MARKET WRAP: Sensex snaps 6-day losing streak, up 52 pts; autos lead rally

In the broader market, S&P BSE MidCap ended 73 points, or 0.53 per cent, higher at 13,856 levels while the S&P BSE SmallCap closed 29 points, or 0.22 per cent, higher at 13,060 levels.

10:56 AM

Outlook on Bajaj Finance by ICICI Securities

Asset quality may see further deterioration. Hence, we increase our provisions estimate for FY20-21E and reduce our PAT estimates lower for FY20-21E by 5-7 per cent. We maintain our P/ABV multiple at 5.2x and P/E multiple to 26x. We maintain REDUCE with a target price of Rs 2,900 (earlier Rs 3,300). Continuity of high margins in the current environment along with market share in high yielding-low risk consumer segment remain risks to our call.

10:50 AM

Bajaj Finance off day's lows, gains over 4%

10:49 AM

NEWS ALERT | GST Council meeting to take place on Saturday

-- The meeting, which was scheduled for yesterday, was push ahead due to the on-going Parliament session

10:47 AM

NBCC, PNB, HEG: One-third of Nifty500 stocks trade in oversold territory

The markets have seen a steady fall since the presentation of the Union Budget on July 5, with the S&P BSE Sensex and Nifty50 slipping over 5 per cent each. The bearish sentiment has seen significant support levels getting broken. Neither the advance/decline nor stock price are showing any signs of recovery. READ MORE

10:42 AM

Tata Motors hits over 7-year low on weak Q1 results; recovers later

Tata Motors shares hit an over seven-year low of Rs 138 per share, slipping 4 per cent on the BSE in Friday's early morning deal, after the company’s consolidated net loss nearly doubled at Rs 3,680 crore in the June quarter of 2019-20 (Q1FY20) on Jaguar Land Rover (JLR) woes and a slowdown in the automobile industry in India. The commercial vehicle major had posted a loss of Rs 1,863 crore in year-ago quarter. READ MORE

10:34 AM

PNB Q1 results preview: Here's what leading brokerages expect

Punjab National Bank (PNB) is scheduled to report its April-June quarter numbers for the fiscal year 2019-20 (Q1FY20) today amid expectations of a subdued performance. Most analysts expect the bank to report loss in the recently-concluded quarter coupled with a fall in the net interest income (NII). Asset quality, however, is likely to see an improvement, they say. READ FULL PREVIEW HERE

10:30 AM

Nifty Auto index gains

10:19 AM

YES Bank gains on reports of talk with TPG, Advent International over capital infusion

10:09 AM

NEWS ALERT | AMCs met lenders for DHFL resolution: CNBC TV18

-- AMCs exploring legal route

-- AMCS may not be able to wind up DHFL under Companies Act

10:05 AM

M&M trades over 2% higher

-- Snaps 10-day losing streak; bounces from 3.5 year low

9:59 AM

MARKET CHECK

9:57 AM

NIIT Tech dips over 5%

9:54 AM

Buzzing | Suzlon Energy gains over 10%

9:53 AM

PVR Ltd down over 5% after Q1 profit plunges 69%

9:52 AM

NEWS ALERT | 0.9% equity exchanged in Vodafone Idea: CNBC TV18