5 min read . Updated: October 26, 2020 11:22 am IST
- Benchmark Sensex equities fell more than 150 points in early trading on Monday, following losses in major indices Reliance Industries, ICICI Bank and Tata Steel amid negative signals from global markets.
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October 26, 2020 11:22:07 AM IST
JK Tire down 0.2%
Shares in JK Tires and Industries Ltd took a breather on Monday, after a sharp rally last week. Following its September quarter earnings, the stock was up more than 20% in recent trading sessions.
There were two key aspects in the results of the company. Strong expansion of operating margins and management comments focused on debt reduction. (Full report)
October 26, 2020 11:15:44 AM IST
DHFL down 5%
The indebted DHFL’s creditors committee is scheduled to meet today for four tenders, including those from Adani Group and Piramal Enterprises, received as part of the resolution process for the embattled company.
October 26, 2020 10:55:38 AM IST
Nifty Auto, Nifty Metal’s Top Industry Laggards
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October 26, 2020 10:44:40 IST
The rupee falls 16 paise to 73.77 against the US dollar in early trading
The rupee depreciated 16 paise to 73.77 against the US dollar at the trade open on Monday, as quiet domestic stocks and a strong US currency weighed on investor sentiment.
The local unit opened at 73.77 in the interbank currency market, 16 paise less than in its last close.
On Friday, the rupee settled at 73.61 against the dollar.
October 26, 2020 10:33:46 AM IST
ICICI Lombard rises 0.4%
ICICI Lombard General Insurance on Friday reported 35 percent growth in net profit for the September quarter in ₹Rs 415.74 million, despite losses due to natural calamities and growing claims from the COVID-19 pandemic.
Total revenue increased to ₹2,883.40 crore during the quarter from ₹2,739.67 million rupees a year ago.
October 26, 2020 10:26:40 AM IST
JSW Steel falls 3.4%
The company reported a decrease of more than 37% in consolidated net income in ₹Rs 1,595 crore for the quarter ended September 30. JSW Steel had posted ₹Profit of Rs 2,536 crore for the same quarter of the previous year.
October 26, 2020 10:18:27 AM IST
Vedanta rose 0.33%
Vedanta Ltd said on Saturday that its board approved the first dividend on account of ₹9.50 per share of capital for the current fiscal year amounting to ₹3500 crore. The announcement came days after the mining conglomerate’s failed delisting offer for the metal.
October 26, 2020 10:12:01 AM IST
Nestlé India gains 2.5%
Nestlé India Ltd, a major consumer goods company, reported a marginal decrease in its net profit of 1.37% to ₹Rs 587.09 crore in the third quarter ended September 30, 2020. The company, which follows the financial year from January to December, had posted a profit of ₹595.27 million rupees in the July-September quarter of a year ago.
October 26, 2020 10:03:16 AM IST
RIL falls 1.8%
Amazon.com Inc. has obtained interim relief in a Singaporean arbitration court, stalling its partner Future Group’s plan to sell its retail and wholesale assets to a unit of rival Reliance Industries Ltd for ₹24,713 crore. The e-commerce giant claimed that Future Group had violated an investment contract when it agreed to sell its retail assets to Reliance Retail Ventures Ltd (RRVL).
October 26, 2020 9:54:34 AM IST
Market outlook
“The range for next week is between 11750 and 12050. The last two trading sessions have witnessed listless volumes due to which we have been trading lackluster all last week. Since this is the expiration week, we should expect additional volumes to flow so that a direction in the Nifty can be observed, “said Manish Hathiramani, technical analyst and property index trader at Deen Dayal Investments.
October 26, 2020 9:45:16 AM IST
TechM rises 0.5%
Tech Mahindra on Friday reported a 5.27% decrease in net profit for the September quarter in ₹1,064.6 million rupees, even as profit margins increased considerably.
Revenues for the Mahindra Group company grew 3.32% over last year and 2.32% over the June quarter prior to ₹9,371 crore. The operating margin sequentially improved by more than 4 percentage points to 14.2%.
October 26, 2020 9:38:35 AM IST
RIL, Asian Paints, Bajaj Finance, ICICI Bank top Sensex drags
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October 26, 2020 9:32:08 AM IST
IndusInd Bank rises 3.4%
IndusInd Bank has denied having exploratory talks with Kotak Mahindra Bank for a merger. “IndusInd Bank denies the rumor in certain media reports about a proposed merger, and considers it malicious, false and baseless,” he said in a BSE filing.
October 26, 2020 9:20:26 AM IST
Market opening
Benchmark Indian stock indices opened a flat note on Monday amid weakness in their Asian peers. Sensex opened at 40,649.76, down 35.74 points or 0.09%, while Nifty advanced 7.05 points or 0.06% to 11,937.40. IndusInd Bank, with an increase of more than 3%, was the main winner of Sensex, followed by Nestlé, NTPC, L&T and HDFC. TechM, RIL, M&M, Asian Paints and SBI were among the laggards. Of 30 Sensex stocks, 14 opened in the red.
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October 26, 2020 9:03:56 AM IST
Market pre-opening
Indian stocks were higher in the session before opening on Monday. At 9:01 a.m. M., Sensex advanced 271 points or 0.67% to 40,829.49, while Nifty was at 11,986.35, 56 points or 0.47% more.
October 26, 2020 8:49:53 AM IST
Actions to take into account
RIL, IndusInd Bank, Yes Bank, Nestlé, Vedanta, JSW Steel and DHFL are among the top ten stocks that may be in the news today. (Full report)
October 26, 2020 8:48:39 AM IST
Market at close on Friday
The benchmark Sensex equity index closed 127 points higher on Friday, mainly driven by gains in stocks in the auto, metals and energy sectors amid positive signals from global markets.
After rising 252.63 points during the day, the 30-share Sensex closed 127.01 points or 0.31% higher at 40,685.50, and the broader NSE Nifty rose 33.90 points or 0.28% to close at 11,930.35.
October 26, 2020 8:47:02 AM IST
Silenced Asian Actions
Asian stocks got off to a moderate start on Monday as mounting coronavirus cases in Europe and the United States threatened the global landscape as China’s leaders met to reflect on the future of the economic giant.
SGX Nifty of Singapore advanced 0.15%.
Japan’s Nikkei 225 had little change.
China’s Shanghai Composite fell 0.58%, while Hong Kong’s Hang Seng advanced 0.54%.
Australia’s ASX 200 was up 0.11%.
South Korea’s Kospi fell 0.12%.
October 26, 2020 8:47:02 AM IST
Wall Street ends with modest gains
The S&P 500 and the Nasdaq closed modestly higher on Friday in choppy trading, and investors closely followed negotiations on a US stimulus package that would ease the economic shock caused by the coronavirus pandemic.
The Dow Jones Industrial Average closed 28.09 points lower, or 0.1%, at 28,335.57, the S&P 500 gained 11.9 points, or 0.34%, at 3,465.39 and the Nasdaq Composite added 42.28 points, or 0.37%, at 11,548.28.
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