MARKET LIVE: Sensex jumps 400 pts, Nifty tops 11,700 as autos, metals surge

markets
Extending their gains, benchmark indices were trading a per cent higher in the morning deals on Tuesday.
The S&P BSE Sensex was trading at 39,641 levels, up 400 points or 1 per cent while NSE's Nifty50 index was hovering near 11,750 level at 11,744, up 118 points or 1 per cent.
On the sectoral front, barring FMCG and media counters, all the indices were trading in the green.
In the broader market, the S&P BSE Midcap index was trading 0.57 per cent higher at 14,524 while the S&P BSE SmallCap index was trading 0.50 per cent higher at 13,377 levels.
EARNINGS TODAY
About 17 companies are scheduled to announce their Q2FY20 results today.
BUZZING STOCKS
Shares of Bharti Airtel slipped up to 4 per cent in the opening deals on Tuesday after the company deferred its September quarter results till November 14 saying it needed more clarity on adjusted gross revenue (AGR) matter. The company was slated to release its financial results today. READ MORE
Shares of Tata Motors jumped as much as 15 per cent in the morning deals on Tuesday on better-than-expected Q2 results. The auto major had settled over 16 per cent higher during the one-hour Muhurat Trading session on Sunday, that marked the beginning of new Samvat year - 2076. In two trading sessions, the stock has jumped 34 per cent. READ MORE
Shares of Marico slipped up to 7.3 per cent to Rs 362.35 on the BSE on Tuesday on tepid growth in the September quarter of FY20. Despite a 17 per cent rise in the net profit, weakness in the domestic business dented sentiment. READ MORE

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12:02 PM
MARKET CHECK | Top 5 gainers on the BSE at present
12:00 PM
IndiGo dips 5% as DGCA warns of action post 3 cases of in-flight shut-downs
InterGlobe Aviation-run IndiGo airlines slipped for the third consecutive day, down 5 per cent on the BSE on Tuesday, after industry regulator Directorate General of Civil Aviation (DGCA) instructed the airline to change engines on 16 of its Airbus A320neos, following three instances of in-flight engine shut-downs. The regulator has warned the airline the aircraft would have to be grounded if the changes are not completed in the next 15 days. READ MORE

11:53 AM
BROKERAGE RADAR | Dolat Analysis & Research Themes (DART) on Castrol India
Castrol India has been continuously working on protecting margins with sustainable growth. Given the under performance of the stock price for a prolonged period, CSTRL business performance in the next two quarters will be crucial for the long term stock outlook. Recommend Accumulate, with a target price of Rs 172, to trade at 19x CY20 EPS.
11:40 AM
NEWS ALERT | Strategic p'ship with Saudi to include Saudi investment in downstream oil projects: PM Modi
-- Lookign forward to Aramco's participation in India's strategic petro reserves
(As reported by CNBC TV18)
11:30 AM
Market check | Sensex trades near 4-month high
11:26 AM
BROKERAGE RADAR | MOFSL on SBI
SBIN reported a moderation in slippages across segments (after elevated slippages in 1Q), while it prudently used the gain from the stake sale in SBI Life to create higher provisions. The bank carries sufficient provisions to cushion earnings; however, given the macro slowdown and the limited visibility on the resolution of large stressed accounts, we expect credit cost to stay elevated over the near term. Margins have improved but appear to have peaked out as monetary easing continues exerting pressure on incremental yields. We fine tune our earnings and estimate SBIN to deliver PAT of Rs 199b/Rs 296b in FY20/21 (+1.3%/2.6%). Maintain Buy with a target price of Rs 350 (1.1x FY21E ABV for the bank).

11:15 AM
BROKERAGE RADAR | HDFC Securities on ICICI Bank
We continue to like to the structural change in the bank’s B/S (increasing retailisation) and P&L fortification (better margins, lower LLPs due to better coverage). These trends appear sustainable and are likely to persist over the medium term. Our estimates did factor a slight increase in stress in the near term, hence they have not changed significantly. Limited exposure to known stressed names gives us some comfort and we believe the worst in terms of asset quality is long past ICICIBC. Maintain BUY with an SOTP of Rs 510 (2.0x Sept-21E core ABV of Rs 193 and sub-value of Rs 125).
11:03 AM
Steelmakers face debt challenges amid falling prices, slowing consumption
India's biggest steelmakers may be suffering from buyer's remorse as assets they bought from bankrupt rivals stretch their bottom lines while market conditions have worsened. Less than 18 months after scooping up these distressed assets in the hopes of extracting value and boosting market share, the steelmakers are struggling to meet sales and production targets because of a slowdown in the key construction and auto sectors. READ MORE
steel plant, steel, steel factory
10:58 AM
NEWS ALERT | Govt reviews equity-related tax rate rationalisation, reports CNBC-TV18
10:57 AM
MARKET CHECK | Nifty tops 11,700
10:55 AM
Market check
10:45 AM
Marico declines 7% as consumption slowdown hits domestic biz in Q2
Shares of Marico slipped up to 7.3 per cent to Rs 362.35 on the BSE on Tuesday on tepid growth in the September quarter of FY20. Despite a 17 per cent rise in the net profit, weakness in the domestic business dented sentiment.

The fast moving consumer goods (FMCG)-major reported a 3 per cent year-on-year (YoY) decline in the domestic business turnover at Rs 1,398 crore due to "an accelerated slowdown in consumption". READ MORE
10:39 AM
Market check | Nifty50 reclaims 11,700 after 4 sessions
10:36 AM
Tata Motors extends rally on encouraging Q2 results, jumps 34% in 2 days
On Friday, Tata Motors reported a better-than-expected earnings for the September quarter, with improvement in the operational performance at Jaguar Land Rover, its Britain-based luxury vehicle arm. Net loss at the consolidated entity narrowed to Rs 216.6 crore in the three months to September, from Rs 1,048.8 crore in the same period a year before. READ MORE
10:20 AM
Market check | Sensex near day's high
10:06 AM
Bharti Airtel slips 4% as it defers September quarter results on AGR matter
Shares of Bharti Airtel slipped up to 4 per cent in the opening deals on Tuesday after the company deferred its September quarter results till November 14 saying it needed more clarity on adjusted gross revenue (AGR) matter. The company was slated to release its financial results today. READ MORE
Bharti Airtel narrows its revenue gap with Reliance Jio in March quarter
09:57 AM
Market check
09:46 AM
BROKERAGE RADAR | ICICI Securities on Astral Poly Technik
We model revenue, earning CAGR of ~22%, ~35%, respectively, in FY19-21E led by volume growth, recovery in EBITDA margin. Though we believe in strong fundamentals of APTL coupled with intact demand outlook (led by government push on housing & infra sectors), the current price discounts all near term positives. We maintain HOLD rating on the stock.
09:28 AM
Momentum Picks by ICICI Securities
09:27 AM
Top 5 losers on the BSE at present
09:26 AM
RESULTS IMPACT | Pfizer gains over 4.50% after Q2 results
09:24 AM
Bharti Airtel slips 3% as it defers Q2 results
09:23 AM
BUZZING STOCK | Tata Motors jumps 10%
09:21 AM
Sectoral gainers and losers on the NSE
09:21 AM
Top gainers and losers on the S&P BSE Sensex
09:19 AM
OPENING DEALS
At 09:17 am, the S&P BSE Sensex was trading 42 points or 0.11 per cent higher at 39,293 levels while NSE's Nifty50 index was ruling at 11,637, up 10 points or 0.09 per cent.
09:05 AM
Top gainers and losers on S&P BSE Sensex during Pre-open
09:04 AM
Market at Pre-open
09:04 AM
Market at Pre-open
09:03 AM
Rupee Opening Alert
-- Rupee opens higher at 70.72/$ vs Friday's close of Rs 70.88/$
-- Trades at 1-month high