Sensex surges 548 points amid broad-based buying; Nifty ends above 10,900

All that happened in the markets today

2:17 PM

INDEX GAINER:: ONGC up over 5%

2:05 PM

Rupee Closing

Rupee settles higher at 75.02 per US dollar vs Thursday's close of 75.19/$

1:58 PM

Disruption in retail? Avenue Supermarts has a strong competitor in JioMart

Reliance Industries' announcement related to its retail business, Reliance Retail, which includes its online grocery business JioMart, impacted sentiment towards Avenue Supermarts. In an otherwise bullish market when Sensex was up 1.2 per cent, the stock of Avenue Supermarts, which operates the popular chain of DMart hypermarkets, shed 6.5 per cent on Thursday. READ MORE

1:57 PM

RIL, HDFC Bank contribute the most to the S&P BSE Sensex's gain today

1:46 PM

HDFC Bank Q1 preview: Moratorium to contain slippages; recovery trends eyed

Analysts would watch out for the management’s commentary on retail asset quality, moratorium trends, and trends in collection efficiency.

 

“Asset quality trend will likely remain benign due to the moratorium, but ahead of peers. Key monitorable will be trend in book under moratorium,” said analysts at Edelweiss Securities in their result preview report. READ MORE

1:36 PM

MARKET CHECK :: Sensex erases gains partially, up 150 pts now

1:29 PM

European shares open mixed

1:22 PM

Britannia Industries posts 118% jump in Q1FY21 net profit at Rs 543 crore

Britannia Industries on Friday posted a strong set of numbers for the first quarter of the fiscal year 2020-21 (Q1FY21). The company's consolidated net profit jumped 118 per cent year-on-year (YoY) to Rs 542.68 crore as against Rs 248.64 crore in the year-ago period. Sequentially, the numbers grew 45.74 per cent. The company's revenue came in at Rs 3,384.46 crore, up 26.4 per cent against Rs 2,677.32 crore in the corresponding quarter of the previous fiscal. Total income came in at Rs 3,514.35 crore against Rs 2,767.80 crore in June 2019 quarter. READ MORE

1:14 PM

JioMart shakes up online grocery picture despite being late to party

The pecking order in the $2-billion online grocery market in India has been shaken up by newcomer JioMart. Based on orders per day, JioMart, the two-month-old e-commerce venture of Reliance Industries (RIL), is ahead of rivals BigBasket and Amazon, numbers shared by these firms and sourced from the industry indicate. READ MORE

1:08 PM

Granules India surges 8%, hits new high on strong June quarter results

Shares of Granules India jumped 8 per cent to Rs 265, also its new high, on the BSE on Friday after the company reported a strong set of numbers with Ebitda (earnings before interest, taxes, depreciation and amortization) margin improvement of 503 basis points to 25 per cent in June quarter (Q1FY21). The company’s revenue from operations in Q1FY21 grew by 23.6 per cent year on year (YoY) to Rs 735.6 crore. Ebitda for the quarter grew at 54.8 per cent at Rs 183.60 crore. Profit after tax rose 33.9 per cent YoY at Rs 111.4 crore. READ MORE

1:00 PM

June Quarter Result :: Britannia Industries logs consolidated profit of Rs 546 crore

>> Consolidated revenue at Rs 3,421 crore

>> EBITDA at Rs 717 crore

>> EBITDA margin comes in at 21%

12:53 PM

BROKERAGE VIEW:: Axis Securities on Infosys

We believe Infy has a resilient business structure from a long term perspective and multiple long term contracts with world’s leading brands. With depreciation in rupee, lower travel cost, lower on site expenses EBITDA margins likely to expand in near term. We recommend a BUY and assign 20x P/E multiple to its FY22E earnings of Rs. 48.5 per share which gives a TP of Rs 940 per share, an upside of 13%.

12:42 PM

P-notes investment in capital market climbs to Rs 62,138 cr till June

P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors, who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. READ MORE

12:32 PM

Hope rally in diagnostic stocks may fizzle on disruption in OPD services

Investor sentiment towards diagnostics firms has improved in July, adding to gains seen in the April-June period. While recovery in business volumes after the 25-30 per cent hit during the lockdown has helped, the rise in Covid-19 testing by private players will support volumes and revenues. READ MORE

12:20 PM

BPCL surges 14% in 2 days as global oil giants show interest in company

Shares of Bharat Petroleum Corporation (BPCL) rose 7 per cent to Rs 421 on the BSE on Friday. The stock has surged 14 per cent in the past two trading days, on reports that global oil giants are showing interest in the state-owned oil marketing company. The counter has seen more-than-doubled trading volumes with a combined around 16 million equity shares changing hands on the BSE and NSE till 11:36 am. READ MORE