Here are the highlights from the market's performance this week:

Sensex Down 0.4%, Nifty Down 0.3%,

Nifty Bank Down 0.3%, Nifty Midcap Up 1.7%,

Nifty Media Up 4.8%, Nifty Metal Up 3.9%,

Nifty Pharma Up 2.6%, Nifty Auto Up 1.6%,

Nifty Realty Up 1.6%, Nifty Junior Up 0.4%,

Nifty IT Up 0.1%, Nifty PSU Bank Down 0.2%,

Nifty Infra Down 0.3%, Nifty Finance Down 0.6%,

Nifty Energy Down 0.7%, Nifty FMCG Down 0.9%

Nifty Gainers

JSW Steel Up 10.8%, L&T Up 7.7%,

Zee Ent Up 7.1%, Adani Ports Up 6.5%,

Cipla Up 6.4%, Tech Mahindra Up 5.1%,

Tata Motors Up 4.6%, Hindalco Up 3.8%,

Bharti Infratel Up 3.8%, Hero Moto Up 3.6%

Nifty Losers

Eicher Motors Down 7.7%, Bharti Airtel Down 5.8%,

Bajaj Fin Down 3.9%, Britannia Down 3.4%,

Bajaj Finserv Down 3.3%, HDFC Life Down 3.1%,

Kotak Mahindra Bank Down 2.6%, Nestle India Down 2.5%,

TCS Down 2.2%, ONGC Down 2%

Midcap Gainers

Elgi Equip Up 43%, eClerx Services Up 40.3%,

Ramco Systems Up 27.6%, Redington Up 25.4%,

Hind Rectifiers Up 23.6%, Ashoka Buildcon Up 22.4%,

Godawari Power Up 21.2%, Indiabulla Ventures Up 21%,

V2 Retail Up 20.9%, Thomas Cook Up 19.6%

Midcap Losers

Alok Ind Down 11.7%, Varroc Engg Down 10.8%,

Balaji Tele Down 10.4%, Excel Ind Down 9%,

Sharda Cropchem Down 7.6%, RBL Bank Down 7%,

Dishman Down 6.2%, Bank Of Baroda Down 4.6%,

SH Kelkar Down 3.6%, Balkrishna Ind Down 3%

Aug 14, 2020 3:44 PM

Here are the key highlights from today's trading session:

1. Sharp decline in last hour of trade; indices turn negative for the week

2. Nifty sees biggest intra-day fall in 8 sessions; private banks drag index the most

3. Nifty Bank slips over 3% from top; HDFC Bank, ICICI Bank contribute half of losses

4. Midcap Index slips nearly 400 points to end at 11,181

5. Eicher Motors ends 7% lower after VECV reports a loss amid weak CV demand for Q1

6. Six out of 12 Nifty gainers today are either pharma or metal stocks

7. Ashok Leyland holds on to gains in a falling market after CLSA upgrades stock to buy

8. Tata Steel higher after management says Q2 EBITDA/tonne will be up by at least Rs 3,000

9. Hindalco reports Q1 aluminium EBITDA at Rs 856 crore v/s Rs 853 crore YoY; stock up 0.3%

10. 34.2% margin for Q1 v/s 27.4% YoY sends NTPC higher; stock up 1%

11. Market Breadth turns in favour of declines for 1st time this week; ratio at 2:3

Aug 14, 2020 3:42 PM

Closing Bell: Sensex, Nifty end week with losses led by auto stocks; Eicher Motors slips 7%

Indian shares pared all opening gains to end lower on Friday dragged by selling in auto stocks, primarily Eicher Motors and Tata Motors. Banks also contributed to the losses including Axis Bank, SBI and ICICI Bank, which fell over 3 percent.

At close, the Sensex closed 433 points or 1.13 percent lower to 37,877 while the Nifty50 index ended at 11,178, down 122 points. Broader indices remained in-line with the benchmarks, ending over a percent lower.

Barring metal and pharma indices, all sectors ended in deep red. Nifty Auto remained the worst-performing sector of the day, down 2.71 percent.

JSW Steel, Coal India, Sun Pharma, Cipla and NTPC were the Nifty50 top gainers while Eicher Motors, Tata Motors, M&M, Axis Bank and Bajaj Finance remained the index top losers.

Aug 14, 2020 3:38 PM

Rupee Update: The Indian currency ended marginally lower on Friday amidst volatile equity market. The rupee ended at 74.90 against the US dollar as compared to Thursday's close of 74.84.

Aug 14, 2020 3:23 PM

COVID cases on JSW Steel's Ballari campus nears 1,000 mark, active cases at 97

The total number of COVID-19 cases at JSW Steel's campus in Karnataka's Ballari district is nearing 1000, even though the active cases remain lower at 97. As per district officials, 909 positive cases have been recorded as of August 9 at the JSW Steel township, which houses 30,000 employees and their families.

However, the recovery has been high with only 97 active cases as of August 9 and one COVID-related death on the campus so far. The company said it has been able to improve its average capacity utilization improved in July to 83 percent from 76 percent in June 2020. Read full report here.

Aug 14, 2020 3:14 PM

Supreme Court AGR case latest updates: Justice Arun Mishra-bench likely to rule on dues recovery from telcos, staggered payment timeline soon

Justice Arun Mishra-led Supreme Court bench will resume hearing in the issue of adjusted gross revenue (AGR) dues from telecom companies. The apex court has has estimated AGR dues of Rs 40,000 crore for telcos under insolvency. The court may also give clarity on the staggered payment schedule on the government's petition to allow telecom companies such as Bharti Airtel, Vodafone Idea and others to make staggered payments of the AGR over a period of the 20-year period. On July 20, the apex court had reserved its order while that there is "no going back" on the DoT demand on the AGR issues and it will only consider the timeline. The AGR dues relate to an apex court ruling on October 24 last year when it upheld the government's broader definition of AGR, on which it calculates various levies like spectrum usage charges and license fees. Follow live updates here.

Aug 14, 2020 3:10 PM

NTPC Q1FY21 | The company's consolidated net profit 5.9 percent YoY to Rs 2,948.9 crore versus Rs 3,132.7 crore and revenue was down 2.6 percent to Rs 26,194.8 crore as against Rs 26,886.2 crore. The Q1 profit included an exceptional loss of Rs 836.8 crore.

Aug 14, 2020 2:58 PM

Q1FY21 Earnings | Hindalco posts net loss of Rs 40 crore; revenue drops 26% YoY to Rs 7,420 crore

Hindalco Industries reported a standalone net loss of Rs 40 crore in the first quarter of fiscal 2021 as against a net profit of Rs 23 crore in the same period last year. The company’s loss was more than CNBC-TV18 analysts poll estimates of Rs 19 crore. The Q1 losses included one-time loss at Rs 35 crore.

The company’s standalone revenue from operations during the quarter fell 26.2 percent to Rs 7,420 crore from Rs 10,055 crore, YoY. Revenue missed CNBC-TV18 analysts poll estimates of Rs 10,055 crore.

EBITDA in Q1FY21 declined 20.2 percent to Rs 573 crore from Rs 718 crore while EBITDA margin expanded by 60 bps to 7.7 percent from 7.1 percent, YoY. Read more here.

Aug 14, 2020 2:54 PM

Voltas delivers an all-round beat in its Q1 results, revenue & operational performance higher than expected.

Aug 14, 2020 2:26 PM

Just In: Sources say RBI dividend to government likely to be higher than budget estimate.

Aug 14, 2020 2:10 PM

Hemen Kapadia of KRChoksey Securities gives three stock recommendations

We are bullish on RBL Bank, said Kapadia. "It has been consolidating for around 6 trading sessions and the outlook remains positive for medium-term. It moved from Rs 170-194. One can buy it at Rs 184 with stop loss of Rs 179 and target of Rs 194," added the expert.

The second pick is Balrampur Chini Mills. Kapadia feels that the sugar sector is good, and have had one leg of the move. "We have seen the retracement and consolidation and now I believe that the next leg of the move could begin. So, buy Balrampur Chini at Rs 142, keep a stop loss of Rs 137 and target of Rs 152," he said further.

His last recommendation is Coal India, which can be bought at Rs 132, stop loss Rs 129 and target of Rs 138.”

Aug 14, 2020 2:00 PM

Portfolio changes: Reliance Securities replaces Sun Pharma and Infosys with Laurus Labs, HCL Tech

Indian equity market was among top performers globally with the benchmark index, Nifty registering monthly gain of 7.5 percent in July 2020. The recovery was primarily contributed by IT, Pharma, and Auto space.

The IT sector, with the sectoral weightage of 16 percent in Nifty, surprised positively mainly led by better than expected margins and positive management commentaries. However, banks and financials continued to underperform in the month.

Reliance Securities, in a recent report, said that it is underweight on financials and overweight on pharma, consumer, automobile and telecom. The brokerage replaced Sun Pharma and Infosys with Laurus Labs and HCL Technologies, respectively in its model portfolio.Click here to read more

Aug 14, 2020 1:51 PM

Jamna Auto stock price jumps 20% post Ashok Leyland’s positive commentary

Shares of Jamna Auto Industries extended rally on Friday and were trading over 6 percent higher. The stock price jumped over 20 percent in two trading sessions led by buying on hopes of a recovery in Commercial Vehicle space.

Optimistic management commentary by CV major Ashok Leyland fueled a rally in shares of Jamna Auto Industries as investors hoped for a revival in the CV sector. A recovery in demand for the CV segment augurs well for Jamna Auto Industries.

The CV segment is one of the worst-hit sectors due to the prevailing slowdown, regulatory changes, emission norms, and the economic fallout due to the coronavirus pandemic-induced lockdowns.

Jamna Auto Industries is India’s top spring manufacturer and a supplier to commercial vehicles major Ashok Leyland. Read more

Aug 14, 2020 1:35 PM

MRF reports weak Q1FY21 earnings

Aug 14, 2020 1:18 PM

City Union Bank reports 16% YoY rise in Q1 PAT; asset quality improves; stock price jumps over 6%

City Union Bank stock price rose over 6 percent in early trade on Friday after the bank reported better performance in the first quarter of fiscal 2021. The bank’s net profit in the quarter ended June 2020 fell 16.9 percent to Rs 154.3 crore from Rs 185.6 crore in the same quarter last year.

Net interest income (NII) during the quarter rose 4.8 percent to Rs 437 crore from Rs 416.8 crore, YoY. Net Interest Margin (NIM) improved to 3.98 percent versus 3.91 percent, QoQ. Loan growth was better than expectations, up 7.2 percent YoY and 1.8 percent QoQ.

Asset quality during the quarter improved sequentially as gross non-performing assets (NPA) fell 4.76 percent to Rs 1,346.08 crore from Rs 1,413.39 crore while net NPA declined 7.98 percent to Rs 716.35 crore from Rs 778.48 crore, QoQ.

Gross NPA as a percentage of gross advances fell to 3.90 percent from 4.09 percent and net NPA as a percentage of net advances decreased 2.11 percent from 2.29 percent. Click here to read more

Aug 14, 2020 1:03 PM

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