asset Management to Muthoot Finance: CNBC TV18

2:17 PM

NEWS ALERT

2:15 PM

BSE500 stocks that hit 52-week high today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ALKEM LAB	2121.00	2149.00	21.45	1.02
BAJAJ FINSERV	9153.60	9188.20	47.20	0.52
BHARTI AIRTEL	432.80	435.95	23.65	5.78
CHOLAMAN.INV.&FN	327.50	333.90	-2.20	-0.67
CREDITACC. GRAM.	823.55	837.90	30.50	3.85

2:08 PM

NEWS ALERT | GoM to study pruning of tax slabs from 4 to 3: govt official to CNBC TV18

-- Govt considering three slabs of 8, 18 and 28 per cent

-- Also to study low availability of compensation funds

2:07 PM

NEWS ALERT | Centre has not paid GST compensation to states for past 2 months: govt official to CNBC TV18

-- Govt might use Consolidated Funds of India to make payment

-- States have begun writing to govt seeking funds to do requisite expenditure

1:55 PM

Asian Markets check

Asian share markets were mixed in subdued trade on Tuesday, pending clearer news on whether U.S.-China negotiations will reach a preliminary accord to end the prolonged trade war between the world’s two largest economies.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, with Shanghai blue chips gaining 0.6 per cent and Hong Kong's Hang Seng up 1 per cent. Australia's S&P/ASX 200 also rose, to close 0.7 per cent higher. However Japan's Nikkei shed 0.4 per cent and South Korea's Kospi 200 dropped 0.5 per cent, while volumes were light across the board.

E-Mini futures for the S&P 500 ESc1 were 0.1 per cent higher and European futures also pointed to a higher open, with EUROSTOXX 50 futures trading 0.3 per cent higher.

(Reuters)

1:43 PM

MARKET UPDATE:: PSU banks rally; Corporation Bank, UCO Bank up 20%

-- - Out of top BSE500 gainers, eight are PSU banks 

1:42 PM

Heatmap: S&P BSE Sensex

1:36 PM

Bharti Infratel near day's high, up 7%

1:30 PM

BUZZING STOCK:: Yes bank dips 3%

1:20 PM

BROKERAGE RADAR | ICICI Securities on NBCC

NBCC enjoys a unique business model and strong order book position. However, a delay in commencement of its key redevelopment projects and with a significant portion of the OB currently stuck up, execution has taken a backseat substantially. Hence, we cut our estimates significantly and now expect consolidated revenues to grow at a CAGR of 4.1% to Rs 10,784.1 crore in FY19-21E. Hence, we maintain HOLD recommendation on the stock with a target price of Rs 37/share (20x FY21E EPS).

1:17 PM

Reliance Industries logs fresh all-time high, hits Rs 9.5 trillion m-cap

Reliance Industries (RIL) today became the first Indian company to cross the market capitalisation of Rs 9.50 trillion after the company's stock rallied over 3 per cent intra-day to hit a fresh all-time high of Rs 1,508.45 on the BSE. RIL jumped 3.3 per cent to Rs 1,508.45, surpassing its previous high of Rs 1,490 touched on October 31, 2019 in intra-day trade. At 12:39 pm, the Mukesh Ambani-led RIL had the market-cap of Rs 9.54 trillion, BSE data shows. READ MORE

1:17 PM

NEWS ALERT | Tentative date for closure of Malaysia unit on or before June 30, 2020: Advanced Enzyme Tech

Alert: The financials of the said wholly owned subsidiary, as on March 31, 2019 -
 

a. Turnover/Revenue : NIL
 

b. Total Income: Rs 3.13 million, which is around 0.07% of total income of the Company at consolidated level.
 

c. Net Worth: Rs 3.81 million

12:59 PM

MARKET CHECK | Tata Steel trades at day's low

12:49 PM

Rupee check

12:44 PM

IPO ALERT | CSB Bank fixes Rs 193-Rs 195 as price band

-- IPO to be launched on Nov 22

-- While 75 per cnet of the offer is kept aside for qualified institutional buyers (QIBs), 15 per cent is reserved for non-institutional investors and 10 per cent for retail investors.

-- CSB Bank says Fairfax will continue to hold about 50% stake in the bank after listing. Fairfax will have to reduce stake to 15% in 15 years as per RBI norms

12:42 PM

MARKET CHECK:: Sensex up over 200 pts

12:29 PM

Contribution to Sensex's gain today

12:28 PM

Sector watch | Nifty PSB index gains the most

12:18 PM

Consumption stocks zoom in 10 years despite fall in consumer spend

The Nifty Consumption index, a barometer of companies that represent the domestic consumption sector, including consumer non-durables, healthcare, auto, telecom services, pharmaceuticals, hotels, media & entertainment, surged nearly 228 per cent in the last 10 years and has outperformed the frontline Nifty50 that moved up nearly 138 per cent during this period.

 

Nearly all stocks that comprise the index, except Tata Power that dipped 56 per cent, have given stellar returns. Page Industries, Havells India, Britannia Industries, Titan Company and TVS Motor Company have jumped a huge 1,475 per cent to 3,230 per cent on an absolute basis during this period. Of the 25 stocks that comprise the index, 16 have given a three-digit return, ACE Equity data show. READ MORE

12:08 PM

Buzzing | Reliance Ind hits new high