Closing Bell: Sensex, Nifty end lower after Moody's cuts outlook to 'negative'; IT, FMCG stocks drag##Closing Bell: Sensex, Nifty end lower after Moody's cuts outlook to 'negative'; IT, FMCG stocks drag

- Indian shares inched lower on Friday after Moody’s Investors Service lowered its ratings outlook to 'negative' from 'stable'. Nomura also cut India's GDP growth guidance for FY19 & FY20 following Moody's outlook revision.

- The Sensex ended the day 330 points lower at 40,324, while the broader Nifty50 index lost 104 points to end the day at 11,908.

- Yes Bank, IndusInd Bank, ICICI Bank, Eicher Motors, and Kotak Bank were the top gainers on the Nifty50, while Bharti Infratel, Sun Pharma, UPL, GAIL, and Vedanta led the losses.

- Among sectors major selling was seen in PSU Bank and pharma sectors, down around 2 percent each. Nifty Metal and Nifty FMCG also lost over 1.7 percent each during the day. Meanwhile, Nifty IT fell 1.5 percent, Nifty Auto shed 0.8 percent, and Nifty Media declined 0.7 percent.

- Raymond was locked in 20 percent upper circuit after the company demerged its core lifestyle business into a separate listed entity.

Nov 8, 2019 3:33 PM

This stock rose 158% in just 5 years. Is it still a safe bet?

The scrip more than doubled from Rs 293 in 2014 to Rs 756 in 2019, indicating a 158 percent jump in its share price.

Nov 8, 2019 3:23 PM

Dr Lal PathLabs Q2 profit rises 41%##Dr Lal PathLabs Q2 profit rises 41%

Consolidated Net profit grew 41.4 percent at Rs 81 crore against Rs 57.3 crore YoY. Consolidated revenue went up 15.1 percent at Rs 365.6 crore against Rs 317.5 crore YoY. Consolidated EBITDA was higher by 25.5 percent at Rs 109 crore against Rs 86.8 crore YoY.

Nov 8, 2019 3:13 PM

Moody's cuts outlook on six Indian financial companies to negative##Moody's cuts outlook on six Indian financial companies to negative

Moody's revises outlook of EXIM Bank, HDFC Bank, SBI, Hero FinCorp, HUDCO, and IRFC to negative. However, it maintained outlook for Bank of India, Canara Bank, Syndicate Bank and Union bank at stable. Earlier today Moody's also cut India's outlook to 'negative' from 'stable' amid concerns that the country’s economic growth will remain “materially lower than in the past.”

Nov 8, 2019 3:04 PM

Investors flock to large and micap funds in October##Investors flock to large and micap funds in October

Investors handed over Rs 6,015 crore to equity mutual fund managers last month, data released by AMFI shows. This is down 7 percent when compared to the previous month of September and higher by 15 percent when compared to the 2019 monthly average. October data shows that investors want the safety of largecaps but also want a taste of midcaps. As a result ‘large & midcap’ category of funds saw a robust 49 percent increase MoM. All other categories, except the focused category, saw declines over September. READ MORE

Nov 8, 2019 2:57 PM

Nomura has cut India's GDP growth guidance for FY19 and FY20 following Moody's outlook revision##Nomura has cut India's GDP growth guidance for FY19 and FY20 following Moody's outlook revision

Nov 8, 2019 2:56 PM

Q2 Earnings: Eicher Motors' Q2 tax expense at Rs 28.8 crore versus Rs 260 crore (YoY)##Q2 Earnings: Eicher Motors' Q2 tax expense at Rs 28.8 crore versus Rs 260 crore (YoY)

Nov 8, 2019 2:49 PM

Q2 Earnings: GAIL's Q2 EBITDA of Rs 1,654.3 crore sees a sequential dip of 29.8%##Q2 Earnings: GAIL's Q2 EBITDA of Rs 1,654.3 crore sees a sequential dip of 29.8%

Nov 8, 2019 2:42 PM

SBI loans to become cheaper as bank cuts MCLR by 5 bps##SBI loans to become cheaper as bank cuts MCLR by 5 bps

State Bank of India, the country's largest lender, has cut its marginal cost of lending rate (MCLR) by 5 basis points, which will reduce interest rates on loans. SBI has reduced the MCLR to 8 percent from 8.05 percent, effective from November 10. Prashant Kumar, deputy managing director and chief financial officer, "This is a fallout of reduction in rates of interest on deposit which we have done last month."READ MORE

Nov 8, 2019 2:34 PM

IPO index gained more than Sensex, Nifty combined in 2019.##IPO index gained more than Sensex, Nifty combined in 2019.

Initial public offerings (IPOs) launched this year made generous returns despite the fact that several sectors were severely hit by the economic slowdown and liquidity crisis. Most of the 10 blockbuster IPOs launched this year have delivered more than 25 percent returns year-till-date (YTD). Besides, the S&P BSE IPO index has surged 40 percent year-to-date, outperforming the Sensex and the Nifty combined — Sensex rose 12 percent while Nifty50 went up 10 percent. While, in the last one year, the IPO index saw a massive growth of 49 percent. The Sensex and the Nifty50 rose 15 percent and 13 percent, respectively. READ MORE

Nov 8, 2019 2:27 PM

Q2 Earnings: M&M reports a tax expense of Rs 403.4 crore in Q2 versus Rs 519.4 crore (YoY)##Q2 Earnings: M&M reports a tax expense of Rs 403.4 crore in Q2 versus Rs 519.4 crore (YoY)

Nov 8, 2019 2:18 PM

Ashok Leyland Q2 Earnings: Profit likely to fall by 90%##Ashok Leyland Q2 Earnings: Profit likely to fall by 90%

Auto major Ashok Leyland will announce its second-quarter results today and being a commercial vehicle player, the losses are going to look very large. Here's what to expect:

- The revenues are likely to be down 49 percent while the profit could go down by 90 percent.

- In the second quarter in a row, the company will report single-digit margins. In fact, margins are expected to be at a multiyear low.

- Margins are likely to be at 5.7 percent versus 10.9 percent the same time last year and about 7 percent last quarter.

Nov 8, 2019 2:10 PM

Equity mutual fund inflows fall for 2nd month, down 8% MoM in October

Updated : November 08, 2019 12:20 PM IST Total inflows in the equity MFs stood at Rs 6,015 crore in October, down 7.9 percent from Rs 6,489 crore in September and lowest since April 2019.

Nov 8, 2019 1:59 PM

Will auto stocks sustain the rally? Here's what Taher Badshah of Invesco MF says##Will auto stocks sustain the rally? Here's what Taher Badshah of Invesco MF says

The rally in the automobile stocks was a bit sharp but was quite expected since they were significantly beaten down, according to Taher Badshah, CIO - Equities, Invesco Mutual Fund. “This is one sector from where we have seen positive management commentary out of this result season and stocks have responded to that. However, we will have to access as to how volumes trend in non-festive season. Reduction in inventory level is also positive,” said Badshah in an interview with CNBC-TV18. READ MORE

Nov 8, 2019 1:42 PM

Nestle India Q3CY19 Earnings: Here are the key things to keep in mind##Nestle India Q3CY19 Earnings: Here are the key things to keep in mind

FMCG major Nestle India will announce its earnings for the third quarter of the calender year 2019. It will be the first earnings announcement after its inclusion into Nifty. The earnings of the company are expected to be better than its peers. Here's what to expect from the company today:

- Focus on the urban market has kept Nestle immune to rural slowdown.

- The expectation is of 9 percent revenue growth, Rs 3200 crore on the topline.

- EBITDA is likely to grow at 6 percent at Rs 786 crore, which could lead to margin compression of 70 basis points

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Nov 8, 2019 1:29 PM

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