Share Market updates: Sensex falls 18 points, Nifty at 11,712; TCS, HUL, Tata Steel top losers

Benchmark indices Sensex and Nifty turned negative in the last hour of trading. Sensex closed 18 points lower at 38,963 and Nifty fell 12.50 points to 11,712 level.  On the sectoral front, while IT, Metal, Oil & Gas, Healthcare and FMCG indices ended in the red, sectors like Realty, Auto, Bank and Telecom closed in the green.

NIFTY50 ETF value. https://t.co/UW8jqUcAx7

- NSE_NIFTY (@NSE_NIFTY) May 3, 2019

Here's a look at live updates for the Indian share market today:

3:30 pm: TCS (3.70%) , HUL (2.20%)  and Tata Steel (1.40%) are top Sensex losers.

3:40 pm: Bharti Airtel (3.11%) , ICICI Bank (2.13%)  and NTPC (1.99%) are the top Sensex gainers

3:39 pm: Sensex closes 18 points lower at 38,963 and Nifty falls 12.50 points to 11,712 level.

3: 30 pm: Intellect Design, Dilip Buildcon, Gujrat State Petronet, L&T Technology Services were the top losers on BSE, whereas TCS, HCL Technology, Britannia and Tech Mahindra were among the top losers on NSE.

3: 20 pm: The Rs 25,000-crore rights issue of Bharti Airtel has opened for subscription today. The rights issue will remain open till May 17, and the last date for requesting for split application form is May 10, 2019. The entitlement ratio is 19 shares for every 67 shares held.

Bharti Airtel plans to raise up to Rs 25,000 crore by issuing fully paid up shares at a share price of Rs 220 per share, and an additional Rs 7,000 crore via foreign currency perpetual bond issue. The company had fixed April 24 as the record date for the issue. 

Shares of Bharti Airtel rose more than 2.6% to hit the day's high at Rs 333.15 on BSE. The stock is currently trading at Rs 331.65, up 7 points on BSE.

2: 55 pm: Shares of Godrej Consumer plunged 3.8% to day's low after disappointing volume growth of 1%.

Godrej Consumer Products reported an 207 per cent increase in its Q4 net profit helped by higher tax credit during the quarter. GPCL posted standalone pofit before tax of Rs 386 crore in the quarter on revenues of Rs 1325 25 crore, compared to Rs 1329 crore, a year ago period.

Total Standalone expenses of the firm stood at Rs 992 cr against Rs 1008 cr in the corresponding quarter in a year ago period. Total income was down to Rs 1378 cr against Rs 1391 cr in the year ago period.

Revenue from operations has also decreased to Rs 2,452 cr against Rs 2531 in the corresponding quarter in a year ago period.

Godrej Consumer Q4 net profit Rs9.5bn (up 53.9% YoY), deferred tax gained Rs5.33bn - expectation Rs3.98bn, volume growth 1% - expectation 2%, other income Rs291.4mn, EBITDA Rs5.58bn (down 23.2% YoY) and Income Rs24.50bn (down 3.2% YoY) - expectation Rs26.4bn. #MOMarketUpdates

- Motilal Oswal Group (@MotilalOswalLtd) May 3, 2019

2: 30 pm: Tata Motors has declared monthly sales numbers for the April month.As per the press release by the firm, its domestic sales continued to be under pressure due to low market sentiments

Tata Motors Commercial and Passenger Vehicles Business sales in the domestic market in April 2019 at 42,577 units witnessed a drop of 20%, as against 53,511 units sold in April 2018, as weak consumer sentiments continued.

Tata Motors Commercial Vehicles (CV) Business sales in the domestic market in April 2019, at 29,883 units registered a drop of 18% compared to 36,276 units sold last April. Due to continued low market sentiments, the Tata Motors Passenger Vehicles domestic sales in April 2019 at 12,694 units, witnessed a drop of 26%, as compared with 17,235 units sold in April 2018. The company's sales from exports (CV and PV) in April 2019 was at 1,402 units, lower by 53% over last April.

The shares of Tata Motors are trading at Rs 1.70 points or 0.82% up at Rs 209 on BSE.

Tata Motors Domestic Sales - April 2019

Know more: https://t.co/UA7yPIH3pu pic.twitter.com/2NViwbv6Wu

- Tata Motors (@TataMotors) May 2, 2019

2: 20 pm: Nifty Vix is trading up 3.83 % or 0.87 points up at 23.86 levels, suggesting volatile swings could continue in the market ahead of Election polls and its outcome. May in an election year has proved to be highly volatile.

2: 00 pm: Embassy office parks REIT has approved issuance of Rs 3,000 crore on private placement basis after a board meeting today.

As per the compnay's BSE filing, "the Debenture Committee of the Board of Directors of Embassy Office Parks Management Services Private Limited, Investment Manager of Embassy Office Parks REIT at its meeting held on 3rd May 2019 has approved the allotment of 30,000 Secured NonConvertible Debentures of Rs.10,00,000/- (Rupees Ten Lakhs only) each aggregating to Rs.3,000,00,00,000/- (Rupees Three Thousand Crores only) on a private placement basis under Tranche A as per the terms and conditions as mentioned in the Information Memorandum for the said issue."

The stock has touched an intraday high of Rs 324 and currently trades at Rs 322, up 0.27%.

1: 40 pm: Shares of DLF surged 3.69% after the realty major transferred a shopping mall in Noida to its subsidiary firm.

As per the company's BSE filing, "the company has transferred its property, Mall of India, Noida, a retail mall located in Sector 18, Noida, with a leasable area of 2 msf (approx.) to one of its subsidiaries, Paliwal Real Estate Limited, in the ordinary course of business at an arms-length consideration of Rs 2,950 cr."

The stock is currently trading at Rs 77.50, up 3.23% or 5.55 points on BSE.

DLF gains 2%- Realty major DLF said it has transferred shopping mall in Noida, Uttar Pradesh, to its subsidiary firm for Rs 2,950 crore, as part of efforts to settle

dues of its joint venture firm with GIC.

#MOMarketUpdates

- Motilal Oswal Group (@MotilalOswalLtd) May 3, 2019

1: 15  pm: Shares of Godrej Properties rose 5 per cent intraday on Friday after the Mumbai-based real estate developer announced purchase of R.K. Studios' land in Chembur, Mumbai.

The project that is spread across 2.2 acre, offers approximately 33,000 square meters (approximately 0.35 million square feet) of saleable area comprising modern residential apartments of various configurations as well as a luxury retail experience.

Read full report here: Godrej Properties stock rises 5% as firm purchases RK Studios' land

12: 55 pm: Shares of IRCON International Ltd rose 3.64 % intraday as the firm bagged an order worth USD 91.27 million in Sri Lanka.

The company has been awarded an International Railway Contract equivalent to Rs 635 cr from Sri Lanka Railways under the Ministry of Transport & Civil Aviation, Govt. of Sri Lanka. The contract is for upgradation of the Northern Railway line from Maho-Omanthai in Sri Lanka. Under the contract, IRCON will pgrade single line broad gauge track from Maho-Omantha of around 128 km length including associated infrastructure works. The contract is financed through Exim Bank of India as per Indian lines of Credit.

12: 30 pm: Top gainers of the afternoon trading session are Tata Motors, Kotak Bank, Bombay Dyeing, Reliance Power, NTPC and Bharti Airtel.

12: 10 pm : Shares of Bombay Dyeing & Manufacturing rose 12 per cent in the early trading hours on Friday, after the company reported strong Q4 earnings. The company reported a standalone net profit of Rs 1,253.33 cr in the Q4FY 2019 led by its real estate activities, against the loss of Rs 159.38 cr incurred in Q3FY19.

Read full report here: Bombay Dyeing shares rise 12% on strong Q4 earnings

11: 54 am: Reliance Industries share price hits fresh 52 week high of 1417 on BSE.

11: 39 am: The RBI has approved extension of tenure of YES Bank's part-time chairman Brahm Dutt till January 10, 2022. The tenure of Dutt, whose appointment was approved in January this year by the RBI, was till July 4, 2020.

11: 25 am: Brent crude oil hits one-month low of $70.30 per barrel.

11: 20 am: Kotak Mahindra Bank hits fresh 52-week high of 1,435.5 on BSE.  

11: 10 am : YES Bank (Rs 37.46 crore), Tata Motors (Rs 25.39 crore), Maruti (Rs 20.76 crore) and Reliance Industries (Rs 17.66 crore) are the shares logging maximum turnover on BSE.

10: 50 am: Reliance Power gains 14.15% to 6.71 on BSE today.

10: 40 am: DLF said it has transferred shopping mall in Noida, Uttar Pradesh, to its subsidiary firm for Rs 2,950 crore, as part of efforts to settle dues of its joint venture firm with GIC. DLF has to pay Rs 8,700 crore to the DLF Cyber City Developers Ltd (DCCDL), which is a joint venture firm of DLF and Singapore's sovereign wealth fund GIC. It wants to settle these dues by September this year through transfer of rental assets and land parcels.

10: 34 AM: The rupee appreciated by 13 paise to 69.24 against the US dollar in opening trade Friday, driven by easing crude oil prices and higher opening in domestic equities. The rupee opened strong at 69.38 at the interbank forex market, then gained further ground and touched 69.24, displaying gains of 13 paise over its last close. 

10:28 am: Jet Airways continues slide, trading 3.37% lower at 130.30 on BSE.

10:14 am: Of 30 Sensex stocks, 23 were trading in the green.

10:10 am: Tata Motors, Bharti Airtel and Coal India are top  Sensex gainers.

10: 05 am: While 24 securities hit their fresh 52-week highs, 58 fell to their 52-week lows on BSE.

10:00 am: Tata Motors (2.29%), Bharti Infratel (2.23%) and Bharti Airtel (2.11%) are the top Nifty gainers.

9: 55 am: Tech Mahindra (2.18%), TCS (2.05%), HCL Tech (1.91%) are the top Nifty losers.

9: 50 am: On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 597.54 crore on Thursday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 791.69 crore, provisional data available with BSE showed.

9: 40 am: YES Bank (1.93%), Bharti Airtel (1.02%) and ICICI Bank (1.01%) were the top Sensex gainers.

9: 35 am: Top Sensex losers were HCL Tech (1.91%), TCS (1.60%) and Infosys (1.34%).

9: 30 am: On Thursday, Sensex closed 50 points lower at 38,981 and Nifty lost 23 points to 11,724.

9: 27 am: Meanwhile, mid cap and small cap indices were trading 47.92 points and 40.56 points higher in early trade.

9: 25 am: Market breadth was positive with 783 stocks trading higher compared to 476 falling on the BSE.

9: 20 am: IT stocks led the losses with their BSE index losing 248 points in early trade.

9: 15 am: Sensex rose 77 points to 39,059 in early trade, Nifty climbed 25 points to 11,749.