The benchmark indices settled around 0.5 per cent lower weighed by metal and private bank stocks.
The S&P BSE Sensex ended at 33,891, down 176 points while the broader Nifty50 index settled at 10,198, down 52 points.
Among sectoral indices, the Nifty Bank index ended 0.6 per cent lower led by a fall in the shares of IndusInd Bank and ICICI Bank. The Nifty Metal index, too, settled 1.1 per cent lower weighed by Coal India. However, Nifty PSU Bank index rose for the second consecutive day, ending 2.5 per cent higher led by Union Bank of India and Canara Bank.
In individual stocks, Bharat Petroleum Corporation (BPCL) ended around 4 per cent lower at Rs 265.65 on the BSE after the oil marketing company reported a 48.3 per cent decline in its net profit to Rs 12.1871 billion for the second quarter ended September 2018. Among other stocks, Reliance Industries (RIL) fell 2.7 per cent to Rs 1,058.90 on the BSE.
Global Markets
Asian shares clawed back earlier losses on Tuesday as China made a fresh attempt to stabilise its stock markets although activity was choppy with investors cautious about further escalations in the Sino-US trade war.
MSCI's broadest index of Asia-Pacific shares outside Japan swung in and out of negative territory in morning trade and last traded 0.3 per cent higher on the day. The index has lost 12 per cent this month and is on track for its biggest October decline since 2008, during the global financial crisis.
Mainland China's benchmark Shanghai Composite and the blue-chip CSI 300 gained to 1.0 per cent and 1.1 per cent, respectively, winning back earlier losses in a volatile session. Japan's Nikkei average also erased early losses and climbed 1.5 per cent. Traders said investors were looking for bargains among beaten-down stocks.
(with Reuters input)
CATCH ALL THE LIVE UPDATES
03:43 PM
Nifty Bank index ends 0.61% lower. Top losers:
COMPANY LATEST PREV CLOSE LOSS() LOSS(%) VOLUME
INDUSIND BANK 1363.95 1412.80 -48.85 -3.46 5626406
KOTAK MAH. BANK 1123.70 1138.10 -14.40 -1.27 1899280
ICICI BANK 345.90 349.40 -3.50 -1.00 33777374
HDFC BANK 1914.00 1926.30 -12.30 -0.64 3138745
AXIS BANK 563.65 566.70 -3.05 -0.54 8421020
03:37 PM
Sectoral gainers and losers on NSE
03:37 PM
S&P BSE Sensex: Top gainers & losers
03:34 PM
Market at close
The S&P BSE Sensex shed 176 points or 0.52 per cent to settle at 33,891 while NSE's Nifty50 index ended at 10,198, down 52 points or 0.51 per cent.
03:17 PM
Symphony falls 9% on disappointing Q2 results
Shares of Symphony have slipped 9% to Rs 871 per share on the BSE in intra-day trade after the company reported 38% year-on-year (YoY) declined in consolidated net profit at Rs 310 million in September quarter (Q2FY19), on weak sales. The company engaged in air cooler business had a profit of Rs 500 million in the previous year quarter. READ MORE
03:01 PM
Domino's to offer Pepsi, Mountain Dew, Mirinda across outlets in India
Jubilant FoodWorks on Tuesday announced that PepsiCo was going to be its new beverage partner for Domino's Pizza.
As part of the partnership, the PepsiCo portfolio of carbonated beverages of Pepsi, Mountain Dew, 7Up, and Mirinda, along with Lipton Ice Tea will be sold across all Domino’s restaurants in India.
At 2:30 pm, the company's shares on BSE were down by Rs 24.75, or 2.72 per cent from their previous close, to Rs 1066 apiece. READ MORE
02:45 PM
Oil prices dip on rising supply, trade tensions
Oil prices dipped on Tuesday, dragged down by concerns that the Sino-U.S. trade dispute will dent economic growth and by signs of rising global supply despite upcoming sanctions against Iran. Front-month Brent crude oil futures were at $77.15 a barrel, down 19 cents, or 0.3 per cent, from their last close. Read more
02:30 PM
Nifty IT index is trading 1.79% higher led by Infibeam
02:15 PM
Bank of Baroda up for third straight session
The stock is quoting at Rs 111.65, up 4.25% on the NSE. Bank of Baroda is down 34.28% in last one year as compared to a 0.9% drop in NIFTY and a 0.21% drop in the Nifty Bank index. Bank of Baroda gained for a third straight session today. The benchmark NIFTY is down around 0.09% on the day, quoting at 10241.95. The Sensex is at 34060.62, down 0.02%. Bank of Baroda has risen around 6.94% in last one month. Read more
02:00 PM
Market Check
Index Current Pt. Change % Change
S&P BSE SENSEX 34,044.40 -23.00 -0.07
S&P BSE SENSEX 50 10,725.06 -0.35 0.00
S&P BSE SENSEX Next 50 30,854.14 +267.55 +0.87
S&P BSE 100 10,516.09 +13.38 +0.13
S&P BSE Bharat 22 Index 3,370.93 +5.52 +0.16
01:45 PM
Derivatives strategies: Markets rebound but indicators remain weak
The bear market found at least a temporary bottom last Friday for the Nifty, which was 10,005, and bounced on Monday on the back of short-covering and contrarian buying of beaten-down stocks. The breadth continues to look dismal as the number of stocks that went up outnumbered the ones that declined. Volumes have been generally higher on sessions with net losses. Volatility continues to be very high. The major indices are all trading below their respective 200-day moving averages (200-DMA). Read more
01:35 PM
CESC trades ex-date for demerger; stock gain 5%
Shares of CESC have moved higher by 5% to Rs 704 per share on the BSE in an otherwise range-bound market on Tuesday. The stock turned ex-date for demerger of non-power investments into new companies. CESC transferred the retail undertaking business into RP- SG Retail and of the IT undertaking into RP- SG Business Process Services. Read more
01:23 PM
EARNINGS IMPACT
01:21 PM
NEWS ALERT Dena Bank reports Q2 earnings with net loss at Rs 4.16 bn Vs loss of Rs 1.85 bn (YoY)
01:15 PM
Sensex in Jekyll and Hyde mode as investors weigh outcomes of state polls
India’s benchmark equity index fluctuated as investors weighed the possible outcome of key state elections over the next two months amid company earnings that have broadly been in line with expectations. The S&P BSE Sensex swung between gains and losses to fall 0.2 per cent to 34,014.17 as of 9:44 a.m. in Mumbai, dragged lower by Reliance Industries Ltd., the country’s second-largest company by market capitalisation. Gaining and declining stocks were evenly matched. Read more
01:04 PM
Tech Mahindra is trading higher ahead of Q2 earnings
01:00 PM
PSBs extend gain; Union Bank, Indian Bank up over 8%
Shares of public sector banks (PSBs) were trading higher for the second straight day, with Nifty PSU Bank index rising 4% on Tuesday in an otherwise subdued market. The index had surged 8% on Monday. Oriental Bank Commerce (OBC), Indian Bank, Bank of India, Dena Bank, Canara Bank and Union Bank of India were up in the range of 6% to 13%, while Syndicate Bank, Central Bank of India, Andhra Bank, Punjab National Bank (PNB), State Bank of India (SBI) and Bank of Baroda were up between 4% and 5% today. Read more
12:45 PM
Jaitley to chair FSDC meeting today even as RBI, govt lock horns in public
Finance Minister Arun Jaitley will chair the 20th meeting of the Financial Stability and Development Council on Tuesday. The FSDC is an apex body which also consists of chiefs and senior officials of all the financial sector regulators in India. The meeting, to be held in the Finance Ministry in New Delhi, is coming in the backdrop of an unprecedented churn in financial markets and sectoral regulations in India. Read more
12:32 PM
Top losers in BSE 500:
COMPANY PRICE() CHG() CHG(%) VOLUME
SUPREME PETROCH. 218.85 -14.10 -6.05 5832
8K MILES 74.45 -3.90 -4.98 262726
KWALITY 6.72 -0.35 -4.95 111842
DABUR INDIA 391.20 -17.80 -4.35 174391
HSIL 227.30 -9.00 -3.81 4301
» More on Top Losers
12:22 PM
Edelweiss Securities on Union Bank of India
Apart from high asset quality stress, mid-sized PSU banks are constrained on the operational front as well. We believe dilution risk is imminent at weaker multiples,
which will affect shareholder returns. Moreover, asset quality continues to be volatile. At current price, the stock is trading at 0.5x FY20E P/ABV. We maintain ‘HOLD/SP’.
12:15 PM
Market can get worse before it gets better, says Devangshu datta
The news got worse last week, in many ways. The fiscal deficit is likely to overshoot the target for sure, despite plenty of accounting legerdemain from the finance ministry. The trade deficit is expanding by leaps and bounds. The political establishment is chasing its own tail (vide CBI versus CBI) as assembly elections draw closer and opinion polls suggest that the Bharatiya Janata Party will be hard put to retain its hold on several states. Read more
12:04 PM
Union Bank of India trading over 13% higher post Q2 results
12:00 PM
Market check
Index Current Pt. Change % Change
S&P BSE SENSEX 34,053.16 -14.24 -0.04
S&P BSE SENSEX 50 10,735.05 +9.64 +0.09
S&P BSE SENSEX Next 50 30,910.19 +323.60 +1.06
S&P BSE 100 10,527.45 +24.74 +0.24
S&P BSE Bharat 22 Index 3,376.04 +10.63 +0.32
11:45 AM
Select stocks excluded from ASM list surge; Kiri Ind, Bombay Dyeing up 10%
Shares of select companies that were removed from an additional surveillance measures (ASM) list have rallied by up to 10% on the BSE on Tuesday. Total 81 companies including Kiri Industries, Adani Green Energy, Apex Frozen Foods, Bombay Dyeing & Manufacturing Company, Den Networks, Global Spirits, GM Breweries and Morepen Laboratories have been excluded from the ASM with effect from today. Read more
11:33 AM
S&P BSE Sensex top gainers and losers
11:31 AM
Pledged holdings fall to Rs 2.12 trillion in Q2: Edelweiss Securities
The value of pledged holdings stood at Rs 2.12 trillion for the quarter ended September 2018 compared to Rs 2.38 trillion at the end of the preceding quarter. The fall in the value of pledged shares was largely on account of the weakness in stock prices. High promoter pledging has become a pet peeve for investors at a time when liquidity situation is precarious due to the risk aversion among market lenders following the default by IL&FS. Read more
11:18 AM
Motilal Oswal on Colgate
CMP: Rs 1,106
TARGET PRICE: Rs 1,340
RATING: Buy
With the base getting challenging for volumes now, we cut our forecast by ~5% for FY19/ 20. We believe FY19 is likely to be another year of sub-par EPS growth. However, a few factors are likely to work in favor of CLGT over the medium term – these include (a) its high rural market share of ~60% (which contributes over 40% of its sales), which makes it a promising play on rural recovery, provided CLGT is able to check the urban seepage, (b) Importance of India in global oral care, which demands better execution eventually and (c) its attractive valuation of 35.8x FY20E EPS – at a 15% discount to our ex-cigarette and alcohol consumer peer valuations. With its superior return ratios compared to peers (barring HUL) – which are only likely to improve led by better utilization of expanded capacity, such a discount is unwarranted once CLGT starts delivering on the execution front. Valuing the company at 40x Sep’20 EPS, (in line with three- and five-year average multiples), we derive a target price of Rs 1,340. Maintain Buy.
11:14 AM
Motilal Oswal on BPCL
CMP: Rs 277
TARGET PRICE: Rs 397
RATING: Buy
BPCL is expected to stabilize its Kochi expansion over the next few quarters, which should expand the Kochi refinery GRM by ~USD2/bbl. OMCs have seen a sharp correction in their stock prices due to high oil prices, INR depreciation and the government asking them to absorb INR1/lit on pricing of auto fuels. 1HFY19 standalone EPS stood at INR17.9. We estimate FY19 standalone EPS of INR30. BPCL is trading at 8.0x FY20E EPS of INR35 and 7.5x FY20E EV/EBTIDA. We value the company at 1.7x (unchanged) FY20E PBV to arrive at a TP of INR397. Reiterate Buy. Key risk would be sharing of subsidy burden on LPG/kero and inability to pass on increased cost in auto fuels.
11:02 AM
HDFC Mutual Fund wins equity mandate of $450 million from unnamed FPI
HDFC Mutual Fund on Monday disclosed that it has won an equity mandate of $450 million from a reputed foreign portfolio investor (FPI), of which one-third got funded recently. However, the management declined to comment on the name of the FPI or the terms and conditions of the mandate, while sharing its half-yearly financials. Read more
10:46 AM
Investors should await clarity as Colgate reels under competitive pressure
Oral care major Colgate-Palmolive India's (Colgate's) September 2018 quarter (Q2) numbers may be in line with the Street's expectations but it shows that the company still reels under stiff competition. While net sales rose 7.7 per cent year-on-year to Rs 11.6 billion, led by a seven per cent increase in volumes, net profit grew 10.6 per cent to Rs 2 billion, almost at par with Bloomberg consensus estimates. READ MORE
The S&P BSE Sensex ended at 33,891, down 176 points while the broader Nifty50 index settled at 10,198, down 52 points.
Among sectoral indices, the Nifty Bank index ended 0.6 per cent lower led by a fall in the shares of IndusInd Bank and ICICI Bank. The Nifty Metal index, too, settled 1.1 per cent lower weighed by Coal India. However, Nifty PSU Bank index rose for the second consecutive day, ending 2.5 per cent higher led by Union Bank of India and Canara Bank.
In individual stocks, Bharat Petroleum Corporation (BPCL) ended around 4 per cent lower at Rs 265.65 on the BSE after the oil marketing company reported a 48.3 per cent decline in its net profit to Rs 12.1871 billion for the second quarter ended September 2018. Among other stocks, Reliance Industries (RIL) fell 2.7 per cent to Rs 1,058.90 on the BSE.
Global Markets
Asian shares clawed back earlier losses on Tuesday as China made a fresh attempt to stabilise its stock markets although activity was choppy with investors cautious about further escalations in the Sino-US trade war.
MSCI's broadest index of Asia-Pacific shares outside Japan swung in and out of negative territory in morning trade and last traded 0.3 per cent higher on the day. The index has lost 12 per cent this month and is on track for its biggest October decline since 2008, during the global financial crisis.
Mainland China's benchmark Shanghai Composite and the blue-chip CSI 300 gained to 1.0 per cent and 1.1 per cent, respectively, winning back earlier losses in a volatile session. Japan's Nikkei average also erased early losses and climbed 1.5 per cent. Traders said investors were looking for bargains among beaten-down stocks.
(with Reuters input)
CATCH ALL THE LIVE UPDATES
03:43 PM
Nifty Bank index ends 0.61% lower. Top losers:
COMPANY LATEST PREV CLOSE LOSS() LOSS(%) VOLUME
INDUSIND BANK 1363.95 1412.80 -48.85 -3.46 5626406
KOTAK MAH. BANK 1123.70 1138.10 -14.40 -1.27 1899280
ICICI BANK 345.90 349.40 -3.50 -1.00 33777374
HDFC BANK 1914.00 1926.30 -12.30 -0.64 3138745
AXIS BANK 563.65 566.70 -3.05 -0.54 8421020
03:37 PM
Sectoral gainers and losers on NSE
03:37 PM
S&P BSE Sensex: Top gainers & losers
03:34 PM
Market at close
The S&P BSE Sensex shed 176 points or 0.52 per cent to settle at 33,891 while NSE's Nifty50 index ended at 10,198, down 52 points or 0.51 per cent.
03:17 PM
Symphony falls 9% on disappointing Q2 results
Shares of Symphony have slipped 9% to Rs 871 per share on the BSE in intra-day trade after the company reported 38% year-on-year (YoY) declined in consolidated net profit at Rs 310 million in September quarter (Q2FY19), on weak sales. The company engaged in air cooler business had a profit of Rs 500 million in the previous year quarter. READ MORE
03:01 PM
Domino's to offer Pepsi, Mountain Dew, Mirinda across outlets in India
Jubilant FoodWorks on Tuesday announced that PepsiCo was going to be its new beverage partner for Domino's Pizza.
As part of the partnership, the PepsiCo portfolio of carbonated beverages of Pepsi, Mountain Dew, 7Up, and Mirinda, along with Lipton Ice Tea will be sold across all Domino’s restaurants in India.
At 2:30 pm, the company's shares on BSE were down by Rs 24.75, or 2.72 per cent from their previous close, to Rs 1066 apiece. READ MORE
02:45 PM
Oil prices dip on rising supply, trade tensions
Oil prices dipped on Tuesday, dragged down by concerns that the Sino-U.S. trade dispute will dent economic growth and by signs of rising global supply despite upcoming sanctions against Iran. Front-month Brent crude oil futures were at $77.15 a barrel, down 19 cents, or 0.3 per cent, from their last close. Read more
02:30 PM
Nifty IT index is trading 1.79% higher led by Infibeam
02:15 PM
Bank of Baroda up for third straight session
The stock is quoting at Rs 111.65, up 4.25% on the NSE. Bank of Baroda is down 34.28% in last one year as compared to a 0.9% drop in NIFTY and a 0.21% drop in the Nifty Bank index. Bank of Baroda gained for a third straight session today. The benchmark NIFTY is down around 0.09% on the day, quoting at 10241.95. The Sensex is at 34060.62, down 0.02%. Bank of Baroda has risen around 6.94% in last one month. Read more
02:00 PM
Market Check
Index Current Pt. Change % Change
S&P BSE SENSEX 34,044.40 -23.00 -0.07
S&P BSE SENSEX 50 10,725.06 -0.35 0.00
S&P BSE SENSEX Next 50 30,854.14 +267.55 +0.87
S&P BSE 100 10,516.09 +13.38 +0.13
S&P BSE Bharat 22 Index 3,370.93 +5.52 +0.16
01:45 PM
Derivatives strategies: Markets rebound but indicators remain weak
The bear market found at least a temporary bottom last Friday for the Nifty, which was 10,005, and bounced on Monday on the back of short-covering and contrarian buying of beaten-down stocks. The breadth continues to look dismal as the number of stocks that went up outnumbered the ones that declined. Volumes have been generally higher on sessions with net losses. Volatility continues to be very high. The major indices are all trading below their respective 200-day moving averages (200-DMA). Read more
01:35 PM
CESC trades ex-date for demerger; stock gain 5%
Shares of CESC have moved higher by 5% to Rs 704 per share on the BSE in an otherwise range-bound market on Tuesday. The stock turned ex-date for demerger of non-power investments into new companies. CESC transferred the retail undertaking business into RP- SG Retail and of the IT undertaking into RP- SG Business Process Services. Read more
01:23 PM
EARNINGS IMPACT
01:21 PM
NEWS ALERT Dena Bank reports Q2 earnings with net loss at Rs 4.16 bn Vs loss of Rs 1.85 bn (YoY)
01:15 PM
Sensex in Jekyll and Hyde mode as investors weigh outcomes of state polls
India’s benchmark equity index fluctuated as investors weighed the possible outcome of key state elections over the next two months amid company earnings that have broadly been in line with expectations. The S&P BSE Sensex swung between gains and losses to fall 0.2 per cent to 34,014.17 as of 9:44 a.m. in Mumbai, dragged lower by Reliance Industries Ltd., the country’s second-largest company by market capitalisation. Gaining and declining stocks were evenly matched. Read more
01:04 PM
Tech Mahindra is trading higher ahead of Q2 earnings
01:00 PM
PSBs extend gain; Union Bank, Indian Bank up over 8%
Shares of public sector banks (PSBs) were trading higher for the second straight day, with Nifty PSU Bank index rising 4% on Tuesday in an otherwise subdued market. The index had surged 8% on Monday. Oriental Bank Commerce (OBC), Indian Bank, Bank of India, Dena Bank, Canara Bank and Union Bank of India were up in the range of 6% to 13%, while Syndicate Bank, Central Bank of India, Andhra Bank, Punjab National Bank (PNB), State Bank of India (SBI) and Bank of Baroda were up between 4% and 5% today. Read more
12:45 PM
Jaitley to chair FSDC meeting today even as RBI, govt lock horns in public
Finance Minister Arun Jaitley will chair the 20th meeting of the Financial Stability and Development Council on Tuesday. The FSDC is an apex body which also consists of chiefs and senior officials of all the financial sector regulators in India. The meeting, to be held in the Finance Ministry in New Delhi, is coming in the backdrop of an unprecedented churn in financial markets and sectoral regulations in India. Read more
12:32 PM
Top losers in BSE 500:
COMPANY PRICE() CHG() CHG(%) VOLUME
SUPREME PETROCH. 218.85 -14.10 -6.05 5832
8K MILES 74.45 -3.90 -4.98 262726
KWALITY 6.72 -0.35 -4.95 111842
DABUR INDIA 391.20 -17.80 -4.35 174391
HSIL 227.30 -9.00 -3.81 4301
» More on Top Losers
12:22 PM
Edelweiss Securities on Union Bank of India
Apart from high asset quality stress, mid-sized PSU banks are constrained on the operational front as well. We believe dilution risk is imminent at weaker multiples,
which will affect shareholder returns. Moreover, asset quality continues to be volatile. At current price, the stock is trading at 0.5x FY20E P/ABV. We maintain ‘HOLD/SP’.
12:15 PM
Market can get worse before it gets better, says Devangshu datta
The news got worse last week, in many ways. The fiscal deficit is likely to overshoot the target for sure, despite plenty of accounting legerdemain from the finance ministry. The trade deficit is expanding by leaps and bounds. The political establishment is chasing its own tail (vide CBI versus CBI) as assembly elections draw closer and opinion polls suggest that the Bharatiya Janata Party will be hard put to retain its hold on several states. Read more
12:04 PM
Union Bank of India trading over 13% higher post Q2 results
12:00 PM
Market check
Index Current Pt. Change % Change
S&P BSE SENSEX 34,053.16 -14.24 -0.04
S&P BSE SENSEX 50 10,735.05 +9.64 +0.09
S&P BSE SENSEX Next 50 30,910.19 +323.60 +1.06
S&P BSE 100 10,527.45 +24.74 +0.24
S&P BSE Bharat 22 Index 3,376.04 +10.63 +0.32
11:45 AM
Select stocks excluded from ASM list surge; Kiri Ind, Bombay Dyeing up 10%
Shares of select companies that were removed from an additional surveillance measures (ASM) list have rallied by up to 10% on the BSE on Tuesday. Total 81 companies including Kiri Industries, Adani Green Energy, Apex Frozen Foods, Bombay Dyeing & Manufacturing Company, Den Networks, Global Spirits, GM Breweries and Morepen Laboratories have been excluded from the ASM with effect from today. Read more
11:33 AM
S&P BSE Sensex top gainers and losers
11:31 AM
Pledged holdings fall to Rs 2.12 trillion in Q2: Edelweiss Securities
The value of pledged holdings stood at Rs 2.12 trillion for the quarter ended September 2018 compared to Rs 2.38 trillion at the end of the preceding quarter. The fall in the value of pledged shares was largely on account of the weakness in stock prices. High promoter pledging has become a pet peeve for investors at a time when liquidity situation is precarious due to the risk aversion among market lenders following the default by IL&FS. Read more
11:18 AM
Motilal Oswal on Colgate
CMP: Rs 1,106
TARGET PRICE: Rs 1,340
RATING: Buy
With the base getting challenging for volumes now, we cut our forecast by ~5% for FY19/ 20. We believe FY19 is likely to be another year of sub-par EPS growth. However, a few factors are likely to work in favor of CLGT over the medium term – these include (a) its high rural market share of ~60% (which contributes over 40% of its sales), which makes it a promising play on rural recovery, provided CLGT is able to check the urban seepage, (b) Importance of India in global oral care, which demands better execution eventually and (c) its attractive valuation of 35.8x FY20E EPS – at a 15% discount to our ex-cigarette and alcohol consumer peer valuations. With its superior return ratios compared to peers (barring HUL) – which are only likely to improve led by better utilization of expanded capacity, such a discount is unwarranted once CLGT starts delivering on the execution front. Valuing the company at 40x Sep’20 EPS, (in line with three- and five-year average multiples), we derive a target price of Rs 1,340. Maintain Buy.
11:14 AM
Motilal Oswal on BPCL
CMP: Rs 277
TARGET PRICE: Rs 397
RATING: Buy
BPCL is expected to stabilize its Kochi expansion over the next few quarters, which should expand the Kochi refinery GRM by ~USD2/bbl. OMCs have seen a sharp correction in their stock prices due to high oil prices, INR depreciation and the government asking them to absorb INR1/lit on pricing of auto fuels. 1HFY19 standalone EPS stood at INR17.9. We estimate FY19 standalone EPS of INR30. BPCL is trading at 8.0x FY20E EPS of INR35 and 7.5x FY20E EV/EBTIDA. We value the company at 1.7x (unchanged) FY20E PBV to arrive at a TP of INR397. Reiterate Buy. Key risk would be sharing of subsidy burden on LPG/kero and inability to pass on increased cost in auto fuels.
11:02 AM
HDFC Mutual Fund wins equity mandate of $450 million from unnamed FPI
HDFC Mutual Fund on Monday disclosed that it has won an equity mandate of $450 million from a reputed foreign portfolio investor (FPI), of which one-third got funded recently. However, the management declined to comment on the name of the FPI or the terms and conditions of the mandate, while sharing its half-yearly financials. Read more
10:46 AM
Investors should await clarity as Colgate reels under competitive pressure
Oral care major Colgate-Palmolive India's (Colgate's) September 2018 quarter (Q2) numbers may be in line with the Street's expectations but it shows that the company still reels under stiff competition. While net sales rose 7.7 per cent year-on-year to Rs 11.6 billion, led by a seven per cent increase in volumes, net profit grew 10.6 per cent to Rs 2 billion, almost at par with Bloomberg consensus estimates. READ MORE
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