Closing Bell: Sensex surges 453 points, Nifty near 11,600 on Brexit deal; Tata Motors jumps 13%##Closing Bell: Sensex surges 453 points, Nifty near 11,600 on Brexit deal; Tata Motors jumps 13%

Indian shares ended over 1 percent higher on Thursday on reports that UK PM Boris Johnson has approved the Brexit deal. Johnson said that UK and EU have agreed 'great new deal and urged Parliament to approve it at the weekend.

The Sensex ended the day with 453 points higher at 39,052, while the broader Nifty50 index added 122 points to end the day at 11,586. All sectoral indices, except Nifty IT, were trading in green.

Yes Bank, Tata Motors, Eicher Motors, IndusInd Bank, and Bajaj Auto were the top gainers on the Nifty50, while HCL Tech, Grasim, Vedanta, UltraTech Cement, and Bharti Infratel led the losses.

Tata Motors rose over 13 percent after UK PM Johnson said that they now have a 'great new Brexit deal that takes back control.'

Oct 17, 2019 3:35 PM

Here's what UK PM Boris Johnson tweeted post the deal##Here's what UK PM Boris Johnson tweeted post the deal

Oct 17, 2019 3:29 PM

Tata Motors surges in trade after UK PM Johnson says they now have a 'great new Brexit deal that takes back control'##Tata Motors surges in trade after UK PM Johnson says they now have a 'great new Brexit deal that takes back control'

Oct 17, 2019 3:16 PM

Market Update: Sensex surges 500 points, reclaims 39,000, Nifty nears 11,600 on Brexit deal optimism##Market Update: Sensex surges 500 points, reclaims 39,000, Nifty nears 11,600 on Brexit deal optimism

Indian shares extended gains on Thursday on reports that UK PM Boris Johnson has approved the Brexit deal. He said that Parliament should get Brexit done by Saturday. The BSE Sensex rallies 500 points reclaiming 39,000, while the Nifty50 index traded near 11,600.

Oct 17, 2019 3:15 PM

Breaking News: Brexit deal is done, says Reuters report##Breaking News: Brexit deal is done, says Reuters report

Oct 17, 2019 3:13 PM

Chennai Petro's gross refining margin for the quarter-ended September comes in at $2.66/bbl versus $1.41/bbl (QoQ)##Chennai Petro's gross refining margin for the quarter-ended September comes in at $2.66/bbl versus $1.41/bbl (QoQ)

Oct 17, 2019 3:10 PM

Pennar Industries jumps 8% in-trade##Pennar Industries jumps 8% in-trade

Pennar Industries jumped 8 percent intraday after bagging orders worth Rs 304 crore. The company in its press release said, "The pre-engineered building division received orders for construction of warehouses and factory buildings from Wipro Personal Care, Phoenix IVY, Specialised Anila Foods and SS Developers. The order book position for pre-engineered buildings business unit stands at Rs 430 crore."

Oct 17, 2019 2:58 PM

PVR Q2 Earnings: Net profit rises 41%, margin up 1,520 bps##PVR Q2 Earnings: Net profit rises 41% YoY, margin up 1,520 bps YoY

In its quarterly earnings, PVR reported a robust set of results in the second quarter. The company's net profit rose 41.2 percent year-on-year (YoY) to Rs 48 crore as against Rs 34 crore in the corresponding quarter last year. The revenues jumped 37.5 percent YoY to Rs 973.2 crore as compared to Rs 708 crore last year. EBITDA for the quarter came in at Rs 318 crore while EBITDA margin increased 1,520 basis points to 32.7 percent in the June-September quarter this financial year.

Oct 17, 2019 2:34 PM

Afternoon Session: Indian shares edge higher, Nifty over 11,550; YES Bank top gainer##Afternoon Session: Indian shares edge higher, Nifty over 11,550; YES Bank top gainer

Indian shares edged higher in Thursday's afternoon trade led largely by bluechips and foreign fund inflows amid hopes of upbeat corporate earnings.

The Sensex traded nearly 200 points higher, or 0.52 percent, at 38,799 at 1.03 pm. The 30-share benchmark S&P BSE frontline index had opened at 38,647 and has touched an intra-day high of 38,811 so far.

The broader NSE Nifty50 traded 40 points up, or 0.35 percent, near the day's high at 11,504, after starting at 11,466. Broader market indices also gained with the Nifty Midcap 100 and Nifty Smallcap 100 up 0.77 percent and 0.34 percent, respectively. Among sectors, bank, finance, FMCG, auto and capital goods advanced, while IT, pharma and metal declined.

Among gainers, Yes Bank surged over 13 percent, while Eicher Motors also rose 5 percent. IndusInd Bank, Britannia, Axis Bank, SBI and Asian Paints were other major gainers, rising by up to 4 percent. Vedanta, Hindalco, Grasim, Tata Steel, Tech Mahindra, ONGC, HCL Tech and Power Grid Corp declined by up to 3 percent.

Oct 17, 2019 2:14 PM

Here's a quick catchup of all market action of the day:##Here's a quick catchup of all market action of the day:

- Indian shares edged higher in Thursday's afternoon trade led largely by bluechips and foreign fund inflows amid hopes of upbeat corporate earnings.

- The Sensex traded over 300 points higher, while, Nifty50 was trading above 11,500.

- Among sectors, bank, finance, FMCG, auto and capital goods advanced, while IT, pharma and metal declined.

- Among gainers, Yes Bank surged over 13 percent, while Eicher Motors also rose 5 percent. IndusInd Bank, Britannia, Axis Bank, SBI and Asian Paints were other major gainers, rising by up to 4 percent.

Oct 17, 2019 2:13 PM

Eicher Motors jumps 4% after UBS upgrades the stock to 'buy'##Eicher Motors jumps 4% after UBS upgrades the stock to 'buy'

Shares of Eicher Motors rose over 5 percent after global brokerage UBS upgraded its rating on the stock to 'buy' from 'sell' and also raised target price to Rs 23,000, citing likely volume growth in second half of this financial year. The de-rating and downgrade cycle is coming to an end and there is a high conviction of sequential volume growth for Royal Enfield in second half of FY20, it said.

Oct 17, 2019 2:05 PM

JUST IN: Malvinder Singh & Shivinder Singh sent to Tihar jail, remanded to judicial custody till October 31##JUST IN: Malvinder Singh & Shivinder Singh sent to Tihar jail, remanded to judicial custody till October 31

Oct 17, 2019 1:45 PM

Midcap Momentum: 21 stocks rose over 10% in last one month##Midcap Momentum: 21 stocks rose over 10% in last one month

The broader markets gained momentum in the last one month, with the BSE Midcap rising more than 4 percent. In the BSE Midcap index, 21 stocks have risen over 10 percent, outperforming the benchmarks. Apart from the expected tax benefits, the stocks outperformed also due to likely stable earnings performance.

Stocks including Whirlpool, Berger Paints, ICICI Securities, Reliance Nippon AMC, Info Edge, 3M India, Colgate rose between 17-31 percent in the last one month. Concor, Indian Hotels, ABB India, Sun TV, GSK Consumer, Biocon, Kansai Nerolac, Motilal Oswal, P&G and Adant Enterprises were up over 10 percent each.

The BSE Midcap, however, underperformed Sensex, which rose 6 percent during the last one month. Major losers included Indiabulls Ventures, PNB Housing Finance, Indian Bank, RBL Bank, and Glenmark Pharma, down between 20-50 percent.

Nilesh Shah, MD of Kotak Mahindra Asset Management Company, said that the focus now is on small and midcap stocks where valuations still remain attractive and which are likely to be the biggest beneficiaries of improved liquidity in the economy. “It is more bottom-up company-specific rather than top-down sector-specific,” he said.

Oct 17, 2019 1:28 PM

PNB Housing Finance's shares surge 15% despite Morgan Stanley's 'underweight' call##PNB Housing Finance's shares surge 15% despite Morgan Stanley's 'underweight' call

The share price of PNB Housing Finance surged 15 percent intraday on Thursday despite Morgan Stanley maintaining an 'underweight' call on the stock.

Furthermore, the company in its BSE regulatory filing announced that it would consider the issuance of secured and unsecured non-convertible debentures aggregating up to Rs 10,000 crore in tranches.

In its second BSE filing, it declared the company's NPAs, AUM, disbursed loans and cash balance. During Q2FY20, the company's disbursed loans amounting to Rs 4,970 crore. Retail disbursements during the quarter were Rs 4, 718 crore and corporate disbursements were Rs 252 crore.

The Asset under Management (AUM) was Rs 89,471 crore, and the Gross NPA stood at 0.73 percent. The Cash and bank balances (including liquid investments) as on 30th September 2019 is Rs 4,279 crore with exposure in commercial paper reduced to Rs 4,506 crore from Rs 6,475 crore as on 30th June 2019.

Oct 17, 2019 12:44 PM

Oct 17, 2019 12:02 PM

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