MARKET WRAP: Indices end flat, Nifty at 10,380; YES Bank rallies 9%

Nifty IT index was the top loser of the day, falling 2.1 per cent weighed by HCL Technologies and Infosys. On the other hand, among gainers, the Nifty Metal index rose 1.3 per cent led by NMDC.

3:38 PM

Top sectoral gainers and losers on NSE

3:38 PM

S&P BSE Sensex: Top gainers & losers

3:35 PM

Market At close

The S&P BSE Sensex on Thursday ended flat at 34,431.97, down 10 points while NSE's Nifty50 index closed just 6 points lower at 10,380.45. 

3:15 PM

Bajaj Electricals Q2 net jumps 79.56% to Rs 34.08 cr

Consumer durables firm Bajaj Electricals Thursday posted a 79.56 per cent year-on-year jump in standalone net profit at Rs 34.08 crore for the second quarter ended September. It had reported a net profit of Rs 18.98 crore in the corresponding quarter last fiscal.

 

Total income increased to Rs 1,604.20 crore during the quarter under review, from Rs 946.13 crore in the same quarter last fiscal, it said in a release. READ MORE

3:12 PM

HDFC net profit rises 25% to Rs 2,467 crore in Q2

Mortgage lender HDFC Ltd Thursday reported 25 per cent rise in its standalone net profit to Rs 2,467.08 crore in second quarter ended September 30. The company had registered a net profit of Rs 1,978.19 crore in the corresponding period of 2017-18. READ MORE

3:01 PM

Sebi directs Sahara group, its chief Subrata Roy to refund Rs 141 bn

The Securities and Exchange Board of India (Sebi) has barred Sahara India Commercial Corporation (SICCL), its chief Subrata Roy Sahara and 13 other persons from dealing in the securities market for a period of four years, directly or indirectly, for allegedly breaching securities norms by raising money from the market through optionally fully convertible debentures (OFCDs).

 

The capital market regulator has also directed Sahara India, SICCL, Roy to refund Rs 141 billion along with 15 per cent interest from the date of this order, till the expiry of 4 years from the date of completion of refunds to investors. READ MORE

2:47 PM

Top gainers in BSE 500:

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
KEI INDS.	351.00	44.70	14.59	152669
PC JEWELLER	66.70	8.20	14.02	2885636
REL. COMM.	13.66	1.33	10.79	15347212
BOMBAY DYEING	115.00	10.45	10.00	780279
ADANI POWER	50.45	4.40	9.55	7383720

2:31 PM

Vedanta gains after declaring Q2 result

Vedanta rose 0.5% to Rs 212.30 at 13:41 IST on BSE after the company announced Q2 result after market hours yesterday, 31 October 2018. Meanwhile, the S&P BSE Sensex was up 23.74 points, or 0.07% to 34,465.79

 

On the BSE, 11.53 lakh shares were traded in the counter so far compared with average daily volumes of 9.05 lakh shares in the past two weeks. READ MORE

2:15 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,416.03	-26.02	-0.08
S&P BSE SENSEX 50	10,862.20	-9.29	-0.09
S&P BSE SENSEX Next 50	31,431.88	+117.65	+0.38
S&P BSE 100	10,660.02	-1.70	-0.02
S&P BSE Bharat 22 Index	3,432.71	+39.35	+1.16

2:00 PM

Escorts gains 10% on strong October sales

 

The company's tractor sales stood at 21,039 units during the second quarter (July-September) of the current fiscal witnessing a growth of 3.3%. READ MORE

 

1:45 PM

Rising gold prices likely to dampen Indian festive purchases: WGC

 

Indian gold demand in 2018 is expected to fall from the previous year as a rally in local prices to five-year highs is likely to dent purchases during key festivals in the December quarter, the World Gold Council (WGC) said on Thursday. READ MORE

1:29 PM

Ten years of Bitcoin: How it started and what the future might hold

A mysterious, anonymous entity known as “Satoshi Nakamoto” posted a white paper on October 31 2008 entitled “Bitcoin: A Peer-to-Peer Electronic Cash System”. It was the first time that the concept of Bitcoin entered the world. But outside of the cypherpunk mailing lists – those promoting the use of privacy-enhancing technology – this event was hardly noticed. Ten years on, who hasn’t at least heard of the cryptocurrency? READ MORE

1:15 PM

Adani Power hits 52-week high post Q2 results; stock soars 45% in one week

Shares of Adani Power hit a 52-week high of Rs 47.85 per share, up 4% on the BSE, after Adani Group company posted 22% year-on-year (Y-o-Y) growth in its consolidated net profit at Rs 3.87 billion in September quarter.
 

It had posted a profit of Rs 3.17 billion in the same quarter last year. The electric utility company had a net loss of Rs 8.25 billion in the previous quarter. READ MORE

1:03 PM

Tough road ahead for bruised rupee amid trade war, political risks: Poll

There will be little respite for the bruised Indian rupee over the coming year, depressed by an escalating US-China trade war and rising domestic political risks ahead of a general election, a Reuters poll showed.

 

Investors have generally shunned emerging-market assets this year, made riskier by the international trade tensions and the increasing attractiveness of dollar yields, thanks to the US Federal Reserve's steady pace of rate increases. READ MORE

12:50 PM

Stock alert: PC Jeweller up over 9%

12:45 PM

India jumps 23 spots to 77 in World Bank's ease-of-doing-business rankings

India jumped 23 places to come in at the 77th spot in the World Bank's latest ease-of-doing-business global rankings in 2018, a year after it had jumped 30 places. The World Bank’s ‘Doing Business 2019: Training for Reform’ report, released on Wednesday, showed India's rank in ease of doing business jump up from the 100th place among 190 countries. India had broken into the club of 100 nations easiest to conduct business in last year when it managed to jump 30 places from the 130th position. READ MORE

12:41 PM

NEWS ALERT Finance Minister Arun Jaitley: GST collections for October 2018 have crossed Rs. 1 lakh crore.

12:31 PM

Interview of the day There's urgency to improve credit assessment: Mirae Asset's Swarup Mohanty

Valuations have moderated and provide fa avorable risk-reward for long-term investors, says Swarup Mohanty, CEO, Mirae Asset Management. In an interview with Ashley Coutinho, Mohanty says liquidity in the bond markets, earnings trend over the next few quarters and political news flow in run-up to state and central government elections will be factors to watch out for. Click here to read the interview

swarup mohanty, ceo, Mirae Asset Management

12:13 PM

United Spirits surges 8% on strong September quarter results

Shares of India's largest alcoholic beverage company United Spirits (USL) has surged 8% to Rs 620, extending its past three days 11% gain on the BSE, after the company posted a strong 69% jumped in net profit at Rs 2.59 billion September quarter (Q2FY19). It had posted a net profit of Rs 1.53 billion in Q2FY18. READ MORE
 

12:02 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,351.13	-90.92	-0.26
S&P BSE SENSEX 50	10,842.74	-28.75	-0.26
S&P BSE SENSEX Next 50	31,386.34	+72.11	+0.23
S&P BSE 100	10,641.45	-20.27	-0.19
S&P BSE Bharat 22 Index	3,423.03	+29.67	+0.87

11:54 AM

Kalpataru Power rallies 11% on post Q2 results

Shares of Kalpataru Power Transmission (KPTL) rallied 11% to Rs 360 on the BSE in early morning trade after the company reported a 28% year-on-year (Y-o-Y) jump in its standalone net profit at Rs 914 million in September quarter (Q2FY19). READ MORE

11:43 AM

PMI manufacturing at robust 53.1 as new business orders, employment rise

The country's manufacturing sector activity improved in October, as firms scaled up production and employment levels amid strong rise in new business order flows, a monthly survey said Thursday.

 

The Nikkei India Manufacturing Purchasing Managers' Index strengthened from 52.2 in September to 53.1 in October as new orders and production increased at the quickest rate in four months. READ MORE

11:31 AM

As many as 44 securities hit 52-week lows on NSE

21STCENMGM	21st Century Management Services Limited	22.25	22.70	31-Oct-2018	22.95	22.70	0.25	1.10
8KMILES	8K Miles Software Services Limited	62.20	68.30	31-Oct-2018	69.50	68.30	1.20	1.76
AGARIND	Agarwal Industrial Corporation Limited	175.55	180.00	25-Oct-2018	185.00	187.70	-2.70	-1.44
AIFL	Ashapura Intimates Fashion Limited	79.50	83.65	31-Oct-2018	79.50	83.65	-4.15	-4.96
ANTGRAPHIC	Antarctica Limited	0.45	0.45	26-Oct-2018	0.50	.50	0.00	0.00

(Click here for the full list)

11:20 AM

Liquidity crisis: Centre, RBI see eye to eye in 'public interest'

 

The government and the central bank had disagreed on several issues such as dividend transfer, capital adequacy norms, and liquidity needs of non-banking financial companies (NBFCs). READ MORE

 

11:05 AM

Anand Rathi on IRB Infrastructure

With financial closure for the recently-bagged hybrid annuity projects (and anticipated for the Hapur-Moradabad BOT toll by end-CY19), the construction commencement (sooner than later) would benefit the EPC vertical. Comparable gross toll collection is rising, though the recent growth momentum is definitely underwhelming. Though we are optimistic about the EPC vertical for the next two years at least, subdued gross toll collection is a concern. If the situation persists, it could have a long-lasting impact on asset valuation and, thus, the asset-churn story. However, valuations after the recent stock-price fall have turned appealing. Thus, we raise our rating to a Buy.

10:58 AM

Devangshu Datta Auto numbers have a story to tell
 

The Q2 (July-Sep 2018) results are hard to analyse, due to the unusual activity during July-Sep 2017, a year ago. The GST (goods and services tax) was launched in July 2017 and it caused a period of serious disruption. It is possible to deseasonalise repetitive events like festivals with some confidence, due to data accumulation over many years. But GST was a one-off. READ MORE

10:46 AM

First-ever EOW-administered repaymment to NSEL investors effected

Mumbai's Economic Offences Wing administered the first-ever repayment of as much as Rs 300 million to investors of the now defunct National Spot Exchange (NSEL). The EOW is one of several agencies probing the Rs 56-billion default in 2013 to  investors. READ MORE

10:31 AM

Going against spirit of law, taxmen deny grandfathering benefit to FPIs

In what is being deemed as going against the spirit of the law, tax authorities are avoiding issuing a nil withholding tax certificate to entities from Mauritius and Singapore that have bought shares prior to April 1, 2017.

 

As per the amended treaties with these countries, shares bought prior to April 1, 2017 are eligible for grandfathering and no capital gains is to be paid on sale of these shares. Capital gains on derivatives and fixed income securities also remain exempt. READ MORE

10:17 AM

Bank of Baroda's strong Q2 results instills confidence in investors

The September quarter (Q2) results of Bank of Baroda (BoB) is among the best in recent times. PS Jayakumar, the lender's MD & CEO since October 2015, and his team have walked the talk on improving the bank’s asset quality.

 

While most government-owned banks (PSU Banks) have seen this metric bettering in Q2, BoB outperformed the pack with 20.6 per cent year-on-year reduction in bad-loan provisioning costs and slippages of Rs 22.8 billion coming in at seven-quarter low. READ MORE

10:01 AM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,397.11	-44.94	-0.13
S&P BSE SENSEX 50	10,849.03	-22.46	-0.21
S&P BSE SENSEX Next 50	31,425.14	+110.91	+0.35
S&P BSE 100	10,648.54	-13.18	-0.12
S&P BSE Bharat 22 Index	3,429.11	+35.75	+1.05