Sensex up 36 points, Nifty ends at 11,899.50; Dish TV jumps 29%
Indices were highly volatile in the afternoon deals on Friday.
The benchmark S&P BSE Sensex was trading at 40,075 level. IndusInd Bank was the top performer on the index, up 4 per cent, while YES Bank was trading over 6 per cent lower ahead of its Q2 results. On NSE, the Nifty50 was trading at 11,850-mark.
Sectorally, Nifty Auto and IT indices were trading in the red. NIfty ITl index was the top loser, down 0.35 per cent. On the upside, Nifty PSU Bank, and Realty indices were trading over 1 per cent higher.
In the broader market, both S&P BSE mid and small-cap indices were trading 0.3 per cent higher.
Bank of India, Dr Reddy’s Lab, JK Lakshmi Cement, and YES Bank are among the 33 companies scheduled to report their Q2 earnings on Friday.
Analysts expect Yes Bank to report a loss up to Rs 1,907.3 crore due to exposure to bankrupt companies like DHFL, McLeod Russel, and Cox & Kings. However, all eyes would be on the Board’s decision with regards to the receipt of a binding offer worth $1.2 billion by a global investor.
Shares of IndusInd Bank moved higher by 5.1 per cent to Rs 1,378.55 on the BSE on Friday after the bank announced selection of a potential successor to Ramesh Sobti, the current Managing Director and Chief Executive Officer (MD & CEO). It, however, did not name the successor. Sobti’s tenure will end in March 2020, when he turns 70.
Shares of Cochin Shipyard hit a 52-week high of Rs 412, up 6 per cent on the BSE on Friday after the company won contract worth Rs 3,000 crore. The stock of the state-owned shipping company was trading at its highest level since September 26, 2018 on the BSE.
Dilip Buildcon gained 2.8 per cent to Rs 444.5 in the morning deals on the BSE on Friday after the company bagged contract to construct new greenfield airport in Gujarat. “The company has been declared L-1 bidder by the Airport Authority of lndia for construction of new Greenfield Airport at Hirasar, Rajkot, Gujarat,” the company said in a regulatory filing. The project has to be completed in 30 months.
Sugar stocks remained in focus as Bajaj Hindusthan Sugar and Avadh Sugar climbed up to 10%. Among the individual stocks, Ugar Sugar Works soared 20 per cent to Rs 14.71 in the intra-day trade today. Shree Renuka Sugars, Bajaj Hindusthan Sugar, Magadh Sugar & Energy, Bannari Aman Sugars, Uttam Sugar and Avadh Sugar & Energy jumped in the range of 8 to 12 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.19 per cent at 40,211 points at 09:49 am.
Indian Oil Corporation (IOC) shares slipped as much as 4.42 per cent to Rs 140.30 apiece on the BSE on Friday after the company reported 83 per cent year-on-year (YoY) decline in profit before tax (PBT) at Rs 814.48 crore for the quarter ending September, owing to higher inventory losses and a decline in refinery margin. It had recorded Rs 4,805.74 crore PBT during the same period last year.
Here are some picks from the week gone by.
