Traders' Diary: Nifty may trade in 9,300-9,800 range
BSE barometer Sensex declined for the time in May since 2012.
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Be careful in dealing with material info disclosure to investors: Sebi warns TCS
Sebi has warned Tata Consultancy Services to be careful in dealing with disclosure of material information to investors after the watchdog found that the IT major did not prominently display the extent of damages related to a case in the US. The regulator has also asked the company to ensure that disclosures provide adequate, accurate, explicit and timely information to the investors.
Voltas Q4 results: Net profit up 12.5% at Rs 159.5 crore
Voltas, a Tata Group company and leading air-conditioner manufacturer, on Friday reported a 12.52 per cent increase in its consolidated net profit at Rs 159.50 crore in the March 2020 quarter. Its consolidated net profit was Rs 141.74 crore in the January-March quarter of the last fiscal, Voltas said in a regulatory filing.
Sebi slaps Rs 20 lakh fine on DHFL for violating market norms
Markets regulator Sebi on Friday levied a fine of Rs 20 lakh on Dewan Housing Finance Corporation Ltd (DHFL) for not complying with market norms while issuing non-convertible debentures (NCDs). The markets watchdog had received a reference from Catalyst Trusteeship Ltd, a Sebi-registered debenture trustee, pertaining to NCDs issued by DHFL.
RIL-Rights Entitlement trade ends 41% higher than first trade
The de-materialised trading of Reliance Industries Ltd-Rights Entitlement (RIL-RE) on Friday ended with last trade happening at Rs 223, up 41 per cent over the first trade, according to stock exchange data. RIL-REs were first traded on May 20 at a price of Rs 158.
Sebi imposes Rs 28 lakh fine on 14 individuals for fraudulent share trading
Markets regulator Sebi has imposed a penalty of Rs 28 lakh on 14 individuals for indulging in fraudulent trading in the shares of Gallantt Ispat Ltd (GIL). Sebi has levied Rs 28 lakh fine paid jointly or severally by 14 individuals -- Motilal Ahuja, Tanu Sudan, Divesh Singh, Ashok Kumar, Sunaina, Ravi Dewan, Deepak, Balwant Kaur, Hardeep Singh, Rohit, Deepak Kumar, Mohit Kumar, Monika, and Akash.
Bulk deals: BlackRock Advisors sells Karnataka Bank shares
Here’s who bought and sold what in some of the key bulk deals of the day. Non-banking finance company Mahindra & Mahindra witnessed a couple of bulk deals during the day. Wishbone Fund, State Street Institutional International, Integrated Core Strategies Asia PTE and BlackRock Advisors LLC bought 82.50 lakh, 8.39 lakh, 41.44 lakh and 34.06 lakh shares at Rs 139.62, Rs 139.72, Rs 139.73 and Rs 139.80, respectively, from the open market. However, BlackRock Advisors LLC also sold 1.07 crore shares of the company at Rs 139.74. State Street Institutional International Equity Fund also sold 33.90 shares at Rs 139.68 per share.
Muthoot Capital Q4 results: Net profit falls 40% to Rs 14 crore on auto sector woes
Muthoot Capital Services, a part of the diversified Muthoot Pappachan Group, has reported 40 per cent decline in net profit at Rs 13.6 crore for March quarter due to the problems plaguing the auto sector. It logged a profit of Rs 22.7 crore in January-March, 2018-19, according to a company statement.
Global regulators' body calls for fair disclosure by listed firms on Covid-19 impact
Global body of capital market regulators IOSCO on Friday called for fair disclosure by all listed companies about the impact of COVID-19 on their operating performance, financial position and future prospects to help investors take informed decisions.
Sagar Cements Q4 results: Profit down 94% to Rs 1.18 crore
Sagar Cements on Friday reported 94 per cent decline in consolidated net profit at Rs 1.18 crore for the fourth quarter ended March 31, 2020 due to COVID-19 related disturbances in the market. The Hyderabad-based company had posted a net profit of Rs 18.75 crore in January-March, 2018-19, Sagar Cements said in a BSE filing.
Jubilant Life Sciences Q4 results: Posts Rs 260.49 crore profit
Drug firm Jubilant Life Sciences on Friday reported a consolidated net profit of Rs 260.49 crore for the quarter ended on March 31, 2020, driven by robust sales in pharmaceuticals segment. The company had posted a net loss of Rs 100.65 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a filing to BSE.
ESAF Small Finance Bank Q4 results: Net profit zooms two-folds to Rs 190 crore
Kochi-based ESAF Small Finance Bank, which has received market regulators' approval to float initial public offer, said that its net profit for FY20 more than doubled at Rs 190 crore as compared with Rs 90 crore in the preceding fiscal. The bank's advances grew 37 per cent to Rs 6,818 crore with deposit rising 63 per cent to Rs 7,028 crore.
Nifty Bank index on a roll
Banking names were in huge demand this week. Nifty Bank Index rallied for all days, jumping nearly 12 per cent. Federal Bank was the biggest gainer in the pack, up 20 per cent, while none of the index constituents lost value. On Friday, the index added 0.66 per cent led by over 9 per cent gains in IDFC First Bank.
Dow Jones opens lower on jitters over Trump's China response
The S&P 500 and Dow Jones indexes opened lower on Friday as investors braced for a US response to China's national security law on Hong Kong, threatening to take the shine off another month of strong gains for the stock market. The Dow Jones Industrial Average fell 76.49 points, or 0.30 per cent, at the open to 25,324.15.
Symphony Q4 results: Post net profit at Rs 40 crore
Air cooler maker Symphony Ltd on Friday reported a consolidated net profit of Rs 40 crore for the fourth quarter ended March 2020. The company had reported a net profit of Rs 3 crore in the January-March quarter a year ago, Symphony said in a BSE filing.
Sebi fines 2 persons in SpiceJet insider trading case
Markets regulator Sebi on Friday imposed a penalty totalling Rs 35 lakh on two persons for trading in shares of SpiceJet on the basis of unpublished price-sensitive information related to financial results. In an order, the Securities and Exchange Board of India (Sebi) has levied a fine of Rs 23 lakh on Shreejesh Harindranath and Rs 12 lakh on his brother Sandeep A C.
Bajaj Hindusthan Sugar seeks shareholders nod to pledge shares of group's power company
Bajaj Hindusthan Sugar Ltd on Friday said it will seek shareholders' approval to extend pledge over its shares held in Lalitpur Power Generation Company Ltd (LPGCL), which proposes to secure Rs 270 crore working capital loan. The board, in its meeting held on Friday, considered seeking necessary approval of shareholders by way of postal ballot, a regulatory filing said.
KEC International Q4 results: Net profit down 3% to Rs 193 crore
KEC International on Friday reported about 3 per cent decline in consolidated net profit at Rs 192.88 crore for the quarter ended March 31, 2020. The global engineering, procurement and construction (EPC) major had clocked a profit of Rs 198.76 crore in January-March 2018-19, it said in a filing to BSE.
Forex reserves soar to record high of $490.04 billion
The country's foreign exchange reserves swelled by $3.005 billion to a lifetime high of $490.044 billion in the week to May 22, mainly on account of a rise in foreign currency assets, RBI data showed on Friday. In the previous week, the reserves had increased by $1.726 billion to $487.04 billion.
Madras High Court issues notices to Franklin Templeton MF, Sebi
Notices have been issued to crisis-hit Franklin Templeton Mutual Fund and Sebi by the Madras High Court after a petition was filed by an investors group to safeguard nearly Rs 28,000 crore of investors' money stuck in six schemes shut down by the fund house, according to a statement.
For the coming week, Nifty may trade in the 9,300-9,800 range with a positive bias, said Rajesh Palviya of Axis Securities. Weekly strength indicator RSI and momentum oscillator Stochastic have both turned positive and are above their respective reference lines indicating a positive bias, he said.
Vodafone Idea flip-flops
In a dramatic day for Vodafone Idea, the stock rallied nearly 35 per cent after reports that Google was eyeing a 5 per cent stake in the debt-ridden telco. However, the stock pared much of the gains, and closed just 12.71 per cent higher at Rs 6.56 after the company clarified that “there was no proposal as reported by the media that is being considered at the board.”
In an interaction with ETNow, he said value and growth investing has become a very lazy categorisation of investing. “The former style lost out to the latter over the last decade. Stocks with low price-to-earnings (P/E) ratios and high dividend yields have been hurt the most,” he said.
Rupee to trade in the 74.80 to 76.60 band for the next few weeks: Religare Broking
"Although the rupee may find some ground temporarily due to dollar inflows and a rebound in domestic equities, where the 76.60 mark is providing a cushion, it will be difficult for the rupee to climb above the 74.80 mark. The overarching trend for the rupee looks weak. There could be several sanctions put forth by the U.S. on China, which will sour risk appetite further, given the long-standing history of trade war between the two sides, We expect the rupee to trade in the 74.80 to 76.60 band for the next few weeks," said Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking.
Valuations are attractive on a medium term basis: Sanjeev Zarbade, VP PCG Research, Kotak Securities
The current week was one of the best for global markets as most major global indices rallied during the week.
The Sensex which has been underperforming the MSCI emerging markets also delivered a strong rally with gains of 5.3% for the week.
Most state governments have further relaxed lockdown norms in the current phase as well as allowing domestic air-travel to resume.
Hero Motocorp, Marut Suzuki and HDFC Bank were among the top gainers while Bharti Airtel, Bajaj Finance and Power Grid lost the most in the BSE-30 Index.
FPIs bought equities worth US$209 mn over the past five trading sessions while DIIs bought US$1.02 bn worth of equities in the same period.
Tensions between India and China and China and the US remains a concern for the markets.
Any acceleration in Covid infections could further slowdown lifting of lockdown and delay any economic recovery.
Notwith standing, the near-term uncertainty, valuations are attractive on a medium term basis.
Sensex declines in May for the first time since 2012
CLOSING BELL: Sensex takes winning run to 3rd day, rises 224 points; Nifty tops 9,550; IFCI rallies 15%, Symphony 10%
Financials and FMCG stocks lead rally
20 of 30 Sensex stocks end the day in the green
Index contributors: HDFC, ITC, HUL, L&T, Nestle
Top Index gainers: ONGC (5.26%), Bajaj Auto (5.01%), Sun Pharma (3.53%)
Top Index losers: Infy (2.25), Axis Bank (1.96%), Bharti Airtel (1.83%)
All indices except IT, telecom and consumer durables end in the green
S&P BSE REALTY biggest sectoral gainer, up 4.50%
S&P BSE Information Technology biggest sectoral loser, down 0.97%
Volume toppers: Airtel, HUL, Axis Bank, HDFC Bank, SBI
Price as on 29 May, 2020 03:25 PM, Click on company names for their live prices.
Sensex breaks out of tight trading range towards fag-end of trading session
S&P BSE OIL & GAS up over 3%; IOC surges 7%, ONGC 5%. This is how the index stocks are performing.
Pharma stocks mixed; Dr Reddy's gains 4%, Suven Life dips 4%. Here are the top gainers are losers
Price as on 29 May, 2020 02:31 PM, Click on company names for their live prices.
Economy needs support from PSBs: Union Bank chief
The country's economy, which has been hit by the COVID-19 outbreak, needs support from the public sector banks (PSBs) to boost credit growth, an official said on Friday. The number of PSBs has come down after amalgamation of several lenders, and their ability to lend has increased manifold, Union Bank of India MD and CEO Rajkiran Rai G said.
Here is a snapshot of Bank Nifty
This is how the FMCG stocks are faring; Future Consumer gains 5%, Colgate 3%
Price as on 29 May, 2020 01:41 PM, Click on company names for their live prices.
China stocks end higher as stimulus hopes offset Sino-US worries
China stocks edged up on Friday to end the week higher, as expectations that Beijing would take necessary measures to underpin the world's second-largest economy overshadowed concerns over escalating Sino-U.S. tensions. At the close, the Shanghai Composite index was up 0.22% at 2,852.35, while the blue-chip CSI300 index was up 0.27%.
Madras High Court issues notices to Franklin Templeton MF, Sebi: Investors Group
Notices have been issued to crisis-hit Franklin Templeton Mutual Fund and Sebi by the Madras High Court after a petition was filed by an investors group to safeguard nearly Rs 28,000 crore of investors' money stuck in six schemes shut down by the fund house, according to a statement. The statement by investors group also said it is separately launching an online petition to bring together all affected investors and the same would be forwarded to the Prime Minister's Office as well as the US parent of the fund house and the US markets regulator SEC.
Here are the top gainers in the tourism & hospitality industry; EIH, Lemon Tree Hotels gain 4% each
Price as on 29 May, 2020 01:14 PM, Click on company names for their live prices.
Data showed three of every five BSE500 stocks have underperformed the index since March 24, with 21 stocks falling 20-50 per cent during this period. While most stocks look cheap, analysts say the risks remain high and investors would do well to avoid these counters for now.
SpiceXpress receives DGCA approval for drone trials
Budget carrier SpiceJet on Friday said its freighter arm SpiceXpress has received approval for conducting drone trials from aviation regulator Directorate General of Civil Aviation (DGCA). Post trials and approvals, the airline plans to use drones in delivery of essential supplies to remote areas, the company said in a release. (Agency: PTI)
Forex Center: This is how the major currencies are trading against each other
All petrol and gas stocks trading in the green; HPCL gains 6%, Adani Gas 4%
Price as on 29 May, 2020 12:22 PM, Click on company names for their live prices.
Sensex down over 100 points, Nifty below 9,500. This is how the 30-pack index performed in the morning session
Invest in equities, double your SIPs: Prashant Jain, HDFC AMC
Here are the top gainers and losers in the power sector
Price as on 29 May, 2020 11:50 AM, Click on company names for their live prices.
The most important aspect impacting rural every year is how the crop goes and there you have a very-very good winter harvest. Honestly speaking, the rural economy will be a standout and some of the stocks are reflecting that. The second part is how far you can take this trend. As this section of the market which is now becoming fairly valued to expensive and even discretionary stocks like Hero or rural-focussed discretionary stocks get into the category, it will become a difficult push purely owing to valuation even though the fundamentals are less impacted.
Drug firm Lupin has reported a 34.55 per cent rise in its consolidated net profit to Rs 389.63 crore for the quarter ended March 2020 mainly on account of robust sales in the domestic market and lower tax expenses. The company had posted a net profit of Rs 289.56 crore for the corresponding period of the previous fiscal, Lupin said in a late night filing on Thursday.
Bank wise exposures to Voda Idea (Source: KR Choksey Investment Managers)
SBI: Rs 11,000 croreore, 0.5% of bank AUM
PNB: Rs 3,000 croreore, 0.7% of bank AUM
Yes Bank: Rs 4,000 crore, 2.33% of bank AUM
IIB: Rs 3,500 crore, 1.69% of bank AUM
IDFC First Bank: Rs 3,240 crore, 3.05% of bank AUM
ICICI Bank: Rs 1,700 crore, 0.27% of bank AUM
Axis Bank: Rs 1,300 crore, 0.2% of bank AUM
HDFC Bank: Rs 1,000 crore, 0.11 of bank AUM
Positive impact on banking stocks if investors like Goggle picks up stake in Voda Idea: Deven Choksey
S&P BSE REALTY biggest sectoral gainer, up 2%. This is how the index stocks are performing
Sensex wipes off all losses, moves into the green
Vodafone Idea, IDFC First Bank, BHEL among top 10 NSE gainers in early trade
Price as on 29 May, 2020 10:22 AM, Click on company names for their live prices.
Wipro appoints Thierry Delaporte as CEO, Managing Director
Price as on 29 May, 2020 10:12 AM, Click on company names for their live prices.
Amidst reports of Google picking up 5% stake in Vodafone Idea, it appears that the Indian telecom and online space is set to witness a spur of activity, which is always welcome. It would offer consumers a better deal and competition in this space is definitely required as the digital space has gained massive importance post COVID-19 and is set to witness multifold growth in coming years
- Aamar Deo Singh, Head Advisory, Angel Broking on Google-Vodafone Deal
Voda Idea shares jump 10% on Google investment report
Shares of Vodafone India jumped 10 per cent in Friday’s trade after a Financial Times report said on Thursday Alphabet Inc’s Google is exploring an investment in Vodafone Group Plc’s struggling India business. At 9:23 am, Vodafone Idea shares were up 9.97 per cent at Rs 6.40, while BSE’s 30-share Sensex shed 241.38 points at 31,959.21 points. Google is considering buying a stake of about 5 per cent in Vodafone Idea, the FT reported, people familiar with the matter.
Voda Idea, Tata Motors, SAIL, Tata Power among most active stocks on NSE
Price as on 29 May, 2020 09:25 AM, Click on company names for their live prices.
OPENING BELL: Sensex sheds 300 points, Nifty tests 9,400; Voda Idea surges 9%, Infosys falls 3%
Podcast: All the news briefing you need to start your day
FIIs buy Rs 2,354 cr worth of stocks
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 2,354.14 crore on Thursday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 144.83 crore, data suggests.
Q4 results today
3M India, Dilip Buildcon, Equitas, Everest Industries, Jagran Prakashan, Jubilant Life Sciences, KEC, Lemon Tree, Shipping Corporation of India, RCF, V-Mart and Voltas are slated to announce their financial results on Friday.
Asian shares fall on HK worries
Japan's Nikkei 225 index fell 0.56 per cent to 21,793.28 in early trade. Hong Kong's Hang Seng declined 1.52 per cent to 22,781.11. China's Shanghai Composite index slipped 0.37 per cent to 2835.58.