MARKET WRAP: Indices end flat, Nifty settles at 11,214; Asian Paints up 4%

Topics Markets | Vodafone Idea | YES Bank

The S&P BSE Sensex settled at 38,041, up 15 points or 0.04 per cent. (Photo credit: Kamlesh Pednekar)
The benchmark indices ended on a subdued note on Friday; however, the mid and small-cap indices logged decent gains during the session. 

The S&P BSE Sensex settled at 38,041, up 15 points or 0.04 per cent with Asian Paints (up over 4 per cent) being the top gainer and Titan Company (down over 2.5 per cent) the biggest loser. NSE's Nifty50 ended at 11,214, up 14 points, or 0.12 per cent. India VIX dropped over 3 per cent to 22.37 levels. 

In the broader market, the S&P BSE MidCap index gained over 200 points or 1.4 per cent to end at 14,219 while the S&P BSE SmallCap index closed the session at 13,669, up 106 points, or 0.78 per cent. 

On a weekly basis, Sensex gained 1.15 per cent while Nifty added 1.26 per cent.

The sectoral trend on the NSE was mixed. While IT and pharma stocks fell, auto, metals and financial stocks gained. The Nifty IT index slipped 1 per cent to 18,004 levels while the Nifty Pharma index ended at 11,333, down 0.6 per cent. On the other hand, Nifty Metal gained 0.85 per cent and Nifty Auto rose 0.75 per cent. Nifty Bank ended 0.5 per cent higher at 21,754 levels.

BUZZING STOCKS

Shares of Bayer CropScience hit an all-time high of Rs 6,449 apiece on the BSE during the day after the company reported encouraging numbers for the quarter ended June 2020 (Q1FY21). The stock ended at Rs 6,139, up 9 per cent. READ MORE

Shares of Lupin ended over 6 per cent lower at Rs 879.40 on the BSE after the pharmaceutical company's net profit for April-June quarter declined 60 per cent on a yearly basis to Rs 106.9 crore. Lupin had posted a profit of Rs 264.7 crore in the corresponding period of the previous year. READ MORE

Shares of Torrent Power rallied 9 per cent to hit a 52-week high of Rs 357.50 on the BSE during the day after the company posted a 35.3 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 372.66 crore against Rs 275.27 crore in the corresponding quarter of the previous fiscal. The stock ended at Rs 337, up nearly 3 per cent.

Further, shares of Mindspace Business Parks REIT on Friday listed on the BSE at Rs 304, a 10.54 per cent premium against its issue price of Rs 275 per share. The stock ended at Rs 303.87. 

 
Global markets 

World stock markets tumbled on Friday after US President Donald Trump ratcheted up already-heightened tensions with Beijing by banning US transactions with two popular Chinese apps, Tencent’s WeChat and ByteDance’s Tiktok.

European stocks looked set to recede as well, with Euro Stoxx 50 futures falling 0.3 per cent. S&P500 futures slid 0.5 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 1.0 per cent and Hong Kong’s Hang Seng fell 1.8 per cent. Tencent, Asia’s second-biggest company by market capitalisation, dropped as much as 10.1 per cent.

In commodities, oil dipped to around $45 a barrel on worries that a demand recovery would slow due to a resurgence of coronavirus cases, although a pledge from OPEC member Iraq to cut oil output further in August lent support.

(With inputs from Reuters)

4:15 PM IST The unrelenting pace of virus infections and other uncertainties led to the benchmark indices ending flat today with volatile trades. Global cues were also mostly negative, after Asian markets ended in losses following US actions on popular Chinese apps, and anticipating retaliatory action from China.   However, on a weekly basis, Indian benchmark indices ended up by around 1 per cent, following gains in the latter half of this week, on expectations of RBI policy easing to support the economic revival.   Week Ahead   Global markets will be definitely impacted by the heightened US-China tensions and imminent Chinese reaction. Heightened Chinese aggression could have a negative impact on our markets in the near term. However, there could be a silver lining for Indian markets in the long term, with global investors hesitating to invest in Chinese companies. For lack of options, some of this money could find its way into Indian companies, provided the right ecosystem is built. Earnings specific action will likely continue next week, with indices searching for direction in the near term. Accumulation continues the best strategy.

3:42 PM IST

3:41 PM IST

3:36 PM IST The S&P BSE Sensex ended at 38,041, up 15 points, or 0.04 per cent while NSE's Nifty settled above 11,200 levels at 11,214, up 14 points or 0.12 per cent.

3:25 PM IST

3:15 PM IST

3:03 PM IST >> Revenue at Rs 2,446 cr vs Rs 2,585 cr YoY

2:54 PM IST COMPANY DAY'S LOW(RS) DAY'S HIGH(RS) LATEST(RS) RISE(%) GMM PFAUDLER 4300.00 4995.00 4926.80 14.58 VODAFONE IDEA 7.64 8.88 8.73 14.27 HONEYWELL AUTO 27655.00 31100.00 30799.95 11.37 GUJARAT FLUOROCH 439.25 498.60 486.00 10.64 OMAXE 65.25 72.05 72.05 10.42 Click here for the full list

2:49 PM IST Shares of CG Power and Industrial Solutions hit a 5 per cent upper circuit limit of Rs 10.99 apiece on the BSE on Friday after the company informed that its board has approved the execution of a securities subscription agreement (SSA) with Tube Investments of India for the issuance and allotment of securities to it on a preferential basis. READ MORE

2:44 PM IST Crude Oil fell to below $45/bbl as participants trimmed their positions on low demand, weak global cues.#MOMarketUpdates— Motilal Oswal Financial Services Ltd (@MotilalOswalLtd) August 7, 2020

2:42 PM IST Asian stocks witnessed mixed Thursday after a three-day advance, while U.S. futures gained marginally amid encouraging news on the vaccine front and speculation over progress on a stimulus package. Both Nikkei and Hong Kong Index slipped half percent each. #MOMarketUpdates— Motilal Oswal Financial Services Ltd (@MotilalOswalLtd) August 7, 2020

2:39 PM IST

LIVE UPDATES

MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services

The unrelenting pace of virus infections and other uncertainties led to the benchmark indices ending flat today with volatile trades. Global cues were also mostly negative, after Asian markets ended in losses following US actions on popular Chinese apps, and anticipating retaliatory action from China.
 
However, on a weekly basis, Indian benchmark indices ended up by around 1 per cent, following gains in the latter half of this week, on expectations of RBI policy easing to support the economic revival.
 
Week Ahead
 
Global markets will be definitely impacted by the heightened US-China tensions and imminent Chinese reaction. Heightened Chinese aggression could have a negative impact on our markets in the near term. However, there could be a silver lining for Indian markets in the long term, with global investors hesitating to invest in Chinese companies. For lack of options, some of this money could find its way into Indian companies, provided the right ecosystem is built. Earnings specific action will likely continue next week, with indices searching for direction in the near term. Accumulation continues the best strategy.

SECTOR WATCH:: IT, pharma stocks decline


MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex


CLOSING BELL

The S&P BSE Sensex ended at 38,041, up 15 points, or 0.04 per cent while NSE's Nifty settled above 11,200 levels at 11,214, up 14 points or 0.12 per cent.

INDEX GAINER:: Asian Paints trades 4.5% higher


MARKET CHECK:: RBL Bank up 10%


June Quarter Result :: Adani Transmission posts profit of Rs 355 cr vs Rs 213 cr YoY

>> Revenue at Rs 2,446 cr vs Rs 2,585 cr YoY


Recovery from intra-day lows in today's session

COMPANY DAY'S LOW(RS) DAY'S HIGH(RS) LATEST(RS) RISE(%)
GMM PFAUDLER 4300.00 4995.00 4926.80 14.58
VODAFONE IDEA 7.64 8.88 8.73 14.27
HONEYWELL AUTO 27655.00 31100.00 30799.95 11.37
GUJARAT FLUOROCH 439.25 498.60 486.00 10.64
OMAXE 65.25 72.05 72.05 10.42
Click here for the full list

CG Power approves securities subscription agreement with Tube Invt; stk up

Shares of CG Power and Industrial Solutions hit a 5 per cent upper circuit limit of Rs 10.99 apiece on the BSE on Friday after the company informed that its board has approved the execution of a securities subscription agreement (SSA) with Tube Investments of India for the issuance and allotment of securities to it on a preferential basis. READ MORE

Oil check :: Motilal Oswal Financial Services

Asian Markets Wrap :: Motilal Oswal Financial Services

MARKET UPDATE:: Sensex turns green


Gold ETFs clock 8th consecutive month of positive flows, says WGC

Global holdings have once again reached a new all-time high of 3,785 tonnes and the price of gold hit a record high of 1,976 dollars per ounce by the July-end, leaving global AUMs standing at 239 billion.
 
Global net inflows of 899 tonnes (49.1 billion dollars) to date are considerably higher than previous annual highs, and the trend of inflows has continued in the first few trading days of August as the price of gold has breached 2,000 dollars per ounce. READ MORE

BUZZING STOCK:: Asian Paints up 4%; top Sensex gainer at this hour


Expert View :: Yash Gupta , Equity Research Associate at Angel Broking on Mindspace REIT

Post listing as the stock is trading ~10% above the issue price, traders and short term investors can look to book profits at current levels and lock in the listing gains. From a long term perspective it is one of the good assets class to be invested for similar or better post tax yield as compared to fixed Income with good opportunity for capital appreciation. However given the increasing trend of work from home there are some concerns about the company and the commercial real estate segment in the short to medium term as absorption may remain low in the near future

Reliance Broadcast defaults to debt schemes of Franklin Templeton MF

Franklin Corporate Debt Fund and Franklin Short Term Income Fund had exposure to these NCDs. Of these, Short Term Income Fund is being wound-up by FT MF.
 
In a note to investors, FT MF said that it was in the process of initiating appropriate enforcement action to recover dues from the issuer and other connected parties. READ MORE

Rupee at Close


June Quarter Result :: Alkem Lab's Q1 profit grows to Rs 426.1 cr vs Rs 210.6 cr YoY

>>  Revenue from operations stood at Rs 1,550.8 cr vs Rs 1,498.5 cr YoY
 

Mahindra & Mahindra's consolidated profit drops 97% YoY to Rs 68 cr in Q1

Mahindra & Mahindra reported a 97 per cent year-on-year (YoY) decline in consolidated net profit at Rs 67.79 crore for the June quarter of FY21 (Q1FY21). The company had reported a profit of Rs 2,259.74 crore in Q1FY20. READ MORE

NEWS ALERT :: RBI sets up KV Kamath committee for loan restructuring

>>  The Expert Committee shall also undertake the process validation for the resolution plans to be implemented under this framework, without going into the commercial aspects, in respect of all accounts with aggregate exposure of Rs 1500 crore and above at the time of invocation

>> The Committee shall submit its recommendations on the financial parameters to the Reserve Bank which, in turn, shall notify the same along with modifications, if any, in 30 days.

>> The Indian Banks’ Association shall function as the Secretariat to the Committee and the Committee shall be fully empowered to consult or invite any person/s it deems fit.


Pidilite Industries jumps 4% on better-than-expected June quarter results

Pidilite Industries' shares surged up to 4.4 per cent to Rs 1,391 on the BSE on Friday after the company's June quarter result, released post market hours on Thursday, came beat Street expectations. The company reported consolidated net profit of Rs 15.82 crore for the quarter under review, as against profit of Rs 294.39 crore in Q1FY20. READ MORE

MARKET CHECK:: Top 5 losers on the BSE at this hour


Price breakout suggests more upside for cement stocks

ACC Ltd (ACC): As the price approaches the 200-weekly moving average (WMA), which is at Rs 1,474 levels, the counter has started witnessing profit booking. The 200-WMA has become an immediate resistance and the next breakout appears to be above Rs 1,474 levels. READ MORE

June Quarter Result :: M&M posts consolidated profit of Rs 67.8 crore

>> Consolidated revenue came in at Rs 5,589.4 crore

>> EBITDA at Rs 573.1 crore

>> EBITDA margin at 10.2%

Alert: All numbers are for M&M + MVML


MARKET WATCH:: RBL Bank surges over 7%


BUZZING STOCK:: Bajaj Finance rises 3%


NEWS ALERT :: Dilip Buildcon declared as lowest bidder for a new HAM project in Karnataka worth Rs 1,278 cr

Source: BSE filing



Trump admin proposes delisting of Chinese firms failing to meet audit norms

The Trump administration is considering a proposal to crackdown on Chinese companies that are listed in the US and do not follow American audit requirements, according to a media report. As per the proposal, as reported by The Wall Street Journal, the Chinese companies listed on American stock exchanges like New York Stock Exchange and NASDAQ be subject to audit by US regulators or else they would be delisted. READ MORE

June Quarter Result :: Sobha reports consolidated profit of Rs 6.6 cr vs Rs 91 cr YoY

>> Consolidated revenue at Rs 350 crore vs Rs 1,177 cr YoY


Loan restructuring may only provide short-term respite to lenders

The Reserve Bank of India’s (RBI’s) measures aimed at resolving Covid-19 stress and restructuring of MSME (micro, small and medium enterprises) advances in light of the pandemic-led economic disruptions, announced in Thursday's monetary policy, enthused those investing in bank and non-banking financial company (NBFC) stocks. READ MORE

Top Sensex gainers and losers at this hour


PI Industries: Strong FY21 outlook, de-risking plans bode well for company

The stock of PI Industries, India’s second largest agrochemicals company by market capitalisation, hit record levels of Rs 2052.75 intraday before ending 7.4 per cent higher on Thursday. The price movement came on the back of strong June quarter results and a robust growth outlook for FY21. Despite the Covid-19 disruption, the company posted a 41 per cent increase in revenues led by the domestic business. READ MORE

BUZZING STOCK:: Tata Consumer Products jumps around 9%


MARKET CHECK:: BSE Midcap index surges 1.4%, outperforms Sensex


Delta Corp surges 17% as BSE revises circuit limit from 5% to 20%

Delta Corp shares surged 17.4 per cent to Rs 115.5 on the BSE on Friday, supported by heavy volume, after the BSE increased its circuit limit from 5 per cent to 20 per cent. At 11:05 am, the stock was trading at Rs 110 apiece on the BSE, as against 80 points, or 0.21 per cent, slide in the benchmark S&P BSE Sensex. A combined 11.77 million shares had changed hands on the NSE and BSE till the time of writing of this report. Of this, volumes on BSE were 0.5 million, which was nearly double the volume seen on the counter so far in the current week on the exchange. READ MORE 


MARKET CHECK:: M&M trades flat ahead of June quarter nos


Eveready Ind., Delta Corp: BSE revises circuit limit for over 600 stocks

BSE on Thursday relaxed circuit limits for over 600 stocks with nearly three dozen counters, including Delta Corp, Centrum Capital, Eveready Industries and KPIT Technologies, moving to the 20 per cent circuit filter from the earlier 5 per cent. Nelco Ltd, Himatsingka Seide, Hind Aluminium Industries, IFCI Ltd, Igarashi Motors India, Indian Terrain Fashions, Indian Toners & Developers, Aditya Birla Money and Asian Granito India are some of the counters where the circuit limit has been revised from the existing 10 per cent to 20 per cent now. READ MORE

BROKERAGE VIEW:: YES Securities on Honeywell Automation

RATING: BUY | TARGET PRICE: Rs 36,310

Honeywell Automation (HWA) reported a resilient set of results with the beat on all fronts. PAT beat (+54% vs our estimates) led by, marginal impact of lockdown on execution, gross margin expansion and better cost control. Revenues came in at Rs 7.4bn, up 4.5% qoq & down 14% yoy. Gross margin was at ~51%, expansion of ~200bps yoy led by better product mix. EBITDA stood at Rs1.3bn, down 24% yoy with EBITDA margin of 17.4% (-231bps yoy). HWA is focusing to offset revenue drop by managing its variable cost structure, rationalisation of discretionary spends, productivity drives, etc. Lower tax expenses (-45% yoy) negated the impact of the decrease in other income (-6% yoy) & increase in depreciation cost (+36% yoy). Tax rate stood at 25.9% vs 35.4% in Q1FY20. PAT came in at Rs 980mn, down 14% yoy.

BROKERAGE VIEW:: Geojit Financial Services on SBI

Backed by a well-diversified loan portfolio and a strong balance sheet with lower exposure to high-risk sectors, we believe that the bank’s valuation remains attractive. Hence, we reiterate our BUY rating with a target price of Rs 246 using the SOTP methodology, valuing the standalone bank at 0.57x FY22E BVPS at Rs 173 and subsidiaries at Rs 73

BROKERAGE VIEW:: ICICI Securities on DLF

DLF’s net debt declined marginally by Rs0.4bn QoQ to Rs 52.3bn on account of reduction in overheads and interest costs. DLF is
comfortably positioned with Rs23bn of cash reserves and low net D/E of 0.2x. At DCCDL level, the company continues to post collections of over 95% in offices while mall collections have seen a short-term impact on account of temporary closures. We retain our BUY rating with a revised target price of Rs209/share (earlier Rs223) as we factor in higher FY21 losses in malls and marginal delay in the commencement of upcoming rental assets.

BROKERAGE VIEW:: Edelweiss Securities on Whirlpool India

The sharp dip in Whirlpool India’s (WHIRL) Q1FY21 top line (down 48% YoY) came in line with our estimate. Even as input cost rose during the quarter, sustained overheads over the past few quarters (led by SKU addition, recent expansion, salesforce, in our view) have continued to contribute to the earnings miss. The company continues to focus on monthly SKU roll out and marketing initiatives which have helped it retain its competitive edge, according to our channel checks. In our view, WHIRL’s positioning in refrigerators (~60% of revenue) is sustainable given robust product positioning and distribution ramp up. Notwithstanding this, we maintain that its capability to beat consensus and returns scale up (key to re-rating in the past) will face greater challenges given the changing competitive dynamics. Retain ‘REDUCE’ with TP of Rs 1,260. We prefer Voltas in the durables space given its better scale potential.

BROKERAGE VIEW:: Edelweiss Securities on PI Industries

PI Industries’ (PI) Q1FY21 numbers surpassed our estimates driven by domestic and CSM businesses. While domestic sales (up 76% YoY) benefited from Q4FY20 spillover, early start of the season, and good monsoon, CSM business grew 23% YoY despite Covid-19 challenges. With a successful QIP (Rs 20 bn), management is confident of enough organic / inorganic growth opportunities (including pharma). We revise up target multiple to 35x at a previous peak (from 30x) and target price to Rs 1,911 (from Rs 1,576) given a strong growth outlook further accelerated by the QIP. Having said that, we remain cautious as maintaining margin and return ratios in new opportunities (primarily pharma) could be a key risk. Maintain ‘HOLD’.

NEWS ALERT | PM Modi addresses ‘Conclave on transformational reforms in higher education under National Education Policy’

Torrent Power surges 9%, hits 52-week high after June quarter result

Shares of Torrent Power rallied 9 per cent to hit a 52-week high of Rs 357.50 on the BSE on Friday after the company posted a 35.3 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 372.66 crore against Rs 275.27 crore in the corresponding quarter of the previous fiscal. Revenue from operations, however, stood at Rs 3,007.05 crore, down 19.5 per cent against Rs 3,736.13 crore in the June 2019 quarter. READ MORE

Mindspace Business Parks REIT lists at 11% premium over issue price

Shares of Mindspace Business Parks REIT on Friday listed on the BSE at Rs 304, a 10.54 per cent premium against its issue price of Rs 275 per share. Till 10:27 AM, the stock had hit an intra-day high of Rs 208.90 and an intra-day low of Rs 299 per share on the exchange. A combined1.43 crore shares have changed hands the NSE and the BSE, so far. READ MORE

HPCL advances 4% as Q1 pre-tax profit leaps 140% YoY to Rs 3,120 crore

The stock, however, erased gains and was quoting 0.74 per cent lower at Rs 215 apiece on the BSE at 10:34 am. In comparison, the S&P BSE Sensex was at 37,978.34 level, down 47 points or 0.12 per cent. A combined 11.5 million shares had changed hands on the counter on the NSE and BSE till the time of writing of this report. READ MORE

Most active stocks by volume

COMPANY PRICE(rs) CHG(%)
VODAFONE IDEA 8.07 -2.18
AXIS BANK 433.45 0.10
BANDHAN BANK 304.65 1.55
DLF 141.75 -0.67
SOUTH IND.BANK 7.06 0.28
» More on Most Active Volume

Eveready Ind., Delta Corp: BSE revises circuit limit for over 600 stocks

"Trading Members of the Exchange are hereby informed that as a part of review of the surveillance action, the price band are revised in the various scrips. The revised price band as indicated there under will be effective from August 07, 2020. Scrips in Trade for Trade (T2T) segments will continue to attract a price band of 5 per cent or lower, as applicable," the exchange said in a notification. READ MORE

Lupin plunges 6% as June quarter profit tanks 60% YoY to Rs 107 crore

Shares of Lupin Ltd plummeted up to 6.2 per cent to Rs 878.15 per share on the BSE on Friday after the pharmaceutical company's net profit for April-June quarter declined 60 per cent on a yearly basis to Rs 106.9 crore. Lupin had posted a profit of Rs 264.7 crore in the corresponding period of the previous year. On a quarterly basis, profit tanked 72.6 per cent from Rs 389.6 crore in the March quarter of FY20. READ MORE

NEW LISTING | Mindspace Business Parks REIT lists at 10.54 per cent premium against the issue price at Rs 304 on the BSE


Rupee opening

Rupee opens lower at 75.06/$ vs Thursday's close of 74.93 against the US dollar

Bayer CropScience hits all-time high as Q1 net jumps 86% YoY to Rs 252 cr

For the quarter under review, Bayer CropScience reported an 86 per cent increase in its consolidated net profit at Rs 251.7 crore on better monsoon that helped boost its sales of seeds and crop protection products. The company had posted a profit of Rs 135.3 crore in the year-ago period. Profit before exceptional items and tax came in at Rs 313.8 crore, up 54 per cent against Rs 203.5 crore in the June 2019 quarter. READ MORE 


NEWS ALERT :: HDFC Bank cuts MCLR by 10 bps with immediate effect


Pidilite Industries trades flat post Q1 nos


MARKET CHECK:: Sensex off opening lows


Broader market check :: Mid, small-caps perform better than benchmarks


JK Tyre & Industries dip 3%

>> JK Tyre & Industries on Thursday reported a consolidated net loss of Rs 204.17 crore in the first quarter ended June 30, hit by lower sales due to coronavirus pandemic. The company had posted a net profit of Rs 16.12 crore in April-June period of previous fiscal.


Bayer CropScience hits 52-week high post Q1 nos

>>  The company on Thursday reported an 86 per cent increase in consolidated net profit at Rs 251.7 crore for the June quarter on better monsoon that helped boost its sales of seeds and crop protection products.


Result Impact | Lupin tumbles 6%

>> The pharma company on Thursday reported a 58.9 per cent YoY fall in its profit after tax (PAT) at Rs 108.2 crore.


HPCL trades over 1% higher on over 100% jump in pre-tax prfit

>> Hindustan Petroleum Corp Ltd (HPCL) on Thursday reported over two-fold jump in its June quarter net profit to Rs 2,252.65 crore. The company had a net profit of Rs 877.48 crore in April-June 2019, HPCL said in a regulatory filing.


Vodafone Idea trades weak post Q1 nos

>> ndia's third largest telecom operator Vodafone Idea on Thursday reported a sharp rise in its losses to Rs 25,460 crore for the April-June quarter of 2020-21 due to high provisioning for statutory dues.

Sectoral trends on NSE at Open


Top gainers and losers on the S&P BSE Sensex at Open


Opening Bell


Opening Bell


NEWS ALERT :: Gold scales fresh peak again on MCX


Markets at Pre-open


Markets at Pre-open


Trading strategies for Aluminium and Natural Gas by Tradebulls Securities

Buy Natural Gas | TGT: 172 | Stoploss 158
 
Natural Gas (NG) has breached its previous resistance of 163 so we are bullish on the counter. Like every other commodity, NG is in overbought zone as RSI_14 is at 70 but again underlying trend is bullish with no sign of reversal. We would recommend going long near 162 with target of 172 and stoploss of 158 on a closing basis. READ MORE

Top stocks to watch out for today

HPCL: Hindustan Petroleum Corp Ltd (HPCL) on Thursday reported over two-fold jump in its June quarter net profit to Rs 2,252.65 crore. The company had a net profit of Rs 877.48 crore in April-June 2019, HPCL said in a regulatory filing.

Vodafone Idea: India's third largest telecom operator Vodafone Idea on Thursday reported a sharp rise in its losses to Rs 25,460 crore for the April-June quarter of 2020-21 due to high provisioning for statutory dues.

Lupin: The pharma company on Thursday reported a 58.9 per cent YoY fall in its profit after tax (PAT) at Rs 108.2 crore. READ MORE 


Nifty view and stock calls by Anand Rathi: Buy Glenmark Pharma, MPhasis

BUY UPL | TARGET: Rs 490 | STOP LOSS: Rs 448
 
The counter is trading in a rising channel and has also formed a bullish engulfing candlestick pattern near its lower rising trend line. The overall setup indicates that the positive momentum might continue towards the upper end of the channel which is placed at 490 levels. It is also taking the support of its short term 21-DMA which is currently placed near 450 levels. The MACD has provided a buy crossover on the hourly chart which hints at a further positive momentum in the counter. READ MORE

Here's a Bull Spread strategy for NMDC by Nandish Shah of HDFC Securities

Bull Spread strategy on NMDC
 
>> Buy NMDC 90 CALL at Rs 4 & simultaneously sell 100 Call at Rs 1.30
 
>> Lot Size 6700.

>> Cost of the strategy Rs 2.7 (Rs 18090 per strategy) READ MORE

Bulk deals on NSE as on Thursday

Bulk deals on BSE as on Thursday

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


NEWS ALERT :: Donald Trump signs order banning transactions with TikTok parent company

“This mobile application may also be used for disinformation campaigns that benefit the Chinese Communist Party,” Trump said in the order, released Thursday by the White House. The data collection through TikTok “threatens to allow the Chinese Communist Party access to Americans’ personal and proprietary information -- potentially allowing China to track the locations of Federal employees and contractors, build dossiers of personal information for blackmail, and conduct corporate espionage.” READ MORE

SGX Nifty hints at lower opening

>> At 8:25 am, the index was down 26 points, or 0.23 per cent, at 11,188

Wall Street gains as markets look to aid package, Nasdaq closes above 11,000

Source: Reuters


Asian stocks mixed

Source: Reuters


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