ONGC ends 3% lower ahead of Q3 earnings due tomorrow##ONGC ends 3% lower ahead of Q3 earnings due tomorrow

Feb 13, 2019 3:51 PM

Closing Bell: Sensex, Nifty end lower, midcaps also fall##Closing Bell: Sensex, Nifty end lower, midcaps also fall

The Sensex was down 119.51 points at 36034.11, while Nifty was down 37.70 points at 10793.70. Adani Ports, Indiabulls Housing, UPL, Tata Motors and HDFC were the top gainers on the Nifty, while losers included Eicher Motors, IOC, HPCL, GAIL and ONGC. Except IT index, all other sectoral indices closed in red led by Nifty PSU bank, infra, energy, auto, pharma and metal.

Feb 13, 2019 3:40 PM

Major indices slip from day's high, currently trading at low point of the day##Major indices slip from day's high, currently trading at low point of the day

Feb 13, 2019 3:24 PM

UPL hits 1-year high as Arysta Life buy seen positive##UPL hits 1-year high as Arysta Life buy seen positive

Shares of UPL Ltd surged 3.5 percent to hit its over one-year high of Rs 824 because most brokerage firms see Arysta LifeScience's acquisition boosting the company's growth, said dealers. Also, positions in futures and options of the stock show traders expect it to extend gains to the fifth month in February, said an analyst. In June, the stock had hit a low of Rs 537.25 after hitting a high of Rs 902.50 in August 2017. At 2.45 pm, shares of UPL were up 3.3 percent at Rs 822.10, with over 2.5 million shares traded on the National Stock Exchange, versus a daily average of 1.8 million shares.

Feb 13, 2019 3:13 PM

Gold remains weak on muted demand##Gold remains weak on muted demand

Gold eased by Rs 30 to Rs 34,050 per 10 gram at the bullion market Wednesday on subdued demand from local jewellers even as the yellow metal strengthened overseas. Silver also fell by Rs 200 to Rs 40,800 per kg on reduced enquiries from industrial units and coin makers. Marketmen said the fall in gold prices has been mostly attributed to sluggish demand from local jewellers as well as retailers, but a firming trend overseas limited the fall. Globally, gold rose 0.13 per cent to USD 1,313.10 an ounce in New York as the dollar fell from multi-week highs, raising demand for the precious metal. Silver was up 0.19 per cent to USD 15.80 an ounce. In the national capital, gold of 99.9 per cent and 99.5 per cent purities shed Rs 30 each to Rs 34,050 and Rs 33,900 per 10 gram, respectively. The precious metal had lost Rs 200 in the previous two days. Sovereign gold, however, maintained at Rs 26,100 per piece of 8 gram in limited deals. In line with overall trends, silver ready fell by Rs 200 to Rs 40,800 per kg and weekly-based delivery dropped by Rs 205 to Rs 39,624 per kg. Silver coins, however, remained flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces. (PTI)

Feb 13, 2019 2:56 PM

Bosch India Q3 net profit rises but EBITDA falls 5.6% YoY##Bosch India Q3 net profit rises but EBITDA falls 5.6% YoY

Feb 13, 2019 2:28 PM

Bosch at 3-month low on weak third quarter operating performance##Bosch at 3-month low on weak third quarter operating performance

Shares of Bosch fell 5 percent to a three-month low of Rs 17645.55 today, after the company's operating margin saw sharp contraction of 100 basis points on year at 13.6 percent in the quarter ended December. So far, 54,733 shares of the company were traded on the NSE, 2.5 times the six-month average daily volume of 22,255. At 1.55 pm, shares of the company were down 4.9 percent at Rs 17,680.

Feb 13, 2019 2:18 PM

Sebi has robust measures for proper functioning of securities market: IOSCO report##Sebi has robust measures for proper functioning of securities market: IOSCO report

Markets watchdog Sebi has been identified by a global body of regulators among those having put in place robust measures to ensure orderly functioning of securities markets. This is a part of the findings of an IOSCO report titled "Standards Implementation Monitoring on Secondary and Other Market Principles". These secondary and other market principles seek to promote fair, efficient and transparent markets and provide core elements of an essential regulatory framework for securities regulations. According to the report, the Indian capital markets regulator has mostly implemented secondary market principles. These secondary market principles cover areas such as authorisation, oversight and ongoing supervision requirements; transparency requirements; detection and deterring market misconduct; and also deal with managing risks, such as monitoring large exposures, default procedures and short selling. In India, the recognised stock exchanges have in place automated systems of market surveillance which are complemented by Sebi's own system that allows for surveillance across bourses and market segments, as per the report. It noted that Sebi's Integrated Market Surveillance System (IMSS) and Data warehouse & Business Intelligence System (DWBIS) integrate the data from across the stock exchanges and depositories. All data from the exchanges and depositories are delivered overnight and fed into IMSS and DWBIS. DWBIS is an in-house system developed by Sebi for data mining and analytics. (PTI)

Feb 13, 2019 1:34 PM

Bata India hits 52-week high after December quarter results, Sensex, Nifty marginally higher##Bata India hits 52-week high after December quarter results, Sensex, Nifty marginally higher

Bata India rose over 3 percent to hit a fresh 52-week high of Rs 1,235 on the NSE on February 13 after the company registered a strong performance in the December quarter with revenues growing 15.5 percent and operating profit margin (OPM) improving 450 bps. Shares of Bata India traded at Rs 1248.10, up by almost 5 percent on the BSE at 1.25 pm. Meanwhile, the BSE Sensex was trading higher by 98 points at 36,252. The Nifty traded with gains of 27 points, or 0.25 percent, at 10,858.55.

Feb 13, 2019 1:27 PM

Skechers buys out Future Group's 49% stake in Indian JV##Skechers buys out Future Group's 49% stake in Indian JV

Skechers USA has bought out Kishore Biyani-led Future Group's 49 percent stake in its Indian joint venture (JV) for an undisclosed sum. With this, Skechers India has become a wholly-owned subsidiary of the American footwear major.

"Few markets match the potential for growth of India, which is why we entered the market initially, and why we recently decided to purchase the minority stake in our joint venture," Skechers Chief Operating Officer David Weinberg said in a statement.

Skechers South Asia CEO Rahul Vira said this development will enable the company to amplify its growth plans, accelerate expansion of its operations and build a stronger network to further gain market share in India. While both the companies have not revealed the deal value, sources say Skechers paid close to Rs 600 crore to acquire balance stake in Skechers India. (PTI)

Feb 13, 2019 1:20 PM

Global update: Asian stocks reach four-month peak on US-China trade deal hopes##Global update: Asian stocks reach four-monthpeak on US-China trade deal hopes

Asian stocks reached a more than four-month high on Wednesday, lifted by optimism that the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 percent to its highest level since early October and Japan's Nikkei average climbed 1.3 percent to an eight-week high. China's Shanghai Composite and blue-chip CSI 300 were both up around 2 percent to multi-month highs, with IT shares leading the gains on Beijing's promise to push for core technology and innovation. Asia took its cue from Wall Street, where the Dow and Nasdaq each rallied about 1.5 percent overnight on optimism over US-China trade negotiations and a tentative US congressional spending deal to avert another partial government shutdown. (Reuters)

Feb 13, 2019 1:05 PM

Here's what Vaibhav Sanghavi, CEO of Avendus Capital, has to say on NBFCs##Here's what Vaibhav Sanghavi, CEO of Avendus Capital, has to say on NBFCs

Feb 13, 2019 12:43 PM

Natural gas price to be hiked by 10% for ONGC, Reliance##Natural gas price to be hiked by 10% for ONGC, Reliance

In a boost to firms like ONGC and Reliance Industries, the government is likely to raise the price of domestically produced natural gas by over 10 per cent to over USD 3.72 per million British thermal unit with effect from April 1, sources in know of the development said. The price of gas produced from difficult fields will rise to about USD 9 per million British thermal unit (mmBtu) from current USD 7.67, they said. This will be the fourth straight increase in gas prices.

Natural gas prices are set every six months - on April 1 and October 1 every year - based on average rates in gas-surplus nations like the US, Russia and Canada. The increase in price will boost earnings of producers like Oil and Natural Gas Corp (ONGC) and Reliance Industries but will also lead to a rise in price of CNG, which uses natural gas as input. It would also lead to higher cost of natural gas piped to households (PNG) for cooking purposes as well as of feedstock cost for manufacturing of fertilisers and petrochemicals. (PTI)

Feb 13, 2019 12:15 PM

Strides Pharma Science arm gets USFDA nod for skin ointment##Strides Pharma Science arm gets USFDA nod for skin ointment

Strides Pharma Science Wednesday said its step-down wholly-owned subsidiary has received approval from the US health regulator for Triamcinolone Acetonide cream, used to treat a variety of skin conditions. The approved product is a generic version of Mylan Pharmaceuticals Inc's Triamcinolone Acetonide cream. Strides Pharma Global Pte Limited, Singapore, has received approval for Triamcinolone Acetonide Cream USP, 0.025, 0.1 per cent and 0.5 per cent from the United States Food & Drug Administration (USFDA)," Strides Pharma Science said in a BSE filing. The company's stock was trading 2 percent lower at Rs 404 apiece on the BSE. (PTI)

Feb 13, 2019 11:55 AM

OMC stocks fall around 2% as oil prices jump##OMC stocks fall around 2% as oil prices jump

Shares of oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum fell on Wednesday after crude oil prices rose over 1 percent to near $63 per barrel in the previous session. Oil prices rose after OPEC data showed it cut production sharply in January, and as lead member Saudi Arabia said it would reduce its output in March by an additional 500,000 barrels, reported Reuters.

Indian Oil shares fell nearly 1 percent, BPCL shares fell 2.4 percent and HPCL shares were down 2.5 percent in the morning trade on the BSE. The benchmark Sensex traded 0.26 percent higher at 36,246.36 points.

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Feb 13, 2019 11:43 AM

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