MARKET WRAP: Sensex falls 241 pts; banks, FMCG, IT stocks among top losers

All that happened in markets today

11:10 AM

Shares of Coal India trading over 1.5% ahead of Q3 earnings

11:06 AM

Top losers on BSE500

COMPANY	PRICE(rupees)	CHG(rupees)	CHG(%)	VOLUME
G N F C	274.05	-34.15	-11.08	215633
GRAPHITE INDIA	407.45	-28.55	-6.55	209370
INDRAPRASTHA GAS	260.05	-13.85	-5.06	121211
GALAXY SURFACT.	971.40	-50.05	-4.90	979
T N NEWSPRINT	193.50	-9.40	-4.63	797

11:00 AM

Gujarat Narmada Valley Fertilizers and Chemicals tanks 12% on weak Q3 nos

Shares of Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) tanked 12 per cent to Rs 271 on BSE on Tuesday as the company posted 27 per cent year-on-year (YoY) decline in net profit at Rs 166 crore in December 2018 quarter (Q3FY19). The fertilizers company had reported a profit of Rs 228 crore in a year-ago quarter. The stock trading at its 52-week low, was down 25 per cent in the past one month, as compared to a 1 per cent rise in the S&P BSE Sensex. READ MORE

 

10:44 AM

Energizer, Duracell eye stake in Eveready India

US battery makers Energizer Holdings Inc and Duracell International are eyeing a controlling stake in Eveready Industries India Ltd, the Economic Times reported on Tuesday, citing people involved in the negotiations. READ MORE

10:33 AM

Reliance General Insurance files for IPO

India's Reliance General Insurance Co Ltd has filed for an initial public offering (IPO) consisting of a fresh issue of shares worth up to 2 billion rupees ($28.15 million), parent Reliance Capital Ltd said on Tuesday. The IPO will also include an offer by Reliance Capital to sell up to 79.5 million shares, Reliance Capital said. READ MORE

10:16 AM

Shares of Reliance Capital are trading around 4% lower

10:14 AM

PI Industries surges 9% on strong December quarter results

Shares of PI Industries surged 9 per cent to Rs 914 per share on the BSE in early trade on Tuesday, after the company reported strong growth of 33 per cent in net profit at Rs 107 crore in December 2018 quarter (Q3FY19). The agrochemicals company had a profit of Rs 81 crore in the year-ago quarter. Revenues during the quarter under review grew 32 per cent at Rs 708 crore against Rs 538 crore in the corresponding quarter of previous fiscal. READ MORE

10:03 AM

ICICI Securities on DLF

We retain our BUY rating with an unchanged target price of Rs280/share based on 1x FY19E NAV. As we have highlighted earlier, with the shift to the project completion method under INDAS 115 from Q1FY19, DLF is rebooking revenues and profits as projects complete and hence the income statement analysis is irrelevant and investors should focus on underlying cash flows of the different business verticals.

9:59 AM

Market check

9:58 AM

Airline stocks are trading lower on the back of rise in crude prices

9:49 AM

Nifty IT index is trading lower

9:36 AM

Sebi cloud on Etihad open offer waiver for Jet Airways shareholders

The Securities and Exchange Board of India (Sebi) has expressed reservations over granting exemption to Etihad Airways in connection with an open offer to the minority shareholders of Jet Airways, sources in the know said. Exemption for making an open offer was among the key conditions set by Etihad to offer a lifeline to the debt-laden domestic carrier. READ MORE

9:20 AM

Derivative insights :: Geojit Financial Services

Nifty index futures closed 47.65 points lower at 10,909.60 on Monday. Open interest increased by 7.82 lakh contracts and the total open interest at the end of the day was 2.17 crore contracts. The premium rose to 20.80 from previous day's close of 13.65. Nifty PCR OI moved lower to 1.47 from 1.58 meanwhile nifty put option open interest rose by 3.18% whereas nifty call option open interest rose by 11.27%. India VIX closed higher at 15.84 from previous day's close of 15.56.

9:18 AM

Sectoral trend on NSE

9:17 AM

Opening gainers and losers on S&P BSE Sensex