Sectoral Trend: Nifty PSU Bank index up 2%, Nifty Metal slips 1.6%##Sectoral Trend: Nifty PSU Bank index up 2%, Nifty Metal slips 1.6%

May 10, 2019 3:45 PM

Top Nifty gainers and losers: Tata Steel slips 6%, SBI up 2.5%##Top Nifty gainers and losers: Tata Steel slips 6%, SBI up 2.5%

May 10, 2019 3:42 PM

Closing Bell: Sensex, Nifty end lower for the eighth session; Tata Steel slips 6%##Closing Bell: Sensex, Nifty end lower for the eighth session; Tata Steel slips 6%

Indian shares lower on Friday, extending losses for eighth straight sessions dragged by IT and metal stocks. Weakness in broader Asian markets amid Sino-US trade tensions also kept investors on the edge. The Sensex settled 96 points lower at 37,463, while the Nifty50 lost 23 points to end at 11,279. The broader markets, however, outperformed the benchmark indices with Nifty Midcap and Nifty Smallcap ending almost half a percent higher. Tata Steel tanked 6 percent after deal with ThyssenKrupp fell through. ThyssenKrupp said that it expects the joint venture with Tata Steel to fail due to EU Commission's continuing concerns. HCL Tech, YES Bank, IndusInd Bank, IOC, and ONGC were the other top losers on Nifty. Meanwhile, Zee, SBI, Bharti AIrtel, Titan, and Indiabulls Housing were top gainers. The sectoral trend remained mixed during the day with Nifty PSU Bank gaining over 2 percent, while Nifty IT and Nifty Metal lost 1.2 percent and 1.7 percent, respectively. SBI gained 2.5 percent after its net profit for the fourth quarter ended March 31, 2019 stood at Rs 838.4 crore as against the loss of Rs 7,718 crore in the corresponding period last year.

May 10, 2019 3:38 PM

Thyssenkrupp statement: Company and Tata Steel expect EU Commission to block the planned joint venture##Thyssenkrupp statement: Company and Tata Steel expect EU Commission to block the planned joint venture

May 10, 2019 3:27 PM

India inflation likely crept up to six-month high in April

The latest Reuters poll of over 40 economists, conducted May 3-9, showed India retail inflation likely rose to 2.97 percent last month from 2.86 percent in March.

May 10, 2019 3:21 PM

PNB Housing cautious on corporate finance disbursement, says MD Gupta##PNB Housing cautious on corporate finance disbursement, says MD Gupta

PNB Housing Finance on Thursday reported a 51 percent jump in its consolidated net profit to Rs 379.77 crore for the fourth quarter ended March 2019. Sanjaya Gupta, MD of PNB Housing Finance, spoke to CNBC-TV18 about the company's financial performance.

"The company keeps on monitoring its corporate finance book on a regular basis and end of January 2019 out of the 10 accounts they found five accounts which could slip under NPA. So, the company created provisions and put these five accounts under special watch. The exposure to these accounts is to the tune of Rs 750 crore," said Gupta.

"The disbursement growth quarter on quarter came down because the company became cautious on corporate finance disbursements, while retail disbursements grew by 14-15 percent quarter on quarter", Gupta said.

May 10, 2019 3:17 PM

No disclosure w.r.t divergence needed for FY18: Canara Bank##No disclosure w.r.t divergence needed for FY18: Canara Bank

May 10, 2019 3:09 PM

Canara Bank non-performing assets see decline##Canara Bank non-performing assets see decline

May 10, 2019 3:03 PM

SIP flows likely to remain strong, focus on companies run by good managements, says Kotak Mahindra AMC##SIP flows likely to remain strong, focus on companies run by good managements, says Kotak Mahindra AMC

The market is at a crossroad now wondering whether the growth will continue or it will hit a temporary bump, said Nilesh Shah, managing director, Kotak Mahindra AMC, adding that Lok Sabha election results on May 23 will determine the market movement.

Talking about fewer funds into equities and the liquidity crunch and its impact on the market, he said there have been some fundamental changes related to compensation of mutual funds distributors leading to a situation where MF distributors have to realign their business model, he said. Moreover, the high net worth individuals also seem to be taking money out ahead of elections. These factors lead to slowing down of flows into MFs in April, according to Shah. READ MORE

May 10, 2019 2:55 PM

Dilip Buildcon Q4 numbers see marginal growth on a yearly basis on all fronts##Dilip Buildcon Q4 numbers see marginal growth on a yearly basis on all fronts

May 10, 2019 2:40 PM

Tata Motors' JLR April sales down 13.3% at 39,185 units in April##Tata Motors' JLR April sales down 13.3% at 39,185 units in April

Tata Motors-owned Jaguar Land Rover on Friday reported 13.3 percent decline in total retail sales at 39,185 units in April. Sales of Land Rover during the month stood at 27,723 units, down 13.1 percent year-on-year, the company said in a statement. Jaguar sales were at 11,462 units, down 13.7 percent, it added. READ MORE

May 10, 2019 2:26 PM

L&T Q4 results: Key things to watch out for##L&T Q4 results: Key things to watch out for

Larsen and Toubro (L&T) will report its fourth-quarter earnings on Friday. The company is expecting revenues at around Rs 45,000 crore as the fourth quarter is a seasonally strong quarter for the company. The bottom line number is expected to come at around Rs 3,700 crore against Rs 3,200 crore year-on-year supported by margin improvement in the services business.

Infrastructure segment for L&T is expected to post good numbers with a 13 percent growth in core engineering, procurement and construction (EPC) execution. READ MORE

May 10, 2019 2:12 PM

SBI stock recovers after asset quality for the quarter-ended March improves##SBI stock recovers after asset quality for the quarter-ended March improves

May 10, 2019 1:58 PM

SBI Q4 net profit misses estimates by a significant margin##SBI Q4 net profit misses estimates by a significant margin

May 10, 2019 1:54 PM

Suzuki Motor says India uncertainty to limit profit growth##Suzuki Motor says India uncertainty to limit profit growth

Suzuki Motor Corp on Friday forecast a 1.7 percent rise in profit this year, anticipating limited growth due to an expected sales tax rise in Japan as well as uncertainty in business conditions in its biggest market, India.

Japan's fourth-largest automaker expects operating profit of 330 billion yen ($3.01 billion) in the year through March 2020, lower than the 362.2 billion yen average of 22 analyst estimates compiled by Refinitiv. It anticipates currency volatility, particularly the rupee and euro, to also weigh on profit growth, even as it expects overall global vehicle sales to hit record highs. READ MORE

May 10, 2019 1:48 PM

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