Thank you readers and here are the major highlights from the markets today##Thank you readers and here are the major highlights from the markets today

Thank you reader and before we end our live coverage of the stock markets today; here are the main highlights and trends from Thursday's trade:

-Market Closes In The Green For The 1st Time This Week

-Sensex Gains 271 Points, Nifty 73 Points To Close Near Day’s High

-Midcaps Continue To Outperform Benchmarks, Index Up 259 Points

-Nifty Bank Advances 303 Points With All Its Constituents In The Green

-NMDC, NHPC, Power Grid Gain On The Back Of Nifty CPSE Inclusion

-L&T Gains Nearly 3 percent After Co Maintains FY20 Guidance

-PNB Hsg Slips 7 percent After Lower-than-expected Q3 Earnings

-Canara Bank Gains 1 percent While OBC Slips 1 percent After Earnings

-Market Breadth Favours Advances, Advance-Decline Ratio At 3:2

Jan 23, 2020 3:47 PM

Sensex heatmap at close: L&T, M&M, Airtel, SBI among top gainers, IT stocks among top losers##Sensex heatmap at close: L&T, M&M, Airtel, SBI among top gainers, IT stocks among top losers

Jan 23, 2020 3:40 PM

Sensex settles 271 points higher, Nifty at 12,180; Yes Bank rises 7%, IOC 6%; ZEEL dips 7%##Sensex settles 271 points higher, Nifty at 12,180; Yes Bank rises 7%, IOC 6%; ZEEL dips 7%

Indian shares ended with sharp gains on Thursday led by L&T, SBI and energy shares. The Sensex gained 271 points, or 0.66 percent, to settle Thursday's trade at 41,386. The Nifty rose 73 points, or 0.60 percent, to settle at 12,179. The Nifty MidCap 100 index rose 1.42 percent, while the banking gauge, Nifty Bank gained over a percent. Among shares, Yes Bank rose 7 percent, while Indian Oil Corp gained 7 percent. Zee Entertainment declined 7 percent.

Jan 23, 2020 3:39 PM

High infrastructure spend will benefit this midcap cement stock##High infrastructure spend will benefit this midcap cement stock

Upcoming union budget 2020 could see government reforms this year and the target would be infrastructure/real estate space, claimed most brokerages including Sharekhan, JM Financial, Elara Capital amongst others. One sector to directly benefit from this budget reform would be the cement space and one of the promising midcap stocks from this sector is JK Cement.

With a market capitalisation of Rs 10,041 crore, this midcap stock has delivered 80.52 percent returns in the last one year, better than any large-cap. In fact, in the last one year, UltraTech Cement and Shree Cement reported only 16 percent and 45 percent gains respectively. READ MORE

Jan 23, 2020 3:19 PM

These stocks hit their 52-week highs or lows on January 23

Indian equity benchmark indices BSE Sensex and NSE Nifty 50 were trading off day's high after significant selling in selective media and FMCG stocks.

Jan 23, 2020 3:11 PM

Oriental Bank of Commerce reports Q3 numbers with net profit rising 39% YoY; revenue slips nearly 7%##Oriental Bank of Commerce reports Q3 numbers with net profit rising 39% YoY; revenue slips nearly 7%

Jan 23, 2020 3:01 PM

European markets down on fear over virus, tariffs from US##European markets down on fear over virus, tariffs from US

European equity indices were lower today due to concerns over the fast-spreading coronavirus, and the fact that the Eurozone may be hit by tariffs by US President Donald Trump. Modest risk-aversion returned to markets as the death toll from the deadly coronavirus rose in China. According to reports, 17 people have died and over 470 people have been affected in China so far. The pan-European Stoxx 600 fell 0.4 percent.

Jan 23, 2020 2:58 PM

Bank Nifty could fall to 30,000 level in near term, says Gautam Shah of Goldilocks##Bank Nifty could fall to 30,000 level in near term, says Gautam Shah of Goldilocks

The Bank Nifty is likely to decline to the level of 30,000 in the near term as the large stocks like ICICI Bank and HDFC Bank are "top-heavy" at present, according to Gautam Shah, founder and chief strategist at Goldilocks Premium Research.

“In the past two years whenever the Bank Nifty has been on the weaker side, given the composition, the markets have never been stable and this might continue and in the near term you could see Bank Nifty come off to levels of 30,000," said Shah. READ MORE

Jan 23, 2020 2:49 PM

Budget 2020: Indian Railways again expects highest capex outlay##Budget 2020: Indian Railways again expects highest capex outlay

The Indian Railways is yet again expecting the highest-ever outlay for capital expenditure of over Rs 1.70 lakh crore from Union finance minister Nirmala Sitharaman, who is set to present the Budget on February 1.

According to a senior railway ministry official, the railways has got CAPEX of Rs 1.60 lakh crore in last year's Budget, while in the previous year it got Rs 1.48 lakh crore CAPEX."Thus this year also the railways will get over Rs 1.70 or 1.75 lakh crore outlay for CAPEX," said the official.

The official said that the budgetary allocation of the railways will also increase this year to over Rs 70,000 crore as compared to over Rs 65,837 crore previous year.

In 2018-19 Budget, the outlay for the railways was Rs 1.48 lakh crore while the Budget allocation was Rs 55,088 crore.

According to Railway Ministry officials, the railway infrastructure would need an investment of Rs 50 lakh crore between 2018 and 2030, thus the amount is all set to go up in this Budget also.

The official said in the Budget more focus will be on the modernization of the signaling system, construction of new tracks, doubling and tripling of tracks, rolling stock and telecom. Besides, there can be an announcement about new services in the Tejas Express and the Vande Bharat Express.

Before 2016, the Union Budget and Railway budget were presented separately in India. However, the 92-year tradition was scrapped by the then Finance Minister Arun Jaitley in 2016 after which, both the budgets have been merged and are presented the same day.

Jan 23, 2020 2:29 PM

Jan 23, 2020 2:09 PM

This stock has given more than 200% returns in just three years##This stock has given more than 200% returns in just three years

Tata Global Beverages (TGB) share price hit a new 52-week high of Rs 399.40, rising as much as 4 percent in intra-day trade on Thursday. The stock quoted at Rs 395 apiece on the BSE, up 2.65 percent at 1:29 pm.

The stock has risen 24 percent so far this year. The one-year, three-year, five-year and 10-year returns for investors too are consistent with the scrip giving 88 percent, 210 percent, 146 percent and 306 percent, respectively during the period. During the same period, the Sensex has returned 14 percent, 52 percent, 40 percent and 144 percent, respectively.

The company informed exchanges last week that the National Company Law Tribunal (NCLT) has approved the demerger of consumer products business of Tata Chemicals. READ MORE

Jan 23, 2020 2:00 PM

JSW Steel capital raising plan##JSW Steel capital raising plan

The committee of directors of the company approved the allotment of 10,000 rated, listed, secured, redeemable, nonconvertible debentures bearing a face value of Rs 10,00,000 each, at par aggregating to Rs 1000,00,00,000.

The steel giant is planning to raise Rs 1,000 crore.

At 01:48 pm, the shares were trading 0.49 percent to Rs 267.15 per share on the NSE.

Jan 23, 2020 1:49 PM

Earnings Corner: Canara Bank's net profit rises nearly 4% YoY in Q3FY20##Earnings Corner: Canara Bank's net profit rises nearly 4% YoY in Q3FY20

Canara Bank in its October-December quarter posted a net profit rise of 3.8 percent YoY at Rs 329.6 crore.

In the same quarter last year, the Bank reported a net profit of Rs 317.50 crore.

The net interest income (NII) of the Bank slipped 10 percent YoY to Rs 3,435 crore as against Rs 3,813.8 crore in the corresponding quarter last year.

Net NPA in Q3FY20 improved by 4.3 percent sequentially while gross NPA rose 5.3 percent QoQ.

Slippages during the quarter increased to Rs 4,800 crore v/s Rs 2,602 crore QoQ. due to DHFL’s exposure of Rs 2,500 crore (term loan & investment into bonds).

Jan 23, 2020 1:45 PM

Jan 23, 2020 1:31 PM

Here's a quick catchup post of what happened in the markets so far##Here's a quick catchup post of what happened in the markets so far

1. The Indian market was trading higher on the back of gains in realty and banking stocks.

2. At 1:28 pm, the Sensex was trading 253.79 points or 0.62 percent higher at 41,369.77 while the Nifty50 index was trading at 12,175.40, up 68.50 points or 0.57 percent.

3. Broader indices traded higher in comparison to the equity indices, with Nifty Midcap100 up 1.58 percent and Nifty Smallcap100 up 0.62 percent.

4. YES Bank, Indian Oil Corporation, L&T, Titan and M&M were the Nifty50 top gainers while Zee Entertainment, UPL, Power Grid, Asian Paints and Tech Mahindra remained the top losers.

Jan 23, 2020 1:30 PM

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