The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented.
'Investors should keep them on their radar and invest over a longer time frame, and expect some of these companies to bite the dust.'
ICICI Bank was the top gainer in the Sensex pack, rising over 3 per cent, followed by ITC, SBI, HCL Tech, Axis Bank, Bajaj Finserv and Tech Mahindra. NSE Nifty advanced 32 points to 15,856.05.
Other gainers included Nestle India, Asian Paints, Bajaj Finance, NTPC, L&T, Axis Bank and Bajaj Auto. On the other hand, TCS, ONGC, Infosys, HDFC and SBI were among the laggards. NSE Nifty surged 121.65 points or 1.03 per cent to 11,889.40.
Last month, the National Stock Exchange witnessed 'flash crash', when the Mumbai-based brokerage Emkay Global Financial Services sent the exchange index tumbling as much as 15.5 per cent in just a few seconds, creating a panic among traders.
Despite a shaky Q3, conviction over the stock remained high, with 65 per cent of the analysts polled on Bloomberg retaining their 'buy' recommendation.
Experts believe while escalation with Pakistan might not have a significant impact on trade economics, both India and China have major trade and investments in each others' economies. While the dispute might continue, it could have a temporary effect on the markets.
After unseasonal rains, supply disruptions and pandemic-induced woes pushed retail inflation well over the Reserve Bank's comfort zone in 2020, the scenario is likely to stay that way at least in the short term as economic recovery slowly gains foothold. For most part of this year, pricier food items pushed the retail inflation, based on Consumer Price Index (CPI), higher in the range of 6.58-7.61 per cent, except for March when the reading was 5.91 per cent. Experts believe retail inflation is likely to average around 6.3 per cent this fiscal and mostly will remain sticky going forward owing to pick-up in demand across sectors.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
The sudden movement of the rupee - post the monetary policy - is not a reason to panic, said currency dealers. According to them, a correction was overdue for the rupee that remained the best performing currency in the region for well over a month. The rupee closed at 74.72 a dollar on Friday from its previous close of 74.60. It had dropped 1.52 per cent against the dollar on April 7 after the Reserve Bank of India (RBI) announced its monetary policy, committing to buy Rs 1 trillion of bonds in the June quarter. A weak rupee goes well with the export narrative of the government, and is consistent with the RBI's intervention strategy that prevented an appreciation.
Spiralling prices pinched the pocket of consumer as edible oil, fuel and many other commodities turned dearer this year amid pandemic-induced disruptions but the inflationary pressure is anticipated to ease, though marginally, in the coming months. As consumers, at retail as well as wholesale levels, are willy-nilly learning to live with the new normal of curbs to contain the spread of coronavirus infections, experts are of the view that elevated inflation is likely to stay longer. After dealing with the devastating blows from the second COVID wave, especially during the April-June period, the economy is well on the revival path but the emergence of Omicron might unsettle the recovery trajectory in the short term.
Its production declined for the third consecutive year in financial year 2020-21 (FY21) to an 11-year low, while sales volume contracted for the second year to the lowest since FY15. The company manufactured around 1.08 million vehicles last fiscal, a decline from 1.17 million the previous year, and a steeper fall from its all-time high tally of 1.62 million reported in FY18.
Many investors, who have made money in the rising market of the recent past, are pulling out of equity funds, believing that they can earn more by investing directly.
Pessimism largely emanates from the fact that the volume outlook for FY20 isn't encouraging at the moment.
Inflation print for food articles, as a basket, remained nearly flat at 7.47 per cent during the month.
India's industrial production grew by 1 per cent in December, official data showed on Friday. According to the Index of Industrial Production (IIP) data, the manufacturing sector output grew by 1.6 per cent in December 2020.
The broader NSE Nifty fell 78.75 points, or 0.70 per cent, to close at 11,234.55.
Lifting of deposit withdrawal moratorium on March 18 could open flood gates and will require a calibrated approach along with active support and signaling from the RBI, government and investor banks.
The regulator, which is already working on new guidelines to avoid repeat of such incidents, is also investigating whether the flash crash of over 15 per cent could have been avoided or contained at an earlier stage by the exchange.
The decline is attributed to lower salary growth and a rise in households' financial liabilities.
Infosys was the top gainer in the Sensex pack, rallying around 7 per cent, followed by TCS, IndusInd Bank, ONGC, HDFC Bank and HCL Tech. On the other hand, ITC, Bajaj Finance, Kotak Bank and Sun Pharma finished in the red.
There will be pressure on the fiscal situation, especially at a time when the monsoon can also disappoint. More populist expenditure is on cards if the mandate is a hung Parliament or a coalition government.
Equity investors grew richer by Rs 32.49 lakh crore in 2020 on the back of smart returns in the stock market which had a roller-coaster ride during the year hit by the coronavirus pandemic. The COVID-19 outbreak ravaged lives and livelihoods on a global scale, shuttering businesses and jolting world equities. But amid all the gloom, Indian stock indices gave hope of returning to winning ways towards the latter part of the year.
Use the opportunity to increase equity exposure because these are short-term blips.
Top losers in the Sensex pack included Tata Steel, Vedanta, Maruti, SBI, Coal India, Tata Motors, Sun Pharma, HUL, RIL, IndusInd Bank, Axis Bank, HDFC duo, ICICI Bank, M&M, Kotak Bank, and Infosys, falling up to 2.89 per cent.
Top losers in the Sensex pack included Yes Bank, Vedanta, IndusInd Bank, Tata Steel, L&T, SBI, NTPC, Kotak Bank, HDFC, HDFC Bank, PowerGrid, Infosys and ITC, falling up to 4.18 per cent.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
'Quality of management, corporate governance, allocation of capital, full disclosures should form the basis to decide investing in a particular stock.'
Dhananjay Sinha, co-head, institutional research, Emkay Global Financial Services tells Business Standard in an interview that even as global commodity prices have softened in response to expectations of weaker global demand, the stronger performance of equities is seemingly pre-empting stronger growth.
According to JP Morgan, it seems that Jio is willing to go for the jugular in chasing market share if this hurts some of its standing rivals like Vodafone and Idea to a point from where they find it difficult to fight back.
The inflation in the food basket spiked to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month.
From the 30-share basket, 28 scrips suffered losses. Over 200 stocks were at their 52-week low in Tuesday's trade.
Total income of Wipro was almost flat at Rs 15,571.4 crore at the end of the first quarter of 2020-21 compared to Rs 15,566.6 crore in the corresponding quarter of the fiscal year 2019-20.
Combined net profit estimated to grow 14.6% year-on-year, against a 5.7% decline in the Dec 2015 quarter
The regulator has asked portfolio managers not to leverage the portfolio of clients for investment in derivatives and not indulge in speculative transactions that are not accompanied by actual delivery, except for derivatives trades. This is done with the intention of reducing volatility in the market and curbing undue risks.
Check out some of the stocks that will react on the basis of their numbers in the near term.
'Investors should plan and make investments strictly on the basis of their risk profile.' 'They should not bite more than they can chew.'
Among other segments, home broadband subscriptions have picked up and the virtual private network service, too, increased by around 15 per cent.
The ruling BJP losing Chhattisgarh, Madhya Pradesh and Rajasthan, or being able to retain power only in Chhattisgarh may result in a "sharp correction" in the indices
Market regulator Sebi has begun initial probe into the 'flash crash' of NSE index Nifty, which fell by nearly 900 points this morning, halting the trade on the exchange for about 15 minutes.
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