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Thursday, December 26, 2024 | 07:09 PM ISTEN Hindi

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MARKET WRAP: Sensex ends at new closing high of 40,469.78; pvt banks rally

All that happened in markets today.

Image SI Reporter New Delhi
Ongoing bull market phase 'longest and slowest', says Morgan Stanley

11:42 AM

Infosys Concall | Have letter addressed to SEC, but we do not have any of those attachments: Nilekani

-- Letter to SEC purportedly has some attachments
11:39 AM

Market check | Sensex pares losses

11:34 AM

Infosys Concall | Digital disruption is fundamentally changing every industry: Nandan Nilekani

-- Navigating disruption is a priority for every enterprise

-- Our revenue growth averages 11.4% in CC terms over the last 4 quarters
11:31 AM

Infosys Concall | Will give credit to CEO Salil Parekh for Co's growth: Nilekani

-- Circular issued by Indian stock exchanges in 2018 insinuated cos to disseminate information when it becomes 'credible & concrete'

-- Will not comment on the merits of the allegation at this time

-- On October 18 (2 days before the complaint was leaked), Chair of audit committee decided to hire outside party to investigate complaints

-- We became aware of complaint on September 30 and it was placed before audit co on October 10

-- Audit committee serves as custodian of whistle blower process. It's necessary to conduct investigation & take action in accordance with the law
11:29 AM

Infosys Concall

-- Management says, Co follows highest standards of corporate governance

-- Will provide summary of investigation once it is complete
11:15 AM

SRF rallies 5%, hits new high post strong Q2 results, capex plan

Shares of SRF hit a new high of Rs 3,094, rallying 5 per cent on the BSE on Wednesday, after the company reported a strong operational performance with margin improvement of 230 bps in the September quarter (Q2FY20), led by the chemical business and operating leverage. The company has also announced three capex programmes. The stock surpassed its previous high of Rs 3,090 touched on August 26, 2019 in the intra-day trade. READ MORE

11:13 AM

NEWS ALERT | Shilpa Medicare gets US FDA nod for Erlotinib tablets: NSE filing

-- Approval for its ANDA, Erlotinib Tablets, 25 mg, 100 mg, and 150 mg 

Alert: Tablets used in the treatment of patients with metastatic non-small cell lung cancer (NSCLC) and locally advanced, unresectable or metastatic pancreatic cancer
11:09 AM

NEWS ALERT | Speculations are appalling & seem to be aimed at tarnishing image: Nandan Nilekani, Ch'man, Infy

-- Speculations aimed at tarnishing the image of some of the most accomplished and respected individuals, says Nilekani

-- Infosys strongly condemns the mischievous insinuations made by anonymous sources against the cofounders and former colleagues, suggesting their involvement in the recent whistleblower allegations, Co said in a statement.

-- the Audit Committee has appointed an external law firm to conduct an independent investigation into the allegations made in the complaints. We will share the outcome of the investigation at the relevant time with all stakeholders.
10:51 AM

NEWS ALERT | JP Infra case:: SC allows NBCC, Suraksha Realty to make fresh bids before IRP: CNBC TV18

-- To submit bids in 45 days; & next 45 day for IRP to process the fresh bids

-- Total 90-day extension allowed under extraordinary power of the SC under Article 142. SC has clarified that this case should not set a precedent

-- Supreme Court reiterates that parent JP Associates cannot bid for JP Infra
10:50 AM

Buzzing | SPARC gains over 7%

10:34 AM

Sobha, Indiabulls Real Estate gain up to 5% as FM hints at booster dose

Realty stocks including Indiabulls Real Estate, Sobha, and Prestige Estate Projects gained up to 5 per cent in the morning deals on Wednesday after Finance Minister Nirmala Sitharaman said the Centre is working with the Reserve Bank of India (RBI) towards tweaking the existing laws to make them conducive for the real estate sector. READ MORE

10:20 AM

NEWS ALERT | Govt will address concerns w.r.t new FEMA rules in consultation with the regulator: Govt official to CNBC TV18

10:13 AM

NEWS ALERT | Sebi disposes off adjudication proceedings against PC Jeweller: CNBC TV18

-- Regulator accepts penalty amount of Rs 19.1 lakh in relation to the share buyback

10:07 AM

Titan plunges 10% on disappointing Q2 nos, cut in H2FY20 revenue guidance

On a standalone basis, Tata Group's jewellery and watch company's operating revenue stood at Rs 4,435 crore and remained almost flat compared to Rs 4,407 crore in the year-ago quarter. Revenue growth during the quarter was lowest in the past 12 quarters. Earlier, in Q2FY17, the company had reported a negative growth of 2 per cent in net sales. READ MORE 
9:48 AM

BROKERAGE RADAR | Centrum Broking on JK Lakshmi Cement

We have marginally upward revised our FY20 earnings and retained our FY21 earnings estimates at Rs 17.9. We value JKLC at a replacement cost of nearly Rs 4.0 billion/mt (~50% discount to Rs 7.5 billion/mt) to arrive at a fair value of Rs 281 (earlier Rs 281). At our target price, the stock trades at an EV/EBITDA of 8.0x FY21 earnings. We continue with our ‘SELL’ rating on the stock.

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First Published: Nov 06 2019 | 7:16 AM IST