Sensex Trades Marginally Lower; Yes Bank & Sun Pharma Top Losers

Tue, 2 Jul 12:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   Closing   

Share markets in India are presently trading on a negative note amid weak global cues.

Sectoral indices are trading mixed with stocks in the realty sector and healthcare sector witnessing selling pressure while power stocks and telecom stocks are trading in green.

The BSE Sensex is trading down by 107 points (down 0.3%), while the NSE Nifty is trading down by 26 points (down 0.2%). The BSE Mid Cap index is trading down by 0.1%, while the BSE Small Cap index is trading down by 0.2%.

The rupee is currently trading at Rs 68.97 against the US$.

Speaking of Indian share markets, will the upcoming budget change the course of Indian economy? We will wait and watch.

However, amid these macroeconomic uncertainties, co-head of research, Tanushree talks about the Rebirth of India phenomenon and how 3 specific trends are racing ahead even in these gloomy times...

You can read more on these 3 opportunities here: Defence boom, Infrastructure sector reforms and Electric Vehicle Disruption.

In the news from the banking sector, Yes Bank share price is in focus today after it was reported that a Mumbai-based Radius Developers has defaulted on scheduled interest payments on a Rs 12 billion loan to the private lender.

As per an article in The Economic Times, the company, which has delayed interest payments by 45-60 days, has exposure of about Rs 55 billion to the banking system.

Here's an excerpt from the article:

• The Radius Developers account is currently in the SMA-2 category and it has delayed interest payments of Rs 300 million. Requisite provisions are made on the account if they don't pay before the 90-day period.
  
  A Radius Group spokesperson told that the company will be paying the interest component of Rs 300 million to Yes Bank by July 5.

The Radius Group project that Yes Bank had funded is located in Chembur. The development has been delayed by about four years due to want of environmental clearances.

Reportedly, the developer had got into an agreement with a prominent NBFC last year to sell a part of the project at a lower rate for Rs 36 billion. But just after the IL&FS crisis squeezed the flow of funds to NBFCs, the non-bank lender called-off the deal putting the developer in lurch.

Yes Bank share price is presently trading down by 6.7%.

Moving on, Cox & Kings share price is witnessing selling pressure today after the travel-services company defaulted Rs 500 million in repayment commitments toward outstanding commercial papers (CP), citing a temporary mismatch in cash flows.

In a regulatory filing on Monday, the company said "the working capital situation at Cox & Kings (was) stretched in the past few months and was further affected due to its inability to replace the short-term loans with long-term loans/regular working capital lines".

Shares of the company were locked in the 5% lower circuit to trade at an all-time low of Rs 32.95 on back of the above news. There were pending sell orders for 3.9 million shares of Cox & Kings on the BSE.

The company also added that it is taking all the required measures to resolve the temporary cashflow mismatch.

Reports also state that the company is evaluating each business and identifying ways to improve operational performance. It plans to reach out to lenders, seeking revision in loan repayment terms.

Earlier last week, rating companies cut the company's creditworthiness to 'D' or default. Several acquisitions in the past years have also stretched the company's balance sheet.

It is interesting to note that the stock of Cox & Kings has been a falling knife in the last few years. The stock is down more than 80% in the last 5 years.

Whereas, the stock that we recommended in Smart Money Secrets has been a consistent performer.

Just have a look at the chart below.

Divergence in Stock Performance

As Sarvajeet Bodas writes in a recent edition of The 5 Minute WrapUp...

• No wonder, Cox & Kings share price has lost 87% since 2018 and fallen 78% since the beginning of this year.
  
  Sure, the travel & tourism industry has a great runway for growth ahead.
  
  India is likely to become the third-largest tourism economy in the next 10 years. Not to mention, all the key triggers are in place for this industry to take off.
  
  Rising disposable incomes. A rapidly expanding the middle class. Urbanisation. Easy access to technology. The expansion of budget airlines.
  
  However, to ride this industry tailwinds, your side-car investing journey has to be in the company with a strong track record, ethical management and strong financials.

In Smart Money Secrets, we prefer companies which are run by excellent management, showing prudent capital allocation, businesses which have scalability, and a competitive advantage.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers