The Heineken-controlled UBL said the company commenced the year with no supplies for almost half of the first quarter. Sales were impacted despite gradual resumption with phased re-opening of business as parts of the trade remained closed for the full quarter including on-premise outlets, the company said in a stock exchange filing.
Covid-19 and the lockdown to contain the pandemic have severely hurt the top 150 listed Indian companies and 100 multinationals, as they witnessed a steep decline in their profit margins, borrowing capacity and growth.
Sebi observed that SBI, LIC and BoB are the sponsors of SBI Mutual Fund, LIC Mutual Fund and Baroda Mutual Fund, respectively, and they also hold more than 10 per cent stake each in these mutual funds.
The Dow Jones Industrial Average fell 67.79 points, or 0.24%, at the open to 27,828.93. The S&P 500 opened lower by 4.77 points, or 0.14%, at 3,368.66. The Nasdaq Composite dropped 0.27 points to 11,042.24 at the opening bell.
Analysts on Dalal Street believe the upside may remain capped in the coming sessions.
Market action shifting to midcaps, smallcaps
"Markets ended last week on a strong note with Nifty returning 1.9% and Midcap index returning 3.3%, supported by strong foreign institutional flows (~USD 1.9 bn) even as pressure of outflows from domestic institutions (~USD 435 Mn) continued. The outperformance of broader market is in sync with our expectation. We continue to hold the view that the markets would favor mid and small caps over large caps in the near term," said Hemant Kanawala, Head – Equity, Kotak Mahindra Life Insurance.
This is how the 30-pack Sensex moved in today's session. It touched a high of 38,540.57 and a low of 37,654.92 to finally settle at 37,877.34
CLOSING BELL: Sensex extends slide to 3rd day, tanks 433 points; Nifty ends below 11,200; M&M, Axis Bank fall 3% each
Financials, ITC lead the market fall
25 of 30 Sensex stocks end the day in the red
Index contributors: HDFC Bank, ICICI Bank, ITC, Kotak Bank, RIL
Top Index gainers: Sun Pharma (2.15%), NTPC (1.61%), Tata Steel (1.13%)
Top Index losers: M&M (3.29%), Axis Bank (2.56%), Bajaj Fin (2.53%)
All BSE sectoral indices except healthcare, consumer durables and metals end in the red
S&P BSE METAL biggest sectoral gainer, up 0.78%
S&P BSE AUTO biggest sectoral loser, down 2.50%
Volume toppers: RIL Tata Steel, ICICI Bank, SBI, Bajaj Fin
Bank, auto and financial services stocks came under heavy onslaught from bears, who took equity indices in the red for the third day on a trot. Select metal and pharma names saw some buying.
NTPC Q1 results: Profit falls 5% YoY to Rs 2,470 crore, beats Street estimates
State-run NTPC on Friday posted a 5.10 per cent year-on-year (YoY) drop in its standalone net profit to Rs 2,470.16 crore for the quarter ended June, but managed to beat Street expectations. Analysts in an ET Now Poll had estimated NTPC to report a profit of Rs 2,100 crore. The company had reported a net profit of Rs 2,602.79 crore in the same quarter a year ago.
Top 10 losers on NSE
Price as on 14 Aug, 2020 02:35 PM, Click on company names for their live prices.
Sensex extends fall, majority of stocks in the red
Sensex erases gains, slips into the red on signs of escalating US-China tensions
Heavy put writing was witnessed intraday Friday alongside a jump in the open interest (OI) of the August 27 Nifty futures contract, indicating a positive bias for the market. Fear gauge VIX also traded below 20, a positive sign. The bulls wrote huge number of puts intraday at 11,300 and 11,200 levels on weekly expiry options. The call with the highest OI is at 11,400, indicating an imminent tug-of-war between bulls and bears to surpass that level.
Prestige Estates Q1 profit plunges 99% to Rs 1.6 crore
Realty firm Prestige Estates Projects has reported a 99 per cent decline in its consolidated net profit at Rs 1.6 crore for the quarter ended June on lower income amid coronavirus pandemic. Its net profit stood at Rs 115.3 crore in the year-ago period. Total income fell to Rs 1,296.3 crore in the first quarter of 2020-21 fiscal from Rs 1,567.4 crore in the corresponding period of the previous year, according to a regulatory filing.
JUST IN | Hope US stops discrimination of Chinese firms: Foreign Ministry
Q1 results impact...
Price as on 14 Aug, 2020 01:17 PM, Click on company names for their live prices.
Nesco, Pheonix Mills among top 5 gainers in the realty space
Price as on 14 Aug, 2020 12:47 PM, Click on company names for their live prices.
July WPI inflation at -0.58% vs -1.81% in June
Delta Corp, IRCTC among gainers in the tourism & hospitality space; Lemon Tree tanks 5%
Price as on 14 Aug, 2020 12:18 PM, Click on company names for their live prices.
Amid the ongoing rally in the healthcare sector, shares of Lupin moved above Rs 1,000 mark for the first time since November 7, 2017.The scrip has gained 102 per cent since March 13 this year when it scaled a 52-week low of Rs 505. The stock today hit its 52-week high of Rs 1,018.80 on the BSE.
What to expect from NTPC results? Take a look:
Shares of NTPC inched higher in Friday’s early trade ahead of the company’s financial result for the quarter ended June 30 later in the day.
Brokerage firm Edelweiss Securities sees 50.10 per cent year-on-year (YoY) dip in profit after tax on 11.80 per cent YoY fall in revenue.
Dolat Capital expects a 21.80 per cent YoY fall in net profit of NTPC in Q1FY21. However, the brokerage firm expects sales and EBITDA to grow 7 per cent and 11.30 per cent, respectively, on YoY basis.
For the day, USDINR (Spot) to quote in the range of 74.40 and 75.10: MOSL
I am not bearish but there is a 500-point correction waiting to happen and that will differentiate the men from the boys and that is what we will again utilise to buy.
- Sanjiv Bhasin, Director, IIFL Securities
Here are the top 10 gainers from the banking space
Price as on 14 Aug, 2020 10:16 AM, Click on company names for their live prices.
I-Sec downgrades GAIL to Hold from Add
"GAIL India’s (GAIL) consolidated and standalone Q1FY21 EPS was down 56-80% YoY, hit by a big loss in gas marketing and fall in EBITDA in most other segments. Q1FY21 consolidated EPS fall was less steep due to a jump in the share of profit of associates and JVs. To factor-in the disappointment in Q1FY21, we have cut our gas marketing EBITDA by 76%. This has led to cut in FY21E EPS by 6%, and, together with a fall in the value of investments, led to a cut in target price by 10% to Rs101 (4% upside). A further downside to FY21E gas marketing EBITDA is not ruled out. However, the outlook on gas marketing in FY22 is much better as supply to fertiliser plants starts. Tariff reforms may also bring gains. Downgrade to HOLD from Add," said ICICI Securities.
YES Bank, Voda Idea, ALL among most active stocks on NSE
Price as on 14 Aug, 2020 09:23 AM, Click on company names for their live prices.
OPENING BELL: Sensex rises 140 points, Nifty trades near 11,350; HAL, City Union Bank up 6% each
SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 8.95 points, or 0.08 per cent lower at 11,321.80, a sign that Dalal Street was headed for a negative start on Friday.
Tech View: Nifty forms Doji candle
While Nifty50 ended flat on Thursday, it still managed to hold above the 11,300 level. The index continued to form indecisive candles, Thursday's one being a 'Spinning Top', on the daily chart. It has been trading in a narrow range for some time and is facing selling pressure at higher levels. Analysts, however, expect a breakout soon.
Asian shares drop in early trade
Asian shares were trading flat to negative on Friday as markets weighed a pause in Wall Street's multi-month stock rebound and awaited the release of Chinese economic data later in the session. Japan's Nikkei 225 was up 0.19 per cent but Singapore’s Strait Times, China’s Shanghai Composite and Hong Kong’s Hang Seng traded with cuts.
US stocks settled higher
In overnight trade, The S&P 500 ended slightly lower on Thursday after briefly trading above its record closing high level for a second day, and the Dow Jones Industrial Average also dipped in the wake of a disappointing forecast from Cisco Systems Inc . The Nasdaq Composite, boosted by Apple Inc., nudged higher.
Q1 results today
A huge number of small companies will come out with their numbers on Friday. Some major names among them are Bodal Chemicals, Greenply Industries, Indian Bank, MRF, NTPC, UBL and Voltas.
FIIs buy Rs 416 crore worth of stocks
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 416.28 crore on Thursday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 763.54 crore, data suggests.
Bottoms in the investment world don't end with four-year lows, they end with 10- or 15-year lows