Share Market LIVE: IRCTC, P&G Hygiene, Ashok Leyland, City Union Bank, Torrent Power, Suzlon, Hindalco among others will announce their Q3 results today
Share Market LIVE: Sensex and Nifty opened on a strong note on Wednesday, tracking strong cues from global equities, led by gains recorded in media and metal scrips, amid December earnings season. BSE 30-share S&P Sensex traded 350 points higher at 41,563 and NSE 50-share index Nifty50 traded 98 points higher at 12,207. All sectors are trading in the green today, with media and metal indices being top gainers. Companies set to announce their earnings are IRCTC, P&G Hygiene, Ashok Leyland, City Union Bank, Torrent Power, Suzlon, Hindalco among others. Overseas, Asian markets were trading positive as reports of Chinese workers returning to factories and a drop in new Coronavirus cases enthused investors. Experts said, the last leg of earnings announcement would induce stock specific volatility. Key macroeconomic data like CPI, IIP and WPI would also be actively tracked by the investors and traders.
Here’s a look at the live updates of the market action on BSE and NSE today:
Rupee opens higher at 71.23 Vs yesterday’s close of 71.28
BHEL hits new 52-week low post Q3 results
10: 30 AM
BHEL stock price hit a new 52 week low of Rs 36 today, declining 6.61% on BSE after the firm posted 17.21% year-on-year decline in its consolidated net profit at Rs 162.67 crore for the third quarter ended December 31, 2019. The engineering firm had posted a net profit of Rs 196.48 crore in the same period last year.
Net sales in the third quarter of this fiscal fell 23.32 per cent YoY to Rs 5,459.24 crore, BHEL said in a filing. Total income of the company declined to Rs 5,827.74 crore from Rs 7,563.51 crore in the year-ago period. Segment-wise, revenue from power sector fell 26.11 per cent to Rs 4,072.70 crore. Industry saw 13.77 per cent dip in revenue at Rs 1,386.54 crore.
Shares of IDBI Bank fell 4.73% lower and touched an intraday low of Rs 35.25 on BSE today after the lender’s consolidated net loss widened to Rs 57 crore during the quarter ended December 31, 2019, as against Rs 41 crore, recorded in a year-ago period.
Total income stayed flat (YoY) at Rs 62.6 crore in the October-December quarter of the current fiscal as compared to Rs 62.4 crore in the same period last financial year. Other income registered a growth of 85% (YoY) at Rs 13 crore during the quarter ended December 31, 2019, from Rs 7 crore, booked in the corresponding quarter in the previous year. Gross NPA reduced to Rs 495 crore in Q3 FY20 from Rs 553 crore in Q3 FY19, registering a decline of 10.5%. Company’s Net NPA declined 68% YoY to Rs 6 crore this quarter compared to Rs 213 crore reported in the same period a year ago.
Global Market Update
9: 45 AM
Markets globally reacted positively to news reports that Chinese workers and factories slowly returned to business following a Lunar New Year holiday that was protracted by the deadly coronavirus outbreak. Further, China’s senior medical adviser said on Tuesday the number of new coronavirus cases was falling in some provinces and forecast the epidemic would peak this month.
Elsewhere in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1%. Australian shares were up 0.27%, while Japan’s Nikkei stock index rose 0.45%.
On Wall Street, all three major US stock indices advanced in a broad-based rally with S&P 500 and the Nasdaq closing at record highs on Monday.
SBI Cards IPO gets SEBI approval
9: 40 AM
Market regulator Securities and Exchange Board of India (SEBI) has reportedly granted its in-principal approval to SBI Cards and Payment Service for floating its initial public offering (IPO). SBI Cards is likely to launch its IPO in February.
The credit card arm of State Bank of India (SBI) is expected to raise Rs 6,000 crore through the public issue, the Moneycontrol reported. The IPO would take the company’s value to Rs 55,000-60,000 crore, the report further added
9: 15 AM
Sensex and Nifty opened on a strong note on Wednesday, tracking strong cues from global equities, led by gains recorded in media and metal scrips, amid December earnings season. BSE 30-share S&P Sensex traded 350 points higher at 41,563 and NSE 50-share index Nifty50 traded 98 points higher at 12,207.
Stocks to watch today on February 12
9: 10 AM
IRCTC, P&G Hygiene, Ashok Leyland, City Union Bank, Torrent Power, Suzlon, Hindalco, BHEL, IDBI Bank, Aster DM Healthcare, Glenmark Pharmaceuticals, IndusInd Bank among others are the top stocks to watch out for in Wednesday’s trading session
Q3 Earnings Today
9: 00 AM
Indian Railway Catering And Tourism Corporation, Procter & Gamble Hygiene & Health Care, Ashok Leyland, City Union Bank, Natco Pharma, Torrent Power, Sunteck Realty, Suzlon Energy, Sterling And Wilson Solar, Vadilal Enterprises, Power Finance Corporation, Future Lifestyle Fashions, IPCA Laboratories, PI Industries, Hindalco Industries, Dish TV India, Hindustan Foods, Info Edge (India), Aarti Industries, NBCC (India), ABB India, Alfred Herbert, Amrutanjan Health Care, Bajaj Steel Industries, Balaji Telefilms, Bannari Amman Sugars, Ashiana Housing, Divi’s Laboratories, BMW Industries, Bodal Chemicals, Bharat Dynamics, Finolex Industries, Goodyear India, Industrial & Prudential Investments, Jamna Auto Industries, Ramkrishna Forgings, Rail Vikas Nigam, Schaeffler India, Sundaram Brake Linings, VIP Industries among others will release their December quarter earnings today.
8: 45 AM
Reversing trend after two days of fall, indices Sensex and Nifty closed 0.60% higher on Tuesday , tracking overseas trend led by heavy buying in metal and media stocks. BSE 30-share S&P Sensex closed 236 points higher at 41,216 and NSE 50-share index Nifty50 ended 76 points higher at 12,107. All sectors except FMCG and PSU Banking closed in the green today, with media and metal indices being top gainers. Investors also awaited December quarter earnings today.