Thank you readers, before I sign out here are today's major highlights from the markets##Thank you readers, before I sign out here are today's major highlights from the markets
Thank you readers for staying with CNBCTV18.com's market blog. Before I sign out, here's a quick wrap up of major higlights from the closing.
-Market Closes In The Green But Off Highs
-Sensex and Nifty Slip 1 percent each From Intra-day Highs; ITC & TCS Top Losers
-Essar Steel Verdict Helps Nifty Bank Outperform Frontliners, Index Up 250 points
-SBI Contributes Over 50 percent To Nifty Bank Gains
-Nifty PSU Bank Gains The Most Amongst Indices; All Constituents Close In The Green
-Midcap Index Slips 80 Points From Highs To End With Minor Gains Of 23 Points
-Bharti Airtel Up 9 percent and Vodafone Idea 27 percent On reports Of ‘Floor Price’ On Tariffs
-For The Week, Sensex and Nifty Close Flat, Midcap Index Up 0.5 percent & Nifty Bank Up 1 percent
Closing Bell: Sensex, Nifty end with modest gains as IT, auto stocks weigh##Closing Bell: Sensex, Nifty end with modest gains as IT, auto stocks weigh
The BSE Sensex ended 70 points up, or 0.17 percent, to settle Friday's trade at 40,356 at close. The NSE Nifty50 also added 23 points, or 0.20 percent, to trade at 11,895. The Nifty MidCap 100 index slightly outperformed, rising 0.31 percent, while the banking gauge, Nifty Bank surged 0.84 percent. Among top gainers, Bharti Infratel and Bharti Airtel rose 9.71 and 9.24, respectively. SBI, ZEEL and Grasim were other major gainers, rising between 3 and 6 percent. Among losers, Indian Oil Corp, Hero MotoCorp, BPCL, Maruti Suzuki and Vedanta were top losers, falling by up to 4 percent.
Brokerages remain positive on Bharti Airtel despite record Q2 loss; stock rises 9%##Brokerages remain positive on Bharti Airtel despite record Q2 loss; stock rises 9%
Bharti Airtel, the country's second-largest telecom company, on Thursday, reported record loss of Rs 23,044.9 crore for the second quarter ended September 2019. In the corresponding quarter last year, the company posted a net profit of Rs 119 crore. The stock rose as much as 9 percent intraday to Rs 395.45 as brokerages remained positive on the stock despite weak results. while UBS and Citi maintained a 'buy' rating on the stock, Credit Suisse raised its target price for the stock. Meanwhile, Morgan Stanley was 'equal-weight' on the stock. READ MORE
PC Jeweller falls as Q2 consolidated PAT down 51% on year##PC Jeweller falls as Q2 consolidated PAT down 51% on year
Shares of PC Jeweller fell over 5 percent as the company reported a 51.2 percent on-year plunge in its consolidated net profit for the September quarter to Rs 46.38 crore, as consumer demand was weak due to a sharp surge in gold prices. During July-September, the company's revenue from operations declined 29.6 percent on year to Rs 1212 crore, as slowing economy, liquidity crunch and excessive monsoon in some states weighed on demand.
Relief for telecom likely as government mulls minimum price for calls, data##Relief for telecom likely as government mulls minimum price for calls, data
In a move that could launch the revival of India's long-suffering telecom sector, the committee of secretaries (CoS) is mulling setting a minimum price for mobile calls and data, sources told CNBC-TV18. Sources have confirmed the committee has sought recommendations from Department of Telecom (DoT) on setting a minimum charge for all tariffs for telecom players and also assessing the impact it will have on telecom operators. READ MORE
Vodafone Idea surges 27% on reports of CoS panel mulling floor price on data, voice tariffs##Vodafone Idea surges 27% on reports of CoS panel mulling floor price on data, voice tariffs
Balkrishna Industries rises 6% as Q2 PAT beats estimate##Balkrishna Industries rises 6% as Q2 PAT beats estimate
Shares of Balkrishna Industries rose over 6 percent as the company reported a 31 percent on-year jump in its net profit for the September quarter to Rs 290 crore, beating analysts' estimate of Rs 190 crore profit. During Q2, the company's operating margin contracted marginally to 24.97 percent from 25.1 percent a year ago, though it was higher than market expectations of 24.3 percent. The company's revenue from operations fell 19 percent in the quarter to Rs 1070 crore as demand took a hit due to changing environmental policies in Europe and unfavourable macroeconomic situation globally.
Government to submit probe report on Indiabulls by November 29##Government to submit probe report on Indiabulls by November 29
The government is confident of wrapping up the on-going probe against Indiabulls before November 29, which is also the next date of hearing for the case in the Delhi High Court.
According to government sources, "Ministry of Corporate Affairs' (MCA) regional director of North Region is currently inspecting the matter as the government has received various complaints against the Indiabulls Group of companies. The report will be ready before November 29."
Read more on this article here.
BSE Telecom index jumps 8% over reports of government panel mulling floor price for calls, data##BSE Telecom index jumps 8% over reports of government panel mulling floor price for calls, data
In a move that could launch the revival of India's long-suffering telecom sector, the committee of secretaries (CoS) is mulling setting a minimum price for mobile calls and data, sources told CNBC-TV18.
Sources have confirmed the committee has sought recommendations from the Department of Telecom (DoT) on setting a minimum charge for all tariffs for telecom players and also assessing the impact it will have on telecom operators. Read more on this article here.
Rajiv Bajaj says festive season provided relief, but no sign of easing in slowdown##Rajiv Bajaj says festive season provided relief, but no sign of easing in slowdown
There is absolutely no sign that the slowdown in the auto industry eased from what it was before the festive season, said Rajiv Bajaj, managing director of Bajaj Auto. However, he said it is too early to judge in just 15 days. “November sales are quite slow. As compared to normal sales, not festive sales, November sales are, in recent days, at half that level. It is not unexpected," said Bajaj. READ MORE
Diesel demand has fallen 7.4% YoY in October##Diesel demand has fallen 7.4% YoY in October
HDFC Bank follows Reliance Industries, TCS to cross Rs 7 lakh crore market cap##HDFC Bank follows Reliance Industries, TCS to cross Rs 7 lakh crore market cap
India's largest private sector bank HDFC Bank on Friday surpassed Rs 7 lakh crore in market capitalisation for the first time. HDFC Bank is only the third Indian company after Tata Consultancy Services (TCS) and Reliance Industries (RIL) to reach this milestone. The private lender on Friday touched Rs 7,00,252.30 crore market capitalisation, a metric used to evaluate the size of a company. READ MORE
Currency | Price | Change | %Change |
---|