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March Quarter Results, Oil Prices, and Top Stocks in Action Today
Wed, 15 May Pre-Open | Monish Vora, TM Team

On Tuesday, Indian share markets snapped their 9-day losing streak and ended their trading session on a positive note.

The BSE Sensex closed higher by 228 points to end the day at 37,319. Sun Pharma and Bharti Airtel were among the top gainers.

While the broader NSE Nifty ended up by 74 points to end at 11,222.

Among BSE sectoral indices, telecom stocks gained the most by 2.8%, followed by energy stocks and capital goods stocks.

Top Stocks in Action Today

Tata Motors share price will be in focus today as the company has entered into partnership with Aaron Travels, to deploy Tigor Electric Vehicles (EVs) in Mumbai. Aaron Travels will begin its e-mobility journey to service clients while enhancing sustainability.

Tata Power share price will be in focus today as the company has signed a Memorandum of Understanding (MoU) with Mahanagar Gas to explore synergies of operation in integrated customer services, foray into emerging e-mobility business and other value-added services of common interests.

Glenmark pharma share price will also be in focus as its subsidiary - Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Esomeprazole Magnesium Delayed-Release Capsules USP, 20 mg and 40 mg.

Market participants will also track Lupin share price, Torrent power share price and Aarti Drugs share price as these companies are set to announce their Q4FY19 results later today.

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Results Corner

Just Dial share price has reported a rise of 60.6% in its net profit at Rs 625.5 million for the quarter ended March 31, 2019 as compared to Rs 389.6 million for the same quarter in the previous year.

SRF share price has reported a rise of 56.2% in its net profit at Rs 1653 million for the quarter ended March 31, 2019 as compared to Rs 1058.6 million for the same quarter in the previous year.

Inox Leisure share price has reported a fall of 16.7% in its net profit at Rs 480.7 million for the quarter under review as compared to Rs 577.1 million for the same quarter in the previous year. However, total income of the company increased by 46.8% at Rs 4840.8 million for Q4FY19.

Cera Sanitaryware share price has reported a rise of 24.3% in its net profit at Rs 380.4 million for the quarter ended March 31, 2019 as compared to Rs 306.1 million for the same quarter in the previous year.

CPI Inflation Hits 6-Month High

India's retail inflation based on Consumer price index (CPI) inched up to a 6-month high of 2.92% in April 2019 due to a spike in food prices, including vegetables, meat, fish and eggs.

The data showed that inflation was at 2.86% in March 2019 and 4.58% in April 2018. The rate of price rise in April is the highest since October 2018 when the rate was 3.38%.

Prices of vegetables rose by 2.87% against a decrease in March. However, fruit prices declined in April compared to the year-ago month.

In other news, India's Wholesale price index (WPI) inflation eased to 3.07% in the month of April 2019, as compared to 3.18% in March and 3.62% during the corresponding month of the previous year.

Jet Airways Saga

As per an article, Etihad Airways said it has offered to acquire a minority stake in the troubled cash-strapped Indian airline.

The Abu Dhabi-based airline said, Etihad has confirmed its interest to re-invest in a minority stake in Jet Airways, subject to conditions. Currently, Etihad hold 24% stake in the Indian airline.

Etihad Airways is the only shortlisted bidder to have submitted its bid. Other shortlisted bidders included TPG Capital, Indigo Partners and National Investment and Infrastructure Fund (NIIF).

Last week, State bank of India's chairman Rajnish Kumar said that two unsolicited bids were received for Jet Airways. In addition, Adi Group, a UK-based investment firm said it has already met officials of Etihad for a partnership in its bid for Jet Airways.

How this all pans out remains to be seen. Meanwhile, we will keep you updated from all the developments from this space.

US-China Trade Dispute

US President Donald Trump on Tuesday defended his trade war with China as tensions escalated this week, saying it was a model for US negotiations with other countries.

The Chinese government said, China and the US have agreed to keep talking about their trade war as US President said he thought recent discussions in Beijing would be successful.

The US Trade representative's office said it planned to hold a public hearing next month on the possibility of imposing duties of up to 25% on a further US$ 300 billion worth of imports from China.

Rising Oil Prices

Oil prices jumped on Tuesday after the world's top oil exporter Saudi Arabia said explosive-laden drones had attacked two pumping stations belonging to state oil company Aramco.

The Saudi state news agency quoted Energy Minister Khalid al-Falih as saying that Aramco had halted pumping on the East-West pipeline until the damage was evaluated, but that production and exports were continuing without disruptions.

Earlier, Saudi Arabia said that two of its oil tankers were among those attacked off the coast of the United Arab Emirates on Sunday.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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

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Stock Market Updates

Sensex Ends 228 Points Higher; Metal and Energy Stocks Witness Buying (Today's Market)

Aug 23, 2019 Closing

While the BSE Sensex closed higher by 228 points, NSE Nifty closed higher by 88 points.

INFO EDGE Plunges by 5%; BSE IT Index Up 1.1% (Today's Market)

Aug 23, 2019 03:26 PM

INFO EDGE share price has plunged by 5% and its current market price is Rs 2,019. The BSE IT is up by 1.1%. The top gainers in the BSE IT Index are TATA ELXSI (up 7.2%) and ORACLE FINANCIAL (up 4.2%). The top losers are INFO EDGE (down 5.4%) and PERSISTENT SYSTEMS (down 5.3%).

ESCORTS LIMITED Surges by 5%; BSE AUTO Index Up 1.5% (Today's Market)

Aug 23, 2019 03:20 PM

ESCORTS LIMITED share price has surged by 5% and its current market price is Rs 454. The BSE AUTO is up by 1.5%. The top gainers in the BSE AUTO Index is ESCORTS LIMITED (up 5.2%). The top losers is EICHER MOTOR (down 1.1%).

CASTROL INDIA Surges by 5%; BSE OIL & GAS Index Up 3.4% (Today's Market)

Aug 23, 2019 03:16 PM

CASTROL INDIA share price has surged by 5% and its current market price is Rs 120. The BSE OIL & GAS is up by 3.4%. The top gainers in the BSE OIL & GAS Index are CASTROL INDIA (up 5.1%) and BPCL (up 5.2%). The top losers [TOPLOSERS].

GE POWER INDIA LTD Surges by 11%; BSE CAPITAL GOODS Index Down 0.3% (Today's Market)

Aug 23, 2019 03:14 PM

GE POWER INDIA LTD share price has surged by 11% and its current market price is Rs 822. The BSE CAPITAL GOODS is down by 0.3%. The top gainers in the BSE CAPITAL GOODS Index is GE POWER INDIA LTD (up 10.7%). The top losers are ELGI EQUIPMENTS (down 0.1%) and THERMAX (down 0.2%).

VODAFONE IDEA Surges by 10%; BSE 500 Index Up 0.9% (Today's Market)

Aug 23, 2019 02:26 PM

VODAFONE IDEA share price has surged by 10% and its current market price is Rs 6. The BSE 500 is up by 0.9%. The top gainers in the BSE 500 Index are VODAFONE IDEA (up 10.1%) and STERLITE TECH. (up 13.3%). The top losers are PAGE INDUSTRIES and GSK CONSUMER (down 0.1%).

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