Indices rally for 5th straight day, Sensex up 553 pts; RIL, financials gain

All that happened in the markets today

12:55 PM

US Elections 2020 :: Donald Trumps claims to win presidential elections

12:44 PM

NEWS ALERT :: SC upholds TRAI's directions to Bharti Airtel & Vodafone Idea to disclose details on segmented offers

>> Supreme Court upholds TRAI drive against specialised offers given to customers looking to migrate to rival networks.

12:40 PM

GLOBAL MARKETS CHECK:: Asian stocks mixed

Asian stock markets were mixed Friday after Wall Street rose amid protracted vote-counting following this week's US elections. Tokyo and Sydney advanced while Shanghai and Hong Kong declined. Seoul swung between gains and losses. Markets are betting on control of the US Congress being split between Republicans and Democrats, which could mean low taxes and light regulation that investors like stay in place. READ MORE

12:31 PM

Asian Paints, Pidilite Ind: Trading strategies for paint stocks post Q2 nos

Paint companies have posted a decent set of numbers for the quarter ended September 2020 on the back of strong demand post un-lock and a strong pickup in decorative, automotive, and other industrial coatings business segments. For instance, Berger Paints on Thursday reported a 13.55 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 221.05 crore for the quarter ended September 2020 while Pidilite Industries' profit rose 10 per cent YoY at Rs 356.42 crore. READ MORE  

12:28 PM

Sept Quarter Result | Bank of India's profit comes in at Rs 525 crore

>> NII at Rs 4,113.3 crore

>> NNPA at 2.89%

12:20 PM

Jindal Stainless (Hisar) gains 10% in 2 days on healthy volume growth in Q2

The company said the remarkable turnaround of auto sector, both in passenger vehicles and two-wheeler segments, aided sales volumes during the quarter. With revival in construction activities, and a boost from the company's co-branding program, the decorative pipes and tubes segment received further fillip, it said. READ MORE

12:10 PM

US Election results 2020: Who's leading in 5 key states

11:58 AM

Indiabulls Housing Fin stock may stay subdued as growth remains elusive

It has been nearly two months since Indiabulls Housing Finance's successful round of qualified institutional placement (QIP) and the Rs 1,894 crore it raised by divesting stake in its UK-based OakNorth Bank subsidiary. Yet the company's stock has not been able to regain the Street’s confidence. At Rs 144.3 a share, the stock trades at 30 per cent discount to its QIP price at Rs 206.7 a share which was at par with its market price when the issue was launched in September. READ MORE

11:51 AM

BUZZING :: Maruti Suzuki declines in trade

11:42 AM

Sebi doubles foreign investment limit for individual fund houses to $600 mn

The Securities and Exchange Board of India (Sebi) has doubled the limit of overseas investments for individual fund houses to $600 million. However, the industry-wide cap for investing abroad remains unchanged at $7 billion.

 

The regulator has also quadrupled the quantum of investment that individual fund houses can make in foreign exchange-traded funds (ETFs) to $200 million from $50 million at present. The industry limit remains at $1 billion. READ MORE

11:33 AM

Q2 RESULTS | India Cements' Q2 net profit at Rs 71.4 crore

-- Revenue dips 14.1% YoY at Rs 1,070 cr

-- Ebitda up 11.4% YoY to Rs 235 cr

-- Ebitda margin up 1,010 bps to 21.9%

11:25 AM

Nifty makes K-shaped recovery to wipe out Covid losses

The benchmark Nifty50 index has crossed the 12,000-mark for the first time since February 20. In the interim eight-and-a-half-month period, the gauge for the performance of India’s 50 blue chip companies plunged to as low as 7,511 on March 23.

 

Since then, it has rebounded 61 per cent, wiping out all the losses triggered by Covid-19. While the index is almost back to pre-Covid highs, the stock prices for over half of its components are still below their February 20 levels. READ MORE

11:24 AM

Investors should combine asset classes with low or negative correlation

The markets have been volatile this year. Towards the end of March, when the pandemic-led lockdown began, the equity markets took a massive beating. On March 23, the Nifty50 index was down 37.5 per cent year-to-date (YTD). Now, the YTD return of this benchmark is down 0.40 per cent, which means it is about to break into positive territory. READ MORE

11:15 AM

BROKERAGE VIEW | ICICI Securities on Apollo Tyres

RATING: HOLD | TARGET PRICE: Rs 175 

We expect sales, PAT CAGR at 7.4%, 25%, respectively in FY20-23E. The company’s stated focus on deleveraging and improvement in return ratios going forward is a positive. Given the market share gains across the segment by ATL amid healthy demand prospects, we upgrade ATL from HOLD to BUY, valuing ATL at Rs 175 i.e. 5.8x EV/EBITDA on FY22E numbers. 

11:14 AM

Result Today :: ITC's Q2 revenue from hotels biz may fall over 90%

ITC, the Kolkata-headquartered diversified conglomerate, is slated to announce its September quarter results (Q2FY21) on Friday, November 6. The company's revenue from the cigarette business is likely to reach up to 90 per cent of the pre-Covid levels; however, its hotel business will be the most adversely impacted due to the outbreak of coronavirus leading to a revenue dip of over 90 per cent. FMCG business, on the other hand, is estimated to do well on the back of both foods and personal care doing well, analysts say. READ MORE