Monday, January 06, 2025 | 01:51 AM ISTEN Hindi

MARKET: Sensex zooms 637 pts on possible roll-back of higher tax on FPIs

All that happened in markets today

SI Reporter New Delhi

12:26 PM

HDFC Securities on JK Cement

JK Cement (JKCE) is strengthening its grey cement business through expansions and up-gradation. In white/putty segment, its steady expansions in near duopolistic market (in India) will continue boost profits. We reiterate BUY with a higher target price of Rs 1,314 at 10x its FY21E consolidated EBITDA (implied EV of USD 96/MT). The stock trades at attractive valuations of 8.2x FY21E EBIITDA and at EV of USD 85/MT.

12:24 PM

Tata Steel slips 4%, nears three-year low on weak June quarter results

On Thursday, the company reported a higher-than-expected 64 per cent year-on- year (YoY) decline in its consolidated net profit at Rs 702 crore in April-June quarter (Q1FY20). It had registered profit of Rs 1,934 crore in the year-ago quarter. The stock was trading at its lowest level since December 27, 2016. In the past three months, it has underperformed the market by falling 30 per cent, as compared to a three per cent decline in the S&P BSE Sensex. READ MORE

12:11 PM

City Union Bank slips over 2% post Q1 results announcement

- Net profit falls 15% YoY to Rs 185.646 crore;

- Gross NPA stands at 3.34% against 2.95% QoQ;

- Net NPA at 1.89% against 1.81% QoQ;

- Provisions and contingencies increase to Rs 115.75 against Rs 90.67 crore in previous quarter

12:02 PM

NEWS ALERT | Expect heavy rains for next 2-3 days in Gujarat, Konkan, MP, Maha, Rajasthan: Met Dept

-- Monsoon will see reduction from Aug 10 in central India, rains to continue in north India: Met Dept

-- Monsoon to get reactivated from August 20: Met Dept

11:46 AM

Tata Motors climbs over 2%

11:31 AM

RBI rate cut only good for short-duration bonds as hopes of big cuts fade

India's short-duration bonds are set to outperform as traders temper their enthusiasm on the size of future rate cuts. Yields on shorter notes dropped for a second day after the Reserve Bank of India delivered a larger-than-expected cut Wednesday, while those on the longer-maturity bonds held gains as Governor Shaktikanta Das said further easing would depend on incoming economic data. READ MORE

11:26 AM

NEWS ALERT | PM Modi to address the nation at 4 PM on Article 370 revocation: CNBC TV18

11:22 AM

Lemon Tree Hotels down 6% after reporting loss in Q1

11:13 AM

NEWS ALERT | Finance Minister to meet India inc on slowdown concerns: CNBC TV18

-- FM's meet with IndIa Inc includes TV Narendran, Sanjiv Puri, Dilip Sanghvi, Sajjan Jindal, Ajay Piramal, Sangeeta Reddy, Sandeep Somany

11:10 AM

Affle (India) slides an hour after listing

11:07 AM

PNB, IDBI, Bank of India: 3 stocks that can dip 10% from the current level

Springing a surprise, the Reserve Bank of India (RBI) on Wednesday reduced the repo rate by 35 basis points (bps) to 5.5 per cent to spur economic growth. However, the move failed to cheer investors as the central bank lowered the GDP growth forecast for the financial year 2019-20 (FY20) to 6.9 per cent from 7 per cent projected earlier. READ MORE