Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex Ends Day Marginally Higher; Tata Steel Surges 3.5%
Thu, 19 Apr Closing | Parth Parekh, TM Team

After opening the day in green, share markets in India witnessed volatile trading activity throughout the day and ended the day in green. Sectoral indices were mixed, with stocks in the metal sector and stocks in the capital goods sector leading the gains.

At the closing bell, the BSE Sensex stood higher by 95 points (up 0.3%) and the NSE Nifty closed up by 39 points (up 0.4%). The BSE Mid Cap index ended the day up 0.7%, while the BSE Small Cap index ended the day up by 0.6%.

Asian stock markets too finished in green. As of the most recent closing prices, the Hang Seng was up by 1.4% and the Shanghai Composite was up by 0.9%. The Nikkei 225 was up by 0.2%. Meanwhile, European markets were trading on a mixed note. The FTSE 100 was up by 0.1%, The DAX, was down by 0.1% while the CAC 40 was up by 0.2%.

The rupee was trading at Rs 65.74 against the US$ in the afternoon session. Oil prices were trading at US$ 68.79 at the time of writing.

In news from stocks in the banking sector. Indusind Bank share price ended the day on a dull note after the bank declared its results for the quarter ended 31 March 2018 (Q4).

--- Advertisement ---
A Proven Way to Profit from This Market Crash

The news might tell you that it is time to panic and start selling your stocks.

But how would you feel if we told you that there is a proven way to profit from these uncertain times?

Well, we have discovered 5 Safe Stocks that could potentially profit from this market meltdown.

We are sure you are intrigued.

Click here to find out which stocks we are talking about.
------------------------------

Indusind Bank's Q4 net profit jumped over 26.7% yoy to Rs 9.53 billion backed by a stable asset quality.

Net profit for the year 2017-18 rose by a similar 26% to Rs 36.1 billion compared with Rs 28.7 billion in 2016-17.

IndusInd Bank, which is the sixth largest private sector lender, also reported a 20% increase in net interest income at Rs 200 billion in the fourth quarter.

For the whole of 2017-18, its net interest income grew 24% to Rs 749.7 billion.

Meanwhile, gross bad loans as a percentage of total loans stood at 1.17% at end-March, compared with 1.16% in the previous quarter and 0.93% a year earlier.

Indusind Bank share price ended the day down by 0.6%.

Top Performing Stocks Can Give No Returns for Years

The history of top performing stocks further emphasises the need for patience. Top performing stocks from the indices have gone through a period where there have been no returns for a long time.

In fact, the best performing stocks in the Indian market have gone through a period of two to four years without giving any return whatsoever.

Stocks like HDFC Bank known as an 'evergreen buy' had periods where investors had to wait for more than 800 days to get any return. Similarly, Indusind Bank had to wait well over 1800 days to move the ticker.

But patience has definitely paid off for such investors. Even including the 800 odd days of no return, the stock of HDFC Bank has delivered a 27% annualised return for more than a decade, while Indusind managed 40% annualised over the same period.

Moving on to news from the steel sector. Tata Steel share price was in focus today after a leading financial daily reported that the Tata Group company is likely to acquire a 75% stake in debt ridden Bhushan Steel.

Tata Steel plans to acquire three-fourths of Bhushan Steel's share capital by an equity infusion in it while lenders would also raise their stake by converting a part of the outstanding loans into stock.

The company will be paying Rs 1.8 billion to acquire 75% of the paid-up share capital by issuing 1.2 billion new shares as part of its plan to salvage the debt-laden steel company.

Tata Steel will also have room to buy an additional 45 billion at Rs 2 a piece that may take its holding to 98%. The issue of new shares will take the total share outlay to 5.3 times the existing number of scrips.

Lenders who already hold 6.5% by way of shares pledged to them by the promoters, will also add another 6.5% to their kitty by converting Rs 15 crore of loans into equity. In the event of additional purchase of shares by Tata Steel, the remaining 2% will be held between lenders, shareholders and promoters.

However, if Tata Steel chooses to not exercise its right to buy additional shares, Bhushan Steel's shareholding pattern will feature 75% to Tata Steel, 13% to lenders, 10% to public and remaining 2% to promoters.

For the quarter ending March 2018, the promoter and promoter group held 43.9% of the share capital, down from 57.82% at the end of December.

The rest was held by public whose shareholding increased from 42.18% in December to 56.1% for March. The intrinsic value of shares in a distressed asset becomes zero after the announcement of haircuts by secured lenders.

Following the news, Tata Steel share price ended the day up by 3.4%.

And here's a note from Profit Hunter:

The metal sector is trailblazing up the charts today. The Nifty metal index is up 5%. All its constituents are trading in the green. Hind copper (+12%), Hindalco (+9%), and Nalco (+9%) are the top gainers in the index.

The last time we reviewed Nalco, it had broken below the head and shoulder pattern and experienced a pullback rally to the neckline of the pattern.

The neckline usually acts as a resistance post break out. As a result, the stock slipped nearly 20% to touch a low of 61 in less than a month.

But the stock found a strong support from the horizontal support line placed at 60. It bounced up from this support and rallied nearly 48% to touch a high of 90 in today's session. It also broke above the falling trendline (blue line) indicating strength.

So given the strong momentum, can the stock make a new 52-week high? Let's wait and watch...

National Aluminum Roars 8% for the Day
National Aluminum Roars 8% for the Day 

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Sensex Ends Day Marginally Higher; Tata Steel Surges 3.5%". Click here!

  

Stock Market Updates

Sensex Ends 441 Points Lower; Nifty Settles Below 15,000-Mark (Today's Market)

Mar 5, 2021 Closing

Indian share markets end lower with the Sensex down by 441 points and the Nifty ending down by 143 points.

GRINDWELL NORTON Share Price Down by 5%; BSE CAPITAL GOODS Index Down 1.5% (Today's Market)

Mar 5, 2021 03:30 PM

GRINDWELL NORTON share price is trading down by 5% and its current market price is Rs 950. The BSE CAPITAL GOODS is down by 1.5%. The top gainers in the BSE CAPITAL GOODS Index are V GUARD INDUSTRIES (up 3.3%) and AIA ENGINEERING (up 0.3%). The top losers is GRINDWELL NORTON (down 5.1%).

ADITYA BIRLA CAPITAL Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:28 PM

ADITYA BIRLA CAPITAL share price is trading down by 5% and its current market price is Rs 131. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 7.3%) and MOTILAL OSWAL (up 5.9%). The top losers are ADITYA BIRLA CAPITAL (down 5.0%) and APOLLO HOSPITALS (down 5.2%).

HAVELLS INDIA Share Price Down by 5%; BSE CONSUMER DURABLES Index Down 0.7% (Today's Market)

Mar 5, 2021 03:20 PM

HAVELLS INDIA share price is trading down by 5% and its current market price is Rs 1,163. The BSE CONSUMER DURABLES is down by 0.7%. The top gainers in the BSE CONSUMER DURABLES Index are BLUE STAR (up 1.7%) and CROMPTON GREAVES CONSUMER ELEC. (up 1.3%). The top losers is HAVELLS INDIA (down 5.1%).

BALMER LAWRIE Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:18 PM

BALMER LAWRIE share price is trading down by 5% and its current market price is Rs 148. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.8%) and MOTILAL OSWAL (up 6.1%). The top losers are BALMER LAWRIE (down 5.0%) and APOLLO HOSPITALS (down 5.5%).

TRENT Share Price Down by 5%; BSE 500 Index Down 1.3% (Today's Market)

Mar 5, 2021 03:16 PM

TRENT share price is trading down by 5% and its current market price is Rs 936. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.6%) and MOTILAL OSWAL (up 6.1%). The top losers are TRENT (down 5.4%) and APOLLO HOSPITALS (down 5.5%).

View More Indian Share Market News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps(Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market(Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

The Hidden Tesla in My Great Indian Wealth Project(Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...

Gold 65,000 and Silver 84,000 in 2022

Feb 26, 2021

In this episode of the Investor Hour, India's #1 trader, Vijay Bhambwani, talks to us about the stock market, his new targets for gold and silver, the best long-term investment opportunity, and a lot more.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Mar 5, 2021 (Close)

MARKET STATS