MARKET WRAP: Sensex down 190 pts, Nifty below 12K-mark ahead of Budget FY21

All that happened in the markets today

11:27 AM

HUL Q3 preview: Weak rural growth may hit performance; Volumes to grow 4%

Rural growth, which was half of urban in Q2FY20, has seen no change in trajectory and continues to stay around the same level. One positive takeaway this quarter is that the liquidity crisis – which was hurting wholesalers and retailers – has eased somewhat, say analysts. READ MORE

11:12 AM

MARKET UPDATE:: Nifty breaches 12,000

11:09 AM

Shares bought today cannot be sold on the Budget day. Here's why

Finance Minister Nirmala Sitharaman is set to present the Union Budget for FY21 on February 1 amid expectations of relaxation in Long Term Capital Gains tax and Dividend Distribution Tax. Market regulator, Securities and Exchange Board of India (Sebi), has allowed the National Stock Exchange (NSE) and BSE to conduct regular trading on Saturday, February 1. READ MORE

11:03 AM

NEWS ALERT | Budget session begins today; President Ram Nath Kovind addresses joint session of Parliament

11:02 AM

BROKERAGE RADAR | Motilal Oswal Financial Services on Quess Corp

The stock trades at 23x one-year forward P/E, at a 42% deep discount to that of Teamlease. Given the overhang related to some of the aspects, we maintain our

Neutral rating. Our target price of Rs 590 implies 19x FY22E EPS.

10:53 AM

BROKERAGE RADAR | Dolat Research on Dabur India

We have reduced our FY20E and FY21E EPS estimates to Rs 9.4 and Rs 10.2, to factor in delayed recovery in the domestic demand. We have introduced FY22E EPS estimates of Rs 11.3. Valuing the stock at 45x FY22E EPS to arrive at a TP of Rs 510. Maintain Accumulate; buy on dips.

10:53 AM

Nifty CPSE index nears 4-year low; BEL tanks 9%, ONGC down 4%

Shares of Central Public Sector Enterprises (CPSEs) continued to reel under pressure with the Nifty CPSE index trading near four-year low after falling 3 per cent on the National Stock Exchange (NSE) on Friday. At 10:02 am, Nifty CPSE index, the top loser among thematic indices, was down 3 per cent at 1,720 on the NSE. The index has fallen below its previous low of 1,757.75, touched on August 23, 2019. It was trading at its lowest level since February 12, 2016, when it hit a low of 1,704 in intra-day deals. READ MORE

10:51 AM

BROKERAGE RADAR | ICICI Securities on Pidilite Industries

At the CMP, the stock is trading at 51x FY21E and 44x FY22E earnings. While we remain structurally positive on Pidilite given its strong brand and balance

sheet condition, the tepid volume growth in the medium term would weigh on valuations. We maintain our HOLD rating on the stock with a revised target price of Rs 1,620/share.

10:48 AM

Vedanta slips nearly 1% ahead of Q3 result

10:37 AM

NEWS ALERT | SC rejects depositors' plea for repayment in DHFL case: CNBC TV18

10:37 AM

NEWS ALERT | Expect productive budget session of Parliament: PM Modi

-- Will continue to focus on empowering the poor: PM

10:23 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
RELIANCE POWER	1.67	-0.04	-2.34	17393598
VODAFONE IDEA	5.32	0.14	2.70	7328371
YES BANK	39.70	0.65	1.66	2743659
TATA MOTORS	179.60	-6.60	-3.54	1151669
MOTHERSON SUMI	135.95	-2.95	-2.12	569571

10:22 AM

Momentum picks by ICICI Securities

10:11 AM

Economic survey likely to peg India's FY21 growth at 6-6.5%: Report

India's economic survey is seen projecting growth of 6 to 6.5 per cent in the next year starting April 1, boosted by a series of fiscal measures to revive demand that the government is likely to announce in the budget, a source said on Friday. India faces its worst economic slowdown in a decade. Growth slipped to 4.5 per cent in the July-September quarter, imperilling job prospects for millions of young people entering the workforce each year. READ MORE

9:59 AM

Amber Enterprises soars 9% on robust Q3 earnings; zooms 47% in January

Shares of Amber Enterprises India soared 9 per cent to Rs 1,639 on the BSE on Friday after the company showcased a robust performance in the December quarter (Q3FY20) with operating earnings before interest, tax, depreciation and amortization (Ebitda) more than doubling at Rs 52 crore. It had clocked an operating Ebitda of Rs 26 crore in the same quarter last year. READ MORE