MARKETS: Sensex erases gains, ends 262 pts lower; banks, metals, FMCG drag

All that happened in the markets today

10:52 AM

Rallis extends rally ahead of Q4 results; stock zooms 83% from March low

Shares of Rallis India were trading higher for the third straight day, up 5.5 per cent at Rs 232 on the BSE on Tuesday ahead of March quarter results. The agrochemicals company is schedule to announce its January-March quarter (Q4FY20) earnings and recommend of dividend, if any, for the financial year FY20 today. READ MORE

10:43 AM

Risk of underperformance by domestic markets after April showing

Despite being a washout month for the economy, Indian equities were the best performers globally in April. The Nifty rose 14.7 per cent in local currency terms — most among major world markets. In dollar terms, India’s returns were slightly below that of Taiwan. Some believe that the best monthly performance in 11 years was on a weak footing, as it was sans any fundamental base. If investor sentiment turns bearish, domestic markets could tumble, they add. READ MORE

10:29 AM

Marico shares jump 6% as Q4 earnings meet estimates, margin expands

The FMCG firm's earnings before interest, tax, depreciation, and amortisation (Ebitda) margin increased by 58 basis points YoY to 18.9 per cent in Q4FY20 owing to stable input costs and lower advertising spends. This also contained the impact on the top line, with Marico’s pre-tax profit declining 3 per cent YoY to Rs 262 crore versus analysts’ estimate of Rs 267 crore. READ MORE  

10:24 AM

MARKET UPDATE | Lupin up nearly 1%

>> It has announced positive topline results from its Phase 3 study of single-dose Solosec (secnidazole) for the treatment of Trichomoniasis

10:23 AM

AU Small Finance hits 5% lower circuit for 2nd straight day post Q4 results

Till 09:51 am, around 60,000 shares have changed hands on the counter on the NSE and BSE, and there were pending sell orders for 750,000 shares. In comparison, the S&P BSE Sensex was up 1 per cent at 32,054 levels. READ MORE

10:15 AM

MARKET CHECK | Top 5 gainers on the BSE at this hour

10:07 AM

Rupee Opening

>> Rupee opens 9 paise higher at 75.62 per US dollar vs Monday's close of 75.71/$

10:04 AM

MARKET CHECK | ONGC jumps over 5%; top Sensex gainer

10:02 AM

NEWS ALERT | Petrol, diesel prices hiked in Delhi

9:54 AM

MARKET VOICE | Vijay Kedia on investing during market rally

DON'T WASTE A RALLY. Learn from your mistakes. Sell your fundamentally weak stocks or Reshuffle your portfolio ( if needed). Buy peace.

9:53 AM

Commodity watch from Geojit Financial Services

9:51 AM

F&O WATCH :: Gainers and losers

(Source: SMC Global report)

9:49 AM

BROKERAGE VIEW :: Motilal Oswal on RIL - Silver Lake deal

We expect RJio to garner 44% EBITDA CAGR over FY20-22E on the back of 22% revenue CAGR and 1,550bp margin improvement. Its recent 4QFY20 results saw the company post subdued ARPU growth. However, we understand the extended validity plans could accrue ARPU increase in FY21.

Further, Voda-Idea's (VIL’s) stretched balance sheet offers an incremental opportunity to RJio through ARPU increase or market share gains. We have valued RJio at an enterprise value of Rs 5,084 billion using our DCF-based method, with an implied EV/EBITDA of 15x/11x on FY21/FY22E, to arrive at value/share of Rs 760.

9:48 AM

BROKERAGE VIEW :: ICICI Securities ceramic industry tracker

Exports to GCC region largely comprised of GVT and ceramic wall tiles. GVT pricing is already under stress due to excess capacity in Morbi and recent capacity additions by KJC and SOMC in South India. Pricing is now likely to come under even more pressure in the face of surplus production from Morbi units (which were earlier exported to the GCC). While pricing of ceramic wall tiles has been relatively stable in the recent past, the expected freeing-up of capacities in Morbi units is likely to put pricing of ceramic wall tiles also under pressure.

9:46 AM

BROKERAGE VIEW :: ICICI Securities on Ramco Cements

Key takeaways from our recent interaction with company: i) the company has partially resumed operations at all its plants; expects rural/semi-urban housing demand and government spend to remain strong; ii) industry is expected to maintain pricing discipline owing to lower volumes; iii) Odisha and Vizag grinding units are likely to get commissioned in Q1FY21 while clinker lines at Jayanthipuram and Kurnool may get delayed; iv) company has incurred nearly 2/3rd of planned capex (of Rs35bn) till date; net debt is likely to peak out at Rs35bn; and v) lower fuel prices, new grinding units and WHRS to provide cost savings. We broadly maintain our FY20E-FY22E estimates with target price unchanged at Rs635/share (12x Mar’22E EV/E). Maintain BUY.