Financials lift indices; Sensex ends 504 pts up ahead of US poll outcome

All that happened in the markets today

12:11 PM

Q2 RESULTS | Varun Beverages' profit rises 77.5% YoY to Rs 161.5 crore

-- Revenue up 3.5% YoY to Rs 1,839.5 crore

-- Ebitda up 16.9% at Rs 381 crore

12:00 PM

Havells India regains Rs 50,000 crore m-cap mark as stock hits record high

At 11:18 am; Havells India was trading 5 per cent higher at Rs 821.55 with its market capitalisation (market-cap) at Rs 51,430 crore on the BSE, exchange data shows. In comparison, the S&P BSE Sensex was up 1 per cent at 40,146 points. The stock was up for the third straight trading day, soaring 14 per cent after the company reported a strong 80 per cent year-on-year (YoY) growth in its standalone net profit at Rs 325 crore in September quarter (Q2FY21). Net revenue grew 10 per cent YoY at Rs 2,452 crore. READ MORE 

11:52 AM

PNB Concall :: Restructured retail & MSME loans worth Rs 41 cr as of September

>> Have gotten requests to restructure more retail loans worth Rs 32 cr

 

>> The bank is expecting restructuring of loans worth around Rs 4,000-6,000 cr across MSMEs by December

>> Have recovered Rs 2,900 cr in H1FY21

>> Expect recovery of Rs 5,100 cr in H2FY21

>> Expect to raise money via QIP in second or third week of December

11:51 AM

MARKET CHECK

11:49 AM

Sanofi India: Long-term investors advised to consider the stock on dips

Multinational pharmaceutical companies, such as Sanofi India, with a domestic focus and strong brand franchise have remained investors’ favourite. Though the lockdown-related disruption, which affected India's pharma market growth, had hurt Street sentiment, Sanofi’s stock was quick to recover. Still, long-term investors could consider it on dips. READ MORE

11:39 AM

US Elections 2020: What's in store for Sensex, Nifty and key indices

The domestic equity market was trading over a per cent higher in the morning deals on Tuesday, ahead of the much-anticipated US presidential election due later in the day. The benchmark S&P BSE Sensex reclaimed the crucial 40,000 level to trade at 40,261 points while the NSE's Nifty was hovering around 11,400 levels. As per reports, Democratic rival Joe Biden is ahead in national opinion polls, but races are tight in battleground states that could tip the election to Donald Trump.  READ MORE

11:27 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	8.59	-1.38
SUZLON ENERGY	3.36	-4.55
NTPC	86.65	-2.91
TATA MOTORS	135.30	1.84
ASHOK LEYLAND	84.50	3.30

11:15 AM

Ashok Leyland nears 52-week high post October sales, zooms 72% in 3 months

Shares of Ashok Leyland gained 4 per cent at Rs 85.35 on the BSE on Tuesday, gaining 8 per cent in the past two trading days after the company reported healthy growth in sales of trucks and low commercial vehicles (LCVs) in the month of October. The stock of commercial vehicle maker was trading close to its 52-week high of Rs 87.50 touched on January 24, 2020. In past three months, it rallied 72 per cent, as compared to 8.6 per cent gain in the S&P BSE Sensex. READ MORE

11:03 AM

Buoyant mgmt outlook, rising share of retail loans bode well for ICICI Bank

Whether the confidence came from the bank’s better-than-expected collection trends or from an increasing pie of retail loans which strengthened to 66 per cent, up 400 basis points (bps) year-on-year or net non-performing assets (NPA) ratio cooling off to a 5-year best at 1 per cent, it has helped renew investors’ optimism on the stock, with gains of over six per cent on Monday’s trade. READ MORE

10:50 AM

NEWS ALERT | Interest waiver case hearing adjourned to November 5

(as reported by CNBC TV-18)

10:45 AM

BROKERAGE VIEW | ICICI Securities on Bandhan Bank

RATING: HOLD | TARGET PRICE: Rs 400 

Prudent management, lower restructuring pipeline and improving collection efficiency bode well for a high margin/ RoA generating bank. Provision buffer at 2.8% of advances provides comfort. Focus on expanding in housing segment to reduce balance sheet risk while improving business parameters will aid earnings profile and return ratios to return to >3% RoA and >20% RoE. We maintain our target price to Rs 400/share, valuing the stock at 3x FY22E ABV (~13x FY22E EPS). We upgrade from HOLD to BUY as stock price moderated from highs and valuations look reasonable now.

10:38 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	8.61	-1.15
SUZLON ENERGY	3.36	-4.55
NTPC	87.50	-1.96
TATA MOTORS	136.05	2.41
ASHOK LEYLAND	84.90	3.79

10:34 AM

BROKERAGE VIEW | IDBI Capital on Relaxo Footwears

RATING: ACCUMULATE | TARGET PRICE: Rs 735 

We like Relaxo in mass products segment and its healthy product mix, pan India reach and strong brand recall will drive sustainable earnings growth in future. We factor the beat in Q2FY21 and revise our FY21E financials upwards, while marginally downgrade our FY22E estimates considering cautious outlook on raw material front by the management. We introduce FY23E financials in this report. Maintain ACCUMULATE with a revised TP of Rs735 (earlier Rs700) valuing the stock at 50x PER on FY23E.

10:24 AM

HDFC gains 10% in two days on improved asset quality in September quarter

Shares of Housing Development Finance Corporation (HDFC) rose nearly 4 per cent \at Rs 2,116 on the BSE on Tuesday, thus gaining 10 per cent in past two days after the company reported higher than estimated September quarter (Q2FY21) numbers, led by improvement in asset quality and steady assets under management (AUM) growth. READ MORE

10:17 AM

Tata Motors advances 3% as domestic sales increase 27% YoY in October

Shares of Tata Motors gained over 3 per cent to Rs 137.35 apiece on the BSE on Tuesday, a day after the auto major reported 27 per cent growth in its total domestic sales to 49,669 units in October. The company had sold 39,152 vehicles in October 2019. Passenger vehicle sales during the previous month surged 79 per cent to 23,617 cars as compared to 13,169 units in October 2019. READ MORE