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  • Hindalco Industries reported a 17.9 per cent year-on-year drop in profit at Rs 506 crore for March quarter compared with Rs 616 crore in the corresponding quarter last year. This included numbers from Utkal operations.
  • This was against Rs 377 crore net estimated by analysts in an ET Now poll.

HFCL falls 12 per cent in Q4 net; record profit of Rs 232 crore in FY19

  • Telecom equipment and network development company Himachal Futuristic Communications Ltd (HFCL) reported a 12 per cent drop in its fourth-quarter net profit even as it ended the fiscal with highest ever order book of about two-and-half-times its current revenues.
  • Net profit in January-March quarter came at Rs 57.51 crore, down from Rs 58.24 crore net profit in the same period of the previous financial year, the company said in a statement.

European stocks dip as US sanctions on Huawei add to trade anxiety

  • European shares retreated on Thursday after Washington blacklisted Chinese telecoms giant Huawei, adding another confrontational element to the US-China trade dispute.
  • The STOXX 600 index fell 0.4 per cent by 0727 GMT with losses led by Germany’s DAX, which is sensitive to tariff and China-related news.

So far, the earning season has been in line but the problem is about the future earnings revision which is still showing more downgrades than upgrades. Out of the companies which have reported numbers so far, the upgrades to downgrade ratio is pretty poor. We have seen 35-36 companies where earnings have been downgraded by more than 3%, only 20 companies where earnings have been upgraded. So clearly the future direction of earnings is still showing downgrades.

– Gautam Duggad, Head – Research, Motilal Oswal Securities

Cadila Healthcare at over 4.5 year low; chart points to more downside

  • Shares of Cadila Healthcare fell as much as 4.2 per cent to Rs 249.5, lowest since October 1, 2014. Stock breaks below a support at Rs 255.92, the 76.4 per cent. Fibonacci projection level of the downtrend from September 10, 2018 high to Febuary 15, 2019.
  • Stock’s wave pattern suggests, it is in the third wave, typically the longest wave of a five-wave downtrend. In the near term, stock has support at Rs 243.27, the 86.4 per cent projection level.

Sensex returns in election years since 1980

IndiGo falls as carrier’s promoters fall out

Shares of InterGlobe Aviation slip as much as 6.5 per cent to Rs 1,506, logging their worst intra-day percentage loss since October 9. Promoters Rahul Bhatia and Rakesh Gangwal have allegedly fallen out over differences in, among other things, strategies and ambitions for the airline, ET reported.

IndiGo falls as carrier's promoters fall out

These 8 stocks scled 52-week highs in today’s session

Price as on 16 May, 2019 11:33 AM, Click on company names for their live prices.

Central Bank of India hits record low on widening Q4 loss

  • Shares of Central Bank of India fell as much as 9 per cent to Rs 25.05, their record low level.

  • The state-owned bank posted March-quarter loss of Rs 2,477 crore compared with the loss of Rs 2,114 crore last year on Wednesday, while provisions and contingencies rose by 19.2 per cent.

  • About 389,640 shares change hands in early trading hours, compared with 30-day average of 689,297 shares.

Lupin shares fall 6% on USFDA observations

Shares of Lupin plunged 6 per cent during Thursday morning trade, a day after it received three observations from the US health regulator for its Aurangabad-based manufacturing facility. The USFDA carried out an inspection of the plant from May 6 to May 15, Lupin said in a BSE filing.

Lupin on Wednesday said its standalone net profit for the quarter ended March 31 stood at Rs 542.78 crore, up 85.6 per cent, against Rs 292.46 crore in the corresponding quarter a year ago. However, brokerages see the growth prospects of Lupin as clouded.

12 smallcaps that have been impervious to market swings, rising every month

The selloff in midcap and smallcap stocks that left investors with limited gainers failed to touch 12 stocks, which kept delivering consistent returns month after month so far this calendar.

The list included midcap chemicals player SRF, smallcap private sector lender DCB Bank and textile player Indo Rama Synthetics besides small and microcap stocks Leading Leasing Finance and Investment and Esaar (India), Sahyog Multibase, Jump Networks, Prabhat Technologies, Kavit Industries, Fredun Pharmaceuticals, RACL Geartech and Refex Industries.

12 smallcaps that have been impervious to market swings, rising every month

Tata Chemicals, Tata Global Beverages shares jump after food business merger

Price as on 16 May, 2019 10:37 AM, Click on company names for their live prices.

Hindalco Q4 results today: Here’s what brokerages say

  • Investors would keep an eye on foreign exchange rate impact at Novelis and aluminium margins when Hindalco Industries reports March quarter earnings.

  • On a standalone basis, Edelweiss Securities expects the firm to report a 19.7 per cent YoY drop in profit at Rs 315 crore, while standalone revenue of the firm is projected to rise 11.7 per cent YoY to Rs 11,515 crore.

  • Motilal Oswal Secrueities sees profit at Rs 404.10 crore, Including Utkal operations, and sales at Rs 11,938 crore. The brokerage pegged consolidated profit (including Novelis operations) at Rs 1,139.80 crore.

  • Emkay Global brokerage expects a 48.6 per cent YoY drop in profit at Rs 193.80 crore on largely flat sales growth.

Buffett’s Berkshire unveils $861 million Amazon stake

Warren Buffett’s Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos.

The size of the investment was disclosed in a regulatory filing detailing Berkshire’s U.S.-listed stocks as of March 31.

Podcast: IndiGo hits air pocket; FIIs press ‘sell’ button and other news

Suzlon Energy, YES Bank, Tata Motors among most active stocks on NSE

Price as on 16 May, 2019 09:58 AM, Click on company names for their live prices.

OPENING BELL: Sensex gains 70 pts, Nifty holds above 11,150; Tata Motors jumps 4%, Central Bank drops 7%

OPENING BELL: Sensex gains 70 pts, Nifty holds above 11,150; Tata Motors jumps 4%, Central Bank drops 7%

Pre-open session: Sensex rises 20 points, Nifty above 11,200

Sensex rises 20 points, Nifty above 11,200; rupee trades at 70.25 against the US dollar.

Singapore trading sets stage for positive start

Nifty futures on the Singapore Exchange were trading 12.50 points, or 0.11 per cent, higher at 11,174.50, indicating a positive start for the Nifty50.

Tech view: Nifty forms Inside Bar pattern

Nifty’s immediate support stands at 11,100, a trade below which may extend the ongoing correction to 11,070-11,030 range where the 200-DMA lies, said Aditya Agarwala, Senior Manager, Technical Analyst at YES Securities. “A trade above 11,230 with good volume can trigger a short-covering rally,” he said.

Asian shares flat

Asian shares steadied on Thursday on news that US is planning to delay tariffs on auto imports, providing much needed relief to markets. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, with both Australia and South Korea little changed. Japan’s Nikkei fell 0.6 per cent, with banks hurt by weak earnings.

Oil prices up for 3rd day

Oil prices edged up on Thursday to extend gains into a third straight session, as tensions in the Middle East stoked fears of potential disruptions to supply. Brent crude futures were at $72.04 a barrel at 0110 GMT, up 27 cents, or 0.4 per cent, from their last close. Brent closed up 0.7 per cent on Wednesday.

US stocks end higher

In overnight trade, the Dow Jones Industrial Average rose 115.97 points, or 0.45 per cent, to 25,648.02, the S&P500 index gained 16.55 points, or 0.58 per cent, to 2,850.96 and the Nasdaq Composite added 87.65 points, or 1.13 per cent, to 7,822.15.

China sells most US treasuries in 2 years

China sold $20.45 billion in Treasuries in March, the most since October 2016, following $1.08 billion in purchases the month before. China’s stake in Treasuries fell for the first time in four months to $1.121 trillion in March, which was the lowest since May 2017 when it was $1.102 trillion. It was $1.131 trillion in February, the data showed.

Trade deficit widens to $15.3 bn in April

The trade deficit widened to a five-month high in April to $15.33 billion, as against $13.72 billion a year ago, on the back of higher oil imports at $11.38 billion, a jump of 9.26 per cent, and a 53.99% jump in gold imports to $3.9 billion.

Antony Waste plans Rs 350-cr IPO in June

Antony Waste Handling Cell, which processes almost half the garbage generated by Mumbai, will tap the capital market in June with ₹350-crore initial public offer, which will make it the first municipal solid waste management company to be listed on the bourses in the country.

FPIs sell Rs 1,142 crore worth of equities

Foreign portfolio investors (FPIs) sold Rs 1,142.44 crore worth of domestic stocks on Wednesday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 671.77 crore, data suggested.

Sensex on Wednesday

BSE Sensex ended down 204 points or 0.55 per cent lower at 37,115 with 26 of out of 30 constituents in the red. Its NSE counterpart Nifty settled at 11,157, down 65 points or 0.58 per cent.

Good Morning, dear reader! Here’s something to kickstart your trading day

Good Morning, dear reader! Here's something to kickstart your trading day





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