Sensex ends 100 pts higher, Nifty above 10,200 ahead of Infosys results

All that happened in the market today

3:41 PM

Top Sensex gainers and losers

Source: BSE

3:35 PM

Broader Markets

In broader markets, BSE Midcap index gained 0.2% and BSE Smallcap index was up 0.5%

3:33 PM

Markets at close

The benchmark indices settled the day higher ahead of Infosys earnings and October F&O expiry with Nifty50 ending above 10,200.

The S&P BSE Sensex ended at 32,607, up 100 points and the broader Nifty50 ended at 10,207, up 22 points

3:19 PM

BUZZING STOCK

Panacea Biotec surged 15% to Rs 276, also its 52-week high on the BSE, after the company announced the launch of Prasugrel tablets in US market.

 

The company said that its first-to-file Abbreviated. New Drug Application (ANDA) of Prasugrel 5mg and 10mg tablets have been approved by the United States Food & Drug Administration (USFDA).

3:07 PM

Asian Paints Q2

 

Consolidated PAT at Rs 578 crore

 

Consolidated revenue at Rs 4,274 crore

Earnings Impact

 

3:00 PM

Market Check at 3

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,602.86	+96.14	+0.30
S&P BSE SENSEX 50	10,591.47	+28.10	+0.27
S&P BSE SENSEX Next 50	34,948.31	+17.61	+0.05
S&P BSE 100	10,609.88	+24.44	+0.23
S&P BSE MidCap	16,178.07	+30.10	+0.19

2:50 PM

Buzzing Stock

Automotive Stampings & Assemblies fell 2.75% to Rs 86.70 at 13:58 IST on BSE after the company reported net loss of Rs 14.24 crore in Q2 September 2017, higher than net loss of Rs 4.44 crore in Q2 September 2016.

2:36 PM

Top Sensex gainers and losers

Source: BSE

2:17 PM

IT sector falls before Infosys results

Source: NSE

2:04 PM

Listing

 

State-owned General Insurance Corporation of India will make stock market debut tomorrow after having concluded the Rs 11,370-crore initial public offer (IPO).

 

GIC Re's IPO was oversubscribed 1.38 times during October 11-13.

 

The reinsurance company had fixed the price band at Rs 855-912 for its IPO.

1:45 PM

BUZZING STOCK

Zee Entertainment Enterprises rose 4.79% to Rs 516.45 at 12:59 IST on BSE after consolidated net profit jumped 148% to Rs 591.20 crore on 6.7% decline in operating revenue to Rs 1582.10 crore in Q2 2017 (YoY)

1:33 PM

Europe check

 

European markets opened slightly lower, as investors continued to monitor the latest corporate earnings reports and kept a close eye on Spain's constitutional crisis.

 

The pan-European Stoxx 600 edged 0.1% lower shortly after the opening bell with almost all sectors and major bourses in negative territory.

1:18 PM

PSBs in focus

 

Shares of public sector banks (PSBs) were in focus with Andhra Bank, Syndicate Bank and Punjab National Bank (PNB) rallying over 5% each on the National Stock Exchange (NSE) amid reports that the government may announce capital infusion plan for the state-run banks.

 

State Bank of India (SBI), Bank of Baroda, Bank of India, Central Bank of India, Oriental Bank of Commerce, IDBI Bank and Union Bank of India were up in the range of 3% to 4%. Real full report here

1:04 PM

Markets at 1pm

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,596.62	+89.90	+0.28
S&P BSE SENSEX 50	10,597.49	+34.12	+0.32
S&P BSE SENSEX Next 50	35,001.04	+70.34	+0.20
S&P BSE 100	10,617.54	+32.10	+0.30
S&P BSE MidCap	16,179.73	+31.76	+0.20

(Source: BSE)

12:47 PM

Economy watch

The back-ended redemption of state Development Loans (SDLs) and the possible funding of crop loan waivers by some states in H2 FY2018, could result in a rise in the gross market borrowings of the state governments to Rs. 3.0-3.2 lakh crore in H2 FY2018 from Rs. 1.8 lakh crore in H1 FY2018, in ICRA’s view. As a result, total SDL borrowings in FY2018 could be in the range of Rs. 4.8–5.0 lakh crore, higher than ICRA’s initial baseline estimate of Rs. 4.5 lakh crore

12:46 PM

HDFC Bank Q2

Cost to income ratio at 42.6%

12:45 PM

HDFC Bank Q2

Net NPA at 0.43% vs 0.44% (QoQ)

12:44 PM

Earnings Impact: HDFC Bank continued trading flat post Q2 numbers

12:41 PM

Earnings: HDFC Bank

Gross NPA at 1.26% vs 1.24% (QoQ)

12:41 PM

Earnings: HDFC Bank

PAT at Rs 4,150 crore: Reports

12:40 PM

After Aircel deal collapse, RCom's merger with Sistema Shyam gets DoT nod

 

The Department of Telecom (DoT) has cleared the merger of Sistema Shyam Teleservices with Reliance Communications, a deal that will reduce the number of mobile operators in the country to ten.

 

"Reliance Communications Limited (RCOM) has received the Department of Telecommunication's (DoT) approval for the demerger of the wireless business of Sistema Shyam Teleservices Limited (SSTL) into RCom," the Anil-Ambani led telecom firm said in a statement.

 

According to a source, the deal was cleared by the DoT on October 20. READ MORE

12:30 PM

Earnings 

 

Media house Zee Entertainment Enterprises' consolidated profit grew by a whopping 147.8 percent year-on-year to Rs 590.80 crore, largely led by proceeds from sale of sports broadcasting business.

 

The company has earned an exceptional gain of Rs 134.61 crore as the Group has concluded closure of its second phase of transaction for disposal of sports broadcasting business to Sony Pictures Networks India.

12:15 PM

Havells India falls 6% post September-quarter earnings

 

Havells India dipped 6% to Rs 512 on the BSE in intra-day trade in otherwise firm market after the company reported single digit growth in standalone net revenue (excluding Lloyd) at Rs 1,508 crore in September quarter (Q2FY18).  It had net revenue of Rs 1,452 crore in Q2FY17.

 

Net profit of the company during the quarter under review grew 9% to Rs 159 crore against Rs 146 crore in the corresponding quarter of previous fiscal. READ MORE

12:00 PM

Markets at 12

Source: BSE

11:53 AM

Sectoral trend

Source: NSE

11:36 AM

Interview of the day

 

It is a good market for bottom-up stock picking: Jigar Shah

 

With the mid-and small-caps outperforming the frontline indices thus far in calendar year 2017 (CY17), JIGAR SHAH, chief executive officer, Maybank Kim Eng Securities tells Puneet Wadhwa that they will now need earnings delivery to sustain at the current levels. READ FULL INTERVIEW HERE

11:14 AM

BSE Smallcap index hits new high; up 50% from November 2016 low

 

Shares of smallcap companies continued their upward movement with the S&P BSE Smallcap index hitting a new high of 17,240 on the BSE in intra-day on Tuesday.

 

The index has rallied 50% from its 52-week low of 11,463 touched on November 22, 2016 in intra-day trade.

 

As many as 174 stocks from the S&P BSE Smallcap index have become multi-baggers and rallied over 100% since November 22, 2016. Of these 47 stocks zoomed more than 200% each. READ MORE

10:55 AM

From strategy to new CEO names: 5 things to watch for in Infosys Q2 results

 

Infosys, India’s second-largest IT services firm, is widely expected to cut its growth forecast for the current financial year on account of a competitive business environment. The company's revenues are likely to grow between 1.5 and 2.5 per cent in constant currency terms as estimated by four brokerage firms considering wage hike impact. 

 

The company will announce growth strategies after co-founder Nandan Nilekani coming at the helm. Infosys management commentary will be keenly watched on areas such as probable names of the next chief executive officer, digitisation roadmap and deal wins in its largest market in the US after the "abrupt" exit of first non-founder CEO Vishal Sikka in August. 

 

Click here for 5 things to watch for in Infosys Q2 results

10:44 AM

BUZZING STOCK

S Chand & Company rose 6.26% to Rs 483.60 on BSE after HDFC Mutual Fund bought 2.96 lakh shares, or 0.85% equity, of the company at Rs 455 each on NSE yesterday.

10:31 AM

Centrum Research on Tata Sponge

 

Rating: Buy

Target Price: Rs 1,125 

CMP: Rs 935

 

We maintain our Buy rating on Tata Sponge (TSIL) and revise our TP to Rs1125 as spreads have continued to improve and outlook on the sustenance of the same is strong which gives confidence of smart recovery in earnings over FY18-19E. 

 

Q2 earnings were strong YoY led by better pricing and company remains on track to achieve its full year volume targets. TSIL had earlier indicated its plans to foray into steelmaking through the brownfield route but we await final details on the size of the first phase and investments therein. 

 

Stock trades at FY19E EV/EBITDA of 3.7x and a five year AOCF/EV yield of 9.3% which keeps risk-reward favourable.