MARKET WRAP: Sensex ends 74 pts lower; PSBs, metals decline, Maruti up 4%
Domestic stocks defied gains in the Asian peers to slip 182 and 69 points at the Sensex and Nifty50, respectively in the intra-day trade.
12:22 PM
Market check
12:22 PM
Market check
12:18 PM
Elara Capital on Repco Home Finance
Rating: Accumulate
Target Price: Rs 390
Upside: 18%
Our concerns on Repco are, a continued subdued growth in Tamil Nadu, a late diversification outside home state followed by an aggressive growth and stickiness in NPA with inadequate provisioning. We see growth as the key to earnings revival, which we currently expect at a CAGR of 12% of FY19-21E; higher than build-in credit costs is the key risk to our already subdued earnings forecast. The recent correction provides an upside to our Target Price of Rs 390. We have an Accumulate rating on the stock.
12:17 PM
Small-cap index tanks 30% in a year. Time to buy selectively, say analysts
Absence of fiscal stimulus by the government amid a weak economy, surcharge-related issue with foreign portfolio investors (FPIs) amid other global developments has dented the overall market sentiment since the presentation of Union Budget on July 5.
The S&P BSE Sensex and the Nifty 50 have slipped around 5 per cent and 6 per cent, respectively, since then. The pain in the mid-and small-cap segments has been more pronounced with both the indices slipping nearly 8 per cent and 11 per cent, respectively, during this period. READ MORE
12:08 PM
Buzzing | Britannia Industries hit 52-week low
12:01 PM
AGC Networks hits 52-week high, zooms 80% in three days post Q1 results
Shares of AGC Networks extended their rally on Tuesday and were locked in the upper circuit band of 20 per cent for the third consecutive day at Rs 130, on the National Stock Exchange (NSE) after the company reported more than double consolidated net profit of Rs 13.6 crore in April-June quarter (Q1FY20). READ MORE
11:51 AM
Edelweiss Financial Services slips 8%
11:44 AM
Sector watch | Nifty PSU Banks' index slide, down nearly 3%
11:29 AM
NEWS ALERT | Goldiam International bags export orders worth Rs 100 cr from International clients: BSE Filing
-- Order for manufacturing of diamond studded designed gold jewellery
-- To be delivered within coming 3 months
-- To be delivered within coming 3 months
11:14 AM
NEWS ALERT | Dr. Reddy's launches Vigabatrin oral powder in the US market: BSE Filing
Alert: Vigabatrin had a US market size of about $274 m as of June 2019
11:07 AM
Vodafone Idea falls 6% as CEO Balesh Sharma resigns
Vodafone Idea shares slid 6 per cent to Rs 5.60 in early morning trade on the BSE on Tuesday after Balesh Sharma stepped down as company’s chief executive officer (CEO) with immediate effect due to personal reason. Ravindar Takkar has been appointed as managing director and CEO for period of three years. READ MORE
Balesh Sharma
11:03 AM
CG Power tanks 20% after Co recognises 'unauthorized transactions' by staff
“While working on one of its priority tasks of seeking refinancing of certain facilities and as a part of conducting financial analysis in this regard, the operations committee (Ops Committee) was made aware of some unauthorised transactions by certain employees of the company,” CG Power said in a regulatory filing while announcing fiscal results for 2018-19. READ MORE
10:50 AM
NEWS ALERT | SBI waives processing fee on car loans during festive season
--SBI offering interest rate starting from 8.7% for car loan, with no escalation in interest.
-- Concession of 25 bps on interest rate if applied for car loan via digital platform
-- Salaried individuals can avail loan up to 90% of a car's on-road price
-- Concession of 25 bps on interest rate if applied for car loan via digital platform
-- Salaried individuals can avail loan up to 90% of a car's on-road price
10:48 AM
Over 20 years after Asia debt crisis, McKinsey sees signs of a repeat
Increased indebtedness, stresses in repaying borrowing, lender vulnerabilities and shadow banking practices are some of the concerns cited by McKinsey in an August report. Whether building pressures are “enough to trigger a new crisis remains to be seen” but governments and businesses need to monitor potential causes, authors Joydeep Sengupta and Archana Seshadrinathan wrote. READ MORE
10:38 AM
Corporate tax for firms with over Rs 400 crore turnover to be cut gradually
In 2018, the then Finance Minister Arun Jaitley had cut the corporate income tax rate to 25 per cent for companies with a turnover of up to Rs 250 crore.
Speaking at an event, Sitharaman said the theme of this year Budget Ease of Living and every policy and scheme have been designed with that guiding principal in the mind. READ MORE
Topics : Markets MARKET WRAP
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First Published: Aug 20 2019 | 7:13 AM IST