Indian markets were trading firm, up 2 per cent, on Wednesday after Prime Minister Narendra Modi announced a Rs 20-trillion stimulus package to jump start the battered economy, the details of which will be announced through the week. WHAT BROKERAGES SAY ABOUT THE ANNOUNCEMENT
The S&P BSE Sensex jumped 713 points to 32,080 levels and the Nifty50 index was testing 9,400 levels. Maruti Suzuki India gained 6 per cent ahead of its March quarter results. Vedanta hit 10 per cent upper circuit after promoter Anil Agarwal announced intention to take the firm private by buying out shares held by public. Besides, Larsen & Tourbo and ICICI Bank (both up 6%) were the top gainers in Sensex pack.
All the Nifty sectoral indices were in the green, led by Nifty Private Bank index, up 5 per cent.
Earnings today
Maruti Suzuki and nine other firms are slated to report their March quarter results today. India's largest carmaker's profit could fall up to 40 per cent on a year-on-year basis, while revenue decline could be in early teens, led largely by sharp fall in volumes. READ PREVIEW HERE
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02:43 PM
NEWS ALERT | Southwest Monsoon seen advancing over Andaman sea around May 16, says MeT Dept: CN
02:38 PM
COVID-19 FALLOUT :: UK GDP shrinks by record 5.8% in March, reports Reuters
>> Britain’s economy shrank by a record 5.8% in March as the coronavirus crisis escalated
>> In the first three months of the year, GDP contracted by 2.0% from the last three months of 2019, the biggest drop since the depths of the financial crisis in late 2008, the Office for National Statistics said.
02:36 PM
Nestle India at day's low, down over 5% now in an otherwise strong market
02:35 PM
At $45 bn, India's PE/VC investment in 2019 highest in over 10 yrs: Report
India’s share in the APAC deal market increased to nearly 25 per cent in 2019 and the investment value was about 70 per cent higher than in 2018 and nearly 110 per cent higher than the previous five-year average. The top 15 deals in India, which constituted more than 35 per cent of total investment value in 2019, include five from real estate; three in IT and ITES; and the rest across BFSI, telecommunications, energy, and consumer technology. Notable large investments in 2019 included stakes in Reliance Jio Infratel, Pipeline Infrastructure, Axis Bank, GMR Airports, GVK Airport Holdings, and Paytm. READ MORE
02:25 PM
Vedanta delisting bid 'not serious', says Stakeholders Empowerment Services
“It can be said that offer is not serious, as expecting that investors will lap up the offer at a price which is less than 50 per cent of 52-week high, almost 45 per cent of book value (31st March 2019), a dividend yield of 20 per cent plus when interest rates are historic low with a chance of revival, amounts to questioning the wisdom of investors. Finally, is the price fair? The unequivocal answer is not at all,” SES analysts Varun Krishnan and JN Gupta have said in a note. READ MORE
02:17 PM
CPSE stocks rally; BHEL surges 25%, REC and Engineers India up over 10%
BEML, Bharat Electronics (BEL), Moil, Balmer Lawrie & Company, NMDC, Steel Authority of India (SAIL), Shipping Corporation of India and National Fertilisers were up in the range of 6 per cent to 10 per cent, while Rail Vikas Nigam, MSTC, India Tourism Development Corporation (ITDC) were locked in 5 per cent upper circuit on the BSE. READ MORE
02:16 PM
NEWS ALERT | PM Modi to meet chairpersons of empowered groups later today: ANI
ANI
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@ANI
Prime Minister Narendra Modi to meet Chairpersons of the Empowered Groups later today. #COVID19 (file pic)
View image on Twitter
467
2:09 PM - May 13, 2020
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02:14 PM
NEWS ALERT | Tata Motors restarts operations at select plants and dealerships: CNBC TV18
02:09 PM
Rupee closing
Rupee ends higher at 75.47/$ vs Tuesday's close of 75.50 against the US dollar
02:04 PM
New SIP registrations slip to 13-month low of 750,000 in April
The number of new registrations for systematic investment plans or SIPs slipped to a 13-month low of 750,000 in April.
Compared to March’s tally, it was 11 per cent less. As a result, the SIP closure ratio (the share of closure requests as a percentage of new SIPs) spiked to 72 per cent in April, from 70 per cent. At the same time, the number of closures saw some easing after crossing the 600,000-mark in March. READ MORE
01:55 PM
Escorts hits over 2-month high ahead of Q4 results; stock up 18% in 6 days
Shares of Escorts hit an over two-month high of Rs 819, surging 7 per cent, on the BSE on Wednesday ahead of the company's January-March quarter results (Q4FY20) results scheduled for tomorrow. The stock was trading at its highest level since March 6, 2020. The board of directors of the company is scheduled to meet on Thursday, May 14, 2020, to consider audited financial results for the quarter and year ended March 31, 2020. The board will also consider the payment of dividend for the fiscal, if any.
The S&P BSE Sensex jumped 713 points to 32,080 levels and the Nifty50 index was testing 9,400 levels. Maruti Suzuki India gained 6 per cent ahead of its March quarter results. Vedanta hit 10 per cent upper circuit after promoter Anil Agarwal announced intention to take the firm private by buying out shares held by public. Besides, Larsen & Tourbo and ICICI Bank (both up 6%) were the top gainers in Sensex pack.
All the Nifty sectoral indices were in the green, led by Nifty Private Bank index, up 5 per cent.
Earnings today
Maruti Suzuki and nine other firms are slated to report their March quarter results today. India's largest carmaker's profit could fall up to 40 per cent on a year-on-year basis, while revenue decline could be in early teens, led largely by sharp fall in volumes. READ PREVIEW HERE
CATCH ALL THE LIVE UPDATES
Auto Refresh
02:43 PM
NEWS ALERT | Southwest Monsoon seen advancing over Andaman sea around May 16, says MeT Dept: CN
02:38 PM
COVID-19 FALLOUT :: UK GDP shrinks by record 5.8% in March, reports Reuters
>> Britain’s economy shrank by a record 5.8% in March as the coronavirus crisis escalated
>> In the first three months of the year, GDP contracted by 2.0% from the last three months of 2019, the biggest drop since the depths of the financial crisis in late 2008, the Office for National Statistics said.
02:36 PM
Nestle India at day's low, down over 5% now in an otherwise strong market
02:35 PM
At $45 bn, India's PE/VC investment in 2019 highest in over 10 yrs: Report
India’s share in the APAC deal market increased to nearly 25 per cent in 2019 and the investment value was about 70 per cent higher than in 2018 and nearly 110 per cent higher than the previous five-year average. The top 15 deals in India, which constituted more than 35 per cent of total investment value in 2019, include five from real estate; three in IT and ITES; and the rest across BFSI, telecommunications, energy, and consumer technology. Notable large investments in 2019 included stakes in Reliance Jio Infratel, Pipeline Infrastructure, Axis Bank, GMR Airports, GVK Airport Holdings, and Paytm. READ MORE
02:25 PM
Vedanta delisting bid 'not serious', says Stakeholders Empowerment Services
“It can be said that offer is not serious, as expecting that investors will lap up the offer at a price which is less than 50 per cent of 52-week high, almost 45 per cent of book value (31st March 2019), a dividend yield of 20 per cent plus when interest rates are historic low with a chance of revival, amounts to questioning the wisdom of investors. Finally, is the price fair? The unequivocal answer is not at all,” SES analysts Varun Krishnan and JN Gupta have said in a note. READ MORE
02:17 PM
CPSE stocks rally; BHEL surges 25%, REC and Engineers India up over 10%
BEML, Bharat Electronics (BEL), Moil, Balmer Lawrie & Company, NMDC, Steel Authority of India (SAIL), Shipping Corporation of India and National Fertilisers were up in the range of 6 per cent to 10 per cent, while Rail Vikas Nigam, MSTC, India Tourism Development Corporation (ITDC) were locked in 5 per cent upper circuit on the BSE. READ MORE
02:16 PM
NEWS ALERT | PM Modi to meet chairpersons of empowered groups later today: ANI
ANI
✔
@ANI
Prime Minister Narendra Modi to meet Chairpersons of the Empowered Groups later today. #COVID19 (file pic)
View image on Twitter
467
2:09 PM - May 13, 2020
Twitter Ads info and privacy
62 people are talking about this
02:14 PM
NEWS ALERT | Tata Motors restarts operations at select plants and dealerships: CNBC TV18
02:09 PM
Rupee closing
Rupee ends higher at 75.47/$ vs Tuesday's close of 75.50 against the US dollar
02:04 PM
New SIP registrations slip to 13-month low of 750,000 in April
The number of new registrations for systematic investment plans or SIPs slipped to a 13-month low of 750,000 in April.
Compared to March’s tally, it was 11 per cent less. As a result, the SIP closure ratio (the share of closure requests as a percentage of new SIPs) spiked to 72 per cent in April, from 70 per cent. At the same time, the number of closures saw some easing after crossing the 600,000-mark in March. READ MORE
01:55 PM
Escorts hits over 2-month high ahead of Q4 results; stock up 18% in 6 days
Shares of Escorts hit an over two-month high of Rs 819, surging 7 per cent, on the BSE on Wednesday ahead of the company's January-March quarter results (Q4FY20) results scheduled for tomorrow. The stock was trading at its highest level since March 6, 2020. The board of directors of the company is scheduled to meet on Thursday, May 14, 2020, to consider audited financial results for the quarter and year ended March 31, 2020. The board will also consider the payment of dividend for the fiscal, if any.
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