MARKET: Sensex slips 422 pts amid a sell-off in RIL; Nifty ends at 11,203

All that happened in the markets today

10:45 AM

IndusInd Bank soars 7% on in-line June quarter result, capital raising plan

Analysts at ICICI Securities had expected the private lender's net profit to plunge 83.5 per cent year-on-year (YoY) to Rs 236.8 crore in the recently concluded quarter. Sequentially, the decline would have been 21.5 per cent from Rs 301.8 crore clocked in Q4FY20. Those at Edelweiss Securities, however, had expected the profit at Rs 433.8 crore.

 

On consolidated basis, IndusInd Bank reported 64.4 per cent decline in its net profit at Rs 510.39 crore in Q1FY21, compared to Rs 1,432.54 crore in year-ago quarter. READ MORE

10:39 AM

Top losers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
HATHWAY CABLE	42.00	-4.98
GUJ PIPAVAV PORT	75.40	-3.95
ARVIND FASHIONS.	122.20	-3.74
GMR INFRA.	22.75	-3.19
NESTLE INDIA	16639.40	-2.69

10:31 AM

Time to buy: Sentiment gauge says stay bullish as markets bounce back

The contrarian-gauge devised by Bank of America Merrill Lynch (BofA) is currently in the ‘neutral’ zone, indicating that there may be more steam left in the rally. In March, the reading on the risk-love indicator was that of peak panic, suggesting it was time to buy. When the reading on the gauge is ‘extremely bullish’ it is time to sell. Currently, both developed and emerging markets (EMs) are in neutral territory. READ MORE

10:17 AM

Nifty Bank: 9 years of outperformance wiped in 4 months due to pandemic

For nearly a decade, banks, especially private sector lenders, were the perfect stocks for investors and fund managers to pick to beat benchmark indices and generate alpha returns in their portfolios. The Covid-19 pandemic has ended this as years of outperformance by banking stocks has been wiped off over the past four months. The Nifty Bank Index has fallen 32 per cent since January, and continues to lag behind the broader market. READ MORE

10:07 AM

HDFC Q1 preview: Higher provisions, tepid credit growth could hit earnings

Housing finance company, HDFC (Housing Development Finance Corporation), is scheduled to report its June quarter earnings (Q1FY21) amid expectation of tepid loan disbursal, elevated provisioning, and contraction in net interest margin (NIM) as credit demand remained weak amid the ongoing Covid-19 pandemic. The HFC, which is scheduled to report its April-June quarter earnings for FY21 on Thursday, July 30, is also likely consider issuance of secured redeemable, non-convertible debentures, in various tranches, aggregating up to Rs 45,00 crore on a private placement basis, reports suggest. READ MORE

10:04 AM

Rupee opening

Rupee opens higher at 74.82/$ vs Tuesday's close of 74.84 against the US dollar

10:01 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	7.97	-1.12
FUTURE CONSUMER	10.15	4.64
SUZLON ENERGY	4.54	4.85
B H E L	38.70	3.20
SOUTH IND.BANK	6.72	-1.61

9:54 AM

MARKET UPDATE:: Broader indices outperform benchmarks

9:48 AM

Tata Coffee soars 16% as net profit grows 77% YoY in June quarter

Shares of Tata coffee soared 16 per cent to Rs 96.80 in the early morning trade on the BSE on Wednesday after the company reported robust performance for the April-June (Q1FY21) quarter. The Tata Group company's consolidated net profit increased by 77 per cent to Rs 62 crore on the back of strong volumes growth, as against Rs 35 crore profit clocked in the previous year quarter. READ MORE

9:42 AM

MARKET UPDATE:: Sensex gives up opening gains, turns negative

9:35 AM

Future Retail locked in 5% upper circuit

9:33 AM

Result Impact | IDBI Bank logs second consecutive quarterly profit

>> The private sector lender posted a profit before tax (PBT) of Rs 437.97 crore for the quarter ended June 2020 (Q1FY21) on a rise in net interest income and a dip in provisions and contingencies.

9:31 AM

Commodity heatmap :: Gold hits fresh record high on MCX

9:29 AM

Ahead of Q1 nos | Bharti Airtel trades flat with positive bias

9:27 AM

Result Impact | Tata Coffee surges over 11%

>> Tata Coffee Ltd on Tuesday reported a 77 per cent increase in consolidated net profit at Rs 62 crore for the quarter ended June. Its net profit stood at Rs 35 crore in the year ago period.