Sensex recovers 600 pts from day's low, ends 223 pts up; FMCG, pharma rally

NSE's Nifty settled at 9,580, up 90 points or 1 per cent
Supported by buying in FMCG, pharma, and auto counters, the domestic equity market ended in the positive territory on Friday, ahead of the release of GDP data for January-March quarter of 2019-20 (Q4FY20).

The benchmark S&P BSE Sensex recovered a good 600 points from day's low to settle at 32,424.10, up 223.15 points or 0.7 per cent. ONGC (up 5.5 per cent) was the the top gainer on the index while IT major Infosys (down 2 per cent) ended as the biggest loser. 

NSE's Nifty settled at 9,580, up 90 points or 1 per cent, with 36 of 50 constituents advancing and 14 declining. 

On a weekly basis, Sensex gained 5.7 per cent and the Nifty added 6 per cent.

Broader market, too, participated in the rally. The Nifty Midcap 100 index gained over 1 per cent to 13,273 and the Nifty SmallCap 100 index rose nearly a per cent to 4,002.80.

Among individual stocks, Vodafone Idea rallied 35 per cent to Rs 7.85 in the intra-day deals on the BSE, after reports said that the global technology giant Google is in talks to buy a 5 per cent stake in the company, owned by Vodafone Plc of the UK and Aditya Birla Group. The stock, however, pared gains and ended around 13 per cent higher at Rs 6.56 after the company clarified on the report, saying there is no proposal as reported by the media that is being considered at the Board. READ MORE 

IT services firm Wipro surged 6.65 per cent to Rs 212.55 after the company named Thierry Delaporte as the new chief executive officer (CEO) and managing director (MD) of the company, replacing Abidali Neemuchwala. Delaporte was most recently the chief operating officer of French consulting and technology firm Capgemini Group. READ MORE

Shares of pharmaceutical companies were in focus with Nifty Pharma index gaining over 3 per cent on expectation of strong demand scenario from both domestic and export market. READ MORE

 
Global markets

Global stock markets fell and safe havens such as bonds and the Japanese yen gained on Friday, as investors awaited Washington’s response to China tightening control over the city of Hong Kong.

US President Donald Trump said he would hold a news conference on China later on Friday.

In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent. Japan’s Nikkei retreated from a three-month high and the yen rose to a two-week high of 107.06 against the dollar. 

In Europe, stocks opened lower with the pan-European STOXX 600 index down 0.86 per cent. Germany’s DAX fell 1.2 per cent, Britain’s FTSE 100 by 7 per cent and France’s CAC 40 by 1 per cent. Futures for the S&P 500 slipped 0.4 per cent. 

In commodities, oil prices edged lower and was set to post their first weekly fall in five weeks, after US inventory data showed lacklustre fuel demand in the world’s largest oil consumer while worsening US-China tensions weighed on global financial markets.

Gold, on the other hand, traded flat.

(With inputs from Reuters)


4:15 PM IST “The current week was one of the best for global markets as most major global indices rallied during the week. The Sensex which has been underperforming the MSCI emerging markets also delivered a strong rally with gains of 5.3% for the week. Most state governments have further relaxed lockdown norms in the current phase as well as allowed domestic air-travel to resume. Hero Motocorp, Marut Suzuki and HDFC Bank were among the top gainers while Bharti Airtel, Bajaj Finance, and Power Grid lost the most in the BSE-30 Index.    FPIs bought equities worth US$209 mn over the past five trading sessions while DIIs bought US$1.02 bn worth of equities in the same period. Tensions between India and China and China and the US remain a concern for the markets. Also, any acceleration in COVID-19 infections could further slow down the lifting of lockdown and delay any economic recovery. Notwithstanding the near-term uncertainty, valuations are attractive on a medium-term basis.”

3:45 PM IST

3:43 PM IST

3:36 PM IST The S&P BSE Sensex ended 223.5 points or 0.69 per cent higher at 32,424 while NSE's Nifty ended at 9,580, up 90 points or 0.95 per cent.

3:28 PM IST

3:23 PM IST >> Sun Pharma has received approval from the Drugs Controller General of India (DCGI) to initiate a clinical trial with Nafamostat Mesilate in Covid-19 patients; >> Nafamostat is approved in Japan for improvement of acute symptoms of pancreatitis and treatment of Disseminated Intravascular Coagulation (DIC).

3:18 PM IST -- Sun Pharma, Dr Reddy's, Aurobindo Pharma and Divis Labs all up over 4%

3:17 PM IST

3:10 PM IST

3:06 PM IST

3:00 PM IST Google investment into VIL can be incrementally positive, but a 5 per cent stake is unlikely to move the needle or provide any meaningful relief to VIL's debt problems, said Credit Suisse.   "We think unless Google (or any other external investor) looks at acquiring a controlling stake in VIL, the chances of company's long term survival beyond FY23 (when the moratorium on deferred spectrum debt ends) appears to be low," it said. READ MORE

2:50 PM IST

LIVE UPDATES

MARKET COMMENT:: Sanjeev Zarbade, VP PCG Research, Kotak Securities

“The current week was one of the best for global markets as most major global indices rallied during the week. The Sensex which has been underperforming the MSCI emerging markets also delivered a strong rally with gains of 5.3% for the week. Most state governments have further relaxed lockdown norms in the current phase as well as allowed domestic air-travel to resume. Hero Motocorp, Marut Suzuki and HDFC Bank were among the top gainers while Bharti Airtel, Bajaj Finance, and Power Grid lost the most in the BSE-30 Index. 
 
FPIs bought equities worth US$209 mn over the past five trading sessions while DIIs bought US$1.02 bn worth of equities in the same period. Tensions between India and China and China and the US remain a concern for the markets. Also, any acceleration in COVID-19 infections could further slow down the lifting of lockdown and delay any economic recovery. Notwithstanding the near-term uncertainty, valuations are attractive on a medium-term basis.”

SECTOR WATCH:: Nifty Pharma gains over 3%


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


CLOSING BELL

The S&P BSE Sensex ended 223.5 points or 0.69 per cent higher at 32,424 while NSE's Nifty ended at 9,580, up 90 points or 0.95 per cent.

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


MARKET UPDATE:: Sun Pharma gains over 4%

>> Sun Pharma has received approval from the Drugs Controller General of India (DCGI) to initiate a clinical trial with Nafamostat Mesilate in Covid-19 patients;

>> Nafamostat is approved in Japan for improvement of acute symptoms of pancreatitis and treatment of Disseminated Intravascular Coagulation (DIC).

MARKET UPDATE:: Nifty Pharma index hits 52-week high of 9,758, surpasses previous high of 9,753, touched on April 27

-- Sun Pharma, Dr Reddy's, Aurobindo Pharma and Divis Labs all up over 4%

BUZZING STOCK | ONGC climbs over 5.5%


MARKET UPDATE :: All sectoral indices turn positive


MARKET UPDATE:: HDFC, ITC lead contributors to Sensex's over 600 point recovery from day's low


Google's interest positive but may not help solve Voda Idea's debt woes

Google investment into VIL can be incrementally positive, but a 5 per cent stake is unlikely to move the needle or provide any meaningful relief to VIL's debt problems, said Credit Suisse.
 
"We think unless Google (or any other external investor) looks at acquiring a controlling stake in VIL, the chances of company's long term survival beyond FY23 (when the moratorium on deferred spectrum debt ends) appears to be low," it said. READ MORE

MARKET CHECK:: Sensex at day's high


STOCK ALERT :: GM Breweries breaks 200-DEMA


NEWS ALERT :: No (such) proposal being considered at the Board, says Vodafone Idea on Google investment report

"The Company constantly evaluates various opportunities for enhancing the stakeholders’ value. As and when such proposals are considered by the Board of Directors of the Company warranting disclosures, the Company shall comply with the disclosure obligations under the SEBI regulations. Currently, there is no  proposal as reported by the media that is being considered at the Board".

-- Company Statement
 

Recovery from intra-day lows in today's session

COMPANY DAY'S LOW(RS) DAY'S HIGH(RS) LATEST(RS) RISE(%)
IFCI 4.00 4.88 4.77 19.25
VODAFONE IDEA 6.40 7.85 7.38 15.31
IDFC FIRST BANK 19.75 22.75 22.75 15.19
MAX INDIA 56.30 65.85 62.45 10.92
Click here for the full list

MARKET CHECK :: Indices at day's high


Pharma shares in focus: Cipla, Aurobindo Pharma hit 52-week high

Among individual stocks, Dr Reddy’s Laboratories, Aurobindo Pharma, Divis Laboratories, Biocon, JB Chemicals & Pharmaceuticals, Caplin Point Laboratories, Aarti Drugs, Indoco Remedies, RPG Lifesciences and Glenmark Pharmaceuticals were up in the range of 3 per cent to 5 per cent on the National Stock Exchange (NSE). READ MORE

Rupee Closing

>> Rupee closes higher at 75.61 per US dollar vs Thursday's close of 75.76/$

BUZZING STOCK | Concor gains 6%


Bharat Bond ETF second tranche worth Rs 14,000 cr to hit market in mid-July

In February, Finance Minister Nirmala Sitharaman had announced the second tranche and last week Edelweiss AMC, the fund manager, said it would issue Rs 3,000 crore, with a greenshoe option of Rs 11,000 crore. AK Capital is also closely working on the issue as an advisor to the government, which in a video call last week gave the go ahead for the second tranche of the ETF. READ MORE 

Radhika Gupta, CEO, Edelweiss MF, flanked by Nitin Jain, CEO, Edelweiss Global Investment Advisors and Hemant Daga, CEO, Global Asset Management in Mumbai | Photo: Kamlesh Pednekar

ABFRL: Multiple headwinds likely in near term, investors advised caution

The Aditya Birla Fashion Retail (ABFRL) stock jumped 9 per cent on Thursday after the firm announced deleveraging and cash generation plans that include a rights issue, liquidating inventory, and cutting capital expenditure by 60-70 per cent in FY21. Net debt, which had decreased from Rs 1,891 crore in FY18 to Rs 1,645 crore in FY19, surged to Rs 2,516 crore in FY20. READ MORE

Q4FY20 GDP | India's economy may have grown at slowest in 2 years: Poll

Gross domestic product data out later on Friday is expected to show the country's economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already declining consumer demand and private investment.
 
The median forecast from a Reuters poll of economists put annual economic growth at 2.1% in the March quarter, lower than 4.7% in the December quarter. Forecasts ranged between +4.5% and -1.5%. READ MORE

BUZZING STOCK | Adani Enterprises rises 7%


Govt mulling more policy action for NBFCs, regulatory changes for markets

The Narendra Modi government is considering additional policy measures for non-banking financial companies, and regulatory changes to ensure the stability of the financial system, Business Standard has learnt. This comes after Finance Minister Nirmala Sitharaman interacted with the country’s top regulators at a meeting of the Financial Stability and Development Council on Thursday. READ MORE

US to announce 'certain decisions' on China: Donald Trump

The US would announce "certain decisions" on China on Friday, President Donald Trump has said as he emphasised that Beijing should have stopped the coronavirus at the source. Led by the US, several countries in the world have blamed China for the spread of coronavirus and its failure to provide timely information about the disease, leading to the death of over three lakh people and causing an unprecedented economic crisis. READ MORE

MARKET CHECK | Top 5 gainers on the BSE at this hour


MARKET UPDATE :: RIL-RE slumps over 6% on last day of trade


MARKET CHECK


NEWS ALERT :: SC agrees to hear Cyrus Mistry’s plea of proportionate representation for Pallonji Group on Tata Sons board

>> Plea seeks representation on Tata Group's board proportionate to 18.4% holding of Pallonji Group

>> Seeks removal of affirmative vote in hands of select Tata Sons' directors

(As reported by CNBC TV18)

SECTOR WATCH:: OMCs gain

COMPANY NAME LATEST HIGH CHG(%)
O N G C 79.15 79.85 0.38
I O C L 79.65 79.95 2.51
H P C L 196.65 196.95 5.73
B P C L 336.95 337.75 3.41
Click here for the full list

F&O :: May series analysis

>>  Due to smart recovery in last two sessions, index trimmedoff most of its Month-on-Month losses and concluded the May series near to 9,500 zones, with loss of 3.75% from its April expiry close.

>> Some long positions got formed in recent bounce and part of it got rolled to June series as Rollover for Nifty stood at 75.67%, which is higher than its quarterly average of 70.36%

>> FIIs also participated in the fall towards 8800 zone (in Nifty) as they continued to sell index futures (their index Long Short Ratio reached to 28% on 18th May). However, we witnessed good amount of buying interest from FIIs desk in last few days and as a result, their Long Short Ratio has moved to 63.21%.

>> On option front, open interest activity is scattered at 10,000 and 9,500 Call options; while highest Put OI is at 9,000, followed by 9,600 and 8,500 strikes. Option data suggests a wider trading range in between 9,000 and10,000 zones.

>> Bank Nifty: Due to a sharp rally of more than 1700 points in last two sessions, it managed to conclude May series above 19100 levels. We witnessed good amount of short buildup in the down move; but decent short covering was seen towards the fag end of May series. At current juncture, some short positions are still intact in the system as open interest increased by 42.74% on M-o-M basis. Rollover in BankNifty stood at 81.13%, which is higher than quarterly average of 70.60%.

>> Overall derivatives data of BankNifty indicates that short positions are there in the system and if it sustains above 19,500, then we may see further short covering move towards 20,600 and then 22,000 mark. While immediate support for BankNifty is now placed at 18,200 level and below that major support at 17,000 zone.

>> Stock-wise: Good amount of long rollovers in counters like Balkrisha Inds, ZEEL., Jindal Steel, Ramco Cement, Godrej CP, etc. While stocks which added shorts and the same got rolled to next series are Ashok Leyland, Colpal, Bajaj Finserv, Chola Fin., PNB, Indusind Bank, etc.

(Source: Motilal Oswal Financial Services)

NEWS ALERT | Axis Bank's 35L shares change hands in 3 block deals, CNBC-TV18 reports

>> Shares worth Rs 133 cr changed hands on BSE and NSE at Rs 378.6 - Rs 381.45 / share

MARKET UPDATE | Manappuram Finance trades 4.5% higher


NEWS ALERT | PM Modi's meeting with Amit Shah to discuss lockdown extension concludes: CNBC TV18

Auto index outperforms benchmark Sensex for second straight month

Thus far in the month of May, the S&P BSE Auto index has gained 5 per cent, as compared to 5 per cent decline in the S&P BSE Sensex. In the previous month of April, the auto index soared 24 per cent against 14.4 per cent rise recorded by the benchmark index. In the first three months (January-March), the auto index had tanked 42 per cent, as compared to 29 per cent decline in the Sensex. READ MORE

BROKERAGE VIEW:: Edelweiss Securities on Quess Corp

Operationally, Quess Corp (Quess) sustained growth momentum in Q4FY20 with 25-30% organic growth in revenue and EBITDA. Headcount addition of 60k plus in FY20 in general staffing indicates massive market share gains. Notably, in Q4FY20, Quess has taken a sizeable impairment charge (non-cash) of Rs 6.6bn, impairing ~38% of its goodwill, given the potential front-ended cash flow hit due to COVID-19. Management indicated headcount decline of 10-15% during Q1FY21; but our base case assumes 20-25% dip for FY21, based on our channel checks. A few businesses such as training and parts of facility management faced some headwinds. On the positive side, balance sheet seems healthier YoY (net debt/EBITDA <1x) and with M&A on the backburner, it should get heft. In our view, the 65% stock price fall since February largely captures the damage to FY21/22E earnings and at 11x FY22E earnings, valuations are enticing. Retain ‘BUY’ and TP of Rs 338.

BROKERAGE VIEW:: Prabhudas Lilladher on Federal Bank

Rating: BUY | CMP: Rs 43 | TP: Rs 67

Bank also had to provide acturial employee benefits of Rs1.2bn owing to drop in yields. Adjusting to COVID, core performance would have been undeterred but seems slippgaes run rate still would have been at Rs5.0-6.0bn/qtr and still leading to higher provisions. Key negative was NIMs still remaining dismal at 3.0%, while positive was better deposit growth in NRE/Retail TD & SA. We retain BUY with revised TP of Rs 67 (from Rs73) based on 0.9x Mar-22 ABV as valuations are undemanding amongst mid-cap banks.

BROKERAGE VIEW:: ICICI Securities on Coal India

With coal inventories at power plants reaching 30 days, CIL’s production continues to be subdued and focus remains on OB removal to prepare it for higher demand in the subsequent months. However, offtake has improved substantially, particularly in the past week and now clocks 1.35mnte/day from 1.1mnte/day during Apr’20.

We maintain our BUY rating on CIL, but cut our target price to Rs 264 (earlier: Rs 284), valuing on DCF basis with a peak production of 850mnte from FY29E onwards.

BROKERAGE VIEW:: Anand Rathi Shares on KPIT Technologies

TP: Rs 85 | Rating: BUY

At $76.9m, KPIT reported flat quarter (up 0.1%q/q, 8%y/y). It lost 1.5% in revenue on account of Covid-19 this quarter. The EBIT margin came at 8.5%, up 28bps q/q, down 82bps y/y. The company continued to strengthen its balance sheet, ending FY20 with high, Rs 3,278m, net cash. Despite Q4 being better than expected, auto/engineering is seeing headwinds ahead, with management talking of up to a 15% drop in Q1 revenues. We cut our FY21e/FY22e revenues 15%, resulting in a lower target of Rs 85 (Rs 100 earlier) at 13x FY22e EPS.

BROKERAGE VIEW:: Emkay Global Financial Services on Britannia

TP: Rs 3,900 (12 months) | Rating: BUY
  • We increase Britannia’s (BRIT) estimates by 12% and raise our TP to Rs3,900 (from Rs 3,250), factoring in stronger-than-expected growth trends in its portfolio, acceleration in market share gains and multiple tailwinds for higher growth and margin expansion.
  • BRIT is emerging as the biggest beneficiary from the disruption, as packaged foods consumption is growing strongly, led by higher in home consumption and lesser avenues for out-of-home consumption. The shift from unorganized/street food to packaged foods may sustain even post lockdown given higher preference for hygiene and trusted brands.
     
  • In addition, BRIT’s better distribution capabilities with strong direct reach, wide portfolio and faster innovation makes it well-placed to accelerate share gains. Margin outlook has also improved on benign input prices, steady cost-saving culture, reduced competitive activity (reduction in trade schemes) and better portfolio mix
  • Valuations at 41xFY22 are still attractive given the improved growth outlook and likely upsides to earnings. Re-iterate BUY and maintain BRIT as an EAP high conviction idea.

BROKERAGE VIEW:: Emkay Global Financial Services on TVS Motor

TP: Rs 296 (12 months) | Rating: SELL 
  • Q4FY20 revenue declined 21% yoy to Rs34.8bn (est.:Rs33.2bn), while adj. PAT fell 26% to Rs993mn (est.:Rs459mn), above estimates due to higher OPM, increase in other income and lower tax. OPM was flat at 7% (est.: 6.2%), above estimates due to the change in inventory and cost-reduction efforts.
  • Demand prospects remain subdued for both Overseas and Domestic markets. Apart from Covid-19 lockdowns, demand in overseas markets is likely to be adversely impacted due to a fall in global commodity prices and adverse currency movement. In comparison, domestic demand is be affected by steep price increases.
  • Led by the lockdown and expectation of gradual pick-up in demand, we reduce our FY21E volume estimate by 18% to 2.4mn units, but we broadly retain our FY22E volume forecast at 3.3mn units. Expect recovery from H2FY21, led by a low base, pent-up demand and better rural sentiment.
  • The stock trades at FY22E P/E of 24x, which is expensive in comparison to 14-18x for larger peers. Retain Sell rating with revised TP of Rs296, based on 19x FY22E EPS and value of TVS Credit Services at Rs34/share. In sector EAP, we have an UW stance on the company.

Specialty products segment key to Sun Pharma's growth prospects

The Sun Pharma stock gained 1.38 per cent on Thursday, even as the firm posted a weaker-than-expected performance for the March quarter. This was on account of the specialty products segment, which put up a better-than-expected show. This segment is vital to Sun Pharma’s growth prospects. READ MORE

Covid-19 impact: Auto biggies face low-liquidity risk, says study

Domestic brokerage firm Equirus has analysed companies based on the debt-to-equity ratio and debt-to-Ebitda ratio to assess companies that are at high-risk or ones that are relatively comfortable.
 
According to the brokerage, companies with debt/Ebitda of less than 0.7 are at low risk, those between 0.7 and 1.7 are at moderate risk, while those above 1.7 are at high risk. All large auto manufacturers fall in the low-risk bracket. READ MORE

Rain Industries surges 17% on healthy operational performance in March qtr

Shares of Rain Industries soared 17 per cent to Rs 81.20 on the BSE on Friday after the company’s profit before depreciation, interest, taxes and exceptional item (Ebitda) jumped 52 per cent year on year (YoY) to Rs 558 crore in the March quarter (Q1CY20). Ebitda margin expanded 780 basis points to 19.3 per cent from 11.5 per cent in the year-ago quarter. READ MORE

CEAT up 6% on 14% YoY growth in Q4 EBITDA, partial resumption of operations

It's standalone EBITDA logged a 14.4 per cent YoY rise at Rs 190 crore for Q4FY20, while margin improved to 12.5 per cent, up 280 bps YoY. For the whole FY20, EBITDA came in at Rs 705 crore, up 10.6 per cent YoY.
 
On consolidated basis, the company's EBITDA for FY20 was Rs 740 crore, up 12 per cent compared to previous fiscal, while margin expaned by 340 bps YoY to 12.9 per cent. READ MORE

BUZZING STOCK | Wipro shares gain nearly 4% as Capgemini COO Thierry Delaporte becomes new CEO and MD


MARKET UPDATE:: Broader indices outperform benchmarks


Voda Idea, Bharti Airtel: How to trade telecom stocks in the current market

BSE Telecom Index: The index is rising with “Higher High, Higher low” formation and the upward momentum will continue till 1187 level is held convincingly. Going forward, a close above 1,300 levels may further boost the momentum leading to 1,370 and then 1,400 levels. The overall trend remains positive as the index trades above all the crucial moving averages 50-DMA, 100-DMA and 200-DMA. READ MORE

Corona warriors for markets: Ambani, Adani stocks rise most since lockdown

Eight leading promoter-controlled business houses have emerged as the new Corona warriors for the stock market, with their group market capitalisation rising faster than the 23 per cent gain for the entire universe of companies listed on the BSE. Of these, six have outperformed the broad market substantially.
 
They are the Mukesh Ambani, Bharti, Adani, Sun Pharma, Vedanta, and Shiv Nadar groups, clocking 30 per cent plus gains. READ MORE

SECTOR WATCH:: Pharma stocks advance

COMPANY LATEST(rs) CHG(%)
CIPLA 645.30 2.71
LUPIN 863.30 -2.06
CADILA HEALTH. 349.50 3.39
GLENMARK PHARMA. 354.40 3.22
SUN PHARMA.INDS. 466.45 1.57
» More

TVS Motor shares dip over 3% as March quarter profit plunges 43%

The company reported total sales of 32.63 lakh units in 2019-20 as against 39.14 lakh units in 2018-19. During the fourth quarter, the company’s overall two-wheeler and three-wheeler sales, including exports, stood at 6.33 lakh units as compared with 9.07 lakh units registered in the quarter ended March 2019. READ MORE

Wipro shares gain 1% after Co appoints Thierry Delaporte as new CEO and MD

At 09:50 am, the stock was trading 1.46 per cent higher at Rs 202 apiece on the BSE. In comparison, the benchmark S&P BSE Sensex was trading nearly a per cent lower at 31,901 levels. Wipro had hit a 52-week high of Rs 301.55 on June 14, 2019, whereas its 52-week low level stands at Rs 159.60, hit on March 19 this year. READ MORE

Bharti Infratel hits over 3-month high; zooms 100% from March lows

The stock was trading at its highest level since February 14, 2020. With today’s rally, Bharti Infratel stock has zoomed 100 per cent from its 52-week low level of Rs 121 touched on March 19, 2020. In the past one month, it has soared 46 per cent as against a 2 per cent decline in the S&P BSE Sensex READ MORE

Capgemini COO Thierry Delaporte becomes new Wipro CEO and MD

Wipro Ltd on Friday named Thierry Delaporte as the new chief executive officer and managing director of the IT company, replacing Abidali Neemuchwala.
 
Delaporte was most recently the chief operating officer of French consulting and technology firm Capgemini Group. READ MORE
Thierry Delaporte

Vodafone Idea up 15% on reports of Google eyeing 5% stake in the company

The telecom services provider's stock was trading at its highest level since March 16, 2020. Since April 1, the stock price has more-than-doubled from Rs 3.04, as compared to a 13.4 per cent rise in the S&P BSE Sensex. READ MORE

Metal stocks under pressure amid weak global cues


Nifty Pharma index gains 1% in a weak market


Wipro gains over 1% in early deals


Result Impact | Ceat rallies 4%


Result Impact | TVS Motor slips 2%

>> Net profit of TVS Motor Company declined 44.80 per cent to Rs 73.87 crore in the quarter ended March 2020 as against Rs 133.83 crore in the corresponding quarter of the previous fiscal. Sales declined 20.59 per cent to Rs 3,481.42 crore


RIL trades under mild pressure


Vodafone Idea jumps 10% on report that Google could pick stake


Sectoral trends on NSE at open


Sensex Heatmap at Open


Opening Bell | Nifty slips below 9,400


Opening Bell | Weak global cues weigh on index


Q4FY20 GDP growth expectation: How bad will Covid-19 impact the economy?

While estimates vary across brokerages and economists, the common thread that runs through these estimates is the fact that the economy is headed towards a recessionary phase with some even expecting growth to contract over 5 per cent in financial year 2020-21 (FY21). READ MORE

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


Market at Pre-open


Market at Pre-open


NEWS ALERT :: Wipro appoints Thierry Delaporte as CEO and MD effective July 6, 2020

>> Co also appointed Deepak M Satwalekar as an Additional Director in the capacity of lndependent Director for a term of 5 years with effect from July 1,2020

>> Co also took note of resignation of Mrs. Arundhati Bhattacharya as an lndependent Director of the Company with effect from close of business hours of June 30, 2020

Stocks to watch: RIL, Voda Idea, Wipro, Voltas, YES Bank, Cadila Healthcare

Reliance Industries (RIL): RIL's rights entitlement (RIL RE) surged 14 per cent on Thursday to end at Rs 230 on the National Stock Exchange (NSE). The RIL RE trading window closes on Friday — three working days before the close of the company’s mega rights issue.
 
Vodafone Idea: Global technology giant Google is in talks to buy a 5 per cent stake in Vodafone Idea, owned by Vodafone Plc of the UK and Aditya Birla Group. The move comes about a month after Google’s biggest rival, Facebook, picked up a 9.99 per cent stake in Reliance Industries’ (RIL’s) Jio Platforms for Rs 43,574 crore. READ MORE

Gold price today: Rs 46,995 per 10 gram; silver at Rs 47,905 per kg

The gold prices today rose from Rs 46,290 to Rs 46,995 per 10 gram, while silver price was recorded at Rs 47,905 per kilogram, according to India Bullion and Jewellers Association (IBJA). READ MORE

Outlook & trading strategies for Silver, crude oil by Tradebulls Securities

The Crude oil market has been extraordinarily resilient. The main reason for the rally is strict compliance by OPEC+ in cutting their production and bounce in demand due to the reopening of economies. Yesterday, Russia reported that its oil output had nearly dropped to its target of 8.5 million barrels per day for May and June under its deal with the Organization of the Petroleum Exporting Countries. READ MORE

Nifty view & stock calls by Nilesh Jain of Anand Rathi

BUY HCL TECH | TARGET: Rs 575 | STOP LOSS: Rs 525
 
The stock has provided breakout from its one-month consolidation and made a big bullish candle on the daily chart. It has also breached its 200-DMA which was placed at 540. Based on the above rationale we believe the momentum is likely to continue towards 575 which is the immediate target. READ MORE

Here's a derivative strategy on Tata Motors by HDFC Securities

Bull Spread strategy on Tata Motors
 
Buy TATA MOTOR June 90 Call at Rs 6.3 & simultaneously sell June 100 call at Rs 3.3
 
Lot Size 4300
 
Cost of the strategy Rs 3 (Rs 12900 per strategy)
 
Maximum profit Rs 30100 If Tata Motor closes at or above 100 on June expiry READ MORE

Currency Update | China Central Bank sets Yuan Mid-point at 7.1316/$

>> The currency point was weakest since Feb 27, 2008

(As reported by CNBC TV18)

Bulk deals on NSE as on Thursday

Bulk deals on BSE as on Thursday

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


Oil check


SGX Nifty update

>> At 8:24 am, the index was at 9,419 level, down 42 points or 0.43 per cent.

US-China tension to push Asian shares lower in choppy trade

Source: Reuters


Wall Street ends down in late selloff; Facebook and China weigh

Source: Reuters


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