Billionaire Mukesh Ambani's Reliance Jio, on March 31, announced it had notched an unprecedented 72 million paid subscribers, and extended by a fortnight its deadline for migrating other subscribers to its paid offer.
In an interview to CNBC-TV18's Latha Venkatesh, Sonia Shenoy and Anuj Singhal, SP Tulsian of sptulsian.com shared his reading and outlook on the market and also gave recommendations on various stocks.
Bharti Airtel, GAIL and TCS were the top gainers on the BSE, while HDFC, ITC and Maruti Suzuki were the top losers. Meanwhile, telecom stocks such as Idea Cellular and Bharti Airtel ruled the Nifty's top gainers list, while Hindalco, HDFC and Yes Bank were top losers.
ITC will benefit if excise duty on cigarettes is hiked by 8-10 percent and halving of cess to 8-10 percent can increase ONGC‘s EPS by 16-17 percent. The FM may announce universal basic income scheme which plans to directly transfer money to eligible individuals.
GAIL, Adani Ports, HDFC Bank, L&T and SBI are top gainers while Bharti, HUL, Infosys, Asian Painrs and Wipro are losers in the Sensex. HCL Technologies is down 2 percent after it posted Q3 results.
ICICI Bank, L&T, Bharti Airtel, Axis Bank and M&M are top gainers.
Bharti Airtel, Cipla, Asian Paints, HDFC Bank and HUL are top gainers while Axis Bank, ICICI Bank, ONGC, Coal India and NTPC are losers in the Sensex.
Tata Motors, Reliance, ONGC, ITC and Bharti Airtel are top gainers while HDFC Bank, Axis Bank, M&M and TCS are losers in the Sensex.
Axis Bank, Hero MotoCorp, Tata Steel, HDFC and Bajaj Auto are top gainers while Bharti Airtel, TCS, GAIL, Lupin and ICICI Bank are losers in the Sensex.
ITC, ICICI Bank, Adani Ports, Sun Pharma and SBI are top gainers while Bharti Airtel, Tata Motors and Tata Steel are losers in the Sensex. Midcap index is also up.
Cipla, Sun Pharma, Adani Ports, Lupin and TCS are top gainers whule Bharti Airtel, Hero, GAIL, Maruti and Bajaj Auto are losers in the Sensex.
TCS, Wipro, Axis Bank, M&M and Adani Ports are top gainers while Sun Pharma, Tata Motors, NTPC, ITC and Bharti Airtel are losers in the Sensex.
Adani Ports, HDFC, Hero MotoCorp, NTPC and Bharti are top gainers while Sun Pharma, TCS, ITC, Lupin and Dr Reddy's Labs are losers in the Sensex.
ITC, Asian Paints, Dr Reddy's Labs, Sun Pharma and Hero MotoCorp are gainers while Tata Motors, Tata Steel, ICICI Bank, TCS and Bharti are losers in the Sensex.
ICICI Bank, NTPC, Coal India, Axis Bank and SBI are top gainers while M&M, Bharti, Hero, HDFC Bank and Asian Paints are losers in the Sensex.
IT index is in red reacting to TCS and Infosys Q2 results. HUL is down 2 percent, while Infosys, Lupin, Bharti and HDFC are losers in the Sensex. GAIL, L&T, ONGC, Tata Motors and Cipla are gainers in the Sensex.
ITC, Axis Bank, Tata Motors, Lupin and Cipla are top gainers while Bharti Airtel are losers in the Sensex.
Adani Ports, Hero MotoCorp, Tata Motors, Cipla and BHEL are top gainers while Bharti Airtel is loser in the Sensex.
The Supreme Court has upheld 25 years jail term for Vikas and Vishal Yadav in the Nitish Katara murder case. The third convict Sukhdev Pehlwan‘s 25 years jail term has been reduced by five years.
The market has opened higher with the Sensex up 86.13 points or 0.3 percent at 28509.61. The Nifty is up 21.70 points or 0.2 percent at 8796.35. About 237 shares have advanced, 93 shares declined, and 19 shares are unchanged.
Index heavyweight Reliance stock was up around 1 percent as Ambani continued his speech drawing Relaince Jio plans, turned flat and soon slipped into red. Market expert, Ambareesh Baliga is worried that Reliance Jio offerings will not only hurt the incumbents, but would not help Reliance Industries either for next 3-4 quarters.
Idea's long term strategy is volume led profit growth and is confident of delivering double digit volume growth post monsoon, says Himanshu Kapania, MD of the company.
Telecom stocks are under pressure as war in the sector is heating up after Reliance Jio is launched with attractive price points. Shares of Bharti and Idea fell 9 percent intraday on Thursday.
Tata Motors, L&T, Cipla, Sun Pharma and Asian Paints are top gainers while Adani Ports, Lupin, Bharti, SBI and Axis are losers in the Sensex.
The market is rangebound but the Nifty is still above 8650. The 50-share index is up 23.90 points or 0.3 percent at 8674.20 and the Sensex is up 65.20 points or 0.2 percent at 28125.14. About 1214 shares have advanced, 612 shares declined, and 102 shares are unchanged.