Market Opens :
It is weak start for the week as benchmark indices opened lower on May 13 with Nifty around 11,250.
The Sensex is down 69.91 points at 37393.08, while Nifty is down 27 points at 11251.90. About 295 shares have advanced, 398 shares declined, and 46 shares are unchanged.
Tata Steel, Hindalco, Eicher Motors, Dr Reddy's Lab Grasim Industries and Indiabulls Housing are among major losers on the indices, while gainers are TCS, SBI, Wipro, HCL Tech and Tech Mahindra.
Except FMCG and IT all other sectoral indices are trading in red.
Rupee Opens :
The Indian rupee slipped in the early trade on Monday. It opened lower by 23 paise at 70.14 per dollar versus previous close 69.91 yesterday.
Rupee remained under pressure as uncertainty following trade tensions between US and China escalated. US President ordered to begin the process of imposing tariffs on all remaining imports from China, underscoring a lack of progress by US and Chinese negotiators. It said Beijing was open to talks but would not yield on important issues of principle. It is expected that leaders of both the economies could meet at the G20 summit scheduled in Japan in late June.
On the domestic front, India’s industrial production number was released; data showed the industrial output declined 0.1% thereby keeping the rupee under pressure.
Today, USD-INR pair is expected to quote in the range of 69.7 and 70.50
Global Markets :
Asian markets trade lower :
US stock futures fell and Asian shares slipped on Monday on growing uncertainty over whether the United States and China will be able to reach a deal to end their escalating trade war.
SGX Nifty :
Trends on SGX Nifty indicate a negative start for the broader index in India, a fall of 33 points or 0.29 percent. Nifty futures were trading around 11,250.50-level on the Singaporean Exchange.
Wall Street ends higher :
US stocks rebounded from early losses on Friday to snap a four-day losing streak after US President Donald Trump and Treasury Secretary Steven Mnuchin said trade talks between the United States and China were “constructive.”
Crude update :
Oil futures were mixed on Monday, with US crude edging lower, as investors and traders fretted over global economic growth prospects amid a standoff in Sino-US trade talks.
Domestic Market :
Results Today :
ITC, HDFC, Andhra Bank, Automotive Axles, Balkrishna Paper Mills, Borosil Glass Works, Capacite Infraprojects, Godrej Industries, Vodafone Idea, Karnataka Bank, Just Dial, Metropolis Healthcare, MRPL, MT Educare, Muthoot Finance, OBC, Shemaroo Entertainment, SRF, Subex, Trident, United Bank of India
Here are the stocks that are in news today :
Allahabad Bank Q4 : Net loss at Rs 3,834 crore versus loss of Rs 3,510 crore, NII up 41.6% at Rs 1,258 crore versus Rs 888.3 crore, YoY.
GSK Consumer Q4 : Net profit up 34.9% at Rs 29 crore, revenue up 9% at Rs 1,286.1 crore
Relaxo Q4: Net profit up at Rs 54 crore versus Rs 53 crore, revenue up 15.5% at Rs 635.7 crore versus Rs 550.4 crore, YoY
Vakrangee Q4: Net profit down 91.5% at Rs 6.5 crore versus Rs 76 crore, revenue down 94.5% at Rs 101.5 crore versus Rs 1,846.9 crore, YoY
Asian Hotels Q4: Net profit down 4.3% at Rs 3 crore versus Rs 3.2 crore, Revenue up at Rs 29.8 crore versus Rs 25.4 crore, YoY
Oberoi Realty Q4: Net profit up 9% at Rs 155.7 crore versus Rs 142.9 crore, revenue up 66.2% at Rs 573 crore versus Rs 345 crore, YoY
V-Mart Retail Q4: Net loss at Rs 0.9 crore versus Rs 15.9 crore, revenue up 15.9% at Rs 344.5 crore versus Rs 297.3 crore, YoY
Chalet Hotels Q4: Consolidated net profit at Rs 13.3 crore versus loss of Rs 92.8 crore, revenue down 66% at Rs 269.8 crore versus Rs 795.5 crore, YoY
Tata Investment Q4: Net profit up 25.2% at Rs 18.8 crore vesus Rs 15 crore, revenue down at Rs 24.9 crore versus Rs 25.3 crore, YoY
P&G Health Q4: Net profit up 79.3% at Rs 40.7 crore versus Rs 22.7 crore, revenue up 16.6% at Rs 231 crore versus Rs 198 crore, YoY
Eicher Motors Q4: Net profit up 18.1% at Rs 544.8 crore versus Rs 461.5 crore, revenue falls at Rs 2,500.1 crore
Avenue Supermarts Q4: Net profit up 21.4% at Rs 202.9 crore, revenue up 32.1% at Rs 5,033.4 crore.
ITC chairman and non-executive director Y C Deveshwar passes away
Gail completes awards worth Rs 10,500 crore for line pipe supply and laying
SRF signed a business transfer agreement with DSM India for divestment of Engineering Plastics Business
Shriram Transport - CRISIL assigned CRISIL PP-MLD AA+r/Stable for Rs 500 crore long-term principal protected market linked debentures
LIC Housing Finance appoints Sudipto Sil as chief financial officer w.e.f May 10
UPL invested Rs 9.24 crore in Allfresh Supply Management for 26.75% stake
Moody’s, initiated the corporate family rating of Indiabulls Housing Finance at Ba1 with stable outlook
NCLT pronounced scheme of amalgamation of Welspun Pipes with Welspun Corp
L&T has considered and approved a scheme of arrangement for merger of L&T Shipbuilding with the company
Oberoi Realty recommended final dividend of Rs 2 per equity share
Adani Green commissioned 50 MWac solar power project in the state of Uttar Pradesh
Torrent Pharma recalls over 8.82 lakh bottles of hypertension drug from US, Puerto Rico - PTI
Relaxo Footwears recommended issue of bonus shares in the ratio of 1:1
PC Jeweller board approved the sScheme of arrangement for demerger of export division
IDFC First Bank approved issue of debt securities up to an amount not exceeding Rs 5,000 crore.
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