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Shares of the Chennai-based bank fell as much as 10 percent to Rs 231 after its asset quality worsened in December quarter.
Key earnings highlights:
Shares of the Delhi-based real estate developer fell as much as 19.5 percent, the most in over two years, to Rs 143.10 after CNBC TV18 reported that Central Bureau of Investigation visited the real estate major’s offices in Delhi-NCR in connection to a land acquisition matter.
Shares of the country's largest car maker fell as much as 9 percent, the most in over 18 months, to Rs 6,411 after its profit missed Bloomberg consensus estimates in December quarter.
Key earnings highlights:
Why Zee Group Stocks Tumbled
India's 50-share Nifty 50 index erased gains paced by losses in Zee Entertainment, UltraTech Cement and Asian Paints.
The Sensex rose 0.1 percent or 46 points to 36,236 and the NSE Nifty 50 Index declined 0.13 percent or 14 points to 10,834.
Nine of 11 sector gauges compiled by National Stock Exchange were trading lower led by Nifty Media Index's 8.1 percent decline. On the flipside, Nifty IT Index was top gainer, up 0.3 percent.
Selling pressure intensified in mid and small-caps as the Nifty Midcap 100 Index dropped 0.8 percent and the Nifty Smallcap 100 Index fell 0.7 percent.
Shares of the Pune-based internal combustion engine maker rose as much as 5.32 percent to Rs 190 after it reported December quarter earnings.
Key earnings highlights:
Shares of graphite electrode makers extended decline on demand concerns.
Graphite India slid 8.8 percent to Rs 568.80, a seventh day of declines, while HEG fell 17 percent in two sessions and down 27 percent this month.
“The fundamentals for the sector remain the same,” with margins expected to be good for the next couple of quarters, says Anik Das, an analyst at Skp Securities, by phone. “Some investors were looking to exit the stocks at higher levels but we have seen some buying coming in on declines.”
Graphite India is being impacted by rising supplies coming into India from China; HEG is more focused on exports so impact limited. According to industry reports, ultra-high power graphite electrode prices dropped 7 percent from last week due to inventory buildup in China, Nomura says in report.
Source: Bloomberg
Over the past month, India's government has announced a range of policies to support the incomes of small enterprises and low-income households. It is also considering additional steps to support farmers facing financial distress.
In the absence of new revenue boosting measures, the policies will collectively make it harder for the government to achieve its fiscal consolidation objectives.
Meanwhile, meeting the short-term fiscal objectives through one-off sources of revenue and cuts in capital expenditure would denote low fiscal policy effectiveness.
Indian equity benchmarks came off intraday highs as ICICI Bank, Asian Paints and Hero MotoCorp came under selling pressure.
The Sensex rose 0.48 percent or 176 points to 36,371 and the NSE Nifty 50 Index advanced 0.38 percent or 41 points to 10,890.
Thirteen of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Telecom Index's 2 percent gain. On the flipside, S&P BSE Realty Index was top loser, down 1 percent.
Mid- and small-cap shares were underperforming their larger peers as the S&P BSE MidCap Index fell 0.3 percent and the S&P BSE SmallCap Index declined 0.14 percent.
Shares of the country's largest infrastructure developer rose as much as 1.45 percent to Rs 1,314 ahead of December quarter earnings.
Here is what to expect from Larsen & Toubro in December quarter (Bloomberg consolidated consensus estimates YoY):
Shares of the country's largest car maker rose as much as 1.31 percent to Rs 7,133 ahead of December quarter earnings.
Here is what to expect from Maruti Suzuki in December quarter (Bloomberg consensus estimates):
Nifty's 10,900 put option contract was among the most active option contracts on the National Stock Exchange.
Premium on the contract fell 40 percent to Rs 61.10. Over 9.52 lakh shares were added to the open interest which stood at over 31.81 lakh shares.
Shares of the Mumbai-based drugmaker rose as much as 6.18 percent to Rs 2,848.25 after its profit rose 51 percent in December quarter.
Key earnings highlights:
Shares of the Pune-based fertiliser maker rose as much as 8.62 percent to Rs 115.25.
Deepak Fertilisers clarified that the company has been repaying commercial papers in accordance with due dates and the company along with its arms have no commercial papers outstanding as on date, it said in an exchange notification.
Shares of Spencer’s Retail got listed at Rs 225 and CESC Ventures was listed at Rs 545 on the exchanges today, after their demerger from CESC Ltd.
Soon after listing Spencer’s Retail declined 3.5 percent to Rs 217.10 and CESC Ventures fell 4.58 percent to Rs 520.
Both Spencer’s Retail and CESC Ventures will be a part of the trade-for-trade segment for 10 trading days after listing and be part of special pre-open session for IPO.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Kolkata-based gas maker fell as much as 20 percent to Rs 568.65 after its promoters rejected the delisting from the bourses after discovering the company was worth nearly thrice its market capitalisation.
BOC Group Ltd. and Linde Holdings Netherlands B.V., the promoters, said in an exchange filing yesterday that the discovery price came to nearly Rs 2,025 per share in the delisting process.
CLSA
UBS
Macquarie
CLSA
Macquarie
Investec
UBS on Indian Auto Sector
Investec on PNB Housing
Emkay on Sterlite Tech
CLSA on Colgate
F&O Cues
Shankara Building Product
(As reported on Jan. 25)
PNB Housing Finance (Q3, YoY)
Quess Corp (Q3, YoY)
Hatsun Agro Product (Q3, YoY)
Biocon (Q3, YoY)
Bharat Bijlee (Q3, YoY)
Pfizer (Q3, YoY)
Mphasis (Q3, QoQ)
Sun Teck Realty (Q3, YoY)
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