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Oct 21, 2021 5:02 PM

Fluctuating raw material prices to hurt corporate balance sheets: Deven Choksey

Deven Choksey of KRChoksey said in an interview to CNBC-TV18 that the sharp volatility in raw material prices is not helping anybody. "The industry will have its own trouble," he said. The fluctuating prices are not going to be friendly to the corporate balance sheets, and are going to hit the margins, he said.

"On one side they would require to commit to the market the supply and on the other, with the hike in raw material prices, they will have to accept the price for the duration till the time it is passed on. That is what is being seen in the results of companies like Havells, Asian Paints and Supreme Petrochem. This is going to be a challenging time going forward. We will have to start paring down our expectations on the margin front," he said.

Oct 21, 2021 4:36 PM

Nifty50 has support at 17,800, rally expected to resume once index crosses 18,300: Manish Shah

Independent analyst Manish Shah said the Nifty index has held the support level of 18,050-18,100. "On the lower timeframe, we clearly see a change in sentiment from bullish to bearish as several green candles appear in the last hour of the day. At the end of the day, it was a candle with a long real body; not long enough to be classified as a hammer," he said.

"We are in a fast-moving market as the directional movement shows a bullish sentiment. MACD has moved into a sell mode. Usually, corrective decline lasts 2-3 days before the market reverses and resumes its original direction, which in this case is up. We reiterate that Nifty is in a strong trend and needs to move above 18,300 for a rally to 18,900-18,950. Support for Nifty is at 17,800. Expect the rally to resume once Nifty trades beyond 18,300," he said.

Oct 21, 2021 4:22 PM

Rupee ends flat at 74.86 against dollar

The rupee ended at 74.86 against the US dollar, as against its previous close of 74.87.

Oct 21, 2021 4:18 PM

Market At Close | Kotak Mahindra Bank, Tata Motors, Grasim top gainers; Asian Paints, Hindalco, Infosys top laggards

Oct 21, 2021 4:08 PM

Market At Close | Sensex, Nifty extend losses to third straight day; Nifty Bank hits record high

Here are highlights of the October 21 session:

--Nifty Bank closes above 40,000 for first time

--Nifty Bank Rises 512 points to 40,030; midcap index sheds 122 points to 31,356

--Asian Paints falls 5 percent after weak Q2 results; top Nifty50 loser

--Reliance Industries falls 2.9 percent, ahead of earnings on Friday

--Asian Paints falls 5.2 percent after company reports weak Q2 earnings; Pidilite falls 4.5 percent, Berger Paints 6.2 percent

--Havells drops 9 percent; L&T Fin 7 percent after Q2 results

--Midcap IT stocks continue downward move; Mindtree, Coforge, L&T Tech top losers

--PSU banks continue to see buying; Union Bank, RBL, BoB post healthy gains

--Tata Motors DVR jumps 10 percent; Rakesh Jhunjhunwala raises stake to nearly 4 percent

--Tata Motors gains 4 percent after S&P raises JLR and company's rating

--Market breadth favours bears; advance-decline ratio at 4:5

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Oct 21, 2021 3:54 PM

Closing Bell | Sensex ends 336 points lower, Nifty at 18,178

The Sensex ended 336.5 points or 0.6 percent lower at 60,923.5 and the broader Nifty50 benchmark shed 88.5 points or 0.5 percent to settle at 18,178.1.

Oct 21, 2021 3:38 PM

L&T says its green offerings at Rs 27,700 crore, 29.6% of revenue

L&T shares traded 0.1 percent lower at Rs 1,805 apiece on BSE in late afternoon deals.

Oct 21, 2021 3:25 PM

Clear miss on EBITDA front: Sharekhan' Kaustubh Pawaskar on Asian Paints Q2 results

Sharekhan' Kaustubh Pawaskar described Asian Paints' Q2 performance as a clear miss on the EBITDA front.

“I was expecting around 21 percent kind of EBITDA margins, which came at around 12.8 percent. It is a miss on the gross margin level. So there is a clear gap between increases in the raw material prices – there is a sharp increase in raw material prices and whatever the price increase the industry has taken. It will take some time for that gap to bridge because I don’t think the company would significantly increase their prices. Prices would be increased in a calibrated manner and more focus would be on achieving the volume growth. Volume growth numbers are in-line with what we and the street were anticipating. However, it was a miss on the margin front,” he said.

Oct 21, 2021 3:09 PM

Asian Paints Q2 performance huge disappointment on margins front: Axis Securities' Naveen Kulkarni

Naveen Kulkarni of Axis Securities said Asian Paints' Q2 numbers were "a huge disappointment on the margins, no doubt about that".

"We were expecting an EBITDA of close to Rs 1,300 crore. Compared to our lower expectations also, the numbers are far lower. Overall, the numbers are much weaker than what we had expected... I believe that input cost pressures are not going to go away very quickly. So the view is that till we start seeing the price hikes coming through, which are enough to offset the input cost pressures and demand scenario sustaining are going to be the key factors to watch out for," he said.

Oct 21, 2021 3:06 PM

Mahindra & Mahindra shares down 0.5%

Oct 21, 2021 2:47 PM

Expect crude prices to moderate Q4 onwards: HPCL’s MK Surana

In conversation with CNBC-TV18’s Anshu Sharma, MK Surana, chairman and MD of HPCL talked about how OMCs are navigating in such a volatile time when crude prices are rising and as 85 percent of India's…

Oct 21, 2021 2:43 PM

UPL shares down 0.5%

Oct 21, 2021 2:35 PM

Maintain overweight stance on India; bullish on top life insurance cos, select NBFCs: BNP Paribas

In an interview with CNBC-TV18, Manishi Raychaudhuri, Asian Equity Strategist, Equity Cash Asia Pacific at BNP Paribas, said that valuations are starting to look a little frothy in the Indian market.…

Oct 21, 2021 2:33 PM

Market Watch | G Chokkalingam, Founder & Managing Director, Equinomics Research & Advisory on Financials:

Right now PSU banking pack looks really attractive on a selective basis, said G Chokkalingam, Founder & Managing Director, Equinomics Research & Advisory.

This is the first time many themes have played on simultaneous in the last 18 months except PSU banking theme, which he believes will play out because credit growth has again improved close to 7 percent and the setting up of bad bank is also positive.

So among them the best to pick according to Chokkalingam is Indian Bank, it is available at 35 percent discount adjusted book value. It has least NPAs if you leave out the SBI, and its net NPA is somewhere around 3.3 percent, very high provision coverage, very high capital adequacy ratio and nine lakh crore business but available at 1 or 2 percent of the business, the current market cap, he said.

“It is one stock which can give a phenomenal return we have a target of around Rs 220,” he added.

The second one is Kirloskar Oil Engines, very good management and the stock has corrected over nearly 20 percent in the last six seven months and it is engaged in agriculture pumps and engines. The very attractive bond is that the agriculture sector is doing very well whether you take in exports or domestic prices so this is big positive for pump business.

Second attractive point is that it has a strong balance sheet net cash company. And the main trigger is that they got into financial services, which is doing very well. In the first quarter, they are done very good performance. And fund size already is about Rs 1000 crore, he said.

Oct 21, 2021 2:32 PM

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