MARKET WRAP: Sensex ends flat ahead of PM's address, Nifty closes at 10,302

All that happened in the markets today

9:19 AM

Sensex Heatmap at Open

9:18 AM

First Trade

9:17 AM

First Trade

9:16 AM

NEWS ALERT :: Shilpa Medicare launches generic drug to treat advanced kidney cancer

>> Co has launched Indian branded generic of Axitinib, an tyrosine kinase inhibitor drug

(Source: BSE filing)

9:13 AM

Unlock 2.0 opens a small window; PM to address the nation at 4 pm today

The Centre on Monday issued guidelines for “unlock 2.0”, but the rapid increase in Covid-19 cases in several parts of the country meant it stopped short of reopening schools, colleges, and coaching institutions.

 

International air travel and metro rail services will also continue to remain shut at least till July 31, and large congregations stay banned. Tamil Nadu and Maharashtra decided to extend the lockdown in several parts of the states until July 31. READ MORE

9:05 AM

Top gainers and losers on the S&P BSE Sensex at Pre-open

9:05 AM

Markets at Pre-open

9:03 AM

Markets at Pre-open

8:55 AM

BROKERAGE VIEW :: CLSA on J Kumar Infra

Maintains 'Buy', Target price: Rs 170 (from Rs 210)

>> Soft end to a solid year due to covid-19-led labour exodus

>> Q4 net profit 4% higher; in-line with estimates 

>> Co is an inexpensive play on high growth capex, foothold in metro-rail contracting

8:52 AM

Stocks to watch: Tata Steel, Voda Idea, Axis Bank, Tata Power, ONGC, telcos

Tata Steel: The company reported a consolidated pre-tax loss of Rs 1,499.45 crore in the quarter ended March 31, 2020, against a profit before tax of Rs 4,252.50 crore in the corresponding period last year.

 

Vodafone Idea: The telecom company is slated to announce its March quarter results later in the day.

 

Earnings today: Besides Voda Idea, 595 other companies, including ONGC and SAIL are scheduled to release March quarter earnings today. READ MORE 

8:51 AM

BROKERAGE VIEW :: CLSA on Coal India

Maintains 'Buy', Target price: Rs 160 (from Rs 170)

>> Attractive valuation offsets concerns

>> Operational result in Q4 on expected lines

>>Expect receivables to continue increasing before tapering off

>> Expect medium-term volume to rebound, dividend yield to remain high

8:48 AM

BROKERAGE VIEW :: CLSA on Glenmark Pharma

Downgrades to 'Sell' from 'Buy', Target price: Rs 420 (from Rs 440)

>> Flat Q4 earnings and limited room for debt reduction

>> Cut FY22 EPS estimate by 4%

>> Outlook on molecule 1sb830 remains crucial for Co's fund raising plan

8:44 AM

BROKERAGE VIEW :: Jefferies on Bharat Electronics

Maintains 'Buy', Target price: Rs 90

>> Margins surprises by 450 bps at 25.5%

>> Thermal imaging camera, integrated air command revenue contributors

>> Avionics package, smart city biz, warfare systems to be major orders in pipeline for FY21

8:39 AM

BROKERAGE VIEW :: Morgan Stanley on Tata Steel

Maintains 'Overweight', Target price: Rs 405

>> Consolidated EBITDA beats estimates; standlone missed expectations

>> Operations normalising with improved utilisation rates

8:37 AM

BROKERAGE VIEW :: Credit Suisse on Tata Steel

Maintains 'Outperform', Target price: Rs 365

>> EBITDA beat estimtes by 12%

>> Europe's profitability better than expected