• NIFTY  
    12,080.85
    (-0.37%)
  • SENSEX  
    41,170.12
    ( -0.37%)
  • USDINR  
    71.68
    ( 0.33%)
  • GOLD  
    42,691.00
    ( 1.55%)
  • End-Session - Detailed News
Negative global signals drag Nifty below 12,150
27-Jan-20   17:29 Hrs IST

Key domestic benchmarks snapped two-day rising streak amid negative global cues. Global stock markets were under pressure as investors appeared to be wary about the fast-spreading coronavirus, which started in the China's Wuhan city. Investors also turned cautious ahead of the Union Budget on Saturday, 1 February 2020. Shares of banks and metal companies bore the major brunt of selling.

The barometer BSE S&P Sensex slumped 458.07 points or 1.10% to 41,155.12. The Nifty 50 index lost 129.25 points or 1.06% to 12,119.

The broader market was better placed. The BSE Mid-Cap index fell 0.40% while the BSE Small-Cap index rose 0.03%.

The market breadth was weak. On the BSE, 1036 shares rose and 1524 shares fell. A total of 155 shares were unchanged.

Economy:

The divestment of Air India restarted on Monday (27 January) with the government seeking to sell 100% of its equity share capital in the state-owned airline, including Air India's shareholding interest of 100% in AI Express and 50% in Air India SATS Airport Services. The sale will be implemented through the open bidding route, with 17 March being set as the deadline for interested parties to submit their bids. Those interested in bidding for Air India must have a net worth of Rs 3,500 crore. Management control of the airline would also be transferred to the successful bidder. Bidders must agree to assume the debt apart from other liabilities, and that debt worth Rs 23,286.5 crore would remain with Air India and Air India Express at the time of the disinvestment. The remaining debt would be allocated to Air India Assets Holding.

Numbers to Watch:

The yield on 10-year benchmark federal paper fell to 6.551% at 16:45 IST compared with 6.578% at close in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 71.43, compared with its close of 71.33 during the previous trading session.

In the commodities market, Brent crude for April 2020 settlement tumbled $1.77 to $58.12 a barrel. The contract fell $1.35 or 2.18% to settle at $60.69 a barrel during the previous trading session.

Foreign Markets:

European markets traded lower while most Asian markets were shut for the Lunar New Year holidays. Japan's Nikkei 225 dropped over 2% after the Chinese authorities warned of Coronavirus spreading further with contagion like threat internally in China.

In Europe, German business confidence unexpectedly dropped in January. The Ifo Institute, a Munich-based think-tank, said its measure showing sentiment among the 9,000 German companies it surveys every month had declined to 95.9 in January, from 96.3 in December.

US stocks skid on Friday on concern the spread of China's coronavirus may disrupt travel & trade and slow global economic growth.

Buzzing Indian Segments:

Metal stocks came under selling pressure amid a decline in industrial metal prices. The Nifty Metal index tumbled 3.09% to 2,709.75.

JSPL (down 5.4%), Vedanta (down 4.46%), SAIL (down 4.41%), Tata Steel (down 4.31%), Hindustan Copper (down 3.64%), Hindalco Industries (down 3.51%), NMDC (down 3.42%), Hindustan Zinc (down 3.03%) and NALCO (down 1.94%) declined.

JSW Steel slumped 3.35%. The company reported an 87.01% fall in consolidated net profit to Rs 211 crore on 10.68% fall in total income to Rs 18,182.00 crore in Q3 December 2019 over Q3 December 2018. Crude steel production was impacted due to extended monsoon which impacted operations at its both Dolvi and Vijaynagar plants.

Banks shares were under pressure. The Nifty Bank index fell 1.29% to 30,837.40.

Among private banks, IndusInd Bank (down 3.37%), HDFC Bank (down 2.51%), Kotak Mahindra Bank (down 1.59%)and City Union Bank (down 0.84%) declined.

ICICI Bank rose 0.45%. The bank reported 158.36% rise in net profit to Rs 4146.46 crore on 17.23% rise in total income to Rs 23,638.26 crore in Q3 December 2019 over Q3 December 2018. Net interest margin stood at 3.77%. Net non-performing asset (NPA) ratio decreased from 2.58% at 31 December 2018 to 1.49% at 31 December 2019.

DCB Bank rose 0.05%. The bank reported a 12.3% rise in net profit to Rs 96.70 crore on a 13.7% increase in total income to Rs 990.89 crore in Q3 December 2019 over Q3 December 2018. The bank's gross non-performing assets (NPAs) stood at Rs 552.03 crore as on 31 December 2019 as against Rs 523.24 crore as on 30 September 2019 and Rs 445.12 crore as on 31 December 2018. The ratio of gross NPAs to gross advances stood at 2.15% as on 31 December 2019 as against 2.09% as on 30 September 2019 and 1.92% as on 31 December 2018. The ratio of net NPAs to net advances stood at 1.03% as on 31 December 2019 as against 0.96% as on 30 September 2019 and 0.71% as on 31 December 2018.

Among state-run banks, Canara Bank (down 3.64%), Syndicate Bank (down 2.89%) and State Bank of India (down 2.42%) declined.

Bank of Baroda fell 3.4% after reporting net loss of Rs 1406.95 crore in Q3 December 2019 as against net profit of Rs 471.25 crore in Q3 December 2018. Total income rose 49.58% to Rs 21,809.08 crore in Q3 December 2019 as against Rs 14,562.85 crore reported in Q3 December 2018. Net Interest Income (NII) rose 9% and stood at Rs 7,128 crore. Net interest margin improved and stood at 2.8% in Q3FY20 as against 2.62% reported in Q3FY19. Provisions and contingencies (excluding tax provisions) soared 156.1% and stood at Rs 7155.42 crore in Q3 December 2019 as against Rs 2794.20 crore in Q3 December 2018.

Q3 Results:

Housing finance major HDFC fell 2.25%. Standalone net profit rose 296.09% to Rs 8,372.49 crore on 91.75% increase in net sales to Rs 20,291.45 crore in Q3 December 2019 over Q3 December 2018. Profit before tax (PBT) rose 218.70% to Rs 9,142.99 crore year-on-year (YoY). Tax expense fell 17.49% to Rs 652.64 crore during the period under review.

GRUH Finance (GRUH), an associate of HDFC, merged into and with Bandhan Bank witheffect from 17 October 2019. HDFC was allotted 9.90% equity of Bandhan Bank. On derecognition of investment in GRUH, HDFC has recognised a fair value gain of Rs 9,019.81 crore. The Q3 result was announced after market hours on Monday, 27 January 2020.

InterGlobe Aviation fell 0.54%. Consolidated net profit surged 167.86% to Rs 495.97 crore on a 25.45% jump in net sales to Rs 9,931.68 crore in Q3 December 2019 over Q3 December 2018.

Profit before tax (PBT) soared 205.16% to Rs 556.63 crore in Q3 December 2019 over Rs 182.40 crore in Q3 December 2018. Tax expense for Q3 December 2019 stood at Rs 60.56 crore as compared to a tax credit of Rs 2.76 crore received in Q3 December 2018. The Q3 result was announced after market hours on Monday, 27 January 2020.

Dr Reddy's Laboratories jumped 5.31% after the company posted Rs 569.70 crore loss in Q3 December 2019 on impairment of generic Nuvaring. Consolidated revenues rose 14% to 4383.80 crore in Q3 December 2019 over Q3 December 2018. EBITDA rose 24% to Rs 1074 crore year-on-year (YoY). EBITDA margin stood at 24.5% in Q3 December 2019, higher than 22.5% in Q3 December 2018. The company reported pre-tax loss of Rs 527.40 crore in Q3 December 2019 compared with pre-tax profit of Rs 580.50 crore in Q3 December 2018, primarily on account of impairment of intangible assets. Excluding impairment, profit before tax was at Rs 790 crore. In total, the firm took an impairment of Rs 1320 crore on the intangible assets for this quarter. In Q2 September 2019, the company had an impairment charge on Rs 360 crore.

Prestige Estates Projects rose 2.05% after consolidated net profit rose 178.49% to Rs 161.80 crore on 154.48% surge in net sales to Rs 2680.90 crore in Q3 December 2019 over Q3 December 2018. Consolidated profit before tax (PBT) surged 185.09% to Rs 311.6 crore year-on-year (YoY). Tax expense jumped 71.53% to Rs 70.50 crore during the period under review.

Wockhardt soared 18.01% after the company announced a turnaround in Q3 2019 numbers. On consolidated basis, the pharmaceutical company reported a net profit of Rs 19.21 crore in Q3 December 2019 as against a net loss of Rs 76.86 crore in Q3 December 2018. Total income declined 15.42% YoY to Rs 886.95 crore in Q3 December 2019. During the nine-months ended 31 December 2019, the company repaid Rs 768 crore (previous year Rs 750 crore) towards various long term debt obligations as per schedule. Debt repayment during the quarter was Rs 359 crore (previous year Rs 347 crore). Gross Debt- Equity ratio as on 31 December 2019 stood at 0.95.

Wendt (India) tumbled 5.75% after consolidated net profit declined 59.56% to Rs 2.20 crore on 22.61% decline in net sales to Rs 33.16 crore in Q3 December 2019 over Q3 December 2018. Consolidated profit before tax (PBT) fell 58.44% to Rs 2.98 crore year-on-year (YoY). Tax expense fell 47.73% to Rs 0.92 crore during the period under review. The result was announced after market hours on Friday, 24 January 2020. The result was affected due to sluggish demand from almost all major user industries like automobile, steel, engineering, cutting tools and refractories on the domestic front and also lower offtake from global customers due to continued industrial slow down.

Ion Exchange (India) advanced 5.95%. The firm reported 215.75% jump in consolidated net profit to Rs 26.46 crore on 54.02% rise in total income to Rs 406.10 crore in Q3 December 2019 over Q3 December 2018.

Stocks in Spotlight:

Biocon declined 2.26% after the US drug regulator issued a Form 483 with five observations for the company's API manufacturing facility.

Vodafone Idea shed 3.97%. CRISIL downgraded the company's rating on non-convertible debentures of Rs 3,500 crore from CRISIL BBB- to CRISIL BB (rating watch with negative implications) on account of expectation of a significant deterioration in the company's financial risk profile on account of the potential payout against the adjusted gross revenue (AGR) related liability, post the dismissal of the review petition by the Supreme Court.

India Ratings also downgraded Vodafone Ideas Rs 3500-crore debt from BBB to BBB minus on account of crystallisation of adjusted gross revenue (AGR) related liabilities, post the dismissal of the review petition by the Supreme Court.

Siemens fell 4.07%. The company entered into definitive agreements for the acquisition of 99.22% (approximately) of the paid-up equity share capital of C&S Electric from its promoters for Rs 2120 crore, subject to receipt of requisite regulatory approvals and fulfillment of condition precedents as agreed between the parties.

Tilaknagar Industries hit an upper circuit limit of 5% at Rs 16.97 after the company said it settled the dues of IDBI Bank under IDBI-Rinn Mukti Yojna 2019-20 Scheme.

The liquor maker announced during trading hours on Monday (27 January) that as per the one time settlement (OTS), it paid Rs 16.04 crore towards full and final settlement of the total dues of Rs 44.13 crore payable to the bank as per the company's records. Prior to this, the company's account was classified as non-performing asset (NPA) by IDBI Bank.

Powered by Capital Market - Live News

Useful Links

Back to Top
Attention Investors
Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day.............issued in the interest of investors. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account                                    "KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
Investors should be cautious of unsolicited emails and SMS advising to buy, sell or hold securities and trade only on the basis of informed decision. Investors are advised to invest after conducting appropriate analysis of respective companies and not to blindly follow unfounded rumours, tips etc. Further, you are also requested to share your knowledge or evidence of systemic wrongdoing, potential frauds or unethical behaviour through the anonymous portal facility provided on BSE & NSE website.BSE   http://www.bseindia.com/investors/tip-off-registration.aspx?expandable  NSE   https://www.nseindia.com/int_invest/dynacontent/any_portal.htm
All payments to Stock Broker shall be received from the market intermediaries/participants strictly by account payee crossed cheques / demand drafts or by way of direct credit into the bank account through electronic fund transfer, or any other mode permitted by the Reserve Bank of India. Stock Brokers shall not accept cash from their clients either directly or by way of cash deposit to the Bank Account of Stock Broker.
Group Companies Members of : BSE, NSE, MCX, MCX.SX, CDSL, NCDEX, Broking Services, Depository Services, Portfolio Management Services, Member Area IPO Distribution, Insurance Broking
BSE Clearing No.: 911 | SEBI Regn. No.: INZ000177531 (Cash/F&O) | NSE Clearing No.: 11858 | SEBI Regn. No. INZ000177531 (Cash/F&O/CDs) | MCX-SX Clearing No.: 11400 | SEBI Regn. No.: INZ000177531 (CDs) | CDSL DP ID: 30300 | SEBI Regn. No.: IN-DPCDSL-210-2003 | MCX SEBI Reg No.: INZ000032336 | MCX: 10665 | NCDEX: 00254 | NBFC RBI Regn. No.: 13.01851
© Copyright 2018 Ajmera Associates Ltd ( ISO 9001:2015 Certified )
Designed, Developed and Powered By CMOTS Infotech ( ISO 9001:2015 Certified )
Open An Account Today !