Companies and Markets

Companies & Markets

Sensex climbs 168 pts on RIL earnings; positive global cues

The benchmark BSE Sensex climbed almost 168 points in early session today as sentiments rose with Reliance Industries' better-than-expected fourth quarter earnings numbers which were announced yesterday.

This apart, a firming trend in other Asian markets, taking strong cues from the US and European markets following Emmanuel Macron's first round presidential election win in France, boosted trading sentiments here.

Reliance beats D Street estimates with higher refining margins

Reliance Industries (RIL) on Monday beat the street estimates by posting a 12.3 per cent rise in its fourth quarter net profit at Rs 8,046 crore on the back of a higher-than-expected gross refining margin (GRM) of $11.5 per barrel.
The consolidated revenue rose 45.2 per cent to Rs 92,889 crore from Rs 63,954 crore a year earlier.
For the full year, the company recorded its highest ever annual profit at Rs 29,901 crore, 18.8 per cent higher than the previous year.

Stocks of indebted firms attract investor attention

Many smallcap stocks have registered high returns for the past 15-day period. What is driving them up is not any sudden improvement in their fundamentals, some of them in fact remain heavily indebted. They have drawn investor focus as it is anticipated that such companies would derive the benefits of current debt recast plans and the likelihood of banks taking bigger haricut on bad loans. Another reason is the recent bull run leading to rotation of excess liquidity in the system towards smallcap stocks.

Sensex up 97 pts in early trade ahead of RIL earnings

The BSE benchmark Sensex gained over 97 points in early trade today as investors took to optimistic buying ahead of Reliance Industries' quarterly earnings amid firm Asian cues.

The 30-share index was trading higher by 97.06 points, or 0.33 per cent, to 29,462.36 with sectoral indices such as realty, capital goods oil & gas, power and bank leading the recovery, gaining by up to 1.21 per cent.

The gauge had lost 57.09 points in the previous session on Friday largely on profit-booking amid mixed global cues.

All moves centred around midcap, smallcap space

The market did virtually nothing last week with the benchmark indices trading in no man’s land. The BSE Sensex lost 96.15 points to close at 29,365.50 points, while the Nifty lost 31.40 points and closed at 9,119.40 points. The BSE Midcap gained 0.955 per cent, while the BSE Smallcap was up 1.92 per cent. The entire focus of the market, and the buoyancy, is on the midcap and smallcap space.

Sensex slips 57 pts on profit booking

Benchmark Sensex fell over 57 points to end at 29,365.30 today after investors moved in to book profits amid sustained foreign fund outflows.

The 30-share index had soared about 162 points to hit a high of 29,584.34 in early deals, but surrendered gains in mid-session selling.

The broader NSE Nifty closed lower by 17 points, or 0.19 per cent, at 9,119.40 after shuttling between 9,183.65 and 9,088.75.

On a weekly basis, the BSE Sensex lost 96.15 points, or 0.32 per cent, and the Nifty 31.40 points, or 0.34 per cent, sliding for the second straight week.

Sensex climbs 162 points on renewed hope of US tax cuts

The benchmark BSE Sensex rallied around 162 points in early trade today on widespread gains as investors indulged in widening bets amid firm overseas cues.

The BSE 30-share barometer surged 161.95 points, or 0.55 per cent, to 29,584.34. The gauge had gained 103.29 points in the previous two sessions.

All sectoral indices led by oil&gas, FMCG, PSU, metal and bank were in the green, gaining up to 0.72 per cent.

Equity research platform MarketSmith launched

US-based equity research firm William O'Neil India launched its stock research platform MarketSmith India on Thursday. MarketSmith India would provide stock reports on around 3,500 BSE and NSE-listed companies along with market commentary and model portfolios to the subscribers through internet platforms like websites and Apps.
William O’Neil India focuses on individual equities, mutual funds and ETFs, besides indices across the globe.

Sensex rises 54 points on hopes of normal monsoon

Buoyed by forecast of a normal monsoon and shrugging off weak trend in global markets, the benchmark BSE Sensex rose over 54 points in opening trade today after investors took to select stock-picking.

The 30-share barometer was trading higher by 54.45 points, or 0.18 per cent, at 29,373.55 with IT, power, technology, healthcare and FMCG sector stocks leading the recovery.

The gauge had lost 469.25 points in the previous four sessions, largely in tandem with a weak trend overseas on continued geo-political concerns.

Reliance set to win back crown as most valuable stock

Reliance Industries (RIL) is set to regain the mantle as India’s most valuable company from Tata Consultancy Services, a title it lost to Asia’s top software developer in February 2013.
On Tuesday, RIL briefly regained its status as the largest company in terms of market capitalisation (m-cap). The day also saw State Bank of India toppling energy behemoth ONGC as the most valued PSU.
RIL could not retain the tag for long as its shares failed to hold on to morning gains and closed 1.5 per cent lower at Rs 1,370.5 on the BSE, giving the company an m-cap of Rs 4,45,578.92 crore.