Sensex tanks 383 pts, Nifty holds 11,700 in volatile trade; India VIX up 8%

All that happened in the markets today

4:01 PM

Sectoral trend on NSE

4:01 PM

Heatmap: S&P BSE Sensex

3:44 PM

Market at close

The S&P BSE Sensex ended at 38,970, down 383 points while the broader Nifty50 index settled at 11,709, down 119 points

3:29 PM

Bharti Airtel trades lower

3:13 PM

Tata Motors skids 8% as Q4 profit slips 47% to Rs 1,117 crore

Tata Motors slipped 8 per cent to Rs 174 on the BSE in intra-day trade after the automaker reported a 47 per cent drop in net profit at Rs 1,117 crore for March quarter (Q4FY19). Consolidated revenue was down 4 per cent at Rs 86,422 crore on year-on-year (YoY) basis. Ebitda (earnings before interest, tax, depreciation and amortisation) margin came in at 9.4 per cent, down 258 basis points (bps) YoY and up 151bps on quarter-on-quarter (QoQ) basis. READ MORE

3:08 PM

NEWS ALERT | Vedanta declared preferred bidder for 2 copper blocks in Maharashtra: CNBC TV18

3:07 PM

Stocks that hit 52-week high on S&P BSE Sensex

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ADANI PORTS	390.50	412.00	-9.80	-2.45
AXIS BANK	773.00	791.00	-9.75	-1.25
BAJAJ FIN.	3413.05	3484.90	6.35	0.19
BAJAJ FINSERV	8155.00	8327.70	-63.10	-0.77
CITY UNION BANK	208.05	209.85	3.65	1.79

3:03 PM

Nifty PSU Bank index trades 1.7% lower, dragged down by Union Bank and Indian Bank

3:02 PM

Buzzing | Jet Airways sees sharp surge

3:00 PM

Market breadth in favour of decline

2:59 PM

Market check | Nifty50 hovers around 11,700, down over 1%

2:59 PM

Jet Airways extends gains on reports of talks with Hinduja Group

2:58 PM

Market check | Sensex loses over 400 points

2:58 PM

MARKET CHECK

2:42 PM

Maruti Suzuki dips over 2%

2:36 PM

ICICI Securities on Graphite India

While global graphite electrode prices have witnessed a softening trend; the uptick in prices of key raw material (viz. needle coke) is likely to impact the

company’s margin profile. We downward revise capacity utilisation level to 82.0% for FY20E (from 85% earlier) and introduce FY21E capacity utilisation at 82.0%. We value the stock at 6x FY21E EPS and arrive at a target price of Rs 400. We have a HOLD recommendation on the stock.

2:34 PM

March Telecom data: Bharti Airtel added 59,389 users vs loss of 49,896 users (MoM)

2:33 PM

NCDEX plans IPO to provide exit option to early investors, raise capital

The country's largest agri-centric commodity derivative exchange, the National Commodity & Derivatives Exchange Limited (NCDEX), is working on a plan to float an Initial Public Offering (IPO) in order to provide an exit option to some shareholders who have stayed invested since long and raise growth capital. The National Stock Exchange of India or NSE is the largest shareholder with 15 per cent equity holding. The irony is that NSE has not been able to come out with an IPO. READ MORE

Illustration: Ajay Mohanty

2:21 PM

JK Cement surges 17% in two days on strong Q4 earnings; hits 52-week high

JK Cement shares hit a 52-week high of Rs 994, up 10 per cent on Tuesday, surging 17 per cent in the past two trading days, after reporting a 55 per cent year-on-year (YoY) growth in its net profit at Rs 150 crore in March quarter (Q4FY19). The company had repprted a profit of Rs 96 crore in year-ago quarter. Net sales grew 12 per cent at Rs 1,470 crore against Rs 1,307 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, tax, depreciation and amortization) margin improved 490 bps at 18.7 per cent in Q4FY19, on back of healthy realisation. READ MORE

2:12 PM

Nifty Media index tumbles around 2.5%

1:33 PM

Jet Airways zooms over 7% on reports of Etihad, Hindujas meet in Abu Dhabi on May 23

1:27 PM

China's market turning sour as trade war pushes foreigners away

Expectations that US$200 billion of foreign money would flow into China’s capital markets this year are looking nothing short of optimistic. For overseas investors, a weaker currency is the latest factor making yuan-denominated assets less attractive.

 

They’ve been selling mainland-listed stocks at a record pace and their demand for Chinese bonds has been relatively tepid: monthly inflows have averaged at just 6.8 billion yuan ($984 million) this year, versus the 44.4 billion yuan seen in 2018, ChinaBond data show. READ MORE

1:14 PM

Vodafone Idea dips almost 3.6%

1:04 PM

Stocks that hit 52-week low on S&P BSE Sensex

COMPANY	PRICE(rs)	52 WK LOW	CHG(rs)	CHG(%)
FORTIS HEALTH.	126.50	125.95	-0.40	-0.32
STERLITE TECH.	163.65	163.50	-4.30	-2.56
T.V. TODAY NETW.	270.20	270.20	-5.75	-2.08

1:03 PM

Bosch Q4 earnings: EBITDA slumps 25.3% at Rs 516.5 cr; Margin slides 310 bps at 18.8%

1:02 PM

Bosch Q4 earnings: Revenue slips 12.9% at Rs 2,749 cr; Profit drops 5.1% at Rs 411.7 cr

12:50 PM

Markets slides into the red zone

12:41 PM

ICICI Securities on Balkrishna Industries

We expect sales, EBITDA and PAT to grow at 7.8%, 14.3% & 6.5% CAGR, respectively, over FY19-21E. We feel that with modest growth on the horizon and gradual revival in margins, current high valuation multiples have room for some correction. We value the company at 16x its FY21E EPS of Rs 46 to arrive at a target price of Rs 740 per share. We maintain our HOLD rating on the stock. We derive comfort from BIL’s debt free balance sheet, healthy double-digit return ratios and ~8% CFO yield. 

12:39 PM

HDFC Securities on Balaji Amines

RECO: BUY

 

TARGET PRICE: Rs 525

 

We cut our estimates on account of (1) Consistently poor volume growth, (2) Vagueness on imposition of Anti-dumping duty on Di-methyl Formamide (DMF), (3) Deferment of capacity augmentation projects to FY21. 

 

12:35 PM

United Breweries zooms almost 7%