
A trader points to monitor displaying an S&P 500 Index chart on the floor of the NYSE in New York. (Photographer: Michael Nagle/Bloomberg)
Live: Sensex, Nifty Flat; Ashoka Buildcon Up 38% In 10 Sessions
Current Market Update
Buzzing Stock: JSPL
- Trades at the highest level since September 2018
- Gains as much as 3.4% to Rs 220.4
- Has gained in eight out of the last ten sessions
- Up 18% in the last ten trading sessions
- Today's volumes are 17% lower than its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 82
- Has more than quadrupled from its 52-week low of Rs 62 on April 3, 2020
- 17 out of the 19 analysts tracking the stock have a buy recommendation; 1 sell call
- Return potential of the stock as per Bloomberg data is 15.9%
July WPI Remains Negative
India's wholesale prices remained negative in July, falling more than economists expected.
Wholesale prices in July fell 0.58%. Estimates of 19 economists ranged from a decline of 1.5% to a rise of 5.4%.
Primary article prices rose 0.63% compared to the previous year.
Fuel, power and lighting prices declined 9.84% compared to last year.
Manufactured product prices rose 0.51% year-on-year.
Wholesale food prices rose 4.08% as compared to the previous year.
Earnings Reaction: 3M India Q1FY21
- Revenue down 57% to Rs 346.2 crore
- Net loss of Rs 42.5 crore from net profit of Rs 90.1 crore
- Ebitda loss of Rs 48.4 crore from Ebitda gain of Rs 148.5 crore
- Safety and Industrials business revenue down 57% to Rs 132.5 crore
- Transportation & Electronics business revenue down 70% to Rs 84 crore
- Healthcare business revenue down 41% to Rs 77 crore
- Consumer business revenue down 37% to Rs 49 crore
- Outlook for the remainder of the financial year is uncertain.
- In the process of executing investments in the range of Rs 65 crore
- Standalone cash balance improved by about 9% to Rs 665.7 crore
Shares fell as much as 5% - the most in four months to Rs 20,800.
Markets At Noon
- Benchmark indices continue to consolidate
- Nifty up 0.3% at 11,337
- Sensex up 0.34% at 38,443
- Nifty Bank unchanged at 22,188
- Nifty Midcap index down 0.46%
- Nifty Smallcap index down 0.5%
- India Volatility Index down 4.4% to Rs 19.66
- Nifty Pharma remains the top sectoral gainer; up 2%
- Nifty Metal and Nifty Realty are the other major sectoral gainers; up 0.7% each
- Nifty Auto is the top sectoral laggard; down 1%
- Cipla remains the top Nifty gainer; up 2%
- Eicher Motors extendes losses as the top Nifty laggard; down 4%
- 1,066 stocks on the NSE trade with gains while 704 decline
Buzzing Stock: Ashoka Buildcon
- Second best performer on the Nifty Smallcap index
- Gains as much as 7.5% to Rs 69.4
- Trades at the highest level in five months
- Gains in nine out of the last 10 trading sessions
- Up 38% in the last 10 trading sessions
- Today's volumes are more than triple its 20-day average
- Entering overbought territory with Relative Strength Index (RSI) at 70
- Has nearly doubled from its 52-week low of Rs 37 on April 3, 2020
- Approaching its 200-Day Moving Average of 76.9
- 22 out of the 23 analysts tracking the stock have a buy recommendation; 0 sell calls
- Return potential of the stock as per Bloomberg data is 58%