IT, pharma stocks among top Sensex gainers##IT, pharma stocks among top Sensex gainers

Aug 21, 2018 3:48 PM

Closing Bell: Sensex, Nifty end at record highs##Closing Bell: Sensex, Nifty end at record highs

The BSE Sensex ended at 38,285.75, marginally up by 7 points, or 0.02 percent, while the NSE Nifty 50 settled at 11,570.90, higher by 19.15 points, or 0.17 percent.

Aug 21, 2018 3:39 PM

Pick-up at DLF still several quarters away, says HSBC##Pick-up at DLF still several quarters away, says HSBC

Real estate developer DLF Ltd’s operating business has stabilised but new accounting standard hurts with material pick-up is still several quarters away, says HSBC Global Research.

DLF’s adoption of new accounting standard IndAS 115 has resulted in 15 percent net worth erosion or equivalent of 6-7 years of reported profitability pre-FY18 and de-recognition of Rs 140 billion of sale, it said.

As per IndAs, real estate companies including DLF can recognise revenue only on completion of projects.

Earlier this month, DLF reported a 26 percent fall in quarterly revenue from operations.

HSBC retains ‘hold’ rating, and maintains target price at Rs 217.

Shares of DLF fell as much as 3.5 percent to Rs 207.25 on Tuesday, its biggest intraday percent drop since August 2. The stock is down 17 percent this year as of last close.

DLF is top drag on Nifty Realty index, which is down as much as 1.7 percent. Shares traded at Rs 208.35, declining by 3.03 percent on the NSE at 3.28 pm. (Reuters)

Aug 21, 2018 3:29 PM

UPL surges nearly 5 percent, CESC at 1-month high##UPL surges nearly 5 percent, CESC at 1-month high

Shares of United Phosphorous Ltd (UPL) surged 4.76 percent to Rs 648.35 on the NSE at 3.19 pm. The scrip traded between a high of Rs 648.85 and a low of Rs 619.50.

Another company, CESC surged by 6.66 percent to trade at Rs 1004, rising by Rs 62.70. Intraday it touched a high of Rs 1028.85 and a low of Rs 941, after opening at 941.50 on the NSE. Investors appear to be positive on see the company's planned four-way split and separate listing of their businesses unlocking value.

Aug 21, 2018 3:21 PM

GSK Consumer up as Kellogg in fray to acquire Horlicks##GSK Consumer up as Kellogg in fray to acquire Horlicks

Shares of Glaxosmithkline Consumer Healthcare extended gains for the second consecutive session and hit a lifetime high of Rs 7,135 following reports that cereal maker Kellogg and UK-based Reckitt Benckiser Plc have shown interest to acquire GlaxoSmithKline Plc's nutrition business, including Horlicks. Other companies including Nestle, Unilever, Mondelez and Coca-Cola are in the race to acquire the company's nutrition business. Both Kellogg and Reckitt Benckiser have completed their initial evaluations, the report said. In 2017, GSK Plc's nutrition products, including Horlicks, had combined sales of 550 million pound sterling (around Rs 50 billion), with majority of the sales being generated by the Indian consumer healthcare arm, GlaxoSmithKline Consumer Healthcare. (Cogencis)

Shares rose by 5.28 percent to Rs 7140, adding Rs 357.80 in value to the scrip, at 3.14 pm on the BSE.

Aug 21, 2018 3:15 PM

Rupee at 69.80 against the dollar##Rupee at 69.80 against the dollar

Aug 21, 2018 3:11 PM

Market update: Sensex, Nifty trade rangebound##Market update: Sensex, Nifty trade rangebound

Equity indices trade in the green going with the Sensex trading above 38,300 mark at 38,304.72, rising by 26 points, or 0.07 percent, while the Nifty 50 was trading at 11,566.25, up by 14.50 points, or 0.13 percent at 2.50 pm. Shares of Tata Steel were down by 2.76 percent, while Hindustan Unilever also dipped over a percent. SBI, HDFC, IndusInd Bank also declined. Reliance, Sun Pharma, HDFC Bank, Coal India, Axis Bank, TCS, Wipro surged.

Aug 21, 2018 2:56 PM

Pharma pack seeing an uptrend##Pharma pack seeing an uptrend

Aug 21, 2018 1:48 PM

Kajaria Ceramics gains nearly 9.5% backed by heavy volumes##Kajaria Ceramics gains nearly 9.5% backed by heavy volumes

Shares of Kajaria Ceramics surged 9.46 percent to trade at Rs 453.20, adding Rs 39.15 to the stock's value, on the BSE at 1.42 pm. It has ranged between a high and a low of Rs 453.95 and Rs 415.02, respectively. The scrip has extended gains to the third consecutive session of trade and rose nearly 9.5 percent, backed by heavy volumes. Over 25 lakh shares of company have been traded on the NSE, significantly higher than their six-month daily average of 398,310 shares. (Cogencis)

Aug 21, 2018 1:45 PM

Idea rises, Airtel dips after June subscriber data##Idea rises, Airtel dips after June subscriber data

Shares of telecom service provider Bharti Airtel slipped as much as 2 percent, while rival Idea Cellular’s rose over 3 percent on Tuesday after reports that the country’s mobile phone customer base rose 1.4 percent to 115 crore in June from May, according to Trai figures. While Airtel user base grew by 10,000 to 34.46 crore, Idea’s base jumped by 64 lakh subscribers to 22.06 crore.

Shares of Idea Cellular traded at Rs 53.20, lower by 0.37 percent on the NSE at 1.25 pm. Intra-day, the stock has traded between a high of Rs 54.95 and a low of Rs 52.75. Idea stock had fallen 51 percent this year.

Bharti Airtel shares were lower by 0.61 percent, trading at Rs 368.30 on the NSE index. The scrip has ranged between Rs 370.40 and Rs363.10 in intra-day trade. Airtel has lost 30 percent in value so far this year.

Reliance Industries’ shares were higher by 1.19 percent on reports that Reliance Jio added over 9.71 million users in June, taking its subscriber base well past 21.5 crore.

Aug 21, 2018 1:28 PM

Market update: Sensex, Nifty trade flat, Reliance surges over a percent##Market update: Sensex, Nifty trade flat, Reliance surges over a percent

Equity indices continue to trade flat on Tuesday in early afternoon session. The Sensex was up by nearly 12 points, or 0.03 percent, trading at 38,290.67, while the Nifty 50 was at 11,562.50, higher by nearly 11 points, or 0.09 percent at 1 pm. Shares of Coal India and Wipro were trading higher by up to 2.57 percent. Other Sensex gainers were Tata Motors, Reliance, Sun Pharma, rising by up to 1.21 percent. Reliance Industries was higher by 1.19 percent on reports that Reliance Jio added over 9.71 million users in June, taking its subscriber base well past 215 million. Tata Steel was the top drag on the BSE index, trading lower by 2.24 percent. SBI, IndusInd Bank, Hindustan Unilever, Axis Bank, Yes Bank were other top laggards. HDFC shares declined 0.31 percent.

Aug 21, 2018 1:02 PM

Unitech Case: Supreme Court directs sale of personal assets of directors for recovery of funds##Unitech Case: Supreme Court directs sale of personal assets of directors for recovery of funds

Aug 21, 2018 11:41 AM

FDC shares fall after USFDA’s surprise inspection of facility##FDC shares fall after USFDA’s surprise inspection of facility

Shares of pharmaceutical company FDC Ltd fell as much as 8.1 percent to Rs 232, their biggest intraday percent drop since May 31. US FDA carried out a surprise inspection of the company’s Aurangabad facility and made eight observations for which appropriate response will be submitted, company said on Monday. FDA inspection was on ophthalmics products being exported to US and company says it continues to export them.

More than 109,614 shares traded, 2.6 times their 30-day average. Up to Monday’s close, stock had risen 45.9 percent in the past one year. FDC shares traded at Rs 242.50, down by 3.98 percent at 11.17 am on the NSE.

Meanwhile, Nifty Pharma index on Tuesday was trading higher by 0.14 percent. As many as 6 stocks advanced on the sectoral index against 4 declines. Glenmark Pharma, Cadila Health were among leading gainers, while Aurobindo Pharma, Sun Pharma were among top drags.

Aug 21, 2018 11:21 AM

SpiceJet, IndiGo shares rise on strong July passenger data##SpiceJet, IndiGo shares rise on strong July passenger data

Shares of Indian airlines rise after data released here by the Directorate General of Civil Aviation (DGCA) showed passengers carried by domestic airlines in July rose 20.8 percent on year-on-year basis. SpiceJet had the highest load factor of 93.8 percent, compared with IndiGo’s 88.7 percent. Jet Airways (India) Ltd posted load factor of 83.9 percent while national carrier Air India’s was at 82.3 percent.

IndiGo’s market share was highest at 42.1 percent, up from 38.7 percent last year, way ahead of SpiceJet at 12.3 percent. Jet Airways market share falls to 13.6 percent from 15.8 percent last year.

SpiceJet shares were up as much as 3 percent, IndiGo owner InterGlobe Aviation were up as much as 1.6 percent. Jet Airways shares fell as much as 2.5 percent to Rs 293.95 after a report that India’s corporate affairs ministry is probing allegations of siphoning of funds at the airline. Jet Airways denies receiving any communication from the ministry. (Reuters)

Meanwhile, the Sensex edged up to 38,306.25, rising by 27.50 points, or 0.07 percent at 11.01 am, while the Nifty 50 still traded higher at 11,562.65, up by 10.90 points, or 0.09 percent.

Aug 21, 2018 11:07 AM

Vadilal Industries hits 19-month low##Vadilal Industries hits 19-month low

Shares of Vadilal Industries hit a 19-month low of Rs 517.30 as ace investor Ashish Kacholia sold 362,305 shares or 5 percent stake in the company on Monday. Kacholia sold these shares through bulk deals on the NSE and BSE. As of June 30, Kacholia held 7.21 percent stake in the company. In another bulk deal, EQ India Fund, run by Porinju Veliyath, bought 48,000 shares or 0.7 percent stake in the company. At 10.04 am, shares of the company were down 5 percent at Rs 559.40. (Cogencis)

Aug 21, 2018 10:19 AM

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