Sunday, December 22, 2024 | 05:31 PM ISTEN Hindi

MARKET WRAP: Sensex loses 155 pts amid selling in banks; IBHFL tumbles 34%

All that happened in markets today.

SI Reporter New Delhi

hare brokers react to falling stock prices on screens of computers and television

12:04 PM

NEWS ALERT | DEA Secy to brief media at around 5:45 pm on H2 borrowings: CNBC-TV18

11:58 AM

NEWS ALERT | We would not read much into PCA process initiated against LVB: IBHFL to CNBC-TV18

11:55 AM

ICRA on Cement sector

“Cement demand remained subdued in 4M FY2020 and witnessed a modest increase of mere 2.7% as against the healthy 15.0% Y-o-Y in the corresponding period previous year. This resulted in the correction in prices since June 2019 across various markets. However, the average prices in the current year are still higher than the previous year. The price hikes undertaken in March-April 2019 sustained until June 2019. Even after some correction in the cement prices, they continue to remain higher in July-August 2019 on a Y-o-Y basis in the northern and western markets. We believe for the prices to increase from the current levels would have to be backed by the revival in the cement demand, says Sabyasachi Majumdar, Senior Vice President & Group Head – Corporate Ratings, ICRA.

11:42 AM

STOCK IN NEWS | Indiabulls Housing Finance extends losses, slumps 35%

11:41 AM

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

11:33 AM

Why the festival season may not bring much cheer despite tax cuts by govt

Indians typically buy everything from new cars to shoes for themselves and as gifts during celebrations steeped in religion and tradition. Yet the slowest economic growth in six years, unemployment at a 45-year high and tepid private consumption may see sales fall short of recent years, even after the government’s $20 billion tax break to companies earlier this month. READ MORE

11:31 AM

Prabhudas Lilladher on IRCTC IPO

We recommend a SUBSCRIBE on Indian Railway Catering & Tourism Corporation Ltd (IRCTC) given monopoly position in providing packaged drinking water, catering, online ticket booking services to passengers travelling by Indian Railways (IRs), strong business visibility amid re-introduction of service charge (Rs 15 per ticket for non-AC and Rs 30 per ticket for AC from 01 Sep 2019) for online ticket booking and plans to double the number of Rail Neer plants to 20 by FY21E 3) debt free & cash rich BS (Rs 11.4bn of cash as of FY19; ~23% of post money market cap) with healthy return ratios (RoE/RoCE of 26%/33% respectively as of FY19) and healthy dividend pay-outs (~41% over the last 3 years).

Over FY17-19, IRCTC's sales/EBITDA/PAT have grown at a CAGR of 10.3%/9.1%/9.1% respectively. At the upper end of the price band, the issue is priced at 19x FY19 EPS of Rs17 (no listed peer available to facilitate comparison), and looks attractive due to limited competitive risks, and expected margin swing from revenue windfall with re-introduction of service charge.

11:30 AM

NEWS ALERT | One-time excess payment by RBI, not a bar for Govt to seek interim dividend: sources to CNBC TV18

Alert: Reports said, Govt is mulling seeking Rs 30,000 cr as interim dividemd from RBI

11:16 AM

Lakshmi Vilas Bank under pressure as RBI initiates PCA, IBHFL tanks 14%

Shares of Lakshmi Vilas Bank (LVB) and Indiabulls Housing Finance came under pressure in the early trade on Monday after the Reserve Bank of India (RBI) initiated prompt corrective action (PCA) plan on the former. Both LVB and Indiabulls Housing Finance are proposed to merge. Last month, Indiabulls Housing Finance said it expects the regulator to take a decision on its merger plan with Lakshmi Vilas Bank in the next two months. READ MORE

11:05 AM

NEWS ALERT | PVR promoter release pledge on 73 lakh shares on Sept 24: CNBC TV18

11:04 AM

IDBI Bank declines 4% after Board approves 19.18% stake sale in APCIL

"The Board of Directors, at its meeting held on Friday, September 27, 2019, (have) granted in-principle approval to divest --partly or wholly-- 6,23,23,800 equity shares (19.18 per cent) of Asset Reconstruction Company (India) Ltd. (ARCIL) held by IDBI Bank," the bank said in an exchange filing.

The divestment would be subject to compliance with all applicable laws, regulations and guidelines, the bank added.READ HERE

10:48 AM

NEWS ALERT | Reliance Capital clears Rs 73 crore in NCD payments: BSE filing

Reliance Capital Ltd has made interest and principal repayments of Rs 72.65 crore on Friday, September 27 and Monday, September 30 on a range of instruments including non-convertible debentures, term loans and inter corporate deposits.

10:42 AM