Sensex Slips Over 300 Points; Axis Bank & Tech Mahindra Top Losers

Tue, 17 Sep 12:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   Closing   

Share markets in India have extended early losses and are presently trading deep in the red. Barring consumer durables sector, all sectoral indices are trading in red with stocks in the telecom sector, automobile sector, and IT sector witnessing maximum selling pressure.

The BSE Sensex is trading down by 304 points (down 0.8%), while the NSE Nifty is trading down by 86 points (down 0.8%). The BSE Mid Cap index is trading down by 0.4%, while the BSE Small Cap index is trading down by 0.3%.

The rupee is trading at Rs 71.80 against the US$.

The domestic currency extended its fall against the US dollar as higher oil prices stoked concerns about inflation, economic growth and deficits.

On Monday, the Indian rupee had plunged by 68 paise to 71.60 against the US dollar amid concerns over soaring crude prices following drone attacks on Saudi Arabia's oil facilities.

In news from the retail sector, Titan share price is in focus today. Shares of the company rose as much as 1.5% in early trade today after reports stated that the firm is planning to raise Rs 9 billion through commercial paper.

Earlier this month, credit rating agency ICRA had assigned positive ratings to Titan's commercial paper (CP) programme. ICRA gave A1+ ratings to the company's Rs 9-billion commercial paper.

Fund-based and non-fund based limits of Rs 17 billion under the CP programme were assigned AA+ (positive) and A1+ (outstanding) ratings by the credit ratings agency.

The firm's fixed deposit programme worth Rs 15 billion also received outstanding ratings from ICRA. ICRA cited strong liquidity position and cash flows of the firm behind the positive ratings.

Buying interest is also seen as global research firm Morgan Stanley upgraded the stock to overweight from equal weight. The research firm has raised FY20, FY21 and FY22 EPS estimates by 3%, 2% and 1% respectively.

To know more about the company, you can read Titan's latest result analysis on our website.

Here's an interesting data on Titan, every Rs 100 invested in the company in 2002 would have multiplied 330 times by 2019!

Every Rs 100 Invested in Titan in 2002 Multiplied 330 Times by 2019

Co-head of Research, Tanushree Banerjee believes the opportunities in the Rebirth of India are not only more profitable than the ones in 2002 but the gains could come faster too.

Here's what she wrote in a recent edition of The 5 Minute WrapUp...

• Titan entered the branded jewellery market in 1996.
  
  The retailer faced the challenge of breaching a well-entrenched network of family jewellers. The relationship between customer and family jewellers went back to a couple of generations.
  
  The habit of buying from the family jeweller was strong and the trust was intrinsic. One also had the option of returning old jewellery to the family jeweler.
  
  Through its jewellery brand, Tanishq, Titan broke down the early entry barriers in unorganized jewellery retailing. It consolidated its lead as very few national or branded players threw their hats in the ring.

She is on the hunt for the next set of Titan, HDFC Bank, Bajaj Finance, Asian Paints-like companies. These will be the companies that would catalyze the transformation she calls the Rebirth of India.

Moving on to news from the aviation space, market participants are tracking InterGlobe Aviation (Indigo) share price and SpiceJet share price.

Shares of the companies fell up to 5% yesterday following a spike in crude oil prices overseas. Reports state that a rally in crude oil prices may increase air turbine fuel (ATF) cost for domestic airlines.

In other news, lenders to the debt-laden Jet Airways on Monday, made a presentation to the South American conglomerate Synergy Group, which has reportedly emerged as sole potential buyer of the airline.

Jet Airways had earlier received expressions of interest (EoIs) from energy baron Anil Agarwal's family trust-backed Volcan Investments, Russian Fund Treasury RA Partners and the Panama-based Avantulo Group.

However, Volcan opted out of the race a day after publicly announcing its interest in the carrier.

Reports state that Jet owes over Rs 85 billion, excluding interest and other penal charges to lenders led by State Bank of India (SBI).

The lenders consortium had sent the airline to the NCLT in the month of June as they could not find a buyer. Following this, the bankruptcy tribunal appointed Ashish Chhawchharia of Grant Thornton as the resolution professional to manage the affairs of the crippled airline.

Jet Airways has liabilities over Rs 360 billion, including over Rs 100 billion in vendor dues, Rs 85 billion along with interest owed to lenders, over Rs 30 billion in salary dues, and more than Rs 135 billion in accumulated losses over the past three years.

Jet Airways share price is presently trading down by 0.8%.

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