Live Sensex and Nifty coverage: Market end higher; Reliance Industries leads

Last Updated: Fri, Jul 21, 2017 16:04 hrs
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Sify Editors @ 4:05 PM

Market end higher; Reliance Industries leads

Indian shares rose on Friday to post a third consecutive weekly gain, with Reliance Industries Ltd hitting it highest in over 9-1/2 years after posting strong quarterly results and announcing the launch of a low-cost, 4G-enabled phone.



The broader NSE index closed up 0.42 percent at 9,915.25, while the benchmark BSE index finished 0.39 percent higher at 32,028.89.

The NSE index gained 0.29 percent this week, while the BSE index inched up 0.03 percent.

Reliance gained 3.7 percent, but its telecom rivals slumped, with Bharti Airtel Ltd ending down 2 percent and Idea Cellular Ltd falling 3.3 percent.

Sify Editors @ 3:45 PM

Major domestic indices trade in range to end day in green

There was a great expectation for the BSE and NSE to maintain growth momentum after a good start, but as analysts pointed out both traded in a range, to end the day on green.

The BSE S&P Sensex took a dip between 12:50-1:00PM to 31832 that took nearly an hour and half to re-gain. At day end, the Sensex managed a 124.49 point or a 0.39% lead in green from its opening of 32035.88 on Friday.

The graph on NSE Nifty too was similar. It opened to 9899.60, slid to 9846.90 at 1:00 PM, but managed to eke a 41.95 point or 0.42% lead to end at 9915.25. The expectation of a 10,000 figure should hopefully be answered next in next week. Prakash Gaba suggests that the crucial support for the Nifty is at 9792-9720 and resistance would be at 9916-9969.

Sify Editors @ 3:10 PM

Airtel, Idea plunge on RIL's JioPhone announcement

Stocks of telecom operators Bharti Airtel and Idea Cellular tumbled after industrialist Mukesh Ambani-led Reliance Industries (RIL) on Friday announced the launch of the JioPhone 'intelligent smartphone'.

Around 1.15 p.m., the scrip of telecom major Bharti Airtel fell by 3.22 per cent to Rs 406.25 on the BSE.

Similarly, shares of Idea Cellular dipped by 6.69 per cent to Rs 88.50.

Meanwhile, RIL stocks rose by 2.70 per cent to Rs 1,570.

Sify Editors @ 2:50 PM

Sensex rises; Reliance Industries hits 9-1/2-year high on Jio, results

Indian shares rose on Friday, with Reliance Industries Ltd climbing as much as 3.9 percent to a more than 9-1/2-year high after posting strong quarterly results and announcing a low-cost, 4G-enabled phone.

Reliance Chairman Mukesh Ambani announced on Friday the launch of the device - aimed to draw tens of millions of low-income users to its telecoms venture Jio's service - a day after the oil-to-telecoms conglomerate posted "surprisingly robust" results, fuelled by improved refining margins.

Shares in Reliance rose as much as 3.9 pct to 1,588 rupees, their highest since January 2008, but its telecom rivals slumped on worries about the intensifying competition in the sector, with Bharti Airtel Ltd and Idea Cellular Ltd down as much as 4.1 percent and 7.3 percent, respectively.

Sify Editors @ 2:10 PM

Sentifi analyzer on the BSE website analyzed the RIL stock soaring to 2537% in social media ratings. The other stock was Balaji Telefilms, which saw a hike of 1392%, and Reliance Jio at 561%. The closest any company got in social media tracking and that was unrelated to Reliance's AGM was Wipro, trailing by 449%.

The stock is already 47.30 points up, or 3.09% at Rs 1576 on Bombay Stock Exchange.

Sify Editors @ 1:35 PM

Reliance Industries announces 1:1 bonus share

Reliance Industries Limited on Friday announced bonus shares in the ratio of 1:1.

The company recommended issue of bonus shares by "capitalisation of its reserves in the ratio of 1 bonus equity share of Rs. 10 each fully paid-up for every 1 existing equity share of Rs 10 each fully paid-up (that is in the ratio of 1:1)," it said in a regulatory filing.

Sify Editors @ 1:20 PM

Ambani announces one bonus for every Reliance share held

Mukesh Ambani at the RIL AGM announces a bonus issue of 1 share for every RIL share held. This makes it probably the largest bonus issue in India.

Sify Editors @ 12:55 PM

HDFC Securities on Force Motors (1QFY18): Short-term blip, long-term thesis intact. Maintain BUY, Target Price Rs 5183

Sify Editors @ 12:25 PM

HDFC Securities on Alembic Pharma (1QFY18): GST disruption. Maintain BUY. Target Price Rs 635.

Sify Editors @ 11:55 AM

Sterlite Technologies hits greater heights as bulls throng the counter

Sterlite Technologies is on song once again, extending its rally up north for the third successive session, riding on upbeat quarterly results.

After recording big gains in the last two sessions amid strong volumes, the stock has spurted again with the bulls thronging the counter once more.

Sterlite Technologies, one of the leading telecom products manufacturers in India, ranks among the global leaders in Optical Communication Products such as optical fibers, fiber optic cables and data cables, operating through its networks in India, China and Brazil. With sales networks spanning across six continents, the company's products have enabled top telecom operators with smarter networks in more than 100 countries.

The stock rallied sharply on Wednesday after the company reported consolidated revenue of Rs 716 crore for the quarter ended June 2017, up 27% over the corresponding quarter of the previous year. The company's EBITDA in the fourth quarter was Rs 157.05 crore, a 37.5% jump over the year-ago quarter and EBITDA margin stood at Rs 21.9%.

Net profit was up 66.2% at Rs 69 crore in the April - June 2017 quarter, compared to year ago quarter. The sharp jump was due largely to a 10.5% decline in finance cost.

A pretty strong order book and a notable jump in sales overseas helped lift the company's revenues in the first quarter. At Rs 320 crore, export sales were the highest ever recorded by the company. At the end of the June quarter, Sterlite Technologies' order book was worth Rs 3140 crore.

Sify Editors @ 10:50 AM

Wipro shares at over one-year-high

Wipro Ltd rises as much as 7.29% to Rs 288.60, its highest since July 2016. Wipro's Q1 consolidated profit rose 1.2% to Rs 2083 crore ($323.72 million), beating analyst expectations. Wipro had on Thursday proposed to buy back nearly 344 million shares of Rs 2 face value for Rs 11000 crore ($1.7 billion) at Rs 320 per share.

Sify Editors @ 10:30 AM

Reliance at a seven-year high

Reliance Industries Ltd, which posted better-than-expected numbers yesterday evening, is up 3.42 percent to Rs 1581.05, its highest since January 2008.

Sify Editors @ 9:30 AM

Ind indices to trade in range with cues from global ones:

Analysts suggest that the Indian indices would remain range bound in tracking global indices. Among the major Global indices, Dow Jones was up by 29 points, Nasdaq by 5 points, while FTSE100 (Financial Times Stock Exchange) by nearly 57 points. Asian indices like Nikkei (up by 124 points), Hang Seng (up by 68 points), and Shanghai Composite Index (up by 14 points) too traded in the green.

Indian benchmark indices- both BSE and NSE however have started rallying. Whether this momentum is gained through the day is another question.

BSE benchmark opened 147.90 points in the green to 32043.77 at 10:10 AM. The Sensex opened swifty at 32035 and reached a high 32051.74. The top gaining index on the BSE was the Energy sector, it soared up by 1.6% to trade at 3675.86. Reliance industries profit figures of 9% beat the market estimates and could be one reason of seeing the index to highs.

NSE  Nifty too started the day in the green. At 10:10 AM, the index was 9915.35 points up of the opening of 9899.60, up by 15.75 points.

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