MARKET WRAP: Sensex up 297 pts, banks, auto gain; Infy flat ahead of Q2 nos

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3:50 PM

Sectoral gainers & losers on NSE

3:49 PM

BSE Sensex: Top gainers & losers

3:20 PM

 

Future Group shares rise on reports Amazon may buy stake in Future Retail

 

Future Retail has soared 19% to Rs 518 on back of an over six-fold jump in trading volumes. A combined 2.37 million equity shares changed hands on the BSE and NSE till 02:59 PM. READ MORE

3:00 PM

ICICI Bank gets RBI clearance to appoint Sandeep Bakhshi as its MD and CEO

 

Private sector lender ICICI Bank Tuesday said the RBI has approved Sandeep Bakshi's appointment as Managing Director and CEO of the bank for three years.

 

After resignation of Chanda Kochhar, who was facing inquiry, earlier this month, the bank's board had elevated Chief Operating Officer (COO) Bakshi as the new managing director and CEO for five years until October 3, 2023, subject to regulatory and other approvals. READ MORE

 

Impact

 

2:51 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,105.47	+240.37	+0.69
S&P BSE SENSEX 50	11,064.23	+74.56	+0.68
S&P BSE SENSEX Next 50	31,324.79	+354.94	+1.15
S&P BSE 100	10,822.73	+80.30	+0.75
S&P BSE Bharat 22 Index	3,368.16	+30.74	+0.92

2:45 PM

How investors view Emerging Markets

 

I had the opportunity to spend last week in the US, meeting up with a bunch of global investors. A fascinating week amidst the turmoil roiling global markets. Some of the takeaways for me personally were as follows: 1. There is tremendous pain vis-a-vis Emerging Market (EM) assets.

 

Most of the smartest and most-sophisticated investors have been reducing weights in US equities and increasing EM and non-US positions over the last few years. This has not worked. Investors have taken it on the chin this year with a dramatic divergence opening up between US and EM equities. READ MORE

2:30 PM

CESC: Analysts see benefits even in part demerger, stock price recovers

 

The long-awaited value-unlocking in CESC is finally taking place and bringing joy to investors as the stock price starts recovering. Since the multiple businesses under a single umbrella resulted in holding company discount, CESC’s decision on separate listing of all businesses should result in value unlocking for investors. Before the company’s announcement of restructuring last year, the stock had seen highs in January’18 but it thereafter trended lower. Read More

2:15 PM

Leading foreign bank to drag Kwality to NCLT over Rs 12 billion default

KKR-backed dairy major Kwality Ltd set to be taken to National Company Law Tribunal (NCLT) over Rs 12 billion loan default. According to a report published in Hindu Businessline, the Kolkata-headquartered company has been taken to the tribunal by a leading foreign bank that will be joined by others soon after the case is filed, on October 16. According to sources, Kwality has debt of about 20 billion, of which 80 per cent has gone bad following poor business decisions, reported The Hindu Businessline. Read More

2:00 PM

Earnings impact: Federal Bank stock up 6% post Q2 earnings

 

Federal Bank's second quarter (July-September) profit grew 0.9 per cent year-on-year to Rs 2.66 billion, impacted by sharp rise in bad loans provision. Net interest income during the quarter increased 13.7 per cent year-on-year to Rs 10.22 billion with loan growth at 25.2 per cent YoY (9.8 per cent QoQ), the bank said.

1:45 PM

HEG hits new high; stock zooms 56% in 6 trading sessions

Shares of HEG hit a new high of Rs 4,950, up 15%, extending its gains for the past one week of over 30% on the BSE, after Bank of America Merrill Lynch (BofAML) initiated coverage of the stock with a 'Buy' rating and target price of Rs 6,700. The stock surpassed its previous high of Rs 4,560 recorded on August 2, 2018. It zoomed 55% in past six trading days from Rs 3,182 on October 8, as compared to a 2% rise in the S&P BSE Sensex. Read More

1:31 PM

Infosys extends gain ahead of September-quarter results

Shares of Infosys was trading 1% higher at Rs 707 at 01:23 pm, extending its Monday’s 3% gain on the BSE, ahead of its results for the second quarter of the financial year 2018-19 (Q2FY19) today. The information technology major will announce September quarter results after market hours. Since July 13, 2018, post Q1FY19 results, Infosys has outperformed the market by gaining 8.5%, as compared 5% declined in the S&P BSE Sensex. The stock hit an all-time high of Rs 755 on October 1, 2018 in intra-day trade. Read More

1:15 PM

S&P BSE Sensex top gainers and losers

1:01 PM

Delta Corp gains 8% post September quarter results

 

Shares of Delta Corp rallied 8% to Rs 245 on the BSE in intra-day trade on back of heavy volumes after the company reported 11% year on year (YoY) growth in its consolidated net profit at Rs 481 million in September quarter (Q2FY19). It had a profit of Rs 433 million in the same quarter a year ago. The company’s revenue grew 39% at Rs 2,014 million on YoY basis. EBITDA margin shrank 720bp YoY to 38% YoY on account of contraction in the online gaming margin. Read More

12:50 PM

Banks gain ground. South Indian Bank up 13%

COMPANY	LATEST()	CHG()	CHG(%)	VOLUME
SOUTH IND.BANK	14.22	1.62	12.86	16384186
ICICI BANK	320.45	7.25	2.31	1409738
ST BK OF INDIA	267.55	4.20	1.59	1110094
YES BANK	247.25	1.35	0.55	800628
IDBI BANK	59.50	0.15	0.25	691408

12:49 PM

India attracted $22 bn of FDI flows in first half of 2018, says UN report

 

India attracted $22 billion of FDI flows in the first half of 2018, according to a UN report which states that the global foreign direct investment dropped by 41 per cent in the same period due to tax reforms carried out by the Trump administration.

 

The UN Conference on Trade and Development (UNCTAD) said on Monday in its 'Investment Trends Monitor' report that in South Asia, India attracted $22 billion of FDI (foreign direct investment) flows, contributing to the subregion's 13 per cent rise in FDI in the first half of the year. READ MORE