MARKET WRAP: Sensex ends below 41,000, slips 188 pts; Bharti Airtel down 4%

(Photo: Kamlesh Pednekar)
Metals continued to drag the indices down for the second straight session on Tuesday as investors weighed the impact of coronavirus to China's and the world economy. Additionally, volatility in the indices ahead of the Union Budget for 2020-21, and disappointing December quarterly result by heavyweight Maruti Suzuki invited more sellers in the markets than buyers.

The S&P BSE Sensex plummeted 188.26 points, or 0.46 per cent, to end at 40,966.86 level. Bharti Airtel (down 4 per cent), Tata Steel (4 per cent), and Reliance Industries (3 per cent) were the top laggards at the 30-share index. On the upside, HDFC (1.6 per cent), Bajaj Finance (1.3 per cent), and Sun Pharma (1 per cent) were the top gainers. In the intra-day trade, the Sensex hit a low of 40,869.75.

On the National Stock Exchange (NSE), the broader Nifty50 held the psychological mark of 12,000, and ended marginally above the level at 12,055.80-mark, down 63.20 points, or 0.52 per cent.

On the sectoral front, Nifty Metal index was the top drag on the NSE, down over 2 per cent at  close. This was followed by losses in the Nifty Auto index, down over 1 per cent. On the contrary, Nifty Realty index was the top performer today, up 0.11 per cent at close. 

In the broader markets, weakness was witnessed in the mid-caps, while small-caps continued to fare better than the benchmarks. The S&P BSE mid-cap index ended 0.50 per cent lower at 15,679.84 level, while the S&P BSE small-cap was at 14,827.34, down 0.16 per cent.

GLOBAL MARKETS

Asian stocks took a battering on Tuesday as the death toll from a virus in China climbed, leaving investors fretting over the widening economic fallout from the outbreak and lifting bonds on expectations central banks would need to keep stimulus flowing.

MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 0.8 per cent. Japan’s Nikkei, which was down nearly 1 per cent at one point, closed 0.6 per cent lower. Australian shares ended 1.3 per cent down and South Korea’s Kospi index skidded 3 per cent.

In early European trades, the pan-region Euro Stoxx 50 futures and German DAX futures each rose 0.3 per cent while futures for London’s FTSE added 0.1 per cent. The S&P 500 e-mini contracts gained 0.5 per cent.

In the commodities market, Brent Crude Futures were at $58.07 per barrel-mark, down 0.87 per cent.

(With inputs from Reuters)


3:41 PM IST

3:40 PM IST

3:39 PM IST >> The S&P BSE Sensex plummeted 188.26 points, or 0.46 per cent, to end at 40,966.86 level. Bharti Airtel (down 5 per cent), Tata Steel (4 per cent), and Reliance Industries (3 per cent) were the top laggards at the 30-share index. On the upside, HDFC (1.6 per cent), Bajaj Finance (1.3 per cent), and Sun Pharma (1 per cent) were the top gainers. In the intra-day trade, the Sensex hit a low of 40,869.75.   >> On the National Stock Exchange (NSE), the broader Nifty50 held the psychological mark of 12,000, and ended marginally above the level at 12,055.80-mark, down 63.20 points, or 0.52 per cent.

3:18 PM IST >> Says co didn't fulfill export obligations under EPCG >> Denied Entry List leads to import curbs Alert: DGFT is Directorate General of Foreign Trade

3:00 PM IST

2:59 PM IST Alert: Board meeting to be held on Jan 31

2:47 PM IST COMPANY PRICE(rs) 52 WK LOW CHG(rs) CHG(%) ITC 231.10 231.00 -3.55 -1.51 J & K BANK 27.40 27.30 -0.80 -2.84 RELIANCE CAPITAL 9.05 8.94 -0.27 -2.90 » More on 52 Week Low

2:43 PM IST

2:35 PM IST Asian stocks took a battering on Tuesday as the death toll from a virus in China climbed, leaving investors fretting over the widening economic fallout from the outbreak and lifting bonds on expectations central banks would need to keep stimulus flowing. MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 0.8 per cent. Japan’s Nikkei, which was down nearly 1 per cent at one point, closed 0.6 per cent lower. Australian shares ended 1.3 per cent down and South Korea’s Kospi index skidded 3 per cent. In early European trades, the pan-region Euro Stoxx 50 futures and German DAX futures each rose 0.3 per cent while futures for London’s FTSE added 0.1 per cent. The S&P 500 e-mini contracts gained 0.5 per cent.

2:31 PM IST On standalone basis, Maruti Suzuki's Q3 profit increased 5.1 per cent to Rs 1,565 crore while revenue was up 5.3 per cent to Rs 20,707. In terms of operating performance, Maruti's earnings before interest, tax, depreciation, and ammortisation (EBITDA) stood at Rs 2102 cr, up 8.9 per cent YoY while Ebitda margin stood at 10.1 per cent. READ MORE  

2:25 PM IST Higher margins and lower opex led to a 115bp sequential increase in C/I, which improved to 54.4%. The lower tax rate counterbalanced higher credit costs, keeping RoA above 1%. Loan growth was at a many- year low of 11%. Higher slippages, however, led to deterioration in the asset quality. We expect business growth to pick up and asset quality to stabilise in the medium term. We maintain a Buy. Our Jan’21 target of Rs 226 is based on the two-stage DDM model. This implies a ~1.8x P/BV multiple on its FY22e book. Risks: Less-than-expected loan-book growth, large slippages from the mortgage book.

2:15 PM IST

LIVE UPDATES

Nifty snapshot at close


Top gainers and losers on S&P BSE Sensex at close


Closing Bell

>> The S&P BSE Sensex plummeted 188.26 points, or 0.46 per cent, to end at 40,966.86 level. Bharti Airtel (down 5 per cent), Tata Steel (4 per cent), and Reliance Industries (3 per cent) were the top laggards at the 30-share index. On the upside, HDFC (1.6 per cent), Bajaj Finance (1.3 per cent), and Sun Pharma (1 per cent) were the top gainers. In the intra-day trade, the Sensex hit a low of 40,869.75.
 
>> On the National Stock Exchange (NSE), the broader Nifty50 held the psychological mark of 12,000, and ended marginally above the level at 12,055.80-mark, down 63.20 points, or 0.52 per cent.

NEWS ALERT | DGFT blacklists Bharti Airtel, puts co on 'Denied Entry List': sources to CNBC TV18

>> Says co didn't fulfill export obligations under EPCG

>> Denied Entry List leads to import curbs

Alert: DGFT is Directorate General of Foreign Trade

Market check | Sensex slips below 41,000


NEWS ALERT | Magma Fincorp to seek board nod for raising up to Rs 3,000 cr in FY21 via NCDs: BSE filing

Alert: Board meeting to be held on Jan 31

BSE500 stocks that hit 52-week low today

COMPANY PRICE(rs) 52 WK LOW CHG(rs) CHG(%)
ITC 231.10 231.00 -3.55 -1.51
J & K BANK 27.40 27.30 -0.80 -2.84
RELIANCE CAPITAL 9.05 8.94 -0.27 -2.90
» More on 52 Week Low

MARKET CHECK:: Sensex extends losses; down 190 points now


Global Markets check

Asian stocks took a battering on Tuesday as the death toll from a virus in China climbed, leaving investors fretting over the widening economic fallout from the outbreak and lifting bonds on expectations central banks would need to keep stimulus flowing.

MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 0.8 per cent. Japan’s Nikkei, which was down nearly 1 per cent at one point, closed 0.6 per cent lower. Australian shares ended 1.3 per cent down and South Korea’s Kospi index skidded 3 per cent.

In early European trades, the pan-region Euro Stoxx 50 futures and German DAX futures each rose 0.3 per cent while futures for London’s FTSE added 0.1 per cent. The S&P 500 e-mini contracts gained 0.5 per cent.

Maruti Suzuki posts 4% YoY rise in Q3 consolidated profit at Rs 1,587 crore

On standalone basis, Maruti Suzuki's Q3 profit increased 5.1 per cent to Rs 1,565 crore while revenue was up 5.3 per cent to Rs 20,707. In terms of operating performance, Maruti's earnings before interest, tax, depreciation, and ammortisation (EBITDA) stood at Rs 2102 cr, up 8.9 per cent YoY while Ebitda margin stood at 10.1 per cent. READ MORE  


BROKERAGE RADAR :: Anand Rathi Shares and Stock Brokers on DCB Bank

Higher margins and lower opex led to a 115bp sequential increase in C/I, which improved to 54.4%. The lower tax rate counterbalanced higher credit costs, keeping RoA above 1%. Loan growth was at a many- year low of 11%. Higher slippages, however, led to deterioration in the asset quality. We expect business growth to pick up and asset quality to stabilise in the medium term. We maintain a Buy.

Our Jan’21 target of Rs 226 is based on the two-stage DDM model. This implies a ~1.8x P/BV multiple on its FY22e book. Risks: Less-than-expected loan-book growth, large slippages from the mortgage book.

Index Contributors at this hour | Bharti Airtel declines 5%, RIL over 2%


Result impact | Maruti extends slide as Q3 nos miss estimates


Market check | Sharp slide in Sensex


NEWS ALERT| Sales between April and Dec down 16.1% YoY: Maruti Suzuki

>> Company sold a total of 1,178,272 vehicles during the period, lower by 16.1% compared to the same period previous year.

>> Sales in the domestic market stood at 1,100,698 units, lower by 16.9%. Exports were at 77,574 units.

>> During the period, the Company registered Net Sales of Rs. 545,047 million, lower by 12.5% compared to the same period previous year. 

>> Net profit for the period stood at Rs. 43,589 million, lower by 23.6% compared to the same period previous year on account of lower sales volume

NEWS ALERT | Maruti Suzuki says --

>> Company sold a total of 437,361 vehicles during the Quarter, up 2% YoY

>> Sales in the domestic market stood at 4,13,698 units, higher by 2%. Exports were at 23,663 units. 

>> Net Sales of Rs 19,649.1 crore, up 3.8% YoY

>> Net profit at Rs 1564.8 crore, up 5.1% YoY
 

Earnings Alert | Maruti Suzuki Q3 results

>> Standalone Net profit at Rs 1,564.8 crore

>> Revenue from Sales at Rs 19,649.1 crore

>> Total revenue at Rs 20,706.8 crore

BROKERAGE RADAR | Emkay Global Financial Services on Dr Reddy's

Our earlier Sell rating was largely premised on possible disappointments across three key products – gSuboxone, gNuvaring and gCopaxone – which seems to have largely played out. However, DRRD’s persistent focus on rationalizing cost and on non-US geographies has helped it deliver a strong improvement in the base business and negate this impact. We thus upgrade the rating to Hold from Sell, and now value these opportunities as part of the base business assuming full competition (vs. a lower multiple earlier due to their one-off nature). We increase the target price to Rs 3,190 and turn EW in EAP. 

RESULT UPDATE:: Century Textiles Q3FY20 cons net profit down 57.4% at Rs 36 cr vs Rs 84.2 cr (YoY)


ITC hits 52-wk low ahead of Q3 nos this week; here's what brokerages expect

Shares of ITC slipped over 1 per cent to hit a 52-week low of Rs 232.15 apiece on the BSE in the intra-day session on Tuesday. The fast moving consumer goods (FMCG) company is slated to announce its December quarter results for the current fiscal (Q3FY20) on Friday (January 31). At 12:55 pm, the scrip was trading 0.83 per cent lower at Rs 232.70 apiece on the BSE. The benchmark S&P BSE Sensex, on the other hand, was trading flat at 41,196 levels, up 41 points or 0.1 per cent. The S&P BSE Fast Moving Consumer Goods index was quoting 0.28 per cent lower at 11,788.5-mark. READ MORE

Sebi diktat hits commercial papers; traded volume slips to Rs 34,659 crore

The mutual fund (MF) industry, which has been steadily bringing down its exposure to commercial papers (CPs) issued by non-banking financial companies (NBFC), seem to have further shunned the paper after a diktat by the capital market regulator to invest only in those that are listed with the exchanges. CPs are short-term debt instruments maturing in less than a year, and are issued by companies other than banks. READ MORE

NEWS ALERT | Coal India gets environmental clearance for 17 coal mine projects: PTI


Maruti Suzuki trades weaker ahead of Q3 results today

Kotak Securities expects Maruti's Q3FY20 revenue at Rs 22,707.8 crore while profit is seen at Rs 1,746.4 crore, up 17.3 per cent on a YoY basis.
 
"We expect revenues to increase by 16 per cent yoy in 3QFY20 led by 2 per cent increase in volumes and 9 per cent yoy increase in ASPs due to introduction of new safety regulations for entry-level cars and migration of the petrol portfolio to BS-VI," the brokerage said. READ PREVIEW HERE

Small-caps continue to outperform benchmarks; S&P BSE small-cap index up 0.25%


HDFC beats expectations in Q3; conservative provisioning offers comfort

Housing Development Finance Corporation’s (HDFC’s) December 2019 quarter (Q3) results beat the Street’s expectations on most operating parameters. While the housing financier major clocked over 3 times year-on-year (YoY) jump in its profit before tax to Rs 9,143 crore, its assets under management (AUM, which indicates the loan book size) grew 14 per cent. Analysts had pegged these two numbers at Rs 4,803 crore and 12-15 per cent, respectively. READ MORE

NEWS ALERT | Airtel Africa posts net profit at $103 million, up 14.41% QoQ in Q3FY20: CNBC TV18

>> Net debt at $ 3,233 million

>> Revenue at $883 million, up 4.6% QoQ


BROKERAGE RADAR | HDFC Securities on Zensar Technologies

We downgrade Zensar to NEU (from BUY), post disappointing 3QFY20, growth challenges and weak execution. Deal pipeline is healthy and TCV wins have
improved but not reflecting in growth. Margin recovery is slower than expected and Retail/Legacy drag is weighing on growth and margins. We cut FY22E Rev/EPS by 10.5/19.9% and reduce P/E multiple to 11x vs. 12x earlier. Our TP of Rs 177 is based on 11x (~14% discount to 5Y average) Dec-21E EPS.

BROKERAGE RADAR | Centrum Broking on Biocon

We expect Biocon growth momentum to continue over medium term. We have looked at its product pipeline and expect new products to flow in as we move ahead like rh-Insulin and mabs etc. At Rs 292, Biocon is trading at 21.4x FY21E EPS of 11.4 and 16.1x FY22E EPS of 15.2. Management has announced a value unlocking for Biosimilar/Biologic segment beyond FY20E (until business restructuring is completed by FY20E). The key risk to our investment thesis remains increased competition or innovator tactics to keep higher market share.

BROKERAGE RADAR | Motilal Oswal Financial Services on Automobiles

Valuation and view
  • We prefer PVs over 2Ws/CVs. Mainstream 2W OEMs face the risk of demand uncertainty post BS6, imminent threat of EVs and scope of value migration. While the CV segment should see substantial cost inflation due to BS6, demand for CVs will have a big influence on freight availability and economic viability.
  • We expect PVs to be the least impacted on a relative basis during the BS6 transition due to limited cost increase for petrol PVs (~70% of industry volumes) and scope of alternative fuels.
  • In our view, valuations are partly reflecting the expected recovery in FY21. However, sustained volume recovery could drive mean reversion of profitability by FY22, in turn leading to an earnings upgrade. Valuations are reasonable considering the early-cycle earnings of FY21/22.
  • Top Picks: MSIL and MSS in large-caps and AL and ENDU in mid-caps.

BROKERAGE RADAR | Prabhudas Lilladher initiates coverage on IRCTC

Rating: BUY | CMP: Rs 1,004 | TP: Rs 1,339
 
Company Initiation - Monopoly play on rail travel & tourism

We expect tourism revenue/EBIT to grow at a CAGR of 9.1 per cent / 2.9 per cent over FY19-22E as IRCTC has footprints across all major tourism segments such as hotel bookings, rail, land, cruise & air tour packages and air ticket bookings. It has monopoly in rail tourism and operates various theme-based trains.

BROKERAGE RADAR | ICICI Securities on EIH Ltd

The sector has seen several measures being taken up by the government to boost growth. GST rate cut, reduction in visa charges, extending the e-visa
scheme further, among others, are expected to support the sector, going ahead. However, in the near term, the growth of the sector may pause, in light of the outbreak of Corona Virus, which remains a key risk in the medium term. While we remain positive on the company in the long term, considering the near term risk, we reduce the target multiple to ~23x FY21E EV/EBITDA to arrive at a target price of Rs 175.

MARKET CHECK:: Sensex regains some momentum


Budget 2020 | Govt may consider tax sops, easier norms to boost investments

The Union Budget may focus on giving a boost to the investment climate by providing tax concessions to private investors and announcing easier operational norms, official sources said on Monday. With revenue projections, relating particularly to taxes, going awry in the current fiscal year (April 2019-March 2020, or FY20), the targets in the Budget are likely to be far more realistic, the sources said. READ MORE

United Spirits surges over 9% after reporting robust Q3 numbers

United Spirits jumped 9 per cent to Rs 629.70 on the BSE on Tuesday after the company announced robust numbers for the quarter which ended December 2019. On consolidated basis, United Spirits' net profit rose 15.3 per cent to Rs 235.30 crore in Q3 FY20 as against net profit of Rs 202.99 in the year-ago quarter. The profit was led largely by a sharp growth in sales (8 per cent) of Prestige and Above portfolio. READ MORE

Momentum stocks to take a breather as Coronavirus fear spreads globally

Momentum driven stocks in the Indian context such as Gujarat Gas, Relaxo Footwears, Bharti Airtel and SRF are likely to take a breather as global markets brace for a possible escalation in Coronavirus, says the latest report from Jefferies. READ MORE   


Budget 2020 | Time for govt to reintroduce wealth tax, says Abhijit Banerjee

india had passed the Wealth Tax Act, 1957 which was levied on an individual, a Hindu Undivided Family and a Corporate entity on its valuation, which was repealed in April 2016. However, Banerjee remained skeptical about the current government's enthusiasm to introduce it. READ MORE

United Spirits, UBL, ITC: How to trade sin stocks ahead of Budget 2020

With a few days to go for the Union Budget 2020, expectations are running high across the sectors. As regards liquor and cigarette industry, reports say the Commerce Ministry has recommended restricting purchase of tax-free alcohol to one bottle at duty-free shops as part of steps to reduce import of non-essential goods. Further, it has also recommended that purchase of cigarette cartons at duty-free shops should be prohibited. These proposales, if implemented, are likely to impact sin stocks. READ MORE

Sun Pharma up 3%


Nifty sectoral indices at this hour


NEWS ALERT | SC allows Bidvest to move HC w.r.t. Mumbai International airport stake: CNBC TV18

-- Court refuses to urgently allow Bidvest to sell Mumbai International airport stake

BUZZING STOCK:: SPARC gains 5%, hits new 52-week high


IndiGo gains 3% as December quarter profit jumps 2-fold, pares gains later

The company's total income surged a robust 25.5 per cent to Rs 10,330.2 crore in the latest December quarter from Rs 8,229.3 crore in the corresponding period a year ago. READ MORE

Momentum picks by ICICI Securities


MARKET UPDATE:: Sensex pares all gains, turns flat


NEWS ALERT | Alembic Pharma gets USFDA nod for anti-bacterial drug, Azithromycin tablets: BSE Filing

>> Govt received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Azithromycin Tablets USP, 600 mg

>> Azithromycin Tablet is a macrolide antibacterial drug indicated for mild to moderate infections caused by designated, susceptible bacteria

Aptech slips 4% on reports of Sebi probe against Rakesh Jhunjhunwala

Aptech slipped around 4.5 per cent in early trade on Tuesday, after reports suggested Rakesh Jhunjhunwala, the billionaire stock market investor, is being probed by the market regulator Securities and Exchange Board of India (Sebi) in case of alleged insider trading in shares of the education firm. According to the latest shareholding pattern, Jhunjunwala along with his wife Rekha, own 24.24 per cent stake in the company.  READ MORE

HDFC gains 3% as Q3 PBT jumps 219% YoY on fair-value gain from Gruh Finance

Shares of HDFC advanced 3.13 per cent to Rs 2,470.85 on the BSE on Tuesday after the housing finance firm posted a strong December quarter result on Monday. The non-banking finance company (NBFC) reported a 219 per cent rise in profit before tax (PBT) at Rs 9,143 crore in the third quarter of the current financial year mainly aided by a one-time fair value gain of Rs 9,020 crore. READ MORE

Wockhardt up over 3%


MARKET CHECK:: Sensex holds early gains


InterGlobe Aviation off day's high as investors book profit


Most active stocks by volume

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
RELIANCE POWER 1.88 -0.09 -4.57 8659784
VODAFONE IDEA 5.86 0.05 0.86 2697055
DISH TV 14.80 1.01 7.32 815474
YES BANK 43.00 0.60 1.42 734538
SUZLON ENERGY 2.38 -0.05 -2.06 309863
» More on Most Active Volume

BUZZING STOCK:: Navin Fluorine surges 7%


Maruti Suzuki trades higher ahead of Q3 results today


Metal stocks trade lower amid weak global cues


Sebi's expert panel proposes stricter related-party regulations

The recommendations are made by a nine-member expert panel led by Ramesh Srinivasan, managing director & CEO, Kotak Mahindra Capital. Under the current definition, any person or entity belonging to the promoter group of the listed entity and holding 20 per cent or more of the listed entity is treated as a related party. The panel has proposed a change in the definition to cover any person or entity that directly or indirectly exercises control, irrespective of shareholding. READ MORE

JK Paper trades in the green

>> JK Paper on Monday reported 18 per cent increase in consolidated net profit at Rs 131.85 crore in the third quarter ended December, 2019, on the back of lower input costs and high operating efficiencies.


Navin Fluorine hits 52-week high post Q3 nos

>> Net profit of the company rose 17.55 per cent to Rs 45.42 crore in the quarter ended December 2019 as against Rs 38.64 crore during the previous quarter ended December 2018.


DHFL declines 3% after ED arrested CMD

>> The Enforcement Directorate has arrested the CMD of Dewan Housing Finance Ltd, Kapil Wadhawan, in connection with its money laundering probe against dead gangster Iqbal Mirchi and others, officials said on Monday.


IndGo rises 2% post 168% YoY rise in Q3 profit


Result impact | HDFC gains post Q3 nos


Sectoral trends at NSE during Opening trade


Top gainers and losers on S&P BSE Sensex during Opening trade


Market at Open


Market at Open


New launches, regulatory go-ahead key triggers for Dr Reddy's

A better-than-expected December quarter (Q3) performance helped the Dr Reddy’s stock gain over 5 per cent in trade on Monday. The top line growth of 14 per cent in the quarter was driven by robust performance in each of the key geographies the company operates in. READ MORE

Top gainers and losers on S&P BSE Sensex during Pre-open


Market at Pre-open


Market at Pre-open


Rupee opening

Rupee opens stronger at 71.37/$ vs Monday's close of 71.43 against the US dollar

Maruti Q3 preview: Analysts see healthy nos due to recovery in sales volume

Analysts at ICICI Securities have pegged Maruti's Q3FY20 profit after tax (PAT) at Rs 2,047 crore, up 37.5 per cent YoY. In comparison, the company had reported Rs 1,489.3 crore as PAT in the year-ago quarter.
 
Further, the brokerage house expects Maruti's total operating income in Q3FY20 at Rs 22,346 crore, up 13.6 per cent YoY, and 31.6 per cent QoQ. READ MORE

NEWS ALERT | .USFDA closes inspection at Cipla's Invagen manufacturing unit: BSE filing

>> Inspection between December 2, 2019 to December 6, 2019

>> The Company has received the Establishment Inspection Report (EIR), indicating closure of the inspection.

Rakesh Jhunjhunwala under Sebi probe for insider trading in 2016: Reports

Sebi is also investigating the role of other family members, as well as some board members, including investor Ramesh S Damani and director Madhu Jayakumar. Jhunjhunwala's brother and wife, Rajeshkumar Jhunjhunwala and Rekha Jhunjhunwala, are also being probed by market watchdog. READ MORE

ITI FPO subscribed 9% a day before close; firm plans to raise Rs 1,300 cr

The follow-on offering (FPO) of ITI, a government-owned technology firm operating in the telecom sector, was subscribed 9 per cent on Monday. The FPO closes on Tuesday. The price band for the FP0 is Rs 72-Rs 77 per share. The firm is looking to raise fresh capital of over Rs 1,300 crore. The issue will lead to dilution of 20 per cent. 

Stocks to watch: HDFC, IndiGo, Maruti, DHFL, Mastek, Manappuram Finance

Here's a look at the top stocks that may trade actively in today's trading session -
 
HDFC: The company on Monday reported 296 per cent year-on-year (YoY) rise in the standalone net profit at Rs 8,372.49 crore during the December quarter of FY20 (Q3FY20), compared to Rs 2,113.8 crore reported in Q3FY19.
 
IndiGo on Monday reported a 156.5 per cent jump in net profit for the October-December quarter, helped by lower fuel prices. READ MORE

After Sebi tightens norms, shadow banks' shares in loan against shares jump

Promoters strapped for funding, following the Securities and Exchange Board of India's (Sebi) move to tighten norms regarding loan against shares (LAS), have found some relief from non-banking financial companies (NBFCs). These now account for 53 per cent of the Rs 2.06 trillion worth of shares pledged by promoters as of December 31, 2019. READ MORE

IndiGo may hit air pocket in March qtr amid lean season, coronavirus threat

InterGlobe Aviation, which runs the country’s largest airline IndiGo, saw its pre-tax profit jump threefold to Rs 556 crore in the third quarter of FY20 on strong revenue growth. The company expects to complete modification of its Airbus A320Neo engines by May end, but expects a challenging fourth quarter because of lean season and coronavirus threat. READ MORE
Ronojoy Dutta, CEO, IndiGo

Bulk deals on BSE as on Monday

Bulk deals on NSE as on Monday

FII/FPI & DII trading activity on NSE, BSE and MSEI


Oil Check

>> Oil futures slipped on Tuesday, extending losses into a sixth session as the spread of a new virus in China and other countries raised concerns about a hit to economic growth and slower oil demand, Reuters reported.

>> At 8:24 am, Brent Crude Futures were at $58.29 per barrel, down 0.5 per cent.

Rupee check


SGX Nifty indicates a lower opening for Sensex, Nity


Asian Markets check


US Markets check

Source: Reuters


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