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Stock Market Highlights: Sensex, Nifty end flat; RBL Bank plunges 9%, IndiGo down 1%

CNBCTV18 logo CNBCTV18 30-12-2021 Sandeep Singh
16:02:24 IST

Market At Close |Nifty Bank only major index in the green

Here are some highlights: 

--Gains in HDFC Bank, IndusInd help Nifty Bank rise

--NTPC, IndusInd, HCL Tech top gainers

--Bajaj Auto, Reliance Industries, steel stocks top losers

--Reliance drags Nifty lower; IT stocks provide some support

--RBL Bank falls 9% after reports of Rs 300 crore loan write-off

--Oil India rises 8% as Brent hits $80/bbl

--Market breadth neutral; advance-decline ratio at 1:1

15:53:28 IST

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Market At Close | NTPC, IndusInd, HCL Tech, Titan, Cipla top blue-chip gainers

On the other hand, Bajaj Auto, Reliance Industries, JSW Steel, Tata Steel and Maruti Suzuki were the worst hit among the 27 laggards in the Nifty50 pack. 

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Here's how the 30-scrip basket fared:

15:40:04 IST

Market At Close | Sensex flat at 57,794, Nifty at 17,204

Both headline indices ended the day on a flat note. The 30-scrip index declined 12.2 points to close at 57,794.3 and the broader Nifty50 benchmark slipped 9.7 points to 17,204. (Read more on the closing bell)

15:30:24 IST

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Should you take positions in gold, silver, crude oil now? What analysts recommend

Gold is hovering near the $1,800 per ounce mark, silver is eyeing $23 an ounce and crude oil is near $80 a barrel. Are there any trading opportunities in the world of commodities now?

Analysts have handpicked six bets to make the most of the current juncture in the market. On their playbooks now are gold, silver, crude oil and other key commodities. (Check out the complete list of commodity calls for the short term)

15:29:12 IST

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Should you take positions in gold, silver, crude oil now? What analysts recommend

Gold is hovering near the $1,800 per ounce mark, silver is eyeing $23 an ounce and crude oil is near $80 a barrel. Are there any trading opportunities in the world of commodities now? Analysts have handpicked six bets to make the most of the current juncture in the market. On their playbooks now are gold, silver, crude oil and other key commodities.

15:28:26 IST

ITC collaborates with Invest India

Diversified entity ITC Ltd on Thursday said it has collaborated with Invest India, a non-profit venture by the central government for national investment promotion and facilitation, to crowdsource innovative ideas for single-use plastic substitution and automate waste segregation.

15:22:10 IST

Worst stocks of 2021: Hero MotoCorp, Ujjivan SFB, Spandana Sphoorty and others that burned investor money

The year 2021 has been good for the average investor on Dalal Street. Equity benchmarks Sensex and Nifty50 have broken a series of records in a liquidity-driven run, creating a slew of wealth makers for investors. On the other hand, some pockets of the market have punished investors, especially the uninformed kind. These stocks have thrown negative returns to the tune of more than 50 percent in some cases. Here's a list of stocks that have burned investors' money in the overall good year for the market.

15:09:41 IST

Rupee gains 15 paise to 74.56 against US dollar in early trade

The rupee appreciated by 15 paise to 74.56 against the US dollar in opening trade on Thursday, tracking gains in domestic equity markets. At the interbank foreign exchange, the rupee opened strong at 74.56 against the American dollar, registering a rise of 15 paise from the last close.

14:52:46 IST

Deep Industries zooms 12% on bagging LoA from GSPC LNG

Deep Industries jumps 7 percent after the company received a letter of award from GSPC LNG for the hiring of gas compression services at GSPC LNG Terminal, Mundra, Gujarat, for five years. The total estimated value of the contract is approximate Rs 44.40 crore.

14:42:26 IST

Tech Mahindra, Metropolis among stocks to hit 52-week high on BSE

Tech Mahindra stock rallied to a fresh 52-week high of Rs 1,825.65 on Thursday on the BSE. Apollo Micro Systems Ltd, Cybertech Systems, Escorts Ltd, Radico Khaitan, and Metropolis Healthcare were among the other scrips that touched a 52-week high on BSE today. 

14:31:27 IST

Nitin Spinners to invest Rs 950 crore for capacity expansion

Nitin Spinners board approved capital expenditure of Rs 950 crore on an expansion project. The board also approved the appointment of Rohit Swadheen Mehta as an additional director (lndependent) on the Board of the company.

14:20:32 IST

Fresh buying in Supriya Life, stock now up 11%

14:15:46 IST

Krebs Bio board approves allotment of Rs 100-crore redeemable preference shares to Ipca Labs 

Krebs Biochemicals and Industries' board gave nod to the allotment of one crore redeemable preference shares, worth Rs 100 crore, to Ipca Labs. 

Krebs Biochemicals shares were up 20 percent at Rs 193.9 apiece on BSE. Ipca Labs shares were up 2.5 percent at Rs 2,174.3.

14:06:05 IST

GST Rate Hike | Textile industry opposes move

Textile manufacturers, merchants and traders have opposed a hike in GST on textiles from five percent to 12 percent, which comes into effect from January 1, 2022.

GST is at five percent for cotton fabric and garments. For manmade fibers and manmade yarn, it is at 12 percent and 18 percent respectively. (Read more on GST rates)

14:04:33 IST

Moneycontrol Pro | GAIL in focus; here's why

GAIL’s 70-75 percent revenue comes from gas marketing, and the remaining from transmission and other hydrocarbon businesses. The company's management sees 7-8 percent growth in transmission volumes in next 3-4 years and expects the gas marketing division to do better in the current LNG demand environment. (Read more on GAIL shares)

13:55:30 IST

What experts say on RBI's Financial Stability Report 

The RBI's Financial Stability Report highlights that bad loans may rise in the coming year especially in the retail and MSME segments, but will not hit double digits by September 2022. 

CNBC-TV18 got Krishnan Sitaraman, Senior Director and Deputy Chief Ratings Officer at CRISIL Ratings, and Krishnan ASV, Lead Analyst (BFSI) at HDFC Securities, to share their views. Here's what they said

13:41:17 IST

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Infosys, HDFC Bank, TCS, HCL Tech top Sensex movers

ICICI Bank, HDFC and Tech Mahindra also contributed to the gain in the 30-scrip index. 

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

13:32:55 IST

CNBC-TV18 Exclusive | Sources say GST Council likely to extend tenure of GoM on rate rationalisation

The Group of Ministers is likely to get a 2-3 month extension by the Council, sources told CNBC-TV18. 

                

The GoM was supposed to submit a final report by December. It is yet to meet for the last time to discuss possible rate hikes and a merger of slabs.

13:18:36 IST

Buy Cadila, HUL: Jay Thakkar 

Here are two trading calls from Jay Thakkar of Marwadi Shares & Finance:

--Buy Cadila Healthcare for a target price of Rs 528 with a stop loss at Rs 450 

--Buy Hindustan Unilever for a target of Rs 2,450 with a stop loss at Rs 2,230 

13:16:58 IST

Nitin Spinners to invest Rs 950 crore for capacity expansion at spinning unit

13:11:30 IST

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Nifty Bank flat; RBL Bank down 7%

Here's how the S&P BSE Bankex pack fared: 

13:01:25 IST

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RBI extends deadline for periodic KYC update by 3 months

The new deadline is March 31, 2022, according to the RBI. 

The extension in deadline is in view of prevalent uncertainty due to the new variant of COVID, it said.

13:00:16 IST

SBI’s turnaround has been a positive surprise: HDFC Securities' Krishnan ASV

Krishnan ASV of HDFC Securities said in an interaction with CNBC-TV18 that SBI is a strong franchise with a significant turnaround in the past four quarters. The bank's turnaround has been a positive surprise, he said. 

There are still pockets of stress that have not yet emerged in the retail segment, he said. 

He also said that a pickup in consumption will lead to a return of demand.

12:57:42 IST

If certain stress scenarios play out, NPAs to move in line with estimates: CRISIL's Krishnan Sitaraman

Krishnan Sitaraman of CRISIL Ratings told CNBC-TV18 the RBI's latest Financial Stability Report shows a decline in NPA projections. If certain stress scenarios play out, NPAs would move in line with estimates, he said. 

Sitaraman said there is a chance that NPAs would move up for the banking sector, especially for the retail and SME segments. Slippages could come from restructured accounts in the future, he added.

Sitaraman expect credit growth of 9-10 percent in FY22.

In its Financial Stability Report released on Wednesday, the RBI highlighted that bad loans are set to rise but even in the worst-case scenario, gross NPAs won't hit double digits by September 2022. Results of the macro stress test are better compared with the previous FSRs. 

12:51:28 IST

Expect sectors linked to economic revival to perform well: Quantum AMC's Nilesh Shetty

Nilesh Shetty, Equity Fund Manager at Quantum AMC, continues to believe that India is on the cusp of an economic revival. In terms of portfolio positioning, he expects the sectors linked to economic revival to do really well going forward. "We have large weights in financials and consumer discretionary spends. Currently, our perception is these are the pockets of ideal portfolio and given that these sectors have not done that over the last 12 months, once the economy picks up, they are expected to do a lot better relative to other sectors. We continue to have large weights there," he said. 

12:47:55 IST

Tech Mahindra, HCL Technologies, Wipro jump 2-3%

12:39:28 IST

J&K Bank appoints Baldev Prakash as MD, CEO

His appointment takes effect today. 

J&K Bank shares were up 0.7 percent at Rs 36.2 apiece on BSE after the announcement. 

12:38:44 IST

Buy Patel Engineering, target price Rs 38: Mitessh Thakkar

Here are two trading calls from Mitessh Thakkar of earningwaves.com:

--Buy Patel Engineering for a target of Rs 38 with a stop loss at Rs 31.75 

--Sell IDFC First Bank for a target of Rs 44 with a stop loss at Rs 47.5 

12:33:46 IST

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Worst Stocks of 2021 | Hero MotoCorp, Ujjivan SFB, Spandana Sphoorty and others that burned investor money

The year 2021 has been good for the average investor on Dalal Street. Equity benchmarks Sensex and Nifty50 have broken a series of records in a liquidity-driven run, creating a slew of wealth makers for investors. On the other hand, some pockets of the market have punished investors, especially the uninformed kind.

These stocks have thrown negative returns to the tune of more than 50 percent in some cases. Here's a list of stocks that have burned investors' money in the overall good year for the market. 

12:26:47 IST

Skills & careers business to break even in few quarters: NIIT's Sapnesh Lalla 

Sapnesh Lalla of NIIT told CNBC-TV18 the company expects its skills and careers business to break even in the coming quarters. The business will grow faster than the corporate learning unit, he said. 

The digital business accounts for less than 15 percent of revenue for the company and is expected to grow much faster, he said. 

Capital is available for growth and acquisitions, he added. 

NIIT will look at selling its schools business once certainty sets in, Lalla said. 

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