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🇪🇺🤝🇬🇧 Where there is a will, there is a #deal - we have one! It’s a fair and balanced agreement for the EU and the UK and it is testament to our commitment to find solutions. I recommend that #EUCO endorses this deal. pic.twitter.com/7AfKyCZ6k9
— Jean-Claude Juncker (@JunckerEU) October 17, 2019
Shares of TVS Motor rose as much as 7.6 percent after announcing September quarter results.
Key Earnings Highlights (Q2, YoY)
PNB Housing Finance
Indiabulls Housing Finance
Motherson Sumi Systems
Edelweiss Financial Services
Manappuram Finance
Indian equity indices are set to extend gains for fifth straight trading session.
The S&P BSE Sensex rose 1 percent to 38,985 as of 2:55 p.m. and the NSE Nifty 50 rose 0.89 percent to 11,566. The broader markets represented by the NSE Nifty 500 Index advanced 0.92 percent.
Nine out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Bank Index’s 2.8 percent gain. On the flipside, the NSE Nifty IT Index was the top sectoral loser, down 0.76 percent.
Amber Enterprises
Kesoram Industries
Indiabulls Integrated Services
Bajaj Consumer Care
Shares of Pennar Industries rose as much as 7.6 percent to Rs 27.
The company received a contract valued at Rs 304 crore, according to its stock exchange filing.
Of the shares traded, 62 percent were at the ask price and 32 percent were at the bid, according to Bloomberg data.
Shares of Mastek erased gains and fell as much as 6.6 percent to Rs 296.10 after the company announced its September quarter results.
Key Earnings Highlights (Q2, QoQ)
Shares of TV18 Broadcast fell for the ninth consecutive trading session, their longest losing streak in nearly eight years.
The stock fell as much as 7 percent, the most since Sept. 25, to Rs 19.90.
Trading volume was 2.4 times its 30-day average, according to Bloomberg data. The stock declined 46.9 percent so far this year.
Shares of Adani Green Energy extended gains for the 10th consecutive trading session, their longest ever gaining streak.
The stock rose as 16 percent to hit an all-time high at Rs 92.40.
Trading volume was four times its 30-day average, Bloomberg data showed. The Relative Strength Index was at 88, indicating that the stock may be overbought.
Shares of Yes Bank extended gains for the fourth consecutive trading session.
The stock rose as much as 15.9 percent, the most in two week, to Rs 47.60.
The analysts consensus 12-month price target tracked by Bloomberg stands at Rs 78.21, implying a potential return of 68 percent from the current market price. The stock declined 74.2 percent so far this year and slumped 79.8 percent in the past 12 months.
Indian equity indices extended gains to trade at day’s high.
The S&P BSE Sensex rose 0.8 percent to 38,902 as of 1:40 p.m. and the NSE Nifty 50 rose 0.62 percent to 11,534.50. The broader markets represented by the NSE Nifty 500 Index rose 0.68 percent.
The market breadth was tilted in favour of buyers. About 965 stocks advanced and 750 shares declined on National Stock Exchange.
Shares of PVR rose as much as 1.9 percent to Rs 1,856.95 after announcing September quarter results.
Key Earnings Highlights (Q2, YoY)
Shares of the Goa-based company fell 4.9 percent intraday, the most in two weeks, to Rs 86 each.
One of Zuari’s fertiliser plants has been shut down due to non-availability of raw material, according to an exchange filing. The company will notify the exchanges once the plant operations resume, the filing said.
The stock declined 64 percent in the past 12 months compared with 11 percent gain in the Sensex.
Shares of Jain Irrigation Systems extended declines for the second consecutive trading session.
The stock fell as much as 8.9 percent to Rs 11.65 and dropped 15 percent in two days. The scrip declined for third day in four.
The Relative Strength Index was below 30, indicating that the stock may be oversold, according to Bloomberg data. The stock has declined 16 percent in the past five days and dropped 47 percent in the past 30 days.
What Explains The Steady Rally In Life Insurance Stocks?
Indian equity indices struggled to hold on to gains and continued to witness a topsy-turvy trade.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 38,620 and 11,455.90 as of 11:15 a.m. The broader markets represented by the NSE Nifty 500 Index rose 0.04 percent.
Shares of PNB Housing Finance rose as much as 15 percent, the most in over a year, to Rs 437.
The company’s disbursements fell 35 percent on a sequential basis to Rs 4,970 crore in September quarter. The company also securitised loans amounting to Rs 3,580 crore through direct assignment. AUM was at Rs 89,471 crore and Loan Assets at Rs 74,353 crore. Gross non-performing asset were at 0.84 percent versus 0.85 percent quarter-on-quarter.
Trading volume was almost 30 times its 30-day average, Bloomberg data showed. Of the shares traded, 38 percent were at the ask price and 38 percent were at the bid.
Shares of Emami extended gains for the second consecutive trading session
The stock rose as much as 10.5 percent, the most in nearly four months, to Rs 351.90. The scrip gained 16.4 percent in two days.
Blackstone Group Inc. and a rival consortium led by KKR & Co. are considering bids for the cement unit of Indian cosmetics to paper conglomerate Emami Group, Bloomberg reported quoting people familiar with the matter.
Trading volume was more than 14 times its 20-day average, Bloomberg data showed. The Relative Strength Index was at 71, indicating that the stock may be overbought.
Nifty’s 11,500 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire today, fell 34.4 percent to Rs 14.50. Over 11 lakh shares were added to the open interest which stood at over 32.13 lakh shares.
Mindtree (Q2, QoQ)
Hathway Cable & Datacom (Q2, YoY)
Shares of Motherson Sumi Systems rose as much as 1.8 percent to Rs 101.20.
About 10 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Corrects earlier version that stated block deal in place of large trade.
Vodafone Idea’s Three-Year Bond Offloaded At A Steep Discount
Shares of Tata Power fluctuated between gains and losses to trade 0.26 percent lower at Rs 57.95.
About 30 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
The stock traded at 11 times its estimated earnings per share for the coming year, according to Bloomberg data.
Shares of Bajaj Consumer Care extended gains for the second consecutive trading session and rose as much as 11 percent to Rs 271.20.
HDFC MF increased its stake to 6.48 percent from 1.23 percent on Oct. 15. Besides, the company’s promoters sold 3.24 crore shares on Oct. 15.
Of the shares traded, 45 percent were at the ask price and 32 percent were at the bid, according to Bloomberg data.
Indian equity benchmarks fluctuated between gains and losses in the opening trade.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 38,594 and 11,453 respectively. The broader markets represented by the NSE Nifty 500 Index fell 0.13 percent.
The market breadth was tilted in favour of buyers. About 771 stocks advanced and 671 shares declined on National Stock Exchange.
Eight out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Metal Index’s 1.16 percent fall. On the flipside, the NSE Nifty Medial Index was the top sectoral gainer, up 1.05 percent.
Indian equity indices are expected to remain volatile today, according to homegrown brokering company Karvy Stock Broking.
“The benchmark Index—NSE Nifty 50 continued its winning streak and is likely to surge much higher on breach of 11,500-11,530 zone,” the research firm said in a note today.
Indian equity benchmarks are set to open higher.
The S&P BSE Sensex rose 0.36 percent to 38,756 during the pre-market and the NSE Nifty 50 rose 0.2 percent to 11,485.75.
Mindtree (Q2, QoQ)
Hathway Cable & Datacom (Q2, YoY)
Alcoa Plans Up to $1 Billion in Assets Sales as Demand Plunges
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