Companies and Markets

Companies & Markets

Nifty hits 9,900 mark, Sensex at new high post Infy results

The benchmark Nifty today raced past the 9,900 milestone for the first time and the Sensex climbed yet another peak 32,110 as Infosys maintained its 2017-18 revenue growth guidance.
IT, healthcare, consumer durables, oil and gas stocks were among the big gainers. Asian cues remained mixed though.
The 50-issue Nifty crossed the 9,900 level for the first time by gaining 21.60 points, or 0.21 per cent, to trade at an all-time high of 9,913.30, within striking distance of 10,000. It surpassed its previous intra-day high of 9,897.25 touched yesterday.

NCLT notice to Bhushan Steel as insolvency process begins

The National Company Law Tribunal (NCLT) on Thursday issued notices to Bhushan Steel and Bhushan Steel and Power over insolvency proceedings initiated by their lenders State Bank of India and Punjab National Bank. The principal bench of the NCLT headed by its president justice MM Kumar has directed Bhushan Steel and Bhushan Steel and Power to file their reply. The tribunal has posted the matter for the next hearing on July 19.

DIIs are stars in this bull market

The benchmark BSE Sensex breached the psychological mark of 32,000-level for the first time on Thursday, much to the joy of investors. Contrary to the popular belief that foreign investors have propelled the index to dazzling heights, it is the domestic institutional investors (DIIs), who have played the anchor role in Sensex zooming past this all-time high level.

TCS net profit falls 5.9% in Q1, misses estimates

Hit by currency fluctuations and continued sluggishness in BFSI and retail businesses, India’s largest software services exporter Tata Consultancy Services on Thursday reported a 5.9 per cent drop in net profit to Rs 5,945 crore in the first quarter of FY18.
The company’s revenue rose a paltry 1 per cent to Rs 29,584 crore during the period, much below the street expectations.
The currency-wage double whammy shaved off the IT giant’s operating margins by 2.30 percentage points to 23.4 per cent, missing the 26-28 per cent target.

Market poised for RECORD INFLOWS

The Indian stock market could see record inflows from domestic and foreign institutional players this year.
Experts say both FPI and domestic mutual funds are flushed with funds. Domestic asset management companies (AMCs) have seen an inflow of over Rs 28,000 crore into their equity funds in April-June 2017, a surge of nearly three times the flow of the year-ago period, underscoring the growing investor confidence in the market.

High leverage a cause of concern for markets

Even as the market is touching new highs, the leverage ratios of Indian companies is not as enthusing. Our survey based on annual interim financials of 2,300 companies show that for the second year in a row, there has been progress, albeit modest, in deleveraging corporate balance sheets.

Sensex breaches 32k-mark, Nifty at a fresh high too

Breaking boundaries, the benchmark Sensex breached the 32,000 mark for the first time and the NSE Nifty hit a new peak of 9,879 today on strong buzz that a policy rate cut may be on the anvil after inflation touched a "record low".
A positive lead from Asia after US Federal Reserve chief indicated a gradual approach to raising US interest rates made investors here go in for fresh bets.
The 30-share index zoomed 215.60 points, or 0.67 per cent, to hit a new peak of 32,020.42, surpassing previous intra-day record of 31,885.11 reached on July 11.

Sensex at new record high,Nifty tops 9,800 ahead of macro data

The benchmark Sensex today advanced by 57 points to end at all-time high of 31,804.82 and the Nifty closed above the 9,800-mark for the first time as banking, oil & gas and auto stocks advanced.
Optimistic buying in blue-chip stocks ahead of release of industrial production data for May and retail inflation for June drove stocks higher.
The BSE Sensex had opened on a better note at 31,813.24 and rose to the day's high of 31,865.69 in early trade. However, some profit booking in recent gainers pulled the index down to a day's low of 31,731.43 points.

Sensex climbs 73 pts, Nifty tops 9,800-mark

The benchmark Sensex advanced over 73 points and the Nifty reclaimed the 9,800 level as investors looked forward to release of key macroeconomic data due today amid a mixed trend in Asia.
The 30-share index went up 73.03 points, or 0.23 percent, at 31,820.12. The gauge gained 386.45 points in the previous two sessions to close at a fresh record high of 31,747.09 yesterday.
All the sectoral indices led by oil and gas, realty, PSU, bank and auto turned green.
The NSE index Nifty recaptured the key 9,800 mark by rising 27.10 points, or 0.27 percent, at 9,813.15.

NSE likens outage to black swan event

After the cataclysmic events at NSE, which rattled the investor community on Manic Monday, the NSE operated normally on Tuesday, a day after a technical glitch caused a three-hour disruption in trading, but harried traders demanded the country’s biggest exchange to quickly take measures to prevent a recurrence. Fortunately, all trading systems at the NSE, including price quotations for individual stocks, were operating normally, with share volumes recovering and the broader NSE Nifty rising as much as 0.6 per cent to a second consecutive record high.