Indian Indices Trade Higher; Bharti Airtel & SBI Top Gainers

Fri, 15 Nov 12:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   Closing   

Share markets in India are presently trading on a strong note tracking positive global cues. The BSE Sensex rose over 350 points intraday, while the NSE Nifty climbed above 11,950.

Investor sentiments increased amid hopes that the US and China were close to signing a trade deal. White House economic adviser Larry Kudlow said on Thursday that Washington was getting close to a trade agreement with China.

Sectoral indices are trading on a mixed note with stocks in the telecom sector, banking sector and finance sector witnessing buying interest, while capital goods stocks and power stocks are trading in red.

The BSE Sensex is trading up by 227 points while the NSE Nifty is trading up by 62 points. The BSE MidCap index is trading up by 0.5%, while the BSE SmallCap index is trading on a flat note.

The rupee is trading at Rs 71.74 against the US$.

In news from the telecom sector, Bharti Airtel on Thursday posted its second quarterly loss in 14 years after the company provided for outstanding payments to the central government on account of the Supreme Court judgment on adjusted gross revenues (AGR).

The company reported a pre-tax loss of Rs 313.3 billion for the September quarter (Q2FY20). The pre-tax loss in the year-ago quarter stood at Rs 20 billion.

Net loss came in at Rs 230.5 billion in Q2, as against a profit of Rs 1.2 billion in the September quarter last year. Before provisioning for the exceptional item, the company's net loss stood at Rs 11.2 billion for Q2FY20.

Airtel said its net loss was on account of exceptional charge pertaining to the provisioning of Rs 284.5 billion towards the AGR dues, which included principal of Rs 61.6 billion, interest of Rs 122.2 billion, penalty of Rs 37.6 billion, and interest on penalty of Rs 63.1 billion.

Note that, last month, the Supreme Court delivered a judgment in relation to a long-outstanding industry-wide case, upholding the view considered by the Department of Telecom (DoT) in respect of the definition of AGR. The SC allowed three months to the affected parties to pay amounts due to the DoT.

Prior to exceptional item of AGR and taxes, the loss came in at Rs 6.2 billion in the July-September quarter, as against the year ago loss of Rs 18.5 billion.

The company's India revenues increased by 3% on year-on-year basis to Rs 153.6 billion. Average revenue per user (ARPU) jumped 28% at Rs 128 for the September quarter, driven mainly by the increased data customer base. On a sequential basis, the ARPU remained flat as against Rs 129 in June quarter.

Airtel's data customer base grew 27.2% to 124.24 million as against 9.77 million in the year-ago period.

Bharti Airtel share price is presently trading up by 6.9%.

Speaking of quarterly results and corporate profits, economic growth (GDP) and corporate profit growth hardly go hand in hand.

Over the past few years, the share of corporate profits to GDP has steadily declined.

This is evident in the chart below:

Rebound in Corporate Profits May Not Immediately Reflect in GDP

As per Tanushree Banerjee, the revival of capex cycle may cause corporate profits to soar much faster than the GDP growth.

Investors who stay focused on macro numbers may miss this bus.

Moving on to news from the pharma sector, the United States Food and Drug Administration (USFDA) has inspected Aurobindo Pharma's Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from November 4 to 13, 2019.

At the end of the inspection, the company have been issued a 'Form 483' with 14 observations.

Aurobindo Pharma share price is presently trading up by 1%.

To know more, you can read Aurobindo Pharma's latest result analysis on our website.

In other news, the USFDA has also conducted a routine cGMP inspection for both formulations and APIs at Cipla's manufacturing facility in Patalganga, from November 4 to 13.

The inspection ended with 4 observations, none of which were repeat or related to data integrity.

Cipla share price is presently trading down by 0.3%.

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