IT company L&T Infotech (LTI) on Tuesday reported a 26.7 per cent increase in consolidated net profit to Rs 456.8 crore for the quarter ended September 2020. This is against a net profit of Rs 360.4 crore in the same period a year ago, LTI said in a statement.
Vinod Nair of Geojit Financial Services said, volatility is expected going forward, but the market will maintain its optimism in-line with stock-wise Q2 result, size of the domestic stimulus and global developments.
In 2008 energy was the S&P 500’s second-largest sector by weight, right behind information technology. Energy, one of the S&P 500’s 11 sectors, is made up entirely of oil and gas and oilfield services companies in the index, and over the past 12 years its heft has diminished.
US headquartered Jefferies said in a note last week that it expects capacity utilisation of cement companies to improve to 65% in FY23 from an expected 60% in FY21 thanks to a swifter recovery in demand.
The Dow Jones Industrial Average rose 50.43 points, or 0.18%, at the open to 28,245.85. The S&P 500 opened higher by 12.46 points, or 0.36%, at 3,439.38, while the Nasdaq Composite gained 52.95 points, or 0.46%, to 11,531.83 at the opening bell.
Latest shareholding data showed that billionaire Anil Agarwal-led Vedanta held 2,74,31,54,310 shares, or 64.92 per cent, stake in the company as of September 30. This translates to a dividend amount of Rs 5,843 crore.
PM Modi: The government is actively working towards making vaccine accessible to every citizen once it arrives.
India has been successful in saving more lives compared to countries like the US, Brazil and Spain. We have good recovery rate and low fatality rate, says PM Modi.
PM Modi addresses nation
In this festive season, markets are glittering again, but we should not forget that even though the lockdown has been relaxed, the virus has not gone anywhere.
Gaurav Ratnaparkhi, Senior Technical Analyst at Sharekhan, said the index has crossed the 61.8 per cent retracement of last week's fall, but its movement got halted near the 78.6 per cent retracement mark near 11,950 level.
The allotment committee of the company in its meeting held on Tuesday, approved and allotted senior, secured rated, listed principal-protected market-linked redeemable non-convertible debentures (NCDs) of the face value of Rs 10 lakh each on private placement basis, STFC said in a regulatory filing.
Biscuit maker Mrs Bectors Food Specialities has filed draft papers with markets regulator Sebi to raise Rs 550 crore through an initial share-sale. The IPO comprises fresh issuance of shares worth Rs 50 crore and offer of sale to the tune of Rs 500 crore by existing shareholders, according to the draft red herring prospectus (DRHP) filed with Sebi.
The ratings agency has placed under review for downgrade the B3 rating on the senior unsecured bonds issued by Vedanta and those issued by its wholly-owned subsidiary Vedanta Resources Finance II Plc, affecting $4.2 billion in outstanding debt.
CLOSING BELL: Sensex rises 113 points on buying in IT shares; Nifty ends shy of 11,900; HCL Tech jumps 4%, TechM 3%
HDFC Bank and IT stocks lead the market rally
15 of 30 Sensex stocks end the day in the green
Index contributors: HDFC Bank, HCL Tech, Infosys, TCS, Asian Paints
Top Index gainers: HCL Tech (4.35%), TechM (3.13%), Asian Paints (2.92%)
Top Index losers: ONGC (2.45%), Power Grid (1.44%), NTPC (1.22%)
S&P BSE REALTY biggest sectoral gainer, up 3.77%
S&P BSE OIL & GAS biggest sectoral loser, down 1.30%
Volume toppers: IndusInd Bank, RIL, HCL Tech, L&T, HUL
Here are the top gainers in the real estate sector
Price as on 20 Oct, 2020 03:23 PM, Click on company names for their live prices.
Hindustan Unilever (HUL) on Tuesday reported an 8.6 per cent rise in consolidated net profit at Rs 1,974 crore for the quarter ended September. The company had reported a net profit of Rs 1,818 crore in the same quarter a year ago.
India VIX jumps 4%
India VIX, the measure of volatility in the market, rose 3.83 per cent to 22.65 level during the trade.
Forex Center: This is how the major currencies are faring against each other
Here are the top gainers and losers in the tourism and hospitality sector
Price as on 20 Oct, 2020 02:01 PM, Click on company names for their live prices.
Verdict on Amazon arbitration plea over Future-RIL deal expected in few days
A one-man arbitration panel heard the plea of Amazon and Future Group last week and a verdict is expected in a few days, according to sources. A hearing of the arbitration took place at the Singapore International Arbitration Centre on October 16 after Amazon had slapped a legal notice on Future Group, alleging that the retailer's Rs 24,713 crore asset sale to Reliance Industries (RIL) violated an agreement with the e-commerce giant.
The negativity in Bharti Airtel is coming from the positivity in Vodafone. I would reckon Bharti will soon recover as well.
Oberoi Realty surprised positively as pre-sales volume recovered to 93% of 2QFY20 level. Residential launches remain on track in Borivali, Goregaon and Thane. Besides, the company is mulling a platform to unlock value from existing commercial office space. We maintain ‘buy’ with a revised TP of Rs 497.
- HDFC Securities
Top 5 gainers from the cement space
Price as on 20 Oct, 2020 01:40 PM, Click on company names for their live prices.
PM Modi to address the nation at 6 PM today
Top 5 gainers & losers from banking space
Price as on 20 Oct, 2020 01:05 PM, Click on company names for their live prices.
Equitas Small Finance Bank IPO subscribed 13% on Day 1 so far
The Rs 518 crore initial public offer (IPO) by Equitas Small Finance Bank (SFB) was subscribed 13 per cent on Day 1 of the bidding process so far. By 11.30 am, the IPO had received bids for 1,44,83,700 shares compared with the issue size of 11,58,50,001 shares. Bidding was seen by retail individual investors (RIIs), whose quota was subscribed 31 per cent at the time of writing this report.
JSPL develops new grade of rails; gets approval from Indian Railways
Jindal Steel and Power Ltd (JSPL) on Tuesday said the Indian Railways has approved another grade of rails developed by the company for high-speed and high-axle load applications. In a statement, JSPL said it is the first and only Indian manufacturer to successfully develop 60E1 1175 Heat Treated (HT) rails suitable for high-speed and high-axle load applications.
ACC shares gain nearly 4% after Q3 results
Shares of cement maker ACC rose nearly 4 per cent on Tuesday after the company reported a 20.25 per cent increase in consolidated net profit for the quarter ended September 30. The stock jumped 3.78 per cent to Rs 1,622 -- its 52-week high -- on the BSE. The company on Monday reported a 20.25 per cent increase in consolidated net profit to Rs 363.85 crore for the third quarter ended September 30.
Sunteck Realty to acquire 50-acre land in Mumbai suburb for development of residential project
Price as on 20 Oct, 2020 11:58 AM, Click on company names for their live prices.
NHAI InvIT plans to raise Rs 5,000 crore
National Highways Authority of India (NHAI), the autonomous body to maintain and manage highways across India, will come out with its Rs.5000 crore Infrastructure Investment Trust (InvIT) by early next year, according to multiple people aware of the development. NHAI InvIT, The first InvIT to be sponsored by any government entity in the country, will initially consist of the highway road assets under ToT 2 bundle.
These stocks defy market trend, fall up to 10%
Price as on 20 Oct, 2020 11:25 AM, Click on company names for their live prices.
Wipro bags five-year deal from Fortum
IT services major Wipro on Tuesday said it has bagged an application management (AMS) and services integration and management (SIAM) contract from Fortum, a clean-energy company headquartered in Espoo, Finland. As a part of the five-year agreement, Wipro will manage Fortum's application portfolio across hundreds of applications for more than 11,500 users across 18 countries and provide 24/7 support for business-critical applications, a statement said.
Stay invested in bullion: Jigar Trivedi, Anand Rathi Shares
MCX gold opened with a weak undertone as the dollar index has rebounded after two back to back sessions on sharp depreciation. Investors have turned focus on stimulus developments in the US which might get passed before election. The safe haven demand has been steady amid the upcoming US presidential election, uncertainties over Brexit trade talks and rising COVID-19 cases. We recommend to stay invested in the bullion commodities.
Price as on 20 Oct, 2020 10:25 AM, Click on company names for their live prices.
The Rs 518 crore initial public offering (IPO) by Equitas Small Finance Bank (SFB) kicked off on Tuesday. The offer from the Equitas Holdings NSE 0.10 % unit comprises fresh issue of shares worth Rs 280 crore and an offer for sale of 7,20,00,000 shares by the parent firm. The IPO is being sold in the price band of Rs 32-33 per share. Analysts are recommending a 'subscribe' rating on the issue with a long-term view.
Voda Idea, SBI, Federal Bank among most active stocks on NSE
Price as on 20 Oct, 2020 09:25 AM, Click on company names for their live prices.
OPENING BELL: Sensex drops 65 points, Nifty slips below 11,850; Britannia, Rallis India tank 4% each
Pre-open session: Sensex falls 20 points, Nifty at 11,870
SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 43 points, or 0.36 per cent lower at 11,866, in signs that Dalal Street was headed for a negative start on Tuesday
Tech view: Nifty forms Doji candle
Analysts said the index did not see a followup drop following Thursday’s selloff, which is a sign of relief. But they feel the index remains vulnerable to selling pressure. The 11,900-926 range could pose immediate resistance for the index, they said.
Asian shares fall tracking US markets
Asian stocks came under pressure on Tuesday as a deadline for US lawmakers to pass an economic stimulus bill approached. In early Asia trade, Australian stocks dipped at the open while MSCI's gauge of stocks across the globe shed 0.06 per cent. Japan's Nikkei 225 index was down 0.23 per cent or 55.30 points at 23,615.83. Hong Kong's Hang Seng, meanwhile, rose 0.12 per cent, or 29.38 points, to 24,571.64.
Deadline looms, but US Covid relief deal may be far off
House Speaker Nancy Pelosi reported some progress in advance of a Tuesday deadline for reaching a pre-election deal with President Donald Trump on a new coronavirus relief package, but the same core problems bedeviling the effort remain in place despite optimistic talk from the president and his team.
US stocks settled lower
US stocks slumped as investors reacted negatively to news that Congress and the White House have remained apart on a new relief package to help Americans financially distressed by the novel coronavirus measures. The Dow Jones Industrial Average closed at 28,195, decreased 1.4 percent. The S&P500 index settled at 3,426, off 1.6 percent. The Nasdaq Composite Index closed at 11,479, down 1.7 percent.
Rupee closes almost flat at 73.37 in lacklustre trade
The rupee slipped by 2 paise to close at 73.37 against the US currency on Monday due to some dollar demand and uncertainty related to the US fiscal stimulus and presidential elections. The local unit opened at 73.38 against the US dollar at the interbank forex market and moved in a narrow range of 73.35 to 73.42 in the day trade.
Sensex, Nifty on Monday
Equity benchmarks made a winning start to the week on Monday as banking and financial counters saw robust buying amid largely positive cues from global markets. The 30-share BSE Sensex ended 448.62 points or 1.12 per cent higher at 40,431.60. The broader NSE Nifty surged 110.60 points or 0.94 per cent to finish at 11,873.05.
Good morning, dear reader! Here's something to kickstart your trading day