MARKET WRAP: Indices trim gains, Sensex ends 277 pts higher; DHFL jumps 32%

All that happened in markets today

11:57 AM

Coal India gains 3%

11:50 AM

Asian, Berger Paints hit record highs on strong Q1 earnings, low oil price

Paint companies Asian Paints and Berger Paints rallied to their respective record highs on the BSE on Tuesday on the back of strong June quarter earnings and fall in crude oil prices. Berger Paints climbed 5 per cent to Rs 352 after the company posted a better-than-expected 31 per cent year-on-year (YoY) growth in consolidated net profit at Rs 164 crore in Q1FY20, on the back of strong volume growth. The stock surpassed its previous high of Rs 349 touched on August 29, 2018 in intra-day trade. READ MORE

11:40 AM

Economic slowdown n India has been sharper than anticipated: BNP Paribas to CNBC TV18

-- Last few weeks have been a perfect storm for Asia and EMs
 
-- Still maintain overweight on India, but will re-think target prices

11:36 AM

Credit Suisse downgrades RIL to underperform, reduces target price

Credit Suisse has downgraded Reliance Industries (RIL) from neutral to underperform, on the back of higher liabilities and slow enterprise roll-out for the telecom business. The brokerage reduced its target price for the company to Rs 995 per share from Rs 1,350 apiece. “Our target price cut factors in higher liabilities of $10 billion from crude payables, JioPhone financing and East West Pipeline, multiple cuts and lower earnings for refining, and slow enterprise roll-out and weak Jio ARPU in the first quarter,” analysts with Credit Suisse said in the August 5 dated report. READ MORE

11:32 AM

YES Bank off day's high

11:32 AM

Pick of the week :: Kotak Securities

JK Lakshmi Cement

Recommendation: BUY

 

Price: Rs 330 
 

Target: Rs 432
 

Potential Upside: 30.9%

The management highlighted that its primary focus was on deleveraging its balance sheet through improving operational cash flows in FY20. 

It has guided for 8-10% cement volume growth in FY20 led by lower clinker sales and ramp-up of Odisha grinding unit. However, given weak demand we estimate 5-3% volume growth in FY20-21E.

JK Lakshmi Cement

11:20 AM

Tech Mahindra gains over 2%

11:16 AM

NEWS ALERT | Some places reported 400-600 mm rainfall like Baroda, Mahabaleshwar: Met Dept

11:07 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
VODAFONE IDEA	5.82	-0.19	-3.16	6378536
YES BANK	83.50	2.40	2.96	4399624
REL. COMM.	1.36	0.06	4.62	4394261
ESSEL PROPACK	125.60	-1.65	-1.30	2358746
TATA MOTORS	125.05	1.30	1.05	1213233

10:57 AM

SRF surges 12% after posting strong numbers in June quarter

SRF shares surged 12 per cent to Rs 2,888 in Thursday's early morning deal on the BSE after the company reported a healthy 41 per cent growth in consolidated net profit at Rs 189 crore in the June quarter (Q1FY20) on strong performance by packaging film business. It had a profit of Rs 134 crore in the year-ago quarter. The company's consolidated revenue during the quarter grew by 9 per cent from Rs 1,676 crore to Rs 1,828 crore in Q1FY20 when compared with corresponding period last year. READ MORE

10:53 AM

DHFL climbs over 4%

10:32 AM

Chart reading: Sensex, Nifty show reversal, but will this rebound sustain?

The benchmark indices, S&P BSE Sensex and Nifty50, have plunged over six per cent in the last 12 sessions, resulting in market participants losing confidence and waiting for revival of the trend. This sharp decline suggests that a rebound is imminent; however, the bigger question is will this recovery sustain and should investors start investing aggressively in the stocks? Technical charts does show rebound but suggest in order to sustain recovery, indices must witness sideways consolidation or a V-shape recovery to regain the positive sentiment and reverse market breadth. READ MORE

10:21 AM

Sterling and Wilson Solar IPO opens today: Should you subscribe to it?

Sterling and Wilson Solar (SWSL), the solar engineering, procurement and construction (EPC) solutions provider, is set to launch its initial public offering (IPO) on Tuesday (August 6). SWSL is promoted by the Shapoorji Pallonji Group and is the demerged Solar EPC Division of Sterling and Wilson (SWPL). The company commenced operations in 2011 as the Solar EPC Division of SWPL and demerged from SWPL with effect from April 1, 2017. READ MORE

10:20 AM

ICICI Bank trades higher

10:15 AM

Strong volume-led growth adds sweetness to Nestle India; stock gains 3%

In an otherwise falling market, the stock of Nestlé India gained over 3 per cent on Monday to close at Rs 11,781 on the National Stock Exchange.

 

What supported the Rs 369.50-increase in share price, besides the special interim dividend of Rs 180 per share (announced on Friday), are strong volume-led top line growth in the June 2019 quarter (Q2CY2019) and the company’s plan to add new manufacturing capacity.  READ MORE