Indices trade near flat line

Key benchmark indices traded near flat line in morning trade. The Nifty hovered near the crucial 11,900 level. At 10:21 IST, the barometer index, the S&P BSE Sensex, was down 20.73 points or 0.05% at 40,302.88. The Nifty 50 index was down 9.2 points or 0.08% at 11,898.95.

The broader market outperformed the benchmark index. The S&P BSE Mid-Cap index was up 0.52%. The S&P BSE Small-Cap index was up 0.32%.

The market breadth was positive. On the BSE, 1010 shares rose and 776 shares fell. A total of 100 shares were unchanged. In Nifty 50 index, 29 stocks advanced while 21 stocks declined.

Investors will keep an eye on India's industrial production data for September 2019 that will be announced on today, 11 November 2019. Manufacturing production data for September 2019 will also be announced today.

Buzzing Index:

The Nifty Bank index was trading 0.48% higher at 30,895.95, extending its gaining streak for fourth straight session.

Among private sector banks, RBL Bank (up 3.2%), Federal Bank (up 0.91%), AU Small Finance Bank (up 0.62%), IndusInd Bank (up 0.51%), Axis Bank (up 0.45%), ICICI Bank (up 0.3%) and HDFC Bank (up 0.18%) gained.

Among PSU banks, Bank of Baroda (up 3.68%), Bank of India (up 1.05%), Union Bank of India (up 1.01%), Punjab National Bank (up 0.41%), Canara Bank (up 0.32%) and State Bank of India (up 0.24%) advanced.

Stocks in Spotlight:

Among Nifty companies, Britannia Industries (up 0.45%), Adani Ports and SEZ (down 0.18%), Coal India (up 0.02%) and Hindalco Industries (down 1.1%) will announce their Q2 2019 earnings today.

The Phoenix Mills (down 0.58%), NMDC (up 1.06%), NHPC (up 0.64%), Jindal Stainless (up 1.42%), General Insurance Corporation of India (up 2.12%), Motherson Sumi (up 1.43%), Alkem Laboratories (up 0.5%), Mahanagar Gas (up 0.27%), Aban Offshore (down 4.23%), India Cements (down 0.12%), KEI Industries (up 0.53%), Nesco (up 0.43%), Sheela Foam (up 2.61%) and Tourism Finance Corporation of India (up 1.68%) are some of the companies that will announce their Q2 September 2019 result today.

Maruti Suzuki India was trading 0.56% lower at Rs 7,160.35. Maruti Suzuki India reported a fall in total automobile production in October 2019 over October 2018. Maruti Suzuki India's total automobile production fell 20.67% to 1.19 lakh units in October 2019 from 1.50 lakh units in October 2018. Total passenger vehicles produced in October 2019 stood at 1.17 lakh units, down by 20.95% from 1.48 lakh units in October 2018. The production of light commercial vehicles fell 10.33% to 1,954 units in October 2019 as against 2,179 units in October 2018.

TTK Presitge was trading 2.19% higher at Rs 6217. The houseware products maker announced its Q2 2019 earning after market hours on Friday. On consolidated basis, company's net profit surged 50.2% to Rs 80.34 crore on a 3.9% rise in net sales to Rs 606.30 crore in Q2 September 2019 over Q2 September 2018. In a separate announcement, the company announced the expansion of its two manufacturing facilities. The Company completed its expansion of facilities at Kinathukadavu, Coimbatore and Karjan, Gujarat. The facilities primarily manufacture stainless steel pressure cookers and kitchenware products.

Triveni Engineering were trading 1.98% higher at Rs 69.5. The sugar maker announced its Q2 earnings after market hours on Friday, 8 November 2019. On consolidated basis, the company's net profit rocketed 265.5% to Rs 118.30 crore on a 37.8% rise in net sales to Rs 947.96 crore in Q2 September 2019 over Q2 September 2018. The company reported a 187% jump in consolidated EBITDA. Company's consolidated EBITDA stood at Rs 193.3 crore in Q2 September 2019 as against Rs 67.2 crore in Q2 September 2018. The EBITDA margin improved to 20% in Q2 2019 as against 10% in Q2 2018. The company also reported that the performance of the Engineering business and Gears & Water segment improved than the corresponding previous quarter.

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