Reliance, Sun Pharma lead among Sensex gainers, Yes Bank, Maruti top losers##Reliance, Sun Pharma lead among Sensex gainers, Yes Bank, Maruti top losers

Sept 6, 2018 3:45 PM

Closing Bell: Sensex jumps 224 points at end, Nifty up over 0.5%##Closing Bell: Sensex jumps 224 points at end, Nifty up over 0.5%

The BSE Sensex ended 224 points higher or by 0.59 percent to close at 38,243, while the NSE Nifty 50 ended 60 points up, or by over half a percent to settle at 11,537. Indices were pulled higher by Reliance and bank stocks, while pharma stocks continued their strong performance.

Sept 6, 2018 3:42 PM

Reliance Home Finance plans raising Rs 1,500-2,000 crore via preferential issue##Reliance Home Finance plans raising Rs 1,500-2,000 crore via preferential issue

Sept 6, 2018 3:30 PM

Nandan Denim rises 18%, Sensex jumps over 240 points##Nandan Denim rises 18%, Sensex jumps over 240 points

Shares of Nandan Denim ltd rose nearly 18 percent to trade at Rs 91.65 at 2.58 pm. The stock touched an intra-day high of Rs 93.20, after opening at Rs 83.15. Benchmark indices have extended gains with the BSE Sensex surging by 245 points to 38,250. The NSE Nifty 50 also traded higher by 66 points or by 0.57 percent to 11,543.

Sept 6, 2018 3:01 PM

Granules India soars nearly 7 percent, Sensex, Nifty extend gains##Granules India soars nearly 7 percent, Sensex, Nifty extend gains

Shares of Granules India jumped nearly 7 percent to trade at Rs 120.40 at 2.35 pm on the BSE. After opening at Rs 113.10, it touched an intra-day high of Rs 121.30. The BSE Sensex traded higher by over 191 points or by half a percent to 38,209.34, while the NSE Nifty 50 was above the 11,500 levels, trading at 11,521.75, rising by 44.80 points, or 0.39 percent. Midcaps also traded positive rising by over 0.25 percent. Nifty Bank was higher by 0.35 percent. Only Media and FMCG among the NSE sectoral indicies traded weak.

Sept 6, 2018 2:40 PM

Asia shares end down on rout in emerging market currencies##Asia shares end down on rout in emerging market currencies

Key Asian indices ended in the red for the sixth straight session today as the rout in emerging market currencies deepened and as investors fear further escalation in trade tensions between the US and China. The turmoil in emerging market assets continued as investors pulled out their money on fears that economic crisis in Argentina, South Africa and Turkey may spread to other such economies. A potential tariff announcement from US President Donald Trump on Chinese goods worth $200 bln also added to the bearish sentiment in the region. Hong Kong's benchmark Hang Seng fell 1 percent and was the worst hit in the region.

Sept 6, 2018 2:30 PM

Vodafone Idea hits 9-1/2-year low, technical charts suggest further downside##Vodafone Idea hits 9-1/2-year low, technical charts suggest further downside

Shares of telecom operator Vodafone Idea Ltd fell as much as 2.71 percent to Rs 46.6, their lowest since March 23, 2009. The stock breaks below a support at Rs 49.8, the 50 percent Fibonacci projection level of the downtrend from April 17, 2015 high to November 9, 2016 low. This suggests stock may fall up to a support at Rs 33.45, the 61.8 percent projection level. Stock’s wave pattern suggests it is in the third wave of a five wave downtrend that started in April 2015. Trend Intensity (TI) indicator rises to 17, suggesting prices are trending downwards, MACD is also negative and below its signal line. The stock is down about 67 percent in the last three years as of Thursday’s close, while the broader NSE Index had gained 44.4 percent in the same period. (Reuters)

Shares traded at Rs 46.80, down by 2.30 percent at 2.22 pm on the BSE.

Sept 6, 2018 2:22 PM

Sensex, Nifty recover, Lemon Tree Hotels trades over 1% lower##Sensex, Nifty recover, Lemon Tree Hotels trades over 1% lower

Shares of Lemon Tree Hotels have recovered from the day's low at Rs 73.90. The stock traded at Rs 74.65, still down by 1.06 percent. The company has signed a license agreement for a 60-room property with 15 tents in Ranthambore, Rajasthan. Meanwhile, the BSE Sensex jumped over 88 points to trade at 38,106, higher by 0.23 percent at 2.07 pm on the BSE. The NSE Nifty 50 also edged up, rising by 19 points to 11,496.

Sept 6, 2018 2:08 PM

Rupee makes recovery from the day's low against the dollar##Rupee makes recovery from the day's low against the dollar

Sept 6, 2018 2:02 PM

Nalco dips nearly 8% on rupee fall##Nalco dips nearly 8% on rupee fall

Shares of National Aluminium Co. plunged nearly 8 percent to Rs 70 after a sharp depreciation in the rupee against the US dollar. Shares traded at Rs 70.75, down by 7.27 percent on the BSE at 1.27 pm. BSE Metal was trading flat at 13,741.36.

Sept 6, 2018 1:29 PM

Market update: Sensex, Nifty slip lower on rupee woes##Market update: Sensex, Nifty slip lower on rupee woes

The BSE Sensex traded at 37,930.01, down by 88.30 points, or by 0.23 percent at 1 pm on the BSE. The NSE Nifty 50 slipped lower by 27.50 points or 0.24 percent to 11,449.45. Equity indices gave up gains after the Indian rupee breached the 72 mark against the dollar. The home currency has fallen for the seventh day in a row and depreciated nearly 3 percent in 7 sessions. For the year, it has declined by 13 percent and nearly 5 percent in last one month.

Sept 6, 2018 1:10 PM

Rupee breaches the 72 mark against the dollar##Rupee breaches the 72 mark against the dollar

Sept 6, 2018 12:48 PM

Abhishek Kothari quick take on HUDCO’s stellar performance today##Abhishek Kothari’s quick take on HUDCO’s stellar performance today

Strong Q1FY19 from HUDCO has seen a huge thumbs up from investors. The robust disbursement growth at nearly 30 percent drove 24 percent loan growth. This resulted in strong topline growth as interest income grew by nearly 70 percent YOY and 37.5 percent QOQ. The operating profit of the HFC (housing finance company) grew by 108.6 percent YOY and 62.5 percent QOQ. Provisions remained elevated due to slight hiccup in asset quality and improvement in provision coverage ratio. Profits of the HFC grew by 105.3 percent YOY & 49.8 percent QOQ. The only niggling worry in the results was the decline in sanctions by 42.2 percent YOY. Loan growth was largely driven by urban infra and housing portfolio.

Sept 6, 2018 12:10 PM

Mangalam Maloo’s quick take on Zee Entertainment, the top nifty loser today##Mangalam Maloo’s quick take on Zee Entertainment, the top nifty loser today

Morgan Stanley has downgraded its rating on Zee Entertainment from OVERWEIGHT to UNDERWEIGHT and have cut their target price from Rs 610 to Rs 410. The key thesis for their view is the movement of content consumption online poses challenges to traditional media. While Zee has its OTT platform, Zee5 Competition is more intense in the OTT space with global OTT players such as Netflix and Amazon, and possibly large domestic players, such as Reliance Jio. MS expects investments in Zee5 to drag margins by 3-5 percentage points across scenarios and break even by FY25e.

MS cites US as an example and says, as Netflix penetration in the US increased from 32 percent in 2012 to 55 percent in 2017, linear network subscriber penetration declined and TV advertising revenue growth slowed. For India; share of digital advertising is expected to increase from 17 percent in F18 to 31 percent in F25e. MS has cut Zee’s F19/20 EBITDA estimates and their FY20e EPS stands at 20.4. After the current decline, Zee Trades at 22X FY20 P/E. It’s interesting as this downgrade comes just a day after another brokerage CLSA maintained BUY on Zee for the reason that digital ad revenue will jump 4x to $ 5 billion led by the explosive growth of digital video. CLSA believes despite the OTT wave, TV will retain its ad share with its unparalleled 920 million user reach. CLSA’s case while Netflix, Amazon Prime and Hotstar will be the winners in among the top 50m urban elite that demand premium English content, platforms like Zee5 will be winners in the next 80m urban segment which primarily seeks premium local content.

Sept 6, 2018 11:46 AM

Bharti group arm planning to sell remaining 3.2% stake in Future Retail##Bharti group arm planning to sell remaining 3.2% stake in Future Retail

Sept 6, 2018 11:34 AM

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