Thank you, readers! Here are the main highlights from today’s trading session##Thank you, readers! Here are the main highlights from today’s trading session

- Market Closes Lower But Off Lows, Nifty Holds 12,000

- Reliance Helps Market Recover In The Last hour, Stock Up 2 Percent From Lows

- Sensex Gains 181 Points From Lows To End The Session At 40,979

- Midcap Index Ends 176 Points In The Red, Nifty Bank Slips 144 Points

- Market Breadth Favours Declines; Advance-Decline Ratio At 1:2

- All Indices Close Lower, Metal, Auto Top Losers On Coronavirus Impact

- 39 Of 50 Nifty Stocks Close In The Red, M&M, Zee Ent, Tata Steel Top Losers

- Union Bank Surges Over 5 Percent On Improved Bottomline In Q3

- Avenue Supermarts Up Over 8 Percent To Trade At A Record High

- GAIL Slips Nearly 1 Percent Despite Operationally Strong Q3

- MRF Up 5 Percent From Lows After Reporting 140 bps Improvement In Margin

- Bharat Forge Ends In the Red But Off Lows After Below Expected Earnings

- Grasim Closes At Day’s Low On Lower-than-expected Q3 Earnings

Feb 10, 2020 3:44 PM

Closing Bell: Sensex, Nifty end lower as coronavirus death toll rises; Nifty Metal index down 3%##Closing Bell: Sensex, Nifty end lower as coronavirus death toll rises; Nifty Metal index down 3%

Indian markets ended lower on Monday, dragged by metal stocks, as rising death toll in China raised alarm bells about the severity of the coronavirus outbreak and its economic impact. The BSE Sensex ended 162 points lower at 40,980, while the Nifty50 index settled 67 points lower at 12,031. Meanwhile, broader markets underperformed benchmarks with Nifty Midcap index down 0.9 percent and Nifty Smallcap indices falling 1.1 percent.

The Nifty Metal index, was the worst-performing sector for the day, down over 3 percent after data from China’s metal association showed the country’s nonferrous metal output will fall at least 10 percent year-on-year in February, before recovering in the second quarter, due to the virus outbreak. Tata Steel, SAIL, NALCO, Coal India, Hindalco, and Vedanta fell over 3 percent each.

Other sectors also ended the day in the red. Nifty Auto also declined 2.5 percent, and Nifty Pharma and Nifty Realty shed 1 percent each. Nifty FMCG and Nifty Bank lost 0.9 percent and 0.4 percent, respectively. ​UPL, Bajaj Finance, TCS, Kotak Bank, and Reliance Industries were the top gainers on the Nifty50 index, while Zee, M&M, Tata Steel, Grasim, and Bharti Infratel led the losses.

Feb 10, 2020 3:35 PM

Midcaps, smallcaps show trend reversal after 2 years of underperformace - top stocks to invest in

Feb 10, 2020 3:23 PM

Bharat Forge Q3 net profit falls 29% YoY to Rs 127.8 crore, misses estimates##Bharat Forge Q3 net profit falls 29% YoY to Rs 127.8 crore, misses estimates

Pune-based Bharat Forge Ltd on Monday reported a 29.7 percent fall in net profit for the third quarter of financial year 2019-20 at Rs 127.8 crore as against Rs 310 crore in the same period last year. CNBC-TV18 poll had estimated a net profit of Rs 168.7 crore. A total revenue from operations in Q3FY20 declined 36.4 percent to Rs 1,077 crore as compared to Rs 1,692.5 crore in Q3FY19. Analyst poll had estimated topline of Rs 1,250 crore.

“The quarter gone by was a repeat of the previous quarter in terms of weak end market demand and financial performance. Domestic and export revenues were down more than 30 percent in Q3FY20 compared to the same quarter previous year,” said Baba Kalyani, CMD, Bharat Forge. READ MORE

Feb 10, 2020 3:13 PM

M&M shares decline 6% post weak December-quarter earnings##M&M shares decline 6% post weak December-quarter earnings

Shares of Mahindra and Mahindra declined over 6 percent on Monday after the company reported a 73 percent fall in net profit at Rs 380 crore in Q3 versus a net profit of Rs 1,396 crore in the year-ago quarter. Revenue from operations stood at Rs 12,120 crore during the quarter compared with Rs 12,892.5 crore a year ago, a decline of 6 percent. The operating profit margin rose to 14.8 percent from 13.2 percent in the same quarter last year. READ MORE

Feb 10, 2020 3:02 PM

Q3FY20 earnings comparison: PVR or Inox — Which multiplex performed better?##Q3FY20 earnings comparison: PVR or Inox — Which multiplex performed better?

Looking at the weak macro environment conditions across the country, weak estimates were built in for many companies for their Q3 earnings. However, with better cost management, few of those companies managed to outperform in their specific industries. The same was the case with multiscreen players. Street expectations were muted for PVR Ltd as well as INOX Leisure on quite a few factors like weak content and challenging macro environment impacting advertisement revenues.

PVR Ltd actually missed the estimates largely due to weak southern performance but INOX leisure delivered better than expected Q3FY20 earnings. It is noteworthy that the base for these companies was high as Q2FY20 and Q3FY19 were exceptionally robust on strong content. In Q3FY20, the content was limited to releases like War, Bala, Good Newz, Housefull 4 and Dabangg 3. READ MORE

Feb 10, 2020 2:45 PM

Feb 10, 2020 2:26 PM

Earnings Corner: MRF reports a 17% decline in net profit on YoY basis##Earnings Corner: MRF reports a 17% decline in net profit on YoY basis

(On a consolidated basis YoY)

1. Net Profit slips 17 percent at Rs 241.3 crore v/s Rs 291 crore

2. Revenue down 0.5 percent at Rs 4,076 crore Vs Rs 4,095 crore

3. EBITDA rises 9 percent at Rs 622.2 crore v/s Rs 570.6 crore

4. EBITDA margin came in at 15.3 percent v/s 13.9 percent

5. Other income at Rs 74 crore v/s Rs 126.4 crore

Feb 10, 2020 2:08 PM

This stock has doubled investors’ wealth in less than two years##This stock has doubled investors’ wealth in less than two years

The shares of footwear brand Bata India have surged over 150 percent since February 2018, thus doubling investors’ money in less than two years. The stock was trading at Rs 1,826 on the NSE at 12:25 pm on Monday with a market capitalisation of Rs 23,469 crore. The company reported a 14.75 percent rise in its consolidated net profit to Rs 118.26 crore for the third quarter of fiscal 2020 compared to Rs 103.05 crore in the year-ago period. Consolidated revenue from operations during the quarter stood at Rs 830.82 crore as against Rs 779.79 crore, YoY. The company reported same-store sales growth of 2 percent. READ MORE

Feb 10, 2020 1:50 PM

SAIL slumps 5% on reports that the government may sell 5% stake by March 2020##SAIL slumps 5% on reports that the government may sell 5% stake by March 2020

Shares of state-owned Steel Authority of India Ltd (SAIL) slumped 4.8 per cent to Rs 46.3 on the BSE on Monday amid reports that the government could off-load 5 per cent of its stake in the company, through an offer for sale, which could fetch about Rs 1,000 crore to the exchequer. "We are looking at a 5 per cent stake sale via offer for sale (OFS), but we will assess investor demand in the roadshows... Officials from the Department of Investment and Public Asset Management (DIPAM) and steel ministry are planning roadshows in Singapore and Hong Kong," news agency PTI reported, quoting an unnamed government official.

Feb 10, 2020 1:34 PM

Feb 10, 2020 1:16 PM

Automakers consider moving to Supreme Court for BS-VI deadline extension##Automakers consider moving to Supreme Court for BS-VI deadline extension

Automakers in the country are likely to miss the March 31 deadline for transition to BS-VI emission norms and are considering moving the Supreme Court for an extension, people aware of the development have told CNBC-TV18. The coronavirus in China has impacted the auto industry supply chain globally. According to OEMs, they are in a precarious situation. While they are trying to stop production of BS-IV vehicles, they have allocated numbers which they have to produce in February. But the manufacturing is being impacted because of spare part supply issue in China, leading to mismatched inventory and losses for automakers. READ MORE

Feb 10, 2020 12:59 PM

Plugging India's trade deficit: How to give exports a leg up

Feb 10, 2020 12:44 PM

Opportunities across entire midcap space, says Sundaram Mutual Fund##Opportunities across entire midcap space, says Sundaram Mutual Fund

There are opportunities across the entire midcap space "given that India is a big growth market", according to S Krishna Kumar, CIO-Equity at Sundaram Mutual Fund. Kumar said that if one is able to identify the right company, he can stay invested with conviction across a 5-year timeframe as the company would turn a largecap firm over a period of time. "Therefore, investors should focus on to build confidence in the business models and the management and stay invested without worrying about short-term corrections and movements in the market,” said Kumar.

Talking about auto space, Kumar said, “We expect the recovery in cars and two-wheelers will be smoother going into the New Year but the commercial vehicles would see a bit of lagged response in the second half of the year; we will see some improvement in commercial vehicle offtake. The first half is going to be a bit of a washout. READ MORE

Feb 10, 2020 12:27 PM

Feb 10, 2020 12:11 PM

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