Home / Business / Money / Sensex, Nifty steady; Vedanta, GAIL Sun Pharma up 2-3%

Sensex, Nifty steady; Vedanta, GAIL Sun Pharma up 2-3%

Nov 17, 2015, 02.17 PM | Source: Moneycontrol.com

Hindalco, Vedanta, ITC, GAIL and Sun Pharma are top gainers while Infosys, Dr Reddy’s Labs, Axis Bank and Hero are losers.

Like this story, share it with millions of investors on M3

Sensex, Nifty steady; Vedanta, GAIL & Sun Pharma up 2-3%

Hindalco, Vedanta, ITC, GAIL and Sun Pharma are top gainers while Infosys, Dr Reddy’s Labs, Axis Bank and Hero are losers.

13:00

TheNewsInternational Team

1:45 pm Boardroom: 

ONGC reported a weak set of second quarter earnings with net profit declining 31 percent to Rs 4,842 crore and revenue falling 9.4 percent to Rs 20,679 crore. AK Srinivasan, Director-Finance said that realizations were lower in the Q2 at USD 49 per barrel. The company loses close to USD 530 crore every year due to fall in dollar, he added. He expects oil production to cross 26 million tonnes this year. Last financial year, the company clocked in production of 25.94 million tonnes. However, gas production will be lower than the target and is expected to improve only in FY17, he said.

1:30 pm Interview:
RG Rajan, CMD of Rashtriya Chemicals and Fertilisers in an interview to CNBC-TV18 spoke about the second quarter performance and the gas price outlook going forward. Energy conservation, optimisation of all resources to help improve performance going forward, says Rajan. It was a mixed quarter for the company, growth was steady but margins came off and profits dipped. However, Rajan expects second half FY16 performance to be better than the first half. He expects demand to be muted in Maharashtra due to poor rains but expects sales in other markets like Tamil Nadu etc., to make up for the shortfall.

Don’t miss: HPCL, IOC, APSEZ to benefit most from rupee fall, says Fitch

The market is still holding gains as the Sensex is up 56.30 points or 0.2 percent at 25816.40. The Nifty is up 11.20 points or 0.1 percent at 7817.80. About 1272 shares have advanced, 1193 shares declined, and 177 shares are unchanged.

Hindalco, Vedanta, ITC, GAIL and Sun Pharma are top gainers while Infosys, Dr Reddy’s Labs, Axis Bank and Hero are losers.

Suhas Harinarayanan, Head of Research, JM Financial feels there are yet no signs of earnings support for the market. Most earnings expectations have been cut down to singe digits for the year. Earlier the expectations were that earnings would be around high-teens for FY16-17. Therefore, focus only on companies with strong earnings growth potential, he said.

Moreover, with rural incomes still stagnant, it is unlikely for one to see meaningful recovery in rural demand for the near-term, said Harinarayanan.

Sector specific, he would be more selective on PSU banks and from the two-wheeler space the house has Eicher Motors in their model portfolio with an eye on urban spending.

12:00

Sensex, Nifty consolidate; metals shine, Axis drags

Axis Bank, Dr Reddy’s Labs, Bharti Airtel and Hero Motocorp fell more than 1 percent. Shares of ITC, HDFC, Sun Pharma, Cipla, Hindalco, Vedanta, GAIL and Tata Steel gained 1-4 percent.

Read More »

11:00

Sensex, Nifty firm; Dr Reddy, Bharti, Hero laggardsRead More »

Hindalco, Vedanta, ITC, Tata Steel and Cipla are top gainers while Infosys, Dr Reddy’s Labs, Bharti Airtel, Hero MotoCorp and M&M are among losers in the Sensex.

Read More »

10:00

Sensex marginally higher; ITC leads again, Infosys dragsRead More »

ITC continued to top contributor to Sensex’s gains, up 2 percent. Vedanta, Hindalco, GAIL, BHEL and Sun Pharma rallied 1.5-3 percent.

Read More »

09:15

Sensex up over 100 pts, Nifty eyes 7850; ICICI, SBI leadRead More »

ICICI Bank, Vedanta, SBI, L&T, BHEL, Idea Cellular, Cairn India and Tata Power were early gainers, up around a percent each. Dr Reddy’s Labs, Bharti Airtel, GAIL, Hero Motocorp, Infosys and HCL Technologies were losers.

Read More »

READ MORE ON  BSE, Sensex, NSE, Nifty, Market, ONGC, ITC, Bharti
Previous Buy OIL India; target of Rs 478: KRChoksey
Next Tata Steel wants to sell UK plant: Report

  • Bull’s Eye: Buy OBC, Exide, UPL, Dish TV, Amara Raja

  • Why is India Inc stressed by Swachh Bharat cess

  • ICICI Bk approves 6% stake sale in ICICI Pru Life Insurance

  • Market to give 30% returns over two years: CLSA

  • Energy, airline shares lead Asia’s stock rebound

  • Is Pearl Agro another Sahara scam in the making, asks SC

  • Govt has zero tolerance on black money & corruption : Modi

  • Sugar output may fall by 4.6% to 26.8 mn tonnes this year

  • Stocks in news: Infosys, ICICI, Apollo Tyres, Ajanta Pharma

  • How ISIS attacks could affect Saudi oil production

  • Infosys warns of weak Q3 margins, maintains FY16 guidance

  • Low oil prices favoured Indian economy: Jaitley

  • Vowing to destroy terrorism, France seeks global coalition

  • Videocon eyes $ 4bn turnover from cons electronics in 4yrs

  • AP to waive Rs 110 cr loans of over 25,000 weavers

  • Several parties interested in Tata Steel’s UK-based unit

  • India, China to deepen defence ties, maintain peace at LAC

  • Respite for Chennai, no rainfall reported since Mon night

  • Top 3 cos lose Rs 32,447 cr in m-cap; Sun Pharma hit hard

video of the day

See uptick in H2 earnings; Nifty at 9250 in 1-yr: IDFC Sec

news videos

  • `Draft hydrocarbon policy to help GAIL, GSPL;hit Petro LNG’

  • See uptick in H2 earnings; Nifty at 9250 in 1-yr: IDFC Sec

  • Focus on film, digital biz; to add new shows in Q4: Balaji

  • See one more RBI rate cut; rupee to depreciate:CLSA’s Malik

Leave a Reply

Scroll To Top