The market ended the volatile session lower on Tuesday. Gains in IT stocks were offset by weakness in banks stocks. The Nifty managed to end above the crucial 11,000 mark after flirting with that level in intraday.

The barometer index, the S&P BSE Sensex, fell 74.48 points or 0.2% to 37,328.48, as per the provisional closing data. The Nifty 50 index fell 36.9 points or 0.33% to 11,017, as per the provisional closing data.

The S&P BSE Mid-Cap index was down 0.6%. The S&P BSE Small-Cap index was down 0.62%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, 917 shares rose and 1524 shares fell. A total of 142 shares were unchanged.

Tata Motors (up 2.03%) and Mahindra & Mahindra (up 1.62%) powered indices higher.

Indiabulls Housing Finance (down 4.54%), Britannia Industries (down 3.2%), UltraTech Cement (down 2.95%) and Eicher Motors (down 2.74%) were top losers for the day.

Shares of IT companies jumped as rupee depreciated in foreign exchange market. Persistent Systems (up 3.75%), Infosys (up 1.89%), HCL Technologies (up 1.77%), TCS (up 1.12%), MindTree (up 1%), Mphasis (up 0.74%) and Wipro (up 0.32%) positively reacted to depreciation in rupee.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 71.7700, compared with its close of 71.435 during the previous trading session.

Shares of Sterling and Wilson Solar made a disappointing debut on exchanges. On BSE, Sterling and Wilson Solar closed at Rs 715, a discount of 8.33% over the initial public offer (IPO) price of Rs 780. The stock debuted at Rs 700, discount of 10.25% to the IPO price. The stock hit an intraday high of Rs 755.5 and an intraday low of Rs 691.

City gas distributor, Mahanagar Gas (MGL) jumped 7.86% to Rs 849.25 on reports Netherlands-based Royal Dutch Shell Plc, will sell its 10% stake for over Rs 700 crore. Shell holds its stake in MGL through its wholly owned subsidiary BG Asia Pacific Holdings. As on 30 June 2019, Shell's subsidiary held 98.77 lakh shares or 10% stake in MGL. Shell has exercised its option to exit the city gas distribution business as the lock-in period for minimum promoter holding after listing of a company expired last month. MGL was listed in June 2016 and the three year lock-in period, as per market regulator's listing norms expired on 1 July 2019.

CG Power and Industrial Solutions hit a 20% lower circuit at Rs 14.75 after an internal probe uncovered several irregularities in the financial statements of the company.

Following the disclosure by CG Power, shares of Yes Bank slumped 6.98% to Rs 71.35. As on 30 June 2019, Yes Bank held 12.79% stake in CG Power.

Maruti Suzuki India zoomed 4.09% to Rs 6219 after the company announced a new warranty scheme. The automotive major will offer a 5-year, 1-lakh km warranty for diesel-powered Dzire, S-Cross, Swift and Vitara Brezza. The 5-year, 1- lakh km warranty scheme will cover a host of parts and their replacements. High-pressure pump, compressor, Electronic Control Module (ECM), turbocharger assembly, critical engine and transmission parts will all be covered as part of the scheme. The steering assembly and suspension struts are also a part of the scheme. The company has also reported that it has received good response from its customers, for the BS-VI range of vehicles. The BS-VI models offered by the company currently constitute about 70% of the total petrol vehicles sold.

Vodafone Idea declined 1.67% to Rs 5.89 after company's chief executive officer, Balesh Sharma, resigned citing personal reasons. The board has approved the appointment of Ravinder Takkar as the Managing Director and Chief Executive Officer of the Company for a period of three years effective from 19 August 2019.

Dr. Reddy's Laboratories announced the launch of Vigabatrin Powder for Oral Solution, USP in the U.S. Market. The Vigabatrin Powder for Oral Solution, USP is a therapeutic equivalent generic version of Sabril Powder for Oral Solution, USP, approved by the U.S. Food and Drug Administration (USFDA). Vigabatrin Powder for Oral Solution is available in 500 mg per packet in count size of 50 per carton. The drug major rose 1.94% to Rs 2559.25.

NMDC tanked 11.73% to Rs 89.9 after media reports suggested that the Karnataka government has decided to cancel the lease given to the state-run company for the Donimalai iron ore mine and to put it under auction. In November 2018, NMDC had suspended operations at its Donimalai mine following the Karnataka government's decision to impose 80% premium on sales of iron ore. NMDC did not agree, stopped mining and petitioned the high court (HC), which in July 2019, allowed the firm to resume operations at the mine.

Overseas, European markets were trading higher. Finnish central bank governor Olli Rehn said on Monday that the European Central Bank (ECB) was determined to act if the medium-term inflation outlook continues to miss its target of below but close to 2%. This follows the German finance minster indicating over the weekend that the government is prepared to deploy fiscal stimulus to boost its ailing economy.

Asian markets closed on a mix note on Tuesday as the People's Bank of China published its new loan prime rates under a new mechanism that was unveiled over the weekend. The new 1-year LPR was set at 4.25%, as compared to 4.31% previously. The 5-year LPR was at 4.85%.

U.S. stocks rallied Monday, lifted by encouraging comments from President Donald Trump and other officials on trade talks, along with a move by China over the weekend to lower borrowing costs for companies.

The Commerce Department said Monday that it has given Chinese telecom giant Huawei Technologies Co. Ltd. another 90-day reprieve during which it can continue to do business with American companies, without the granting of case-by-case licences that would otherwise be needed, after the Commerce Department added it to its 'entity list' in May. At the same time, the Commerce Department added another 46 Huawei subsidiaries to the list that will be subject to the full sanctions after 19 November.

Key equity benchmarks wiped off majority of the gains in last hour of session and ended marginally higher. Gains in pharma stocks were negated by weakness in auto stocks. The Nifty struggled to hold the 11,100-mark and ended below that level.

The barometer index, the S&P BSE Sensex, rose 51.15 points or 0.14% to 37,401.48, as per the provisional closing data. The Nifty 50 index rose 5.9 points or 0.05% to 11,053.70, as per the provisional closing data.

The market breadth was almost even. On the BSE, 1275 shares rose and 1210 shares fell. A total of 159 shares were unchanged. The S&P BSE Mid-Cap index rose 0.2%. The S&P BSE Small-Cap index rose 0.47%.

On equity front, Bharti Infratel (up 3.23%), Tech Mahindra (up 1.67%) and Axis Bank (up 1.45%) powered indices higher.

Grasim (down 2.69%), Indiabulls Housing Finance (down 2.68%), Power Grid Corp of India (down1.92%) and GAIL (India) (down 1.66%) were top losers.

Shares of Spandana Sphoorty Financial made a tepid debut on exchanges. On BSE, Spandana Sphoorty Financial closed at Rs 855.65 discount of 0.04% over the initial public offer price of Rs 856. The stock debuted at Rs 824, discount of 3.73% to the initial public offer (IPO) price. The stock hit an intraday high of Rs 865 and an intraday low of Rs 690.

Auto stocks witnessed selling after the Federation of Automobile Dealers Associations (FADA) today released the monthly vehicle registration data for July 2019. Eicher Motors (down 1.49%), Mahindra and Mahindra (down 1.36%), Hero MotoCorp (down 1.28%), TVS Motor Company (down 1.19%), Bajaj Auto (down 0.99%), Escorts (down 0.7%) and Tata Motors (down 0.37%) declined.

For the month of July, overall sales continued to be negative at 6%, a drop of 5% in 2-wheeler sales, personal vehicles (PV) sales tanked by 11% and commercial vehicles (CV) sales dropped 14%.

On a positive note, overall sales up grew 5% in July 2019 as compared to June 2019. June 2019 had the 2nd lowest volume base this year after February. Postponement of demand seen in June due to deficient rainfall concluded in July, after onset and even spread of monsoon and slight liquidity improvement seen towards July end in banking system contributed also, towards this MoM uptick in sales. FADA categorised the near-term outlook as cautiously optimistic''.

HCL Technologies, a leading global IT services company, announced that it has signed MoU with Maharashtra Airport Development Company (MADC) for expansion of Multi-modal International Cargo Hub and Airport (MIHAN) campus in Nagpur. HCL will acquire 90 acres of land adding to the existing state of the art 50 acre campus. The MoU was signed in the presence of Nitin Gadkari, Minister for Road Transport & Highways of India. The stock was trading 0.25% higher at Rs 1064.3.

Coffee Day Enterprises was locked in a 5% upper circuit at Rs 66.05 after the company announced debt reduction plans. The company's total debt as on 31 July 2019, excluding Sical and Magnasoft, stood at Rs 3,472 crore while the total debt of Coffee Day Group was Rs 4,970 crore. The company has announced the divestment of Global Village Tech Park (Global Village) held by its subsidiary Tanglin Developments for an aggregate consideration in the range of Rs 2,600-3,000 crore. On receipt of the consideration for the sale of Global Village after payment of required statutory payments, the debt position of Coffee Day Group will reduce around by Rs 2,400 crore. The debt position of Coffee Day Group (excluding Sical and Magnasoft) post repayment of debt out of proceeds from sale of Global Village is expected to be around Rs 1,000 crore in the next 45 days. The company further assured that it is expected to have a comfortable position to service the reduced debt obligations.

Sun Pharmaceutical Industries was up 2.45% to Rs 424.9 after the company announced that one of its wholly owned subsidiaries has been granted an exclusive license to a subsidiary of China Medical System Holdings (CMS) to develop and commercialize seven generic products in Mainland China. The collaboration with CMS now covers eight generic products. The total addressable market size for all these eight products is about $1 billion (as per recent IQVIA data) in Mainland China. The initial term of the agreement shall be 20 years from the first commercial sale of the respective products in Mainland China and may be extended for additional three years' as per mutual agreement of the two parties.

Dewan Housing Finance (DHFL) jumped 6.86% to Rs 49.05 on reports that the company and its lenders have agreed on a 3-level resolution plan that includes conversion of debt to equity and issuance of nonconvertible debentures. These steps will reportedly give creditors majority stake in the embattled financier and help resume stalled credit lines. Meanwhile, announced that it will announce its Q1 earnings by 14 September 2019.

Jammu & Kashmir Bank fell 2.65% to Rs 36.8 after the Anti-Corruption Bureau (ACB) investigation reported irregularities in board approvals. As per reports, the case has been registered in a bank-loan fraud worth Rs 350 crore, and searches have been conducted at the Bengaluru office of the bank. The ACB has reportedly said that the management at the corporate headquarters/zonal office, Bengaluru, and officers/officials of J&K Bank, Infantry Road Branch, Bengaluru, had given loans worth crores of rupees to Rawther Spices by passing all norms and procedures.

Overseas, European markets were trading higher while Asian markets closed on a positive note on Monday as hopes of more stimulus from central banks around the world and steps being taken by major economies such as Germany and China soothed investors' fears of a sharp global economic slump.

US stocks rebounded on Friday as news of potential German economic stimulus brought buyers back to the equities market.

Key equity benchmarks ended marginally higher, rising for the second straight day. Steep gains were capped amid worries about slowing economic growth and mixed cues from other Asian shares. Firmness in auto and banks shares was nullified by weakness in IT and pharma stocks.

The barometer index, the S&P BSE Sensex, rose 38.8 points or 0.1% to 37,350.33, as per the provisional closing data. The Nifty 50 index rose 18.4 points or 0.17% to 11,047.80, as per the provisional closing data.

The S&P BSE Mid-Cap index rose 0.1%. The S&P BSE Small-Cap index rose 0.11%.

The market breadth was almost even. On the BSE, 1200 shares rose and 1293 shares fell. A total of 148 shares were unchanged.

The equity markets were closed on Thursday, 15 August 2019, on account of Independence Day. Prime Minister Narendra Modi on Thursday called for treating wealth creators with respect. Those who create wealth for the nation, those who contribute to the nation's wealth creation are serving the nation. We should not suspect them and we should not treat them with disdain. It is important that those who create wealth in the country should be given respect and encouraged. They should be given pride of place. If wealth is not created, it will not be distributed. If wealth is not distributed, then the poor cannot benefit. Therefore, wealth creation is critical for a country like us and we want to encourage that. To me, those who are engaged in creating wealth are the country's wealth, the PM said in his Independence Day speech.

On the equity front, UPL (up 4.08%), Yes Bank (up 3.98%), Maruti Suzuki India (up 2.84%) and GAIL (India) (up 2.76%) powered the indices higher.

Trent was in the spotlight as the stock advanced 5.06% to Rs 467.05. It hit a 52-week high of Rs 476 today.

TCS (down 1.37%), Vedanta (down 1.09%) and Sun Pharmaceuticals Industries (down 0.8%) declined.

Indiabulls Group shares came under selling pressure after credit ratings firm Moody's revised the corporate family rating of Indiabulls Housing Finance to Ba2 from Ba1.

Indiabulls Housing Finance (IBH) (down 0.57%), Indiabulls Integrated Services (down 0.95%) and Indiabulls Ventures (down 1.72%) declined.

Moody's has also downgraded the company's foreign-currency senior secured rating to Ba2 from Ba1, foreign- and local- currency senior secured MTN program ratings to (P)Ba2 from (P)Ba1. The international rating agency has changed the outlook to negative from stable. Moody's said that the downgrade reflects renewed pressure on the cost and availability of funds for IBH and certain other finance companies in India.

Private sector bank stocks moved higher. IndusInd Bank (up 2.76%), RBL Bank (up 2.38%), Axis Bank (up 1.92%), Kotak Mahindra Bank (up 0.6%), ICICI Bank (up 0.59%) and AU Small Finance Bank (up 0.24%) gained. HDFC Bank (down 0.28%) declined.

State-run lender State Bank of India was up 0.09% to Rs 290.1. The bank announced that its board gave in-principle approval to explore the possibility of diluting the bank's stake in subsidiary, SBI Cards & Payment Services. The proposed stake dilution will happen through IPO route at an opportune time, subject to the approval of RBI and other regulatory agencies in this regard.

IDBI Bank tanked 8.66% to Rs 24.8 after the bank's the bank reported a net loss of Rs 3800.84 crore in Q1 June 2019 over a net loss of Rs 2409.89 crore in Q1 June 2018. Total Income fell 7.5% to Rs 5923.93 crore in Q1 June 2019 over Q1 June 2018. On a positive side, the bank reported that gross NPA ratio improved to 29.12% as on 30 June 2019 as against 30.78% as on 30 June 2018.

PSU Banks witnessed buying. Punjab National Bank (up 3.51%), Bank of India (up 2.44%), Union Bank of India (up 1.74%), Bank of Baroda (up 1.34%) and Oriental Bank of Commerce (up 0.53%) gained. Syndicate Bank (down 1.88%) and Allahabad Bank (down 0.69%) declined.

Tata Motors slipped 0.08% to Rs 120.75 after CRISIL downgraded company's rating to CRISIL AA-/ on backdrop of weakening of the business risk profile of JLR.

HEG was down 4.93% to Rs 957 after the company's net profit declined 17.3% to Rs 524.42 crore on a 4.2% rise in net sales to Rs 1346.55 crore.

Suzlon Energy gained 5.77% to Rs 4.4 after the company announced its Q1 June 2019 result after market hours on 14 August 2019. The company reported a consolidated net loss of Rs 327.16 crore in Q1 June 2019 over a net loss of Rs 572.86 crore in Q1 June 2018. The company's net sales declined 34.5% to Rs 833.15 crore in Q1 June 2019 over Q1 June 2018.

Reliance Capital gained 2.24% to Rs 47.95 after the company reported a robust Q1 2019 result. On consolidated basis, the company's net profit rose 313% to Rs 1218 crore on 31.07% surge in total income to Rs 6083 crore in Q1 June 2019 over Q1 June 2018.

Iron ore production major, NMDC announced its production and sales numbers for the month of July 2019. The company's iron ore production rose 37.3% to 1.95 MT in July 2019 as compared to 1.42 MT in July 2018. The company's iron sales also increased 24.22% to 2.41 MT in July 2019 as compared to 1.94 MT in July 2018. The stock is trading 1.77% lower at Rs 102.8.

On the domestic macro front, India's merchandise exports increased 2.2% to $26.33 billion in July 2019 over a year ago. Meanwhile, merchandise imports dipped 10.4% to US$ 39.76 billion. The trade deficit narrowed 27.9% to $13.43 billion in July 2019 from US$ 18.01 billion in July 2018. This data was announced by government after market hours on Wednesday, 14 August 2019.

India's services trade surplus improved 3.4% to $6.79 billion in June 2019 from $6.57 billion in June 2018. As per the data released by the Reserve Bank of India, India's services exports increased 10.0% to $18.55 billion in June 2019 over June 2018. Meanwhile, India's services imports jumped 14.2% to $11.76 billion in June 2019.

Overseas, European stocks were trading higher. London's FTSE 100 opened higher after delay in opening due to a technical glitch. The index now trades 0.34% up.

Asian stocks closed on a mixed note on Friday as investors watched developments in the US-China trade war. In US, the S&P 500 and the Dow gained ground in a late rally on Thursday as upbeat retail sales data offset recessionary fears amid the simmering US-China trade tensions.

Investors and central banks remain concerned though that President Trump's trade war with China is undermining global economic growth after China on Thursday threatened unspecified retaliation against Trump's recent threat to impose more tariffs on its imports from September.

On the data front, U.S. industrial output fell 0.2% in July, the second drop in the past four months, the Federal Reserve reported Thursday. Industrial output is only up 0.5% on a year-on-year basis.

Domestic shares ended with strong gains on Wednesday, tracking firmness in other Asian markets after the US announced a delay in the implementation of tariffs on some Chinese goods. The Nifty closed a tad above 11,000-mark. Gains were supported by strength in banks and metals shares. Pharma stocks witnessed selling pressure.

The barometer index, the S&P BSE Sensex, rose 329.77 points or 0.89% to 37,287.93, as per the provisional closing data. The Nifty 50 index rose 103.55 points or 0.95% to 11,029.85, as per the provisional closing data.

The broader market was upbeat. The S&P BSE Mid-Cap index rose 0.85%. The S&P BSE Small-Cap index rose 0.41%.

The market breadth was positive. On the BSE, 1293 shares rose and 1151 shares fell. A total of 144 shares were unchanged.

On the macro front, the Wholesale Price Index (WPI)-based inflation, base year 2011-12, dipped to a 25-month low of 1.1% in July 2019 from 2.0% in June 2019. The inflation for all three major sub-group - primary articles, fuel and power and manufactured products groups have declined contributing to the fall in overall WPI inflation in July 2019. The core inflation (manufactured products excluding foods products) also plunged to 33-months low of 0.2% in July 2019.

The all-India general Consumer Price Index (CPI) inflation was steady at 3.15% in July 2019 (new base 2012=100), compared with 3.18% in June 2019. The core CPI inflation rose to 4.24% in July 2019 compared with 4.13% in June 2019.

The drop in retail and wholesale inflation fueled expectations of further rate cuts from the Reserve Bank of India. On 7 August, RBI slashed the repo rate for the fourth time in a row by 35 bps, and also lowered its growth forecast for the year by 10 bps to 6.9%.

Vedanta (up 5.01%), Bajaj Finserv (up 5%), UPL (up 4.74%) and Tata Steel (up 4.92%) made the biggest move and supported the uptrend rally.

Sun Pharmaceutical Industries (down 5.25%), Indiabulls Housing Finance (down 4.73%), Wipro (down 2.88%) and Dr. Reddy's Laboratories (down 1.78%) declined.

ONGC declined 1.75% to Rs 126.05. The oil and gas major's consolidated net profit fell 19.39% to Rs 6,693.61 crore on 0.77% decline in net sales to Rs 109,514.82 crore in Q1 June 2019 over Q1 June 2018. On a standalone basis, ONGC's net profit fell 3.9% to Rs 5,904.25 crore on 2.4% decline in net sales to Rs 26,554.74 crore in Q1 June 2019 over Q1 June 2018. The crude oil price realization fell 7.3% to $66.30 per barrel in Q1 June 2019 over Q1 June 2018. The crude oil price realization (joint venture) fell 1.8% to $66.78 per barrel in Q1 June 2019 over Q1 June 2018. The stock

State-run coal miner Coal India was down 1.47% to Rs 200.75. The company reported its quarterly earnings after market hours yesterday. The company's consolidated net profit rose 22.27% to Rs 4629.67 crore on 3.64% rise in net sales to Rs 23223 crore in Q1 June 2019 over Q1 June 2018.

Iron ore miner NMDC gained 3.71% to Rs 104.9 after the company reported its Q1 result on after market hours yesterday. On a consolidated basis, NMDC's net profit rose 21.1% to Rs 1171.56 crore on a 34.8% rise in the net sales to Rs 3263.74 crore in Q1 June 2019 over Q1 June 2018. Consolidated EBITDA rose 28% to Rs 1989 crore in Q1 June 2019 over Q1 June 2018. However, EBITDA margin contracted to 61% from 64%.

Apollo Hospital Enterprise gained 3.03% to Rs 1362 after the company announced its Q1 June 2019. The stock hit a 52-week high of Rs 1444 today, 14 August 2019. The company's net profit rose 68.5% to Rs 57.20 crore on a 16.4% rise in the net sales to Rs 2571.89 crore in Q1 June 2019 over Q1 June 2018.

United Breweries, the maker of Kingfisher beer in India, fell 0.27% at Rs 1,356.9 after the company reported poor Q1 result. The company's profit dropped 25.9% to Rs 164.54 crore on a 13.2% rise in net sales to Rs 4707.2 crore in Q1 June 2019 over Q1 June 2018.

Power Finance Corporation of India rose 1.06% to Rs 105.30 after consolidated net profit rose 0.8% to Rs 2185 crore on 9.5% increase in total income to Rs 14,619.11 crore in Q1 June 2019 over Q1 June 2018.

Kaveri Seed Company surged 7.74% to Rs 480.4 after company's consolidated net profit rose 9.6% to Rs 230.24 crore on 8.4% rise in net sales 627.58 crore in Q1 June 2019 over Q1 June 2018.

Nalco declined 2.56% after consolidated net profit dropped 84.4% to Rs 97.87 crore on a 29.9% decline in net sales to Rs 2084.08 crore in the recently concluded quarter ended 30 June 2019 over its previous corresponding period. The result was announced by the company after close of trading hours yesterday, 13 August 2019.

Hindustan Aeronautics gained 2.95% to Rs 654.5. The company's consolidated net profit rose 33.4% to Rs 463.11 crore on a 17% increase in net sales to Rs 3,291.44 crore in Q1 June 2019 compared with Q1 June 2018. The result was announced after market hours yesterday, 13 August 2019.

Deepak Fertilisers & Petrochemicals Corporation declined 1.8% to Rs 84.55. The chemical company's consolidated net profit fell 71.25% to Rs 10.70 crore on 49.59% decline in net sales to Rs 1122.20 crore in Q1 June 2019 over Q1 June 2018

NBFC major Edelweiss Financial Services rose 0.49% to Rs 143.1. The company announced it quarterly earnings during market hours, today. The company's consolidated net profit dropped 50% to Rs 132.02 crore on 2.8% rise in total income to Rs 2545.93 crore in Q1 June 2019 over Q1 June 2018. In a separate announcement, the financial services conglomerates announced that US-based Kora Management will be investing up to approximately Rs 875 crores in the Edelweiss Group. Kora Management has committed to invest approximately Rs 525 crore in its advisory business, Edelweiss Global Investment Advisors (EGIA) subject to structuring-related milestones.

Overseas, European stocks were trading lower amid weak German GDP data. Germany's GDP, or gross domestic product, fell by 0.1% between April and June, raising fears of a recession for Europe's largest economy.

Asian shares rose across the board on Wednesday, as the US announced a delay in the implementation of tariffs on some Chinese goods.

The People's Bank of China set its official midpoint reference rate for the yuan at 7.0312 per dollar on Wednesday.

China's industrial output rose 4.8% in July as compared to a year earlier, official data showed. Retail sales growth rose 7.6% in July from a year earlier.

US stocks soared on Tuesday after the US decided to delay tariffs on certain Chinese goods while outright removing some items from the tariff list.

The market slumped on Tuesday, dragged by weakness in auto and IT stocks. Selling in HDFC twins also put pressure on bourses. The Sensex slipped below the 37,000 level while the Nifty breached the 11,000 mark. The Nifty was trading way below its 200-day moving average (DMA) placed at 11,170.31.

Global shares were negative as fears about a Sino-U.S. trade war, protests in Hong Kong and a crash in Argentina's peso currency drove investors to safe harbours.

The barometer index, the S&P BSE Sensex, fell 675.18 points or 1.80% to 36,906.73, as per the provisional closing data. The Nifty 50 index fell 183.80 points or 1.65% to 10,925.85, as per the provisional closing data.

Broader markets tumbled. In the broader market, the S&P BSE Mid-Cap index fell 2.25%. The S&P BSE Small-Cap index lost 1.42%.

The market breadth was weak. On the BSE, 819 shares rose and 1672 shares fell. A total of 143 shares were unchanged.

Finance Minister Nirmala Sitharaman met Foreign portfolio investors (FPIs) on Friday, 9 August 2019. FPIs pressed for complete rollback of the higher super-rich surcharge proposed in the Budget. They also sought relief in matters related to long-term capital gains (LTCG) and dividend distribution tax (DDT), beside easier KYC norms. According to media reports, the FM heard all the views, but gave no indication about when the proposals will be implemented.

Last week media reports suggested that the government may withdraw the FPIs surcharge through a notification or ordinance. Reports added that the government could announce a confidence-booster package for investors that included a re-thinking on the long-term capital gains tax.

Foreign investors have been selling extensively in the Indian equity market after the government announced levy of surcharge on super rich in the Union Budget. Finance minister Nirmala Sitharaman in her maiden Budget speech on 5 July 2019, proposed to enhance surcharge on individuals having taxable income from Rs 2 crore to Rs 5 crore and Rs 5 crore and above so that effective tax rates for these two categories will increase by around 3% and 7% respectively. The effective tax rate on the highest tax bracket goes up to 42.7% after the hike.

There are concerns that the increased surcharge on super-rich could also affect foreign funds investing in India since a same tax structures apply for individuals, Hindu Undivided Family (HUF) and Associations of Persons (AOPs). FPIs, including pension and retirement funds, educational endowment fund, etc, come in through trusts or AOPs route because it has been the most tax-efficient structure.

On the macro front, the quick estimates of Index of Industrial Production (IIP) with base 2011-12 showed that India's industrial output grew 2% in June. The data was released by the government after market hours on 9 August 2019.

India's inflation based on consumer price index (CPI) for July 2019 will be unveiled today, 13 August 2019. India's retail price inflation rate rose to 3.18% year-on-year in June 2019, the highest since last October, from 3.05% in the previous month.

On the equity front, Indiabulls Housing Finance (up 14.89%), GAIL (up 1.25%) and Power Grid Corporation of India (up 0.05%) advanced.

Yes Bank (down 10.89%), Bajaj Finance (down 6.07%), Bajaj Finserv (down 5.54%), UPL (down 5%) and HDFC (down 4.96%) declined.

Coal India (down 2.02%) and ONGC (down 3.41%) will announce their Q1 June 2019 results today.

Shares of Reliance Industries (RIL) surged 9.72% to Rs 1275. RIL chairman and managing director Mukesh Ambani on Monday addressed the shareholders of the company at its 42nd annual general meeting (AGM). Ambani said that Jio Fiber Services will be launched on commercial basis on 5 September 2019, the third anniversary of Jio's launch. RIL plans to reach 20 million residences and 15 million business establishments in 1,600 towns. Reliance Jio Infocomm (Jio), a subsidiary of Reliance Industries (RIL), and Microsoft Corp. are embarking on a unique, comprehensive, long-term strategic relationship aimed at accelerating the digital transformation of the Indian economy and society.

Mukesh Ambani revealed a roadmap to becoming a zero net debt company in the next 18 months. Saudi Aramco signed a non-binding letter of intent to acquire a 20% stake in the oil to chemicals division of Reliance Industries valued at an enterprise value of $75 billion.

Mukesh Ambani said that Jio Fiber Services will be launched on commercial basis on 5 September 2019, the third anniversary of Jio's launch. RIL plans to reach 20 million residences and 15 million business establishments in 1,600 towns. Reliance Jio Infocomm (Jio), a subsidiary of Reliance Industries (RIL), and Microsoft Corp. are embarking on a unique, comprehensive, long-term strategic relationship aimed at accelerating the digital transformation of the Indian economy and society.

Sun Pharmaceutical Industries rose 4.01%. On a consolidated basis, the pharma company's net profit rose 31.2% to Rs 1387.5 crore on a 15.9% rise in the total revenue from operations to Rs 8374.4 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 13 August 2019.

Zee Entertainment Enterprise lost 0.20%. The company announced acquisition of balance 26% equity stake in Zee Network Distribution. Accordingly Zee Network Distribution has now become a wholly owned subsidiary on and from 9 August 2019. The announcement was made during market hours today, 13 August 2019.

Grasim Industries fell 4.47%. The viscose staple fibre (VSF) and chemicals manufacturer said its board will meet on 14 August 2019 to consider raising of funds through issue of non-convertible debentures, in one or more tranches, on private placement basis. The announcement was made on Monday, 12 August 2019.

Bharat Heavy Electricals slumped 10.81%. On a consolidated basis, the power plant equipment manufacturer reported net loss of Rs 217.72 crore in Q1 June 2019 compared with net profit of Rs 40.69 crore in Q1 June 2018. Net sales fell 23.9% to Rs 4411.09 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 9 August 2019.

Future Consumer rose 2.97%. On a consolidated basis, the sourcing-to-supermarket food company reported net loss of Rs 14.94 crore in Q1 June 2019 compared with net loss of Rs 5.91crore in Q1 June 2018. Net sales rose 24.7% to Rs 1048.45 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 9 August 2019.

In a separate announcement, the company said that CARE Ratings has re-affirmed its rating of CARE Al assigned to the company in respect of commercial paper worth Rs 100 crore. The announcement was made on Monday, 12 August 2019.

Balkrishna Industries fell 3.45%. On a consolidated basis, the tire manufacturing company's net profit fell 21.4% to Rs 176.84 crore on a 11% fall in the net sales to Rs 1198.93 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 10 August 2019.

New Delhi Television (NDTV) lost 1.47%. NDTV said that its founders Mrs. Radhika Roy and Dr. Prarmoy Roy were prevented trom leaving the country. They have been stopped from traveling abroad on the basis of wholly unsubstantiated corruption case filed by the CBI about an ICICI loan that was taken by their company, RRPR Holding, which was fully repaid with interest ahead of schedule. The case has been challenged in the Hon'ble Delhi High Court by RRPR, owned by the NDTV founders, which has stake in NDTV. The announcement was made after market hours on Friday, 9 August 2019.

IRB Infrastructure Developers fell 3.87%. The highway construction company informed that Mhaiskar Infrastructure - wholly owned subsidiary of the company, has successfully completed concession period of Mumbai Pune Project on 10 August 2019. Subsequently, this SPV has handed over the Project to the Maharashtra State Road Development Corporation (MSRDC). The annoucment was made on Monday, 12 August 2019.

Bharat Forge slumped 6.06% after it announced its Q1 June 2019 result during market hours today, 13 August 2019. The company reported a profit after tax or Rs 174.1 crore in Q1 June 2019, a decline of 25.8% as compared to Rs 234.5 crore in Q1 June 2018. Total revenues of the company in Q1 June 2019 stood at Rs 1346.6 crore, registering a decline of 9% as compared to Q1 June 2018. The decline was caused by weak demand environment in domestic market and inventory de-stocking in oil & gas.

Premier Explosives lost 1.89%. The explosives maker's net profit fell 5.6% to Rs 0.68 crore on a 15.3% decrease in net sales to Rs 52.87 crore in Q1 June 2019 compared with Q1 June 2018. The result was announced on Saturday, 10 August 2019.

In a separate announcement on Monday, 12 August 2019, the company announced winning an order from MoD (Army) for supply of Air Target Imitator valued at Rs 13.50 crore. The order is to be executed within one year and falls under 'Make in India' programme and has got all necessary quaility approvals from defense agencies.

Godfrey Phillips India hit 20% upper circuit at Rs 850.95. The cigarettes and chewing products manufacturer's consolidated net profit rose 106.49% to Rs 118.63 crore on 40.01% rise in total income to Rs 824.78 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 10 August 2019.

Divis Laboratories slumped 8.37%. The company's consolidated net profit rose 1.8% to Rs 272.44 crore on a 16.8% rise in net sales to Rs 1,162.88 crore in Q1 June 2019 compared with Q1 June 2018.

On standalone basis, the company's net profit was almost flat at Rs 267.35 crore while the net sales rose 14.5% to Rs 1139.92 crore. The result was announced on Saturday, 10 August 2019.

Auto stocks declined. Mahindra & Mahindra (down 6.44%), Eicher Motors (down 5.42%), Escorts (down 5.08%), TVS Motor Company (down 4.93%), Ashok Leyland (down 4.66%), Maruti Suzuki India (down 4.53%), Hero MotoCorp (down 1.5%) and Bajaj Auto (down 0.96%) declined.

Tata Motors lost 0.20%. The Tata Motors Group global wholesales in July 2019, including Jaguar Land Rover, were at 78,600 units, lower by 14% compared to July 2018. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in July 2019 were at 26,168 units, lower by 35% over July 2018. Global wholesales of all passenger vehicles in July 2019 were at 52,432 units, up by 4%, compared to July 2018. Global wholesales for Jaguar Land Rover were 41,783 vehicles. Jaguar wholesales for the month were 12,308 vehicles, while Land Rover wholesales for the month were 29,475 vehicles. The announcement was made during market hours today, 13 August 2019.

According to the data released by Society of Indian Automobile Manufacturers, passenger vehicle sales declined 31% to 2 lakh units in July 2019 over July 2018. Following the news, most auto shares declined.

Most IT stocks fell. MindTree (down 4.36%), Tech Mahindra (down 3.99%), Infosys (down 3.75%), Oracle Financial Services Software (down 2.79%), Wipro (down 2.1%), TCS (down 2.07%), HCL Technologies (down 1.69%) and Persistent Systems (down 1.41%) declined.

Hexaware Technologies (up 3.57%) and MphasiS (up 0.22%) advanced.

Steel Authority of India slumped 6.19%. The steel company reported 81.4% drop in consolidated net profit to Rs 102.68 crore on 6.11% fall in total income to Rs 15043.53 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 9 August 2019.

Hindustan Copper fell 3.50%. The company's consolidated net profit fell 39.9% to Rs 21.19 crore on a 27.2% decline in net sales to Rs 304.07 crore in Q1 June 2019 compared with Q1 June 2018.

NIIT lost 1.18%. The company's consolidated net profit jumped 510.3% to Rs 115.17 crore on a 1.8% decline in net sales to Rs 210.30 crore in Q1 June 2019 compared with Q1 June 2018. EBITDA rose 16% to Rs 22 crore in Q1 June 2019 over Q1 June 2018. Its EBITDA margin also increased 159 bps to 10% in Q1 June 2019 as against Q1 June 2018. The result was announced on Saturday, 10 August 2019.

Info Edge (India) lost 1.14% after the company announced its Q1 June 2019 result during market hours today, 13 August 2019. On a consolidated basis, the online classifieds company reported a net loss of Rs 187.58 crore in Q1 June 2019 over a net loss of Rs 18.57 crore in Q1June 2018. Net sales rose 15.43% to Rs 319.73 crore in Q1 June 2019 over Q1 June 2018.

IPCA Laboratories lost 2.68%. The pharmaceutical company reported a rise of 89% in consolidated net profit after tax to Rs 129.43 crore on a 23% rise the consolidated net total income to Rs 1098.53 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 13 August 2019.

Varroc Engineering fell 2.17%. The company announced acquisition of 74% equity stake in the Pune - based CarlQ Technologies. The transaction is to be completed On or before 31 August 2019 or such other date as may be mutually agreed between the parties. The cost of the said acquisition is Rs 19.24 crore. The announcement was made on Saturday, 10 August 2019.

BPCL lost 1.02%. The company's consolidated net profit dropped 44.1% to Rs 1623.75 crore on a 6.3% rise in net sales to Rs 76,325.39 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 9 August 2019. On standalone basis, the company's net profit declined 53.1% to Rs 1075.12 crore on 6.4% rise in net sales to Rs 76,317.94 crore in Q1 June 2019 over Q1 June 2018.

The company's market sales were at 11.11 MMT (Million Metric Tonne) in Q1 June 2019 as compared to 10.97 MMT in Q1 June 2018. The company's average gross refining margin declined to $2.81 per barrel in Q1 June 2019 as compared to $7.49 per barrel in Q1 June 2018.

NTPC lost 3.09%. The company reported 5.63% rise in consolidated net profit to Rs 2840.28 crore on 6.9% rise in total income to Rs 26929.85 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 10 August 2019.

Overseas, European stocks were trading lower on Tuesday as investors monitor political uncertainty in Italy, Hong Kong and Argentina. Asian stocks ended lower on Tuesday as fears about a drawn out Sino-US trade war, protests in Hong Kong and a crash in Argentina's peso currency drove investors to safe harbours like bonds, gold, and the yen.

US stock benchmarks finished sharply lower Monday as simmering geopolitical tensions spooked equity investors and drove a bond market rally while the protracted US-China trade war stoked fears of impending recession.

A foreign brokerage reportedly said that fears of the US-China trade war leading to a recession are increasing and it no longer expects a trade deal between the world's two largest economies before the 2020 US presidential election.

Domestic barometers advanced for a second consecutive trading session on Friday, amid media reports that the government may exempt the tax surcharge on foreign portfolio investors (FPIs). HDFC twins and ICICI Bank were the biggest contributors to the rise. Auto shares were in demand.

The barometer index, the S&P BSE Sensex, rose 254.55 points or 0.68% to 37,581.91, as per the provisional closing data. The Nifty 50 index rose 77.20 points or 0.70% to 11,109.65, as per the provisional closing data.

Broader markets strengthened. In the broader market, the S&P BSE Mid-Cap index rose 0.77%. The S&P BSE Small-Cap index gained 1%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1536 shares rose and 966 shares fell. A total of 154 shares were unchanged.

Media reports on Thursday suggested that the government may withdraw the foreign portfolio investors (FPIs) surcharge through a notification or ordinance. The government is working on a confidence-booster package for investors that included a re-thinking on the long-term capital gains tax, reports added.

Foreign investors have been selling extensively in the Indian equity market after the government announced levy of surcharge on super rich in the Union Budget. Finance minister Nirmala Sitharaman in her maiden Budget speech on 5 July 2019, proposed to enhance surcharge on individuals having taxable income from Rs 2 crore to Rs 5 crore and Rs 5 crore and above so that effective tax rates for these two categories will increase by around 3% and 7% respectively. The effective tax rate on the highest tax bracket goes up to 42.7% after the hike.

There are concerns that the increased surcharge on super-rich could also affect foreign funds investing in India since a same tax structures apply for individuals, Hindu Undivided Family (HUF) and Associations of Persons (AOPs). FPIs, including pension and retirement funds, educational endowment fund, etc, come in through trusts or AOPs route because it has been the most tax-efficient structure.

HDFC rose 1.59% to Rs 2215.80. HDFC Bank rose 1.96% to Rs 2279.30. ICICI Bank rose 1.54% to Rs 421.

ITC fell 1.36% to Rs 254.25.

BPCL (up 0.93%) ahead of its Q1 June 2019 result today.

Yes Bank slumped 8.02%. The bank announced opening of the qualified institutional placement issue at a floor price of Rs 87.90 per equity share. The announcement was made after market hours yesterday, 8 August 2019.

The capital raising committee of the bank's board of directors on Thursday authorised the opening of the issue on 8 August, Yes Bank said. The committee approved the floor price for the issue being Rs 87.90 per equity share and the committee may, at its discretion, offer a discount of not more than 5% on the floor price, it further added.

Yes Bank said in a notice to exchanges that a committee will meet on 14 August to consider and approve the issue price and final discount.

Most auto stocks rose. Eicher Motors (up 4.98%), Maruti Suzuki India (up 3.4%), TVS Motor Company (up 2.76%), Ashok Leyland (up 1.42%), Escorts (up 1.4%), Hero MotoCorp (up 1.33%) and Bajaj Auto (up 0.03%) advanced. Tata Motors was down 1.73%.

Mahindra & Mahindra rose 1.36%. The company said it will observe ''no production days'' for 8 - 14 days in various plants of the company and MVML during the second quarter of the financial year 2019-2020 to align its production with sales requirements. The management does not envisage any adverse impact on availability of vehicles in the market due to adequacy of vehicle stocks to serve the market requirements.

Most metal shares fell. Tata Steel (down 1.42%), JSW Steel (down 0.34%), Jindal Steel & Power (down 0.2%) and Hindustan Zinc (down 0.09%) declined.

Vedanta (up 2.02%), Hindustan Copper (up 0.46%), National Aluminium Company (up 0.34%) advanced.

Hindalco Industries fell 2.51%. The company's consolidated net profit fell 27.93% to Rs 1,063 crore on 3.56% decline in revenue from operations to Rs 29,972 crore in Q1 June 2019 over Q1 June 2018. The result was announced during trading hours today.

Tata Chemicals added 0.30% after consolidated net profit rose 16.38% to Rs 239.71 crore on 4.99% rise in total income to Rs 3015.90 crore in Q1 June 2019 over Q1 June 2018. The announcement was made after market hours yesterday, 8 August 2019.

Mahanagar Gas fell 4.52%. The company's net profit rose 32.66% to Rs 170.24 crore on 22.55% rise in total income to Rs 777.83 crore in Q1 June 2019 over Q1 June 2018. The announcement was made after market hours yesterday, 8 August 2019.

NBCC (India) slumped 12.61%. The company's consolidated net profit fell 37.9% to Rs 51.46 crore on 15.85% fall in total income to Rs 1942.28 crore in Q1 June 2019 over Q1 June 2018. The announcement was made after market hours yesterday, 8 August 2019.

Page Industries dropped 4.31%. The company's net profit fell 11.07% to Rs 110.67 crore on 2.19% rise in total income to Rs 840.46 crore in Q1 June 2019 over Q1 June 2018. The announcement was made after market hours yesterday, 8 August 2019.

Hexaware Technologies lost 1.35%. On a consolidated basis, the company's net profit rose 19.07% to Rs 164.89 crore on a 3.51% rise in the net sales to Rs 1308.34 crore in Q2 June 2019 over Q1 March 2019. The result was announced after market hours yesterday, 8 August 2019.

Adani Transmission gained 2.32%. On a consolidated basis, the private transmission company's net profit rose 26% to Rs 213.42 crore on a 360.5% rise in the net sales to Rs 2858.08 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 8 August 2019.

Earnings before interest tax depreciation and amortization (EBITDA) grew 20.57% to Rs 592 crore in Q1 June 2019 as compared to Rs 491 crore in Q1 June 2018. The company's net debt dropped 4.49% to Rs 1871 crore in Q1 June 2019 as compared to Rs 1959 crore in Q4 March 2018.

Rashtriya Chemicals & Fertilizers lost 1.73%. On a consolidated basis, the fertilizer producer's net profit fell 65.3% to Rs 7.98 crore on a 24% rise in the net sales to Rs 2409.48 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 8 August 2019.

Clariant Chemicals (India) jumped 14.71%. The specialty chemicals manufacturing company's net profit rose 16.9% to Rs 11.27 crore on a 11.9% rise in the net sales to Rs 295.81 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 8 August 2019.

Engineers India rose 2.96%. On a consolidated basis, the engineering consultancy company's net profit rose 40.5% to Rs 125.73 crore on a 27.4% rise in the net sales to Rs 742.66 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 8 August 2019.

Endurance Technologies jumped 13.71%. The company has reconsidered the proposal for expansion into tyre manufacturing and decided not to pursue the aforementioned project. The announcement was made after market hours yesterday, 8 August 2019.

Bodal Chemicals rose 4.23%. The company announced acquisition of 80% stake in Şen-Er Bova Kimya Tekstil Sanayi Ve Ticaret. The cost of the said acquisition is $ 4.5 million. The announcement was made after market hours yesterday, 8 August 2019.

Vodafone Idea lost 4.97%. The telecom major informed that Care Ratings, has downgraded its rating on long term bank facilities and non-convertible debentures from CARE A+ (Negative) to CARE A (Negative). The announcement was made after market hours yesterday, 8 August 2019.

Marico rose 2.40%. The company announced further infusion in the equity capital in Revofit such that it eventually holds upto 37% stake in the company. The announcement was made after market hours yesterday, 8 August 2019.

Britannia Industries rose 0.45%. On a consolidated basis, the company's net profit fell 2.78% to Rs 251.03 crore on a 5.93% rise in the net sales to Rs 2677.32 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 9 August 2019.

GMR Infrastructure rose 1.88%. The company announced raising of funds up to Rs. 2,500 crore in one or more tranche(s), through issue of equity shares or equity linked instruments, debentures or any other securities. The announcement was made after market hours yesterday, 8 August 2019.

Alembic Pharmaceuticals gained 3.24%. The pharmaceutical company announced that the company has received tentative approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Bimatoprost Ophthalmic Solution, 0.01%. Bimatoprost Ophthalmic Solution, 0.01 % has an estimated market size of US$ 704 million for twelve months ending December 2018 according to IQVIA. The announcement was made during market hours today, 9 August 2019.

Indiabulls Housing Finance jumped 16.35% while Lakshmi Vilas Bank hit 5% upper circuit at Rs 40.85. Media reports suggested that Indiabulls founder Sameer Gehlaut has promised the Reserve Bank of India (RBI) that he will relinquish all control and rights, have no say in the management, and bring the promoter group shareholding below 10% in the proposed bank to be formed after the merger of Indiabulls Housing Finance with Lakshmi Vilas Bank (LVB).

Spicejet gained 2.10%. On a consolidated basis, the aviation company reported a net profit of Rs 262.89 crore in Q1 June 2019 against a net loss of Rs 35.58 crore in Q1 June 2018. The total revenue from operations rose 35% to Rs 3002.85 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 9 August 2019.

Overseas, European stocks were trading lower while most Asian stocks ended higher on Friday supported by overnight gains in US stocks and better-than-expected macro-economic data from China.

China released data showing that food inflation soared in July. Meanwhile, Japan's economy grew more than expected in the quarter ending June.

China's consumer price index in July rose 2.8% on-year, according to data from the National Bureau of Statistics. In particular, food prices soared in July to 9.1% from a year ago, amid surging prices of pork as the country battles African swine fever.

Japan's economy saw its third straight quarterly expansion in April-June, growing at an annualized rate of 1.8% in the period, according to government data on Friday.

US stocks advanced on Thursday with technology shares providing the biggest boost as equities continued to rebound along with bond yields.

The market surged amid broad based buying support on Thursday. Shares rallied after media reports suggested that the government is likely to roll back recently-imposed higher tax on foreign portfolio investors (FPIs). Prime Minister Narendra Modi will address the nation at 20:00 IST tonight.

The Sensex ended above the 37,000 level while the Nifty crossed the 11,000 mark. Trading was volatile on account of expiry of weekly options contracts on the NSE.

The barometer index, the S&P BSE Sensex, rose 636.86 points or 1.74% to 37,327.36, as per the provisional closing data. The Nifty 50 index rose 176.95 points or 1.63% to 11,032.45, as per the provisional closing data.

In the broader market, the S&P BSE Mid-Cap index rose 0.42%. The S&P BSE Small-Cap index gained 0.74%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1382 shares rose and 1029 shares fell. A total of 149 shares were unchanged.

JSW Steel (up 4.99%), BPCL (up 3.93%), Yes Bank (up 2.99%) and Coal India (up 2.86%) advanced.

Cipla (down 2.78%) and Indiabulls Housing Finance (down 0.99%) declined.

Adani Enterprises gained 5.57%. The company's net profit jumped 611.4% to Rs 570.14 crore on 39.74% rise in net sales to Rs 10561.37 crore in Q1 June 2019 over Q1 June 2018.

Ultratech Cement slipped 2.70%. On a consolidated basis, the cement maker's net profit rose 91.10% to Rs 1,207.81crore on a 14.35% rise in the revenue from operations to Rs 10,177.63 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 8 August 2019.

Abbott India jumped 4.45%. The MNC associate reported 41.92% rise in the net profit to Rs 116.94 crore on a 18.22% increase in the revenue from operations to Rs 998.89 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 8 August 2019.

Cadila Healthcare rose 3.37%. The company said that it has received a letter from the U.S. FDA classifying the inspection conducted at the company's Moraiya facility located at Ahmedabad, Gujarat from 22 April 2019 to 3 May 2019 as 'Official Action Indicated' (OAI). The Company believes that this classification will not have any impact on the current supplies or revenues of this facility. The announcement was made after market hours yesterday, 7 August 2019.

Petronet LNG rose 2.12%. The company reported 7.2% fall in consolidated net profit to Rs 561.94 crore on 6.11% fall in total income to Rs 8719.52 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 7 August 2019.

Tata Steel lost 3.34%. The steel maker's consolidated net profit dropped 63.58% to Rs 710.50 crore on 1.16% rise in total income to Rs 36320.02 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 7 August 2019.

Tata Steel's consolidated earnings before interest tax depreciation and amortization (EBITDA) declined 21.7% to Rs 5530 crore in Q1 June 2019 over Q1 June 2018. The company's consolidated steel production rose 11% to 7.15 million tonnes.

The company stated that during Q1 June 2019, steel prices across geographies declined with weakening economic activities and uncertainty around the ongoing US-China trade conflict. This coincided with a sharp rise in iron ore prices due to supply disruptions and elevated coking coal costs. As a result, steel spreads dropped by around US$ 80-100 per tonne in key markets.

In India, steel prices declined as subdued economic activity, seasonal slowdown and liquidity issues weighed on domestic consumption. Higher net imports further exacerbated the demand supply balance.

In Europe, the steel industry faced significant headwinds in terms of lower economic growth, uncertainty around Brexit and the trade conflict. This coupled with rising share of imports and elevated raw material prices has led to a sharp declined in steel spreads.

Lemon Tree Hotels fell 7.13%. On a consolidated basis, the hotel chain company reported net loss of Rs 1.67 crore in Q1 June 2019 compared with net profit of Rs 2.29 crore in Q1 June 2018. Net sales rose 11% to Rs 140.93 crore in Q1 June 2019 over Q1 June 2018. The result was announced after trading hours yesterday, 7 August 2019.

KEC International fell 0.65%. On a consolidated basis, the infrastructure construction company's net profit rose 2% to Rs 88.61 crore on a 14.6% rise in the net sales to Rs 2412.45 crore in Q1 June 2019 over Q1 June 2018. The result was announced after trading hours yesterday, 7 August 2019.

Adani Green Energy gained 0.63%. On a consolidated basis, the solar power generation & manufacturing company reported net profit of Rs 0.52 crore in Q1 June 2019 compared with net loss of Rs 74.27 crore in Q1 June 2018. Net sales rose 39.9% to Rs 660.81crore in Q1 June 2019 over Q1 June 2018. The result was announced after trading hours yesterday, 7 August 2019.

The Phoenix Mills rose 1.15%. On a consolidated basis, the retail mall developer and operator's net profit rose 118.3% to Rs 130.39 crore on a 48.9% rise in the net sales to Rs 615.04 crore in Q1 June 2019 over Q1 June 2018. The result was announced after trading hours yesterday, 7 August 2019.

Punjab & Sind Bank fell 1.89%. The government-owned bank reported net loss of Rs 30.28 crore in Q1 June 2019 compared with net loss of Rs 398.02 crore in Q1 June 2018. Total income fell 4.2% to Rs 2237.91 crore in Q1 June 2019 over Q1 June 2018. The result was announced after trading hours yesterday, 7 August 2019.

NBCC (India) rose 4.47%. The civil engineering enterprise secured the total business of Rs 201.77 crore in June and July 2019. The announcement was made after market hours yesterday, 7 August 2019.

Shares of Affle (India) were at Rs 878.70, a premium of 17.95% over the initial public offer price of Rs 745. The stock debuted at Rs 929.90, a premium of 24.81% to the initial public offer (IPO) price. So far the stock hit a high of Rs 958.30 and low of Rs 751.05. On BSE, so far 8.45 lakh shares were traded on the counter.

Dilip Buildcon gained 2.94%. The promoters of the company, Dilip Suryavanshi, Devendra Jain and Ms. Seema Suryavanshi, have proposed to divest part of their shareholding in the company. The promoters will divest 0.63% of the total equity capital of the company aggregating upto 8.64 lakh shares. The stake sale in undertake in connection with manner of achieving minimum public shareholding. The announcement was made after market hours yesterday, 7 August 2019.

Auto stocks rose. Tata Motors (up 5.11%), Mahindra & Mahindra (up 4.16%), Escorts (up 3.82%), Ashok Leyland (up 3.35%), Hero MotoCorp (up 3.31%), Bajaj Auto (up 3.27%), TVS Motor Company (up 2.33%) and Eicher Motors (up 1.96%) advanced.

Maruti Suzuki India gained 1.75%. The car marker announced the production figures for the month of July 2019 after market hours yesterday, 7 August 2019. The company reported a 25.36% decline in the total production to 1.33 lakh units while the total passenger vehicles' production fell 25.60% to 1.30 lakh units.

As per reports, auto industry majors have met the Finance Minister Nirmala Sitharaman to seek stimulus package to spur demand. The auto leader have also requested for GST reduction, more liquidity and relaxation of credit facilities for retailers.

Most IT stocks rose. TCS (up 2.21%), Infosys (up 1.85%), Wipro (1.43%), Hexaware Technologies (up 1.29%) and Tech Mahindra (up 0.65%) advanced.

MindTree (down 0.23%), MphasiS (down 0.12%) and Persistent Systems (down 0.01%) declined.

HCL Technologies rose 6.08%.The IT major's consolidated net profit fell 12.54% to Rs 2,230 crore on a 2.73% increase in net sales to Rs 16,427 crore in Q1 June 2019 compared with Q4 March 2019. The result was announced after trading hours yesterday, 7 August 2019.

The firm's consolidated EBITDA also declined 5.4% to Rs 3,225 crore in Q1 June 2019 as against Q4 March 2019. The consolidated EBITDA margin grew to 23.2% in Q1 June 2019 from 22.4% in Q4 March 2019.

Oracle Financial Services Software fell 1.5%. On a consolidated basis, the IT services company's net profit rose 15.76% to Rs 377.39 crore on a 4.95% rise in the net sales to Rs 1275.1 crore in Q1 June 2019 over Q4 March 2019. The result was announced after trading hours yesterday, 7 August 2019.

Thermax rose 2.96%. The company's consolidated net profit rose 28.16% to Rs 62.76 crore on a 34.5% surge in net sales to Rs 1,392.45 crore in Q1 June 2019 compared with Q1 June 2018. The result was announced during market hours today, 8 August 2019.

Thermax Group had an order balance declined 18% to Rs 5,250 crore as of 30 June 2019 as against 30 June 2018. The firm's order booking was 26% lower at Rs 1,217 this quarter over the same quarter last fiscal year, on the account of slowdown in investment sentiment witnessed in both domestic and international markets.

Index major Reliance Industries (RIL) rose 4.42%. As per reports, RIL is partnering with US-based luxury jeweller Tiffany & Co to open a line of stores in the country. Tiffany plans to open stores in New Delhi and Mumbai in the second half of fiscal years 2019 and 2020 respectively, the report added.

HPCL rose 2.74%. The company's consolidated net profit declined 55.9% to Rs 877.48 crore on 5% increase in net sales to Rs 70776.43 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 7 August 2019.

On standalone basis, the company's consolidated net profit declined 52.8% to Rs 810.95 crore on 5% increase in net sales to Rs 70710.53 crore in Q1 June 2019 over Q1 June 2018.

The average gross refining margin was at $0.75 per barrel in Q1 June 2019 as against $7.15 per barrel in Q1 June 2018.

Aurobindo Pharma jumped 8.44%. The company's consolidated net profit jumped 41.6% to Rs 645.18 crore on 28.1% increase in net sales to Rs 5356.84 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 7 August 2019.

The company's earnings before interest tax depreciation and amortization (EBITDA) increased 47.1% to Rs 1146.4 crore in Q1 June 2019 compared with Rs 779.2 crore in Q1 June 2018. The EBITDA margin was at 21.1% in Q1 June 2019 as compared to 18.3% in Q1 June 2018.

Emami rose 1.07%. On a consolidated basis, the personal care & healthcare products company's profit after tax rose 47% to Rs 39 crore on a 6% rise in the revenue from operations to Rs 649 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 8 August 2019.

Ramco Industries rose 2.22%. The cement manufacturing company's consolidated net profit rose 10.8% to Rs 61.04 crore on a 2.4% decline in net sales to Rs 321.44 crore in Q1 June 2019 compared with Q1 June 2018. The result was announced after market hours yesterday, 7 August 2019.

Siemens advanced 4.12%. The company reported 21.35% rise in consolidated net profit to Rs 250.10 crore on 4.31% rise in total income to Rs 3300 crore in Q3 June 2019 over Q3 June 2018. The result was announced after market hours yesterday, 7 August 2019.

Jindal Steel & Power fell 2.34%. The company clarified that all speculations/rumors with respect to payment default are baseless and false in nature. The company strongly reiterates that it is on track to deliver its highest ever volumes this year and should be able to generate better returns for its stakeholders. The result was announced after market hours yesterday, 7 August 2019.

Overseas, European stocks were trading higher while most Asian stocks ended higher ahead of Chinese trade data, which could shed further light on the impact of Washington's protracted trade war between Washington and Beijing.

US stocks recovered from steep early losses on Wednesday as investors snapped up oversold shares and bond yields rebounded from significant lows that raised fears about a recession.

Key equity benchmarks ended the volatile session with steep losses on Wednesday, after the Reserve Bank of India (RBI) revised its growth forecast for the year to 6.9% from 7% estimated earlier. The Nifty slipped below the 10,900 level. Weakness in the metal, auto and banking stocks dragged the indices lower.

The barometer index, the S&P BSE Sensex, fell 286.35 points or 0.77% to 36,690.50, as per the provisional closing data. The Nifty 50 index fell 92.75 points or 0.85% to 10,855.50, as per the provisional closing data.

In the broader market, the S&P BSE Mid-Cap index fell 0.44%. The S&P BSE Small-Cap index lost 0.11%.

The market breadth turned negative from positive in late trade. On the BSE, 1107 shares rose and 1374 shares fell. A total of 160 shares were unchanged.

RBI after its monetary policy meeting today, 7 August 2019, cut the policy repo rate by 35 basis points to 5.75% with immediate effect.

On the basis of an assessment of the current and evolving macroeconomic situation, RBI's monetary policy committee (MPC) decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 35 basis points (bps) from 5.75% to 5.40% with immediate effect.

Consequently, the reverse repo rate under the LAF stands revised to 5.15%, and the marginal standing facility (MSF) rate and the bank rate to 5.65%. The MPC also decided to maintain the accommodative stance of monetary policy. These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.

The real GDP growth for 2019-20 is revised downwards from 7% in the June policy to 6.9% - in the range of 5.8-6.6% for H1:2019-20 and 7.3-5 to 7.5% for H2 - with risks somewhat tilted to the downside; GDP growth for Q1:2020-21 is projected at 7.4%.

The RBI reduced risk weight for consumer credit from 125% to 100%, except for credit card receivables. The exposure limit for single non-banking finance companies is raised to 20% from 15%. Bank lending to NBFCs for agriculture & SME loans eligible for priority sector classification.

Adani Ports and Special Economic Zone lost 0.84%. The company's consolidated net profit rose 46% to Rs 1011 crore on 16% increase in net sales to Rs 2794 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 7 August 2019.

Consolidated EBITDA increased 16% to Rs 1843 crore in Q1 June 2019 from Rs 1588 crore in Q1 June 2018 on the back of continued strong cargo volume growth. The EBITDA margin stood unchanged at 66% in Q1 June 2019.

The company reported cargo volume growth of 18% to 57 million metric tonnes (MMT) in Q1 June 2019 compared with 48 MMT in Q1 June 2018. Adani Ports and Special Economic Zone (APSEZ) handled record container volume of over 1.5 Million TEU's in Q1 June 2019.

Cipla rose 2.70%. The company's consolidated net profit rose 6% to Rs 478.19 crore on 1.26% increase in net sales to Rs 3,894.46 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 7 August 2019.

The company's earnings before interest tax depreciation and amortization (EBITDA) increased 25% to Rs 905 crore in Q1 June 2019 from Rs 726 crore in Q1 June 2018.

Reliance Industries lost 1.46%. The company and BP have agreed to form a new joint venture that will include a retail service station network and aviation fuels business across India. Building on Reliance's existing Indian fuel retailing network and an aviation fuel business, the partners expect the venture to expand rapidly to help meet the country's fast-growing demand for energy and mobility. The announcement was made after market hours yesterday, 6 August 2019.

NLC India fell 1.26%. On a consolidated basis, the power generation company's net profit fell 18.6% to Rs 288.94 crore on a 14.6% fall in the net sales to Rs 2082.21 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 6 August 2019.

In a separate announcement, NLC India said that its board has decided not to pursue the setting up of pilot plant for coldry matmor integrated project on R&D collaborative mode as agreed to between NLCIL, NMDC & ECT Australia vide MoU signed on 30 May 2018, in view of ECT's withdrawal of Mou and subsequent NMDC's decision not to go ahead with the proposal. The announcement was made after market hours yesterday, 6 August 2019.

Nilkamal jumped 7.03%. On a consolidated basis, the plastic products manufacturer's net profit fell 7.5% to Rs 31.07 crore on a 8.3% fall in the net sales to Rs 536.48 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 6 August 2019.

Sheela Foam gained 1.85%. On a consolidated basis, the polyurethane foam manufacturer's net profit rose 18.8% to Rs 38.72 crore on a 2.4% rise in the net sales to Rs 514.24 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 6 August 2019.

Mayur Uniquoters slumped 7.36%. On a consolidated basis, the artificial leather manufacturer's net profit fell 57.4% to Rs 9.74 crore on a 9.2% fall in the net sales to Rs 127.35 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 6 August 2019.

JSW Energy rose 3.91%. On a consolidated basis, the power producing company's net profit rose 6.6% to Rs 244.38 crore on a 2.2% rise in the net sales income to Rs 2412.17 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 6 August 2019.

Deccan Cements gained 4.20%. The cement manufacturer's net profit rose 105.6% to Rs 23.33 crore on a 12.6% rise in the net sales to Rs 182.05 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 6 August 2019.

JK Lakshmi Cement lost 1.36%. On a consolidated basis, the cement company's net profit rose 841.7% to Rs 71.57 crore on a 9.3% rise in the net sales to Rs 1136.32 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 6 August 2019.

IRB Infrastructure Developers rose 1.57%. On a consolidated basis, the construction company's net profit fell 17.4% to Rs 206.62 crore on a 15.3% rise in the net sales to Rs 1773.04 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 6 August 2019.

In a separate announcement, IRB Infrastructure Developers said that investment by affiliates of GIC, Singapore's sovereign wealth fund, in its road platform. As part of the transaction, IRB will transfer 9 of its BOT assets into a private Infrastructure Investment Trust in which IRB will hold controlling stake of 51%. The Portfolio spans across c.1,200 kms in Haryana, Uttar Pradesh, Rajasthan & Gujarat, Maharashtra and Karnataka. The board of the company has approved the deal, following which IRB signed binding definitive agreements with GIC for a total investment of up to Rs 4,400 crore, including funding of future construction costs. The announcement was made after market hours yesterday, 6 August 2019.

Most metal stocks declined. Jindal Steel & Power (down 9.39%), Steel Authority of India (down 3.33%), Vedanta (down 2.73%), NMDC (down 2.67%), National Aluminium Company (down 2.38%), JSW Steel (down 2.34%), Hindalco Industries (down 2.21%) and Hindustan Copper (down 1.12%) declined. Hindustan Zinc was 1.78%.

Tata Steel fell 4.58%. The steel major announced termination of equity stake in Tata Steel (Thailand) Public Company and NatSteel Holdings as HBIS Group have not been able to procure the requisite approvals from the Hebei Government, one of the key conditions precedent for the proposed stake sales. The company has begun engagement with other investors in continuation of its strategy to find a partner for the South-East Asian business. The announcement was made after market hours yesterday, 6 August 2019.

Borosil Glass Works lost 1.71%. On a consolidated basis, the glassware company's net profit fell 10.6% to Rs 9.40 crore on a 11.3% rise in the net sales to Rs 172.85 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 6 August 2019.

Avenue Supermarts fell 3.91%. The company announced that its promoter, Radhakishan Damani, intends to sell 62.30 lakh equity shares, or 1% stake, to comply with the requirements of minimum public shareholding. Damani will sell his shares between 8 to 14 September 2019. The announcement was made after market hours yesterday, 6 August 2019.

Most public sector bank shares declined. Bank of Baroda (down 6.14%), Punjab National Bank (down 5.74%), Bank of India (down 4.72%), State Bank of India (down 3.5%), Union Bank of India (down 3.43%), IDBI Bank (down 2.84%), Canara Bank (down 2.8%), Andhra Bank (down 2.72%), Indian Bank (down 1.35%), UCO Bank (down 1.23%), Allahabad Bank (down 1.08%), Syndicate Bank (down 0.78%) and Bank of Maharashtra (down 0.33%) declined.

Punjab & Sind Bank (up 1.27%) and Corporation Bank (up 0.96%) advanced.

Central Bank of India jumped 13.22%. The bank reported a net profit of Rs 118.33 crore in Q1 June 2019 as compared to a loss of Rs 1522.24 crore in Q1 June 2018. The result was announced after market hours yesterday, 6 August 2019.

The bank's total income rose 10% to Rs 6493.55 crore in Q1 June 2019 over Q1 June 2018. The bank's gross non-performing assets (NPAs) stood at Rs 32900.44 crore as on 30 June 2019 as against Rs 32356.04 crore as on 31 March 2019 and Rs 38777.66 crore as on 30 June 2018.

The ratio of gross NPAs to gross advances stood at 19.93% as on 30 June 2019 as against 19.29% as on 31 March 2019 and 22.17% as on 30 June 2018. The ratio of net NPAs to net advances stood at 7.98% as on 30 June 2019 as against 7.73% as on 31 March 2019 and 10.58% as on 30 June 2018.

The bank's provisions and contingencies declined 62.61% to Rs 1034.78 crore in Q1 June 2019 over Q1 June 2018. The provision coverage ratio of the bank increased to 76.85% in Q1 June 2019 from 66.42% in Q1 June 2018.

Most private bank shares fell. RBL Bank (down 8.08%), Axis Bank (down 3.01%), Federal Bank (down 1.53%), ICICI Bank (down 0.45%), Kotak Mahindra Bank (down 0.42%) and HDFC Bank (down 0.1%) declined. City Union Bank (up 3.86%) and IndusInd Bank (up 0.82%) advanced.

Yes Bank rose 2.11% after the media reported that the bank may launch a qualified institutional placement later this week. According to media reports, Yes Bank may raise up to $500 million from the qualified institutional placement (QIP) issue. Private equity players and key institutional investors, including HDFC AMC, will be lining up for the issue, reports added.

Fortis Healthcare fell 1.16%. On a consolidated basis, the healthcare services company reported a net profit of Rs 58.31 crore in Q1 June 2019 over a net loss of Rs 71.85 crore in Q1 June 2018. Net sales rose 9.2% to Rs 1138.31 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 6 August 2019.

Vodafone Idea lost 4.96% to Rs 5.37. The telecom major said that CRISIL had downgraded its rating from CRISIL A+ (Negative) to CRISIL A (Negative) on the company's non-convertible debentures worth Rs. 3500 crore. The announcement was made after market hours yesterday, 6 August 2019.

Stocks of most housing finance companies fell. Dewan Housing Finance Corporation (down 10.02%), HDFC (down 0.85%), PNB Housing Finance (down 0.55%), GRUH Finance (down 0.38%) and GIC Housing Finance (down 0.02%) declined.

LIC Housing Finance (up 1.84%) and Can Fin Homes (up 0.22%) advanced.

Indiabulls Housing Finance slumped 13.23%. The company's consolidated net profit dropped 24.01% to Rs 801.53 crore on 4.55% fall in total income to Rs 3886.12 crore in Q1 June 2019 over Q1 June 2018.The result was announced after market hours yesterday, 6 August 2019.

The housing finance company's gross NPAs stood at 1.47% and net NPAs stood at 1.1% of total advances in Q1 June 2019.

The company's board has also authorised to issue Secured Non-Convertible Debentures and Unsecured, Redeemable, Non-Convertible Subordinate Debt in the nature of Debentures (NCDs) upto Rs 25000 crore and Rs 1000 crore respectively, on private placement basis, in one or more tranches, from time to time.

Most auto stocks declined. Ashok Leyland (down 3.86%), Tata Motors (down 3.59%), TVS Motor Company (down 3.22%), Eicher Motors (down 3.1%), Escorts (down 3%), Maruti Suzuki India (down 0.89%) and Bajaj Auto (down 0.2%) declined.Hero MotoCorp was up 1.52%.

Mahindra & Mahindra fell 5.43%. The company's combined profit from ordinary activities after tax rose 80% to Rs 2260 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 7 August 2019.

The company said combined revenues and other income fell 4% to Rs 12997 crore. Combined operating profit margin (OPM) was reported at 14% in Q1 June 2019, lower than 15.8% in Q1 June 2018.

The results for M&M include the combined results of Mahindra and Mahindra (M&M) and Mahindra Vehicle Manufacturers (MVML), which is a manufacturing unit of M&M.

Tractor demand in Q1 June 2019 remained sluggish and was adversely impacted due to a weak sentiment in the agro-economy resulting from the delay in seasonal monsoon, poor spatial distribution in June and weak agricultural incomes impacted by poor price realization. In Q1 June 2019, the domestic tractor industry declined by 14.6% with sales of 1,91,305 tractors, against 2,23,937 tractors sold during

Lupin gained 3.82%. the drug maker's consolidated net profit rose 49.46% to Rs 303.05 crore on 15.4% increase in net sales to Rs 4355.83 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 7 August 2019.

Overseas, European stocks were trading higher while Asian stocks ended mixed on Wednesday as investors digested the Chinese central bank's daily midpoint fix for its currency's exchange rate against the dollar. The People's Bank of China (PBOC) set the the official midpoint reference for the yuan at 6.9996 per dollar. China's central bank allows the exchange rate to rise or fall 2% from that number.

US stocks rallied Tuesday after six days of declines as China stepped in to stabilize the yuan, easing concerns that currencies would be the next weapon in the US-China trade war.

Investors took fright Monday as China allowed the yuan to slump to its lowest level in a decade after President Donald Trump's threat last Thursday to impose 10% tariffs against an additional $300 billion of imported Chinese goods, effective 1 September.

The market edged higher on Tuesday, as investors awaited the central bank's monetary policy decision scheduled on Wednesday. The Nifty trimmed gains after briefly crossing 11,000 mark as profit booking emerged at higher levels.

The Reserve Bank of India (RBI)'s third bi-monthly monetary policy committee (MPC) meeting started on 5th August. The resolution of the MPC will be placed on the RBI website at 11:45 IST on 7 August.

The barometer index, the S&P BSE Sensex, rose 277.01 points or 0.75% to 36,976.85, as per the provisional closing data. The Nifty 50 index rose 85.65 points or 0.79% to 10,948.25, as per the provisional closing data.

In the broader market, the S&P BSE Mid-Cap index rose 1.44%. The S&P BSE Small-Cap index rose 1.72%.

The market breadth was strong. On the BSE, 1627 shares rose and 821 shares fell. A total of 118 shares were unchanged.

Reliance Industries slipped 1.76% to Rs 1122.85. TCS fell 1.50% to Rs 2214.90. Infosys shed 0.23% to Rs 775.

ICICI Bank rose 2.07% to Rs 410.95. HDFC gained 1.53% to Rs 2186. Kotak Mahindra Bank rose 1.62% to 1484. L&T gained 2.01% to Rs 1372.80.

Indiabulls Housing Finance jumped 7.34% ahead of its Q1 result today, 6 August 2019.

Titan Company gained 0.12%. The company's consolidated net profit rose 10.84% to Rs 3637.4 crore on 15.62% rise in net sales to Rs 50951 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 6 August 2019.

Pidilite Industries rose 2.78%. The company's consolidated net profit rose 21.17% to Rs 294.27 crore on 9.96% rise in net sales to Rs 2016.81 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 6 August 2019.

Wipro fell 1.22%. Wipro announced that Designit, its strategic design arm, has opened a new studio in Sydney to expand its Australian operations and meet growing business requirements in the region. The announcement was made after market hours yesterday, 5 August 2019.

Berger Paints India rose 3.93%. The company's consolidated PBDIT (Profit before Depreciation, Interest, Tax and Other Income) rose 27.5% to Rs 305.20 crore on 15.7% rise in revenue from operations to Rs 1716.5 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market yesterday, 5 August 2019.

SRF jumped 13.85%. The company's consolidated profit after tax (PAT) rose 41% to Rs 189 crore on 9% rise in revenue to Rs 1828 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market yesterday, 5 August 2019.

Muthoot Finance rose 1.36%. A meeting of the board of directors of Muthoot Finance is scheduled to be held on 12 August 2019 to consider raising of funds in the form of loans including bank loans or by issuance of foreign currency bonds or rupee denominated bonds overseas on public/private basis in international markets. The announcement was made after market hours yesterday, 5 August 2019.

Metal stocks rose. Hindalco Industries (up 2.78%), National Aluminium Company (up 2.67%), NMDC (up 2.6%), Jindal Steel & Power (up 2.14%), Hindustan Copper (up 2.13%), Steel Authority of India (up 1.38%), Hindustan Zinc (up 0.74%), Tata Steel (up 0.73%), Vedanta (up 0.28%) and JSW Steel (up 0.05%) advanced.

Jindal Stainless rose 5.88%. On a consolidated basis, the stainless steel makers's net profit fell 72.9% to Rs 33.29 crore on a 3% fall in the net sales to Rs 3263.32 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 5 August 2019.

The company also announced the issue of non-convertible debentures (NCDs) of upto Rs 900 crore on private placement basis primarily to refinance existing debt/convertible instruments. The announcement was made after trading hours yesterday, 5 August 2019.

Dilip Buildcon fell 1.47%. On a consolidated basis, the construction company's net profit fell 54.9% to Rs 100.42 crore on a 3.4% fall in the net sales to Rs 2436.44 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 5 August 2019.

Indian Hotels rose 4.85%. On a consolidated basis, the hospitality company's net profit fell 24.3% to Rs 4.90 crore on a 4.1% rise in the net sales to Rs 1020 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 5 August 2019.

KEI Industries rose 5.69%. On a consolidated basis, the electrical cable and wire manufacturer's net profit rose 41.9% to Rs 45.72 crore on a 22% rise in the net sales to Rs 1081.36 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 5 August 2019.

Torrent Power rose 4.21%. On a consolidated basis, the company's net profit rose 21.9% to Rs 275.27 crore on a 5.9% rise in the net sales to Rs 3736.13 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 5 August 2019.

Tata Power rose 2.42%. The company's wholly owned subsidiary, Tata Power Solar, has commissioned 70kW solar rooftop installation at the eminent India International Centre. The announcement was made after market hours yesterday, 5 August 2019.

Mangalam Cement hit 20% upper circuit at Rs 263.25. The cement maker reported net profit of Rs 33.22 crore in Q1 June 2019 over a net loss of Rs 15.32 crore in Q1 June 2018. The net sales rose 30.8% to Rs 333.16 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 5 August 2019.

Entertainment Network (India) fell 3.59%. On a consolidated basis, the company's net profit fell 58.7% to Rs 3.85 crore on a 10.6% rise in the net sales to Rs 130.52 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 5 August 2019.

Sun Pharmaceutical Industries rose 0.31%. With reference to media reports titled, 'Sun Pharma shuts two clinical units in Vadodara for cost efficiency,' the company clarified that to ensure optimal utilisation of clinical pharmacology units (CPUs) that conduct bioequivalence studies, it has discontinued operations at two of its centers at Tandalja & Akota, Vadodara on 2 August 2019. The bio-equivalence studies from these centers will be transferred to other facilities. The company is offering full support to the affected employees and helping them with outplacement services. While Sun Pharma continues to make investments in its R&D operations, it constantly evaluates its resources and future capacity requirements to bring in efficiencies in cost and processes. The announcement was made during market hours today, 6 August 2019.

IOL Chemicals & Pharmaceuticals rose 6.05%. The pharmaceutical company said that it has made the pre-payment of term loan of Rs 14 crore due to banks in addition to regular repayment schedule. Thus the company made the pre-payment of term loan of aggregate amount of Rs 98.18 crore till date to reduce the debt of the company. The announcement was made after market hours yesterday, 5 August 2019.

Nath Bio-Genes (India) rose 2.78%. The company's net profit rose 35.6% to Rs 35.26 crore on a 30.2% surge in net sales to Rs 165.32 crore in Q1 June 2019 over Q1 June 2018. The result was declared after trading hours yesterday, 5 August 2019.

Granules India rose 2.68%. The drug maker announced that the US Food & Drug Administration (US FDA) has approved the abbreviated new drug application (ANDA) filed by Granules Pharmaceuticals, Inc., a wholly owned foreign subsidiary of the company for Amphetamine Sulfate Tablets USP 5 mg and 10 mg. It is bioequivalent to the reference listed drug product (RLD), Evekeo Tablets, 5 mg and 10 mg, of Arbor Pharmaceuticals, LLC. The announcement was made during market hours today, 6 August 2019.

Yes Bank gained 4.69%. The bank announced after market hours yesterday, 5 August 2019, ratings update by Moody's and Brickwork.

Moody's Investor Service has extended its review for downgrade of the bank's Ba1 long‐term foreign‐currency issuer rating. The review for downgrade was initiated on 11 June 2019, reflecting Moody's expectation that the ongoing liquidity pressures on Indian finance companies will negatively impact Yes Bank's credit profile, given the bank's sizeable exposure to weaker companies in the sector.

Brickwork Ratings has downgraded the rating of the bank's Lower Tier II Bonds from 'BWR AA' to 'BWR AA-', Upper Tier II Bonds, Hybrid Tier I Bonds, Innovative Perpetual Debt Instruments from 'BWR AA-' to 'BWR A+'. The outlook continues to remain Negative.

The rating revision factors, higher than expected deterioration in asset quality with gross NPAs increased to 5.01% in Q1 FY20 as compared to 3.22% at the end of FY19 and the stressed assets in the portfolio remaining at elevated levels that could continue to put pressure on the asset quality. The rating is also constrained by the delay in raising capital resulting in the restricted growth in the lending portfolio.

Jammu & Kashmir Bank hit 10% upper circuit at 37.50. India Ratings and Research has downgraded Jammu & Kashmir Bank's (JK Bank) Long-Term Issuer Rating to 'IND AA-' from 'IND AA' while placing it on Rating Watch Negative (RWN). The Outlook on the earlier rating was Negative.

J&K Bank was majority owned by the state government of J&K (59.2%) and plays a significant role in the economy of J&K state. Ind-Ra will resolve the RWN once it attains further clarity on the impact of the said announcement on the profile of JK Bank.

Dewan Housing Finance Corporation jumped 32.30%. The company said that the Special Committee for Resolution Plan at its meeting held today i.e. on Tuesday, 6 August, 2019, took on record the draft 'Resolution Plan' formulated by the company in consultation with the committee and its financial advisors and also approved the submission of the said resolution plan to the lenders of the company.

Some of the features of the draft 'Resolution Plan' are no principal haircuts to any creditors, measures towards addressing aligning asset-liability mismatch, moratorium on repayments and funding plans for starting the retail funding activity. The announcement was made during market hours today, 6 August 2019.

Kolte-Patil Developers jumped 13.89% after the company announced its Q1 June 2019 result during market hours today, 6 August 2019. On a consolidated basis, Kolte-Patil Developers's net profit rose 205.51% to Rs 115.88 crore on a 49.96% rise in the revenue from operations to Rs 585.68 crore in Q1 June 2019 over Q1 June 2018.

Minda Industries gained 2.46% after the company announced its Q1 June 2019 result during market hours today, 6 August 2019. On a consolidated basis, Minda Industries' net profit fell 23.65% to Rs 53.48 crore on a 0.69% rise in the revenue from operations to Rs 1439.75 crore in Q1 June 2019 over Q1 June 2018.

Aditya Birla Fashion and Retail rose 6.97% after the company announced its Q1 June 2019 result during market hours today, 6 August 2019. Aditya Birla Fashion and Retail's net profit rose 285% to Rs 21.56 crore on a 7.94% rise in the revenue from operations to Rs 2065.46 crore in Q1 June 2019 over Q1 June 2018.

Most auto stocks rose. Escorts (up 3.82%), Eicher Motors (up 3.09%), Maruti Suzuki India (up 2.8%), Hero MotoCorp (up 2.68%), TVS Motor Company (up 1.01%) and Mahindra & Mahindra (up 0.48%) advanced.

Tata Motors (down 1.05%), Ashok Leyland (down 0.86%) and Bajaj Auto (down 0.39%) declined.

Overseas, most European stocks were trading higher. Asian stocks fell across the board Tuesday as the US-China trade war intensified, after Beijing confirmed it is suspending agricultural product purchases in response to new American tariffs. The Chinese Ministry of Commerce said Chinese companies have stopped purchasing American agricultural products in response to Trump's latest salvo and added it would not rule out tariffs on newly purchased agricultural goods after August 3. For its part, China is one of the largest buyers of U.S. agriculture.

China's yuan fell to a record low to the dollar on Monday. China's central bank said that the depreciation was due to the effects of unilateralist and trade-protectionist measures and the expectations for tariffs against China. People's Bank of China Governor Yi Gang said that China won't engage in competitive devaluation and that the decline was due to market forces.

US stocks suffered their biggest one-day decline of 2019 on Monday as China allowed its currency to fall to a more-than-10-year low versus the dollar after President Donald Trump rattled markets by announcing additional tariffs on Chinese goods late last week. President Donald Trump said last week the US is putting 10% tariffs on another $300 billion worth of Chinese goods starting September 1.

US Treasury Secretary Steven Mnuchin said on Monday the government had determined that China is manipulating its currency, and that Washington would engage with the International Monetary Fund to eliminate unfair competition from Beijing.

The People's Bank of China (PBOC) denied Washington's allegations of currency manipulation, and set its yuan fixing at 6.9683 per dollar, below the important line of 7 per dollar that it had breached on Monday.

The PBOC said in a statement on Tuesday that the label “seriously undermines international rules and will have a major impact on global finance and economy.”

In economic data, the Institute for Supply Management said its nonmanufacturing, or services, index fell to 53.7% in July from 55.1% in June. The reading was the lowest since August 2016. A reading of more than 50 indicates expansion in activity.

Key equity benchmarks tumbled on Monday, after a recovery in the previous trading session. Tensions in Jammu and Kashmir (J&K), coupled with weak global cues spoiled investors sentiment. Weakness in the banking, metal and auto stocks dragged the indices lower.

The barometer index, the S&P BSE Sensex, fell 418.38 points or 1.13% to 36,699.84, as per the provisional closing data. The Nifty 50 index fell 138.70 points or 1.26% to 10,858.65, as per the provisional closing data.

In the broader market, the S&P BSE Mid-Cap index fell 1.26%. The S&P BSE Small-Cap index fell 1.69%.

The market breadth was weak. On the BSE, 736 shares rose and 1685 shares fell. A total of 142 shares were unchanged.

The Union Government on Monday moved a resolution in Rajya Sabha to scrap Article 370 of the Constitution that gives special status to Jammu and Kashmir. President Ram Nath Kovind issued a notification- The Constitution (Application to Jammu and Kashmir) Order, 2019 that will come into force immediately. The order is set to supersede the Constitution (Application to Jammu and Kashmir) Order, 1954 as amended from time to time.

The government also moved a bill proposing division of the state of Jammu and Kashmir into two union territories- Jammu and Kashmir division and Ladakh. Amit Shah in Rajya Sabha said the union territory in Ladakh will have no legislature while the union territory of Jammu and Kashmir will have a legislature like Delhi and Puducherry.

At least 8,000 paramilitary troops have been airlifted to J&K from different parts of the country today. The Army and the Air Force have been put on high alert, the media reported.

On the economic front, the IHS Markit India Services Business Activity Index rose to 53.8 in July from 49.6 in June, pointing to the quickest increase in output in one year. Four of the five monitored subsectors posted expansion, the sole exception being Real Estate & Business Services.

Meanwhile, Finance Minister Nirmala Sitharaman will hold a series of meetings this week to take stock of the economy which has witnessed a downturn in recent quarters, Finance Secretary Rajiv Kumar told the media on Monday.

On Tuesday, Sitharaman will meet representatives of micro, small and medium enterprises (MSME) sector. On 7 August, Sitharaman will meet business leaders from the automobile sector. Transport Minister Nitin Gadkari will also participate in the meeting.

On 8 August, the Finance Minister is scheduled to meet industry bodies. A day later, she will meet financial market chiefs from the BSE India, the National Stock Exchange of India (NSE) and mutual fund houses. On 11 August, Sitharaman will meet with representatives from the real estate industry and home buyers. All the meetings will be attended by union ministers of the concerned sectors.

On the equity front, Bharti Airtel (up 4.53%), Tech Mahindra (up 2.15%), Coal India (up 1.57%), Tata Consultancy Services (up 1.57%) and HDFC (up 1.27%) advanced.

UPL (down 5.86%), Power Grid Corporation of India (down 4.70%), Grasim Industries (down 3.98%), GAIL (India) (down 3.88%) and Zee Entertainment Enterprises (down 3.34%) declined

FMCG major Nestle India gained 2.40%. The company's net profit rose 10.8% to Rs 437.84 crore on 11.4% rise in net sales to Rs 2982.83 crore in Q2 June 2019 over Q2 June 2018. The result was announced after market hours on Friday, 2 August 2019.

Domestic sales increased by 13.1% in Q2 June 2019 largely driven by volume & mix while company's export dropped by 13.9% in Q2 June 2019 primarily due to lower coffee exports to Turkey. The company also announced that it will start construction of its ninth factory in India. The factory for 'Maggi Noodles' will involve an initial investment of nearly Rs 700 crore over the next two years is located in Gujarat.

ITC fell 1.89%. The company's net profit rose 12.6% to Rs 3173.94 crore on 6% rise in net sales to Rs 11,361.35 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 2 August 2019.

On consolidated basis, ITC's consolidated net profit rose 12.8% to Rs 3355.01 crore on 6.7% rise in net sales to Rs 12532.31 in Q1 June 2019 over Q1 June 2018.

The company reported that it has posted a steady performance during the quarter amid sluggish demand conditions. ITC's flagship cigarette business grew 6% to Rs 5433.4 crore in Q1 June 2019 over Q1 June 2018.

Reliance Industries slipped 3.42%. The company said that its wholly-owned subsidiary, Reliance Industrial Investments and Holdings (RIIHL), has entered into an agreement for acquisition of equity shares of Shopsense Retail Technologies for a cash consideration not exceeding Rs 295.25 crore. RIIHL has an option to further invest an amount of up to Rs 100 crore which is likely to be completed by December 2021. The total investment will translate into approximately 87.6% of equity share capital in Fynd on a fully diluted and converted basis. The announcement was made on Saturday, 3 August 2019.

A foreign brokerage has reportedly downgraded the stock to 'Underperform' from 'Neutral' and cut price target to Rs 995 from Rs 1,350.

Metal shares fell. Jindal Steel & Power (down 5.48%), Hindustan Copper (down 3.46%), JSW Steel (down 3.44%), NMDC (down 3.37%), Hindustan Zinc (down 3.2%), Tata Steel (down 2.77%), Hindalco Industries (down 2.72%), Steel Authority of India (down 2.69%), Vedanta (down 2.13%) and National Aluminium Company (down 1.94%) declined.

Private sector bank shares fell. Yes Bank (down 8.15%), RBL Bank (down 4.53%), Kotak Mahindra Bank (down 3.25%), City Union Bank (down 2.83%), ICICI Bank (down 1.91%), Axis Bank (down 1.66%), HDFC Bank (down 1.62%), IndusInd Bank (down 0.4%) and Federal Bank (down 0.29%) declined.

Public sector bank shares fell. Bank of Maharashtra (down 4.21%), State Bank of India (down 2.67%), Central Bank of India (down 2.56%), Allahabad Bank (down 2.52%), Indian Bank (down 2.34%), Canara Bank (down 1.98%), Bank of Baroda (down 1.76%), Punjab National Bank (down 1.48%), Bank of India (down 1.29%), Syndicate Bank (down 1.09%), Corporation Bank (down 0.92%), IDBI Bank (down 0.71%), UCO Bank (down 0.62%), United Bank of India (down 0.42%) and Union Bank of India (down 0.08%) declined. Andhra Bank was up 2.81%.

The Reserve Bank of India (RBI) has imposed monetary penalty on seven banks for non-compliance with certain provisions of directions issued by RBI on Code of Conduct for Opening and Operating Current Accounts, Opening of Current Accounts by Banks - Need for Discipline, Discounting/ Rediscounting of Bills by Banks, Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016, End Use of Funds - Monitoring and Deposits on Balance Sheet Date.

These include Allahabad Bank (Rs 2 crore), Bank of Baroda (Rs 1.5 crore), Bank of India (Rs 1.5 crore), Bank of Maharashtra (Rs 2 crore), Indian Overseas Bank (Rs 1.5 crore), Oriental Bank of Commerce (Rs 1 crore) and Union Bank of India (Rs 1.5 crore). The penalties have been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949, taking into account the failure of the banks to adhere to the aforesaid directions issued by RBI. This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers.

Jammu & Kashmir Bank lost 2.84%. The bank's net profit declined 58.4% to Rs 21.87 crore on 18.9% rise in total income to Rs 2256.25 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 3 August 2019.

The bank's gross non-performing assets (NPAs) stood at Rs 6030.84 crore as on 30 June 2019 as against Rs 6221.35 crore as on 31 March 2019 and Rs 6241.67 crore as on 30 June 2018. The ratio of gross NPAs to gross advances stood at 8.48% as on 30 June 2019 as against 8.97% as on 31 March 2019 and 9.83% as on 30 June 2018.

The bank's provisions and contingencies rose 15% to Rs 293.21 crore in Q1 June 2019 from Rs 255.01 crore in Q1 June 2018. The bank reported a provision coverage ratio of 66.61% as on 30 June 2019. The bank's capital adequacy ratio (Basel III) declined to 11.76% in Q1 June 2019 from 12.42% in Q1 June 2018.

Punjab & Sind Bank lost 3.86%. The bank announced, after market hours on Friday, 2 August 2019, that on determination and disclosures of material events, an NPA Account, viz. Fairdeal Supplies with outstanding dues of Rs 40.49 crore has been declared as fraud and reported to RBl as per regulatory requirement. Bank is in the process of filing of Complaint / FIR with Central Bureau of Investigation.

In a separate announcement on Saturday, 3 August 2019, the bank said that the Reserve Bank of India has imposed a penalty of Rs 1 crore on it for delay in reporting fraud in Kingfisher Airlines.

In a separate announcement on Saturday, 3 August 2019, the bank announced that Director, FIU -IND in exercise of powers conferred under the Prevention of Money Laundering Act, 2002 has imposed a penalty of Rs 2.87 crore on the bank for non compliance of the Money Laundering (Maintenance of Records) Rules, 2005.

Tata Power lost 2.20% while Tata Motors slipped 4.79%. Tata Power announced that it has partnered with Tata Motors to install 300 fast charging stations by the end of the FY2020, across key five cities namely Mumbai, Delhi, Pune, Bangalore and Hyderabad. Today, both companies inaugurated their first 7 charging stations in Pune, to enable the e-mobility drive in the city. Over the next two months, 45 more chargers will be installed across the other four cities. These chargers will be installed at Tata Motors dealerships, certain Tata Group retail outlets and other public locations. The announcement was made on Saturday, 3 August 2019.

Tata Communications fell 1%. On a consolidated basis, the company reported a net profit of Rs 76.61 crore in Q1 June 2019 compared with a net loss of Rs 58.49 crore Q1 June 2018. The income from operations rose 5.7% to Rs 4168.62 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 2 August 2019.

Jubilant Life Sciences fell 3.74%. The company announced that it has issued commercial papers of Rs. 40 crore on 2 August 2019. The announcement was made after market hours on Friday, 2 August 2019.

Anuh Pharma lost 1.14%. The drug company announced that it has received approval from WHO Geneva Prequalification that the Prequalification Inspection Group has recommended that the API's Pyrimethamine, Pyrazinamide and Sulfadoxine can be considered to be compliant with the standards of Good Manufacturing Practices (GMP) for Active Pharmaceutical Ingredients (APis) published by the World Health Organisation (WHO) for manufacturing and packaging of APis by chemical synthesis. The announcement was made on Saturday, 3 August 2019.

Laurus Labs slumped 5.38%. On a consolidated basis, the pharma company reported a 3.6% rise in the net profit to Rs 15.731 crore on a 2.14% increase in the revenue from operations to Rs 550.56 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 2 August 2019.

Lupin shed 1.12%. The pharma major announced the receipt of the Establishment Inspection Report (EIR) from the U.S. FDA for its Aurangabad facility. The facility was inspected by the U.S. FDA between May 6, 2019 and May 15, 2019. Lupin's Aurangabad facility is involved in the manufacture of Oral Solid Dosage, Oral Liquid and Powder for Oral Suspension products for the US Market, WHO/Global Institution markets and the India market. The announcement was made during market hours today, 5 August 2019.

Aditya Birla Capital rose 3.13% after consolidated net profit rose 26.89% to Rs 269.85 crore on 19.13% rise in total income to Rs 3711.79 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 2 August 2019.

Bata India rose 4.53%. The company's consolidated net profit rose 22.52% to Rs 100.97 crore on 11.08% rise in total income to Rs 899.62 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 2 August 2019.

Deepak Nitrite lost 1.81% after consolidated net profit rose 601.55% to Rs 131.61 crore on 128.64% rise in total income to Rs 1062.57 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 2 August 2019.

Adani Power fell 5.37%. The private sector thermal power producer, announced the completion of acquisition of GMR Chhattisgarh Energy (GCEL), which owns and operates a 1,370 MW (2 X 685 MW) supercritical power plant at Raikheda village, in Raipur District of Chhattisgarh. The acquisition of GCEL was concluded at an Enterprise Valuation of approx. Rs. 3.530 crore. The announcement was made after market hours on Friday, 2 August 2019.

Adani Green Energy lost 2.77%. The company announced that it has part commissioned 100 MWac capacity on 2 August, 2019 in the state of Rajasthan out of 200 MWac Solar Power Project, having Power Purchase Agreement with Maharashtra State Electricity Distribution Company (MSEDCL) at Rs. 2.71/kWh for a period of 25 years. The announcement was made after market hours on Friday, 2 August 2019.

Most auto stocks declined. Tata Motors (down 5.09%), Eicher Motors (down 2.49%), Mahindra & Mahindra (down 2.24%), Ashok Leyland (down 1.24%), Escorts (down 1.01%), Maruti Suzuki India (down 0.66%) and Hero MotoCorp (down 0.2%) declined.

Bajaj Auto (up 0.59%) and TVS Motor Company (up 0.21%)

As per reports, according to industry body FADA, approximately two lakh jobs have been cut across automobile dealerships in India in the last three months as vehicle retailers take the last resort of cutting manpower to tide over the impact of the unprecedented sales slump.

Relaxo Footwears rose 2.15%. The company's net profit rose 8.3% to Rs 49.75 crore on 15.4% rise in net sales to Rs 648.30 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 3 August 2019.

Revenues growth was mainly driven by favourable product mix and an increase in volumes. The company's earnings before interest tax depreciation and amortization (EBITDA) increased 28% to Rs 106 crore in Q1 June 2019 from 83 crore in Q1 June 2018. The EBITDA margin grew to 16.4% in Q1 June 2019 from 14.7% Q1 June 2018.

Overseas, shares in European stocks continued to trade lower while Asian stocks ended lower on Monday as a sharp escalation in the Sino-US trade war kept financial markets on edge.

US stocks ended at their lowest levels in a month on Friday as investors worried that President Trump's escalation of the trade war with China would impact economic growth. Stocks extended losses after China vowed to retaliate against President Trump's decision on Thursday to impose 10% tariffs on the remaining $300 million of imports from China not already subject to levies.

On the US data front, the U.S. economy added 164,000 jobs in July. The job gains pushed the size of the U.S. labor force to a record high. Wages rose 3.2% on a year-over-year basis.

Key equity barometers ended higher on Friday, reversing steep losses in morning trade. The barometer index, the S&P BSE Sensex, rose 99.90 points or 0.27% to 37,118.22, as per the provisional closing data. The Nifty 50 index rose 17.35 points or 0.16% to 10,997.35, as per the provisional closing data.

Benchmark indices bounced back in afternoon trade after media reports suggested that Prime Minister Office (PMO) and finance ministry's top bureaucrats were in talks over foreign portfolio investor (FPI) surcharge issue. The PMO took stock of tax surcharge and its impact of the stock market and FPIs, reports added.

Foreign investors have been selling extensively in the Indian equity market after the government announced levy of surcharge on super rich in the Union Budget. Finance minister Nirmala Sitharaman in her maiden Budget speech on 5 July 2019, proposed to enhance surcharge on individuals having taxable income from Rs 2 crore to Rs 5 crore and Rs 5 crore and above so that effective tax rates for these two categories will increase by around 3% and 7% respectively. The effective tax rate on the highest tax bracket goes up to 42.7% after the hike.

There are concerns that the increased surcharge on super-rich could also affect foreign funds investing in India since a same tax structures apply for individuals, Hindu Undivided Family (HUF) and Associations of Persons (AOPs). FPIs, including pension and retirement funds, educational endowment fund, etc, come in through trusts or AOPs route because it has been the most tax-efficient structure.

In broader market, the S&P BSE Mid-Cap index rose 0.15%. The S&P BSE Small-Cap index fell 0.44%.

The market breadth was negative. On the BSE, 840 shares rose and 1600 shares fell. A total of 148 shares were unchanged.

Asian Paints (up 2.88%), UltraTech Cement (up 1.81%) and Tech Mahindra (up 1.78%) advanced.

Wipro (down 2.46%), ONGC (down 2.12%), NTPC (down 1.97%) and Zee Entertainment Enterprises 1.83%) declined.

ITC fell 1.25% ahead of its Q1 June 2019 result today.

Housing finance major HDFC rose 1.08% after net profit rose 46.26% to Rs 3203.10 crore on 30.59% increase in total income to Rs 12996.11 crore in Q1 June 2019 over Q1 June 2018. The result was announced during trading hours today, 2 August 2019.

State Bank of India (SBI) fell 2.79% after the bank reported net profit of Rs 2312.20 crore in Q1 June 2019 compared with net loss of Rs 4875.85 crore in Q1 June 2018. Total income rose 7.88% to Rs 70653.23 crore in Q1 June 2019 over Q1 June 2018.

The bank's gross non-performing assets (NPAs) stood at Rs 168493.94 crore as on 30 June 2019 as against Rs 172750.36 crore as on 31 March 2019 and Rs 212839.92 crore as on 30 June 2018. The ratio of gross NPAs to gross advances stood at 7.53% as on 30 June 2019 as against 7.53% as on 31 March 2019 and 10.69% as on 30 June 2018. The ratio of net NPAs to net advances stood at 3.07% as on 30 June 2019 as against 3.01% as on 31 March 2019 and 5.29% as on 30 June 2018.

The bank's provisions and contingencies fell 52.24% to Rs 9182.94 crore in Q1 June 2019 over Q1 June 2018. Of this, provisions for NPAs fell 10.66% to Rs 11648.45 crore in Q1 June 2019 over Q1 June 2018. Provision coverage ratio of the bank was at 79.34% as on 30 June 2019.

MindTree rose 1.57%. The company announced during market hours today, 2 July 2019, that it has appointed Debashis Chatterjee as the CEO and managing director of the company from 2 August 2019 to 1 August 2024.

Power Grid Corporation of India fell 1.47%. Its consolidated net profit rose 9.75% to Rs 2489.39 crore on 11.26% rise in net sales to Rs 9179.63 crore in Q1 June 2019 over Q1 June 2018. The announcement was made during market hours today, 2 August 2019.

Further, Power Grid said that it was declared as the successful bidder under tariff-based competitive bidding to establish transmission system for two projects at Bhuj in Gujarat and Rajasthan SEZ. The announcement was made during market hours yesterday, 1 August 2019.

Bharti Airtel jumped 5.87%. The telecom major reported a consolidated net loss of Rs 2866 crore in Q1 June 2019 compared to a consolidated net profit of Rs 97.3 crore in Q1 June 2018. Net sales rose 4.7% to Rs 20,737.90 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 1 August 2019.

Consolidated earnings before interest tax depreciation and amortization (EBITDA) increased 24.21% to Rs 8492.6 crore in Q1 June 2019 from 6837 crore in Q1 June 2018. The EBITDA margin grew to 41% in Q1 June 2019 from 34.5% Q1 June 2018. The average revenue per user (ARPU) grew 22.6% to Rs 129 in Q1 June 2019 from Rs 105 in Q1 June 2018. ARPU grew 5.1% from Rs 123 in Q4 March 2019.

Coal India fell 2.74% after the company published its provisional production and off-take performance for the month of July 2019. The company's coal production declined 5.1% to 38.50 Mill Te while the off-take of coal dropped by 2.9% to 46.82 Mill Te in July 2019 over July 2018.

As per reports, Coal India has decided to procure rail wagons under general purpose wagon investment scheme at an estimated cost of Rs 700 crore.

Dalmia Bharat jumped 6.80%. On a consolidated basis, the conglomerate's profit after tax rose 192.3% to Rs 152 crore on a 7.13% rise in the income from operations to Rs 2537 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 1 August 2019.

Adani Transmission rose 1.89%. The power transmission company said that it has received the letter of intent (LOI) from PFC Consulting (A wholly owned subsidiary of PFC Corporation) to build, own. operate and maintain the transmission project in the state of Rajasthan for a period of 35 years. The project Bikaner - Khetri Transmission Limited consists of approximately 480 ckt kms of 765kV line along with associated transmission system. The announcement was made after market hours yesterday, 1 August 2019.

Most auto shares rose. TVS Motor Company (up 3.43%), Bajaj Auto (up 2.12%), Maruti Suzuki India (up 1.87%), Mahindra & Mahindra (up 1.57%) and Escorts (up 0.53%) advanced. Ashok Leyland was down 6.6%.

Tata Motors rose 0.89%. The company's Commercial and Passenger Vehicles Business sales in the domestic market dropped 34% at 32,938 units in July 2019 over July 2018 on subdued demand. The announcement was made after market hours yesterday, 1 August 2019.

Hero MotoCorp rose 1.28%. The company sold 535,810 units of motorcycles and scooters in July 2019. The announcement was made after market hours yesterday, 1 August 2019.

Eicher Motors gained 1.59%. Total Royal Enfield sales fell 22% to 54185 units in July 2019 over July 2018. Sale of models with engine capacity upto 350cc fell 29% to 45041 units while sale of models with engine capacity exceeding 350cc jumped 71% to 9144 units in July 2019 over July 2018. Total two-wheeler exports spurted 143% to 5003 units in July 2019 over July 2018. The announcement was made after market hours yesterday, 1 August 2019.

JK Tyre Industries slumped 13.31%. The company reported 73.63% slide in consolidated net profit to Rs 16.91 crore on 5.79% rise in total income to Rs 2587.60 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 1 August 2019.

KRBL jumped 4.51%. On a consolidated basis, the integrated rice company's net profit rose 36.1% to Rs 136.12 crore on a 63.8% rise in the net sales to Rs 1217.70 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 1 August 2019.

Marico rose 2.61%. The consumer goods company consolidated net profit rose 26.3% to Rs 322.15 crore on 6.9% increase in net sales to Rs 2166 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours yesterday, 1 August 2019.

The company delivered strong earnings growth on the back of resilient volume growth, amidst moderation in the overall demand environment in the domestic market. Consolidated earnings before interest tax depreciation and amortization (EBITDA) increased 26% to Rs 462 crore in Q1 June 2019. The company's EBITDA margin rose 324 bps to 21.3% in Q1 June 2019.

The company reported its flagship coconut oil product Parachute Rigids posted volume growth of 9% in Q1 June 2019. During the quarter, the average market price of domestic copra was down 25% Y-o-Y. With deflation in copra prices setting in, the low margin non-focused coconut oil brands posted a double-digit decline in volumes.

Indiabulls Housing Finance fell 4.91%. The company said that it will be doing a buyback of upto $50 million of the $350 million 6.375% notes issued by the company under the updated $1,500 million Secured Euro Medium Term Note Programme. The buyback will be done upon receipt of necessary regulatory approvals. The announcement was made during market hours today, 2 August 2019.

Raymond fell 1.56% after the company reported a consolidated net loss of Rs 14.83 crore in Q1 June 2019 compared with a net profit of Rs 0.73 crore in Q1 June 2018.The result was announced after market hours yesterday, 1 August 2019.

Consolidated net sales jumped 14.7% to Rs 1,435.12 crore in Q1 June 2019 over Q1 June 2018. Consolidated EBITDA fell 2% to Rs 105 crore in Q1 June 2019 over Q1 June 2018. The consolidated EBITDA margin slipped by 118 bps to 7.1% in Q1 June 2019 from 8.3% in Q1 June 2018.

Metal shares lacked luster. Jindal Steel & Power (down 7%), NMDC (down 3.22%), Steel Authority of India (down 3.09%), Tata Steel (down 2.59%), Vedanta (down 1.61%), Hindalco Industries (down 1.4%), Hindustan Zinc (down 0.35%) and JSW Steel (down 0.2%) declined.

National Aluminium Company (Nalco) fell 1.78% while Hindustan Copper lost 0.78%. Nalco said that a joint venture agreement was signed with Hindustan Copper and Mineral Exploration Corporation (MECL) to incorporate a joint venture company (JVC) with an objective to identify, explore, acquire, develop, process primarily strategic minerals overseas for supply to India for meeting domestic requirements and for sale to any other countries for commercial use.

Cadila Healthcare rose 1.37%. The company said that Zydus Cadila, an innovation—driven, global pharmaceutical company, announced that it has completed Phase 3 Clinical Trial in India of Saroglitazar Mg for treating Type 2 Diabetes. The announcement was made during market hours today, 2 August 2019.

Dishman Carbogen Amcis fell 1.45%. The drug development and commercialization services provider said that it wholly owned subsidiary, Carbogen Amcis AG's manufacturing site in Hunzenschwil (Neuland), Switzerland has successfully completed a US FDA Pre-Approval Inspection. The inspection was concluded with no Form 483's filed, thus confirming that no critical or major observation was raised during the inspection. The announcement was made after market hours yesterday, 1 August 2019.

Majesco fell 2.05%. The provider of insurance technology software said that Majesco, USA, subsidiary of the company, has acquired remaining 10% Securities of Exaxe Holdings, Ireland, for a consideration of Euro 0.72 Million, as per agreed terms of Share Purchase Agreement dated November 27, 2018. The announcement was made during market hours today, 2 August 2019.

Quess Corp fell 5.66%. The provider of technological and business services said that HWIC Asia Fund, promoter group company, had acquired 4.58 lakh equity shares from the open market on 31 July 2019 and 1 August 2019. The announcement was made after market hours yesterday, 1 August 2019.

Hindustan Construction Company (HCC) jumped 8.89% after the company reported a consolidated net loss of Rs 17.44 crore in Q1 June 2019 lower than net loss of Rs 60.86 crore in Q1 June 2018. The result was announced after trading hours yesterday, 1 August 2019. Consolidated net sales rose 6% to Rs 2,455.89 crore in Q1 June 2019 over Q1 June 2018. Order book was at Rs 17,721 crore compared with Rs 18,554 crore as of 31 March 2019. Gross debt reduced to Rs 3,614 crore from Rs 3,748 crore as of 31 March 2019.

The yield on India's 10-year benchmark federal paper fell to 6.345% compared with 6.423% at close in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 69.5825, compared with its close of 69.06 during the previous trading session.

MCX Gold futures for 5 August 2019 settlement rose 0.86% at Rs 35,215.

In the commodities market, Brent crude for October 2019 settlement was up $1.48 at $61.98 a barrel.

Overseas, shares in Europe and Asia edged lower Friday after a surprise tariff announcement from the United States escalated trade tensions between Washington and Beijing.

Japan's cabinet on Friday approved a plan to remove South Korea from a so-called white list of countries that enjoy trade privileges with Tokyo. The moves followed after Japan last month placed restrictions on exports of three important high-tech materials to South Korea that are used by tech companies to make memory chips and display panels.

US stocks fell Thursday after President Donald Trump announced plans to impose additional tariffs Chinese imports to the US. Trump said the US would impose 10% tariffs on $300 billion of Chinese goods beginning September 1. The president said trade talks with Beijing are continuing after US officials returned from negotiations in China. The 10% levies will apply to $300 billion of Chinese goods coming into the US. It doesn't include $250 billion of goods already subject to tariffs, the president said.

In the US, the Institute for Supply Management said its manufacturing index slipped to 51.2% in July, the lowest reading since August 2016. Meanwhile the IHS Markit US manufacturing index fell to its lowest since September 2009 at 50.4%.

The market ended steeply lower on Thursday, tracking losses in broader Asia. The sentiment was dampened after U.S. Federal Reserve Chairman Jerome Powell ruled out a lengthy easing cycle after delivering the first rate cut since the financial crisis. In a widely expected move, the U.S. central bank on Wednesday cut rates by 25 basis points to shore up the economy against risks including trade friction.

Metal and banking stocks incurred significant losses. Trading was volatile on account of expiry of weekly options contracts on the NSE. The Nifty regained 10,900 mark after briefly slipping below that level in late trade. The Nifty closed below 11000-mark for the first time since 5 March 2019. The Nifty is trading below its 200-day simple moving average (DMA) placed at 11,150.74.

The barometer index, the S&P BSE Sensex, fell 462.80 points or 1.23% to 37,018.32, as per the provisional closing data. The Nifty 50 index fell 105.40 points or 1.24% to 10,980, as per the provisional closing data.

The S&P BSE Mid-Cap index fell 0.86%. The S&P BSE Small-Cap index fell 1.10%.

The market breadth was negative. On the BSE, 840 shares rose and 1600 shares fell. A total of 148 shares were unchanged.

Bharti Airtel fell 3.80% ahead of its Q1 result today.

Escorts fell 2.55% after the tractor making company announced its monthly sales figures for the month of July 2019. Escorts reported 13.4% decline in the tractor sales to 4860 units in July 2019 against 5610 units in July 2018. Domestic tractor sales fell by 17.8% to 4505 units while the exports registered a growth of 179.5% to 355 units in July 2019 over July 2018.

Eicher Motors gained 0.86%. The company's consolidated net profit fell 21.59% to Rs 451.77 crore on 5.56% fall in total income to Rs 2523.17 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 31 July 2019.

Eicher Motors announced the sales volumes of VE Commercial Vehicles (VECV), an unlisted subsidiary of Eicher Motors for the month of July 2019.

The total sales of VECV fell 32.1% to 4048 units in July 2019 over July 2018. The total domestic sales declined 28.4% to 3695 units while the total exports dropped by 59.6% to 306 units in July 2019 over July 2018. The Volvo trucks sales declined by 2.1% to 47 units during the said period. The announcement was made during market hours today, 1 July 2019.

Ashok Leyland fell 2.58%. The company's consolidated net profit fell 44.24% to Rs 247.21 crore on 8.53% fall in total income to Rs 6613.52 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 31 July 2019.

In a separate announcement, Ashok Leyland said that its total sales fell 28% to 10,927 units in July 2019 over July 2018. The company's domestic sales of light commercial vehicles (LCV) rose 1% to 4,083 units, while sales of medium & heavy commercial vehicles (M&HCV) declined 41% to 6,018 units in July 2019 over July 2018. The announcement was made during the market hours today, 1 August 2019.

Maruti Suzuki India rose 0.84%. The company reported its monthly sales figures for the month of July 2019 during market hours today, 1 August 2019. The total sales (total domestic + export) of the company dropped 33.5% to 1.09 lakh units in July 2019 over July 2018. Total domestic sales (domestic + OEM) fell 35.1% to 1 lakh units while the total export sales declined by 9.4% to 9258 units in July 2019 over July 2018.

Bajaj Auto rose 0.10%. The auto major published its sales for the month of July 2019 during market hours today, 1 August 2019. The total sales of the company fell 5% to 3.81 lakh units in July 2019 over July 2018. The two-wheeler and three-wheeler manufacturing company's total domestic sales (motorcycles + commercial vehicles) witnessed a decline of 13% to 2.05 lakh units while the total exports (motorcycles + commercial vehicles) rose 8% to 1.76 lakh units in July 2019 over July 2018.

Mahindra & Mahindra (M&M) fell 0.47%. The company reported 15% decline in total vehicle sales to 40,142 units in July 2019 from 47,199 units in July 2018. Total domestic vehicles sales declined 16% to 37,474 units in July 2019 from 44,605 units in July 2018. The total exports increased 3% to 2668 units in July 2019 from 2594 units in July 2018.

M&M's Farm Equipment Sector (FES) reported a 12% decline in total sales to 19,992 units in July 2019. Total domestic FES sales declined 11% to 19,174 units in July 2019. Total FES exports declined 26% to 818 units in July 2018. The announcement was made during the market hours today, 1 August 2019.

The Motor Vehicles (Amendment) Bill, 2019 was passed by Rajya Sabha yesterday. The Bill has been passed with three Government amendments and will need to go back to Lok Sabha. The Lok Sabha had already passed the Bill on the 23rd of July 2019. The amendments in the Bill mainly focus on issues relating to improving road safety, citizens' facilitation while dealing with the transport department, strengthening rural transport, last mile connectivity and public transport, automation and computerization and enabling online services.

In the area of road safety, the Bill proposes to increase penalties to act as deterrent against traffic violations. Stricter provisions are being proposed in respect of offences like juvenile driving, drunken driving, driving without licence, dangerous driving, over-speeding, overloading etc. Stricter provisions for helmets have been introduced along with provisions for electronic detection of violations. Penalty regarding motor vehicles is to be increased by 10 % every year.

Bosch rose 1.25%. The auto parts maker said that with a view to adjust production to meet the demand for products and to avoid unnecessary buildup of inventory, it is proposed to suspend all manufacturing operations at the company's plant in Bidadi for 3 days from 1 August to 3 August 2019. The announcement was made after market hours yesterday, 31 July 2019.

Ajanta Pharma jumped 8.12%. On a consolidated basis, the pharmaceutical company's net profit rose 8.4% to Rs 114.63 crore on a 19.8% rise in the net sales to Rs 611.94 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 31 July 2019.

Reliance Capital fell 4.13%. The financial services company said that at the its request, ICRA and Brickwork Ratings India have withdrawn the rating assigned on the commercial paper (CP) programme of the company. The company further added that it has fully repaid its CP on the due dates and the CP outstanding stands at zero from the peak outstanding amount of approximately Rs 3,500 crore.

Media stocks witnessed selling. Dish TV India (down 6.2%), Eros International Media (down 5%), Prime Focus (down 4.9%), Sun TV Network (down 2.58%), TV18 Broadcast (down 1.62%) and Zee Media Corporation (down 1.19%) declined.

New Delhi Televison (up 6%), TV Today Network (up 4.07%), Balaji Telefilms (up 1.91%) and Network 18 Media Investments (up 1.64%) gained.

Zee Entertainment Enterprises (ZEEL) lost 4.39%. The company's parent organization Essel Group announced that Invesco Oppenheimer Developing Markets Fund has agreed to make an additional investment in ZEEL. The fund has agreed to buy up to an 11% stake in ZEEL from its promoters, for a total consideration value of up to Rs. 4,224 Crore.

Along with ZEEL, Essel Group is also in the process of divesting some of its Non-Media Assets. The announcement was made after market hours yesterday, 31 July 2019.

Jagran Prakashan lost 7.04%. On a consolidated basis, the media company's net profit fell 24.6% to Rs 64.36 crore on a 3% fall in the net sales to Rs 584.28 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 31 July 2019.

Trent jumped 6.85%. On a consolidated basis, Trent's net profit rose 4.7% to Rs 37.58 crore on a 30.1% rise in the net sales to Rs 799.88 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 31 July 2019.

CARE Ratings slumped 18.46%. The ratings agency's consolidated net profit declined 47.3% to Rs 13.18 crore on 16.8% fall in net sales to Rs 49.92 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 31 July 2019.

Tata Global Beverages rose 2.28%. The company's consolidated net profit rose 7.82% to Rs 125.33 crore on 5.27% rise in total income to Rs 1927.66 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 31 July 2019.

Tata Global Beverages said that while profits of international and non-branded businesses were higher, profits in India were lower due to higher commodity costs and increased spends behind brands and lower exceptional items.

UPL fell 3.80%. On a consolidated basis, the chemical manufacturer's net profit fell 63% to Rs 189.79 crore on a 91.2% rise in the net sales to Rs 7906 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 31 July 2019.

CreditAccess Grameen slipped 7.25%. The firm's net profit rose 32.7% to Rs 95.83 crore on a 31.7% rise in the total income to Rs 376.70 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 31 July 2019.

MAS Financial Services rose 1.79%. On a consolidated basis, the financial services company's net profit rose 33.4% to Rs 41.32 crore on a 33.4% rise in the total income to Rs 168.92 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 31 July 2019.

Private bank shares fell. Yes Bank (down 3.23%), Federal Bank (down 2.92%), RBL Bank (down 1.91%), ICICI Bank (down 1.48%), Kotak Mahindra Bank (down 1.42%), HDFC Bank (down 1.26%), Axis Bank (down 0.87%), City Union Bank (down 0.72%) and IndusInd Bank (down 0.71%) declined.

Most public sector bank shares fell. State Bank of India (down 4.5%), Union Bank of India (down 3.1%), Bank of India (down 2.77%), Andhra Bank (down 2.27%), Punjab National Bank (down 2.24%), Canara Bank (down 2.01%), Corporation Bank (down 1.99%), Syndicate Bank (down 1.86%), United Bank of India (down 1.43%), UCO Bank (down 0.91%), Bank of Baroda (down 0.61%), Bank of Maharashtra (down 0.46%), Allahabad Bank (down 0.4%) and Central Bank of India (down 0.28%) declined.

Punjab & Sind Bank (up 2.17%), IDBI Bank (up 1.99%) and Indian Bank (up 0.24%) advanced.

Tata Consultancy Services fell 1.06%. The IT company announced the launch of the ADD Site Feasibility Platform, which provides life sciences companies with a single, integrated platform that digitizes the site selection and activation processes, and facilitates data-driven decision-making while assessing site feasibility for multi-site clinical trials. The announcement was made during market hours today, 1 July 2019.

Biocon fell 1.37%. The biotechnology company, along with Mylan N.V., announced the launch in Australia of Ogivri (trastuzumab), a biosimilar to Herceptin (trastuzumab), for the treatment of HER2-overexpressing breast cancer and metastatic stomach cancer (gastric or gastroesophageal junction adenocarcinoma). Ogivri is the first trastuzumab biosimilar approved and launched in Australia and available on the pharmaceutical benefits scheme (PBS). The announcement was made during market hours today, 1 July 2019.

Most metal stocks declined. Vedanta (down 5.58%), JSW Steel (down 5.37%), Jindal Steel & Power (down 4.81%), Hindalco Industries (down 4.25%), Tata Steel (down 2.8%), Hindustan Zinc (down 2.21%), National Aluminium Company (down 1.87%), Steel Authority of India (down 1.52%) and Hindustan Copper (down 1.38%) declined. NMDC was up 0.14%.

On the economic front, the Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The combined Index of Eight Core Industries stood at 131.4 in June, 2019, which was 0.2 per cent higher as compared to the index of June, 2018. Its cumulative growth during April to June, 2019-20 was 3.5 per cent.

The IHS Markit India Manufacturing Purchasing Managers' Index (PMI) rose to two-month high of 52.5 in July 2019, from 52.1 in June 2019. Companies scaled up production in response to a quicker upturn in factory orders. This, coupled with optimistic growth projections, underpinned job creation and an uptick in input purchasing.

Overseas, European stocks were trading higher while most Asian stocks ended lower Thursday after remarks by Fed Chair Jerome Powell dampened expectations for further cuts going forward.

China's manufacturing activity contracted in July, according to results of a private survey released on Thursday. The Caixin/Markit factory Purchasing Managers' Index (PMI) was 49.9 in July, from 49.4 in June. PMI readings above 50 indicate expansion, while those below that level signal contraction.

US stocks closed sharply lower Wednesday with investors disappointed that the Federal Reserve cut interest rates in order to cushion the economy from the effects of President Trump's trade war with China, but refrained from suggesting further rate cuts were on the way.

The Federal Reserve on Wednesday trimmed its benchmark fed funds interest rate by a quarter-point, citing muted inflationary pressures and the implications of global developments. The vote was 8-2. The reduction in the fed funds rate - the first since 2008 - drops it to a range of 2% to 2.25%.

At his press conference, Fed chair Jerome Powell added that the Fed has moved to a somewhat more accommodative stance as part of a mid-cycle adjustment as trade tensions seem to be having a significant effect on the economy and the global manufacturing slowdown is a bigger factor than expected last year.

Overnight US and Chinese delegates, including Trade Secretary Robert Lighthizer and Treasury Secretary Steven Mnuchin, reportedly concluded the first round of talks since the G-20 gathering in May without any substantive developments on the tariff front. The United States and China will resume negotiations in Washington in early September.

The market ended with decent gains, snapping losses in the past two trading sessions. Gains were supported by firmness in auto and banks stocks. Trading was volatile as the Nifty bounced back after briefly slipping below 11,000 mark in the intraday. Global shares were mixed ahead of US Fed policy meeting outcome later today.

The barometer index, the S&P BSE Sensex, rose 83.88 points or 0.22% to 37,481.12, as per the provisional closing data. The Nifty 50 index rose 32.60 points or 0.29% to 11,118, as per the provisional closing data.

Recovery was broad based. The S&P BSE Mid-Cap index rose 0.72%. The S&P BSE Small-Cap index rose 0.34%.

The market breadth was negative. On the BSE, 1142 shares rose and 1347 shares fell. A total of 144 shares were unchanged.

Coffee Day Enterprises was locked in 20% lower circuit at Rs 123.25. As per reports, fishermen found the body of the company owner V.G.Siddhartha in the backwaters of the Nethravati river at Hoige Bazaar. Siddhartha went missing on Monday evening, following which search operations near Mangaluru were initiated early on Tuesday morning.

The company today, 31 July 2019, announced the appointment of S. V. Ranganath as the interim chairman of the board and the appointment of Nitin Bagmane as an interim chief operating officer of the company. The board of the company has also appointed Cyril Amarchand Mangaldas as its legal counsel to advise it on the foregoing and related matters.

Most private bank shares rose. Yes Bank (up 6.97%), IndusInd Bank (up 5.68%), RBL Federal Bank (up 1.82%) and Kotak Mahindra Bank (up 1.4%) advanced.

City Union Bank (down 0.59%), ICICI Bank (down 0.21%) and HDFC Bank (down 0.06%) declined.

Axis Bank fell 4.72%. The bank's net profit rose 95.4% to Rs 1370.08 crore on 21.8% increase in total income to Rs 19,123.71 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours today, 30 July 2019. Net interest income (interest earned less interest expended) for the quarter ended 30 June 2019 grew by 13% to 5,844 crore from Rs 5,167 crore for the quarter ended 30 June 2018. The ratio of gross NPAs to gross advances stood at 5.25% as on 30 June 2019 as against 5.26% as on 31 March 2019 and 6.52% as on 30 June 2018.

The ratio of net NPAs to net advances stood at 2.04% as on 30 June 2019 as against 2.06% as on 31 March 2019 and 3.09% as on 30 June 2018. The bank's provision coverage ratio increased to 78% as on 30 June 2019 compared with 77% on 30 June 2018.

RBL Bank rose 1.44%. The bank clarified after market hours yesterday, 30 July 2019, that it has exposures to certain operating entities of the Coffee Day Group in the logistics, coffee and real estate businesses. The credit facilities that are largely working capital in nature, are secured by primary securities, as well as some collaterals of land and marketable securities. All the loan accounts are standard and performing.

Most public sector bank shares rose. Bank of Baroda (up 3.41%), Punjab National Bank (up 2.99%), Allahabad Bank (up 2.82%), Bank of India (up 1.98%), United Bank of India (up1.96%), Canara Bank (up 1.48%), State Bank of India (up 1.34%), Union Bank of India (up 0.75%), Andhra Bank (up 0.24%) and Punjab & Sind Bank (up 0.22%) advanced.

Bank of Maharashtra (down 3.01%), Syndicate Bank (down 2.53%), UCO Bank (down 1.19%), Corporation Bank (down 1.08%), Central Bank of India (down 0.85%), IDBI Bank (down 0.54%) and Indian Bank (down 0.32%) declined.

Allahabad Bank fell 3.20%. The bank reported a net profit of Rs 128 crore in Q1 June 2019 as compared to a net loss of Rs 1944.37 crore in Q1 June 2018.The result was announced during market hours today, 31 July 2019.

The bank's gross non-performing assets (NPAs) stood at Rs 28,703.47 crore as on 30 June 2019 as against Rs 28,704.78 crore as on 31 March 2019 and Rs 25,067.55 crore as on 30 June 2018.The ratio of gross NPAs to gross advances stood at 17.43% as on 30 June 2019 as against 17.55% as on 31 March 2019 and 15.97% as on 30 June 2018.

The ratio of net NPAs to net advances stood at 5.71% as on 30 June 2019 as against 5.22% as on 31 March 2019 and 7.32% as on 30 June 2018.The provisions and contingencies declined 63.48% to Rs 1008.80 crore in Q1 June 2019 from Rs 2762.82 crore in Q1 June 2018. Provision coverage ratio of the bank was at 78.58% as on Q1 June 2019.

Most metal shares advanced. Tata Steel (up 4.38%), Jindal Steel & Power (up 3.14%), JSW Steel (up 2.89%), Steel Authority of India (up 2.76%), National Aluminium Company (up 2.61%), Hindustan Copper (up 1.91%), NMDC (up 1.81%), Vedanta (up 1.66%) and Hindustan Zinc (up 1%) advanced. Hindalco Industries was down 0.11%.

Jindal Steel & Power (JSPL) rose 3.26%. The company announced before market hours today, 31 July 2019, that it has successfully executed the first-ever rail order to Indian Railways on 29th July 2019. JSPL has supplied 126604 tones of long rails to Indian Railways in record time and far ahead of schedule. Out of this total quantity, JSPL supplied 97,400 tonnes of long rails on 22nd April 2019, in record time and four months ahead of schedule. The total value of the contract was at Rs. 732 crore.

JSW Steel gained 2.71%. The steel manufacturer announced after market hours yesterday, 30 July 2019, that it has been declared as the preferred bidder for 6 category C iron ore mines having estimated resource of around 120.714 MMT, in the e-auctions conducted by the Government of Karnataka. The announcement was made after market hours yesterday, 30 July 2019.

Alkem Laboratories lost 1%. The drug company after trading hours yesterday, 30 July 2019, announced that US FDA has issued an establishment inspection report (EIR) for the company's manufacturing facility located at Baddi, India which was inspected from 13 May 2019 to 11 May 2019.

In response to the Form 483 issued by the US FDA containing four observations, the company had submitted a detailed corrective and preventive action (CAP A) plan to the regulator within the stipulated timelines. The inspection has now been closed by the US FDA.

Most auto shares rose. TVS Motor Company (up 6.03%), Hero MotoCorp (up 4.01%), Bajaj Auto (up 2.34%), Escorts (up 1.76%), Tata Motors (up 0.97%), and Mahindra & Mahindra (up 0.05%) advanced. Maruti Suzuki India was down 0.65%.

Ashok Leyland rose 1.9% and Eicher Motors gained 0.9% ahead of their Q1 June 2019 results today.

Hero MotoCorp gained 3.97%. The company's consolidated net profit rose 36% to Rs 1252.22 crore on 8.2% decline in net sales to Rs 8185.66 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 30 July 2019.

Mahindra & Mahindra rose 0.17%. The company announced after market hours yesterday, 30 July 2019, that its shareholding in SmartShift Logistics Solutions has increased from 30.73% to approximately 34% of the Share Capital (Equity and Preference) on a fully diluted basis.

Apollo Tyres jumped 5.31% after the company announced its Q1 June 2019 result during market hours today. On a consolidated basis, Apollo Tyres' net profit after tax (after exceptional items) fell 43.77% to Rs 141.6 crore on a 0.74% rise in the total revenue from operation to Rs 4331.32 crore in Q1 June 2019 over Q1 June 2018. The total comprehensive income for the period rose 52.07% to Rs 121.69 crore in Q1 June 2019 over Q1 June 2018.

Gujarat Gas jumped 5.93%. On a consolidated basis, the city gas distributor's net profit rose 91.6% to Rs 234.04 crore on a 48.1% rise in the net sales to Rs 2614.61 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 30 July 2019.

Gulf Oil Lubricants India gained 3.47%. The lubricant maker's net profit rose 21.4% to Rs 48.73 crore on a 12.9% rise in the net sales to Rs 440.68 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 30 July 2019.

Indian Oil Corporation rose 3.86%. The company's net profit fell 47.35% to Rs 3596.11 crore on 0.25% increase in net sales to Rs 1,50,135.2 crore in Q1 June 2019 over Q1 June 2018.The result was announced during market hours today, 31 July 2019.

The average gross refining margin fell 54% to $4.69 bbl in Q1 June 2019 from $10.21 bbl in Q1 June 2018.The company has accounted for budgetary support of Rs 655.92 in Q1 June 2019 as compared to Rs 1136.16 crore in Q1 June 2018, as revenue grants on sale of SKO (PDS) included in revenue from operations and no under realization is suffered by the company on this account.

Dish TV India fell 3.70%. The company reported consolidated net loss of Rs 31.98 crore in Q1 June 2019 compared with a net profit of Rs 27.87 crore in Q1 June 2018. Net sales declined 44.1% to Rs 926.30 crore in Q1FY19 over Q1FY18. The result was announced after market hours yesterday, 30 July 2019.

The firm's consolidated subscription revenues plunged 44.5% to Rs 826.10 crore in Q1 June 2019 over Q1 June 2018. The consolidated EBITDA also dropped by 3.7% to Rs 536 crore this quarter as against the same quarter last fiscal year. The company achieved an EBITDA margin of 57.9% this quarter, under the New Tariff Regime.

Vinati Organics slumped 5.06%. On a consolidated basis, Vinati Organics' net profit rose 28.2% to Rs 82.36 crore on a 11.9% rise in the net sales to Rs 290.74 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 30 July 2019.

Tech Mahindra fell 0.51%. The company's consolidated net profit declined 15.29% to Rs 959.30 crore on 2.69% decline in net sales to Rs 8653 crore in Q1 June 2019 over Q4 March 2019. The result was announced after market hours yesterday, 30 July 2019. EBITDA declined 19.8% to Rs 1314.10 crore in Q1 June 2019 over Q4 March 2019. EBITDA margin fell to 15.2% in Q1 June 2019 from 18.4% Q4 March 2019.

In a separate announcement, the IT company announced that its board has approved the proposal to acquire majority stake in Mad*Pow Media Solutions, LLC through its wholly owned subsidiary viz. Tech Mahindra (Americas), Inc. The cost of the said acquisition is US$25.3mn. The transaction is expected to close by 31 July 2019.

PNB Housing Finance fell 1.67%. On a consolidated basis, PNB Housing Finance's net profit rose 11.2% to Rs 284.47 crore on a 35.4 % rise in the total income to Rs 2232.58 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 30 July 2019.

Pfizer fell 3.31%. The company said that it has been informed by its parent company Pfizer Inc., USA that Mylan N.V. and Pfizer Inc have announced a definitive agreement to combine Mylan with Upjohn, Pfizer's off-patent branded and generic established medicines business, creating a new global pharmaceutical company. The announcement was made after market hours yesterday, 30 July 2019.

KEI Industries fell 3.28%. The electrical cable and wire manufacturing company said that it has started commercial production of 1st phase of capex for manufacturing of house wire / building wire / flexible wire at new plant located at Dadra and Nagar Haveli.

Vaibhav Global gained 2.66%. On a consolidated basis, Vaibhav Global's net profit rose 19.8% to Rs 36.01 crore on a 12.8% rise in the net sales to Rs 439.96 crore in Q1 June 2019 over Q1 June 2018.

New Delhi Television (NDTV) was locked in 20% lower circuit at Rs 35. On a consolidated basis, NDTV reported a net profit of Rs 15.25 crore in Q1 June 2019 over a net loss of Rs 10.09 crore in Q1 June 2018. Net sales rose 10.3% to Rs 109.67 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 30 July 2019.

Overseas, most European stocks were trading higher while most Asian shares ended lower on Wednesday amid dampened expectations for a resolution to the U.S.-China trade war. China's factory activity contracted for the third straight month in July, according to official data released on Wednesday.

The official manufacturing Purchasing Managers' Index (PMI) for July came in at 49.7 from June's reading of 49.4, according to data from the Chinese statistics bureau.

US stocks drifted lower Tuesday as President Trump renewed his attacks on China, quashing hopes for a speedy resolution to trade tensions. Investors also digested another round of mixed corporate earnings and awaited a crucial Federal Reserve decision.

President Trump ratcheted up pressure on China to quickly reach a trade deal, warning that if he is re-elected next year, the terms of an agreement would be much tougher than what is currently being discussed. US delegates including Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer are in Shanghai for meetings with their Chinese counterparts, but hopes remain low for a breakthrough as neither side appears eager to make a deal.

The US Federal Reserve's two-day policy meeting concludes today, 31 July 2019. It is widely anticipated to cut benchmark rates by at least 25 basis points to combat headwinds from the China-US trade dispute and signs of slowing economic growth outside of the US.

The market ended with steep losses amid broad based selling pressure. The Nifty ended below the 11,100 mark. Banks and auto shares witnessed major selling.

The barometer index, the S&P BSE Sensex, fell 289.13 points or 0.77% to 37,397.24, as per the provisional closing data. The Nifty 50 index fell 108.60 points or 0.97% to 11,080.60, as per the provisional closing data.

Broader markets tumbled. The S&P BSE Mid-Cap index fell 1.58%. The S&P BSE Small-Cap index fell 2.13%.

The market breadth was weak. On the BSE, 573 shares rose and 1937 shares fell. A total of 113 shares were unchanged.

Larsen & Toubro (up 0.43%), ITC (up 0.35%), Hindustan Unilever (up 0.11%) and Adani Ports and Special Economic Zone (up 0.15%) advanced.

Indiabulls Housing Finance (down 6.40%), Sun Pharmaceutical Industries (down 4.52%), JSW Steel (down 4.20%), Grasim Industries (down 4.19%) and Tata Steel (down 4.31%) declined.

Bharti Airtel gained 3.05%. The telecom major announced after market hours yesterday, 29 July 2019, that it has designed and implemented a future ready state wide area network (SWAN) for the Government of Uttar Pradesh as part of Government of India's e-Governance initiative.

A foreign brokerage has upgraded the Bharti Airtel stock to buy and also raised the target to Rs 400 from Rs 360 per share. The brokerage cited favourable risk-reward with tariff hike adding the upside optionality, as reasons for upgrade. However, it feels that post the rights issue/Africa IPO, the company's balance sheet has strengthened.

Auto shares tumbled. Ashok Leyland (down 3.84%), TVS Motor Company (down 3.79%),Tata Motors (down 3.02%), Escorts (down 2.64%), Bajaj Auto (down 1.31%), Eicher Motors (down 0.96%), Maruti Suzuki India (down 0.86%), Mahindra & Mahindra (down 0.64%) declined.

Hero MotoCorp fell 6.03% ahead of its Q1 June 2019 result.

IT stocks were mixed. Persistent Systems (down 6.14%), Hexaware Technologies (down 1.36%), Wipro (down 0.23%) and Oracle Financial Services Software (down 0.13%) declined. TCS (up 2.21%), MindTree (up 1.58%), MphasiS (up 1%), HCL Technologies (up 0.69%) and Infosys (up 0.17%) advanced.

Tech Mahindra lost 1.1% ahead of its Q1 June 2019 result today.

Most private bank shares fell. IndusInd Bank (down 7.08%), Federal Bank (down 3.52%), RBL Bank (down 11.96%), Yes Bank (down 10.13%), ICICI Bank (down 0.89%), City Union Bank (down 0.31%) and Kotak Mahindra Bank (down 0.01%) declined. HDFC Bank was up 0.24%.

Axis Bank fell 1.29% ahead of its Q1 June 2019 result.

Public sector bank shares fell. Allahabad Bank (down 2.13%), Andhra Bank (down 2.55%), Bank of Baroda (down 5.69%), Bank of Maharashtra (down 7.04%), Canara Bank (down 3.09%), Central Bank of India (down 1.94%), Corporation Bank (down 3.16%), IDBI Bank (down 8.46%), Indian Bank (down 12.6%), Punjab & Sind Bank (down 1.69%), Punjab National Bank (down 3.46%), State Bank of India (down 4.7%), Syndicate Bank (down 4%), UCO Bank (down 1.76%) and Union Bank of India (down 4.9%) declined.

United Bank of India rose 1.79%. The bank reported net profit of Rs 104.99 crore in Q1 June 2019 compared with net loss of Rs 388.68 crore in Q1 June 2018. Total income rose 17.78% to Rs 3003.13 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 30 July 2019.

Bank of India fell 6.41%. The bank's net profit rose 155% to Rs 242.62 crore on 8.42% increase in total income to Rs 11,526.95 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 30 July 2019.

Coffee Day Enterprises was locked in a lower circuit of 20% to Rs 154.05. The company's owner V.G.Siddhartha was reported missing from close to Mangaluru on Tuesday. According to media reports, Siddhartha has been missing since Monday night. He left in his car towards Mangaluru last night, stopped midway at Ullal bridge, and went missing thereafter. There have been reports of Siddhartha having thrown himself off a bridge into Nethravati River.

Bharat Electronics jumped 5.82%. The company's net profit increased 13.91% to Rs 204.73 crore on 0.76% rise in total income to Rs 2126.96 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 29 July 2019.

DLF slipped 1.20%. The company's consolidated net profit rose 140.04% to Rs 414.72 crore on 10.85% rise in total income to Rs 1837.46 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 29 July 2019.

Sun Pharma Advanced Research Company fell 4.04%. The company reported net loss of Rs 94.19 crore in Q1 June 2019 as compared to net loss of Rs 64.48 crore in Q1 June 2018. Total income rose 16.35% to Rs 20.99 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 29 July 2019.

Dr Reddy's Laboratories lost 2.69%. The drug maker's consolidated net profit rose 42.1% to Rs 676.50 crore on 3.3% increase in net sales to Rs 3843.60 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 29 July 2019.

In a separate announcement, the company announced that the board of directors has approved an amalgamation of Dr. Reddy's Holdings (DRHL) an entity held by the promoter group, which holds 24.88% equity shares of Dr. Reddy's Laboratories (DRL), into the company. The scheme would lead to simplification of the shareholding structure and reduction of shareholding tiers. The promoter group cumulatively will continue to hold the same number of shares in the Company, pre and post the amalgamation.

The company has also announced the appointment of Erez Israeli as the chief executive officer (CEO) - key managerial personnel (KMP) of the company with effect from 1 August 2019.

In a separate announcement during market hours today, 30 July 30, 2019, Dr Reddy's Laboratories announced the launch of Pregabalin Capsules a therapeutic equivalent generic version of Lyrica (pregabalin) capsules approved by the U.S. Food and Drug Administration (USFDA).

Strides Pharma Science jumped 5.75%. On a consolidated basis, the company reported net profit of Rs 6.73 crore in Q1 June 2019 compared with net loss of Rs 2.18 crore in Q1 June 2018. Net sales rose 45.1% to Rs 685.80 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 29 July 2019.

In a separate announcement yesterday, Strides Pharma Science announced that its step down subsidiary Strides Pharma Global, Singapore (SPG) has entered into a joint venture (JV) with Sun Moral International (HK), a wholly-owned subsidiary of Sihuan Pharmaceutical Holdings Group (Sihuan), one of China's leading pharmaceutical companies. The JV fast tracks Strides' entry into China, the second-largest pharmaceutical market in the World offering a $137 billion (IQVIA) market opportunity.

Sanofi India lost 1.07%. The company's net profit fell 2.2% to Rs 97.40 crore on a 9.4% rise in the net sales to Rs 747.90 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 29 July 2019.

Shalby rose 5.52%. On a consolidated basis, Shalby's net profit rose 96.7% to Rs 23.62 crore on a 13.4% rise in the net sales to Rs 131.44 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 29 July 2019.

Insecticides (India) fell 1.05%. The company announced after market hours yesterday, 29 July 2019, that the Government of India, The Patent Office has granted the patent for an insecticidal combination and process thereof which covers Suspension Concentrate (Sc) Formulation Comprising Buprofezin and Fipronil for the term of 20 years from 2 December 2014 (date of filling). The combination is sold by the company under the brand name Aikido.

Jain Irrigation Systems slumped 14.66%. Fitch Ratings has downgraded India-based micro-irrigation company Jain Irrigation Systems' (JISL) long-term issuer default ratings (IDR) to 'CCC-' from 'B-' and the rating on $200 million 7.125% senior unsecured notes due in 2022 to 'CCC-' from 'B-' with a recovery rating of 'RR4'. The ratings are on rating watch negative (RWN).

The downgrade reflects Fitch's view that JISL's liquidity risk has increased significantly over the last few months since 31 March 2019, as the company has indicated that its available liquidity has reduced to Rs 2 billion at present (including around Rs 0.5 billion of cash and equivalents), from Rs 11.9 billion at FYE19. This has increased the uncertainty that JISL has the means to service its debt, Fitch said.

MMTC fell 2.70%. The international trading company said that it has been assigned the Credit Rating of BWR A1+ by Brickwork Ratings India for the proposed issue of commercial paper by the company. The announcement was made after market hours yesterday, 29 July 2019.

Trigyn Technologies lost 3.64%. The company announced that the Canadian Branch of the wholly owned subsidiary of the Company, Trigyn Technologies, Inc., has been awarded a contract to provide IT Temporary Staffing Services to the City of Mississauga, Canada. The award is for a period of three years, with options to extend for an additional two years, bringing the potential term to five years. The announcement was made after market hours yesterday, 29 July 2019.

Coal India fell 2.51%. The company said that the President of lndia acting through Ministry of Coal has sold 10.49 crore equity shares of Coal lndia at a value of Rs 2247.49 crore which is 1.7% of total equity share capital of the company. Post buyback, holding of President of lndia is 69.26 % of equity share capital of the company. The announcement was made after market hours yesterday, 29 July 2019.

BEML slipped 3.40%. BEML said that it has commenced production of Metro Cars at its Bangalore facility today, for MMRDA (Mumbai Metropolitan Region Development Authority) for its MRSl Project. The announcement was made after market hours yesterday, 29 July 2019.

Muthoot Capital Services lost 5.09%. The company's net profit fell 22.4% to Rs 13.58 crore on a 26.3% rise in total income to Rs 143.98 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 29 July 2019.

Dalmia Bharat Sugar and Industries fell 5.93%. On a consolidated basis, Dalmia Bharat Sugar and Industries's net profit fell 8% to Rs 54.39 crore on a 9.8% fall in the net sales to Rs 589.51 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 29 July 2019.

Piramal Enterprises rose 0.90%. On a consolidated basis, Piramal Enterprises reported net profit of Rs 450.89 crore in Q1 June 2019 compared with net loss of Rs 68.94 in Q1 June 2018. Revenue from operations rose 21% to Rs 3506.25 crore in Q1 June 2018 over Q1 June 2018. The result was announced during market hours today, 30 July 2019.

Overseas, most European shares trading lower while Asian stocks closed higher as investors await developments from U.S.-China trade talks this week in Shanghai as well as monetary policy decisions from major central banks.

The Bank of Japan policy board, on Tuesday, voted 7-2 to maintain interest rate at -0.1% on current accounts that financial institutions maintain at the bank. The Bank of Japan maintained its ultra-loose monetary policy, as widely expected, and lowered its inflation forecast.

The bank said it will purchase government bonds so that the yield of 10-year JGBs will remain at around zero percent. Further, the bank will purchase JGBs in a flexible manner so that their outstanding amount will increase at an annual pace of about JPY 80 trillion.

US stocks finished mixed Monday, with declines in financials and communication-discretionary sectors preventing the S&P 500 and Nasdaq from scoring fresh record closes.

Investors are watching for signs of progress toward a trade deal, but expectations for a breakthrough are low. Face-to-face trade talks between China and U.S. officials are reportedly set to resume Tuesday in Shanghai, marking the first such meeting on tariffs since President Donald Trump and China's President Xi Jinping met on the sidelines of the Group of 20 gathering in Osaka, Japan, in June.

The US Fed will kick off its two-day policy meeting later today, where it is widely anticipated to cut benchmark rates by at least 25 basis points to combat headwinds from the China-U.S. trade dispute and signs of slowing economic growth outside of the U.S.

The market edged lower on Monday, resuming its downtrend after a recovery on Friday. Domestic shares mirrored weakness in other Asian shares ahead of US Fed's policy review starting on Tuesday. The Nifty closed below 11,200 for the first time since 15 May 2019. The barometer index, the S&P BSE Sensex, fell 196.42 points or 0.52% to 37,686.37, as per the provisional closing data. The Nifty 50 index fell 95.10 points or 0.84% to 11,189.20, as per the provisional closing data.

The Nifty is trading way below its 100-day simple moving average (DMA) placed at 11,594.84. and the Nifty is now trading closer to its 200-day moving average placed at 11,140.31.

Broader markets tumbled. The S&P BSE Mid-Cap index fell 0.67%. The S&P BSE Small-Cap index fell 1.03%.

The market breadth was negative. On the BSE, 1187 shares rose and 1269 shares fell. A total of 175 shares were unchanged.

IndusInd Bank (up 1.08%), State Bank of India (up 0.20%) and Britannia Industries (up 0.07%), advanced.

Grasim Industries (down 9.54%), Bharti Infratel (down 5.22%), Zee Entertainment Enterprises (down 4.30%) and UltraTech Cement (down 3.12%), declined.

ICICI Bank gained 3.61%. The bank reported a net profit of Rs 1908.03 crore in Q1 June 2019 as compared to net loss of Rs 119.55 crore in Q1 June 2018. The bank's total income rose 15.24% to Rs 21405.50 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 27 July 2019.

Auto shares fell on reports the government is proposing to increase the registration fees for new vehicles across all types. Tata Motors (down 6.56%), Bajaj Auto (down 4.98%), Eicher Motors (down 4.68%), TVS Motor Company (down 3.95%), Ashok Leyland (down 3.64%), Hero MotoCorp (down 2.55%), Mahindra & Mahindra (down 1.92%) and Escorts (down 0.98%) declined.

Maruti Suzuki India dropped 4.02%. The car marker announced introduction of CNG variant in Ertiga and Tour M. The ex-showroom price in Delhi and NCR of Ertiga CNG is Rs 8.87 lakh while the price of Tour M CNG is Rs 8.82 lakh. The same shall be effective from 26 July 2019. The announcement was made after market hours on Friday, 26 July 2019.

IT stocks were mixed. MphasiS (up 2.49%), MindTree (up 1.62%), HCL Technologies (up 1.52%), TCS (up 1.05%), Hexaware Technologies (up 0.74%), Infosys (up 0.53%) and Tech Mahindra (up 0.48%) advanced.

Persistent Systems (down 5.15%), Oracle Financial Services Software (down 1.07%) and Wipro (down 0.51%) declined.

Havells India lost 4.76%. The company's consolidated net profit declined 16.3% to Rs 177.09 crore on 4.47% increase in net sales to Rs 2716.88 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 27 July 2019.

Polycab India rose 3.07%. The company's consolidated net profit rose 75.68% to Rs 135.27 crore on a 14.88% increase in net sales to Rs 1932.98 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 26 July 2019.

Eris Lifesciences fell 2.08%. The drug maker's consolidated net profit rose 17.96% to Rs 84.05 crore on 10.04% increase in net sales to Rs 271.89 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 27 July 2019.

Indiabulls group's shares fell after BJP Leader Subramanian Swamy sent a letter to PM Modi, accusing the group of Rs 1 lakh crore fraud. Indiabulls Housing Finance (down 9.86%), Indiabulls Integrated Services (down 5%), Indiabulls Ventures (down 4.65%) and Indiabulls Real Estate (down 4.77%) declined.

Swamy urged Prime Minister Narendra Modi to institute a Special Investigation Team of the Central Bureau of Investigation (CBI), Enforcement Directorate (ED), Serious Frauds Investigation Office (SFIO) and Income Tax (IT) officials to probe into the money laundering of the Indiabulls group by siphoning the funds of the National Housing Bank.

Vodafone Idea slumped 26.81%. On a consolidated basis, Vodafone Idea reported net loss of Rs 4067.01 crore in Q1 June 2019 compared with net loss of Rs 2757.60 crore in Q1 June 2018. Net sales rose 92% to Rs 11264.70 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 26 July 2019.

Vedanta lost 5.36%. The company's consolidated net profit fell 11.9% to Rs 1,351 crore on a 3.5% decline in net sales to Rs 21,167 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 26 July 2019.

Revenue in Q1 was lower primarily due to lower commodity prices partially offset by higher aluminium sales, volume addition from ESL, commencement of Gamsberg mine and currency depreciation. EBITDA fell 20% to Rs 5,188 crore in Q1 June 2019 over Q1 June 2018, mainly due to lower commodity prices partially offset by easing of input commodity inflation, rupee depreciation and volume addition from ESL acquisition. EBITDA margin stood at 27% in Q1 June 2019 as against 34% in Q1 June 2018.

Kansai Nerolac Paints jumped 6.20%. The paint maker's consolidated net profit rose 5.34% to Rs 146.02 crore on 9.38% increase in net sales to Rs 1542.41 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 29 July 2019.

TeamLease Services fell 4.90%. On a consolidated basis, TeamLease Services' net profit fell 13.8% to Rs 18.79 crore on a 22.5% rise in the net sales to Rs 1251.23 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 26 July 2019.

Music Broadcast lost 6.86%. The company's net profit fell 37.6% to Rs 8.43 crore on a 7.8% fall in the net sales to Rs 69.78 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 26 July 2019.

MOIL fell 1.07%. The company's net profit fell 20.1% to Rs 90.68 crore on a 10.7% fall in the net sales to Rs 280.07crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 27 July 2019.

ABB India rose 1.07%. The company's net profit rose 27.7% to Rs 130.40 crore on a 3.7% rise in the net sales to Rs 1708.58 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 26 July 2019.

Cadila Healthcare lost 2.88%. The drug maker announced after market hours on Friday, 26 July 2019, that USFDA inspected the company's active pharmaceutical ingredient (API) manufacturing facility located at Ankleshwar from 22 to 26 July 2019. This audit covered both Unit I and II. At the end of the inspection, no observation (483) was issued.

Granules India jumped 6.85%. The pharmaceutical company announced after trading hours on Friday, 26 July 2019, that company's Bonthapally facility located at Hyderabad, Telangana, India has completed the US FDA inspection from 22 to 26 July 2019 with one(1) 483 observation which is procedural in nature. Shilpa Medicare was up 0.57%. The company announced during market hours today, 29 July 2019, that it has completed USFDA audit at its active pharmaceutical ingredient (API) site, Raichur between 22 and 26 July 2019. The drug maker has received Form 483 with 5 observations, with no repeat observations and any data integrity observations. The observations are mostly procedural in nature, the company said.

Cipla fell 1.88%. The drug making company announced during market hours, 29 July 2019, that Alvotech and Cipla Gulf, its wholly-owned subsidiary, have entered into an exclusive partnership for the commercialization of AVT02, an adalimumab biosimilar, in select emerging markets. AVT02 is a mAb biosimilar to AbbVie's HUMIRA, which is a leading drug indicated for the treatment of several autoimmune diseases. AbbVie's HUMIRA recorded sales of about US$20 billion in 2018, making it the largest-selling blockbuster medicine worldwide.

Mahindra Lifespace Developers lost 7.48%. The company's consolidated net profit fell 51.6% to Rs 12.92 crore on 31% decline in net sales to Rs 106.22 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 26 July 2019. EBITDA declined 55.8% to Rs 19 crore in Q1 June 2019 over Q1 June 2018. The EBITDA margin fell to 16% in Q1 June 2019 from 24% in Q1 June 2018.

Power Mech Projects fell 7.26%. The company announced after trading hours on Friday, 26 July 2019, that it received communication from State Project Director, Samagra Shiksha, Andhra Pradesh cancelling the order worth Rs 512.78 crore given to the company for providing necessary infrastructure facilities in all government schools on hybrid annuity mode. The order was cancelled on the ground that the project work was not commenced. As the construction activity is not commenced, there is no implication on the financials of the company.

On a consolidated basis, Power Mech Projects' net profit rose 16.5% to Rs 28.41 crore on a 6.3% increase in net sales to Rs 491.22 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 27 July 2019.

Minda Industries fell 2.23%. The company announced on Saturday, 27 July 2019, that commercial paper of Rs 30 crore issued on 26 April 2019 with maturity date of 25 July 2019 has been redeemed.

PNB Housing Finance lost 1.54%. The housing finance company, before market hours today, 29 July 2019, announced that it has raised $100 million from International Finance Corporation, a member of the World Bank Group, for onlending to buyers in affordable housing projects.

Supreme Industries fell 2.21%. On a consolidated basis, Supreme Industries' net profit fell 10.31% to Rs 87 crore on a 6.76% rise in the total income to Rs 1437 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 29 July 2019.

Tata Power fell 1.36%. The company announced during market hours today. 29 July 2019, that Tata Power Renewable Energy (TPREL), the Company's wholly owned subsidiary, has received a letter of award (LOA) from Gujarat Urja Vikas Nigam (GUVNL) on 25th July 2019 to develop a 250 MW solar project in Dholera Solar Park of Gujarat. This capacity is in addition to 100 MW awarded by GUVNL earlier at Raghanesda Solar Park in May 2019.

Sandhar Technologies lost 3.63%. The company announced during market hours today, 29 July 2019, that it has entered into a 50-50 joint venture with Hanshin Corporation. The joint venture is being established for manufacturing and selling, futuristic high end data cables for the automotive industry in India which would include Radio Cable, AV/NAVI Cable, GPS/DMB Cable, USB Cable, AVM Cable and others for the four-wheeler segment.

Overseas, most European stocks were trading lower while Asian stocks closed lower on Monday as US-China negotiations resume in Beijing later this week amid low expectations for a major breakthrough.

Meanwhile, Chinese industrial profits fell in June, according the country's National Bureau of Statistics on Saturday. Industrial profits fell 3.1% in June from a year earlier, following a 1.1% gain in May.

US stocks closed at new highs for the S&P 500 and Nasdaq Composite indexes on Friday, as investors welcomed strong corporate earnings, government approval of the T-Mobile and Sprint merger.

On the economic front, the U.S. economy grew at an annualized pace of 2.1% in the second quarter, according to the Commerce Department, slowing from 3.1% in the first three months of the year.

The US Fed will gather on July 30-31 for policy meeting and the U.S. central bank is widely anticipated to cut benchmark rates by at least 25 basis points to combat headwinds from the China-U.S. trade dispute and signs of slowing economic growth outside of the U.S.

Key benchmark indices ended their six-day losing streak and clocked small gains on the first day of August series. Recovery was supported by firmness in auto, bank and metal stocks. The Nifty struggled to cross 11,300 mark and ended below that level.

The barometer index, the S&P BSE Sensex, rose 51.81 points or 0.14% to 37,882.79, as per the provisional closing data. The Nifty 50 index rose 32.15 points or 0.29% to 11,284.30, as per the provisional closing data.

The S&P BSE Mid-Cap index rose 0.53%. The S&P BSE Small-Cap index rose 0.22%.

The market breadth was positive. On the BSE, 1318 shares rose and 1183 shares fell. A total of 162 shares were unchanged.

Among index pivotals, Reliance Industries (down 1.42%), Tata Consultancy Services (down 0.87%) and HDFC Bank (down 0.12%) declined.

Zee Entertainment Enterprises (up 3.05%), Indiabulls Housing Finance (up 2.66%) and Bharti Infratel (up 2.08%) advanced.

Indian Oil Corporation (down 3.17%), HDFC (down 1.54%) and Oil and Natural Gas Corporation (down 1.39%) declined.

Private sector banks advanced. Yes Bank (up 8.96%), IndusInd Bank (up 1.76%), Kotak Mahindra Bank (up 1.67%), Axis Bank (up 1.04%), ICICI Bank (up 0.97%) and RBL Bank (up 0.38%) advanced.

AU Small Finance Bank rose 4.29% to Rs 660.5. The bank's net profit rose 147.7% to Rs 190.32 crore on a 66.1% rise in the total income to Rs 1168.33 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 25 July 2019.

PSU banks ended higher. Syndicate Bank (up 1.42%), Bank of India (up 0.93%), Union Bank of India (up 0.57%), State Bank of India (up 0.32%), Oriental Bank of Commerce (up 0.14%) gained. Allahabad Bank fell 0.12%.

Bank of Baroda gained 2.92% after net profit rose 34.38% to Rs 709.87 crore on 63.13% increase in total income to Rs 20860.90 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 25 July 2019.

Punjab National Bank was up 1.06% to Rs 708.95. The bank reported a net profit of Rs 1018.63 crore over a net loss of 940.01 crore on a 0.59% rise in the total income to Rs 15,161.74 crore in Q1 June 2019 over Q1 June 2018. The bank's provisions and contingencies slumped 64.86% to Rs 2023.31 crore in Q1 June 2019 over Q1 June 2018.

Auto stocks witnessed buying support. Eicher Motors (up 4.55%), TVS Motor Company (up 3.45%), Hero MotoCorp (up 3.47%), Ashok Leyland (up 2.98%), Bajaj Auto (up 2.72%), Mahindra & Mahindra (up 2.57%), Maruti Suzuki India (up 0.6%) and Escorts (up 0.13%) advanced.

Maruti Suzuki India was up 1.04% to Rs 5820. The company's net profit fell 27.3% to Rs 1435.50 crore on 14.1% decline in net sales to Rs 18735.20 crore in Q1 June 2019 over Q1 June 2018.

Bajaj Auto was up 2.87% to Rs 2618.2. The company's net profit rose 1% to Rs 1126 crore on a 4% rise in revenue from operations to Rs 7756 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 26 July 2019. The automobile company's EBITDA declined by 9% to Rs 1,250 crore in Q1 June 2019 over Q1 June 2018. The EBITDA margin also fell to 16.1% from 18.3% in Q1 June 2019 over Q1 June 2018. The operating profit declined by 8% to Rs 1,189 crore in Q1 June 2019 over Q1 June 2018. The total production of Bajaj Auto stood at 12.47 lakh units in the FY 2019-20.

Tata Motors was up 0.8% to Rs 145.5 after the company reported consolidated net loss of Rs 3698.34 crore in Q1 June 2019, higher than net loss of Rs 1902.37 crore in Q1 June 2018. Tata Motors' consolidated total income fell 7.43% to Rs 62302.98 crore in Q1 June 2019 over Q1 June 2018. The company's consolidated earnings before interest tax depreciation and amortization (EBITDA) stood at 6.2% in Q1 June 2019. Tata Motors said that Q1 was impacted by demand slowdown, higher axle loads, liquidity stress, low freight availability for cargo operators.

Jaguar Land Rover, a fully owned subsidiary of Tata Motors, reported a pre-tax loss of 395 million pounds, compared to 264 million pounds loss in the same period a year ago, on quarterly revenues that declined 2.8% year-on-year to 5.1 billion pounds.

The company's consolidated earnings before interest, tax, depreciation and amortization (EBITDA) increased 14.68% to Rs 1484 crore in Q2 June 2019 over Q2 June 2018. The EBITDA Margin grew to 21% in Q2 June 2019 from 19.4% in Q2 June 2018.

Metal stocks ended higher. Steel Authority of India (up 4.41%), Hindustan Zinc (up 3.54%), National Aluminium Company (up 2.11%), NMDC (up 2.07%), Hindalco Industries (up 0.86%) and Hindustan Copper (up 0.75%) advanced.

Vedanta was down 4.44% to Rs 163.75. The company announced that its overseas subsidiary, Cairn India Holdings (CIHL) and Volcan Investments have agreed to unwind entirely the structured investment entered between them in December 2018 ahead of the originally envisaged schedule. With this, Volcan will exercise the early exchange option available to it on 26 July 2019 and consequent to this the full exchange of its two issues of mandatory exchangeable bonds secured by shares in Anglo American plc, will settle on 12 August 2019. The share price of Anglo American has close to doubled, since Volcan invested, delivering attractive gains to all investors. The investment by CIHL, which was entered into as part of its cash management activities, has delivered a net gain of over $100 million in the 8-month period it was held. Cash proceeds from the settlement of the transaction will be paid to CIHL on 13 August 2019. Following the redemption of the structured instrument, completed with due Board approvals, CIHL will have no further economic exposure to Anglo American plc shares. The announcement was made before market hours today, 26 July 2019.

Tata Steel was up 1.09% to Rs 445.15. The company said that it has on 24 July 2019 subscribed to 2.58 crore rights equity shares of Tata Sponge Iron at an issue price of Rs 500 per rights equity share (including a premium of Rs 490 per rights equity share) aggregating to Rs 1,292.20 crore. The announcement was made after market hours yesterday, 25 July 2019.

JSW Steel rose 0.7% to Rs 250.5. At the 25th Annual General Meeting of the members of JSW Steel, held on 25th July 2019, shareholders offered consent to the board for making offer or invitations to subscribe to secured / unsecured redeemable non convertible debentures of the company, for an amount not exceeding Rs 10,000 crore on private placement basis. The announcement was made after market hours yesterday, 25 July 2019.

Ambuja Cement was down 0.68% to Rs 213.3. The company's consolidated net profit rose 12.3% to Rs 622.93 crore on 3.4% rise in net sales to Rs 7068.79 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours yesterday, 25 July 2019.

Overseas, European markets were trading higher. The European Central Bank laid the groundwork for further cuts to interest rates, announcing Thursday that it intends to leave official rates at present or lower levels, at least through the first half of 2020.

Asian markets closed on a negative note amid expectations that the U.S. Federal Reserve could be less aggressive than expected with monetary policy when it meets next week.

U.S. stocks finished lower Thursday, retreating from records for the S&P 500 and Nasdaq, after a series of mostly disappointing earnings reports.

The Fed will gather on July 30-31 for policy meeting and the U.S. central bank is widely anticipated to cut benchmark rates by at least 25 basis points to combat headwinds from the China-U.S. trade dispute and signs of slowing economic growth outside of the U.S.

Key equity benchmarks ended with tiny losses on Thursday. Trading was volatile due to monthly F&O expiry. The Nifty just manage to hold above 11,250 mark.

The barometer index, the S&P BSE Sensex, fell 16.67 points or 0.04% to 37,830.98, as per the provisional closing data. The Nifty 50 index fell 9.55 points or 0.08% to 11,261.75, as per the provisional closing data.

The S&P BSE Mid-Cap index rose 0.53%. The S&P BSE Small-Cap index fell 0.09%.

The market breadth was negative. On the BSE, 1076 shares rose and 1353 shares fell. A total of 174 shares were unchanged.

Bajaj Finance lost 4.18%. The company's consolidated net profit rose 43% to Rs 1195.25 crore on 47.5% rise in total income to Rs 5808.29 crore in Q1 June 2019 over Q1 June 2018. The company's loan losses and provisions jumped 69% from Rs 327 crore in Q1 June 2018 to Rs 551 crore in Q1 June 2019. The provisioning coverage ratio as of 30 June 2019 was 61%. The result was announced during market hours today, 25 July 2019.

Bajaj Finance's asset under management (AUM) grew 41% from Rs 91,287 crore in Q1 June 2018 to Rs 1,28,898 crore in Q1 June 2019. Net interest income was up by 43% from Rs 2,579 crore in Q1 June 2018 to Rs 3,695 crore in Q1 June 2019.

Bharti Infratel fell 0.76%. The consolidated net profit rose 39.03% to Rs 887 crore on 0.61% rise in total income to Rs 2042.40 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 24 July 2019.

Yes Bank fell 1.68%. ICRA downgraded ratings on Yes Bank's Rs 32,911.7 crore bond programme, citing an increase in stressed assets and lack of debt resolutions. The rating on bonds aggregating Rs 22,111.70 crore were downgraded by one notch, while that on Rs 10,800 crore of additional tier I (AT-I) bonds were downgraded by two notches. The announcement was made after market hours yesterday, 24 July 2019.

Sagar Cements jumped 7.06%. On a consolidated basis, Sagar Cements's net profit rose 407% to Rs 29.51 crore on a 25.2% rise in the net sales to Rs 344.20 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 24 July 2019.

Most metal shares fell. JSW Steel (down 2.67%), NMDC (down 2.6%), Hindustan Copper (down 1.76%), Tata Steel (down 1.29%), Steel Authority of India (down 1.26%), National Aluminium Company (down 1.1%), Jindal Steel & Power (down 0.96%), Hindustan Zinc (down 0.73%) and Hindalco Industries (down 0.13%) declined.Vedanta was up 3.73%.

JSW Energy shed 2.15%. As per reports, the company is planning to raise around $750 million from international bond sale to fund expansion plans as well as to repay some of its existing debt of over Rs 10,050 crore. The company has also set a target of achieving 10,000 MW of installed capacity by 2020, a quarter of which will be contributed by renewable energy sources.

Thirumalai Chemicals fell 8.91% after the company's consolidated net profit fell 61.37% to Rs 12.09 crore on a 12.24% increase in net sales to Rs 290.06 crore in Q1 June 2019 over Q1 June 2018.

ICICI Prudential Life Insurance Company advanced 4%. The company's consolidated net profit rose 1.2% to Rs 284.64 crore on 7.05% rise in total income to Rs 8576.25 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 24 July 2019.

Intellect Design Arena fell 6.35% after the firm reported consolidated net loss of Rs 1.89 crore in Q1 June 2019 compared with net profit of Rs 42.98 crore in Q4 March 2018. Net sales fell 13.35% to Rs 342.79 crore in Q1 June 2019 over Q4 March 2018. The result came in after trading hours yesterday, 24 July 2019.

Cox & Kings hit 5% lower circuit at Rs 14.05. The company after market hours yesterday, 24 July 2019, announced that it had defaulted on its repayment obligation towards unsecured commercial paper worth Rs 174 crore.

In a separate announcement yesterday, Cox & Kings said that Subhash Chandra Bhargava has tendered his resignation as an independent director of the company with effect from July 23, 2019 due to his personal commitments and other pre-occupations.

As per reports, the Bombay High Court has allowed International Air Transport Association (IATA) to encash bank guarantees provided by tour operator Cox & Kings. The court on Wednesday vacated its interim stay on invocation of bank guarantee after the tour operator withdrew its commercial arbitration petition challenging IATA's action.

Oberoi Realty fell 0.73% after consolidated net profit dropped 50.9% to Rs 152.07 crore on 32.1% decline in net sales to Rs 603.25 crore in Q1 June 2019 over Q1 June 2018.

Tata Motors lost 4.36% ahead of its Q1 June 2019 result today. Fitch Ratings has downgraded the Long-Term Issuer Default Rating (IDR) of Tata Motors (TML) to 'BB-' from 'BB'. The outlook is negative. The rating has been removed from Rating Watch Negative where it was placed on 6 February 2019.

Fitch Ratings said that the downgrade reflects the reduction in Fitch's expectations for TML's profitability and free cash generation in the next two to three years. Fitch revised its estimates because business risks have increased in both its India operations and its fully owned UK-based subsidiary, Jaguar Land Rover Automotive plc (JLR, BB-/Negative), while TML is likely to invest to bolster its long-term competitiveness. This will result in sustained deterioration in TML's financial profile, including its leverage.

Future Enterprises fell 9.23%. The company after market hours yesterday, 24 July 2019, announced that Care Ratings had reaffirmed the short term rating of A1+ and the long term rating has been retained at AA- with change in outlook from stable to negative.

Tribhovandas Bhimji Zaveri fell 2.49%. The company after market hours yesterday, 24 July 2019, announced that Acuite assigned long term rating of A-/Stable to company's bank loan facilities worth Rs 40 crores.

Most pharmaceutical shares rose. Lupin (up 4.47%), Sun Pharmaceutical Industries (up 2.58%), Divi's Laboratories (up 2.22%), Dr Reddy's Laboratories (up 2.18%), Alkem Laboratories (up 2.05%), Glenmark Pharmaceuticals (up 0.99%), Aurobindo Pharma (up 0.88%), Strides Shasun (up 0.29%), Cadila Healthcare (up 0.22%) and IPCA Laboratories (up 0.2%) advanced. Wockhardt (down 1.63%), Piramal Enterprises (down 0.6%) and GlaxoSmithKline Pharmaceuticals (down 0.29%) declined.

Caplin Point Laboratories jumped 10.30%. The company after market hours yesterday, 24 July 2019, announced that it has received the Establishment Inspection Report (EIR) from US FDA for the recently concluded inspection in June 2019. This was the third successful US FDA audit at the plant since 2016.

Cipla rose 3.39%. The company after market hours yesterday, 24 July 2019, announced the acquisition of the prescription drug Zemdri (Plazomicin) from Achaogen Inc. in a Chapter 11, U.S. Bankruptcy Code auction of Achaogen's assets. Cipla USA has acquired worldwide rights of Zemdri (excluding Greater China) with its allied assets and limited liabilities.

Syndicate Bank lost 1.27%. On a consolidated basis, Syndicate Bank reported net loss of Rs 957.37 crore in Q1 June 2019 compared with net loss of Rs 1238.33 crore in Q1 June 2018. Total income rose 7.9% to Rs 6080.69 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 24 July 2019.

Karur Vysya Bank rose 3.20%. The bank after market hours yesterday, 24 July 2019, announced that CRISIL had reaffirmed its rating of CRISIL A1+ with respect to the Certificates of Deposit Programme of the bank.

IDFC First Bank rose 3.59%. On a consolidated basis, IDFC First Bank reported net loss of Rs 611.64 crore in Q1 June 2019 compared with net profit of Rs 191.59 crore in Q1 June 2018. Total income rose 62.1% to Rs 4177.18 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 24 July 2019.

Shriram Transport Finance Company jumped 6.44% after consolidated net profit rose 10.8% to Rs 637.44 crore on a 8.9% increase in total income to Rs 4,061.65 crore in Q1 June 2019 over Q1 June 2018. The announcement was made after market hours yesterday, 24 July 2019.

On a standalone basis, net profit rose 10.7% to Rs 634.25 crore on a 8.85% increase in total income to Rs 4,061.65 crore in Q1 June 2019 over Q1 June 2018. The net interest income rose 7.62% at Rs 1,961.74 crore during the period under review.

The total assets under management (AUM) jumped by 5.77% to Rs 106343.48 crore in 30 June 2019 as against Rs 100540.57 crore in 30 June 2018.

GOCL Corporation jumped 13.09%. The company announced during market hours today, 25 July 2019, that Quaker Chemical Corporation and Houghton lnternational have on 23 July 2019 received approval from the United States Federal Trade Commission for their combination. This was the final approval required. The approval is subject to the divestiture of certain product lines comprising approximately three percent of combined company revenue. It further added that the divestiture will occur concurrent with the close of the combination which is expected to be on Thursday, 1 August 2019.

Security and Intelligence Services (India) fell 0.55%. On a consolidated basis, Security and Intelligence Services (India)'s net profit rose 88.2% to Rs 75.02 crore on a 24.6% rise in the net sales to Rs 2008.40 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 24 July 2019.

PI Industries gained 1% after the company's consolidated net profit rose 23.6% to Rs 101.60 crore on a 24.5% surge in net sales to Rs 754.10 crore in Q1 June 2019 over Q1 June 2018. The announcement was made after trading hours yesterday, 24 July 2019.

The yield on India's 10-year benchmark federal paper rose to 6.52% at 15:30 IST compared with 6.438% at close in the previous trading session.

The Reserve Bank of India (RBI) reported that currency in circulation decreased by 0.80% on the week to stand at Rs 21.90 trillion as on 12th July 2019. The central bank noted further that the overall reserve money rose by 0.2% on the week to Rs 27.90 trillion. Currency in circulation rose 13% on a year ago basis compared to 25.1% at the same time last year. In the current fiscal, the currency in circulation has grown by 2.4% while the reserve money has grown by just 0.8%.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 69.030, compared with its close of 68.9825 during the previous trading session.

MCX Gold futures for 5 August 2019 settlement rose 0.03% at Rs 35,037.

In the commodities market, Brent crude for September 2019 settlement was up 43 cents at $63.61 a barrel. The contract fell 65 cents or 1.02% to settle at $63.18 a barrel in the previous trading session.

Overseas, most European stocks were trading higher after soft economic data bolstered expectations of a rate cut from the European Central Bank (ECB). The ECB is scheduled to announce its latest interest rate decision at 12:45 p.m. London time, with Draghi's press conference set to follow at around 1:30 p.m.

Most Asian stocks closed higher on Thursday as semiconductor stocks in Japan and South Korea gained.

In US, the S&P 500 and Nasdaq stock indexes closed at record on Wednesday despite mixed earnings and economic data and antitrust probes into leading U.S. technology stocks. But the Dow ended lower after disappointing earnings from Boeing and Caterpillar.

In economic data, U.S. new home sales rebounded in June, the first gain in three months, but U.S. manufacturers expanded in July at the slowest pace in almost 10 years. IHS Markit said its manufacturing PMI slid to 50 this month from 50.6 in June, marking the lowest level since September 2009 just as the current expansion was getting under way.

A U.S. delegation headed by U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin is set to travel to China to revive trade talks next week, as per reports, marking the first in-person talks since the Group of 20 summit last month.

The market declined for fifth straight trading session after the International Monetary Fund (IMF) cut its annual growth forecast for the country. Continous selling by foreign portfolio investors for the past few days also spoiled sentiment. Firm crude oil prices also raised concerns of higher inflation and fiscal slippage. The Nifty closed below 11300 mark for the first time since 16 May 2019.

The barometer index, the S&P BSE Sensex, fell 135.09 points or 0.36% to 37,847.65, as per the provisional closing data. The Nifty 50 index fell 59.75 points or 0.53% to 11,271.30, as per the provisional closing data.

Broader markets tumbled. The S&P BSE Mid-Cap index fell 1.48%. The S&P BSE Small-Cap index fell 1.23%.

The market breadth was weak. On the BSE, 836 shares rose and 1620 shares fell. A total of 153 shares were unchanged.

IMF further cut its annual growth forecast for India. India's economy is set to grow at 7% in 2019, picking up to 7.2% in 2020. The downward revision of 0.3 percentage point for both years reflects a weaker-than-expected outlook for domestic demand, IMF said on Tuesday in its update to the World Economic Outlook (WEO).

IMF added that the global economy is expected to expand by 3.2% in 2019, down 0.1 percentage points from its April forecast and 0.3 percentage points below the estimate at the start of the year. The IMF cited concerns about the impact of the intensification of trade tensions and the weakening economic outlook. Second, market participants have been grappling with the implications of these tensions for the monetary policy outlook. Global technology supply chains were threatened by the prospect of US sanctions, Brexit-related uncertainty continued, and rising geopolitical tensions roiled energy prices.

On the equity front, Adani Ports and Special Economic Zone (down 4.79%), Eicher Motors (down 4.23%), Indiabulls Housing Finance (down 3.62%) and IndusInd Bank (down 3.6%) were top losers.

Among key index pivotal Reliance Industries (down 0.91%) and Tata Consultancy Services (down 0.73%) declined. While HDFC Bank gained 0.8%.

HDFC was up 1.84% to Rs 2177. The housing finance major announced after market hours yesterday, 23 July 2019, that it received several queries regarding the circular issued by the National Housing Bank (NHB) on 19 July 2019 to all registered housing finance companies on disbursement of housing loan to individuals linked to the stages of construction. As a policy, in the case of under-construction properties, HDFC disburses loans to individuals based on the stage of construction. HDFC has adequate mechanisms for monitoring the progress of construction of housing projects and customer consent is obtained prior to the release of each stage of payment to the developer. Further, the company's exposure to housing loan products involving subvention schemes offered by developers is negligible, at less than 2% of the individual loans. As a precautionary measure, in such cases, the amount due from the developer is collected upfront by the corporation. HDFC is of the view that there is unlikely to be any significant impact on growth of its individual business due to the above-mentioned circular, the company added.

Larsen & Toubro was down 1.34% to Rs 1391.1. L&T said that consolidated profit after tax (PAT) from continuing operations rose 20.5% to Rs 1361 crore on 10% growth in consolidated gross revenue to Rs 29636 crore in Q1 June 2019 over Q1 June 2018. The result was announced after trading hours yesterday, 23 July 2019. L&T won new orders worth Rs 38700 crore at the group level in Q1 June 2019, registering a growth of 11%. Consolidated order book of the group stood at Rs 294014 crore as at 30 June 2019, with international order book constituting 21% of the total order book. L&T said that order wins in infrastructure and power segments were the major contributors to the order inflow during the quarter. While orders from the central and state governments were affected during the general elections, strong PSU and private sector orders enabled growth for the quarter. In its outlook, L&T said that the company looks forward to a period of increased investment momentum and continued growth. Initiatives towards improved productivity, cost efficiencies derived from leveraging digital technology, capacity utilization and capability enhancement are expected to help the company maximize its shareholder returns (RoE) on a sustainable basis.

Hindustan Unilever (HUL) was up 2.17% to Rs 1730. HUL's consolidated net profit rose 11.27% to Rs 1,787.23 crore on 6.04% increase in net sales to Rs 10197 crore in Q1 June 2019 over Q1 June 2018. The result came after trading hours yesterday, 23 July 2019. HUL said that domestic consumer growth was 7% with underlying volume growth at 5%. It reported an EBITDA improvement of 250 bps with a reported EBITDA growth of 18%. Margin expansion was driven by improved mix, leverage in operating and advertising spends and the firm's savings agenda. Earnings before interest, tax, depreciation and amortization (EBITDA) at Rs 2647 crore, was up by 18% (13% on comparable basis after adjusting for accounting impact of IndAS 116).

Zee Entertainment Enterprises was up 4.35% to Rs 376.65. The company's consolidated net profit rose 62.56% to Rs 530.57 crore on 15.96% increase in total income to Rs 2114.33 crore in Q1 June 2019 over Q1 June 2018. The result was announced after trading hours yesterday, 23 July 2019. Consolidated EBITDA grew by 16.6% to Rs. 659.80 crore in Q1 June 2019 over Q1 June 2018. EBITDA margin stood at 32.9%. Zee Entertainment Enterprises said that the growth was driven by the strong performance of domestic broadcast and digital businesses.

Consolidated advertising revenue for the quarter was Rs 1186.7 crore, growth of 3.6% YoY. Domestic advertising revenue grew by 4.2% YoY to Rs 1132.2 crore. International advertising revenue for the quarter was Rs 54.5 crore. Consolidated subscription revenue for the quarter was Rs 708.8 crore, growth of 36.7% YoY. Domestic subscription revenue grew by 46.7% YoY to Rs 624 crore. International subscription revenue was Rs. 84.8 crore.

Jubilant Foodworks tumbled 5% after muted Q1 results. The company's net profit rose 0.13% to Rs 74.77 crore on 9.94% increase in revenue from operations to Rs 940.08 crore in Q1 June 2019 over Q1 June 2018. Jubilant FoodWorks reported same store sales growth (SSG) of 4.1% in Domino's Pizza, on a strong base of 25.9% last year. SSG refers to the year-over-year growth in sales of restaurants opened before previous financial year.

Metal stocks slumped. Jindal Steel & Power (down 7.94%), Steel Authority of India (down 5%), Tata Steel (down 3.08%), Hindalco Industries (down 2.88%), Hindustan Copper (down 2.7%), NMDC (down 2.32%), Hindustan Zinc (down 1.97%), Vedanta (down 1.73%) and National Aluminium Company (down 1.19%) edged lower.

Auto stocks witnessed selling. Eicher Motors (down 3.89%), Escorts (down 3.62%), Ashok Leyland (down 3.27%), Tata Motors (down 3.07%), Hero MotoCorp (down 2.56%), TVS Motor Company (down 2.26%), Maruti Suzuki India (down 1.96%), & Mahindra (down 1.95%) and Bajaj Auto (down 0.07%) declined.

Bosch was down 2.19% to Rs 14688.85. The company announced that in order to adjust its production to meet the demand for products and to avoid unnecessary buildup of inventory, it has proposed to suspend all the manufacturing operations in its plant situated at Naganathapura in Karnataka for two days, i.e. 27 July 2019 and 29 July 2019.

Pharma Stocks tanked. Piramal Enterprises (down 5.57%), Aurobindo Pharma (down 2.6%), Lupin (down 2.27%), Cipla (down 1.76%), Sun Pharmaceuticals Industries (down 1.1%), Divi's Laboratories (down 1.05%), Glenmark Pharmaceuticals (down 0.83%), GlaxoSmithKline Pharmaceuticals (down 0.37%) and Dr Reddy's Laboratories (down 0.26%) declined. Alkem Laboratories (up 0.27%) and IPCA Laboratories (up 0.72%) edged higher.

Torrent Pharmaceuticals was up 8.45% to Rs 1592.7. after the company's consolidated net profit rose 32.5% to Rs 216 crore on 7.7% increase in net sales to Rs 1976 crore in Q1 June 2019 over Q1 June 2018. Torrent Pharmaceuticals said that its revenues from India business rose by 9% to Rs 907 crore in Q1 June 2019 over Q1 June 2018. Its revenues from US business rose by 13% to Rs 376 crore in the same period. EBITDA grew by 11% to Rs 558 crore in Q1 June 2019 over Q1 June 2018. and EBITDA margin stood at 28%.

Mahindra & Mahindra Financial Services fell 9.95% to Rs 306.3 after the company's consolidated net profit fell 66.3% to Rs 108.46 crore on a 23.16% rise in total income to Rs 2,851.70 crore in Q1 June 2019 over Q1 June 2018.

Bajaj Electricals fell 4.96% to Rs 404.25 after the company received a credit rating downgrade from ICRA. The company has announced that ICRA has downgraded its long-term line of credit rating from “[ICRA]A+” to “[ICRA]A”. Ratings on short-term line of credit and commercial paper were downgraded from “[ICRA]A1+” to “[ICRA]A1”. Ratings on non-convertible debentures (NCDs) were downgraded from “[ICRA]A+” to “[ICRA]A”. The rating agency considered the increasing leveraging level and the subsequent weakening of debt coverage metrics of the company as the primary reasons for its downgrade of the credit rating of the company.

Bayer Cropscience was down 3.71% to Rs 3150.1. The company reported that its net profit fell 48.5% to Rs 75.75 crore on 20.2% decrease in net sales to Rs 663.60 crore in Q1 June 2019 over Q1 June 2018.

Karur Vysya Bank was down 0.77% to Rs 64.5. The bank's net profit rose 58.83% to Rs 72.92 crore on a 3.83% rise in the total income to Rs 1762.37 crore in Q1 June 2019 over Q1 June 2018.

Media reports suggested that Finance Minister Nirmala Sitharaman is likely to bring down the corporate tax rate to 25% for all companies. In her maiden budget, FM Sitharaman chose to reduce the corporate tax rate to 25% from 30% for companies with a turnover of up to Rs 400 crore, mentioning that this would cover 99.3% of enterprises.

In her reply to the discussion on the appropriation and finance bills in the Rajya Sabha, Sitharaman said: “We brought it down in order that now 99.3% of all industries are covered by the 25% rate. Therefore, hardly any are left behind… We shall cover them sooner.”

Overseas, most European markets were trading lower. Asian stocks closed on a mixed note on Wednesday following developments on the U.S.-China trade front. Market focus is largely attuned to global central banks, amid expectations that the ECB and the Federal Reserve could soon cut interest rates. The ECB is seen cutting rates by 10 basis points on Thursday, with the U.S. central bank expected to lower rates by 25 basis points at the end of the month.

In Europe, Boris Johnson was named the new British prime minister and his tenure, set to begin on Wednesday will have a huge impact across global markets and the geopolitical landscape. All eyes will be on his Brexit strategy and the composition of his cabinet.

US stocks closed higher Tuesday on upbeat quarterly reports from Coca-Cola and United Technologies and on optimism the United States would resolve its trade conflict with China.

Talks between China and the U.S. would start Monday as U.S. negotiators headed to China, as per reports. The U.S. delegation will be led by Trade Representative Robert Lighthizer and will be in China through Wednesday. The world's two largest economies have been locked in a trade war that has seen 25% tariffs imposed by President Donald Trump on $200 billion of Chinese products. China has retaliated with their own tariffs prompting fears of a global economic slowdown.

Key equity benchmarks ended with modest losses, extending their decline for fourth straight trading session. The barometer index, the S&P BSE Sensex, fell 48.39 points or 0.13% to 37,982.74, as per the provisional closing data. The Nifty 50 index fell 15.15 points or 0.13% to 11,331.05, as per the provisional closing data.

The S&P BSE Mid-Cap index fell 0.56%. The S&P BSE Small-Cap index rose 0.38%.

The market breadth was negative. On the BSE, 1187 shares rose and 1269 shares fell. A total of 175 shares were unchanged.

Power Grid Corporation of India (up 2.89%), Hero MotorCorp (up 2.55%), ITC (up 2.48%), Asian Paints (up 1.86%) and NTPC (up 1.57%), advanced.

State Bank of India (down 2.49%), Indiabulls Housing Finance (down 2.20%), Housing Development Finance Corporation (down 2.14%), Adani Ports and Special Economic Zone (down 1.69%) and Bajaj Auto (down 1.67%), declined.

Most public sector bank shares fell. Punjab National Bank (down 5.73%), Bank of Baroda (down 5.03%), Union Bank of India (down 3.28%), Bank of India (down 3.16%), Canara Bank (down 3.12%), Corporation Bank (down 2.57%), State Bank of India (down 2.51%), IDBI Bank (down 2.25%), Allahabad Bank (down 1.82%), Bank of Maharashtra (down 1.71%), Andhra Bank (down 1.38%), Syndicate Bank (down 1.35%), United Bank of India (down 0.72%), UCO Bank (down 0.56%) and Central Bank of India (down 0.54%) declined. Indian Bank was up 2.92%.

Private sector bank shares were mixed. RBL Bank (down 2.52%), HDFC Bank (down 1.4%), Federal Bank (down 1.25%), Yes Bank (down 0.88%), ICICI Bank (down 0.17%) and IndusInd Bank (down 0.1%) declined. City Union Bank (up 1.14%) and Axis Bank (up 0.15%) advanced.

Kotak Mahindra Bank rose 2.83% after standalone net profit rose 32.7% to Rs 1360.20 crore on 19.6% rise in total income to Rs 7944.61 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 22 July 2019.

Kotak Mahindra Bank's gross non-performing assets (NPAs) stood at Rs 4613.52 crore as on 30 June 2019 as against Rs 4467.94 crore as on 31 March 2019 and Rs 3899.45 crore as on 30 June 2018. The ratio of gross NPAs to gross advances stood at 2.19% as on 30 June 2019 as against 2.14% as on 31 March 2019 and 2.17% as on 30 June 2018. The ratio of net NPAs to net advances stood at 0.73% as on 30 June 2019 as against 0.75% as on 31 March 2019 and 0.86% as on 30 June 2018.

HDFC Life Insurance Company rose 3.64% after net profit rose 12% to Rs 425 crore on 29% rise in total premium to Rs 6536 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 23 July 2019.

United Spirits fell 1.42%. The company's consolidated net profit rose 37.2% to Rs 202.10 crore on 7.13% rise in total income to Rs 2436.80 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 22 July 2019.

TVS Motor Company fell 2.81% after standalone net profit fell 2.9% to Rs 142.30 crore on 7.2% rise in net sales to Rs 4468.62 crore in Q1 June 2019 over Q1 June 2018. The company's earnings before interest tax depreciation and amortization (EBITDA) grew 10.8% from 321.2 crore in Q1 June 2018 to Rs 355.8 crore in Q1 June 2019. The EBITDA margin increased from 7.7% in Q1 June 2018 to 8% in Q1 June 2019. The result was announced after market hours yesterday, 22 July 2019.

In a separate announcement, the company announced that TVS Motor (Singapore) Pte, a wholly-owned subsidiary of TVS Motor Company signed definitive agreements to invest $7 million in Scienaptic Systems.

Alembic Pharmaceuticals rose 3.46%. The company during market hours today, 23 July 2019, announced that it has received tentative approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Dapagliflozin Tablets, 5 mg and 10 mg. Dapagliflozin Tablets are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. Dapagliflozin Tablets have an estimated market size of US$ 1.7 billion for twelve months ending December 2018 according to IQVIA.

Most FMCG stocks rose. Bajaj Corp (up 4.66%), Nestle India (up 1.08%), Dabur India (up 0.57%), GlaxoSmithKline Consumer Healthcare (up 0.32%) and Procter & Gamble Hygiene & Health Care (up 0.03%) advanced.

Tata Global Beverages (down 0.73%), Colgate Palmolive (India) (down 0.39%), Marico (down 0.33%), Britannia Industries (down 0.19%) and Godrej Consumer Products (down 0.06%) declined.

Hindustan Unilever rose 0.84% ahead of its Q1 June 2019 result today.

Jyothy Labs gained 2% after the company announced its Q1 June 2019 results during market hours today, 23 July 2019. Jyothy Labs' net profit rose 10.90% to Rs 35.91 crore on a 2.22% rise in the total income to Rs 416.47 crore in Q1 June 2019 over Q1 June 2018.

Can Fin Homes rose 8.68% after net profit rose 10.60% to Rs 80.98 crore on 20.24% rise in total income to Rs 484.14 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours yesterday, 22 July 2019.

VA Tech Wabag jumped 6.08%. The company during market hours today, 23 July 2019, announced that it has secured a Rs 1,187 crore worth order from Bihar Urban Infrastructure Development Corporation (BUIDCO) under the prestigious National Mission for Clean Ganga (NMCG) Scheme to develop sewage treatment plants (STP) of 150 MLD capacity along with sewerage network of over 450 km in the Digha and Kankarbagh zones of Patna, one of the most populous cities on the banks of River Ganga. This project comprises of a design, build and operate (DBO) scope worth Rs 940 crore and hybrid annuity scope worth around Rs 247 crore.

Mastek fell 10.69% after the company announced its Q1 June 2019 results after market hours yesterday, 22 July 2019. On a consolidated basis, Mastek's net profit fell 11.57% to Rs 24.22 crore on a 7.32% fall in the net sales to Rs 247.54 crore in Q1 June 2019 over Q4 March 2019.

Aptech lost 2.46% after the company announced its Q1 June 2019 results after market hours yesterday, 22 July 2019. On a consolidated basis, Mastek's net profit fell 34.61% to Rs 3.08 crore on a 18.51% fall in the net sales to Rs 51.56 crore in Q1 June 2019 over Q4 March 2019.

Sadbhav Infrastructure Project rose 3.72%. The company during market hours today, 23 July 2019, announced that Vizag Port Road (a wholly owned subsidiary company or SPV) has executed supplementary agreement to concession agreement with National Highways Authority of India (NHAI) towards termination of concession agreement dated 3 May 2018 due to non-availability of required 80% of right of way by NHAI within stipulated time period. With this, concession agreement dated 3May 2018 shall cease to be in existence and will be treated as terminated with mutual consent of the parties without any outstanding claims on each other.

Overseas, European stocks were trading higher while most Asian Stocks closed higher on Tuesday, following overnight gains on Wall Street amid better-than-expected earnings.

In Europe, the U.K. is set to find out who its next prime minister will be this week as voting within the U.K.'s ruling Conservative Party comes to a close. The vote comes after Prime Minister Theresa May announced she would resign following repeated parliamentary rejections of the Brexit deal she struck with the EU. As such, the party leadership race has focused on how each contender would deal with Brexit ahead of a new departure deadline of October 31.

U.S. stock-market indexes closed higher Monday, as investors adjusted expectations around a widely anticipated rate cut by the Federal Reserve at the end of the month and began wading through a sea of corporate results after a strong start to earnings season. Investors are awaiting quarterly earnings from marquee companies Facebook, Alphabet and Amazon later this week.

U.S.-China trade negotiations were in focus, after reports that the two sides would soon meet face-to-face, with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin traveling to Beijing next week.

The domestic equity market extended its decline to the third consecutive session, led by weakness in financial stocks. Continuous FPI outflow and weak cues from other Asian indices spoiled investors sentiment. Foreign portfolio investors (FPIs) sold shares worth a net Rs 950.15 crore on Friday, 19 July 2019, as per provisional data released by the stock exchanges. Firmness in crude oil prices for second consecutive session also raised concerns of higher inflation and fiscal slippage.

The barometer index, the S&P BSE Sensex, fell 305.88 points or 0.80% to 38,031.13, as per the provisional closing data. The Nifty 50 index fell 82.10 points or 0.72% to 11,337.15, as per the provisional closing data.

The broader market tumbled. The S&P BSE Mid-Cap index fell 0.60%. The S&P BSE Small-Cap index fell 1.15%.

The market breadth was tilted in favour of sellers. On the BSE, 827 shares rose and 1698 shares fell. A total of 155 shares were unchanged.

Yes Bank (up 7.51%), Vedanta (up 3.57%), Zee Entertainment Enterprises (up 3.23%), Indiabulls Housing Finance (up 2.77%) and Asian Paints (up 2.55%) advanced.

Bajaj Finserv (down 5.50%), Housing Development Finance Corporation (down 4.90%), Eicher Motors (down 3.49%), Bajaj Finance (down 2.51%) and Hindustan Unilever (down 2.38%) declined.

Public sector bank shares mostly fell. Bank of Maharashtra (down 2.34%), Central Bank of India (down 2.11%), Andhra Bank (down 1.8%), Indian Bank (down 1.6%), State Bank of India (down 1.45%), IDBI Bank (down 1.32%), United Bank of India (down 1.22%), Punjab & Sind Bank (down 1.02%), Punjab National Bank (down 0.48%), Syndicate Bank (down 0.4%), UCO Bank (down 0.28%) and Canara Bank (down 0.21%) declined.

Union Bank of India (up 1.42%), Allahabad Bank (up 0.73%), Bank of India (up 0.62%) and Bank of Baroda (up 0.38%) advanced.

The Reserve Bank of India (RBI) governor held a meeting with the CEOs of the public sector banks and the chief executive of Indian Banks Association (IBA). The Governor acknowledged discernible improvements in the banking sector while underscoring that several challenges still remain to be addressed, particularly with regard to the stressed asset resolution and credit flows to needy sectors.

The Governor also pointed out that the level of transmission of monetary policy rates was less than desired. The chiefs of state-owned banks and the Governor also discussed ways to improve recovery efforts. Improving fraud risk management and deepening digital payments were some of the other key issues discussed.

The governor gave impetus to resolution of stressed assets facilitated by revised framework for resolution announced by the RBI on 7 June 2019. The governor discussed credit and deposit growth on the back of a slowing economy; flow of credit to needy sectors while following prudent lending, robust risk assessment and monitoring standards. The governor also discussed recent initiatives to address issues relating to NBFCs and the role banks can play in mitigating lingering concerns.

Most private bank shares fell. Federal Bank (down 3.34%), City Union Bank (down 1.22%) and IndusInd Bank (down 0.02%) declined. ICICI Bank was up 0.27%.

RBL Bank shed 4.71%, extending Friday's 13.71% slump. The bank during market hours on Friday announced that its net profit increased 40.5% to Rs 267.05 crore on a 48.1% rise in total income to Rs 2,503.88 crore in Q1 June 2019 over Q1 June 2018. Gross NPA has increased from Rs 595.94 crore in Q1 June 2018 to Rs 789.21 crore in Q1 June 2019. Provision coverage ratio increased from 60.41% in Q1 June 2018 to 69.13% in Q1 June 2019.

Commenting on the performance Vishwavir Ahuja, MD & CEO, RBL Bank said The bank has had a good quarter of strong performance and has continued to maintain its growth momentum and improvement in operating metrics. However, given the difficult environment we do expect to face some challenges on some of our exposures in the near term. At the same time, given the strong momentum in our businesses, we do expect to maintain a healthy profitable growth over the coming quarters.

Axis Bank fell 0.13%. The bank announced on Saturday, 20 July 2019, that the board of the bank has approved raising of funds aggregating upto Rs 18,000 crore, through issue of equity shares/ depository receipts and/or any other instruments or securities representing either equity shares and/or convertible securities linked to equity shares including through qualified institutions placement (QIP)/ american depository receipts (ADRs)/ global depository receipts (GDRs) program, preferential allotment or such other permissible mode or combinations as may be considered appropriate, subject to shareholders' approval through postal ballot process, in relation to the above fund raising proposal.

HDFC Bank lost 3.53%. The bank reported 21.01% rise in net profit to Rs 5568.16 crore on 22.74% rise in total income to Rs 32361.84 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 20 July 2019.

The bank's provisions and contingencies jumped 60.41% to Rs 2,613.66 crore in Q1 June 2019 over Q1 June 2018. Gross non-performing assets (NPAs) stood at Rs 11,768.95 crore as on 30 June 2019 as against Rs 11,224.16 crore as on 31 March 2019 and Rs 9,538.62 crore as on 30 June 2018. The ratio of gross NPAs to gross advances stood at 1.40% as on 30 June 2019 as against 1.36% as on 31 March 2019 and 1.33% as on 30 June 2018. The ratio of net NPAs to net advances stood at 0.43% as on 30 June 2019 as against 0.39% as on 31 March 2019 and 0.41% as on 30 June 2018.

Net interest income (interest earned less interest expended) for the quarter ended 30 June 2019 grew by 22.9% to 13,294.3 crore from Rs 10,813.6 crore for the quarter ended 30 June 2018, driven by asset growth and a core net interest margin for the quarter of 4.3%.

HDFC Bank said that in commemoration of 25 years of the bank's operations, the board of directors of the bank has declared a special interim dividend of Rs 5 per share for the financial year 2019-2020. The announcement was made after market hours on Friday, 19 July 2019.

Kotak Mahindra Bank fell 3.21% ahead of its Q1 result today, 22 July 2019.

Reliance Industries (RIL) rose 2.52%. RIL reported 6.82% rise in consolidated net profit to Rs 10104 crore on 22.68% rise in total income to Rs 160147 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 19 July 2019.

Meanwhile, Reliance Industrial Investments and Holdings (RIIHL), a wholly-owned subsidiary of Reliance Industries (RIL), has entered into an agreement with BIF IV Jarvis India Pte, an affiliate of Brookfield Asset Management Inc. (Brookfield) for an investment by Brookfield (along with co investors) of Rs 25215 crore in the units proposed to be issued by the Tower Infrastructure Trust (Trust). The announcement was made after market hours on Friday, 19 July 2019.

Amara Raja Batteries rose 1.51% after the company announced its Q1 June 2019 result on Saturday, 20 July 2019. On a consolidated basis, Amara Raja Batteries' net profit rose 18.2 % to Rs 140.73 crore on a 15.8 % rise in the net sales to Rs 1814.95 crore in Q1 June 2019 over Q1 June 2018.

L&T Technology Services fell 6.76%. The company during market hours today, 22 July 2019, announced that it has been selected as a strategic partner by United Technologies Corporation (UTC) for Collins Aerospace, a subsidiary of UTC.

Meanwhile, L&T Technology Services announced its Q1 June 2019 results after market hours on Friday, 19 July 2019. On a consolidated basis, L&T Technology Services' net profit rose 6.48% to Rs 203.9 crore on a 0.33% rise in the net sales to Rs 1347.5 crore in Q1 June 2019 over Q4 March 2019.

L&T Finance Holdings shed 2.18% after the company announced its Q1 June 2019 results after market hours on Friday, 19 July 2019. On a consolidated basis, L&T Finance Holdings' net profit rose 1.9% to Rs 548.79 crore on a 16.4% rise in the total income to Rs 3689.50 crore in Q1 June 2019 over Q1 June 2018.

ICICI Lombard General Insurance lost 3.44% after the company announced its Q1 June 2019 results after market hours on Friday, 19 July 2019. ICICI Lombard General Insurance's net profit rose 7.1% to Rs 309.81 crore on a 21.7% rise in the net sales to Rs 2244.89 crore in Q1 June 2019 over Q1 June 2018.

Alembic Pharmaceuticals fell 1.08%. The company during market hours today, 22 July 2019, announced that has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Pregabalin Capsules, 25 mg, 50 mg, 75 mg, 100 mg, 150 mg, 200 mg, 225 mg, and 300 mg. Pregabalin Capsules have an estimated market size of US$ 5.47 billion for twelve months ending December 2018 according to IQVIA.

Avanti Feeds jumped 7.01% after the company announced its Q1 June 2019 results on Saturday, 20 July 2019. On a consolidated basis, Avanti Feeds' net profit rose 12.9% to Rs 92.96 crore on a 5.1% rise in the net sales to Rs 1093.49 crore in Q1 June 2019 over Q1 June 2018.

Mahindra CIE Automotive fell 7.53% after the company announced its Q1 June 2019 results after market hours on Friday, 19 July 2019. On a consolidated basis, Mahindra CIE Automotive's net profit fell 9.1% to Rs 126.22 crore on a 3% rise in the net sales to Rs 2141.99 crore in Q1 June 2019 over Q1 June 2018.

CG Power and Industrial Solutions fell 1.59%. The company announced on Saturday, 20 July 2019, that Avantha Group Company, CG Power and Industrial Solutions (CG) through its wholly-owned subsidiary, CG Holdings Belgium NV Systems Division has bagged a contract valued at Euro 12.5 million (approx.) for high-voltage substations that will connect the Dumat Al Jandal wind farm to the Saudi Arabian electricity transmission grid.

Future Lifestyle Fashions lost 4.19% after the company announced its Q1 June 2019 results on Saturday, 20 July 2019. On a consolidated basis, Future Lifestyle Fashions' net profit fell 6.8% to Rs 24.54 crore on a 16.8% rise in the net sales to Rs 1540.30 crore in Q1 June 2019 over Q1 June 2018.

Laurus Labs shed 2.13%. The company during market hours today, 22 July 2019, announced the launch of the generic version of Lyrica, (pregabalin) Capsules, in all eight commercially available strengths (25 mg, 50 mg, 75 mg, 100 mg, 150 mg, 200 mg, 225 mg, & 300 mg) in US market. Rising recently received the final approval from the U.S. Food and Drug Administration (FDA) for the Abbreviated New Drug Application (ANDA).

Srikalahasthi Pipes rose 4.37% after the company announced Q1 June 2019 result during market hours today, 22 July 2019. Srikalahasthi Pipes's net profit rose 93.03% to Rs 33.37 crore on a 11.86% rise in the total income to Rs 373.18 crore in Q1 June 2019 over Q1 June 2018.

Hindustan Media Ventures was up 11.70% after the company announced Q1 June 2019 result during market hours today, 22 July 2019. Hindustan Media Ventures' net profit rose 200.53% to Rs 39.67 crore on a 2.14% rise in the total income to Rs 239.67 crore in Q1 June 2019 over Q1 June 2018.

Most metal shares rose. Steel Authority of India (up 3.48%), Jindal Steel & Power (up 3.06%), Hindalco Industries (up 2.27%), JSW Steel (up 2.12%), Hindustan Zinc (up 1.96%) and Tata Steel (up 1.75%) advanced.

Aviation stocks advanced. Functional routes under UdeDesh ka AamNaagrik (UDAN) scheme have increased to 186, according to a latest update from the Ministry of Civil Aviation. Durgapur Airport is the the latest entrant on the map of UDAN. Total 12 routes under the Regional Connectivity Scheme (or UdeDesh ka AamNaagrik /UDAN in Hindi) have recently become functional. This takes the total operational routes under UDAN to 186 (including 8 Tourism RCS routes) of the total 706 sanctioned Routes.

The DGCA published the domestic traffic report for the month of June 2019. The data showed that the passengers carried by domestic airlines during Jan-June 2019 were 706.80 lakhs as against 684.83 lakhs during the corresponding period of previous year thereby registering a growth of 3.21%. The passenger carried by the domestic airlines rose to 120.25 lakh in June 2019 from 113.25 lakh in June 2018, registering a growth of 6.19% during the stated period.

Spicejet gained 1.49%. The air carrier carried 18.76 lakh passengers in June 2019 with a market share of 15.6% during the month.

InterGlobe Aviation, which operates Indigo, rose 3.30%. Indigo carried 57.78 lakh passengers in June 2019 with a market share of 48.1% during the month. Meanwhile, InterGlobe Aviation announced its Q1 June 2019 result on Sunday, 21 June 2019. On a consolidated basis, InterGlobe Aviation's net profit rose 4229.4% to Rs 1203.14 crore on a 44.7% rise in the net sales to Rs 9420.06 crore in Q4 March 2019 over Q4 March 2018.

At the end of Q2 June 2019, the market share of Spicejet stood at 14.5% while that of Indigo stood at 49%.

The southwest monsoon has further advanced into remaining parts of West Rajasthan and thus has covered the entire country on 19 July 2019, noted the IMD in a latest update. The monsoon trough at mean sea level passes through Ganganagar, Hissar, Agra, Banda, Sidhi, Daltonganj, Bhubaneshwar, then southeastwards towards Northwest Bay of Bengal. However, the IMD also noted that cumulative rainfall deficit compared to long period average rains stands at 16% for 1 June to 17 July period.

India's foreign exchange reserves declined by $1.11 billion to $428.80 billion in the week ended 12 July 2019. The foreign exchange reserves had stood at $429.91 a week ago. Within the foreign exchange reserves, the foreign currency assets eased to $399.70 billion in the week ended 12 July 2019 from $400.81 billion a week ago. The gold assets were flat at $24.30 billion from $24.30 billion a week ago. SDRs were flat at $1.45 billion in the week ended 12 July 2019. India's foreign exchange reserves increased by $15.93 billion over March 2019, while jumped $23.72 billion over a year ago level.

Overseas, European stocks were trading higher while Asian stocks ended lower on Monday as investors reduced expectations of an aggressive interest rate cut by the Federal Reserve and heightened Middle East tensions. Iran said it seized a British-flagged oil tanker in the Strait of Hormuz last Friday, claiming that the vessel was violating international regulations.

Japanese Prime Minister Shinzo Abe's ruling coalition won a majority in the country's upper house of Parliament in elections on Sunday. That came as Japan remains embroiled in a trade dispute with South Korea.

US stocks closed lower Friday, 19 July 2019 following a report that said Federal Reserve officials would cut interest rates by a quarter percentage point at the end of the month.

Fed officials, based on recent public statements and interviews, signaled they were ready to cut rates by a quarter-percentage point at their July 30-31 meeting, but weren't prepared to make a half-point reduction. Expectations for a half-point lowering had been on the rise but fell back after the report.