The Sensex was up 160.10 points at 38767.11, while Nifty was up 46.80 points at 11,643.50.
Apr 12, 03:34 PM (IST)
Market at close: The benchmark indices ended higher on Friday with Nifty ended above 11,600 level.
At close, the Sensex was up 160.10 points at 38767.11, while Nifty was up 46.80 points at 11,643.50. About 1355 shares have advanced, 1138 shares declined, and 153 shares are unchanged.
Shares of IT major, Tata Consultancy Services (TCS) and Infosys ended flat ahead of their March quarter earnings to be released later today.
GAIL, ITC, Maruti Suzuki, Cipla and Zee Entertainment were among major top gainers on the Nifty, while losers were Indiabulls Housing Finance, IOC, Bajaj Finance, L&T and Tata Motors.
Among the sectors, auto and FMCG indices led the gainers with 1 percent gain followed by IT, pharma and bank.
Apr 12, 03:22 PM (IST)
JUST IN | Central Electricity Regulatory Commission (CERC) approved higher tariff for Adani Power’s 2000 MW Mundra plant, reported CNBC-TV18.
Apr 12, 03:12 PM (IST)
Gold Update: Gold prices inched up on Friday, a day after the metal posted its biggest daily percentage decline in two weeks, as the dollar and Asian equities slipped.
Apr 12, 02:48 PM (IST)
Max Group enters commercial real estate: Max Estates, a subsidiary of Max Ventures & Industries announced the opening of its flagship office project – Max Towers located on the Delhi Noida Directway (DND).
Apr 12, 02:28 PM (IST)
Mold-Tek Technologies declares interim dividend: The board of directors at its meeting declared an interim dividend for the Financial Year 2018-19, at 40 percent i.e, Rs 0.80 per equity share on face value of Rs 2 per share.
Apr 12, 02:04 PM (IST)
Deep Industries bags order: The company has received letter of award from ONQC, for Charter Hiring of 01 No. of 50 MT work over rig for Ahmedabad Asset for Category-2 for a period of three years. The total estimated value of the said award is approximate Rs 18 crore.
Apr 12, 01:38 PM (IST)
RITES order book up by 27.5% during FY19: RITES order book has substantially improved from Rs 4818 crore as on 31St March 2018 to Rs.6142 crore at the end of the FY19 (accounts for the FY19 are under audit). Company has secured more than 300 projects/contracts including extension in scope of projects during FY19.
Apr 12, 01:14 PM (IST)
Q4 for Auto may be Challenging
Q4FY19 for auto sector is expected to be a challenging quarter, with volumes declining across segments, HDFC Securities said.
OEM’s have destocked inventory by lowering production to align with market demand, it added.
Retails have been impacted due to multiple factors including higher insurance cost, unseasonal weather as well as restricted finance availability, it said.
Apr 12, 12:58 PM (IST)
Motherson Sumi Systems slips after HSBC cuts price target
Motherson Sumi Systems shares fell over a percent intraday after British investment firm HSBC maintained its buy call on the stock but slashed price target to Rs 170 from Rs 233 per share.
“Our target price factors in slower car market & rupee appreciation against euro,” said the brokerage which also cut earnings estimates by 15-30% to factor in that weaker domestic & global car markets.
According to HSBC, Q4 could be another slow quarter for the auto ancillary company but FY20/21 would be strong. “We are positive on longer term and company will benefit from rising role of auto component suppliers.”
Apr 12, 12:44 PM (IST)
Thermax has acquired the entire stake held by the joint venture partners namely MUTARES HOLDING-24 AG, Germany and BALCKEDUERR GmbH, Germany in JV company Thermax SPX Energy Technologies.
Apr 12, 12:19 PM (IST)
Inox Leisure has commenced the commercial operations of a Multiplex Cinema Theatre taken on lease basis at Lucknow. The said multiplex cinema theatre has 4 screens and 803 seats.
Apr 12, 11:49 AM (IST)
Buzzing: Lupin shares gained 2 percent after it announced the launch of Testosterone Gel, 1.62% (20.25 mg/1.25 g pump actuation), having received an approval from the United States Food and Drug Administration (FDA).
Apr 12, 11:38 AM (IST)
Vodafone Spain in association with OnMobile Global introduces Kids Planet, an entertainment app with over 3,000 contents from Sanrio, Planeta Junior, Highlights for Children, Lingo Kids, Motion Pictures and many others, with a high educative value, addressed to kids from 3 to 12 years old.
Apr 12, 10:47 AM (IST)
Cipla has launched Niveoli, India’s first extra-fine particle beclomethasone-formoterol combination hydrofluoroalkane (HFA) inhaler for adults, targeting drug delivery to the small airways.
Apr 12, 10:36 AM (IST)
Avenue Supermarts falls after Morgan Stanley initiates underweight, sees 24% downside Avenue Supermarts shares fell 1.5 percent in morning on April 12 after global brokerage house Morgan Stanley initiated coverage with underweight rating on the stock. Its target price for the stock stood at Rs 1,120 per share, implying 24 percent downside from current levels.
Apr 12, 10:24 AM (IST)
The rupee recovered some losses and traded down by 20 paise at 69.13 against the US dollar owing to increased demand for the greenback from importers and banks.
The Indian rupee Thursday climbed 19 paise to close at 68.92 against the US dollar.
Forex traders said the strengthening of the greenback vis-a-vis other currencies overseas and rising crude oil prices in overseas market added pressure to the domestic unit.
Apr 12, 09:53 AM (IST)
SpiceJet to add 16 Boeing 737-800 aircraft: Shares of SpiceJet rallied nearly 8 percent after the budget carrier said that it will induct 16 Boeing 737-800 aircraft to its fleet.
Apr 12, 09:44 AM (IST)
Buzzing: Share price of Lumax Auto Technologies rose more than 5 percent as company entered into a joint venture agreement with German company.
Apr 12, 9:25 AM (IST)
Brokerages View: Source: CNBC-TV18
CLSA on Tata Motors
Tata Motors broke out its 2018-2019 basing pattern with recent move
Expect 50% upside which was reinforced this week with move above 200 DMA
CLSA on Lemon Tree
Maintain buy call, target at Rs 89 per share
Key Acquisition, New Management Contract Opportunities to Help Gain Scale
Morgan Stanley on Avenue Supermarts
Initiate at underweight, target at Rs 1,120 per share
Rising competition may blunt DMart’s first-mover advantage
HSBC on Motherson Sumi
Maintain buy call, target cut to Rs 170 from Rs 233 per share
Target price factors in slower car market
HSBC on Shriram Transports
Maintain buy rating, target at Rs 1,450 per share
Lack of clarity on group’s restructuring plan an overhang
Maybank on Bharti Airtel
Maintain hold, target raised to Rs 340 from Rs 300 per share
Target reflects replacement value of fibre assets at Rs 38 per share
Apr 12, 9:18 AM (IST)
Market Opens: Benchmark indices opened flat with positive bias on Friday with Nifty above 11,600 mark.
At 09:17 hrs IST, the Sensex is up 58.09 points or 0.15% at 38665.10, while Nifty is up 20 points or 0.17% at 11616.70. About 452 shares have advanced, 303 shares declined, and 31 shares are unchanged.
IOC, TCS, Infosys, ONGC, HPCL, BPCL, Tata Steel, RIL, Wipro, Power Grid, Cipla, Bajaj Finance are among major gainers, while losers are HCL Tech, Tata Motors, HDFC, Dr. Reddy’s Lab, Adani Ports and Yes Bank.
All the sectoral indices are trading in green. Midcap and smallcap indices are trading with marginal gains.
Apr 12, 9:06 AM (IST)
Rupee Opens: The Indian rupee opened lower by 12 paise at 69.04 per dollar on Friday versus previous close 68.92.
Apr 12, 8:49 AM (IST)
Crude Update: Oil prices were firm on Friday, supported by ongoing supply cuts led by producer club OPEC and by US sanctions on petroleum exporters Iran and Venezuela.
Apr 12, 8:37 AM (IST)
Wall Street ends lower: Healthcare stocks pulled Wall Street lower on Thursday as growing fears of a global economic slowdown countered upbeat economic data and investors waited for earnings season to kick into high gear.
Apr 12, 8:13 AM (IST)
Asian markets trade lower?: Asian shares were flat and US Treasury yields pulled back on Friday as investor caution prevailed ahead of the release of first-quarter corporate earnings, although stronger US economic data helped offset some concerns about global growth.
Apr 12, 7:46 AM (IST)
SGX Nifty: Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 33 points or 0.28 percent. Nifty futures were trading around 11,643-level on the Singaporean Exchange.
Apr 12, 7:39 AM (IST)
Good morning and welcome to the live coverage of all the action from D-Street. Stay tuned to this blog for all live updates from the market in India and around the world.
Source:- Moneycontrol News