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 Gains For Third Consecutive Day; Sensex & Nifty At Record Closing Highs

- Nifty Closes Above 12,300 For The First Time Ever, Up 73 Points Today

- Sensex Moves 260 Points Higher To Post Record Close Of 41,859

- Midcap Index Gains For 5th Straight Day, Up 623 Points In 5 Sessions

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

- All Sectoral Indices Close Higher; Realty and IT Top Gaining Indices

- Infosys Surges Over 4 percent After In-line Q3 and Audit Panel’s Clean Chit To CEO

- IndusInd Bank Ends With A Gain Of 3 percent Ahead Of Q3 Earnings Tomorrow

- Yes Bank Slips 6 percent On Fundraising Uncertainty

- Avenue Super Up Over 2 percent After Reporting An All-round Beat In Q3

Jan 13, 2020 3:49 PM

Closing Bell: Sensex, Nifty end at record close; Infosys rises 4.5% post Q3 numbers##Closing Bell: Sensex, Nifty end at record close; Infosys rises 4% post Q3 numbers

Indian shares ended at record close on Monday, with Infosys leading gains, rising 4.5 percent after the IT bellwether beat quarterly profit estimates and cleared its top executives of financial misconduct allegations. ​Infosys, whose quarterly net profit rose 23.5 percent, said on Friday its probe exonerated CEO Salil Parekh and CFO Nilanjan Roy of all allegations, including accusations that the duo prevented employees from presenting data on large deals.

The Sensex settled 260 points higher at a record close of 41,859, while Nifty also ended at a new closing high of 12,329, up 73 points. In intra-day deals, the Sensex rose as much as 300 points to a new high of 41,899 versus its previous high of 41809.96, hit on December 20. Nifty also hit a record high for the second straight session. It jumped 81 points to its record high of 12,337.75.

Among stocks, Infosys, Coal India, IndusInd Bank, GAIL and Bharti Airtel were the top gainers on Nifty, while Yes Bank, Bharti Infratel, UPL, TCS, and Eicher Motors led the losses. All sectoral indices were in the green for the day. Major buying was seen in Nifty IT, which rose 1.7 percent, while Nifty Metal and Nifty FMCG also added 1.1 percent. Nifty Bank and Nifty Pharma was up 0.25 percent for the day.

Jan 13, 2020 3:35 PM

Is 2020 the year of midcaps? Initial trends indicate so

Jan 13, 2020 3:19 PM

Tata Elxsi rises 6% after robust December quarter numbers ##Tata Elxsi rises 6% after robust December quarter numbers

Tata Elxsi rose 6 percent after the company's Q3FY20 net profit rose 51.4 percent at Rs 75.4 crore versus Rs 49.8 crore in Q2FY20. Revenue of the company rose 9.7 percent at Rs 423.4 crore versus Rs 386 crore, QoQ. Earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 33.9 percent to Rs 94.2 crore, while margin was up 400 bps at 22.2 percent, QoQ.

Jan 13, 2020 2:59 PM

Jan 13, 2020 2:42 PM

This stock surged from Rs 340 to Rs 1,490 in 10 years, and experts see further upside##This stock surged from Rs 340 to Rs 1,490 in 10 years, and experts see further upside

Emerging as the largest Indian private hospital player, the share price of Apollo Hospitals has rallied over 300 percent in the last 10 years. The company is also a market leader in the private healthcare space operating a chain of 70 hospitals and over 2,300 pharmacies.

The stock has risen as much as 334 percent in the last 10 years, rising from around Rs 343 in 2010 to Rs 1,490 currently. The stock hit its 52-week high of Rs 1,574.90 on September 12, 2019, and a 52-week low of Rs 1,083 on February 18, 2019. In the last one year, the stock added over 15 percent. According to analysts, the company's market leadership is driven by strong brand equity and a superior quality of service. They expect further upside in the stock going ahead. READ MORE

Jan 13, 2020 2:25 PM

Nusli Wadia withdraws criminal defamation case against Ratan Tata on SC's advice##Nusli Wadia withdraws criminal defamation case against Ratan Tata on SC's advice

Nusli Wadia, a former independent director on the boards of Tata Motors, Tata Steel and Tata Chemicals, has withdrawn a criminal defamation case he had filed against Tata Sons and its board members and executives including Ratan Tata. Wadia, in 2016, had filed a defamation case against Tata Sons, the holding company of the Tata Group, and 11 of its board members and executives.

Wadia had said that Tata Sons and the individuals cited, including Ratan Tata, had defamed him “by printing, publishing and circulating per se false, frivolous, baseless, incorrect, libellous and defamatory material concerning the Complainant”. Ratan Tata and Tata Sons directors submitted that there was never any intent to defame Wadia. READ MORE

Jan 13, 2020 2:02 PM

Mid-cap and small-cap stocks to outperform large-caps, says Jyotivardhan Jaipuria of Valentis Advisors

Jan 13, 2020 1:46 PM

Infosys chairman Nandan Nilekani defends concealing whistleblowers' complaints##Infosys chairman Nandan Nilekani defends concealing whistleblowers' complaints

The global software major was absolutely right in concealing the whistleblowers' complaints from the regulators and the media, Infosys chairman Nandan Nilekani has said. "It is not the job of companies to take a whistleblower's complaint coming every morning and issue a media release on it. "That is going to create a new set of issues. So, we did absolutely the right thing," Nilekani told IANS, which red-flagged the complaints in October and the co-founder acknowledged it later. Admitting that a company was duty-bound to take on record a whistleblower's complaint, Nilekani said a report was made on it (plaint) after due diligence and investigation by an audit committee, set up to probe the charges against its CEO Salil Parekh and CFO Nilanjan Roy. READ MORE

Jan 13, 2020 1:32 PM

Walmart fires 56 employees, including 8 in senior management##Walmart fires 56 employees, including 8 in senior management

he Indian unit of Walmart, the world's largest retailer, has laid off about a third of its top executives at its India headquarters in Gurgaon. The company said it "let go" 56 associates--eight in senior management and 48 in the middle and lower management-- as part of its review to operate more efficiently. All the sacked employees have been offered enhanced severance benefits and outplacement services, according Walmart India.

The company denied media reports that a second round of layoffs is due in April. The move underscores the struggles Walmart has faced in expanding its wholesale business in India. The Bentonville, Ark. based company currently operates 28 wholesale stores where it sells goods to small shopkeepers, and not to retail consumers. READ MORE

Jan 13, 2020 1:14 PM

Avenue Supermarts up over 3% on strong Q3FY20 earnings##Avenue Supermarts up over 3% on strong Q3FY20 earnings

Shares of Avenue Supermarts gained over 3 percent on Monday after the company reported strong earnings for the third quarter of fiscal 2020. The stock surged 3.44 percent and touched intraday high of Rs 1,941.40 on the BSE. The DMart retail chain operator’s standalone net profit in Q3FY20 rose 53.3 percent YoY to Rs 394.3 crore. The company reported a net profit of Rs 257.1 crore in the same quarter last year. READ MORE

Jan 13, 2020 12:58 PM

Jan 13, 2020 12:41 PM

Budget 2020: Raghuram Rajan expects measures to boost rural demand

Jan 13, 2020 12:23 PM

Here's a quick catchup of live market updates##Here's a quick catchup of live market updates

Benchmark indices are trading near the record high levels with Nifty holding above 12,300 level. The Sensex is trading over 270 points higher, while the Nifty is up over 70 points. About 1387 shares have advanced, 703 shares declined, and 131 shares are unchanged. Major buying was witnessed in IT, FMCgGand banking sectors. Among stocks, Infosys rose over 5 percent post Q3.

Jan 13, 2020 12:07 PM

Yes Bank former director seeks SEBI probe into insider trading##Yes Bank former director seeks SEBI probe into insider trading

Former head of the audit committee of the Yes Bank board Uttam Prakash Agarwal has filed a complaint with the Securities and Exchange Board of India (SEBI) seeking a probe into "the illegal gains made by a certain set of people" in giving misleading information to the markets and the people on potential investors, including Citax and Erwin Singh Braich. Though Agarwal, who recently resigned as the independent director from the Yes Bank board and head of the audit committee, has not spelled it out, it implies to insider- trading, which needs to be investigated by SEBI. READ MORE

Jan 13, 2020 11:48 AM

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