MARKET WRAP: Indices end flat, Sensex slips 38 pts; Airtel rebounds, up 3%
All that happened in markets today.
1:29 PM
Earnings Alert | Maruti Suzuki Q2 results
-- Net profit at Rs 1,358.6 crore
-- Revenue at Rs 16,985.3 crore
-- EBITDA at Rs 1,606.3 crore
-- Revenue at Rs 16,985.3 crore
-- EBITDA at Rs 1,606.3 crore
1:14 PM
NEWS ALERT | SCs judgment exposes incumbent telcos to DoT's demand of Rs 1.33 lakh cr for licence fee, spectrum usage charge: CNBC TV18
-- The apex court in its verdict, has prescribed new definition of adjusted gross rev
1:10 PM
Sector Watch | Telecom stocks slide on SC ruling on AGR
1:07 PM
NEWS ALERT | SC rejects telcos' definition of Adjusted Gross Revenue: CNBC TV18
-- SC holds all revenue accruing to telcos contitute AGR
-- SC says issues raised w.r.t AGR are frivilous
-- Telcos seek 6 months time to compute charges payable.
-- SC says issues raised w.r.t AGR are frivilous
-- Telcos seek 6 months time to compute charges payable.
1:06 PM
NEWS ALERT | IOC to sign JV with Saudi's Al Jeri for fuel retail business: sources to CNBC TV18
-- Saudi Aramco could also announce its interest in BPCL stake purchase during PM's visit to Saudi
Alert: PM to visit Saudi on Oct 29
Alert: PM to visit Saudi on Oct 29
12:57 PM
NEWS ALERT | FM Nirmala Sitharaman to address media at 3 pm today on EoDB: Govt official
Alert: EoDB is Ease of Doing Business
: India jumped 14 notches to 63rd position in World Bank's EoDB index released Thursday morning.
: India jumped 14 notches to 63rd position in World Bank's EoDB index released Thursday morning.
12:51 PM
NEWS ALERT | Cabinet Secy likely to hold review meeting on divestment plan on Oct 28: CNBC TV18, quoting agencies
12:50 PM
Result impact | Biocon slips 5% as PAT falls 39% YoY in Q2
12:33 PM
MARKET CHECK | Top 5 gainers on the BSE at present
12:23 PM
Earnings Alert | Bandhan Bank Q2 results
-- Net profit at Rs 971.8 crore
-- Provisions at Rs 145.5 crore
-- Gross NPA at 1.76%
-- Net NPA at 0.56%
-- NII at Rs 1,529 crore
-- Provisions at Rs 145.5 crore
-- Gross NPA at 1.76%
-- Net NPA at 0.56%
-- NII at Rs 1,529 crore
12:09 PM
Diwali Picks 2019 | Samvat 2076 recommendations by Religare Broking
Havells India
Havells is strengthening its leadership by constantly expanding its product portfolio, increasing market reach and brand positioning. We believe Havells is best placed to leverage the opportunities in the FMEG space given the strong market share and distribution network. We expect its performance to improve (vs Q1FY20) in the next few quarters led by festive demand. Moreover, Havells has strong balance sheet (low debt, low working capital), robust return ratios and healthy cash flows. We recommend a Buy with a target price of Rs 795.
Mahindra and Mahindra
Mahindra and Mahindra
M&M has witnessed sharp correction in the last one year owing to cyclical downturn in the auto industry. Going forward, we expect the tractor industry to recover as normal monsoon, easing liquidity conditions and lower interest would aid domestic sentiments. M&M’s automotive segment is likely to witness challenges due to increase in competitive intensity and BS-VI implementation. Nonetheless, we believe that these concerns are largely factored in and the core business is available at attractive valuations. Further, recently announced JV (not priced in our estimates) with Ford India would help M&M in strengthening its product portfolio, improve
operational efficiencies, and increase exports from India. Therefore, we recommend a Buy on the stock, valuing the core business at 12x and arrive at a SOTP based target price of Rs. 695.
11:53 AM
Assembly Election Results Update
11:47 AM
Shadow banking crisis claims another victim; fin stocks a drag on Sensex
Financial stocks account for nearly half the value of benchmark S&P BSE Sensex and have been among the biggest drag on the gauge since it hit a peak in June. State Bank of India has been the biggest hindrance among stocks that have had the most negative influence, according to data compiled by Bloomberg.
“Most investors would welcome the idea of sector-specific caps,” said Gaurav Sinha, associate director for asset allocation at WisdomTree Investments in New York. “It’s a way to mitigate risks.” Wisdomtree’s $1.2 billion India Earnings Fund doesn’t allocate more than 30% to any one industry, he said. READ MORE
11:35 AM
IndiGo Q2 preview | Rupee depreciation may dent EBITDAR margin
The Board of InterGlobe Aviation-led IndiGo will meet on Thursday, October 24, to report its September quarter earnings for the financial year 2019-20 (Q2FY20) amid fresh feud between promoters Rahul Bhatia and Rakesh Gangwal.
Once considered resolved, differences between the two resurfaced on October 1, when Bhatia filed litigation against Gangwal in London under the shareholders' agreement, dated April 23, 2015. Since then, the stock of India’s largest airline has slipped 8.5 per cent, as against a 1.6 per cent rise in the benchmark S&P BSE Sensex. READ MORE
11:30 AM
Market forces easing price war among Indian telecom companies: Trai chief
In one signing of easing competition, Reliance Jio Infocomm Ltd. earlier this month said it was imposing a charge on voice calls that were formerly free. The move reversed an offer that, along with cheap data packages, had accelerated a years-long competitive battle that pushed the market price for 1GB of data per month to less than a dollar. READ MORE
Topics : Markets MARKET WRAP
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First Published: Oct 24 2019 | 7:11 AM IST