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Sensex, Nifty Pare Some Weekly Gains As Infosys Slumps On CEO’s Exit

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Sensex, Nifty Pare Some Weekly Gains As Infosys Slumps On CEO’s Exit
An Electronic Ticker Board Indicates Prices of the BSE Sensex at the Bombay Stock Exchange (Photographer: Prashanth Vishwanathan/Bloomberg)
9 years ago
Asian stocks were trading lower after terrorists attacked a crowded tourist street in Barcelona
Aug 18, 2017 15:58 (IST)
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Aug 18, 2017 15:32 (IST)
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Aug 18, 2017 09:33 (IST)
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Aug 18, 2017 13:37 (IST)
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Shares of the budget carrier operator fell as much as 4.95 percent to Rs 1,247.50 after a PTI report said IndiGo cancelled 84 flights and grounded thirteen A320 Neo planes due to Pratt & Whitney engine issues.

Aug 18, 2017 12:41 (IST)
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Aug 18, 2017 12:36 (IST)
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Shares of the Vijay Mallya-promoted firm slipped 5 percent to Rs 17.60 after the National Stock Exchange and BSE Ltd said that they would suspend trading in the stock from September 8,

The suspension was mainly "on account of non-compliance with financial results and non-payment of fine for two consecutive quarters", NSE said in a communication.

The bourses also froze the entire promoter shareholding with immediate effect.

Aug 18, 2017 12:59 (IST)
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Aug 18, 2017 09:35 (IST)
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Indian shares declined, in line with global peers, after terrorists struck a crowded tourist street in Barcelona, exacerbating unease triggered by mounting concerns about dysfunction in President Donald Trump’s administration and U.S. policy paralysis.

The S&P BSE Sensex 0.6 percent to 31,589 while the NSE Nifty 50 Index dropped 0.6 percent as well to 9,840. All the 19 sector gauges compiled by the BSE Ltd declined, led by the S&P BSE IT Index’s 2.5 percent drop, the most in over two months.

Aug 18, 2017 08:47 (IST)
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Aug 18, 2017 08:55 (IST)
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Aug 18, 2017 07:46 (IST)
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Aug 18, 2017 07:46 (IST)
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Yes Bank
  • Goldman Sachs: 'Buy' with a target of Rs 1,875. Cutting interest rate to improve the retail franchise, which in turn should drive the earnings and valuations of the bank. Estimate 3-9 basis points positive impact on net interest margins.

AU Small Finance

  • Citi: Initiate coverage with a 'Neutral' rating; target at Rs 600. The stock looks fairly valued; AUM/credit cost at 30 percent/31 percent and 1.65 percent/1.55 percent for FY18/FY19. Valuations to limit upside, given pressure on earnings for the next 4-6 quarters

KNR Construction

  • Nomura: Retains Buy; target price hiked to Rs 287 from Rs 227 earlier. Hike EPS estimates for FY18/19F by 16 percent/4 percent. High order book opportunities over FY18-20. Says order inflow of Rs 2,500 crore achievable.

Dish TV

  • Motilal Oswal: Buy with a target of Rs 106. Margin recovery expected in FY18 led by content cost reduction and synergy gains from the merger.
  • IDFC: Retains Neutral but target cut to Rs 92 from Rs 95. FY18E/19E EBITDA cut by 7.3 percent/7.7 percent. ARPU up move started; expect this to sustain for the next three-quarters. Merger to yield both revenue and cost synergies.
  • CLSA: Retains Buy but cuts target price to Rs 97 from Rs 112. EBITDA estimates cut by 10-11 percent led by a 2-4 percent cut in subscriber and ARPU estimates. Expect EBITDA CAGR of 6 percent over FY17-20 (pre-merger).
  • Goldman Sachs: Neutral with a target of Rs 80. FY17-19E EPS cut by 21 percent-2 percent. Long-term outlook to stay challenged given competition from FTA, and easier/cheaper access to online content.
  • Morgan Stanley: Says revenue growth in FY18 will be volume led, while GST will aid margin expansion, albeit lower than earlier expected.

Infosys

  • CLSA: Buyback to take at least another 4 months to complete. Expect 10 percent-20 percent premium to drive a 4.8 percent-5.3 percent acceptance ratio. ROE to increase by 550 basis points to 24.4 percent in FY19 and its payout ratio in FY18 should be 155 percent.
Aug 18, 2017 07:46 (IST)
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  • IndusInd Bank cuts some savings deposit rates by 100 basis points
  • Punjab National Bank will reduce the interest rate for savings deposits up to Rs 50 lakh by 50 basis points to 3.5 percent.
  • Dish TV to transfer of Videocon Infra support undertaking to subsidiary Dish Infra
  • Somany Ceramics to set up a manufacturing facility in Andhra Pradesh
  • Raymond Group takes control of brand Kamasutra; buys out Australian partner’s stake in joint venture
  • Raymond sells its glove business to Pacific Dunlop for Rs 11.3 crore
  • Manaksia Industries to set up a subsidiary in Bangladesh, Sri Lanka and Georgia
  • SpiceJet deposits Rs 329 crore in share transfer dispute with Kalanithi Maran
  • ICICI Lombard General expects SEBI nod for IPO in 2-3 weeks
  • Rajasthan government signs joint venture pact with HPCL for Barmer refinery
  • IIFL AMC buys 2.59 percent in Reliance Nippon Life Asset Management
  • Mindtree buy back starts today; to remain open until September 1
  • UFO Moviez meets Centrum, Quantum Securties and Premji Investment
  • BSE, NSE to suspend trading in United Breweries Holdings from September 8 on account of “non-compliance with financial results and non- payment of fine for two consecutive quarters".
Aug 18, 2017 07:46 (IST)
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Aug 18, 2017 07:33 (IST)
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