LIVE: The BSE Sensex and NSE Nifty opened in red on Wednesday tracking weak global cues. (Photo: PTI)
2.58 pm: For the quarter (Q2) ended September 30, 2015, HUL reported net profit of Rs 962.24 crore, down 2.62 per cent, against Rs 988.10 crore in the corresponding quarter a year ago. HUL shares were down 1.12 per cent at Rs 803.30. However, net sales of the company jumped 4.70 per cent year-on-year to Rs 7,819.64 crore. The company declared an Interim Dividend of Rs 6.50 per equity share of face value of Re 1 each for the financial year ending March 31, 2016. The dividend will be paid to shareholders on or after November 02, 2015.
2.35 pm: Shares of Hindustan Unilever (HUL) and Zee Entertainment (ZEEL) were down 0.73 per cent and 3.40 per cent ahead of July-September earnings due later in the day.
2.29 pm: Meanwhile, Vittorio Colao, CEO, Vodafone, said, “The company is positively inclined for an IPO, has initiated preparatory works.” Sensex was down 25 points 26,821.
2.16 pm: In the smallcap space, IVRCL Infra gained the most 19.80 per cent, followed by Waterbase (up 16 per cent), Lloyd Electric & Engineering (up 15.97 per cent) and Country Club Hospitality (up 15.46 per cent). The BSE Smallcap index was up 0.51 per cent at 11,454.
1.31 pm: Shares of TTK Prestige jumped over 10 per cent to Rs 4,225 a share on BSE after the announcement of Q2 results. The company reported 21.66 per cent rise in its net profit at Rs 34.04 crore for the quarter ended September 30, 2015 as compared to Rs 27.98 crore for the same quarter in the previous year. The company’s total income has increased by 10.47 per cent to Rs 423.17 crore for the quarter under review from Rs 383.06 crore for the corresponding quarter of the previous year. Sensex was down 15 points 26,832.
1.00 pm: The share price of Goa Carbon tanked over 8 per cent post Q2 numbers. For the quarter ended September 2015, the company posted net loss of Rs 2.96 crore against net loss of Rs 85.33 lakh in the corresponding quarter a year ago. The BSE Smallcap index was up 0.44 per cent at 11,446. BSE Midcap index was down 0.19 per cent at 10,936.
12.15 pm: Meanwhile, WPI inflation stood at (-)4.54 in September, from (-)4.95 per cent in August. Sensex was down 24 points at 26,822.
12.07 pm: Bharat Forge shares slid over 6 per cent intraday on Wednesday after a global brokerage house CLSA downgraded the stock from ‘buy’ to ‘sell’. Sensex was down 34 points at 26,812.
11.47 am: BSE Sensex and NSE Nifty were down 25 points and 12.45 points at 26,821 and 8,119.25. Drug majors Lupin and Boehringer Ingelheim on Wednesday announced a strategic alliance to co-market anti-diabetes drug linagliptin in India. Shares of Lupin were up 1.32 per cent at Rs 2,050 apiece.
11.11 am: Foreign Portfolio Investors (FPIs) were net buyers on Tuesday as they bought equities worth $41.84 million,Bloomberg data showed. The domestic institutions comprising of insurance companies, mutual funds and banks sold cash equities worth Rs 273.51 crore. Sensex was flat at 26,845.
11.00 am: Sensex was up 6 points at 26,853. It has been a good session for metal scrips as the BSE Metal index went up by 1.2 per cent.Shares of Hindalco climbed 4.6 per cent while Vedanta scrips were trading 3.1 per cent higher. The metal shares have rallied in the last one week as international commodity prices have shown a pick-up. As per a Bloomberg report, prices of aluminium and zinc went up by 3.9 per cent and 8.6 per cent during last week while copper prices have gone up by 4.2 per cent in the London Metal Exchange during the week. The price of crude oil crossed $50 per barrel mark heading towards biggest weekly gain in the last three months.
10.15 am: Shares of TCS, country’s largest software services firm, dropped by 3.81 per cent to Rs 2,498.50 despite reporting a 16 per cent surge in net profit to Rs 6,084.66 crore for the quarter ended September 30.
9.43 am: Among the sectoral indices on the Bombay Stock Exchange, the BSE IT index and the BSE Consumer Durables index were down 0.84 per cent and 0.61 per cent. Sensex was down 19 points at 26,827.
9.36 am: Sensex was down 35.99 points at 26810. Nifty was down 9 points at 8,122.70. DBC Bank shares were down 18.88 per cent in the early trade on Wednesday after the bank posted a fall of 10.12 per cent in its net profit at Rs 36.93 crore for the quarter ended September 30, 2015 as compared to Rs 41.09 crore for the same quarter in the previous year. However, total income of the bank has increased by 25.02 per cent at Rs 464.87 crore for quarter under review as compared to Rs 371.83 crore for the quarter ended September 30, 2014.
9.32 am: The benchmark BSE Sensex fell over 133 points in early trade on Wednesday due to selling in IT stocks after TCS’ second quarter earnings failed to impress investors. Besides, a weak trend on other Asian bourses and overnight losses at the US markets also dampened the trading sentiment here.
The BSE Sensex and NSE Nifty opened in red on Wednesday tracking weak global cues. Sensex opened 86.21 points down at 26,760.32. Nifty opened 29.30 points down at 8,102.
Traders also reacted negatively to the IT bellwether TCS numbers announced late Tuesday. The share price of IT major plunged around 2 per cent in the early trade. For the quarter ended September 30, TCS’ revenue grew 3 per cent sequentially, or 5.8 per cent year-over-year.
There will be some cheer in the steel sector, as the World Steel Association (WSA) has said that world’s third largest steel producer, is expected to grow to 81.5 million tonnes (MT) and 87.6 MT in 2015 and 2016, respectively, from 75.9 MT in 2014.
The US markets suffered sharp cuts in a volatile last session on Tuesday, pulling the Dow and the S&P 500 down, off the nearly two-month closing highs of last session, with uncertainty about the outlook for corporate results weighing down the sentiments. The Asian markets have once again made mostly a lower start, as Chinese factory-gate prices equaled their biggest slump since the global financial crisis. Japanese equities too fell as the yen rallied amid haven demand.
Back home, Tuesday’s trading session turned out to be a choppy day of trade for Indian equity benchmarks where key indices ended with marginal losses. Buying in last leg of trade mainly prevented a down day of trade at Dalal Street as markets for couple of times surrendered to selling pressure. Sentiments remained down beat after India’s retail inflation based on the consumer price index (CPI) for September increased to 4.41 per cent, from 3.74 per cent recorded for the previous month, on the back of higher food prices. Investors also remained on sidelines ahead of the September quarter results of IT-major Tata Consultancy Services (TCS), which was set to announce after market hours on Tuesday.
(With inputs from agencies)
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