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LIVE BLOG

11 Jan, 2019 | 06.08PM IST

Infosys Q3 results out: Net profit slumps posts 30% to Rs 3,610 crore

Watch this space as we bring you LIVE updates of the day's proceedings from Dalal Street.

!1 New UpdateClick here for latest updates
05:30 PM

Market is awaiting fresh trigger for the next directional move and it could be the prevailing earnings season. Participants will react to the Infosys results in early trades on Monday. Mostly counters are witnessing volatile swings on expected lines and thus require extra care in trade selection and position management. We suggest not going overboard and maintaining positions on both sides

- Jayant Manglik, President, Religare Broking

04:34 PM

Infosys Q3 profit slumps 30% YoY to Rs 3,610 crore, firm announces share buyback of Rs 8,260 crore

Infosys, India’s second largest IT firm, on Friday reported 29.62 per cent drop in consolidated net profit at Rs 3,610 crore for December quarter. The IT firm had posted Rs 5,129 crore profit in the corresponding quarter last year, the company said in a BSE filing.
Infosys Q3 profit slumps 30% YoY to Rs 3,610 crore, firm announces share buyback of Rs 8,260 crore
03:33 PM

CLOSING BELL

Sensex declines 97 pts, Nifty ends below 10,800; Jet rallies 6%, IndiGo tanks 4%
CLOSING BELL
03:20 PM

Agrochem stocks set for rally, may give up to 50% in a year

Stocks of agrochemical makers are poised for a robust recovery after three years, and companies such as Insecticides India, Excel Crop Care, Sharda Cropchem, Dhanuka Agritech, Rallis India and Monsanto India could give returns as high as 50 per cent in the next one year, according to analysts.
02:40 PM

Tata Motors cracks 3% on JLR sales woes

Shares of Tata Motors were on track to snap their five-day winning streak after they cracked 3 per cent on BSE in Friday's session. Automaker suffered losses after the company reported a slump in the group-owned JLR global sales numbers.
Tata Motors cracks 3% on JLR sales woes
02:35 PM

European shares surf on post-Christmas recovery rally

European shares opened higher on Friday, surfing on a global recovery rally which has lifted stocks from the lows hit just after Christmas thanks to optimism on Sino-U.S. trade talks and a more dovish tone from the Federal Reserve.
02:06 PM

Rupee misses Fed-inspired rally to again become worst Asian currency

The turn of fortune for India’s rupee couldn’t be more rapid. It has gone from being Asia’s best performer to the worst in two weeks.

A rebound in prices of oil, the nation’s top import, and concerns about an expensive bailout for farmers before general elections to be held by May has caused the rupee to miss out on a revival in emerging currencies. Funds are instead piling into the Indonesian rupiah and Chinese yuan on optimism over trade talks and signs of a Federal Reserve rate hike pause.
01:48 PM

3 early birds may have upset D-Street, but analysts say banks may still surprise

The early birds from the banking sector may not have delivered any positive surprise, but analysts still expect dom estic lenders to report some good earnings for December quarter.
01:17 PM

Airtel says released Rs 453cr, Aircel says got only Rs 341cr.

To release or not to release, that is the question! Bharti Airtel has begun the process of paying Aircel, bringing relief to the bankrupt telco that needs money to maintain assets and pay 3,000 employees. "Airtel remains in contempt of court as it has not paid the entire amount and is setting off .Rs112 crore illegally,” said an Aircel official
Airtel says released Rs 453cr, Aircel says got only Rs 341cr.
12:53 PM

Gold futures gain on firm global cues

Gold prices rose by Rs 120 to Rs 32,000 per 10 gram in futures trade Friday as speculators widened their bets, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 120, or 0.38 per cent, to Rs 32,000 per 10 gram, in a business turnover of 13,971 lots, PTI reported.
12:48 PM

Nikkei settles 1% higher

Nikkei 225 index gained 0.97 percent or 195.90 points to end at 20,359.70, while the broader Topix index was up 0.51 per cent or 7.72 points at 1,529.73.
12:39 PM

TCS appoints independent director

India's largest IT services company Tata Consultancy Services Friday said it has appointed Daniel Hughes Callahan as an Additional and Independent Director. Callahan has been appointed as an Additional and Independent Director for a period of five years with effect from January 10, 2019, TCS said in a statement.
12:19 PM

Vedanta cuts crude supply to IOC, restores after govt intervention

Company had reduced supplies for 3 months until October even as the two cos negotiated oil rates for the year.
Vedanta cuts crude supply to IOC, restores after govt intervention
12:18 PM

US weekly jobless claims showcase economy's strength

The number of Americans filing applications for jobless benefits fell more than expected last week, pointing to sustained labour market strength that could further assuage concerns about the economy's health.
12:15 PM

Praj Inds surges 7% amid higher volumes

Shares of Praj Industries resumed upmove. The scrip was trading nearly 7 per cent higher in trade. Trading volume on the counter were nine times the 20-day average for the scrip.
12:14 PM

TCS stock tops Rs 1,000 cr in traded value

Shares of TCS witnessed highest traded value since November 28. Total turnover on the counter topped Rs 1,000 crore in trade.
11:58 AM

Mentha oil up with tepid gains

  • Mentha oil traded with a tepid gain in the domestic futures market on Friday amid slightly increased demand at the spot market by consuming industries.
  • Around 10:45 am, the MCX Mentha oil was trading at Rs 1,610.70 per kg, up by Rs 4.80, or 0.30 per cent.
  • Speculators ramping up their bets, along with limited supplies, made mentha oil prices climb.
11:46 AM

Gold Rate Today: Gold, silver trade higher in morning trade

  • Gold had crossed the Rs 33,000-mark at the spot market on Thursday, led by increased buying by local jewellers at the spot market to meet marriage season demand.
  • The MCX Gold was trading at Rs 31,982 per 10 grams, up by Rs 102, while MCX Silver was trading Rs 190 higher at Rs 39,475 a kilo around 10:15 am.
11:37 AM

MACD: PSU banks BoI, Andhra Bank, OBC and Canara Bank see bearish crossovers

MACD: PSU banks BoI, Andhra Bank, OBC and Canara Bank see bearish crossovers
11:35 AM

Allahabad Bank, Bharat Financial drop below 50-day SMAs

Allahabad Bank, Bharat Financial drop below 50-day SMAs
11:29 AM

Commodity outlook: Crude oil is headed for weekly gain

Crude oil cooled off slightly in global markets on Friday, weighed down by weak global growth outlook. However, the commodity is set to mark a weekly gain, backed by lower supply on output cuts.
10:32 AM

Infosys stock stays flat ahead of Q3 data

Shares of Infosys were little changed on Friday ahead of its December quarterly earnings. Investors are sitting tight on the stock as brokerages do not expect any upbeat show from Infosys in view of its focus on growth against profitability.
10:17 AM

TCS a 'must-have' stock but at a price, say analysts post Q3 nos

TCS' strong deal wins and sustained digital growth impressed analysts in a seasonally weak quarter, but sequential weakening of margins due to higher subcontracting cost remains a worry, say analysts.
10:01 AM

Jet Airways jumps 3% as talks with Tata Group back on the table

Shares of Jet Airways (India) jumped 3 per cent in early trade on Friday after media reports suggested that the beleaguered firm is planning to approach Tata Group for stake-sale talks. As per a Bloomberg report, Jet's talks with the foreign partner Etihad Airways PJSC stalled over the latter’s demand that Goyal steps aside from his management role. With Jet Airways set to run out of cash in about a month, the carrier is now looking to restart talks with India’s biggest conglomerate.
10:00 AM

Eveready soars 18% as promoter looks to sell stake

Shares of Eveready Industries India surged 18 per cent in morning trade on Friday after media reports that Williamson Magor, which owns 45 per cent, is selling Eveready Industries. The BM Khaitan-led Williamson Magor is selling its flagship Eveready Industries, a leader in dry cell batteries and flashlights, triggering an auction process for one of the country’s oldest consumer brands, TOI reported.
09:42 AM

Rupee holds steady, up 4 paise against dollar

The rupee was marginally up against the dollar early Friday on selling of the US currency by exporters amid easing oil prices. It was up 4 paise at 70.37.
09:18 AM

OPENING BELL: Sensex gains 50 pts, Nifty flat; HFCL, Vakrangee jump 5% each

Sensex gains 50 pts, Nifty flat; HFCL, Vakrangee jump 5% each; TCS drops 1%.
09:01 AM

PRE-OPEN SESSION: Sensex jumps 200 pts, Nifty50 above 10,850

Sensex jumps 200 pts, Nifty50 above 10,850; rupee trades at 70.42 against US dollar.
08:40 AM

Singapore trading sets stage for positive start

Nifty futures on the Singapore Exchange were trading 31.50 points, or 0.29 per cent, higher at 10,892.50, indicating a positive start for the Nifty50.
08:40 AM

Nifty forms Bearish Belt Hold pattern

The Nifty50 snapped a four-day losing streak on Thursday. The NSE barometer formed a 'Bearish Belt Hold' pattern on the daily chart, as its opening level proved its intraday high. The index may trade sideways for some time, and only a sustainable move above 10,860 level may show initial sign of strength.
08:40 AM

Asian stocks at one-month highs

Asian stocks inched higher to one-month highs on Friday, after Federal Reserve Chairman Jerome Powell reiterated the US central bank can be patient on raising interest rates further, Reuters reported. MSCI's broadest index of Asia-Pacific shares outside Japan index edged 0.2 per cent higher, while Japan's benchmark Nikkei index advanced 1.1 per cent in early trade.
08:40 AM

Fed stresses patience, again

Federal Reserve Chairman Jerome Powell on Thursday stressed again that the US central bank can be patient in approving any further rate increases as officials gauge whether the U.S. economy will slow this year, Reuters reported.
08:40 AM

Wall Street stocks rally for fifth day

Wall Street extended its rally into a fifth straight day on Thursday in a session of whipsaw trading as investors responded to mixed comments by Federal Reserve Chairman Jerome Powell, while a warning from Macy’s pummeled retail stocks, Reuters reported. The Dow Jones Industrial Average index climbed 0.51 per cent to end at 24,001.92 points, while the S&P500 index gained 0.45 per cent to 2,596.63.
08:40 AM

Infosys Q3 numbers today

India’s second largest IT player in terms of revenue, may not post spectacular numbers for December quarter on Friday, but all eyes will be on it for any revision in revenue growth guidance, a possible share buyback announcement and a likely upward estimate in margins in the wake of a fall in the rupee.
08:39 AM

TCS reports in line; revenue, margin contracts

Tata Consultancy Services reported higher revenues for the third quarter of the fiscal year even as the increased cost of hiring employees and sub-contractors in its main market — the United States — hurt margins at India’s largest software services exporter, signalling similar concerns for the industry at large.
08:39 AM

Sud exits race for YES Bank’s top job

Rajesh Sud, shortlisted by the Yes Bank board to succeed Rana Kapoor as the lender’s next chief executive, has pulled out of the race for the top job, leaving insider Rajat Monga as the sole recommendation for the regulator to approve, said two people familiar with the matter.
08:39 AM

SBI picks 5 banks for QIP issue

State Bank of India (SBI) has appointed Kotak Mahindra Capital, HSBC India, CLSA, Bank of America-Merrill Lynch and SBI Caps to manage its qualified institutional placement (QIP) issue, said people with knowledge of the matter.
08:39 AM

Buy midcap theme post correction: CLSA

Valuations of mid-cap stocks have moderated in the recent months. Midcaps are now at a 2% discount to the Nifty compared to an all-time high of 47% in December 2017, according to CLSA. However, midcaps are likely to see bouts of volatility in the current year due to macro uncertainties and, the spread over Nifty earnings growth is likely to narrow in FY20.
08:38 AM

DIIs buy Rs 345 crore worth of equities

Foreign portfolio investors (FPIs) sold Rs 345 crore worth of domestic stocks on Thursday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 11 crore, data suggested.
08:37 AM

Sensex on Thursday

The 30-share pack slipped 106 points, 0.29 per cent, to 36,107, with 17 constituents in the red and 13 in the green. Tata Motors led the Sensex gainers pack, rising 1.34 per cent. It was followed by NTPC, M&M, Bajaj Auto, Infosys and L&T.
08:37 AM

GOOD MORNING, DEAR READER! Here's something to kickstart your trading day

GOOD MORNING, DEAR READER! Here's something to kickstart your trading day
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