Sensex ends at fresh closing high, up 251 pts, Nifty settles near 10,900

All that happened in the market today

3:41 PM

Nifty Bank ends at record high up 1.40%

3:39 PM

Sectoral Trend

3:35 PM

Sensex Top gainers and losers

3:33 PM

Markets at close

 

Benchmark indices ended at fresh closing highs for a third straight session on Friday, led by financial stocks amid improved investor sentiment after the government decided to cut tax rates on certain products and services.

 

The S&P BSE Sensex ended at 35,511, up 251 points while the broader Nifty50 index settled at 10,894, up 77 points.

3:20 PM

Crude oil prices at $60 conducive to revenue growth: Air India CMD

 

Crude oil prices at around $60 per barrel is the "ideal" level for Air India to sustain its new-found revenue growth, the airline's Chairman and Managing Director (CMD) Pradeep Singh Kharola said.

 

When asked about the surge in crude oil prices and its impact on Air India's revenue growth, Kharola told IANS: "I believe the airline is comfortable with oil prices being in the range of $60-65 per barrel."

 

"Anything beyond this range will obviously erode our bottom line," he said at the company's HQ.

3:09 PM

Satyam scam: SAT refuses to lift Sebi's two-year ban on Price Waterhouse

 

The Securities Appellate Tribunal (SAT) on Friday said that Price Waterhouse could continue to service existing clients whose financial year started on January 1, 2018, but it refused to grant a stay on a two-year audit ban ordered by the market regulator.

 

The markets regulator, Securities and Exchange Board of India (Sebi), had last week barred Price Waterhouse from auditing listed companies in the country for two years, after a probe into the nearly decade-old accounting fraud case at software services company, B Ramalinga Raju-led Satyam Computer, that became India's biggest corporate scandal.

 

It had however allowed Price Waterhouse to continue auditing books for the current fiscal year ending in March. READ MORE

2:55 PM

Sebi allows investment up to 25% in REITs/InvITs to attract investors

 

To make REITs and InvITs more attractive, markets regulator Sebi has allowed strategic investors like registered NBFCs and international multilateral financial institutions to invest up to 25% of the total offer size of such trusts.

 

"The strategic investor(s) shall, either jointly or severally, invest not less than 5% and not more than 25% of the total offer size," Securities and Exchange Board of India said in a circular. Read more
 

2:46 PM

Jubilant FoodWorks hits new high on solid Q3 performance

 

Jubilant FoodWorks hit a new high of Rs 2,053, up 6% on BSE in intra-day deal, after the company reported a strong Same Store Growth (SSG) of 17.8% for Domino’s as against analyst’s expectation of around 8% in December quarter (Q3FY18). The company had recorded a negative growth of 3.3% in a year ago quarter.
 

The company reported more than doubled net profit at Rs 660 million in Q3FY18 from Rs 200 million in the corresponding quarter of previous fiscal.

 

Operating revenues grew 20.7% year on year (YoY) to Rs 7.95 billion over the previous year quarter. READ MORE

2:30 PM

Hackers have walked off with 14% of big digital currencies

 

Digital currencies and the software developed to track them have become attractive targets for cybercriminals while also creating a lucrative new market for computer-security firms.

 

In less than a decade, hackers have stolen $1.2 billion worth of Bitcoin and rival currency Ether, according to Lex Sokolin, global director of fintech strategy at Autonomous Research LLP. Given the currencies’ explosive surge at the end of 2017, the cost in today’s money is much higher.

 

“It looks like crypto hacking is a $200 million annual revenue industry,” Sokolin said. Hackers have compromised more than 14 percent of the Bitcoin and Ether supply, he said. READ MORE

2:16 PM

Cigarette maker ITC's third-quarter profit rises 17%; beats estimates

 

ITC Ltd, India's biggest cigarette maker, posted a 16.8% rise in its third-quarter profit on Friday, helped by a one-time gain.

 

The company, which also makes consumer goods ranging from biscuits to skincare products, said its profit rose to Rs 30.90 billion ($484.53 million) in the quarter ended December 31, from Rs 26.47 billion a year ago. Read more

 

Earnings impact

2:01 PM

Market Check

S&P BSE Sensex	35,378.16		0.33%
Nifty 50	10,830.30		0.12%
S&P BSE 200	4,775.74		0.21%
Nifty 500	9,645.80		-0.01%
S&P BSE Mid-Cap	17,596.99		-0.18%
S&P BSE Small-Cap	19,272.54		-0.07%

1:47 PM

Manappuram Finance to discuss on investment proposals; stock rebounds 7%

 

Manappuram Finance has moved higher to Rs 121, up 4%, bouncing back 7% from its intra-day low on the National Stock Exchange after the company said it called a board meeting in next week to discuss on investment proposals. The stock hit a low of Rs 113 in early morning trade before the announcement.

 

“The board meeting of directors of the company will be meeting on Tuesday, January 23, 2018 at 11.00 am at Mumbai interalia to discuss on investment proposals,” Manappuram Finance said in a regulatory filing. READ MORE

1:33 PM

Adani Ports gain on brokerages upgrade

 

Adani Ports and Special Economic Zone (APSEZ) was up 4% to Rs 430 on Friday, erasing most of its yesterday’s loss on BSE, after the brokerages upgrade the stock post December quarter (Q3FY18) results. On Thursday, the stock ended 4.4% lower at Rs 414 on BSE.

 

APSEZ has posted an 18% year-on-year increase in consolidated net profit for the third quarter of 2017-18 financial year to Rs 9.94 billion while its consolidated income from operations grew 22% for the same period. Consolidated operating EBITDA (earnings before interest, tax, depreciation and amortization) increased by 46% to Rs 19.67 billion in Q3FY18 from Rs 13.44 billion in Q3FY17. The cargo volumes were up 16% during the quarter. Click here for full story

1:15 PM

Recapitalisation bonds for reviving state-owned banks won't have same tenure

 

The Union government is mulling different tenures for its Rs 1.35-trillion recapitalisation bonds for reviving public sector banks.

 

In doing so, the government may follow a different practice than the one adopted in its previous recapitalisation bond exercise in 1993-94 when it had a fixed tenure for all the bonds before they were converted into perpetual bonds.

 

"The recapitalisation bonds may likely have different tenures so that when the redemption of bonds takes place, the government doesn't have to pay the entire amount at one go to the banks," said a senior finance ministry official. READ MORE

1:00 PM

US SEC raises doubts about Bitcoin ETFs amid biggest cryptocurrency slump

 

The US Securities and Exchange Commission (SEC) has questioned the prospects of bitcoin exchange-traded funds saying there are a significant number of investor protection issues about cryptocurrencies and related products that need to be examined.

 

The issues need to be addressed before sponsors begin offering these funds to retail investors, the SEC said in a letter on Thursday to two trade groups.

 

"We have asked sponsors that have registration statements filed for such products to withdraw them," the SEC said. READ MORE