RIL, financials drag indices; Sensex tanks 667 pts, Nifty settles at 10,900

All that happened in the markets today

12:14 PM

UPDATE:: HPCL trades 2.6% higher

12:14 PM

NEWS ALERT :: RBI board to meet on August 14 to mull a dividend to Govt

>> Reports earlier suggested RBI could transfer Rs 60,000 crore dividend to the govt

(As reported by CNBC TV18)

12:10 PM

June Quarter Result :: Bank of India reports profit of Rs 843.6 crore

>> NII is at Rs 3,481 crore

>> Gross NPA at 13.91% from 14.48% QoQ

>> Net NPA at 3.55% from 3.88% QoQ

>> Provision at Rs 1,512 crore

12:05 PM

BROKERAGE VIEW:: Edelweiss Securities on Mahindra Holidays

Mahindra Holidays & Resorts (MHRL) saw Covid-19 affect its performance with standalone/HCR revenues down 29%/66% YoY. Even member additions were weak with only 1,270 members added, down ~70% YoY. That said, sharp cost control on the standalone business helped MHRL clock PAT growth but HCR’s losses expanded. Though the situation is improving gradually, given MHRL’s core product/business falls under discretionary consumption, we believe it would take the longest to recover and that a major impact of Covid-19 will continue to be seen over the coming quarters. Hence, we continue to maintain ‘HOLD’ with a TP of Rs 144.

11:58 AM

Future Lifestyle Fashions hits 5% lower circuit on Q4 net loss of Rs 149 cr

While its total income rose 4.47 per cent year-on-year (YoY) to Rs 1,442.96 crore during the quarter under review, from Rs 1,381.19 crore in the year-ago quarter, itss total expenses jumped 17.14 per cent YoY to Rs 1,579.55 crore in Q4FY20 as compared to Rs 1,348.39 crore. READ MORE

11:49 AM

NEWS ALERT :: Suzuki Plc says can’t provide guidance for FY21 as Covid-19 pandemic is spreading in co’s major market of India

(as reported by CNBC TV18)

11:44 AM

Tata Chemicals shares slip 4% after Q1 net profit declines 67% YoY

Shares of Tata Chemicals fell as much as 4 per cent to Rs 293.05 apiece on the BSE on Monday after the company posted a 67.23 per cent drop in its consolidated net profit at Rs 74.15 crore for the June quarter due to poor sales. It had posted a net profit of Rs 226.33 crore in the year-ago quarter. READ MORE 

11:40 AM

Auto stocks gain ground

COMPANY	LATEST (rs)	CHG(%)
TATA MOTORS	109.85	4.92
ASHOK LEYLAND	49.80	2.36
TATA MOTORS-DVR	38.80	3.60
M & M	607.85	0.22
TVS MOTOR CO.	392.95	1.29

11:30 AM

Index watch

INDEX	LATEST	CHANGE	CHANGE(%)
	37203.52	-403.37	-1.07
	14275.55	-70.63	-0.49
	13822.68	63.57	0.46
	13152.33	130.57	1.00
	4220.85	-34.80	-0.82

11:21 AM

Vakrangee freezes at 5% upper circuit as Q4 profit grows 4-fold YoY

The specialty retail's revenue from operations stood at Rs 207.39 crore in Q4FY20, as against Rs 101.46 crore for the corresponding quarter last year, registering a growth of 104.32 per cent. Besides, its EBITDA (earnings before interest, tax, depreciation, and amortisation) clocked a 69.87 per cent growth to Rs 31.63 crore compared to Rs 18.62 crore for the corresponding quarter last year. READ MORE

11:11 AM

Auto stocks advance post encouraging July sales numbers; pare gains later

Among individual stocks, Tata Motors was trading nearly 4 per cent higher at Rs 108.7 and was the top gainer on the S&P BSE Auto index. Next on the list were Amara Raja Batteries, Ashok Leyland, Eicher Motors, and Motherson Sumi. Maruti shares advanced as much as 2.76 per cent to Rs 6,433.85 during the day. However, at the time of writing of this report, the stock was trading over 0.4 per cent lower at Rs 6,234.20. READ MORE 

10:58 AM

Bandhan Bank to IDBI Bank: 5 bank stocks that investors are betting on

Apart from being mid-cap banking stocks, the common link between Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank is that they have undergone a sea change in the past two years. While for IDBI Bank and IDFC First, their new managements have forced them to course correct, in the case of CSB, the need to reinvent may have been for existential reasons. READ MORE

10:48 AM

Indian Oil slips 3% as June quarter profit declines 47% YoY to Rs 1,911 cr

"The company's sales during the month of April 2020 were impacted significantly by the nationwide lockdown and consequently capacity utilization of the plants was lower. However, the same has come back close to normal levels by the month of June 2020," it said. READ MORE

10:36 AM

Tata Motors rallies 8% after June quarter nos

Shares of Tata Motors rallied over 8 per cent on the BSE on Monday after the company on Friday released its June quarter numbers for the fiscal year 2020-21 (Q1FY21). Analysts at Citi believe there are multiple drivers for JLR’s volume improvement, which should boost profits, due to operating leverage. It has a "BUY" rating on the stock with the target price of Rs 155.  READ MORE

10:34 AM

ALERT | IHS Markit India Manufacturing PMI

At 46.0 in July, the seasonally adjusted IHS Markit India Manufacturing PMI fell from 47.2 in June, and pointed to a marked deterioration in business conditions across the Indian manufacturing sector.

 

The downturn was partially driven by a further contraction in output. Although far softer than recorded in April and May, the rate of reduction accelerated from June and was sharp overall. Anecdotal evidence indicated that firms pared back production in line with weaker demand conditions.