Tech Mahindra reports Q3 earnings above estimates on all fronts##Tech Mahindra reports Q3 earnings above estimates on all fronts

Feb 5, 2019 3:52 PM

Closing Bell: Sensex, Nifty end with minor gains, Titan among top gainers##Closing Bell: Sensex, Nifty end with minor gains, Titan among top gainers

The Sensex ended just 34 points up, or 0.09 percent, at 36,616, and the Nifty settled with a gain of 22 points, or 0.20 percent, at 10,934. The market breadth was negative as 852 shares advanced, against a decline of 1679 shares, while 146 shares were unchanged. Broader market indices dragged with the midcap index falling nearly a percent. Barring automobiles, weakness was visible among all sectoral indices, with pain visible among energy, consumption, infrastructure, and metals space. Hero MotoCorp, IndusInd Bank, Zee Entertainment and Titan were the top gainers, while Tata Motors, Coal India, and Tata Steel lost the most.

Feb 5, 2019 3:50 PM

GAIL's EBITDA & margin fall on a sequential basis##GAIL's EBITDA & margin fall on a sequential basis

Feb 5, 2019 3:19 PM

Suzlon Energy shares plunge over debt servicing concerns##Suzlon Energy shares plunge over debt servicing concerns

Suzlon Energy shares fell nearly 43 percent in the afternoon trade following concerns about the company's debt obligations. Suzlon Energy Group CEO JP Chalasani told CNBC-TV18 that rumours about the company's debt default are baseless. Read more

Feb 5, 2019 2:55 PM

PFC acquiring 52% stake in REC gets CCI's green signal##PFC acquiring 52% stake in REC gets CCI's green signal

The Competition Commission of India Tuesday gave approval to state-owned financial institution Power Finance Corporation (PFC) for the acquisition of 52 per cent stake in REC. The government is expected to garner around Rs 15,000 crore from this sale process. In December 2018, the cabinet committee on economic affairs as well as the board of PFC had given in-principle approval for the strategic sale. In a tweet on Tuesday, the Competition Commission of India (CCI) said it "approves acquisition of 52 per cent shareholding in REC Ltd by Power Finance Corporation Ltd."

Read full report here

Feb 5, 2019 2:54 PM

Interim budget 2019 picks: JM Financial is betting on these stocks, should you?##Interim budget 2019 picks: JM Financial is betting on these stocks, should you?

Larsen & Toubro, Godrej Properties, Mahindra & Mahindra, GSFC, Bharat Electronics and Bata India are top featured stocks in JM Financial's top budget picks 2019-20. The brokerage house is betting big on defence, realty, tractor and consumption space.

Here are the main highlights from the JM Financial Services Budget Picks 2019-20 research report

Feb 5, 2019 2:21 PM

Titan at record 52-week high as sentiment upbeat after result##Titan at record 52-week high as sentiment upbeat after result

Shares of Titan Company surged nearly 4 percent to a lifetime high of Rs 1,065.90 as sentiment for the stock remains positive, given bullish comments from analysts after the company reported robust earnings for the quarter ended December. Late Friday, Titan reported a strong Oct-Dec earnings performance because of strong growth in the mainstay jewellery business. Shares quoted at Rs 1,062, rising 3.53 percent on the NSE at 2.12 pm. The Nifty traded 17 points up at 10,929. The Sensex added 67 points to trade at 36,650.

Feb 5, 2019 2:16 PM

BHEL's profit and revenue come in higher while EBITDA and margin slip YoY##BHEL's profit and revenue come in higher while EBITDA and margin slip YoY

Feb 5, 2019 1:57 PM

BHEL Q3 profit surges over 25% but misses estimates##BHEL Q3 profit surges over 25% but misses estimates

State-run power plant equipment manufacturer Bharat Heavy Electricals Ltd posted a 25.3 percent rise in third-quarter profit on Tuesday but missed analysts' estimates. Net profit came in at Rs 192 crore, compared with Rs 153 crore a year ago, the company said. Analysts on average had expected BHEL to post a profit of Rs 254 crore, according to Refinitiv data. Total revenue from operations stood at Rs 7,336 crore, the New Delhi-headquartered company said. (Reuters)

Feb 5, 2019 1:33 PM

RCom shares continue to remain under pressure; tank nearly 26%##RCom shares continue to remain under pressure; tank nearly 26%

Shares of Reliance Communications fell further Tuesday, tumbling nearly 26 per cent, after the company decided to opt for insolvency proceedings. RCom shares plunged 24.90 per cent to Rs 5.67 - its record low - on the BSE. At the NSE, shares plummeted 25.82 per cent to Rs 5.60. Shares of Reliance Communications Monday ended nearly 35 per cent lower. Few group shares too tumbled, with Reliance Power Ltd plunging 13.74 per cent and Reliance Naval and Engineering Ltd falling 16.46 per cent on the BSE. Heavy selling was also seen in other group shares Monday. (PTI)

Feb 5, 2019 1:18 PM

S&P expects RBI to cut rates on falling inflation##S&P expects RBI to cut rates on falling inflation

Falling inflation and declining global crude oil prices have created space for the Reserve Bank of India to cut interest rates, S&P Global Ratings said on Tuesday. The RBI is scheduled to announce its sixth bi-monthly policy review for the fiscal on February 7. It would be the first Monetary Policy Committee meeting under RBI Governor Shaktikanta Das, who took charge in December 2018 following sudden exit of Urjit Patel. S&P Global Ratings Economist Vishrut Rana said inflation remains under control and near the low end of the target band, following strong food output, and easing crude oil prices, that have fallen about 20 per cent from their October highs. (PTI)

Feb 5, 2019 1:01 PM

PNB reports net profit of Rs 246.5 crore against poll of Rs 1,073 crore loss##PNB reports net profit of Rs 246.5 crore against poll of Rs 1,073 crore loss

Feb 5, 2019 12:53 PM

Mutual fund industry: Time to review the checks and balances##Mutual fund industry: Time to review the checks and balances

In 2014 when the then SEBI chief U K Sinha proposed an increase in the net worth of mutual fund Asset Management Companies (AMCs) by 10 fold to Rs 100 crore, he was greeted with a wave of opposition by the industry and many in the business media. Finally the regulator pushed through a 5-fold increase to Rs 50 crore. Under Sinha the SEBI had also mandated that AMCs must invest seed capital of 1% of the corpus in all their funds to ensure some skin in the game. The time has probably come to reconsider what the former regulator wanted – ie; increase the skin in the game of the AMCs by either increasing their net worth as Sinha wanted or increase their seed capital or both. Read more

Feb 5, 2019 12:20 PM

Rain Industries hits 20-month low on October-March results warning##Rain Industries hits 20-month low on October-March results warning

Shares of Rain Industries were locked in the 5 percent lower circuit for the second consecutive day as the Supreme Court ruling on petcoke imports is seen hurting the company's expansion plans and may take a toll on earnings for October-December and January-March. At 11.50 am, the stock was at a 20-month low of Rs 103.05. The company's expansion projects have hit a roadblock as the apex court has turned down its petition seeking permission to import a higher quantum of green petroleum coke and calcined petroleum coke. Rain Industries' expansion projects are scheduled to come on stream from Jul-Sep, and the company had expected it to contribute about $250 million to annual revenues. (Cogencis)

Feb 5, 2019 12:08 PM

Indian market is bipolar where only few stocks have done well, says Enam Holdings##Indian market is bipolar where only few stocks have done well, says Enam Holdings

Sridhar Sivaram, investment director of Enam Holdings, is of the view that Indian equity markets are significantly underperforming the emerging markets.

“EMs have had a great start and are already up 10 percent in dollar terms, while our markets are flat,” Sivaram told CNBC-TV18 on Tuesday. "It is a bipolar market where only few stocks have done well. The texture of the market is not good," he added.

Read full report here

Feb 5, 2019 11:50 AM

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