MARKET WRAP: Sensex ends 209 pts up, Nifty at 10,843 post Trump-Kim meeting
Among sectoral indices, the Nifty Pharma index ended over 2.5% higher led by a rise in the shares of Lupin, Dr. Reddy's Laboratories and Glenmark Pharmaceuticals.
 "MARKETS LIVE: Indices edge higher amid historic Trump-Kim summit")
11:18 AM
Trump-Kim meet
Letter with North Korea is very comprehensive. A lot of goodwill went into this: US President
Letter with North Korea is very comprehensive. A lot of goodwill went into this: US President
11:18 AM
Trump-Kim meet
Relationship with North Korea will be very different: US President
Relationship with North Korea will be very different: US President
11:16 AM
Have developed a very special bond with Kim: US President
Trump-Kim meet
Have developed a very special bond with Kim: US President
11:16 AM
Trump-Kim meet
It's going to be a much different situation than in the past: US President
11:15 AM
Trump-Kim meet
Expect to start denuclearisation process very soon: US President
Expect to start denuclearisation process very soon: US President
11:12 AM
Trump-Kim meet
We have decided to leave the past behind: Kim Jong Un
We have decided to leave the past behind: Kim Jong Un
11:11 AM
Trump-Kim meet
We are signing a very important document: Trump
We are signing a very important document: Trump
11:00 AM
Strong truck sales to speed up Wabco India's prospects
With the momentum in volume growth of medium and heavy commercial vehicles (M&HCV) continuing its uptrend, one of the key beneficiaries is auto components supplier Wabco India. The company, which gets most of its revenues from the commercial vehicles segment, has multiple levels of growth, including exports to its parent, and introduction of new products. READ MORE
10:41 AM
MARKET CHECK
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 35,649.47 | +166.00 | +0.47 |
| S&P BSE SENSEX 50 | 11,338.97 | +50.35 | +0.45 |
| S&P BSE SENSEX Next 50 | 33,109.09 | +99.66 | +0.30 |
| S&P BSE 100 | 11,142.94 | +47.13 | +0.42 |
| S&P BSE Bharat 22 Index | 3,544.86 | +20.30 | +0.58 |
10:41 AM
UPDATE Trump says Singapore meet with Kim 'really fantastic', progress made
United States President Donald Trump on Tuesday said his one-on-one meeting with North Korean leader Kim Jong-un was "very, very good" and they have an "excellent relationship", according to media reports. READ MORE
United States President Donald Trump on Tuesday said his one-on-one meeting with North Korean leader Kim Jong-un was "very, very good" and they have an "excellent relationship", according to media reports. READ MORE
10:29 AM
Sector Watch: Automobiles
Q4FY18 performance for most companies in the Auto and Auto Ancillary sectors somewhat missed our expectations. Despite OEMs across segments registering strong volume growth (particularly the M&HCV segment, even with the high base of last year), margins slightly disappointed owing to commodity inflationary pressures. Delay in the pass-through of commodity price rise hampered the margin performance of Ancillaries.
While margin pressure for companies is expected to continue over the near term, growth drivers like predictions of normal monsoon, pick up in infrastructure activities and rural demand scenario looking up, provide optimism for robust volume growth to prevail over the current fiscal. Given the aforesaid factors, our preferred picks are M&M, Tata Motors and Ashok Leyland. Also, we remain positive on Maruti Suzuki and Motherson Sumi from a longer-term perspective
(Source: Prabhudas Lilladher report)
Q4FY18 performance for most companies in the Auto and Auto Ancillary sectors somewhat missed our expectations. Despite OEMs across segments registering strong volume growth (particularly the M&HCV segment, even with the high base of last year), margins slightly disappointed owing to commodity inflationary pressures. Delay in the pass-through of commodity price rise hampered the margin performance of Ancillaries.
While margin pressure for companies is expected to continue over the near term, growth drivers like predictions of normal monsoon, pick up in infrastructure activities and rural demand scenario looking up, provide optimism for robust volume growth to prevail over the current fiscal. Given the aforesaid factors, our preferred picks are M&M, Tata Motors and Ashok Leyland. Also, we remain positive on Maruti Suzuki and Motherson Sumi from a longer-term perspective
(Source: Prabhudas Lilladher report)
SUVs waiting to be exported from Lianyungang port in China. Photo: Reuters
10:27 AM
SECTOR RESEARCH: Chemical sector – Caustic soda: Healthy earnings in medium term
Chlor-alkali, comprised of Caustic Soda, Chlorine and Soda Ash, has witnessed a consumption spurt from the end user industry including alumina, viscose, soap and detergents, pulp and paper and textile processing. Caustic soda has witnessed additional demand from housing segment-led high Chlorine consumption in the PVC industry.
The overall rise in local and global demand, coupled with the closure of legacy Chlor-alkali units across the globe, has tilted the demand-supply curve in favor of producers boosting caustic soda prices, from US$488/MT in April’17 to US$635/MT in March’18. To bridge this supply gap, India manufacturers undertook brownfield expansions in FY18, and are now adding greenfield capacities expected to be commissioned by FY19 end. We believe mid-term revenue and profitability for Chlor-alkali manufacturers would remain robust led by additional capacities, improved demand and higher caustic soda prices.
(Source: IIFL report)
The overall rise in local and global demand, coupled with the closure of legacy Chlor-alkali units across the globe, has tilted the demand-supply curve in favor of producers boosting caustic soda prices, from US$488/MT in April’17 to US$635/MT in March’18. To bridge this supply gap, India manufacturers undertook brownfield expansions in FY18, and are now adding greenfield capacities expected to be commissioned by FY19 end. We believe mid-term revenue and profitability for Chlor-alkali manufacturers would remain robust led by additional capacities, improved demand and higher caustic soda prices.
(Source: IIFL report)
10:25 AM
Infosys gets nod to delist from Euronext Paris and London exchanges
IT major Infosys on Monday said its proposal for voluntary delisting of its American Depositary Shares (ADSs) from Euronext's Paris and London exchanges has been approved by the Board of Directors of the two bourses.
In March this year, Infosys had announced its intention to delist the ADSs on account of the "low average daily trading volume of Infosys ADS on these exchanges, which is not commensurate with the related administrative requirements". READ MORE HERE
10:20 AM
STOCK ALERT Usha Martin hits 52-week high as board approves sale of steel business
Shares of Usha Martin hit a 52-week high of Rs 33 per share, up 12% on the BSE after the company announced on Monday that its board has decided to explore the sale of its steel business.
“The board of directors of the company decided to explore the sale of its steel business in order to achieve the objective of deleveraging the company,” Usha Martin said in a regulatory filing on Monday after the market hours. READ MORE HERE
10:20 AM
ALERT Kim-Trump Meet
"We are going for signing right now; Meeting went better than anyone could have expected. Will be making announcement shortly," says US President Donald Trump.
"We are going for signing right now; Meeting went better than anyone could have expected. Will be making announcement shortly," says US President Donald Trump.
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First Published: Jun 12 2018 | 3:30 PM IST
