Closing Bell: Sensex ends at record closing high, Nifty above 12,000; realty stocks rise post FM booster##Closing Bell: Sensex ends at record closing high, Nifty above 12,000; realty stocks rise post FM booster

- Indian shares ended higher on Thursday with BSE Sensex at record closing high and Nifty above 12,00-mark as sentiment was lifted post government's boost to the realty sector. Finance Minister Nirmala Sitharaman announced that the government will invest Rs 10,000 crore in the fund to help ease financial stress on the real estate sector.

- The Sensex ended the day 184 points higher to end at record closing high of 40,654 as compared to its previous closing high of 40,469.78 hit on November 6. Meanwhile the broader Nifty50 index added 46 points to end the day at 12,012.

- The move pushed the Nifty realty index as much as 3.1 higher to a near four-month peak in intraday deals. The sector settled around 1 percent higher with real estate firms such as Indiabulls Realestate, Phoenix, Prestige Estates Projects and Sobha up between 2-5 percent. Infrastructure firm NBCC (India) surged over 8 percent post the announcement.

- Meanwhile, on Nifty, Bharti Infratel, Sun Pharma, IndusInd Bank, Hindalco, and JSW Steel were the top gainers, while UPL, Yes Bank, BPCL, GAIL, and Cipla led the losses.

- Shares of Indiabulls Housing Finance surged 8.8 percent post government's realty push and its robust September-quarter earnings.

Nov 7, 2019 3:36 PM

Possible to sustain divestment target of Rs 1 lakh crore per annum for the next decade, says Nirmal Bang##Possible to sustain divestment target of Rs 1 lakh crore per annum for the next decade, says Nirmal Bang

It is possible to sustain the divestment target of Rs 1 lakh crore per annum over the next decade, according to a report by Nirmal Bang. Despite the significant wealth locked in central public sector enterprises or CPSEs, divestments in India have had a checkered history. According to the report by Nirmal Bang, in the period between FY92 and FY19, Rs 4.5 lakh crore was raised through divestments. However, for most parts, divestments have fallen short of targets. There are only three years since FY2000 — FY04, FY18, and FY19, in which revenue exceeded the target. READ MORE

Nov 7, 2019 3:26 PM

Will fund infusion trigger realty sector's revival? Builders, analysts pose contrary views

Is the alternative investment fund infusion for the realty sector enough for the real estate sector?

Nov 7, 2019 3:11 PM

Sun Pharma Q2 Earnings: Consolidated revenue up 17%; net profit at Rs 1,065 crore##Sun Pharma Q2 Earnings: Consolidated revenue up 17%; net profit at Rs 1,065 crore

Sun Pharmaceuticals on Thursday reported a robust set of Q2 numbers with consolidated net profit at Rs 1,065 crore as against the loss of Rs 270 crore in the same quarter last year.

Consolidated revenue rose 17 percent YoY to Rs 8,123.35 crore as compared to Rs 6,937.63 crore last year.

EBITDA improved 16.9 percent YoY to Rs 1,790 crore v/s Rs 1,531 crore . EBITDA margin came in flat at 22 percent YoY.

At 02:58 pm, the stock price was trading 1.89 percent higher at Rs 436 per share on the NSE.

Nov 7, 2019 2:58 PM

MSTC's shares climbed 20% after signing MoU for e-auction services##MSTC's shares climbed 20% after signing MoU for e-auction services

The share price of MSTC rallied 20 percent on Thursday after the company signed Memorandum of Understanding with Burn Standard Company Limited for e-auction services for the sale of movable/immovable assets.

The agreement shall remain valid up to March 31, 2021, until it is terminated by either party by giving three months' notice.

At 2:40 pm, the share price was trading 20 percent higher at Rs 147.45 per share on the NSE.

Nov 7, 2019 2:39 PM

HPCL Q2 earnings: Calculated gross refining margin comes in at $2.60/bbl##HPCL Q2 earnings: Calculated gross refining margin comes in at $2.60/bbl

Nov 7, 2019 2:22 PM

Yes Bank share price dips 4% after Moody's places rating under review for downgrade##Yes Bank share price dips 4% after Moody's places rating under review for downgrade

Share prices of Yes Bank declined 4 percent intraday on November 7 after Moody's had placed bank's ratings under review for downgrade. The Ba3 rating of the bank can be downgraded because of the weak September quarter earnings and the bank managing to get only a commitment for $1.2 billion in funding recently

Nov 7, 2019 2:12 PM

Ipca Laboratories Q2 net profit rises more than 60% on a yearly basis##Ipca Laboratories Q2 net profit rises more than 60% on a yearly basis

Nov 7, 2019 1:54 PM

Qatar Airways CEO says interested in buying stake in IndiGo, not Air India##Qatar Airways CEO says interested in buying stake in IndiGo, not Air India

Qatar Airways on Thursday said that the airline is keen to buy stake in IndiGo but this is not the right time for a deal as the Indian carrier is grappling with internal issues. Qatar Airways also added that it is no longer interested in buying a stake in India's national carrier Air India. "We are always keen to buy stake in successful airlines whether it is IndiGo or some other airline ... this is not the right time as there is some disagreement between the airline's stakeholders and we will wait for those issues to get resolved before making decision of the future," Qatar Airways CEO Akbar Al Baker said. READ MORE

Nov 7, 2019 1:39 PM

Godrej Consumer's Q2 volume growth highest in last five quarters, says CEO##Godrej Consumer's Q2 volume growth highest in last five quarters, says CEO

Godrej Consumer reported a mixed quarter. While revenues missed estimates, volumes and EBITDA came in-line with expectations and international business surprised positively with a strong performance. MD and CEO Vivek Gambhir said the company is pleased with the 7 percent volume growth in Q2—highest in the last five quarters.

It is encouraging to see that the volume growth was broad-based across categories, he said. It has been driven by innovation and distribution, said Gambhir in an interview with CNBC-TV18. Going forward, hopeful that the company will strive for high single-digit volume growth. READ MORE

Nov 7, 2019 1:21 PM

Govt's Rs 25,000 crore real estate package will help ease distress in the sector, but time is of essence, say analysts

As per analysts, finance minister Nirmala Sitharaman's announcement is a positive move for the liquidity-starved real estate sector.

Nov 7, 2019 1:03 PM

Indiabulls Housing Finance shares jump 17% after Q2 earnings, govt package##Indiabulls Housing Finance shares jump 17% after Q2 earnings, govt package

Shares of Indiabulls Housing Finance surged nearly 17 percent after the company disclosed its financial results for the quarter ended September 30. The housing finance company's gross non-performing assets declined by 3.1 percent to Rs 1,611 crore. Indiabulls Housing Finance's consolidated Q2 net profit fell 32 percent to Rs 702.18 crore year on year, while total income fell 24 percent to Rs 3,420.45 crore. READ MORE

Nov 7, 2019 12:46 PM

IndiGo signs one-way codeshare pact with Qatar Airways##IndiGo signs one-way codeshare pact with Qatar Airways

IndiGo on Thursday signed a one-way codeshare agreement with Qatar Airways which will enable the latter to place its code on IndiGo's Doha-Delhi and Mumbai-Hyderabad flights. This will be the second codeshare agreement for IndiGo after Turkish Airlines. "We believe this agreement will be just the first step in strengthening our relationship and we very much look forward to working together to harness our complementary strengths and resources, to enhance the travel experience for our passengers around the world," Qatar Airways Group chief executive, Akbar Al Baker said. READ MORE

Nov 7, 2019 12:28 PM

City Union Bank sees marginal increase in asset quality##City Union Bank sees marginal increase in asset quality

Nov 7, 2019 12:12 PM

Rs 25,000 crore AIF wouldn't move the needle for realty, says Saurabh Mukherjea of Marcellus##Rs 25,000 crore AIF wouldn't move the needle for realty, says Saurabh Mukherjea of Marcellus

The Rs 25,000 crore alternate investment fund announced by the government to help complete the stalled housing project would not "move the needle that much for a giant real estate industry in the country", said Saurabh Mukherjea, founder of Marcellus Investment Managers. “The announcement yesterday is a shot in the arm not just for real estate developers but also for the entire housing finance industry, NBFCs which have financed real estate developers. The only word of caution is the amount looks modest," said Mukherjea in an interview with CNBC-TV18. READ MORE

Nov 7, 2019 11:55 AM

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