MARKET WRAP: Sensex trims losses, ends 12 pts down; Nifty closes at 11,194

All that happened in the markets today

2:14 PM

Rupee Closing

Rupee settles lower at 74.83 per US dollar vs Thursday's close of 74.75/$

2:08 PM

Gold poised for best week in over 3 months on soft dollar, stimulus bets

"The basic logic has to do with the introduction of further fiscal stimulus... in the European Union, and we're talking again about further fiscal stimulus in the United States," said DailyFx currency strategist Ilya Spivak.

 

"Interest rates are not really expected to go higher, and the likely response is seen as inflation." Gold tends to benefit from widespread stimulus measures from central banks as it is perceived as a hedge against inflation and currency debasement. READ MORE

2:02 PM

Airtel Africa reports $57 mn profit, falling 53% in constant currency terms

Airtel Africa, an arm of India’s Bharti Airtel, on Friday posted profit after tax of $57 million for the quarter ended June 30, driven mainly by higher data consumption and usage of mobile wallet amid the coronavirus pandemic. However, the company’s profit was 53.6 per cent lower in constant currency terms than the corresponding period last year, when it had reported a profit after tax of $132 million in the same period, last year. READ MORE 

1:56 PM

MARKET UPDATE:: JSW Steel slips 2% ahead of June quarter nos

1:51 PM

MARKET CHECK

1:43 PM

MARKET UPDATE:: BSE Midcap index trades in-line with Sensex, slips 0.7%

1:36 PM

STOCK ALERT :: Granules India hits fresh record high

1:30 PM

Moody's downgrades Hero FinCorp ratings; outlook revised to negative

The outlook has been revised to negative from ratings under review. Indian non-bank finance companies (NBFCs) are expected to be affected by the shock given the extensive disruptions to India's economic activity.

 

Today's rating action concludes the review for downgrade initiated on 13 April 2020, Moody’s said in statement. READ MORE

1:20 PM

European markets trade weak

1:14 PM

Syngene International rallies 13% in two days; stock nears record high

Shares of Syngene International moved higher by 8 per cent to Rs 472.50 on the BSE on Friday, thus rallying 13 per cent in the past two trading days after the company reported a better-than-expected operational performance in April-June quarter (Q1FY21). The stock of the pharmaceutical company was trading close to its all-time high level of Rs 474.75, touched on July 7, 2020. READ MORE

1:07 PM

NEWS ALERT :: RBI allows Route One to hike stake in IndusInd Bank

1:03 PM

SECTOR WATCH:: Metal stocks fade

COMPANY NAME	LATEST	HIGH	LOW	CHG(%)
S A I L	34.10	34.90	33.70	-2.99
HINDALCO INDS.	156.00	160.90	154.40	-3.67
VEDANTA	110.05	113.80	109.80	-3.38
JINDAL STEEL	166.45	171.10	165.60	-3.06
JSW STEEL	204.90	211.35	204.80	-2.17

1:03 PM

NEWS ALERT :: Hero MotoCorp to invest Rs 83.99 crore in Ather Energy Pvt Ltd

>> Investment to be made through Compulsorily Convertible Preference Shares

>> Post this investment, the shareholding of Hero MotoCorp Ltd in Ather Energy Private Limited will increase from 35.10% (31.27% on a fully diluted basis) to 38.57% (34.58% on a fully diluted basis). 

(Via BSE filing)

12:54 PM

Q1 early-bird results better than expected; IT, financial services do well

Early bird results for the June 2020 quarter hint at a better-than-expected showing by India Inc. The combined profit before tax (PBT) of the 95 companies that have declared results so far fell 8.6 per cent year on year (YoY), while their net profit and net sales were down 3.4 per cent each during the first quarter. READ MORE

12:46 PM

'Too many unknowns': Localised Covid-19 lockdowns make MNC CEOs anxious

Some of the world’s top consumer goods companies, including Unilever, Coca-Cola, and PepsiCo, are worried about the impact of localised lockdowns in India on their business, even as the threat of community transmission of Covid-19 grows in the country. Kerala has confirmed community transmission in the state, despite the central government denying any signs of it in the country. READ MORE