Titan’s Fall Offsets Rally In Sun Pharma, Bajaj Finance As Sensex, Nifty Flat
The Bombay Stock Exchange (BSE), right, stands on Dalal street in Mumbai. (Photographer: Adeel Halim/Bloomberg)

Titan’s Fall Offsets Rally In Sun Pharma, Bajaj Finance As Sensex, Nifty Flat

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Closing Bell: Sensex, Nifty End Lower After Choppy Trade

Indian equity benchmarks ended little changed as the gains in Bajaj Finance Ltd. and Sun Pharmaceutical Industries Ltd. were offset by losses in Titan Company Ltd.

The S&P BSE Sensex and the NSE Nifty 50 ended little changed at 38,730.82 and 11,555.90. The broader market index represented by the NSE Nifty 500 Index ended 0.1 percent higher.

Titan—India’s largest jewellery maker clocked its steepest fall in over a decade after predicting a muted first quarter as Asia’s third-largest economy faces a slowdown.

Besides, Bajaj Finance registered its biggest gain in over eight months its AUM rose 41 percent on a yearly basis to AUMs at 1.29 lakh crore in the three months ended June.

The market breadth was tilted in favour of buyers. About 871 stocks declined and 860 shares declined on National Stock Exchange.

Seven out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty FMCG Index’s 0.9 percent fall. On the flipside, the NSE Nifty Realty Index was the top sectoral gainer, up 2.8 percent.

Titan’s Fall Offsets Rally In Sun Pharma, Bajaj Finance As Sensex, Nifty Flat

Block Deal Alert: Petronet LNG

About 11.2 lakh shares of Petronet LNG changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.

Delhi High Court To Naresh Goyal: Deposit Rs 18,000 Crore To Fly Abroad

The Delhi High Court on Tuesday refused to allow Jet Airways (India) Ltd.’s founder Naresh Goyal to go abroad and sought response from the central government on his plea challenging a lookout circular issued against him.

Goyal may deposit Rs 18,000 crore guarantee if he wants to travel abroad now, said Justice Suresh Kait, adding that no interim relief can be granted to him at this stage.

Read more here.
Source: PTI

Meghmani Organics Forecasts 12-15% Topline Growth In FY20

Meghmani Organics Ltd. projects its revenue at 12-15 percent for the current financial year, its Chief Financial Officer GS Chahal said.

“The company will be able to sustain margins at current levels in 2019-20,” Chahal told BloombergQuint in an interaction.

Shares of the pigments and agrochemical maker rose nearly 3 percent intraday to Rs 62.80.

Maruti Suzuki Extends Decline; Shares At Over Two-Year Low

Shares of Maruti Suzuki extended fall for the third consecutive trading session, their longest losing streak in nearly a month.

The stock fell nearly 2 percent intraday to trade at over a two-year low at Rs 5,915.

The Relative Strength Index was below 30, indicating that the stock may be overbought, according to Bloomberg data. Of the shares traded, 44 percent were at the ask price and 36 percent were at the bid.

Fab Four Stocks Of The Day

Glenmark Pharma

  • Stock rose as 3.7 percent to Rs 452.75.
  • The company received an ANDA approval for Ranolazine extended release tablets, 500 mg and 1000mg

NLC India

  • Stock snapped two-day losing streak and rose as much as 8.2 percent to Rs 66.85.
  • Trading volume was two times its 20-day average, Bloomberg data showed.

Sun Pharmaceutical Industries

  • Stock rose as much as 7.7 percent, the most since Aug. 14, 2018, to Rs 395.
  • The scrip was the best performer on the NSE Nifty Pharma Index.

Bharat Electronics

  • Stock rose as much as 5.9 percent to Rs 107.20
  • Fresh longs seen with high OI of 9.3 percent.
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