MARKET WRAP: Infy ends 2% higher ahead of Q1 results; Sensex ends flat

Among sectoral indices, the Nifty PSU Bank index fell over 2% weighed by a decline in Canara Bank and Indian Bank.

3:53 PM

Infosys ended over 2% higher on the NSE

3:51 PM

Nifty PSU Bank index settles 2.05% lower. Top losers:

COMPANY	LATEST	PREV CLOSE	LOSS( )	LOSS(%)
CANARA BANK	231.75	241.95	-10.20	-4.22
BANK OF INDIA	81.70	84.85	-3.15	-3.71
INDIAN BANK	334.75	347.60	-12.85	-3.70
ALLAHABAD BANK	40.60	42.00	-1.40	-3.33
ORIENTAL BANK	70.95	73.15	-2.20	-3.01

3:44 PM

Nifty sectoral losers of the day

3:42 PM

BSE Sensex: Infosys settles 2.12% higher. RIL rises 1.37%.

3:33 PM

Market at close

 

The S&P BSE Sensex ended at 36,542, down 7 points while the broader Nifty50 index settled at 11,019, down 4 points.

3:16 PM

BSE Smallcap index falls over 1%; PVR, Inox Leisure tank up to 14%

Shares of smallcap companies were under pressure with the S&P BSE Smallcap index falling more than 1% after a sharp decline in stock prices of PVR, KNR Constructions, Inox Leisure and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC). READ MORE

3:00 PM

Gold prices subdued as dollar extends gains

Gold prices were muted on Friday, stuck in a tight trading range, as the dollar extended rally from the previous session when strong U.S. inflation data and trade war concerns boosted demand for the greenback.

 

Spot gold was down 0.1 percent at $1,245.54 an ounce, as of 0652 GMT. For the week, the metal was down 0.7 percent. READ MORE

2:45 PM

NEWS ALERT People would be allowed to carry food items along with them in cinema halls and in multiplexes in Maharashtra: Maha Govt

Stock Impact

 

2:30 PM

Buzzing Stock

Idea Cellular share price fell 2.7 per cent intraday on Friday after global research firm Credit Suisse maintained its Underperform rating on the stock with a target price at Rs 45, implying a 17 per cent downside.

 

After the merger between the company and Vodafone, the new entity may prioritise cost savings over market share retention and the cost base should be close to current Bharti mobile cost base, the research house said.

2:14 PM

Bajaj Finance hits new high; stock rises 32% in two months since Q4 results

Shares of Bajaj Finance hit a new high of Rs 2,460 per share on the BSE, rising by 2% today and extending their 2.5% gain on Thursday, on expectations of healthy financial performance for the quarter ended June 2018 (Q1FY19).
 

In past two months after the March quarter (Q4FY18) results, Bajaj Finance have outperformed the market by surging 32% as compared to 2.8% rise in the S&P BSE Sensex. READ MORE

2:00 PM

Market Check

 

S&P BSE Sensex	36,584.63		0.10%
Nifty 50	11,031.25		0.07%
S&P BSE 200	4,713.95		-0.16%
Nifty 500	9,362.80		-0.19%
S&P BSE Mid-Cap	15,449.40		-0.66%
S&P BSE Small-Cap	16,229.89		-1.16%

1:45 PM

Convert physical shares into demat at the earliest: All you need to know

 

Financial planners say there are many clients who keep shares in physical form. These investors believe that having them in bank lockers insulates them from any fraud. They are wrong.

 

There is a big chance that such shares may be duplicated, and fraudsters might claim dividends and other benefits that would have been theirs. Against this backdrop, the Securities and Exchange Board of India's (Sebi’s) recent directive to shareholders that their share certificates should be converted into dematerialised (demat) form by December 5, 2018, comes at the right time. READ MORE

1:29 PM

Cyient slips after weak Q1 results

 

Cyient fell 3.42% to Rs 716.65 on BSE after consolidated net profit fell 32.67%. Net sales rose 1.71% to Rs 10.80 billion in Q1 June 2018 over Q4 March 2018. 

The result was announced after market hours yesterday, 12 July 2018. READ MORE

1:17 PM

Top gainers in BSE500:

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)
SONATA SOFTWARE	333.50	316.25	17.25	5.45
MPHASIS	1211.00	1169.60	41.40	3.54
FORTIS HEALTH.	146.85	142.15	4.70	3.31
SHRIRAM TRANS.	1253.65	1214.00	39.65	3.27
MAHINDRA LIFE.	612.35	594.05	18.30	3.08

1:01 PM

Infosys gains ahead of Q1 results

Infosys rose 2.8% to Rs 1330.90 on BSE ahead of the company's Q1 June 2018 results later today, 13 July 2018. On the BSE, 2.08 lakh shares were traded in the counter so far compared with average daily volumes of 2.18 lakh shares in the past two weeks. READ MORE

12:46 PM

9 IT stocks including KPIT Tech, Mphasis rally over 100% in one year

KPIT Technology, Mphasis and Larsen & Toubro (L&T) Infotech were among nine information technology (IT) companies that rallied more than 100% in past one year, hitting fresh record highs on the BSE on Friday on expectation of healthy earning in April-June quarter (Q1FY19).

Sonata Software, Hexaware Technologies, Firstsource Solutions, Mindtree, Infinite Computer Solutions (India) and NIIT Technologies, too, doubled their market price in one year. READ MORE

12:33 PM

Pricing worries weigh on agri-input stocks: Higher MSP, good rain positives

At a time when the country is witnessing its third consecutive year of good/normal monsoon, few would expect agri-input stocks to fall. Over the past six months, many have corrected significantly with Rallis India, PI Industries, UPL and Coromandel International, among others, down 23-33 per cent from their January highs. READ MORE

12:15 PM

Digital payments: Sebi bars stock brokers from accepting cash from clients

 

Sebi on Thursday barred stock brokers from directly accepting cash from their clients as it looks to promote digital payments.Besides, stock brokers are not permitted to receive cash deposits in their bank accounts from clients. READ MORE

12:00 PM

Markets at Noon

 

S&P BSE Sensex	36,590.87		0.12%
Nifty 50	11,034.90		0.11%
S&P BSE 200	4,712.56		-0.19%
Nifty 500	9,363.05		-0.19%
S&P BSE Mid-Cap	15,436.38		-0.74%
S&P BSE Small-Cap	16,231.93		-1.15%

11:44 AM

EARNINGS PREVIEW Nandan Nilekani may have a longer stint at Infosys; Q1 earnings on Friday

 

Infosys non-executive chairman Nandan Nilekani is going to helm its board of directors for a longer period than expected, according to multiple sources in the know.

 

Nilekani, who co-founded Infosys along with six others, returned to the technology services company after eight years to chair the board in August when the Bengaluru-headquartered firm was in desperate need of bringing back stability after the exits of Vishal Sikka, the then chief executive officer (CEO), and chairman R Seshasayee. READ MORE

11:30 AM

Top Nifty50 gainers

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)	VOLUME
WIPRO	284.10	279.45	4.65	1.66	4493579
INFOSYS	1314.00	1294.35	19.65	1.52	2467185
RELIANCE INDS.	1096.70	1082.35	14.35	1.33	8141731
KOTAK MAH. BANK	1405.45	1389.80	15.65	1.13	458444
COAL INDIA	268.00	265.25	2.75	1.04	1554391

11:14 AM

TVS Motor: Higher volumes, premium launches seen as key drivers of earnings

A gradual recovery in domestic volume growth performance and new launches in the premium category, both in scooters and motorcycles, is expected to help TVS Motor post strong volume growth and improve margins, going ahead. Domestic two-wheeler volume growth has been disappointing in May, as sales dipped to 2.4 per cent year-on-year, before recovering partially in June to about 8 per cent. READ MORE

11:04 AM

Rupee climbs 25 paise to hit 3-week high of 68.32 against US dollar

Rising for the third day, the rupee appreciated by 23 paise to trade at a three-week high of 68.32 against the US dollar on Friday amid easing food prices, and continued selling of the greenback by banks and exporters. READ MORE

10:56 AM

Sector watch Construction

Over last two months, the construction stocks have witnessed a sharp correction mainly led by visible reversal of interest rate scenario and concerns over timely execution of HAM projects due to funding constrains. However, we believe that the companies with healthy balance sheet are unlikely to witness any substantial execution delay and are likely to witness a sustained earnings growth, going forward. Top Picks: NCC and J. Kumar Infra

(Source: Reliance Securities)

10:55 AM

COMMENT BofA on inflation and rates

We believe that inflation will peak off at June's 5% (BoFAMLe 5.2%, consensus 5.3%) barring a September spike. As base effects reverse, we track July inflation at 4.8%. Although core CPI has gone up to 5% from 5.2% in May, this too is partly on base effects. We continue to expect inflation to peak off to 4.6% in 2HFY19, even after factoring in the 25-50bp upside surprise in Delhi's MSP hike.

At the same time, we cannot deny that rains, at a poor 92% of normal (below the Met's 101% forecast for July), have emerged as a key risk. While a rate hike against a rain shock will hurt growth rather than agflation, it will not be easy for this RBI MPC to stand still higher inflation. We will review our RBI rate call of long hold after watching the rains

10:46 AM

Coal India share prices at around Rs 270 apiece may dampen stake sale again

 

Even as Coal India is preparing to attract investors for its stake sale, share prices—which remain tepid at around Rs 270 apiece—may act as a dampener. According to Securities and Exchange Board of India (Sebi) regulations, the government can own 75 per cent of equity shares in a public sector enterprise.

 

Currently, the government holds 78.32 per cent in this Maharatna company and sale of only 3.32 per cent would enable it meet the norm. READ MORE

10:30 AM

RIL's market cap breaches Rs 7-trillion mark for the first time

Reliance Industries (RIL) crossed Rs 7 trillion market capitalisation (market cap) mark for the first time on Friday and became second Indian firm to cross this mark after information technology giant Tata Consultancy Services (TCS).
 

The stock touched a fresh record high of Rs 1,107 on BSE, up by 2.5% from its previous close with a market cap rising to Rs 7.01 trillion at 09.52 am; the BSE data shows. TCS is at top of the rank with Rs 7.55 trillion market cap, the BSE data shows. READ MORE

10:15 AM

HCL Tech slips 2% after board approves share buyback proposal

 

Shares of HCL Technologies have slipped 2.3% to Rs 982 per share on the BSE in otherwise firm market after the company said it had received its board's approval to conduct a share buyback of up to 36.3 million equity shares worth nearly Rs 40 billion. The company made announcement on Thursday after market hours.

 

The buyback price of Rs 1,100 per share is at around 9% premium over its Thursday’s closing market price of Rs 1,005 at BSE. Currently, the promoters’ holding in the company stands at 60%. READ MORE

10:00 AM

Market Check

 

S&P BSE Sensex	36,702.50		0.42%
Nifty 50	11,067.70		0.40%
S&P BSE 200	4,730.91		0.20%
Nifty 500	9,403.40		0.24%
S&P BSE Mid-Cap	15,522.21		-0.19%
S&P BSE Small-Cap	16,376.41		-0.27%

9:45 AM

KKR-backed Avendus Capital joins race to acquire IDFC Mutual Fund

Global private equity KKR-backed Avendus Capital has thrown its hat in the ring to buy IDFC Mutual Fund, said two people in the know. Avendus, which has diversified offerings across wealth management, alternative asset management and structured credit, was acquired by KKR in 2015. READ MORE