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Sensex Gains 300 Points; Hero MotoCorp & Maruti Suzuki Top Gainers
Tue, 15 Oct 12:30 pm | Monish Vora, TM Team

Share markets in India have extended early morning gains and are presently trading higher. Signs of easing trade tension between the US and China provided some respite to investors globally.

The BSE Sensex is trading up by 303 points (up 0.8%), while the NSE Nifty is trading up by 83 points (up 0.7%). The BSE Mid Cap index is trading up by 0.4% and the BSE Small Cap index is trading up by 0.1%.

Sectoral indices are trading on a mixed note with stocks in the automobile sector and power sector witnessing buying interest, while telecom stocks and metal stocks are witnessing selling pressure.

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Speaking of Indian stock markets, volatile markets and some recent economic numbers have confused investors.

In the video below, Tanushree Banerjee decodes a few economic myths and reveals three big trends of Rebirth of India.

Tune in...

Moving on, market participants are tracking ACC share price, Wipro share price and SBI Life Insurance share price as these companies are set to announce their September quarter (Q2FY20) results later today.

You can also read our recently released Q2FY20 results: Infosys, TCS, IndusInd Bank, Bajaj Consumer Care.

In news from the banking sector, Canara Bank has slashed deposit rates by 0.25 percentage points with effect from October 15, 2019. The present interest rate on savings bank deposits will be revised with effect from October 15, 2019.

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For outstanding balances of less than Rs 5 million, depositors will earn 3.25% interest, while for outstanding balances of Rs 5 million and more, the interest rate will come down to 3.75%.

Canara Bank share price is presently trading down by 0.4%.

Meanwhile, private lender Yes Bank on Monday offloaded 6.6% stake in Fortis Healthcare for Rs 6.5 billion through an open market transaction.

According to the bulk deal data available on the exchange, the lender sold 4,95,19,990 shares amounting to 6.56% stake of Fortis.

The shares were offloaded at an average price of Rs 130.3. Eastspring Investments was one of the buyers that purchased the shares of the healthcare company.

In June, Yes Bank had sold a little over 2% stake in the company. After the deal, Yes Bank's stake reduced to 6.8% as prior to the sale the lender had around 8.8% stake.

Note that Yes Bank had become Fortis's biggest shareholder with an approximate 17% stake, after it and other lenders in March 2018 called in the shares that had been put up as collateral by founders Malvinder Singh and Shivinder Singh.

Yes Bank share price is presently trading up by 1.3%.

Speaking of Yes Bank, Ankit Shah shares an interesting observation in the private sector bank's shareholding pattern over the last one year.

Here's what he wrote about it in a recent edition of The 5 Minute WrapUp...

  • What I found made me nervous and worried - individual investors have been the worst hit by the Yes Bank share price crash.

    The chart shows the number of shares held by individual shareholders holding nominal share capital up to Rs 1 lakh.
Yes Bank Crash: Who's Been the Worst Hit?

As you can see, the total shares held by individual shareholders holding nominal share capital up to Rs 1 lakh increased from 14.5 crore shares at the end of June 2018 to 43.4 crore at the end of June 2019. That's a drastic 200% jump in just one year.

Even the total number of individual shareholders that held Yes Bank shares increased by 195% from 3.76 lakh at the end of June 2018 to 11.08 lakh at the end of June 2019.

The key takeaway here for all individual investors is to not confuse the cheapness in share price for cheapness in valuations. Do not blindly buy shares of battered stocks expecting them to rebound to their earlier levels.

Moving on to news from the FMCG sector, Hindustan Unilever (HUL) on Monday posted a 21% year-on-year (YoY) rise in its net profit at Rs 18.5 billion. The company had reported a profit after tax of Rs 15.3 billion in the corresponding quarter last year.

The volume growth for the company rose 5% for the September quarter, as compared to a 10% growth in the year-ago quarter.

Revenues for the quarter stood at Rs 98.5 billion, up 6.7% YoY over Rs 92.3 billion in the same quarter last year.

EBITDA (earnings before interest, taxes, depreciation, and amortization) for the quarter came in at Rs 24.4 billion, up 21% YoY. The firm had posted an EBIDTA of Rs 20.2 billion in the September quarter last year.

The company declared an interim dividend of Rs 11 per share.

The company also announced the appointment of Willem Uijen as Executive Director, Supply Chain and a member of the HUL Board with effect from January 1, 2020.

HUL share price is presently trading up by 1.9%.

To know more, you can read HUL's Q2FY20 result analysis on our website.

And 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

INDIABULLS REAL EST Plunges by 5%; BSE REALTY Index Down 0.9% (Today's Market)

Dec 9, 2019 03:16 PM

INDIABULLS REAL EST share price has plunged by 5% and its current market price is Rs 60. The BSE REALTY is down by 0.9%. The top gainers in the BSE REALTY Index are OMAXE LTD (up 5.2%) and MAHINDRA LIFESPACE (up 1.2%). The top losers is INDIABULLS REAL EST (down 5.1%).

QUESS CORP. LTD Plunges by 5%; BSE IT Index Down 0.9% (Today's Market)

Dec 9, 2019 03:14 PM

QUESS CORP. LTD share price has plunged by 5% and its current market price is Rs 489. The BSE IT is down by 0.9%. The top gainers in the BSE IT Index are MPHASIS (up 4.0%) and MINDTREE (up 1.2%). The top losers are QUESS CORP. LTD (down 5.4%) and INFIBEAM AVENUES (down 5.4%).

JAGRAN PRAKASHAN Plunges by 5%; BSE 500 Index Up 0.1% (Today's Market)

Dec 9, 2019 03:06 PM

JAGRAN PRAKASHAN share price has plunged by 5% and its current market price is Rs 64. The BSE 500 is up by 0.1%. The top gainers in the BSE 500 Index are VA TECH WABAG (up 14.9%) and DISH TV (up 10.1%). The top losers are JAGRAN PRAKASHAN (down 5.4%) and PNB HOUSING FINANCE LTD (down 8.4%).

BEML LTD. Surges by 5%; BSE CAPITAL GOODS Index Down 0.4% (Today's Market)

Dec 9, 2019 03:04 PM

BEML LTD. share price has surged by 5% and its current market price is Rs 1,033. The BSE CAPITAL GOODS is down by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is BEML LTD. (up 5.1%). The top losers are HAVELLS IND (down 0.2%) and SADBHAV ENGINEERING (down 0.3%).

PRESTIGE ESTATES Plunges by 5%; BSE REALTY Index Down 0.9% (Today's Market)

Dec 9, 2019 02:18 PM

PRESTIGE ESTATES share price has plunged by 5% and its current market price is Rs 326. The BSE REALTY is down by 0.9%. The top gainers in the BSE REALTY Index are OMAXE LTD (up 5.4%) and PHOENIX MILL (up 1.0%). The top losers is PRESTIGE ESTATES (down 5.3%).

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