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UltraTech Cement reaches its lowest level in 52 weeks after the September quarter
UltraTech Cement shares hit their lowest level in 52 weeks, or 3,488 rupees, down 3.3% from BSE, after the company announced an 11% drop in earnings consolidated net in the third quarter of September (Q2-19A), at 3.76 billion euros. , because of higher operating costs. The major cement made a profit of 4.24 billion rupees in the same quarter of the previous year. The stock has lost 6.5% over the last two trading days. Net sales in the reporting quarter increased by 20% to Rs 81.11 billion, up from Rs 67.52 billion in the previous year, driven by strong volume growth. Read more
Interview of the day The market correction could last a very long time: Deepak Ramachandra
Markets could not hold on to higher levels despite the government's efforts to stem the fall of the rupee and find a solution to the crisis at IL & FS. Deepak Ramachandra, head of sales for Indian equities at Bank of America Merrill Lynch, told Puneet Wadhwa that the Indian equity crisis was just beginning.
The money from foreign portfolio investors (REITs), he says, will not be very profitable until June 2019. Read the full interview here
Market Control
Index
Current
Pt. Change
% Change
S & P BSE SENSEX
34,422.48
+106.85
0.31
S & P BSE SENSEX 50
10.800.30
25.29
0.23
S & P BSE SENSEX Next 50
30.388.57
-21.45
-0.07
S & P BSE 100
10,554.55
19.62
0.19
S & P BSE Bharat Index 22
3,327.31
2.26
+0.07
First Quarter Results Announce Promising, Infosys, HUL and RIL Figures Encouraging
According to India Inc., the early results indicate that the earnings season has started on an optimistic note, thanks to a more satisfactory earnings growth than expected from three of the country's largest companies – Reliance Industries (RIL), Infosys and Hindustan Unilever. Tata Consultancy Services (TCS) and HDFC Bank also helped by reporting numbers largely in line with Street's expectations. Read more IMPACT ON EARNINGS The persistent system is down by almost 13% after a net profit up 7% to 880 million rupees in the second quarter
IMPACT BENEFIT HDFC Bank gains after Q2
Benchmarks are trading slightly higher, led by financials among Asian indices.
Among the sector indices, the Nifty Bank index is trading approximately 1% more, led by HDFC Bank and ICICI Bank. However, YES Bank has dropped about 3%.
Meanwhile, the rupee was trading early in the morning at $ 73.26 a dollar, while the greenback was weakening.
In the context of specific equity-specific stocks, blue chip companies such as Wipro and Bharti Airtel are expected to announce their quarterly results this week before F & O expires.
ICICI Bank, Asian Paintings, Maruti Suzuki, HCL Technologies, Dr. Reddy's Labs, Bajaj Finance, Bajaj Finserv, Bharti Infratel, Bajaj Auto, Kotak Mahindra Bank, Yes Bank, UPL and ITC are among the other companies announced to publish their number the week.
GLOBAL MARKETS
Asian markets reduced their losses after Chinese stocks rose for a second session and offset geopolitical concerns over Saudi Arabia, Italy and Brexit.
Shanghai's first-rate deals rose 3.5% in Shanghai, extending Beijing's renewed commitment to the economy and business.
The broadest MSCI share of Asia-Pacific stocks outside Japan edged up 0.2%. Japan's Nikkei lost 0.2%, after losing more than 1% earlier, as did South Korean equities.
This week is the peak season of the US earnings season. Reporting companies include Amazon, Alphabet, Microsoft, and Caterpillar.
(with Reuters entries)
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