Latest news and updates

03rd Dec, 2018

Markets end flat; HUL hits lifetime high

Published on: 3:59 pm

  • Indian stock markets witnessed a sideways consolidation after opening the day gap up. The Nifty witnessed a pullback from the high point of the day closing 11 points higher at 10,883, however, it managed to extend its positive run to the sixth trading session. Bank Nifty closed along the unchanged line 5 points lower at 26,857.
  • Indian equities relatively underperformed Asian peers in today's trade, wherein the latter clocked gains between 1-2% with the Shanghai Composite being the top performer ending 2.51% higher. Read more

Steel Strips Wheels export sales up 77% in November

Published on: 3:55 pm

  • Steel Strips Wheels Ltd (SSWL) has achieved gross turnover of Rs204.5cr in November 2018 vs. Rs172.75cr in November 2017, thereby recording a growth of 18% yoy and net turnover of Rs172.5cr in November 2018 vs. Rs138.85cr in November 2017, recording a growth of 24% yoy.
  • The company achieved total wheel rim sales of 12.78 lakh vs. 12.96 lakh in November 2018, which is down by 1% on yoy basis. Read more

Nifty just below 10,900 mark; Metal and Realty Indices up 2%

Published on: 3:33 pm

  • Equity benchmark indices closed marginally higher on Monday.
  • Sensex closed at 36,241 levels up by 47 points, while Nifty closed at 10,883 levels up by 7 points.
  • The indian rupee is trading at 70.21 per dollar weaker by 34 paise from its opening rate.
  • Most Nifty sectoral indices gained with metal and media leading with 2% while Pharma index gives bitter taste by falling 2.4%.

HUL's food & refreshment biz to get a 'boost' as board approves GSK Consumer merger deal

Published on: 3:08 pm

  • The board of Hindustan Unilever (HUL) has approved the scheme of amalgamating the company and GlaxoSmithKline (GSK) Consumer Healthcare Ltd (GSKCH), subject to further approvals.
  • The transaction is an all-equity merger with 4.39 shares of HUL being allotted for every share in GSKCH, implying a total equity value of Rs31,700cr for 100% of the latter. This merger includes the totality of operations within GSKCH, including the selling contract to distribute GSKCH’s OTC and Oral Health products (CrocinEno, and Sensodyne) in India. Read more

Nifty FMCG index gains led by HUL

Published on: 2:59 pm

  • The Nifty FMCG index was trading higher in afternoon trade on Monday. Shares of Jubilant Foodworks were 7% up, while Colgate, Hindustan Unilever (HUL), and GSK Consumer Healthcare shares were up in the range of 3-2%, respectively, followed by Marico and Godrej Consumer Products, which were also up ~1% each.
  • HUL stock erased its morning losses after the board of directors of the company approved a scheme of amalgamation with GlaxoSmithKline Consumer Healthcare Ltd (GSKCH India), subject to requisite approvals from authorities and shareholders. Read more

Power shares get energy as Gujarat govt to hike tariffs of coal based power plants

Published on: 2:57 pm

  • Shares of power companies namely Tata PowerAdani PowerPower Grid Corporation of IndiaREC, and Power Finance were trading up on Monday after a media report said that the Gujarat government is all set to hike tariffs of three coal-based power plants.
  • Accordingly, shares of Power Finance and Tata Power gained 10% and 9%, respectively, while those of Adani Power rose 4% on the BSE. Further, shares of Power Grid Corporation of India also climbed 3% on the BSE, while those of REC rose 7% on the NSE. Read more

Shankara Building stock collapses 10% due to weak earnings guidance

Published on: 2:43 pm

Shankara Building Products lose another 10% on guidance of retail margin weakness. Shankara Building Products Ltd., which has lost around 70% of its market value in the past one year due to high valuation and weak earnings growth, expects more turmoil as it focuses on competition and improving its balance sheet. Read more

Prabhat Dairy stock erases morning losses; down 4%

Published on: 2:35 pm

  • Shares of Prabhat Dairy recovered from their ~20% morning losses to trade ~4% down on Monday afternoon. The stock had plunged after a media report said that Tata Sons rejected a proposal by the group's mergers & acquisitions team for Tata Global Beverages to purchase Prabhat Dairy for about Rs400cr.
  • Further, the report added that the board did not see it significant enough to scale up the business in the challenging dairy sector, and instead asked Tata Global Beverages to focus on its core business. Read more

European shares climb on US-China trade truce

Published on: 2:19 pm

  • European shares were trading higher on Monday with miners and technology companies leading the gain of Stoxx Europe 600 Index.
  • Further, shares of automakers also climbed after US president Donald Trump tweeted that China has agreed to “reduce and remove” tariffs on imported American made cars. Additionally, the US is also mulling to curb existing tariffs on inward shipment of Chinese goods worth $200bn at 10% and refrain from hiking that rate to 25% as decided earlier. Read more

Nifty hovers around 10,900 mark; PSU Bank stocks gain

Published on: 2:07 pm

  • Equity benchmark indices were trading marginally higher in the afternoon trade, with the Nifty index is up 12 points at 10,889. The Sensex gained 49 points at 36,243.
  • PSU Bank shares were trading in the positive zone with the Nifty PSU Bank index up 1% at 2,950.
  • The most active stocks were Sun Pharma, Yes Bank, Tata Steel, ICICI Bank, Indiabulls HF, and RCOM.

Adani Transmission wins LOI for intra state transmission project

Published on: 1:29 pm

  • Adani Transmission Ltd (ATL), the largest private sector power transmission company operating in India, has received the LOI from PFC Consulting (a wholly owned subsidiary of PFC Corporation Ltd) to build, own, operate and maintain the transmission project in the state of Uttar Pradesh.
  • The project “Obra-C Badaun Transmission Limited” has approximately 625 ckt kms (circuit kilometre) of line at voltage levels of 765 kV and 400 kV. Read more

L&T Construction bags orders worth Rs1,127cr; Stock down 1%

Published on: 1:17 pm

  • Larsen & Toubro (L&T) said its construction arm has won orders worth Rs1,127cr across two of its business segments.
  • In the metallurgical and material handling business, the company bagged contracts worth Rs755cr, the company said in the filing.
  • An order has been secured from Hindustan Zinc Ltd for the construction of a 1.5 MTPA Lead Zinc Beneficiation Plant at R D Mines, Rajasthan, thereby continuing to build customer confidence and leadership position in this segment, the company added. Read more

Sun Pharma down 33% in three months, retail investors should stay away

Published on: 12:41 pm

  • The investor’s sentiment has continued to remain weak on Sun Pharma. The shares of the India’s largest pharma company have tanked 8% intraday on the reports that SEBI is planning to reopen the alleged insider trading probe against the company and its promoters.
  • The shares of Sun Pharma have now declined by 33% over the past three months. From its peak of Rs1,200 in 2015, Sun Pharma shares are down by 62%. During this period of volatility, Sun Pharma has lost market cap of Rs1.8 lakh crore. Read more

Markets trade flat; pharma becomes bitter

Published on: 12:24 pm

  • Equity benchmark indices were marginally negative after a positive opening on Monday following positive cues from global markets after the US and China agreed to halt their tariff war.
  • Benchmark index Nifty was trading below the 10,900-mark, down 13 points, while the Sensex lost 23 points to 36,171.
  • The Indian rupee was trading 41 paise weaker at 70.03 per dollar vs. Friday's closing of 69.59. Read more

Aviation stocks trade mixed; ATF price cut ~11%

Published on: 12:19 pm

Shares of aviation companies were trading on a mixed note on Monday after a rate cut in the prices of aviation turbine fuel (ATF) or jet fuel. Shares of Jet Airways rose ~1%, while SpiceJet and IndiGo were trading in the negative zone. Read more

TVS Motor November volume up 27% yoy, marginally misses estimate

Published on: 11:56 am

TVS Motor Company Ltd (TVSM) reported a slightly weak performance in November 2018 and narrowly missed the consensus expectations. Total volumes in the month were up 27% yoy (down 20% mom). The company sold 3,19,965 vehicles in November 2018 against 2,51,965 vehicles in November 2017 and 3,98,427 vehicles in October 2018. Total volumes missed the BloombergQuint poll estimate of 3,24,000 vehicles.Read more

Nifty Metal surges 3% on easing US-China trade war concerns

Published on: 11:39 am

  • Tracking global cues amid the easing trade war concerns between the United States and China, the Nifty Metal index grew 3% in late morning trade on Monday.
  • The world's largest and second-largest economies reached a truce on trade war front at the Group of 20 (G-20) Summit in Buenos Aires over the weekend.
  • The chiefs of the world’s two biggest economies have agreed to put a halt on a ‘tit-for-tat’ trade war for the next 90 days as US president Donald Trump and China's Xi Jinping negotiate a lasting agreement. Read more.

M&M stock down 2% as Nov tractor volumes miss expectations

Published on: 11:36 am

Mahindra & Mahindra Limited’s (M&M) Farm Equipment Sector (FES) sold 25,949 tractors in November 2018, up 13% yoy (down 45% mom). The total volume sold missed BloombergQuint's poll estimate of 26,750 tractors. Read more

Eicher Motors declares not so 'royal' motorcycle sales numbers for Nov 2018

Published on: 11:14 am

Royal Enfield (RE), the motorcycle franchise owned by Eicher Motors Limited (EML), reported a 6% yoy volume decline (7% mom decline) for November 2018. It sold 65,744 motorcycles in November 2018 against 70,126 motorcycles in November 2017 and 70,451 motorcycles in October 2018. The volume was lower than BloombergQuint's poll estimate of 73,500 motorcycles. Export volume plunged 69% yoy (up 76% mom) to 718 motorcycles. Read more

India Nikkei Manufacturing PMI at 11-month high of 54 in November

Published on: 10:51 am

  • The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) rose for the third consecutive month in November, up from 53.1 in October to 54. The latest figure signalled the strongest improvement in the health of the sector in almost one year.
  • Manufacturing operating conditions in India strengthened for the third successive month in November, as healthier inflows of new orders encouraged companies to lift production and input buying to greater extents than in October. Cost inflation moderated, but the revival in demand translated into improved pricing power among producers who raised their charges at a quicker rate. Elsewhere, job creation was sustained while sentiment picked up. Read more

Stocks react to Nov auto sales: Ashok Leyland, Hero MotorCorp down; Tata Motors up

Updated on: 10:48 am

Published on: 10:46 am

  • Shares of Tata Motors were trading up, while those of Hero MotoCorp and Ashok Leyland slipped in the morning session on Monday after the companies posted their respective auto sales numbers for November.
  • Accordingly, shares of Ashok Leyland slumped ~5% on Monday after the company reported a 9% drop in total sales on yoy basis (down 13% mom) for the month of November 2018. Total sales were 13,121 units in November 2018 vs. 14,457 units in November 2017 and 15,149 units in October 2018. Read more.
  • Further, shares of Hero MotoCorp dropped ~1% after the company reported flat volumes for November 2018, missing market expectations. Read more.

Coal India Production update: Production and offtake see little growth, coal stocks recover slightly

Published on: 10:46 am

Coal India Ltd (CIL) saw very little growth in production and offtake in the month of November 2018. Coal production rose to 52.09mn tonnes (up 1.6% yoy) in November compared to 49.77mn tonnes (up 7.8% yoy) in October 2018. Offtake remained weak, rising to 51.01mn tonnes (up 0.6% yoy) in November 2018 compared to 50mn tonnes (up 3.6% yoy) in October 2018. This brings the production and offtake of CIL for 8MFY19 to 358.33mn tonnes (up 8.8% yoy) and 391.82mn (up 6.5% yoy) respectively. Read more

Ashok Leyland stock tanks nearly 5% as November volumes disappoint

Published on: 10:37 am

Ashok Leyland Limited (ALL) reported 9% yoy volume decline (13% mom volume decline) for the month of November 2018. Total sales were 13,121 units in November 2018 vs. 14,457 units in November 2017 and 15,149 units in October 2018. The volume number missed BloombergQuint poll estimate of 14,000 units for October 2018. The volume decline came on a strong base of November 2017 (volume growth of 51% yoy, 12% mom). The stock is trading nearly 5% lower at the lowest point of the day so far. Read more

Bitter Pill! Pharma stocks decline led by Sun Pharma

Published on: 10:34 am

Shares of Pharmaceutical companies slipped on the BSE and NSE in today's trade. Shares of Sun Pharma tanked over 7% on both the indices, the company being among the top losers today. The stock came under pressure after a media report stated that the Sebi is likely to re-open an insider trading case against Sun Pharma after the market regulator received an application that claims various irregularities by the company, its promoter Dilip Shanghvi, and others. Read more.

Sun Pharma dives 7% on report of likely re-opening of insider trading case

Published on: 10:23 am

  • Shares of Sun Pharma plummeted 7% in Monday’s morning session after a media report said that the Securities Exchange Board of India (Sebi) is likely to re-open an insider trading case against the company.
  • As per a PTI report, the update comes after the market regulator received an application that claims various irregularities by the company, its promoter Dilip Shanghvi, and others. The managing director of the company Dilip Shanghvi and nine other entities, in August 2017, settled an insider trading probe on payment of Rs18 lakh towards settlement charges. Read more

Bajaj Auto stock trades weak as November auto sales miss estimates

Published on: 10:14 am

  • Bajaj Auto Limited (BJAUT) reported slightly weak set of auto volume numbers in November 2018. It sold a total of 4,06,930 vehicles in November 2018 against 3,26,458 vehicles in November 2017 and 5,06,699 vehicles in October 2018, implying growth of 25% yoy and decline of 20% mom. The reported volume numbers missed BloombergQuint poll estimate of 4,21,000 vehicles.
  • The motorcycle portfolio continued to power ahead, growing 31% yoy (down 20% mom). The company sold total of 3,46,544 motorcycles in November 2018 against 2,63,970 in November 2017 and 4,32,985 in October 2018. In the domestic market, motorcycles grew at a robust 45% yoy, the highest growth rate since June 2018. Even in the export market, motorcycle growth was healthy at 16% yoy. Read more

Rupee back to 70/$, down 44 paise

Published on: 10:11 am

  • The Indian rupee slipped in early morning deals against the US Dollar breaching the 70/$ mark. The local currency is currently trading lower by 44 paise at 70.03/$.
  • The 10-year bond yield stood at 7.649%, from its Friday’s close of 7.607%.
  • On the international front, the dollar weakened across the board on Monday as investor demand for riskier assets rose following the US-China truce. Read more

Sensex rallies over 180 points; Sun Pharma tanks 9%

Published on: 9:41 am

  • Equity benchmark indices opened higher on Monday following positive cues from global markets after the US and China agreed to halt their tariff war.
  • Shares of Sun Pharma tanked over 9% on both the indices and were among the top losers. The stock came under pressure after a media report stated that the Sebi is likely to re-open an insider trading case against Sun Pharma after the market regulator received an application that claims various irregularities by the company, its promoter Dilip Shanghvi, and others. Read here
  • The Indian rupee opened lower by 28 paise at 69.87 per dollar vs. Friday's closing 69.59/$. Read more

Asian stock markets rally on trade news relief

Published on: 8:53 am

  • Asian stock markets rallied on Monday after President Donald Trump and Chinese President Xi Jinping brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets.
  • Nikkei, KOSPI, Jakarta indices were trading in the range of 1.5-2%, while Shanghai Composite, Hang Seng, and Straits Times are trading up over 2.5%, respectively. Read more

Share Market Update: Open interest Guide (December 03, 2018)

Published on: 8:41 am

Open interest is the total number of outstanding contracts that are held by market participants at any point in time. It measures the total level of activity in the futures and options market. Open interest tends to act as a leading indicator of continuation or an impending change in trend. Read more

Sandhar Tech enters into a 50-50 JV with Kwangsung

Published on: 8:27 am

  • Sandhar Technologies Ltd., a diversified auto component manufacturing company, with multiple technology platforms and product lines, has signed a Joint Venture agreement with Kwangsung Corporation Ltd.
  • The joint venture is being established for manufacturing and selling, inter-alia, interior and exterior parts, plastic moulded parts and accessories for the passenger and utility vehicles segment in a phased manner. Read more

Zydus Cadila gets final approval from USFDA for Teriflunomide tablets

Published on: 8:14 am

  • Zydus Cadila has received the final approval from the USFDA to market Teriflunomide Tablets (US RLD- AUBAGIO), 7 mg and 14 mg.
  • It will be manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad, the company said in the filing.
  • The group now has 237 approvals and has so far filed over 340 ANDAs since the commencement of the filing process in FY 2003-04, the company added. Read more

Derivative Watch

Published on: 8:04 am

  • Nifty witnessed a marginal addition of fresh long positions while, Bank Nifty witnessed long unwinding in the last trading session.
  • PCR for Nifty currently stands at 1.7 and 1.17  vs. 1.75 and 1.33, respectively.
  • Fresh long position build-up was seen in United Spirits and Bata Industries.

FII Data

Published on: 8:00 am

FII/DII Data:  In Friday’s trading session FIIs sold 332cr stock in the cash market whereas DIIs bought 1489cr worth of stock. In the derivative market, FIIs bought 171cr of Index futures and bought 1521cr worth of Index options. In the Stock futures segment, FIIs bought 32cr worth of stock futures and bought 288cr stock options.

FII View: FIIs created bullish positions in Index Futures in Friday’s trading session which is deduced by the fact that they created 1303 long contracts, however considering the volatility in the markets they also built 32642 net long contracts in Index Put options to hedge their positions.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 141 1 1 1.1 1.0
Index Short 132 (0) (0)
Index Call Long 214 11 11 2.5 0.8
Index Call Short 87 37 37
Index Put Long 300 19 19 2.6 1.0
Index Put Short 116 15 15
 

What not to miss today

Published on: 7:50 am

  • Markets to open gap up; Nifty support @10744, resistance 10958.
  • FIIs sold 332cr (cash), bought 171cr in Index Futures.
  • Rupee appreciated 26 paise to 69.58/$.
  • Asian shares up as US-China postpone tariff escalation. Read more.

Bulk deal

Published on: 7:31 am

  • Bharat Heavy Electricals: Integrated Core Strategies (Asia) acquired 3.01cr shares 0.82% equity at Rs68.57 each.
  • CARE Ratings: Copthall Mauritius Investment acquired 1.52lakh shares or 0.52% equity at Rs957.2 each.
  • Divi’s Laboratories: Integrated Core Strategies (Asia) sold 18.86lakh shares or 0.71% equity at Rs1,438.98 each.
  • Repco Home Finance: Pabrai Investment Fund sold 6.84lakh shares or 1.09% equity at Rs338.17 each.

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