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Economic Times | 13 Jul, 2020 | 08.29AM IST

Traders' Diary: Nifty must hold above 10,700 to rise to 11,000

Only eight of 30 Sensex stocks ended in the green with RIL as top gainer.

!1 New UpdateClick here for latest updates
09:43 PM

Top 5 private banks stare at NPAs doubling to 5% in FY21

These five banks -- HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and IndusInd Bank -- collectively control a quarter of the system and three-fourths of the private banking space, according to a report by India Ratings on Friday.
09:13 PM

SAIL Q4 results: Steelmaker reports net profit of Rs 2,022 crore

SAIL has earned a net profit of Rs 2,021.54 crore in FY’20 on a turnover of Rs 61,024.88 crore. The net profit for the year was a shade below the previous year's figure of Rs 2179 crore. The company also reported a Profit Before Tax (PBT) of Rs 3,170.66 crore in spite of the challenging market conditions including the onset of the coronavirus pandemic, an official statement said.
08:26 PM

Vodafone Idea makes full payments of maturing NCDs to fund houses

A majority of this was due to Franklin Templeton Mutual Fund’s six schemes, which are being wound up. These schemes collectively received Rs 1,252.88 crore from Vodafone Idea, the fund house said in a note.
07:57 PM

Rossari Biotech raises Rs 148.87 cr from anchor investors; top 3 MFs key investors

The three fund houses – SBI Mutual Fund, HDFC Mutual Fund and ICICI Mutual Fund, invested Rs 14 crore each in their various schemes. Apart from these, Ashoka India Opportunities Fund and Nippon India Small Cap Fund also invested Rs 14 crore each in the company.
07:28 PM

Dow Jones opens flat after record rise in US Covid-19 cases

The Dow Jones Industrial Average fell 15.74 points, or 0.06%, at the open to 25,690.35. The S&P 500 opened higher by 0.42 points, or just 0.01%, at 3,152.47. The Nasdaq Composite dropped 1.84 points, or 0.02%, to 10,545.91 at the opening bell.
07:07 PM

IRCTC Q4 results: Net profit jumps 79% to Rs 150.6 crore; announces dividend of Rs 2.50 per share

State-run Indian Railway Catering & Tourism Corporation (IRCTCNSE 1.15 %) on Friday reported a 79.3 per cent jump in its March quarter net profit from a year ago. The company reported a net profit of Rs 150.6 crore, compared with Rs 84 crore a year ago. However, its net profit in the quarter ended March, dropped 26.9 per cent sequentially from the quarter ended in December 2019, when it reported a net profit of Rs 205.80 crore, likely hurt by the coronavirus-induced nationw .
06:34 PM

Canara Bank plans to raise up to Rs 8,000 cr in FY21

Canara Bank on Friday said its board has approved raising up to Rs 8,000 crore in the current financial year, and over half of this would be raised by issuing equity shares. In an update on the outcome of the board meeting held on July 10 about 'Capital Raising Plan for 2020-21', Canara Bank said the board has approved raising equity share capital amounting up to Rs 5,000 crore through various means. The equity capital would be raised by way of qualified institutional placement, rights issue, employee stock purchase scheme, private placement, preferential allotment or any other approved means, subject to market conditions and necessary approvals, the state-owned lender said in a regulatory filing.
Canara Bank plans to raise up to Rs 8,000 cr in FY21
06:03 PM

India-made gold bars to be used for futures contracts at NSE

National Stock Exchange of India (NSE) on Friday announced the launch of NSE Refiner Standards (NRS) for Bureau of Indian Standard (BIS ) standard gold. This will enable the acceptance of gold bars produced by the domestic refiners in India for settlement of the gold futures contracts traded on the NSE platform.
India-made gold bars to be used for futures contracts at NSE
05:38 PM

Break of 10,850 will open way for higher extension moves till 11,000-mark: Abhishek Karande, Reliance Securities

"Nifty continued its higher oscillation posting a positive close for the day with 125 points. Index has now sustained the intermediate supports of 10650 levels. Break of 10850 will open the way for higher extension moves till 11,000 mark. With reference stocks, United Spirits at cmp I'd now gearing for 700/720 levels. Biocon remains the best pick within pharma at cmp of 416 and target 450. Sunpharma is now showing strength at current levels of 493 and have a short term target of 520/525," said Abhishek Karande, CMT - Senior Analyst, Reliance Securities.
05:05 PM

We are now beginning to see some fatigue coming into the market: Sanjeev Zarbade, Kotak Securities

“The BSE-30 Index gained 1.4% in the current week. Market mood remained buoyant, despite continuous increase in Covid-19 cases and high frequency indicators signaling mixed signs of recovery. FPIs sold equities worth US$261 mn over the past five trading sessions while DIIs sold US$106 mn worth of equities in the same period. We are now beginning to see some fatigue coming into the market as reflected by the selling by FPIs and DIIs. Also, the ongoing earnings season will be one of the most weak ones in many years. In view of this, for short term investors, it makes sense to remain cautious,” said Sanjeev Zarbade, VP PCG Research, Kotak Securities.
04:06 PM

These are the top Sensex drags of today's trade

These are the top Sensex drags of today's trade
03:39 PM

CLOSING BELL: Sensex sheds 143 points in seesaw trade, private lenders drag; Nifty ends at 10,768; RIL surges 3%

  • Only 8 Sensex stocks ended in the green
  • Top Sensex losers: Asian Paints, IndusInd, ICICI Bank
  • Top Sensex gainers: RIL, HUL, Sun Pharma
  • Private bank stocks worst drags on Sensex
  • BSE Bankex worst sectoral performer
  • BSE Energy best sectoral performer
  • 11 of 19 sectors ended in the red
  • Advance-decline ratio at 2:3
CLOSING BELL: Sensex sheds 143 points in seesaw trade, private lenders drag; Nifty ends at 10,768; RIL surges 3%
03:24 PM

Here are the volume toppers in today's trade

Here are the volume toppers in today's trade
03:01 PM

Brokerages mixed on Tata Consultancy Services after June quarter results disappoints

Brokerages mixed on Tata Consultancy Services after June quarter results disappoints
02:51 PM

S&P BSE Energy biggest sectoral gainer, up 2.30%. This is how the index stocks are performing

S&P BSE Energy biggest sectoral gainer, up 2.30%. This is how the index stocks are performing
02:40 PM

Here are all the losers in hospitality and tourism sector

Price as on 10 Jul, 2020 02:40 PM, Click on company names for their live prices.
02:28 PM

M&M Financial board to meet on July 18 to decide rights issue terms

In a filing to BSE, the NBFC said it will discuss the rights issue price, the rights entitlement ratio, the record date and timing of the rights issue.
02:02 PM

Bank of Maharashtra board approves raising Rs 3,000 crore

The board of Bank of Maharashtra has approved a Rs 3000 crore capital raising plan in the next one year while the bank said it is comfortably placed to fund growth this fiscal. The plan includes Rs 2000 crore equity raising in follow-on public offering rights issue and qualified institutional placement (QIP) and Rs 1000 crore through issue of tier 2 bonds. "The present market condition is not conducive for raising fresh equity capital. The board has created an enabling provision for the future," bank chief executive AS Rajeev told ET.
01:48 PM

BSE Healthcare best sectoral performer; here are the top gainers

BSE Healthcare best sectoral performer; here are the top gainers
01:23 PM

Here are the top gainers & losers from the realty sector

Price as on 10 Jul, 2020 01:23 PM, Click on company names for their live prices.
12:57 PM

See huge potential in agriculture, food processing sector: Mos Finance

12:54 PM

Post Covid world will be a new world order for businesses: MoS Finance

12:37 PM

Tata Motors Group global wholesales at 91,594 in Q1, down 64% YoY: Agencies

Tata Motors Group global wholesales at 91,594 in Q1, down 64% YoY: Agencies
12:36 PM

Top 5 gainers and losers in the pharma space

Price as on 10 Jul, 2020 12:36 PM, Click on company names for their live prices.
12:31 PM

S&P BSE Metals worst sectoral performer; CIL only index stock in the green

S&P BSE Metals worst sectoral performer; CIL only index stock in the green
12:14 PM

YES Bank FPO floor price at Rs 12 per share: Agencies

YES Bank FPO floor price at Rs 12 per share: Agencies
11:54 AM

Union Bank reduces MCLR by 20 bps across tenors

State-run Union Bank of India on Friday announced reduction in its marginal cost of funds-based lending rate (MCLR) by 20 basis points across tenors. The new rates are applicable from July 11. The revised one-year MCLR stands at 7.40 per cent against 7.60 per cent earlier, the bank said in a release. Three-month and six-month MCLRs have been cut to 7.10 per cent and 7.25 per cent, respectively.
11:26 AM

Go with a small position in gold, don't bet the ranch: Johnson

"Gold is a good investment. It is a safe haven investment. The record shows historically that gold is a great place to be. It performs well relative to US stocks when there is a lot of uncertainty or the economy is in the process of slowing or maybe even worse. If the recession in the US were to reassert itself. I will be very careful about gold. Go with a small position in gold, don't bet the ranch," said Hugh Albert Johnson.
11:16 AM

India's fuel demand recovered further in June

India’s fuel demand in June extended its recovery from a 13-year low hit in April, lifted by a pickup in activity as the economy gradually reopens from lockdown restrictions imposed to combat the coronavirus pandemic, government data showed on Thursday. (Source: Reuiters)
11:11 AM

We expect USDINR (Spot) could quote in the range of 74.70 and 75.25: MOSL

“Increased number of coronavirus cases across the globe is a major concern and is likely to keep the emerging market currencies including the rupee under pressure. We expect that the USDINR (Spot) could quote in the range of 74.70 and 75.25,” Motilal Oswal Financial Services said.
11:04 AM

These stocks defy market mood, rally up to 8%

Price as on 10 Jul, 2020 11:04 AM, Click on company names for their live prices.
10:24 AM

Rakesh Jhunjhunwala hikes stake in this BPO firm, shares rally

Shares of Firstsource Solutions advanced over 4 per cent in Friday’s early trade after ace stock picker Rakesh Jhunjhunwala increased stake in the company to 2.88 per cent during the April-June quarter. Latest shareholding data showed that Jhunjhunwala bought an additional 57 lakh shares in the company during the quarter ended June 30, taking the total number of shares to 2 crore. Earlier, he had a 2.06 per cent stake in the company as of March 31.
Rakesh Jhunjhunwala hikes stake in this BPO firm, shares rally
10:03 AM

Airtel among top 3 gainers in the telecom sector

Price as on 10 Jul, 2020 10:03 AM, Click on company names for their live prices.
09:50 AM

HDFC twins top Sensex drags today

HDFC twins top Sensex drags today
09:24 AM

PNB, SBI, TaMo among most active stocks on NSE

Price as on 10 Jul, 2020 09:24 AM, Click on company names for their live prices.
09:21 AM

OPENING BELL: Sensex drops 150 points, Nifty slips below 10,800; PNB plunges 6%, Future Retail 5%

OPENING BELL: Sensex drops 150 points, Nifty slips below 10,800; PNB plunges 6%, Future Retail 5%
09:12 AM

Auto firms seeking uptick on bookings

When showrooms reopened after 50 days of lockdown, auto makers wondered whether anyone would want to buy cars in the post-Covid age. But now they are concerned about getting enough supplies to meet demand. The uptick in personal mobility has been strong seven weeks into the reopening of dealerships. Stock has been slashed by 100,000 units and auto makers have generated bookings for more than 200,000 vehicles.
09:11 AM

MF investors turn to passive funds

Funds with no active role of a manager such as index and ETFs formed 47% of the total equity funds inflow in the 12 months to June 2020 compared with a share of just around 15.2% two years ago, according to the data from Amfi. The passive funds reported Rs 67,419 crore of inflow while the total equity fund flow including active and passive funds was Rs 1.4 lakh crore during the year ended June 2020.
09:11 AM

Long queue for YES Bank share sale

A clutch of top-rated insurers and asset managers is set to invest in the Rs 15,000 crore YES Bank share sale that opens next week. US-based asset manager Tilden Park, LIC, HDFC AMC and HDFC Life are among the companies set to invest in the issue. ICICI Prudential Life Insurance and Max Life Insurance are also in talks to subscribe.
09:11 AM

Rana Kapoor’s assets attached

The ED has provisionally attached Rs 2,203 crore worth of assets of Yes Bank founder Rana Kapoor, his family and DHFL promoters Kapil and Dheeraj Wadhawan. The attached properties of the Kapoors— valued at Rs 792 crore, but with a market value of Rs 1,400 crore include a building at Cumbala Hill, three flats on Napeansea Road, a flat near NCPA, eight flats in IndiaBulls Blue, Worli, and a Rs 685 crore bungalow on Amrita Shergill Marg in Delhi.
09:09 AM

PPF, bank FDs beat MF SIP returns

Investments in equity schemes in the past five years have fetched lesser average returns than fixed deposits of the best banks or the popular PPF. SIPs — a regular investment route in mutual funds similar to banks’ recurring deposits — in various equity scheme categories returned 3-5% annually on an average in the past five years as majority of the fund managers have struggled to beat the indices
09:09 AM

Tatas reject Mistry quasi-partnership claim

Tata Sons, in its response to the Supreme Court petition filed by Cyrus Investments, a firm controlled by the Cyrus Mistry family, has rejected the latter’s contention that it is a quasi-partnership. The Tata Sons affidavit also rejected the claim that members of the Mistry group are entitled proportionate representation on the board of Tata Group’s holding company.
09:09 AM

Is hotel sector going to rebound fast?

Puneet Chhatwal of IHCL says it is not going to be a very long road to recovery for the hotel industry. "Business for us will bounce back faster. But it would take anything between 60 to 90 days after the lockdown is over. It would be unrealistic to expect that it would happen the very next day or the very next week or in a few weeks. It will take time. But it will not take years for it to come back," says he.
09:08 AM

Why are PSU stocks abuzz

Gurmeet Chadha of Complete Circle Consultants says in the PSU basket, the broad-based sentiment has changed and liquidity is driving them. "In terms of valuations, they are one or two standard deviations below long-term average and the ROE gap between them and the private counterparts is shrinking. So you have seen various reforms, which are bringing efficiency gains for them. So it is because of the valuation, liquidity and some bit of news on strategic divestment being on track, which are driving these stocks," says he.
09:08 AM

What to read in TCS results

Sandip Agarwal of Edelweiss Securities says if TCS sees stability returning quarter two onwards, then it is a very big positive statement because global agencies have been forecasting a 7-8% decline for the full year. "If quarter two stabilises, then we will end up the year between 0% to 2%, plus or minus, and it will be a much better situation than what people are expecting. Then it is a very positive commentary for the whole sector and TCS itself," says he
09:07 AM

Pre-open session: Sensex falls 200 points, Nifty tests 10,750

07:22 AM

SGX Nifty signals negative start

Nifty futures on the Singapore Exchange traded 58.5 points, or 0.54 per cent lower at 10,776.50, in signs that Dalal Street was headed for a negative start on Friday.
07:17 AM

Tech View: Nifty50 forms Inside Bar candle

Nifty50 resumed its uptrend on Thursday after snapping a five-day winning streak on the previous day. In the process, the index reclaimed the 10,800 mark and formed an Inside Bar on the daily chart. The index faces the next resistance in the 10,847-10,884 zone. The immediate support for the NSE barometer stands in the 10,690-70 range, analysts said.
07:16 AM

PBOC sets onshore yuan mid-point at strongest since March

The People's Bank of China set the mid-point guidance rate for the onshore yuan at 6.9943 per U.S. dollar on Friday, on the firmer side of the key 7 per dollar level for the first time since March 12. The onshore yuan strengthened for the fourth session to a four-month high on Thursday. The Reuters' midpoint estimate for Friday's mid-point was 6.9934.
07:15 AM

China, Hong Kong stocks fall 1% each

Hong Kong shares started Friday with a loss on fresh fears over the spread of coronavirus, which sparked a big sell-off on the Dow on Wall Street. The Hang Seng Index slipped 1.06 percent, or 278.38 points, to 25,931.78. The benchmark Shanghai Composite Index shed 0.92 percent, or 31.66 points, to 3,418.93, while the Shenzhen Composite Index on China's second exchange fell 0.46 percent, or 10.50 points, to 2,247.45.
07:14 AM

Japan stocks open lower

Tokyo stocks opened lower on Friday, with investors disheartened by falls in key US indices as markets weighed the impact from the spike in coronavirus cases in many US states. The benchmark Nikkei 225 index was down 0.07 percent or 15.68 points at 22,513.61 in early trade, while the broader Topix index slipped 0.37 percent or 5.73 points to 1,551.51.
07:13 AM

Oil dips, heading for weekly loss

Oil prices dipped on Friday after steep falls in the previous session and were set for a weekly decline on worries renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere will suppress fuel demand. Brent crude was down by 7 cents, or 0.2 per cent, at $42.28 a barrel after falling more than 2 per cent on Thursday. US oil fell 13 cents, or 0.3 per cent, at $39.49 a barrel after a drop of 3 per cent in the previous session.
07:11 AM

Asian markets look set to fall on virus concerns

Asian shares were set to open mostly lower on Friday as record-breaking new coronavirus cases and deaths in several U.S. states stoked concerns that new lockdowns could derail the economic recovery, and investors looked forward to earnings season. Australian S&P/ASX 200 futures were down 0.41 per cent, Japan's Nikkei 225 futures edged up 0.02 per cent, and Hong Kong's Hang Seng index futures lost 0.87 per cent.
07:10 AM

US stocks ended mixed

Wall Street's major averages finished mixed on Thursday as investors pored through the newly-released weekly report on US jobless claims.The Dow Jones Industrial Average shed 361.19 points, or 1.39 per cent, to 25,706.09. The S&P 500 was down 17.89 points, or 0.56 per cent, to 3,152.05. The Nasdaq Composite Index increased 55.25 points, or 0.53 per cent, to 10,547.75
07:10 AM

Rupee recovers to 74.99 against dollar

The rupee pared some of its early gains to settle marginally up by 3 paise at 74.99 against the US dollar on Thursday tracking weakness in the greenback and gains in the domestic equity market. Forex traders said positive domestic equities and weak US currency supported the local unit, while foreign fund outflows and concerns over rising COVID-19 cases weighed on investor sentiment.
07:08 AM

Sensex, Nifty on Thursday

The BSE Sensex closed at 36,737.69, higher by 408.68 points or 1.12 per cent from its previous close of 36,329.01. It had opened at 36,450.69 and touched an intra-day high of 36,806.30 and a low of 36,422.30 points. The Nifty50 on the National Stock Exchange closed at 10,813.45, higher by 107.70 points or 1.01 per cent from its previous close.
07:07 AM

Good morning, dear reader! Here's something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day
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