Last Updated: 23 Jul 2019 04:39 AM

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  • Sensex Ends 305 Points Lower; FMCG and Finance Stocks Witness Huge Selling


    India share markets continued to witness selling pressure during closing hours and ended their day deep in the red.

    At the closing bell, the BSE Sensex stood lower by 305 points (down 0.8%) and the NSE Nifty closed down by 82 points (down 0.7%).

    The BSE Mid Cap index ended the day down 0.6%, while the BSE Small Cap index ended the day down 1.2%.

    Sectoral indices ended on a negative note with stocks in the finance sector and FMCG sector witnessing most of the selling pressure.

    The rupee was trading at 68.96 against the US$.

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    Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng was down by 1.37% and the Shanghai Composite was down by 1.27%. The Nikkei 225 was down 0.23%.

    European markets were trading on a positive note. The FTSE 100 was up by 0.33%. The DAX was trading up by 0.15%, while the CAC 40 was up by 0.06%.

    Market participants were tracking TVS Motor share price, Wendt share price, and Lakshmi Machine share price as these companies announced their June quarter (Q1FY20) results today.

    You can also read our recently released Q1FY20 results: Bandhan Bank, Cyient, Rallis, Dabur.

    In the news from the banking space, HDFC Bank share price was in focus today. The stock of the lender witnessed selling pressure on the back of moderate weakness in Q1FY20 asset quality numbers and slowdown in retail loan growth.

    The private sector lender registered a 21% year-on-year (YoY) increase in profits and 23% YoY rise in net interest income with loan growth at 17% for the quarter ended June 2019.

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    The moderation in loan growth came due to a consistent slowdown in retail book and auto segment.

    However, on the asset quality front, gross non-performing assets and net non-performing assets increased 4 basis points (bps) each sequentially to 1.4% and 0.43%, respectively.

    Credit cost crossed 1% for first time for the bank due to elevated slippage ratio which stood at 2.04% in June quarter against 1.75% in Q4FY19.

    Provisions for bad loans also increased significantly by 38.3% sequentially and 60.4% YoY to Rs 26.1 billion in the June quarter due to unsecured book and NBFC accounts.

    Apart from the results, the bank has revised its fixed deposit interest rates on select maturities with effect from Monday, July 22.

    It has revised the interest rate applicable to maturity periods such as 30-45 days, 46-60 days and one year. The bank is offering an interest rate of 5.5% to general public and 6% to senior citizens on fixed deposits of 30-45 days.

    Previously, the private lender paid interest rates of 5.75% and 6.25% to the general public and senior citizens respectively.

    Speaking of the banking sector, it was recently reported that the scheduled commercial banks (SCBs) credit growth moderated to 12% YoY compared with 12.7% growth in May 2019. The credit growth has improved from 10.9% at end June 2018.

    Co-head of Research at Equitymaster, Tanushree Banerjee believes retail and corporate credit are expected to grow by multi-fold over the next few years.

    Rising Credit Growth in India

    Here's what she wrote about it in one of the recent editions of The 5 Minute WrapUp...

    • One theme I strongly believe will play out over the next decade is the credit growth in India.

      The growth I foresee will be due to two reasons. Expanding GDP and credit penetration.

      Recent reforms like Jan Dhan, Mudra Yojna have helped Small and Medium Enterprises (SME's) and self-employed professionals to gain access to loans.

      Credit penetration is also expected to increase in this segment from current levels.

      Over the past few years, a lot of banks and NBFCs have started lending to this segment.

    So, look out for strong well-established financial services players which will benefit the most from this trend.

    In the news from the commodity space, crude oil witnessed buying interest today. Prices rose more than 2% on concerns that Iran's seizure of a British tanker last week may lead to supply disruptions in the energy-rich Gulf.

    Last week, it was reported by Iran's Revolutionary Guards that they had captured a British-flagged oil tanker in the Gulf in response to Britain's seizure of an Iranian tanker earlier this month.

    The move has increased the fear of potential supply disruptions in the Strait of Hormuz at the mouth of the Gulf, through which flows about one-fifth of the world's oil supplies.

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    Crude oil has been trading on a volatile note this month. The commodity saw losses last week after official data showed US stockpiles of products like gasoline rose sharply earlier this month.

    As per the data, US domestic crude supplies fell for a fifth straight week. According to data released by the US Energy Information Administration (IEA), US crude inventory for the week ended July 12 fell 3.11 million barrels to 455.88 million barrels.

    Meanwhile, volatility was also seen on the back of ongoing geopolitical tensions in the Middle East.

    Iran said that a small oil products tanker missing in the Strait of Hormuz was in its territorial waters. This stoked fraught relations with Iran's neighbors and the West over threats to shipping in the key oil chokepoint.

    How this all pans out remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

    Speaking of crude oil, in the video below, Vijay Bhambwani explains how trading in crude oil is an evergreen strategy. As per him, trading in crude oil offers excellent opportunities in nearly all market conditions due to its unique standing within the world's economic and political systems.

    To know what's moving the Indian stock markets today, check out the most recent share market updates here.



    This article (Sensex Ends 305 Points Lower; FMCG and Finance Stocks Witness Huge Selling) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • ITD CEMENTATION INDIA Surges by 6%; BSE REALTY Index Down 1.2%


    ITD CEMENTATION INDIA share price has zoomed 6% and is presently trading at Rs 94.

    Meanwhile, the BSE REALTY Index is at 2,140 (down 1.2%).

    Among the top Gainers in the BSE REALTY Index today is ITD CEMENTATION INDIA (up 5.7%).

    OMAXE LTD (down 0.2%) and DLF (down 0.3%) are among the top losers today.

    Over the last one year, ITD CEMENTATION INDIA has moved down from Rs 123 to Rs 94, registering a loss of Rs 29 (down 23.6%).

    On the other hand, the BSE REALTY has moved up from 1,960 to 2,140, registering a gain of 180 points (up 8.0%) during the last 12 months.

    The top gainers among the BSE REALTY Index stocks during this same period were GODREJ PROPERTIES (up 44.9%), OBEROI REALTY (up 17.9%) and SOBHA LIMITED (up 17.6%).

    What About the Benchmark Indices?

    The BSE Sensex is at 38,334 (down 0.8%).

    The top gainers among the BSE Sensex stocks today are YES BANK (up 9.4%), VEDANTA LTD (up 4.0%) and ASIAN PAINTS (up 2.6%). Other gainers include MARUTI SUZUKI (up 2.6%) and RELIANCE IND. (up 2.4%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

    In the meantime, NSE Nifty is at 11,398 (down 0.7%). YES BANK (up 9.4%) is among the top gainers in NSE Nifty.

    Over the last 12 months, the BSE Sensex has moved up from 36,351 to 38,334, registering a gain of 1,983 points (up 4.6%).

    ITD CEMENTATION INDIA Financial Update...

    ITD CEMENTATION INDIA net profit down at Rs 25 million for the quarter ended March 2006, compared to a loss of Rs 72 million a year ago. Net Sales declined 23.9% to Rs 1.3 billion during the period as against Rs 1.7 billion in January-March 2005.

    For the year ended December 2004, ITD CEMENTATION INDIA reported 1164.1% decrease in net profit to Rs 415.0 million compared to net profit of Rs 39.0 million during FY03.

    Revenue of the company grew 4.9% to Rs 5 billion during FY04.

    The current Price to earnings ratio of ITD CEMENTATION INDIA, based on rolling 12 month earnings, stands at 5.1x.

    This article (ITD CEMENTATION INDIA Surges by 6%; BSE REALTY Index Down 1.2%) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • YES BANK Surges by 10%; BSE BANKEX Index Down 1.4%


    YES BANK share price has zoomed 10% and is presently trading at Rs 92.

    Meanwhile, the BSE BANKEX Index is at 33,420 (down 1.4%).

    Among the top Gainers in the BSE BANKEX Index today is YES BANK (up 10.5%).

    INDUSIND BANK (down 0.1%) and AXIS BANK (down 0.3%) are among the top losers today.

    Over the last one year, YES BANK has moved down from Rs 391 to Rs 92, registering a loss of Rs 299 (down 76.5%).

    On the other hand, the BSE BANKEX has moved up from 29,606 to 33,420, registering a gain of 3,814 points (up 11.5%) during the last 12 months.

    The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 57.5%), AXIS BANK (up 37.9%) and SBI (up 34.9%).

    What About the Benchmark Indices?

    The BSE Sensex is at 38,334 (down 0.8%).

    The top gainers among the BSE Sensex stocks today are YES BANK (up 10.5%), VEDANTA LTD (up 3.9%) and MARUTI SUZUKI (up 2.6%). Other gainers include RELIANCE IND. (up 2.6%) and ASIAN PAINTS (up 2.4%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

    In the meantime, NSE Nifty is at 11,398 (down 0.6%). YES BANK (up 10.2%) is among the top gainers in NSE Nifty.

    Over the last 12 months, the BSE Sensex has moved up from 36,351 to 38,334, registering a gain of 1,983 points (up 4.7%).

    YES BANK Financial Update...

    YES BANK net profit down at Rs 1 billion for the quarter ended June 2019, compared to a loss of Rs 10 billion a year ago. Operating income declined 1.8% to Rs 78.2 billion during the period as against Rs 79.6 billion in April-June 2018.

    For the year ended March 2019, YES BANK reported 59.6% decrease in net profit to Rs 17.1 billion compared to net profit of Rs 42.3 billion during FY18.

    Revenue of the company grew 46.2% to Rs 296 billion during FY19.

    The current Price to earnings ratio of YES BANK, based on rolling 12 month earnings, stands at 7.4x.

    This article (YES BANK Surges by 10%; BSE BANKEX Index Down 1.4%) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • REPCO HOME Plunges by 5%; BSE 500 Index Down 0.6%


    REPCO HOME share price has plunged 5% and is presently trading at Rs 354.

    Meanwhile, the BSE 500 Index is at 14,738 (down 0.6%).

    Among the top losers in the BSE 500 Index today are REPCO HOME (down 5.2%) and PROCTER & GAMBLE HEALTH (down 5.3%).

    YES BANK (up 9.8%) and DISH TV (up 7.9%) are among the top gainers today.

    Over the last one year, REPCO HOME has moved down from Rs 578 to Rs 354, registering a loss of Rs 224 (down 38.7%)..

    The BSE 500 has moved up from 14,658 to 14,738, registering a gain of 80 points (up 0.5%) during the last 12 months.

    The top gainers among the BSE 500 Index stocks during this same period were ADANI POWER (up 181.8%), VINATI ORGANICS (up 111.8%) and PROCTER & GAMBLE HEALTH (up 98.2%).

    What About the Benchmark Indices?

    The BSE Sensex is at 38,334 (down 0.7%). The top gainers among the BSE Sensex stocks today are YES BANK (up 9.8%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

    In the meantime, NSE Nifty is at 11,398 (down 0.6%). YES BANK (up 10.2%) and HINDALCO (up 4.1%) are among the top gainers in NSE Nifty.

    Over the last 12 months, the BSE Sensex has moved up from 36,351 to 38,334, registering a gain of 1,983 points (up 4.7%).

    REPCO HOME Financial Update...

    REPCO HOME net profit stood at Rs 556 million for the quarter ended December 2018, compared to a profit of Rs 485 million a year ago. Net Sales rose 9.5% to Rs 3.0 billion during the period as against Rs 2.8 billion in October-December 2017.

    For the year ended March 2018, REPCO HOME reported 13.1% increase in net profit to Rs 2.1 billion compared to net profit of Rs 1.8 billion during FY17.

    Revenue of the company grew 5.9% to Rs 11 billion during FY18.

    The current Price to earnings ratio of REPCO HOME, based on rolling 12 month earnings, stands at 8.7x.

    This article (REPCO HOME Plunges by 5%; BSE 500 Index Down 0.6%) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • KIOCL Plunges by 5%; BSE METAL Index Up 1.8%


    KIOCL share price has plunged 5% and is presently trading at Rs 114.

    Meanwhile, the BSE METAL Index is at 10,429 (up 1.8%).

    Among the top losers in the BSE METAL Index today is KIOCL (down 5.1%).

    VEDANTA LTD (up 3.9%) and SAIL (up 3.5%) are among the top gainers today.

    Over the last one year, KIOCL has moved down from Rs 164 to Rs 114, registering a loss of Rs 51 (down 30.9%)..

    The BSE METAL has moved down from 11,795 to 10,429, loss of 1,366 points (down 11.6%) during the last 12 months.

    The top gainers among the BSE METAL Index stocks during this same period were NMDC LTD (up 19.0%) and HINDALCO (up 1.2%).

    What About the Benchmark Indices?

    The BSE Sensex is at 38,334 (down 0.7%). The top gainers among the BSE Sensex stocks today are YES BANK (up 8.9%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

    In the meantime, NSE Nifty is at 11,398 (down 0.5%). YES BANK (up 10.6%) is among the top gainers in NSE Nifty.

    Over the last 12 months, the BSE Sensex has moved up from 36,351 to 38,334, registering a gain of 1,983 points (up 4.7%).



    This article (KIOCL Plunges by 5%; BSE METAL Index Up 1.8%) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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