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(Bloomberg consolidated QoQ earnings)
(As reported on Oct. 10)
CLSA on Colgate
BofAML on Asian Paints
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The rupee may track the broader decline in emerging market peers, after a tumble in U.S. equities spurred risk-off sentiment. Sovereign bonds will await the outcome of Rs 12,000 crore of OMO purchase by the RBI later today.
The currency may find some support from the decline in Brent oil prices. Crude fell 2.25 percent yesterday and fell a further 1.7% today.
Markets would also wait for any government action to arrest the rupee's slide. One such action may include raising funds from overseas Indians.
Indian markets have corrected ahead of global markets and another correction of 2-3 percent will not bother anybody, Ajay Shrivastava of Dimensions Consulting told BloombergQuint in an interview.
Key highlights of the conversation:
Shares of the Gurugram-based real estate advisory firm rose as much as 3.7 percent to Rs 382.80 after its reorganization committee recommended the board for demerger of the company’s non-financial business segment to Soril Infra Resources.
Graphite electrode makers — Grapite India and HEG extended gains for the third day amid selloff in equity markets.
HEG rose as much as 6.54 percent to Rs 4,140 per share and Graphite India was locked in the upper circuit of 5 percent to Rs 870 per share.
Bank of America-Merrill Lynch had initiated coverage on both the stocks with a ‘Buy’ rating with return potential of 100 percent.
China Shares Sink Most Since 2016 as 1,000 Stocks Fall by Limit
Buyers and sellers were not immediately known
Source: Bloomberg
After steep fall in the markets a surprise upside return can be expected from pharma sector and top PSU banks, N. Jayakumar, managing director at Prime Securities told BloombergQuint.
Key highlights of the conversation:
Shares of Hindustan Petroleum surged as much as 20 percent, the most since July 2011, to Rs 216.40 on heavy trading volumes.
Trading volume was 2.3 times its 20-day average, data compiled by Bloomberg showed.
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In the ongoing correction expensive stocks have corrected and right valuations are coming back for the markets, Gautam Sinha Roy of Motilal Oswal Asset Management Company told BloombergQuint.
Key highlights of the conversation:
After paring losses around 1:00 p.m. the Indian equity benchmarks again extended declines dragged by losses in IT, financial services and banking shares.
The Sensex fell 2 percent or 728 points to 34,030 and the NSE Nifty 50 Index dropped 2 percent or 220 points to 10,238.
All sector gauges compiled by the National Stock Exchange were trading lower dragged by the Nifty PSU Bank Index's over 5 percent drop. IT, Private Bank, Auto and Financial Services Indices also tumbled 2.5-3 percent each.
Buyers and sellers were not immediately known
Source: Bloomberg
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