MARKET WRAP: Sensex slips 143 pts amid weak global cues; financials decline

All that happened in the markets today

9:31 AM

Coal India slips in early deals

>> The world's largest coal miner CIL on Thursday said it has lined up Rs 10,000 crore as capital expenditure (capex) for the current financial year. Besides, the government is considering a plan to raise as much as Rs 20,000 crore by selling stake in CIL and IDBI Bank, according to a Bloomberg report.

9:29 AM

Vodafone Idea declines over 1.5% on payment default

>> Vodafone Idea, the joint venture between Vodafone Group Plc and Aditya Birla Group, has defaulted on rental and energy payments for June to telecom tower companies

9:28 AM

Tata Motors adds 0.5%

>> The company's luxury car subsidiary Jaguar Land Rover (JLR) reported a decline of 42 per cent YoY in its retail sales at 74,067 units for the June quarter.

9:26 AM

TCS trades mildly lower post Q1 nos

>> TCS reported profit before tax (PBT) of Rs 9,504 crore, which was 9.6 per cent lower than in the previous quarter and 10.65 per cent lower than the same period of the previous financial year. Net profit declined 13.81 per cent year-on-year (YoY) to Rs 7,008 crore for this period while sequentially it went down by 12.9 per cent.

9:25 AM

Reliance Industries support market; up 1%

>> BP and Reliance Industries (RIL) on Thursday announced the commencement of their new fuel retailing and mobility joint venture (JV). The JV will now begin rebranding RIL fuel retail outlets to Jio-BP.

9:22 AM

DHFL slides 3%

9:22 AM

PNB cracks over 4% on declaring loan to DHFL as fraud

9:20 AM

Sectoral trends on NSE :: PSBs weak, pharma in the green

9:19 AM

Sensex Heatmap :: Only 5 of 30 constituents trade in the green

9:18 AM

Opening Bell

9:17 AM

Opening Bell

9:07 AM

Top gainers and losers on the S&P BSE Sensex at Pre-open

9:06 AM

Markets at Pre-open

9:05 AM

Markets at Pre-open

9:04 AM

BROKERAGE VIEW :: Motilal Oswal Financial Services on TCS

CMP: Rs 2,204 | TP: Rs 2,300 (+4%) | Reco: Neutral

>> TCS has a historical track record of adapting to multiple business challenges and technology change cycles. Additionally, it has consistently maintained its market leadership, best-in-class operational metrics, and high return ratios.

>> While the peak of COVID-19-led uncertainty may be behind, near-term negative surprises related to demand, pricing, and collections cannot be ruled out.

>> Nevertheless, TCS should be able to better navigate through these challenges (v/s the rest of the industry). Over the medium term, we expect TCS to be a key

beneficiary of the COVID-19-driven increase in technology intensity across verticals.

>> Rich multiples (22x FY22E EPS) leave limited upside in the stock, in our view. Accordingly, we remain NEUTRAL on the stock despite being positive on the company.