UPL, PowerGrid, Maruti among top gainers##UPL, PowerGrid, Maruti among top gainers

Aug 16, 2019 3:52 PM

TCS, Vedanta, HCL Tech were top among top losers##TCS, Vedanta, HCL Tech were top among top losers

Aug 16, 2019 3:51 PM

Closing Bell: PSU Banks, auto shares help indices close in the green, Nifty ends above 11k##Closing Bell: PSU Banks, auto shares help indices close in the green, Nifty ends above 11k

The BSE Sensex settled nearly 39 points higher, or 0.10 percent, at 37350 at close. The NSE Nifty50 settled at 11048, just 18 points up. The Nifty MidCap index was 0.33 percent higher at close, while the Nifty Bank surged 0.71 percent. PSU Bank, auto and power were top sectoral gainers, while IT, energy and metal declined. UPL, PowerGrid, Maruti Suzuki, Yes Bank and Grasim were top gainers, rising by up to 4.51 percent. TCS, Vedanta, HCL Tech, BPCL and Sun Pharma declined by up to 2 percent.

Aug 16, 2019 3:34 PM

PM Modi asks Nirmala Sitharaman to streamline ideas to spur job growth, business sentiment

The meeting was to discuss the current state of the economy and to appraise the prime minister about the recent meetings of finance minister with the various industries and stakeholders.Get latest Economy online at cnbctv18.com

Aug 16, 2019 3:17 PM

How city gas distribution companies fared in Q1FY20##How city gas distribution companies fared in Q1FY20

After the dismal performance in the December quarter, the first quarter of the financial year 2019-20 took some breather and city gas distribution (CGD) companies reported good earnings in the quarter. The three CGD companies—Gujarat Gas, Mahanagar Gas and Indraprastha Gas—largely met or beat street estimates in the June quarter. The common theme in the Q1FY20 has been margin expansion for all the three companies. For Gujarat Gas, EBITDA per unit expanded substantially to Rs 5.6, a rise of 33 percent year-over-year and up 30 percent quarter-over-quarter. It was a similar story for Mahanagar Gas, which saw an increase of 24 percent YoY and 28 percent QoQ at Rs10.1, reporting record-high margins. READ MORE

Aug 16, 2019 3:14 PM

PSU banks amongst top gainers in the banking space today##PSU banks amongst top gainers in the banking space today

Aug 16, 2019 3:04 PM

YES Bank shares can make you rich! It's the top performer on Sensex##YES Bank shares can make you rich! It's the top performer on Sensex

Shares of YES Bank rose as much as 6.5 percent to Rs 81.55 on Friday after the lender said that it has raised Rs 1,930 crore through qualified institutional placement (QIP). The lender also said that that it was planning to raise additional funds over the next 12-18 months after the successful QIP. At 1:05 PM, the stock was trading 4.8 percent higher at Rs 80.20 as compared to a 0.1 percent (29 points) rise in Sensex. READ MORE

Aug 16, 2019 2:57 PM

This smallcap real estate stock has 40% upside potential from current levels##This smallcap real estate stock has 40% upside potential from current levels

Real estate player Ahluwalia Contracts (India) Ltd may return over 40 percent to investors in the next one year, if HDFC Securities' latest evaluation on the company's stock price is to be believed. The brokerage has maintained a 'buy' rating on Ahluwalia Contracts but reduced the target price to Rs 402 per share from Rs 430. The revised target price still has an upside potential of over 40 percent. Ahluwalia Contracts (India) shares traded 1.22 percent lower at Rs 274.25 apiece on the NSE on Friday. READ MORE

Aug 16, 2019 1:55 PM

Disappointed with Q1 results? Kotak Institutional Equities suggests this portfolio strategy post earnings

Earnings remained muted for the Nifty50 companies in the first quarter ended in June, witnessing an impact of weak demand, slow private sector capital expenditure, liquidity tightness and global trade issues.

Aug 16, 2019 1:23 PM

Glenmark Pharma shares hit 52-week low as global brokerages cut target after weak Q1##Glenmark Pharma shares hit 52-week low as global brokerages cut target after weak Q1

Shares of Glenmark Pharma fell as much as 6 percent to a 52-week low of Rs 360.35 on Friday, as global brokerages slashed price target on the stock after weak June-quarter earnings. At 12:23 PM, the stock was trading 5 percent lower at Rs 364 per share on the BSE as compared to a 0.12 percent (46 points) gain in Sensex. Glenmark Pharma reported a 53 percent year-on-year (YoY) fall in its consolidated net profit at Rs 109.28 crore despite a one-time forex gain of Rs 138.21 crore. Meanwhile, consolidated revenue grew 7.3 percent YoY to Rs 2,322.87 crore in Q1.

“Our first-quarter performance in key markets like India and Europe was impressive on account of new product launch and partnership deals. However, the overall performance was impacted due to moderate performance in the US and subdued performance in Latin America,” Glenn Saldanha, Chairman and MD at Glenmark Pharmaceuticals, said in a statement. READ MORE

Aug 16, 2019 1:03 PM

These 9 stocks have destroyed over 85% of investor wealth in last 1 year##These 9 stocks have destroyed over 85% of investor wealth in last 1 year

Indian equity markets have largely been volatile in the last one year as worries over the economic slowdown, liquidity crunch and weak earnings weighed on investors' risk appetite. The 30-stock Sensex fell 1.4 percent in the last one year while Nifty shed 3.8 during the same period. In the NSE500 index, 370 of 500 stocks have delivered negative returns in the last 1 year.

Some stocks on the index have seen far more erratic erosion in their value than others due on loan defaults and rating downgrades. The financial condition of these firms have deteriorated in the last one year, leaving investors in absolute shock. READ MORE

Aug 16, 2019 12:49 PM

Yes Bank top Nifty gainer as company plans more fundraising over next 12-18 months##Yes Bank top Nifty gainer as company plans more fundraising over next 12-18 months

Aug 16, 2019 12:34 PM

IDBI Bank shares plunge 12% as net loss widens in Q1, hits multi-year low##IDBI Bank shares plunge 12% as net loss widens in Q1, hits multi-year low

Shares of IDBI Bank plunged 12 percent on Friday after the public lender reported a net loss in the June 2019 quarter as bad loans increased. Intraday, IDBI Bank's share price fell as much as 11.94 percent to Rs 23.95 per share on the NSE. The Bank's consolidated net loss widened to Rs 3,821.27 crore as against the net loss of Rs 2,383.03 crore in the corresponding quarter last year. READ MORE

Aug 16, 2019 12:19 PM

Hero MotoCorp manufacturing plants to remain shut for 4 days till August 18, shares up 1%##Hero MotoCorp manufacturing plants to remain shut for 4 days till August 18, shares up 1%

The country's largest two-wheeler maker Hero MotoCorp on Friday said its manufacturing plants have been shut for four days till August 18 to as part of annual routine and also to adjust production in line with current market demand.

In a regulatory filing, Hero MotoCorp said its manufacturing facilities will be closed from August 15 to 18, 2019.

"While this has been part of the annual holiday calendar on account of Independence Day, Raksha Bandhan and the weekend, it also partly reflects the prevailing market demand scenario," the company added.

Hero MotoCorp further said production planning is a matter of advance monitoring of the market dynamics and prudent demand forecasting.

"This helps us to plan our production well in advance, thereby enabling us to stay flexible both in terms of volumes and production schedules," the company said.

Hero MotoCorp has been reducing its production due to decline in sales. In the April-July period this year, the two-wheeler market leader's production was at 24,66,802 units, down 12.03 per cent from the year-ago period.

Hero MotoCorp shares traded almost a percent up, quoting at Rs 2659.25 on NSE at 11.55 am. The broader Nifty50 index traded 12 points down at 11017.65.

Aug 16, 2019 11:56 AM

Major indices now trading just below flatline after paring opening losses of around 1% each##Major indices now trading just below flatline after paring opening losses of around 1% each

Aug 16, 2019 11:34 AM

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