Sectoral Trend: Nifty Media gains 3.5%, Nifty Pharma top loser##Sectoral Trend: Nifty Media gains 3.5%, Nifty Pharma top loser

May 17, 2019 3:41 PM

Top Nifty gainers and losers at close: Zee up 9%, Dr Reddy's top laggard##Top Nifty gainers and losers at close: Zee up 9%, Dr Reddy's top laggard

May 17, 2019 3:40 PM

Closing Bell: Sensex ends 537 points higher, Nifty above 11,400; Zee rallies 8%, Bajaj Finance up 6%##Closing Bell: Sensex ends 537 points higher, Nifty above 11,400; Zee rallies 8%, Bajaj Finance up 6%

Indian shares rose on Friday, with Nifty ending above 11,400 boosted by gains in auto, banks and FMCG stocks. Meanwhile, robust earnings of Bajaj Fianncial and Bajaj Finserv also boosted investor sentiment. Both indices rose over 1 percent for the week. The Sensex settled 537 points higher at 37,930, while the Nifty50 added 150 points to end at 11,407. Among broader markets, Nifty Midcap and Nifty Smallcap were up 1 and 0.5 percent, respectively. Zee, Bajaj Finance, Bajaj Finserv, HeroMoto Corp, and Maruti were among the major gainers on the Nifty50, whereas Dr Reddy's YES Bank, IOC, Vedanta, and Hindalco led losses. On the sectoral front, Nifty Media was the biggest gainer, up nearly 4 percent led by Zee (up 8.5 percent). Nifty Auto, Nifty FMCG, and Nifty Bank also gained during the day, up over 2 percent each. Meanwhile, Nifty IT and Nifty Pharma were the biggest draggers, down 0.5 and 1.5 percent, respectively. Bajaj Finance rose 6 percent to a record high following a 57 percent surge in net profit on Thursday while Bajaj Finserv also hit its highest ever level, up 5 percent, after its profit grew by 31.7 percent to Rs 839 crore.

May 17, 2019 3:36 PM

Dr Reddy's Q4: Margin expands nearly 600 bps YoY; net profit up 44% YoY##Dr Reddy's Q4: Margin expands nearly 600 bps YoY; net profit up 44% YoY

May 17, 2019 3:17 PM

Bajaj Auto reports Q4 net profit at Rs 1,305.6 crore##Bajaj Auto reports Q4 net profit at Rs 1,305.6 crore

May 17, 2019 3:02 PM

Dr Reddy's Q4 earnings: Key things to watch out for##Dr Reddy's Q4 earnings: Key things to watch out for

Pharmaceutical major Dr Reddy's Laboratories (DRL) will report its fourth-quarter earnings on Friday and analysts expect the company to post revenue growth of around 10 percent to Rs 3,886 crore. The street expects that EBITDA will improve this quarter all the way to 20.4 percent against 16.3 percent YoY with a profit at over Rs 400 crore. Revenue growth to be led by the US, India, Russia and emerging markets. Estimates are that the US could grow around 5 percent on QoQ basis. India growth could be seen at 10-13 percent.

May 17, 2019 2:48 PM

Brokerages raise TP on Bajaj Finance considering premium valuations, strong earnings##Brokerages raise TP on Bajaj Finance considering premium valuations, strong earnings

Brokerages increased the target price on Bajaj Finance after January-March quarter earnings. Q4 net profit came in at Rs 1,176 crore for the quarter ended March 2019, an increase of 57 percent from last year. Credit Suisse maintained 'underperform', while JP Morgan and Jefferies remained bullish on the stock. Morgan Stanley rated the stock 'equal-weight' and raised the target price to Rs 2,950 from Rs 2,600 per share. "In a tough environment, the company continued to grow its AUM (Assets under management) by over 40 percent. Equalweight call is for the steep valuations", said the brokerage. READ MORE

May 17, 2019 2:31 PM

Constructive on Indian stocks in medium-term; like steel and cement space, says JP Morgan's Bharat Iyer

Bharat Iyer, head of India Equity Research at JP Morgan, spoke to CNBC-TV18 about the market fundamentals and shared his outlook on select sectors.Get latest Market online at cnbctv18.com

May 17, 2019 2:14 PM

Bajaj Auto Q4 results today: Key things to watch out for##Bajaj Auto Q4 results today: Key things to watch out for

Bajaj Auto will report its fourth-quarterly earnings on Friday and analysts expect the two-wheeler maker to post a mixed set of results. The analysts are expecting a mixed quarter. A CNBC-TV18’s poll sees revenue growth of 6.5 percent, driven by a couple of factors such as the volume growth, which has been very strong. Bajaj Auto has outperformed its peers and in the March quarter, it had a volume growth of close to about 14 percent. READ MORE

May 17, 2019 1:58 PM

Aurobindo Pharma shares tank 8% as USFDA warns of regulatory action##Aurobindo Pharma shares tank 8% as USFDA warns of regulatory action

Aurobindo Pharma shares plunged as much as 8 percent on Friday after the US Food and Drug Administration classified the inspections at the drugmaker’s API intermediates facilities as Official Action Indicated (OAI). OAI means regulatory and/or administrative actions will be recommended in future. In its press release, the company said that it has received letters from the US FDA classifying the inspections concluded at their API (Active Pharmaceutical Ingredient) facilities of Unit I and XI and intermediates facility of unit IX in February 2019 as OAI.

May 17, 2019 1:42 PM

Indices up in the range of 0.6-1% each with Nifty Bank outperforming##Indices up in the range of 0.6-1% each with Nifty Bank outperforming

May 17, 2019 1:26 PM

UPL Q4 results today: Net profit may rise 14%##UPL Q4 results today: Net profit may rise 14%

UPL Ltd, formerly United Phosphorus Ltd, will report its fourth-quarter earnings on Friday and analysts expect the agrochemicals company to report a good set of numbers this time around. The fourth quarter numbers of UPL are expected to be good driven by all their geographies, especially Latin America. The year-on-year revenues are expected to grow by 13 percent at Rs 6,444 crore and EBITDA is expected to grow by 14.5 percent along with expansion in margins of 20 basis points. The profit is also expected to go up by 14 percent. READ MORE

May 17, 2019 1:11 PM

Bajaj Finance hits all-time high on robust March-quarter results##Bajaj Finance hits all-time high on robust March-quarter results

Shares of Bajaj Finance gained over 5 percent to hit its record high of Rs 3,282 on Friday after the company reported strong March-quarter earnings. The company reported a 57 percent jump in its fourth-quarter consolidated net profit at Rs 1,176 crore as against Rs 748 crore in a year ago period. Global brokerages like Morgan Stanley, Deutsche Bank, Credit Suisse, and Jefferies have also increased their target price for the stock for a 12-month period. READ MORE

May 17, 2019 12:54 PM

Analysis: What we know about the differences between the IndiGo founders

What's with Indian aviation?

May 17, 2019 12:38 PM

Yes Bank recalls Rs 1.44 crore bonuses paid to Rana Kapoor, says report##Yes Bank recalls Rs 1.44 crore bonuses paid to Rana Kapoor, says report

Following directions from the Reserve Bank of India (RBI), Yes Bank has clawed back performance bonuses of Rs 1.44 crore paid to it former managing director Rana Kapoor reported by Bloomberg Quint. In October last year, while asking Kapoor to step down from his position, the RBI had also suggested a clawback of bonus paid to him, the report said.

"In accordance with the directions of RBI, the Board of Directors of the Bank had considered and approved clawback of 100 percent of performance bonus paid to Mr. Rana Kapoor for FY 2014-15 and FY 2015-16 net of taxes,” the annual report read. READ MORE

May 17, 2019 12:21 PM

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