Closing Bell: Nifty ends below 11,100, Sensex down 289 points; banking stocks drag, YES Bank down 9%##Closing Bell: Nifty ends below 11,100, Sensex down 289 points; banking stocks drag, YES Bank down 9%

- Indian shares ended lower on Monday with Nifty50 ending below 11,100 level for the first time since March 2019. The benchmark indices were mainly dragged by banking, metal, and auto indices.

- The Sensex ended 289 points lower at 37,397, while the broader Nifty50 index lost 104 points to end at 11,085. In broader markets, the Nifty Midcap fell 2 percent and Nifty Smallcap index tanked 2.7 percent.

- Bharti Airtel, TCS, HCL Tech, Wipro and HDFC Bank were top gainers on the Nifty50, while YES Bank, IndusInd Bank, Indiabulls Housing, Hero Moto Corp, and SBI, led the losses.

- All sectoral indices, except Nifty IT, ended lower for the day. The Nifty PSU Bank index fell the most, down 5 percent, followed by Metal, down 3.3 percent. Nifty Auto declined 1.8 percent, while, Nifty Media fell 2.2 percent for the day. Nifty Bank and Nifty Pvt Bank also lost around 1.8 percent each. Meanwhile, Nifty IT rose 0.8 percent for the day.

Jul 30, 2019 3:36 PM

Cholamandalam Investment Q1 AUM up 35% at Rs 62,827 crore (YoY)##Cholamandalam Investment Q1 AUM up 35% at Rs 62,827 crore (YoY)

Jul 30, 2019 3:28 PM

Out of 11 Nifty sectoral indices, 10 delivered bad returns in the last one month##Out of 11 Nifty sectoral indices, 10 delivered bad returns in the last one month

Out of 11 sectoral indices, 10 sectors delivered poor returns and only one gained in the last one month. Nifty Media was the only sectoral index that saw positive gains this month while others succumbed to the poor stock market conditions.

Among 10 declining sectors, three indices slipped in double-digit numbers -- Nifty Auto (13 percent), Nifty Metal (14 percent) and Nifty PSU Bank (11 percent). The remaining seven plunged between 1-6 percent. They include Nifty Pharma ( -0.31 percent), Nifty FMCG ( -1.93 percent), Nifty IT (-3.36 percent), Nifty Realty (-4.54 percent), Nifty Financial Services ( -5.37 percent), Nifty Bank and Nifty Private Bank (-6 percent). READ MORE

Jul 30, 2019 3:19 PM

Lufthansa second-quarter earnings fall on rising fuel costs and price wars##Lufthansa second-quarter earnings fall on rising fuel costs and price wars

Lufthansa on Tuesday posted a decline in second-quarter earnings, hurt by price competition on short-haul routes and rising fuel costs, adding the European market would likely remain challenging until at least the year's end. The company said in a statement that adjusted earnings before interest and tax (EBIT) fell to 754 million euros ($839.73 million), compared to 1 billion euros a year earlier. READ MORE

Jul 30, 2019 3:09 PM

Nifty slips below 11,100 for the first time since March 11##Nifty slips below 11,100 for the first time since March 11

Jul 30, 2019 2:55 PM

CCD co-founder VG Siddhartha goes missing: Did liquidity stress lead to his disappearance?

Cafe Coffee Day founder VG Siddhartha's letter talks about the pressure that he faced from the Income Tax Department or tax officials. Get latest Business online at cnbctv18.com

Jul 30, 2019 2:48 PM

Economy may pick up by Q4 if RBI, govt act on NBFC issue, says Saurabh Mukherjea of Marcellus##Economy may pick up by Q4 if RBI, govt act on NBFC issue, says Saurabh Mukherjea of Marcellus

The Indian economy can see a pickup by Q4 of FY20 if the RBI and the government take effective action on the NBFC issue, said Saurabh Mukherjea, founder of Marcellus Investment Managers. “The RBI does need to step in and inject confidence into the sector by voluntary asset quality review (AQR) of the sector," he said in an interview with CNBC-TV18. Indian market is still around 10 percent overvalued at the market level, Mukherjea said. READ MORE

Jul 30, 2019 2:34 PM

SBI careful about exposure to auto sector, says MD PK Gupta##SBI careful about exposure to auto sector, says MD PK Gupta

State Bank of India (SBI) has tightened lending terms for auto dealerships in an attempt to cut exposure to the troubled sector, as per media reports. PK Gupta, MD of SBI, spoke at length about the lending standards. “Auto sales have been lower for the last 8-9 months. We are seeing a bit of a slowdown in the sector,” said Gupta on Tuesday. “Therefore, we did issue an advisory to our branches to be careful while taking fresh exposure in this sector and at the same time we have been actively engaged with all the auto majors and auto dealers across the country,” he added. READ MORE

Jul 30, 2019 2:19 PM

This multi-bagger stock rose 2100% in last 10 years!

Havells India has been a major wealth creator for equity investors in the last 10 years. The stock has risen from around Rs 30 in July 2009 to Rs 665 currently, up over 2100 percent in the last 10 years.

Jul 30, 2019 2:04 PM

Q1 Earnings: United Bank of India's asset quality sees an improvement in Q1, with gross NPA below 16%##Q1 Earnings: United Bank of India's asset quality sees an improvement in Q1, with gross NPA below 16%

Jul 30, 2019 1:48 PM

Why BofAML upgraded Bharti Airtel despite intense competition, consolidation in telecom sector##Why BofAML upgraded Bharti Airtel despite intense competition, consolidation in telecom sector

Bank of America Merrill Lynch (BofAML) upgraded Bharti Airtel's rating to 'buy' from 'neutral' despite intense competition in the sector from Reliance Jio. It also raised the stock's target price to Rs 400 per share from Rs 360 earlier.

According to the brokerage, post the recent rights offering/Africa IPO, they expect Bharti’s balance sheet to be strengthened and consider it to be in a good position to improve its momentum in the core cellular business. They also find Airtel well-positioned to capitalize on any weakness at Vodafone Idea (VIL) as it focuses on integrating its networks post-merger and expect its market share to remain stable at 30-31 percent from FY20 to FY24. READ MORE

Jul 30, 2019 1:32 PM

Q2 will be better than Q1; see healthy growth this year, says Dr Reddy's##Q2 will be better than Q1; see healthy growth this year, says Dr Reddy's

Dr Reddy's Lab is expecting a healthy growth for the financial year 2020, with Q2 likely to be better than Q1, said Erez Israeli, CEO of the company. Israeli has replaced GV Prasad, who stepped down as the CEO of the company on Monday. The company posted a mixed set of earnings in the first quarter as revenue missed estimates but margins on an adjusted basis were in-line. Talking about management changes, Israeli said, “The changes are not significant. I continue to report to Mr Prasad. Mr Prasad is staying with the company and will continue as a co-chairman and will become a managing director.” READ MORE

Jul 30, 2019 1:13 PM

Tech Mahindra Q1 results: Revenue, profit likely to fall in seasonally-weak June quarter

Tech Mahindra's stock price has been underperforming other IT peers as the Street projected lower-than-expected earnings for the period ended June 30.

Jul 30, 2019 12:54 PM

Bank Of India Q1 numbers miss CNBC-TV18 estimates##Bank Of India Q1 numbers miss CNBC-TV18 estimates

Jul 30, 2019 12:35 PM

Kansai Nerolac Paints falls 4% after CLSA maintains 'sell' rating##Kansai Nerolac Paints falls 4% after CLSA maintains 'sell' rating

Shares of Kansai Nerolac Paints fell 3.6 percent intraday on July 30 as global brokerage house CLSA maintained sell call on the stock despite better-than-expected numbers in June quarter. The research house is concerned about the company's exposure to auto original equipment manufacturers who are under pressure due to a slowdown in the industry.

Jul 30, 2019 12:15 PM

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