Rupee ends 61 paise lower at 70.52 per dollar

The Indian rupee ended near day's low on May 13 as it slipped 61 paise at 70.52 per dollar versus previous close 69.91.

The domestic currency ended at lowest level against dollar since March 1, while it has posted biggest single session fall against dollar since April 4.

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, said Motilal Oswal.

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.

ITC Q4 review: Cigarette volume play, broader growth levers positive; accumulate

ITC’s Q4 operating sales grew 13.3 percent YoY (year on year), buoyed by strong top line growth across segments. A key takeaway is better than expected volume growth in the cigarette business, which is estimated at 7-8 percent.

EBITDA margins, however, contracted by 103 bps on account of higher cost of goods sold and rise in employee costs.

Segmental margins in cigarette and hotels businesses were lower than last year while there was a significant improvement in margins for FMCG (others) and paperboard business. The company highlighted that FMCG (others) EBITDA margin is 7 percent  as against 5.7 percent in Q4 FY18 – still a long way off the frontline FMCG benchmarks, but fast improving.

While net profit has grown nearly 19 percent, this includes a net gain on restructuring of the Lifestyle retailing business, consisting of sale proceeds of John Players trademark/copyright amounting to Rs 70.5 crore.

Source:https://www.moneycontrol.com/news/business/moneycontrol-research/itc-q4-review-cigarette-volume-play-broader-growth-levers-positive-accumulate-3967011.html

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Closing Bell: Nifty fails to hold 11,300, Sensex falls 95 points; SBI gains 2% post Q4

Market Close: The market registered eighth consecutive day fall on May 10 with Nifty ended below 11,300.

At close, the Sensex was down 95.92 points at 37,462.99, while Nifty was down 22.90 points at 11,278.90. About 1187 shares have advanced, 1270 shares declined, and 162 shares are unchanged. 

Tata Steel, HCL Tech, Yes Bank, IndusInd Bank and IOC were among major losers on the Nifty, while gainers include Zee Entertainment, Titan Company, Bharti Airtel, SBI and Indiabulls Housing.

Metal, IT, pharma, energy, FMCG and auto witnessed selling pressure, while some buying seen in the banks and infra sectors. Midcap and smallcap index ended with marginal gains.

Source: https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-fails-to-hold-11300-sensex-falls-95-points-sbi-gains-2-post-q4-3955501.html

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SBI reports Q4 profit of Rs 838 crore; asset quality improves

State Bank of India (SBI) has reported net profit of Rs 838.4 crore for the quarter ended March 31, 2019 on the back of higher provisions. The bank had reported loss of Rs 7,718 crore in a year ago period.

Its operating profit was up 6 percent at Rs 16,933 crore versus Rs 15,883 crore, YoY.

The net interest income (NII) of the bank rose 14.9% to Rs 22,954 crore versus Rs 19,974 crore.

The company's gross NPA was down at 7.53 percent against 8.71 percent, while net NPA was down at 3.01 percent versus 3.95 percent, QoQ.

In absolute terms, the gross NPA was down to Rs 1.72 lakh crore from Rs 1.88 lakh crore, while net NPA was at Rs 65,895 crore against Rs 80,944 crore, QoQ.

The bank's provision coverage ratio was at 78.73% versus 74.6%. Provisions for NPAs was at Rs 17,336 crore versus Rs 13,971 crore in the previous quarter and Rs 24,080 crore in the corresponding quarter of last year.

The bank has made a provision of Rs 3,984 crore (Total Rs 5,643.41 crore) for the year ended March 31, 2019 towards arrears of wages due for revision w.e.f November 1, 2017.

State Bank of India was quoting at Rs 299.45, up Rs 0.20, or 0.07 percent on the BSE.

Source: https://www.moneycontrol.com/news/business/earnings/sbi-reports-q4-profit-of-rs-838-crore-asset-quality-improves-3957191.html

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Sensex, Nifty open higher; HCL Tech, Voltas decline 3%

Market opens: It is a flat higher for the market on the last trading day of the week with Nifty around 11,330 level.

At 09:17 hrs IST, the Sensex is up 138.45 points at 37697.36, while Nifty is up 31.30 points or 0.28% at 11333.10. About 457 shares have advanced, 181 shares declined, and 22 shares are unchanged. 

Zee Entertainment, ICICI Bank, Yes Bank, RIL, SBI, Tata Steel, TCS are among major gainers on the indices, while losers are Asian Paints, Voltas, IOC, Wipro, HCL Tech, Infosys, Mahanagar Gas and Berger Paints.

On the sectoral front, IT and FMCG are trading marginally lower, while metal, pharma, auto and bank are witnessing buying interest.

Source:https://www.moneycontrol.com/news/business/markets/market-live-sensex-nifty-open-higher-hcl-tech-voltas-decline-3-3955501.html

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Closing Bell: Nifty ends at 11,300, Sensex falls 230 pts; RIL down 3% on MS downgrade

Market close: It is another weak closing for the Indian stock market as benchmark indices finished lower for seventh straight day. Nifty broke the 11,300 level during intraday and touched a low of 11,255.05.

At close, the Sensex was down 230.22 points at 37558.91, while Nifty was down 57.70 points at 11301.80. About 1074 shares have advanced, 1370 shares declined, and 150 shares are unchanged. 

Top losers on the Nifty were Reliance Industries, BPCL, Coal India, Asian Paints and NTPC, while gainers include Zee Entertainment, Yes Bank, Bajaj Finserv, Bajaj Finance and Hero Motocorp.

Among sectoral indices metal, infra, energy, pharma and bank ended in red, while some buying seen in the IT and FMCG.

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Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-at-11300-sensex-falls-230-pts-ril-down-3-on-ms-downgrade-3950211.html

Nifty breaks 11,300, Sensex falls over 150 pts; RIL top loser

Market opens: It is weak start for the benchmark indices on May 9 with Nifty opened around 11,300 level.

At 09:17 hrs IST, the Sensex is down 150.24 points at 37638.89, while Nifty down 39.70 points at 11319.80.

Yes Bank, Adani Ports, BPCL, UPL, Grasim, Gail, Cipla, HDFC, Power Grid and RIL are trading lower, while on the other hand Hindalco, Britannia, Wipro, IOC, Coal India and Hero Motocorp are among major gainers.

Among sectors, except metal all other sectors are trading lower.

Source:https://www.moneycontrol.com/news/business/markets/market-live-nifty-hovers-around-11300-sensex-falls-over-150-pts-ril-top-loser-3950211.html

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