Sensex, Nifty end lower after last hour selloff; India VIX climbs 5%

All that happened in the markets today

3:43 PM

Sectoral trend on NSE

3:42 PM

Gainers and losers of the day on S&P BSE Sensex

3:41 PM

Market at close | NSE Nifty dips 65 points to close at 11,157

3:40 PM

Market at close | BSE Sensex closes 204 points lower at 37,114.88

3:29 PM

Amara Raja Q4 results: Profit grows 8.7 per cent to Rs 119.3 cr

3:23 PM

Stocks that have plunged in last month

Eveready Industries and Jet Airways tanked over 50 per cent, while YES Bank, Reliance Capital, Reliance Power, DHFL, Graphite India, IFCI, Dish TV and Escorts were down 30 per cent to 46 per cent in past month.

3:13 PM

Lupin falls over 4 per cent after Q4 results announcement

3:09 PM

NEWS ALERT | Lupin Q4 results: EBITDA grows 28.5 per cent to Rs 872.3 cr

3:08 PM

NEWS ALERT | Lupin Q4 results: Revenue increase 10% to Rs 4,406.3 cr

3:07 PM

NEWS ALERT | Lupin Q4 results: Rs 289.6 cr profit vs Rs 783.5 cr loss in year-ago quarter

3:02 PM

NEWS ALERT | China April industrial output cools, retail sales growth falls to 16-yr low

China on Wednesday reported surprisingly weaker growth in industrial output and retail sales for April, reinforcing expectations that Beijing needs to roll out more stimulus measures as the trade war with the United States escalates.

Growth in industrial output slowed more than expected to 5.4 percent in April from a year earlier, pulling back from a surprising strong 4-1/2 year high of 8.5% in March, which some analysts had suspected was boosted by seasonal and temporary factors. Retail sales were also worse than expected, with the headline number rising 7.2%, the slowest pace since May 2003, data from the National Bureau of Statistics (NBS) showed. That compared with March’s 8.7% and forecasts of 8.6%, highlighting concerns that consumers are growing less confident as the economic slows and the trade war drags on.


(Reuters)

2:58 PM

Zuari Agro hits 52-week low as ICRA downgrade credit ratings

Zuari Agro Chemicals (ZACL) shares hit 52-week low of Rs 142, down 7 per cent, in intra-day trade on the BSE, after the fertiliser company said rating agency ICRA downgraded credit ratings of the company's various instruments. The rating revision factors in the devolvement of several Letters of Credit (LCs) by the company in the month of April and May 2019 and overutilisation of fund based facilities owing to significant delays in the subsidy receipt from Government of India (GoI) and weak liquidity position of the company driven by significant cash loss in April-December period (9MFY2019), ICRA said. READ MORE

2:42 PM

Nifty Metal index is trading 1.2% lower, led by losses in JSW Steel and Jindal Steel

2:26 PM

BofA on interest rates

The RBI is set to cut rates by 75-100bp on a benign inflation outlook in 2019 in contrast to 2018's 50bp hike as inflation was peaking off. With May inflation tracking 3.2%, well within its 2-6% mandate, the RBI MPC should cut 25bp on June 6 (and August 7, if rains are normal). After all, the RBI's real policy rate, at 3%, is still far above its 125-175bp 'target'. 

2:25 PM

Edelweiss on Voda-Idea

We are enthused by IDEA’s good execution on integration and improving revenue trajectory despite subscriber loss. However, we are concerned about weak usage traction, which makes its subscribers susceptible to churn in case of SIM consolidation. The stock is trading at 12.1x FY21E EV/EBITDA. We maintain ‘HOLD/SP’ with revised DCF-based target price of Rs15 (Rs 18 earlier)

2:23 PM

Elara Capital on OMCs

We have a cautious stance on OMC as we see limited upside to GRM from the current levels and given that retail margin would be capped due to rising competition from private firms, such as Reliance.

We prefer IOC among OMCs, as its earnings are the most diversified. We recommend Accumulate on BPCL and raise our target price to Rs 409. We revise our rating for HPCL to Accumulate from Buy and raise our target to Rs 307. We revise our rating for IOCL to Accumulate from Buy

2:22 PM

Jefferies on Pharma sector

Global generic pharma stocks fell 5-15% recently on concerns of drug pricing case filed by 44 US states. The investigation, which has been ongoing since 2016, with the first case filed in Dec that year, may take up to two years to resolve and could result in fines for the firms involved if prior cases of such alleged collision are an indication. Among Indian companies, SUN Pharma (BUY) & Lupin (U/P) have benefited the most from products where prices had risen

2:03 PM

MARKET CHECK

1:52 PM

Tata Motors dips almost 6.5%

1:41 PM

Essel Group shares trade weak; Zee Ent, Zee Media, Dish TV down 10%

Shares of Subhash Chandra-led Essel Group companies were under pressure on Wednesday with Zee Entertainment Enterprises (ZEE), Dish TV India and ZEE Media Corporation falling by up to 11 per cent on the BSE on the back of heavy volumes. Zee Media Corporation plunged 11 per cent to Rs 12.88 after the company reported a consolidated net loss of Rs 86.66 crore, due to one-time loss of Rs 103 crore in March quarter (Q4FY19). It had posted profit of Rs 4.48 crore in the year-ago quarter. READ MORE

1:22 PM

Check out the key trading strategies as markets head towards Exit Polls

With the last phase of voting now left before the markets react to Exit Polls on May 20 morning, markets have gyrated between sharp fall and an equally impressive recovery over the past few days. On Tuesday, benchmark indices snapped their nine-day losing streak, helped by gains in Reliance, ITC and State Bank of India to end a volatile session with gains. The S&P BSE Sensex ended the day 228 points, or 0.61 per cent, higher at 37,319, with Sun Pharma, Bharti Airtel, Vedanta, IndusInd Bank, and State Bank of India among the top gainers. READ MORE

1:09 PM

China is only taking actions in self defence: China's Foreign Minister

1:09 PM

It's the US that's defining trade dispute as trade war: China's Foreign Minister

12:55 PM

Hot baths: Private equity sees opportunity in getting naked with strangers

For Japan’s growing flood of foreign tourists, one of the top internet search terms is “onsen,” the traditional hot springs where travelers have soaked since the days of the samurai. Now some of the world’s oldest businesses are attracting big new money.

 

Private equity funds like SoftBank-owned Fortress Investment Group LLC and Hong Kong-based Odyssey Capital Group are spending billions to tap into the appeal of traditional inns amid a tourism boom that’s ramping up ahead of next year’s Tokyo Olympics. READ MORE

12:52 PM

Monsoon will be delayed by five days; to hit Kerala on June 6: IMD

The monsoon will hit the Kerala coast on June 6, five days after its normal onset date, the India Meteorological Department (IMD) said on Wednesday.

 

"This year, the statistical model forecast suggests that the monsoon onset over Kerala is likely to be slightly delayed. The southwest monsoon onset is likely to set over Kerala on 6th June with a model error of plus or minus 4 days," the IMD said. READ MORE

12:43 PM

NEWS ALERT | NSE penalises about 250 companies w.r.t non-compliance with listing regulations: CNBC TV18

12:39 PM

NEWS ALERT | Karur Vysya Bank proposes dividend of Rs. 0.60/equity share of Rs. 2/- each for FY19

12:27 PM

IIFL Holdings plunges 7%

12:13 PM

SRF, DCB Bank,Titan, Merck hit record highs on strong March Qtr performance

March quarter earnings for most companies have been a mixed bag so far. Among these, however, SRF, DCB Bank, Titan Company and Merck are some of the few companies on the S&P BSE 500 index, which hit their respective record high on Wednesday. All of them reported a strong earning in the recently concluded quarter for FY19. DCM Shriram from the index hit 52-week high on good results for the quarter. READ MORE

12:08 PM

NEWS ALERT | Karur Vysya Q4 result

- Gross NPA up nearly 10% to Rs 4,450 cr sequentially.

- Net NPA up 5.4% to Rs 2,420.3 crore q-o-q