MARKET WRAP: Sensex slips 79 pts, Nifty ends at 10,585; IT stocks weigh

The Nifty IT index fell 0.8 per cent weighed by Infosys and Tata Consultancy Services (TCS) and the Nifty Metal index slipped 0.9 per cent due to a decline in NMDC

3:35 PM

Top sectoral gainers and losers on NSE

3:35 PM

S&P BSE Sensex: Top gainers & losers

3:33 PM

Market at close

The S&P BSE Sensex ended 79 points lower at 35,159 while NSE's Nifty50 index settled at 10,585, down just 13 points.  

3:17 PM

Pidilite's stock up 10% post weak Q2 results, will uptrend continue?

Pidilite Industries’ September quarter (second quarter or Q2) operational performance was almost in line with expectations with profit margin contracting amid inflationary pressures and consolidated net profit down 9 per cent year-on-year (YoY) at Rs 2.31 billion. Yet, the stock is up 10 per cent post results.

 

So what explains this, and will the uptrend continue? One reason is that the stock had already fallen over 20 per cent from a peak level of Rs 1,195 in August on worries over rising oil prices, and consequently expectations of weak Q2 results. READ MORE

3:05 PM

Nearly Rs 4 trillion of shares still held in physical form, shows analysis

The regulator may have a heavy task at hand with its recent attempts to phase out physical share certificates. While most trading happens in demat form, physical shares account for a significant chunk of holdings by value.

 

A Business Standard analysis of the latest shareholding patterns of 3448 listed companies show that as much as Rs.3.91 trillion worth of shares are still held in physical form. A total of 3282 companies had some physical shares as of September 2018. READ MORE

2:51 PM

Stock Reaction: HAL rises post Q2 earnings

2:48 PM

NEWS ALERT Hindustan Aeronautics Q2 earnings at Rs 2.89 bn vs Rs 679 mn year ago, according to TV reports

2:46 PM

DCM Shriram bullish on sugar business; chalks out Rs 6.6 bn expansion plan

Diversified group DCM Shriram has contracted around 40,000 tonnes of sugar exports so far and will undertake shipments of entire 92,000 tonnes quota assigned to it by April-May next year, its Chairman Ajay Shriram said.

 

He appreciated the central government's various measures, especially on ethanol side, in the last one year to deal with the problems faced by the millers on account of surplus production and low sales realisation. READ MORE

2:30 PM

S&P BSE Sensex top gainers and losers

2:15 PM

Car sales grow marginally by 0.38%, passenger vehicles up 1.6% in October

 

Domestic passenger vehicle sales rose 1.55 per cent to 2,84,224 units in October as against 2,79,877 units in the same month last year. Car sales grew marginally by 0.38 per cent to 1,85,400 units last month as against 1,84,706 units in October last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM) Friday. Read more

2:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,133.75	-103.93	-0.29
S&P BSE SENSEX 50	11,052.61	-26.21	-0.24
S&P BSE SENSEX Next 50	32,234.82	+157.17	+0.49
S&P BSE 100	10,859.81	-13.77	-0.13
S&P BSE Bharat 22 Index	3,466.39	-0.78	-0.02

1:43 PM

Govt to infuse Rs 30.5 billion as fresh capital in Allahabad Bank

 

Public-sector lender Allahabad Bank on Thursday informed stock exchanges that it had received a communication from the finance ministry stating it was getting a capital infusion to the tune of Rs 30.54 billion. Read more

1:30 PM

India Cements Q2 net plunges 94 pc to Rs 1.43 cr

India Cements Friday reported 93.95 per cent drop in standalone net profit at Rs 1.43 crore during the quarter ended September 2018. The company had reported a net profit of Rs 23.67 crore in the same quarter of the previous fiscal. Total income of the company stood at Rs 1,390.84 crore during second quarter of 2018-19 fiscal. It was Rs 1,274.9 crore in the year-ago period, India Cements said in a BSE filing. Read more

1:21 PM

EARNINGS IMAPCT

1:19 PM

NEWS ALERT Indian Bank Q2: PAT at Rs 1.50 bn vs Rs 4.51 bn YoY

1:15 PM

Is India's GDP growth good, bad, or ugly? Puzzling data baffle economists

 

The world’s fastest-growing economy is also one of the most difficult to decipher. A change in the methodology to calculate gross domestic product is partly why India’s data is puzzling and is prompting economists to find a workaround. India’s new GDP series, introduced in 2015 with back-data available since 2012, relies more heavily on nominal indicators in two key areas relative to the old series, according to Abhishek Gupta, India economist with Bloomberg Economics in Mumbai. Read more

1:00 PM

Top losers in BSE 500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
PC JEWELLER	78.00	-5.45	-6.53	2479527
V-MART RETAIL	2265.25	-119.20	-5.00	3544
OBEROI REALTY	422.70	-17.35	-3.94	10641
NAVKAR CORPORAT.	64.90	-2.20	-3.28	9555
SYMPHONY	971.05	-28.70	-2.87	807

12:45 PM

Quality takes centre stage as investors seek safety in Samvat 2075

 

When there is a flight to safety, it is stocks which are lower down the market cap ladder which get impacted the most. That has been the case over the last year with the BSE SmallCap and MidCap indices down 25-35 per cent from their peaks while the S&P BSE Sensex still remains in the green. There have been multiple reasons for the rise of the small and mid-cap companies in 2016 and 2017 and the slide in the current calendar year. Read more

12:30 PM

Saudi think-tank studying possible effect of Opec break up: WSJ report

 

Saudi Arabia's top government-funded think-tank is studying the possible effects on oil markets of a breakup of OPEC, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The research project doesn't reflect an active debate inside the government over whether to leave the Organization of the Petroleum Exporting Countries in the near term, the Journal reported. Read more

12:16 PM

EARNINGS IMPACT

12:15 PM

NEWS ALERT India Cements Q2: Net profit down 94% at Rs 1.4 cr vs Rs 23.7 cr (y-o-y)

12:12 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,247.94	+10.26	+0.03
S&P BSE SENSEX 50	11,090.88	+12.06	+0.11
S&P BSE SENSEX Next 50	32,276.16	+198.51	+0.62
S&P BSE 100	10,893.72	+20.14	+0.19
S&P BSE Bharat 22 Index	3,479.54	+12.37	+0.36

12:00 PM

IPO pipeline may moderate in Samvat 2075 over weakness in secondary market

 

After back to back blockbuster years, the initial public offering (IPO) market is expected to witness moderation in activity in Samvat 2075. Weakness in the secondary market and political uncertainty are expected to weigh on new issuances in the coming months, say experts.

 

A total of 30 companies raised Rs 510 billion in Samvat 2074 surpassing the previous year’s tally of Rs 489 billion, data sourced from Prime Database shows. Market players say the sharp correction in small- and mid-cap stocks and spike in volatility is forcing companies to hold back their IPO plans. READ MORE

11:51 AM

Stock reaction: NHPC gains over 4% on reports that it may consider share buyback

11:44 AM

NEWS ALERT NHPC to consider share buyback on November 14, according to TV reports

11:29 AM

India October inflation likely hit 12-month low, below RBI target: Poll

 

Indian retail inflation likely slowed to its slowest pace in 12-months in October after food and fuel costs fell, keeping the official consumer prices gauge below the central bank's medium-term target for a third consecutive month, a Reuters poll found. With the battered rupee gaining slightly against the dollar, a recent cut in fuel taxes and easing global crude oil costs, consumer price inflation likely slowed to 3.67 percent in October from 3.77 percent, according to the poll of 35 economists. Read more

11:24 AM

HEAT MAP: S&P BSE Sensex

11:20 AM

Anand Rathi on Heidelberg Cement

Boosted by momentum in construction in the Central region, steady prices and better operating efficiencies, Heidelberg reported a firm performance. We believe its concentrated efforts on consumption parameters, deleveraging exercise and negative working capital would help it do well. We retain our Buy recommendation, with a target of Rs 200 based on 9x FY20e EV/EBITDA

11:19 AM

Centrum Broking on Jagran Prakashan

We maintain BUY on Jagran Prakashan with revised TP of Rs157. Delay in festive season, steep decline in central Government ads coupled with pressure on sectors such as auto & education impacted ad growth. However we remain confident of management reporting low single digit ad growth for FY19E on election benefits, festive season boost in Q3FY19 and buoyancy in economy.   

Further increase in cover price and resultant circulation drop is healthy. Management has been able to reduce the impact of steep increase of newsprint price which is a positive. We believe the reduction is newsprint prices for FY20E would aid margins going ahead. Growth and margins expansion in the radio business with a turnaround of digital business from Q4FY19E would boost profitability

11:18 AM

HDFC Securities on Exide

Exide reported subdued EBIDTA margin in 2Q (at 12.2% vs est 14.2%) hit by currency depreciation, higher freight and marketing expenses. Net revenue grew 15% YoY to Rs 27.20bn led by strong traction in automotive and industrial batteries sales. EBITDA rose 12.4% YoY to Rs 3.32bn.

Reported PAT grew 98% YoY to Rs 2.7bn owing to one time gain of Rs 1.08bn for profit on sale of property. However, APAT remain flat at 1.78 bn. We expect fall in Lead price (20% in past three months to $1950/ton) and moderation in fuel cost will help to boost up earnings in coming quarters