Companies and Markets

Companies & Markets

Sensex soars 105 pts on global cues, F&O expiry

The benchmark BSE Sensex surged over 105 points and the NSE Nifty reclaimed the 8,500-mark in early trade today as traders continued buying, tracking a firm trend in other Asian bourses following record US markets' closing yesterday.

Short-covering of bets, today being the last session of January expiry in the derivatives segment, kept the overall tempo up.

The 30-share index, which had gained 341.08 points in the previous two sessions, spurted by 105.92 points, or 0.38 per cent, at 27,481.50.

Market witnesses pre-budget rally as expectations run high

A positive momentum seems to be building up in the market ahead of the budget as investors are expecting a set of announcement from finance minister Arun Jaitley that could jumpstart the economy hit by demonitisation.
The market closed at its highest level in two-and-a-half months on Tuesday on hopes of fresh economic reforms in the next week’s annual budget. Analysts are expecting the pre-budget rally to continue, mainly led by banking, capital goods and infrastructure stocks.

BSE IPO subscribed fully on day 2

BSE's over Rs 1,200 crore IPO got fully subscribed on the second day of the three-day bidding process, making it the first big IPO of 2017.
As per latest combined stock exchange data, the issue has been subscribed 1.55 times number of shares on offer after allocation of 4.62 million shares to the anchor investors.

TVS Motor net profit climbs 10.4%

Two-wheeler major TVS Motor Company has reported a 10.4 per cent increase in its net profit at Rs 132.67 crore for the quarter ended December 31, 2016, as against Rs 120.21 crore it reported in the year-ago quarter, the company said in a statement.

HDFC Bank profit growth comes down to 15% in Q3

Private lender HDFC Bank on Tuesday reported a 15 percent rise in third-quarter net profit to Rs 3,865.3 crore on the back of higher interest and fee income.
Net interest income (interest earned less interest expended) for the quarter ended December 31, 2016 grew 17.6 per cent to Rs 8,309.1 crore, from Rs 7,068.5 crore for the same quarter of last year driven by average assets growth of 18.6 per centand a net interest margin for the quarter of 4.1 per cent.

Sensex scales 258 pts to 2-month high, Nifty above 8,400

A set of strong corporate earnings numbers gave the market enough comfort as the Sensex soared by over 258 points today to end at 27,376, a two-month high, with covering of short positions ahead of derivatives expiry making the job easier.

The big domestic trigger coming up next is Union budget, which is due on February 1.

Encouraging results from blue-chips led by HDFC Bank, Tata Communications and HCL Tech got investors going, with mood turning positive after a higher opening in Europe.

Sensex up 100 pts; Nifty tops 8,400-mark on mixed global cues

The benchmark Sensex advanced by over 100 points in early trade today, building on yesterday's recovery, as investors and domestic institutions widened their bets amid mixed global cues.

Short-covering by speculators ahead of January monthly derivatives contract expiry added to the upward move. Moreover, encouraging earnings numbers from India's fourth-largest software services exporter, HCL Technologies, too added to the cheer.

Half of BSE’s 10.79m shares taken on 1st day

BSE Ltd’s initial public offering (IPO) received positive response on the first day of bidding, with half of the total 10.79 million shares available for bidding getting subscribed.
As per combined stock exchange demand graph, the public issue was subscribed 0.50 times on the close of the first day’s bidding on Monday.
The retail category shares were subscribed 0.86 times, the qualified institutional buyers category was subscribed 0.17 time and the high net worth individual’s category was subscribed 0.12 times.
The BSE public issue closes on Wednesday, January 25.

HUL net rises 7% on exceptional gain, income declines 0.79%

The FMCG major Hindustan Unilever (HUL) on Monday reported 6.82 per cent increase in its standalone net profit to Rs 1,037.93 crore for the third quarter of FY17 on account of strong exceptional income. Hindustan Unilever (HUL) had posted net profit of Rs 971.66 crore in the October-December quarter of the last financial year.
Its exceptional income in the third quarter of 2016-17 was Rs 153.05 crore, as against exceptional expense of Rs 79.61 crore it had incurred in the same period of 2015-16.

Sensex sheds 71 pts on weak Asian cues

The benchmark Sensex fell by about 71 points to slip below the key 27,000-mark in the opening trade today, on sustained foreign fund outflows amid weak Asian cues as investors await US President Donald Trump's economic plan details.

The 30-share index was 70.92 points or 0.26 per cent lower at 26,963.58 in early trade with sectoral indices led by IT, healthcare, banking and capital goods, trading in the negative zone, falling by up to 0.78 per cent.