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

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

  • MyStocks


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

Developments in the Telecom Sector, Global Stock Market Drivers, and Top Cues in Focus Today
Wed, 30 Oct Pre-Open | Monish Vora, TM Team

On Tuesday, Indian share markets moved sharply higher amid positive global cues and better-than-expected September quarter earnings. The BSE Sensex zoomed to a 4-month high, up over 660 points intraday, while the Nifty hit the 11,800-mark for the 1st time since July 5.

Investor sentiments were boosted after media reports stated that Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman are planning a series of tax alignments for equities in the coming weeks.

Optimism over US-China trade deal and the European Union extending Brexit deadline to 31 January 2020, also boosted sentiment.

At the closing bell on Tuesday, the BSE Sensex stood higher by 582 points (up 1.5%) and the NSE Nifty closed higher by 160 points (up 1.4%).

On the sectoral front, gains were largely seen in the automobile sectormetal sector and energy sector.

Top Stocks in Action Today

Tata Power share price will be in focus today as its joint venture (JV) - Industrial Energy has signed pacts with Tata Steel to acquire a captive gas-based power plant and a diesel project in Kalinganagar, Odisha for around Rs 9.2 billion.

Hikal share price will also be in focus today as the company has resumed normal production at Taloja site post the 100% restoration of water by MIDC. MIDC had cut 50% of the water supply last quarter which affected the company's operations in Q2FY20 resulting in lower production and sales.

Market participants will also track Graphite India share price, Lakshmi Machine share price, and Quess Corp share price as these companies will announce their Q2FY20 results later today.

--- Advertisement ---
These 3 Stocks are the Dark Horses of the Stock Market

The mainstream media mostly ignores them.

Mutual funds and hedge funds can't buy them in bulk.

Stock brokers rarely cover them.

These stocks are the dark horses of the stock market.

They only come in limelight after they have rallied by hundreads of even thousands of percent.

Our head of smallcap research, Richa Agarwal, has a knack for identifying such stocks before they begin their rally.

Over the years, she has spotted such stocks which have gone on to offer triple and even quadruple digit gains for investors. (* Past performance is no guarantee of future results)

Today, when the markets are near all-time high... and some investors are thinking of booking profits... Richa has spotted 3 such stocks which are set for a massive rally.

She will reveal the details of these 3 stocks on 16th March at her free online summit.

Click here to sign-up instantly. It's free.

Results Corner

PNB Housing Finance has reported 64.3% rise in its net profit at Rs 3,420.9 million for the September quarter as compared to Rs 2,082.6 million for the same quarter in the previous year.

HDFC AMC has reported 78.8% rise in its net profit at Rs 3,682.4 million for the quarter under review as compared to Rs 2,059.1 million for the same quarter in the previous year.

Total income of the company increased by 6.6% at Rs 5,490.7 million for Q2FY20 as compared Rs 5,152 million for the corresponding quarter previous year.

Reports state that the key reasons for this surge in profitability was the reduction in commissions and fees paid to distributors. Net fee expenses were lower by 44% in Q2.

The company's EBITDA margins stood at 91% in Q2 compared with 89% in the year-ago quarter.

However, growth in revenue was lower as asset management fees have been reduced, even as inflows slowed marginally. Revenue rose about 3.5% year-on-year in Q2.

You can also read our recently released Q2FY20 results of: ICICI Bank, Maruti Suzuki, State Bank of India, Pfizer, Control Print.

Saudi Arabia to Invest in India

Prime Minister Narendra Modi said on Tuesday Saudi Arabia will invest in downstream oil and gas projects in India as part of a strategic partnership between the two countries, a move that would also help the world's top oil exporter find a stable outlet for its crude.

Saudi Aramco along with UAE's national oil company ADNOC has signed a preliminary deal with Indian state-run companies for a 50% stake in a planned 1.2 million barrels per day (bpd) mega refinery on the country's west coast.

The Indian government also plans to sell its entire 53.3% stake in state-run refinery Bharat Petroleum Corp, at an estimated price of US$ 10 billion.

Bharti Airtel Defers Q2FY20 Results

Telecom operator Bharti Airtel announced yesterday that it has deferred its September quarter results till November 14 saying it needed more clarity on adjusted gross revenue (AGR) matter.

In a regulatory filing, the company said the management recommended to the Board of Directors to defer September quarter results announcement till November 14, 2019 on account of the fact that more clarity is needed on the AGR matter arising out of recent judgement of Hon'ble Supreme Court.

The statement added, "the company is approaching DoT to seek clarity on the total amounts involved and request for their support to deal with this adverse outcome."

In a major blow to telecom companies Bharti Airtel and Vodafone-Idea, the supreme court last week ruled that the existing definition of AGR will prevail.

The verdict allows the government to recover Rs 920 billion of AGR from the financially stressed telecom industry that includes many operators who have already gone out of business or are under insolvency proceedings.

The payout by telcos could rise to an estimated Rs 1.3 trillion once spectrum usage charges (SUC) linked to AGR are taken into account.

Industry body Cellular Operators Association of India (COAI) said the ruling will deal a "disastrous blow" to the industry, given its precarious financial condition.

According to the new telecom policy, telecom licensees are required to share a percentage of their adjusted gross revenue (AGR) with the government as annual license fee.

In addition, mobile telephone operators were also required to pay spectrum usage charges for the use of radio frequency spectrum allotted to them.

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

Global Stock Market Drivers

Asian share markets crawled to a three-month peak on Tuesday after Wall Street hit all-time highs amid hopes of progress in Sino-US trade talks and for another dose of policy stimulus from the Federal Reserve this week.

On Monday, President Donald Trump said US was ahead of schedule to sign a significant part of the trade deal with China. The US trade representative also said the US was studying whether to extend tariff suspensions on US$ 34 billion of Chinese goods set to expire on December 28 this year.

On the commodities front, oil prices fell for the second day on Tuesday as investors awaited US crude inventory data for more insight into oil demand trends.

Prices rose sharply last week amid a decline in US inventories and signs of an easing in the US-China trade war but worries on Monday about weaker economic growth offset hopes of a rise in oil demand even if trade talks progress.

As per the Economic Schedule released by Vijay Bhambwani, editor of Weekly Cash Alerts, here are the important events due later today:

  • Germany - October CPI Month-on-Month
  • USA - Q3 GDP Quarter-on-Quarter
  • Australia - Q3 CPI Quarter-on-Quarter

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

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

Equitymaster requests your view! Post a comment on "Developments in the Telecom Sector, Global Stock Market Drivers, and Top Cues in Focus Today". Click here!


Stock Market Updates

Sensex Trades Over 200 Points Higher; Dow Futures Up by 37 Points (Today's Market)

Mar 8, 2021 12:30 pm

BSE Sensex is trading up by 214 points, while the NSE Nifty is trading up by 76 points.

Indian Share Markets Open Higher; GAIL & ONGC Surge 5% (Today's Market)

Mar 8, 2021 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 363 points, while the Nifty is trading higher by 112 points.

ONGC at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

Mar 8, 2021 09:40 AM

ONGC share price has hit a 52-week high. It is presently trading at Rs 121. BSE 500 Index is up by 0.7% at 20,123. Within the BSE 500, ONGC (up 5.2%) and BEML (up 13.1%) are among the top gainers, while top losers are DHFL and CORPORATION BANK.

GRINDWELL NORTON at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

Mar 8, 2021 09:38 AM

GRINDWELL NORTON share price has hit a 52-week high. It is presently trading at Rs 975. BSE 500 Index is up by 0.8% at 20,123. Within the BSE 500, GRINDWELL NORTON (up 5.5%) and BEML (up 11.8%) are among the top gainers, while top losers are DHFL and CORPORATION BANK.

ASTRAL POLY TECHNICK at All Time High; BSE CAPITAL GOODS Index Up 1.4% (Today's Market)

Mar 8, 2021 09:36 AM

ASTRAL POLY TECHNICK share price has hit an all time high at Rs 2,332 (up 3.6%). The BSE CAPITAL GOODS Index is up by 1.4%. Among the top gainers in the BSE CAPITAL GOODS Index today are ASTRAL POLY TECHNICK (up 3.6%) and HONEYWELL AUTOMATION (up 2.5%). The top losers include KALPATARU POWER (down 0.8%).

BEML Share Price Up by 12%; BSE CAPITAL GOODS Index Up 1.4% (Today's Market)

Mar 8, 2021 09:36 AM

BEML share price is trading up by 12% and its current market price is Rs 1,311. The BSE CAPITAL GOODS is up by 1.4%. The top gainers in the BSE CAPITAL GOODS Index is BEML (up 11.7%). The top losers is KALPATARU POWER (down 0.8%).

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.


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


Mar 8, 2021 (Close)