F&O expiry: L&T, HDFC twins drag Sensex 173 pts; Nifty settles at 11,671

All that happened in the markets today

12:10 PM

BROKERAGE VIEW | Edelweiss Securities on Marico

RATING: HOLD | TARGET PRICE: Rs 383 

We expect recovery to be gradual following management interventions. Competitive intensity in the hair oil category, which is susceptible to down trading, also needs to be monitored. Considering the strong recovery, we revise up TP to Rs 383 (earlier Rs 365) and maintain ‘HOLD/SP’. At CMP, the stock is trading at 37.8x FY22E EPS.

12:08 PM

FIs to turn discriminatory in 2021 while investing in Emerging Mkts: Nomura

Foreign investors are likely to turn discriminatory in 2021 as they pick and choose their investment options across emerging markets (EMs), says Rob Subbaraman, managing director, chief economist and head of global markets research (Asia ex-Japan), Nomura in an October 28 co-authored note. "Looking into next year, one possible scenario is robust capital inflows return across EM, but we believe the more likely outcome is foreign investors turn more discriminatory in EM, demanding a higher risk premium on EMs that are deemed to face dangerously high debt levels and/or balance of payments vulnerability. More discriminatory capital flows can compound the disparities between strong and weak performing EM economies," Subbaraman said. READ MORE

11:56 AM

MARKET UPDATE:: Sensex pares losses

11:46 AM

Markets slip again on rising Covid cases; should you book profit for now?

S&P BSE SENSEX: The index is witnessing a selling pressure around 41,000 mark. This suggests minor profit booking that may spark a bigger sell-off only after an aggressive close below 39,400 mark. Till that happens, the volatility and profit booking may continue. The index may regain the faith of market participants if it defends 39,400 decisively and exhibits strong rebound above 40,200 levels. If it fails to do so, then the weakness may see a downside towards 38,000 mark. READ MORE 

11:38 AM

Result Today :: Lower treasury gain, elevated credit cost may cap BoB's Q2 profit

MOFSL sees the bank's elevated credit cost and moderated NII to dent earnings during the quarter under review. The deposits are seen growing around 6.5 per cent year-on-year (YoY) to Rs 9.5 trillion from Rs 8.9 trillion reported in Q2FY20. Sequentially, loan book may grow marginally from Rs 9.3 trillion. Credit book, on the other hand, may grow around 9 per cent to Rs 7 trillion from Rs 6.3 trillion in Q2FY20 and Rs 6.8 trillion in Q1FY21. READ MORE

11:28 AM

Withdrawals in global listed funds from Indian markets top $11 bn in CY20

The sharpest pull-out was from India-dedicated funds (both ETF and non-ETF) was at $8 billion, followed by global emerging market (GEM) funds at $2.8 billion. The trend was largely similar in September, with India-dedicated funds pulling out $689 million and GEM funds $184 billion. READ MORE

11:15 AM

Titan Company: Recovery in jewellery biz restricts hit to Q2 performance

Led by significant recovery in its jewellery division, Titan Company was able to restrict the hit to revenues and operating performance in the September quarter (Q2). After a 74 per cent year-on-year decline in Q1, sales declined 11 per cent in core operations in Q2 aided by the unlocking of the country, higher walk-ins, and conversions. READ MORE

11:03 AM

Navin Fluorine gains 6%, nears record high on healthy Q2 results

Shares of Navin Fluorine International were up 6 per cent at Rs 2,246 on the BSE on Thursday in an otherwise weak market after reporting a healthy 43 per cent year-on-year (YoY) growth in net profit at Rs 67.8 crore in September quarter (Q2FY21), on the back of strong operational performance. The stock was trading close to its record high level of Rs 2,248.50, touched on September 16, 2020. READ MORE

11:03 AM

PM assures vaccination for all, says India on its way to economic recovery

Talking about the economy he said that India is on its way to economic recovery as farmers have broken all records of production along with record-high FDI inflows followed by auto and tractor sales that are either reaching or surpassing previous year levels. READ MORE

10:54 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	8.42	-3.00
SUZLON ENERGY	3.89	-4.89
FEDERAL BANK	50.75	-2.78
TATA MOTORS	131.35	-2.56
ST BK OF INDIA	188.60	-1.00

10:44 AM

Result Today :: IndiGo's Q2 loss up to Rs 1,610 crore seen despite cost cutting measures

Centrum Broking pegs EBITDAR loss at Rs 190 crore in Q2, compared with a loss of Rs 1,430 crore in Q1FY21. The brokerage estimates IndiGo's cash burn to have declined to nearly Rs 20 crore per day in Q2 from Rs 30 crore per day in Q1FY21. Overall, total net loss is seen at Rs 1,610 crore in Q2FY21. READ MORE

10:36 AM

NEWS ALERT | 9.14 lakh shares of MCX worth Rs 160.65 crore trade in multiple blocks

10:32 AM

Orient Electric rallies 9% on strong September quarter results

Shares of Orient Electric rallied 9 per cent to Rs 221 on the BSE in the early morning deals on Thursday after the company reported a nearly seven-fold jump in its net profit at Rs 32.4 crore for the September quarter (Q2FY21), on the back of strong operational performance. The CK Birla Group company had posted a profit of Rs 4.8 crore in Q2FY20. It had posted a net loss of Rs 27.3 crore in the previous quarter (Q1FY21). However, revenue remained flat at Rs 434 crore during the quarter. READ MORE

.

10:24 AM

Result Today :: Markets eye Voda Idea's fund raising plan, revenue guidance

According to Emkay, a low base of the last quarter along with moderation in subscriber loss shall lead to a marginal rise in Vodafone Idea's wireless revenues. Subscriber loss is expected to narrow, meaningfully, at 30 lakh vs the quarterly average of 1 crore in the last four quarters. Accompanied by the dip in Q1 and a 40 lakh increase in data subscribers in Q2, average revenue per user (ARPU) is projected to rise 4 per cent. READ MORE

10:15 AM

NEWS ALERT :: HAL, Tech Mahindra sign Rs 400 crore contract for ‘Project Parivartan'

>> Tech Mahindra will be responsible for the transformation and modernisation of the ERP System as an implementation and support partner enabling HAL to streamline and standardize its business processes across the organization.