Markets end at new closing high, Nifty settles above 10,650; Infosys flat
All that happened in the markets today
 "Nifty")
Source: NSE
Benchmark indices end marginally but at new closing highs on Thursday with Nifty comfortably above the 10,650 levels led by blue chips like ICICI Bank and ONGC
Investors, however, remained wary as four senior sitting judges of the complain that Supreme Court as administration of the country's top court was not in order.
Sentiment was also affected ahead of Infosys earnings later today and the federal budget next month.
Coal India rose to its highest in 10 months after the company raised prices of non-coking coal across all its units. It expects an incremental revenue of about Rs 19.56 billion ($308 million) for the rest of the current fiscal year.
Investors, however, remained wary as four senior sitting judges of the complain that Supreme Court as administration of the country's top court was not in order.
At a hurriedly called press conference at the residence of Justice J Chelameswar, the No 2 in the apex court hierarchy, they said it was with "no pleasure" that they had been compelled to make public what they were upset with.
"Hallmark of democracy is independent and fair judiciary. We tried to convince Chief Justice that things are not in order. Unfortunately, our attempts failed," said Justice Chelameswar. "It is s with no pleasure that we have been compelled to do this, administration of SC is not in order," he said. "
Sentiment was also affected ahead of Infosys earnings later today and the federal budget next month.
Globally, Asian stocks resumed their ascent on Friday, supported by US earnings optimism and a rise in oil prices while the euro edged higher as the European Central Bank signalled an end to its massive stimulus.
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Infosys Q3
Infosys retains FY18 CC revenue growth guidance of 5.5-6.5%
Infosys retains FY18 CC revenue growth guidance of 5.5-6.5%
3:45 PM![]()
Infosys Q3
Dollar revenue at $2755 million
Dollar revenue at $2755 million
3:44 PM![]()
Infosys Q3
PAT at Rs 51.29 billion
PAT at Rs 51.29 billion
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Infosys ends flat ahead of Q3 results
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Sectoral Trend
3:36 PM![]()
Sensex top gainers and losers
3:32 PM
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Markets at Close
The benchmark indices ended the day flat but at new closing highs on earnings optimism. The S&P BSE Sensex ended at 34,592, up 88 points while the broader Nifty50 index settled the day at 10,681, up 30 points
3:23 PM
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TCS bags $2 bn deal to transform Transamerica's insurance & annuities admin
Tata Consultancy Services (TCS) on Thursday announced that it has entered into an agreement with Transamerica, a leading provider of life insurance, retirement and investment solutions, to enable the transformation of administration of its US insurance and annuity business lines.
The partnership enables Transamerica to rapidly enhance its digital capabilities, simplify the service of more than 10 million policies into a single integrated modern platform, and drive greater sustainable growth opportunities through superior customer experiences. The multi-year agreement is worth more than $2 billion in revenues, and is expected to be completed by the second quarter of 2018. Read more
3:16 PM
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Logistics shares gain; Mahindra, Snowman, Future Supply hit 52-week high
Shares of logistics companies were in focus with trading higher by up to 10% in intra-day trade in otherwise range-bound market.
Mahindra Logistics, Tiger Logistics and Snowman Logistics up in the range of 8% to 9%, while Future Supply Chain Solutions, Patel Integrated Logistics, Blue Dart Express, Gati and Gateway Distriparks up between 1% and 3% on BSE. READ MORE
3:02 PM
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Budget bonanza: Govt likely to do away with dividend distribution tax
The finance ministry is likely to do away with the dividend distribution tax (DDT) in the upcoming Union Budget. Sources in the know have said there have been considerable discussions on the topic among various stakeholders.
At present, if a company gives dividend to its shareholders, it has to pay DDT of 20.36% (15% plus surcharge and cess).
Two stakeholders, who met Finance Minister Arun Jaitley and Finance Secretary Hasmukh Adhia separately for pre-Budget consultations, told Business Standard that the issue of DDT came up in the meetings that took place between industry representatives and Adhia. READ MORE
2:47 PM
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Earnings
HT Media has reported a 36.1% growth in profit at Rs 1.24 billion for October-December quarter, compared to Rs 914 million in year-ago, driven by operational performance.
HT Media has reported a 36.1% growth in profit at Rs 1.24 billion for October-December quarter, compared to Rs 914 million in year-ago, driven by operational performance.
Revenue during the quarter declined 3.8% to Rs 6.25 billion from Rs 6.49 billion YoY while operating profit jumped 21.9% to Rs 1.34 billion and margin expanded to 21.53% from 17% YoY.
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Market Check
| S&P BSE Sensex | 34,547.14 |
 | 0.13% |
| Nifty 50 | 10,658.80 |
| 0.07% |
| S&P BSE 200 | 4,749.32 |
| 0.01% |
| Nifty 500 | 9,646.10 |
 | -0.04% |
| S&P BSE Mid-Cap | 18,119.71 |
| -0.26% |
| S&P BSE Small-Cap | 19,987.86 |
| 0.02% |
2:15 PM
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JioCoin: Reliance planning own cryptocurrency, Akash Ambani to lead project
Reliance Jio is planning to create a cryptocurrency of its own called 'JioCoin', and will put together a young team of 50-odd professionals under Akash Ambani to kickstart the project, a Livemint report claims. The Ambani scion is reportedly interested in developing blockchain technology to aid the development of smart contacts and cryptocurrency payment-enabled supply chains.
1:56 PM
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Domestic pharmaceutical sales growth at eight year low, slips to 5.5%
Domestic pharmaceutical sales growth slipped to 5.5% in 2017, the lowest in last eight years as the business was impacted by GST roll out, delayed product approvals and inclusion of more products under price caps.
On an industry wide basis pharmaceutical companies recorded sales of Rs 1.16 trillion in 2017 which was 5.5% higher than the previous year. In 2016 industry wide sales grew 10.7 %to Rs 1.10 trillion, according to AIOCD-AWACS, the market research wing of All India Organisation of Chemists and Druggists (AIOCD).
Drug makers. however, are confident of revival in 2018 with launch of new products and increased market penetration though some experts believe that growth will be hinged on government policy actions. READ MORE
1:40 PM
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Equity mutual funds face 45% rise in redemptions during 2017 at Rs 1.9 trn
Redemptions at equity mutual funds (MFs) climbed in 2017 amid a sharp rally in stock prices. According to statistics provided by the Association of Mutual Funds in India (Amfi), units worth Rs 1.9 trillion of equity schemes were redeemed in 2017, an increase of 45 per cent from Rs 1.3 trillion redeemed in the preceding year.
The redemptions could be on account of a churn in portfolios by investors and also profit-taking by investors after huge appreciation seen in the market in the past four years. READ MORE
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First Published: Jan 12 2018 | 3:31 PM IST
