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Market LIVE Updates: Sensex rises 500 pts, Nifty around 16,200; PSU Bank, IT, metals shine – Moneycontrol

July 18, 2022 / 10:14 AM IST

Moneycontrol launches Analysts’ Call Tracker. A monthly special page that tells you which way analysts are leaning; the stock they are most bullish or bearish on, what they are upgrading or downgrades, and where they are betting against the market. Ignore this at your own risk!

July 18, 2022 / 01:42 PM IST

Bank of Maharashtra Q1 Earnings: Bank of Maharashtra has reported Q1 FY23 net profit at Rs 451.9 crore against Rs 208 crore and net interest income (NII) was up 19.9% at Rs 1,686 crore versus Rs 1,406 crore, YoY.Gross NPA was at 3.74% versus 3.94% and net NPA at 0.88% versus 0.97%, QoQ.    

July 18, 2022 / 01:37 PM IST

Bhansali Engineering Polymers Q1 results:Bhansali Engineering Polymers has posted 38.2 percent fall in its Q1 net profit at Rs 47.7 crore versus Rs 77.4 crore and revenue was up 45.5% at Rs 337.4 crore versus Rs 232 crore, YoY.Earnings before interest, tax, depreciation and amortization (EBITDA) was down 40.2% at Rs 60.3 crore versus Rs 100.8 crore and margin at 17.9% against 43.5%, YoY.

Bhansali Engineering Polymers Q1 results:     Bhansali Engineering Polymers has posted 38.2 percent fall in its Q1 net profit at Rs 47.7 crore versus Rs 77.4 crore and revenue was up 45.5% at Rs 337.4 crore versus Rs 232 crore, YoY.    Earnings before interest, tax, depreciation and amortization (EBITDA) was down 40.2% at Rs 60.3 crore versus Rs 100.8 crore and margin at 17.9% against 43.5%, YoY.

July 18, 2022 / 01:27 PM IST

Sensex, Nifty rally to one-week high: Factors that are driving the markets up

Sensex, Nifty rally to one-week high: Factors that are driving the markets up

The immediate upside targets for the Nifty are at 16,321 mark and then at 16,500 mark. The index would go south only if it drops below its biggest support at 15851, says Prashanth Tapse, Vice…

July 18, 2022 / 01:23 PM IST

Kotak Institutional Equities View on HDFC Bank

The research firm Kotak Institutional Equities has kept a buy rating on HDFC Bank with a target of Rs 1,650 per share.

The company posted 19 percent YoY earnings growth on the back of two percent operating profit growth. The high treasury losses were offset by healthy NII growth and solid fee income growth.

Asset quality metrics were stable while near-term overhang would be the merger.

HDFC Bank was quoting at Rs 1,345.85, down Rs 18.00, or 1.32 percent on the BSE.

July 18, 2022 / 01:14 PM IST

BSE Smallcap index rose 1 percent supported by the Quick Heal Technologies, Vardhman Textiles, Max Ventures and Industries

BSE Smallcap index rose 1 percent supported by the Quick Heal Technologies, Vardhman Textiles, Max Ventures and Industries

July 18, 2022 / 01:03 PM IST

Market at 1 PMIndian benchmark indices were trading at day’s high level with Nifty above 16200.The Sensex was up 585.33 points or 1.09% at 54346.11, and the Nifty was up 176.70 points or 1.10% at 16225.90. About 2161 shares have advanced, 1008 shares declined, and 131 shares are unchanged.

Market at 1 PM     Indian benchmark indices were trading at day's high level with Nifty above 16200.    The Sensex was up 585.33 points or 1.09% at 54346.11, and the Nifty was up 176.70 points or 1.10% at 16225.90. About 2161 shares have advanced, 1008 shares declined, and 131 shares are unchanged.

July 18, 2022 / 12:55 PM IST

KNR Constructions bags road construction project in Telangana

KNR Constructions has received Letter of Acceptance for construction of four lane road from IDA Pashamailaram Industrial Park to ORR in Sangareddy district, Telangana. The order is worth Rs 34.26 crore. The construction period for the said project is 18 months.

KNR Constructions was quoting at Rs 254.20, up Rs 2.90, or 1.15 percent on the BSE.

July 18, 2022 / 12:49 PM IST

RBI seeks ban on cryptos but India needs global support to make that effective: FM Sitharaman

RBI seeks ban on cryptos but India needs global support to make that effective: FM Sitharaman

The comments by the finance minister come as the government’s consultation paper on crypto is awaits a resolution

July 18, 2022 / 12:44 PM IST

Nomura View on HDFC Bank:

The brokerage house Nomura has maintained a buy rating on HDFC Bank and cut the target price to Rs 1,690 per share.

Further decline in provisions aided profit.

FY23/24/25 EPS estimates changed to -1.2/-0.6/-0.8 percent on lower treasury income and lower net interest margin (NIM).

Nomura forecast 16.6 and 16.8 percent EPS and core book value compound annual growth rate (CAGR) respectively over FY22-25, CNBC-TV18 reported.

July 18, 2022 / 12:31 PM IST

Results on July 18: 

HeidelbergCement India, Nelco, Bank of Maharashtra, Bhansali Engineering Polymers, Alok Industries, Ganesh Housing Corporation, Onward Technologies, Sudal Industries, Tanfac Industries will be in focus ahead of quarterly earnings on July 18.

July 18, 2022 / 12:22 PM IST

Nifty PSU Bank index added 1 percent supported by the Bank of Baroda, Canara Bank, Bank of India

Nifty PSU Bank index added 1 percent supported by the Bank of Baroda, Canara Bank, Bank of India