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

All that happened in the markets today

9:29 AM

IndusInd Bank trades around 3% lower

9:26 AM

BUZZING STOCK:: Tata Motors up 5.5% after June quarter nos

9:24 AM

BLOCK DEAL:: Bandhan Bank slips nearly 9% after 20.57% equity changes hands

9:22 AM

SECTOR WATCH:: Nifty Auto trades over 1.6% higher

9:21 AM

Top gainers and losers on the S&P BSE Sensex

9:18 AM

OPENING BELL

At 09:16 am, the S&P BSE Sensex was trading 205 points or 0.55 per cent lower at 37,402 while NSE's Nifty was quoting 63 points or 0.57 per cent lower at 11,010 levels.

9:12 AM

July Auto Sales :: Bajaj Auto sales decline 33% YoY

9:06 AM

Commodity heatmap :: Gold hits fresh record high on MCX

9:01 AM

BROKERAGE VIEW :: Nomura on SBI

Maintains 'Buy', Target price: Rs 230

>> Strong operational performance 

>> Banks should be able to navigate current cycle well

>> Overall, core PPoP/Asset and a weak capital position are a concern

>> Current valuation look undemanding despite weak RoE trajectory 

8:56 AM

BROKERAGE VIEW :: Morgan Stanley on SBI

Maintains 'Equal Weight', Target price: Rs 215

>> Good Q1 on better-than-expected margin, higher deposits, low moratorium

>> Macro climate is tough and will weigh on margin, asset quality in H2

>> Raise FY21/22/23 EPS estimates by 10%/5%/5%

8:54 AM

BROKERAGE VIEW :: CLSA on Tata Motors

Upgrades to 'Buy', Target price: Rs 135

>> Q1 beat driven by aggressive cost reduction measure

>> Both JLR and India surprised on EBITDA and FCF despite volume decline

>> Management has guided for positive FCF in Q2-Q4FY21 and FY22

>> Raise FY21-22 EBITDA forecast by 4-6%, FCF forecast from Rs 3000 cr to Rs 4000 cr

8:49 AM

BROKERAGE VIEW :: Morgan Stanley on JSPL

Maintains 'Overweight', Target price: Rs 215

>> Guali Mine would help company in securing captive supply

>> High bid premium will lead to material increase in iron ore cost

>> We believe company will reduce logistics costs

8:46 AM

BROKERAGE VIEW :: CLSA on telecom sector

>> ARPU to rise to Rs 200 in coming quarters

>> After Q1FY21, Bharti Airtel has fully provided for AGR dues

>> Jio underlined its $20 billion fund raising, besides its digital services ramp-up

>> Bharti Infratel-IndusTower merger looks inevitable

>> Positive on Airtel, Jio, Bharti Infratel

>> Voda Idea will lose share but ARPU will rise

8:41 AM

BROKERAGE VIEW :: CLSA on Sun Pharma

Maintains 'Buy', Target price: Rs 660

>> Remain confident of specialty product ramp-up

>> Adjusted profit ahead of estimate due to strong core profitability

>> US lockdown affected specialty sales

8:37 AM

BROKERAGE VIEW :: CLSA on Indian Oil

Maintains 'Sell', Target price: Rs 65

>> Standalone profit missed estimates by 59%

>> Core refining margin slumped to record low of (-)$8.3/bbl

>> Inventory gains helped EBITDA stay in the green

>> Weal global oil demand keeps its refining outlook subdued