Sensex Today: Sensex ends 99 points higher, Nifty at 10,997 mark; HDFC rises 2% post result

Pre-Open Session Friday

In the pre open session Friday, Sensex trades 136 points lower at 36,879 level and Nifty50 is trading at 10,980 mark, with a loss of 138 points.  

Bharti Airtel posts net loss of Rs 2,866 crore in Q1

Bharti Airtel Q1 Results 2019: The country's third largest telecom operator slipped into red, incurring net losses of Rs 2,866 crore for the first quarter of 2019-20, impacted by a continuing tariff war with Mukesh Ambani's Reliance Jio.

"The company had reported consolidated net profit of Rs 97.30 crore in the corresponding period of fiscal 2018-19 and Rs 107.2 crore in the previous quarter," Bharti Airtel said in a filing to the Bombay Stock Exchange.

Consolidated revenue from operations rose by 5 per cent to Rs 20,737.90 crore in Q1FY20 as against Rs 19,799.20 crore in Q1FY19.

Talwalkar group defaults on Rs 3.44 crore interest payment

Talwalkars Healthclubs has made a default in the payment of interest on loan from banks for Rs 3.44 crore interest payment after which financial institutions CARE Ratings and ICRA has revised the ratings on long term facilities and NCD issue. 

Earnings Due Today

SBI, ITC, HDFC, Power Grid Corporation of India, GATI, BSE Limited, Alphageo (India), Xpro India, Gujarat State Petronet, Andhra Bank, VLS Finance, Exide Industries, Birla Corporation, Ujjivan Financial Services, Equitas Holdings, Filatex India, Aditya Birla Capital, Vinyl Chemicals (India), D-Link (India), IRB Infrastructure Developers, Astral Poly Technik, Sterling Tools, Bata India, Capri Global Capital, Insecticides (India), National Fertilizers, Camlin Fine Sciences, Birla Corporation, Somany Ceramics, Godrej Agrovet, eClerx Services, Lumax Industries, Dhampur Sugar Mills, Parag Milk Foods, Elgi Equipments, Tata Communications, Dhampur Sugar Mills, Surya Roshni, INOX Leisure, V-Mart Retail, Kaya, McDowell Holdings, MM Forgings, BEML, Deepak Nitrite, Sical Logistics, Firstsource Solutions, Union Bank of India, Raj Oil Mills, Laurus Labs, TCPL Packaging, HUDCO, Summit Securities, Rico Auto Industries Limited are among the listed companies due to post their quarterly results on August 2.

Global Market Update

Asian markets declined after Trump’s new tariff threat. Nikkei and Hong Kong Index declined 2% each. Hong Kong Index fell over 2% on news that the China may impose Martial Law in Hong Kong.
On the sigapore Exchange, SGX Nifty was trading down 69 pts.

On the Wall Street, US Futures is down 65 pts or 0.24%. US stocks fell after Trump put concerns about the U.S.-China trade war back in the spotlight, tweeting that he would impose an additional 10% tariff on $300bn in Chinese imports. 


 

Oil prices bounces back

Oil prices bounced back a tad after suffering sharp falls the previous day.

Brent crude rose 1.2% to $61.24 per barrel, after having fallen 7.0% on Thursday, its biggest daily percentage drop since February 2016.

Earlier, Brent Crude fell to a 4-month low at $61/bbl on concerns of trade war. 

 

Opening Bell

In the opening session Friday, Sensex opened over 100 points below at 36,920.11 level and Nifty50 at 10,930.30 mark, with a loss of 50 points.

 

FII/ DII

The net investment of equity and debt reported by Foreign portfolio investment (FPIs) remained bearish with net selling Rs 1,056.55 crore from Indian equities while Domestic institutional investors (DIIs) bought Rs 561.28 crore Monday.

Rupee opens weak

The rupee opened 26 paise lower compared to its previous close amid continued foreign fund outflows. The Indian currency opened at 69.26, then fell to 69.32 compared to the previous close of 69.06 against the US dollar.

Traders said strengthening of the greenback vis-a-vis other currencies overseas, a weak opening in domestic equities also weighed on the local unit. The dollar index inched up 0.05 per cent to 98.41.

Coffee Day Enterprises share locked in lower circuit

Coffee Day Enterprises share price was locked in lower circuit for the fourth straight day since the death of the company's MD and Chairman VG Siddhartha. His body was recovered from Netravathi river on Wednesday morning. He was missing since Monday evening.

Cafe Coffee Day share plunged lost another 10% to hit all-time low of Rs 99.90 on BSE, against yesterday's closing value of Rs 110.95.

There are only sellers in the stock with pending sell orders worth 22,42,449 shares on BSE and 77,22,894 shares on NSE and no buyers standing. Volume-wise, 77,840 shares (including BSE and NSE) trade on the bourses. The share has lost 92.65 points or 48.08% since Monday's closing.

Mindtree appoints new CEO

Mindtree Ltd has announced in a regulatory sttement about the appointment of Debashis Chatterjee as CEO and Managing Director. The filing added that the company has appointed SN Subrahmayan as Non-executive Vice-chairman effective from August 2.

 

RBI imposes penalty of Rs 2 cr on Allahabad Bank

Allahabad Bank has informed the exchange on RBI imposing penalty of Rs 2 crore on Allahabad Bank for non compliance of directions/ circulars issued by RBI on "Code of Conduct for Opening and Operating Current Accounts", "Discounting/Rediscounting  of  Bills  by Banks",  "Reserve  Bank  of India (Frauds classification and reporting by commercial Banks and select Fis)  directions 2016" in the matter pertaining to Rotomac Group Companies.

The regulatory filing added that " The Bank has taken necessary measures for ensuring compliance of said RBI directions. Considering the size of the  Bank, the amount of penalty will not have material impact."

Power Grid falls 2% on result day

Power Grid's Q1 revenue of Rs 8,804 cr sees a YoY 8.3% rise Vs Rs 8,131 cr recorded in the corresponding month last year.

Power Grid's Q1 profit rises 6.15 to Rs 2,428 cr compared to Rs 2,242 cr booked during the last fiscal.

The stock price of Power Grid Crop. has fallen 2.55% to touch an intraday low of Rs 208.60 on the BSE, although the stock trades 2.27% away from 52 week high of Rs 216.20.

Market Update: Indices turn green

Sensex Today: Domestic equity market indices Sensex and Nifty pared early losses on Friday, to trade on a bullish note by the afternoon session, backed by buying interest generated from Auto and PSU Bank stocks. Earlier the market was bearish amidst weak global stocks.

 

HDFC rises 25 post result

HDFC Q1 net profit & revenue rise on a yearly basis. HDFC Q1 loan book rises 11.2% on a yearly basis.

Profit has risen 46% Rs 3,204 cr as compared to Rs 2,190 cr during the last year. Revenue of the housing finance major has risen more than 30.6% to Rs 12,990 cr from Rs 9,947 cr booked during the previous fiscal.

HDFC stock has risen 2.23 % intraday to Rs 2,134 post the result. Earlier the stock had made a fall of 2.23% to Rs 2,039.65 on BSE.

SBI posts results, stock marginally up

SBI on Friday posted a standalone net profit of Rs 2,312.02 crore for the first quarter of current fiscal, mainly driven by higher income and reduction in bad loans.The bank had reported a loss of Rs 4,875.85 crore in the April-June quarter of 2018-19.

SBI's standalone total income increased to Rs 70,653.23 crore in the first quarter of 2019-20 as against Rs 65,492.67 crore in the same period a year ago, as per the financial results posted by the bank on stock exchanges.

Its gross non-performing assets (NPA) compared to assets declined to 7.53 per cent at June-end, over 10.69 per cent at June-end last year. Similarly, there was decline in net NPAs to 3.07 per cent in June 2019, compared to 5.29 per cent a year ago.

Shares of the public sector bank was trading at Rs 319.45 apiece on the BSE, up 0.71 per cent at around 1400 hours.
(PTI)

Indiabulls Housing Finance to buy back bonds

Indiabulls Housing Finance said on Friday it will buy back bonds worth up to USD 50 million (around Rs 348 crore), which is a part of its USD 1.5 billion bond programme.

"The company will be doing a buyback of up to USD 50 million of the USD 350 million 6.375 per cent notes issued by the company," it said in a regulatory filing.

The buyback is part of the company's USD 1.5 billion (around Rs 10,398 crore) secured euro medium-term note programme, it said.
(PTI)
 

Closing Bell: Market closes higher

Sensex Today: Domestic equity market indices Sensex and Nifty pared early losses on Friday and closed on a bullish note by the afternoon session, backed by buying interest generated from Auto and PSU Bank stocks. S&P Sensex ended the day's trade at 37,118, with a rise of 99 points and Nifty 50 has closed 55 points up at 10,997 mark.

Last Closing

Domestic equity market indices Sensex and Nifty closed broadly negative on Thursday, registering a fall of over 1.23% each, with major selling interest recorded in all the sectors, amidst 3 % fall registered in Media and Metal stocks. While Sensex lost 787 points intra day to 36,694, Nifty fell over 200 points to 10,915. Later, Sensex closed 462 points lower at 37,018 and Nifty lost 138 points to 10,980.