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Key Q2FY20 Results, BHEL Stake Sale, and Top Cues in Focus Today
Tue, 22 Oct Pre-Open | Monish Vora, TM Team

On Friday, Indian share markets traded on a positive note most of the day and ended higher.

The BSE Sensex logged total gains of 1,417 points in the past six sessions - its longest winning streak since March. Investor sentiments increased amid hopes of an economic recovery and positive global sentiments.

At the closing bell on Friday, the BSE Sensex closed higher by 246 points to end the day at 39,298. Yes Bank and Maruti Suzuki were among the top gainers.

While the broader NSE Nifty ended up by 76 points to end at 11,662.

Among BSE sectoral indices, power stocks gained the most, followed by capital goods stocks and realty stocks.

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Key September Quarter Result Announcements

From the media space, Zee Entertainment Enterprises Ltd (ZEEL) share price will be in focus today as the company reported a 6.73% year-on-year (YoY) rise in consolidated net profit at Rs 4.1 billion for the second quarter ended September 2019.

The growth here was driven by strong performance in domestic broadcast and digital businesses.

The company's total income rose 7.63% to Rs 21.9 billion during the quarter under review as against Rs 20.3 billion in the corresponding quarter last year.

ZEEL's total expenses in the quarter stood at Rs 15.1 billion as against Rs 13.8 billion in the year-ago period.

Total income during the April-September period rose 11.55% to Rs 43 billion as against Rs 38.5 billion a year ago.

Revenue from advertisement stood at Rs 12.2 billion during July-September, up 1.16% YoY.

Subscription revenue rose 18.96% YoY at Rs 7.2 billion during the quarter under review.

From the automobile sector, TVS Motors reported 20% jump in its standalone net profit for the September quarter (Q2FY20) at Rs 2.6 billion. The company had posted a profit of Rs 2.1 billion in the same quarter last year.

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Revenues were down 13% at Rs 43.5 billion versus Rs 49.9 billion in the same quarter previous year.

Earnings before interest, tax, depreciation and amortization (EBITDA) was also down 10.8% at Rs 3.8 billion versus Rs 4.3 billion.

On a consolidated basis, the company has reported 15.1% rise in its net profit at Rs 2.6 billion for the quarter under review as compared to Rs 2.2 billion for the same quarter in the previous year.

However, total income of the company decreased by 9.2% at Rs 49.7 billion for Q2FY20 as compared to Rs 54.7 billion for the corresponding quarter previous year.

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Govt. to Cut Stake in BHEL

From the energy sector, BHEL share price will be in focus today. The stock of the company witnessed huge buying interest yesterday on reports suggesting that the government will likely to cut its stake in the company.

As per the news, the government may consider bringing down its stake in state-owned BHEL and National Mineral Development Corporation (NMDC).

The stake in BHEL may be pared in tranches to 26% from 63.17% now.

The government may also look to sell the state-run power player's non-manufacturing units to private players.

Four to five units of BHEL are reportedly marked for sale to private players this fiscal.

An inter-ministerial group is expected to meet soon to discuss the stake sale.

Earlier in October, the government cleared disinvestment in five PSUs, a move which is expected to cover nearly 60% of its disinvestment target for FY20.

The government has a divestment target of Rs 1.05 lakh crore for the current financial year. In both FY18 and FY19, the divestment proceeds exceeded the target of Rs 1 lakh crore and Rs 800 billion respectively.

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

Cipla Acquires Anti-Infected Product for Indian Market

Moving on to the news from the pharma sector... Cipla has acquired a novel and patented anti-infective product, Elores, from Venus Remedies Ltd (VRL) for the Indian market.

The acquisition is aimed at further strengthening the firm's presence in branded Indian critical care space, and as a part of its agenda to contribute to the fight against anti-microbial resistance (AMR).

Elores is indicated for the treatment of life-threatening infections caused by gram-negative bacteria.

The product was launched in India across select tertiary care hospitals in the country in 2013 after approval from the Drug Controller General of India.

The company had recently acquired Zemdri, and with the acquisition of Elores, Cipla has added to its offering of new generation antibiotics.

China's Q3 GDP Slowest in 27 Years

China's economy expanded at its slowest rate in nearly three decades in the third quarter, hit by cooling domestic demand and a protracted US trade war.

According to the National Bureau of Statistics (NBS), gross domestic product (GDP) rose just 6% year-on-year, marking a further loss of momentum for the economy from the second quarter's 6.2% growth.

On Friday, Asian stocks stumbled on back of the above news, reversing gains made on the UK and European Union striking a long-awaited Brexit deal.

Earlier this month, US President Donald Trump said the two sides had reached agreement on the first phase of a deal and suspended a tariff hike, but officials warn much work still needed to be done.

Stay tuned for more updates from this space!

To know what's moving the Indian stock markets today, check out the most recentĀ 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

ASTER DM HEALTHCARE LTD Plunges by 6%; BSE HEALTHCARE Index Up 0.6% (Today's Market)

Nov 15, 2019 12:36 PM

ASTER DM HEALTHCARE LTD share price has plunged by 6% and its current market price is Rs 158. The BSE HEALTHCARE is up by 0.6%. The top gainers in the BSE HEALTHCARE Index are GLENMARK PHARMA (up 5.2%) and SUN PHARMA ADV. RES. (up 3.7%). The top losers are ASTER DM HEALTHCARE LTD (down 5.7%) and FORTIS HEALTHCARE (down 7.2%).

ICICI BANK at All Time High; BSE BANKEX Index Up 1.0% (Today's Market)

Nov 15, 2019 12:31 PM

ICICI BANK share price has hit an all time high at Rs 510 (up 1.1%). The BSE BANKEX Index is up by 1.0%. Among the top gainers in the BSE BANKEX Index today are ICICI BANK (up 1.1%) and KOTAK MAHINDRA BANK (up 0.7%). The top losers include INDUSIND BANK (down 0.4%) and AXIS BANK (down 0.5%).

Indian Indices Trade Higher; Bharti Airtel & SBI Top Gainers (Today's Market)

Nov 15, 2019 12:30 pm

Indian share markets are trading on a positive note with the BSE Sensex up by 227 points while NSE Nifty is trading higher by 62 points.

SBI Surges by 5%; BSE BANKEX Index Up 1.0% (Today's Market)

Nov 15, 2019 12:26 PM

SBI share price has surged by 5% and its current market price is Rs 322. The BSE BANKEX is up by 1.0%. The top gainers in the BSE BANKEX Index is SBI (up 5.1%). The top losers are INDUSIND BANK (down 0.3%) and AXIS BANK (down 0.5%).

AU SMALL FINANCE BANK Plunges by 5%; BSE BANKEX Index Up 0.9% (Today's Market)

Nov 15, 2019 11:56 AM

AU SMALL FINANCE BANK share price has plunged by 5% and its current market price is Rs 826. The BSE BANKEX is up by 0.9%. The top gainers in the BSE BANKEX Index are SBI (up 4.3%) and BANK OF BARODA (up 1.6%). The top losers is AU SMALL FINANCE BANK (down 5.3%).

FORTIS HEALTHCARE Plunges by 11%; BSE 500 Index Up 0.4% (Today's Market)

Nov 15, 2019 10:59 AM

FORTIS HEALTHCARE share price has plunged by 11% and its current market price is Rs 161. The BSE 500 is up by 0.4%. The top gainers in the BSE 500 Index are CORPORATION BANK (up 17.2%) and CENTRAL BANK (up 9.8%). The top losers is FORTIS HEALTHCARE (down 10.9%).

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