Latest news and updates

12th Dec, 2018

Nifty Pharma index gains little in today's rally

Published on: 4:35 pm

  • All Nifty sectoral indices closed in the green with Nifty Realty up 4.3%, Nifty Auto up 3.6%, while Nifty Pharma was up just 0.6%.
  • Equity benchmark indices closed in the green on Wednesday with the Sensex closing 630 points higher at 35,780 levels. The Nifty also climbed 188 points to trade at 10,738 levels. Read more.

Nifty closes above 10,700 mark; Realty and Auto stocks lead

Published on: 3:40 pm

  • Equity benchmark indices closed on a higher level on Wednesday.
  • Sensex closed at 35,779 levels up by 629 points, while Nifty closed at 10,736 levels up by 187 points.
  • All Nifty sectoral indices went green with Realty and Auto leading at 4% and 3% respectively.
  • Hero Motocorp and Indiabulls Housing Finance lead the gainers in NSE stocks with 7% and 6% respectively.

Vivimed-Strides JV gets approval for Albendazole tablets

Published on: 3:15 pm

  • Shares of Vivimed Labs jumped 8% on the BSE in the last hour of trade on Wednesday. The pharma company announced that its 50:50 JV with Strides -- Strides Vivimed Pte. Ltd, Singapore, has received approval for Albendazole Tablets USP 200mg from the USFDA.
  • "This is the second generic approval by USFDA for Albendazole Tablets," the company said in the filing. Read more.

Nifty Realty index climbs 4% led by Indiabulls Real Estate, Godrej Properties

Published on: 2:53 pm

  • The Nifty Realty index climbed 4% in the afternoon session on Wednesday amid heavy buying in Indiabulls Real Estate, Godrej Properties, DLF, and Oberoi Realty.
  • Shares of Indiabulls Real Estate and Godrej Properties, which spurted 10% and 6%, respectively, were leading the index’s gain. Read more. 

Nifty trading near 10,700 mark; Realty and Auto top sectoral gainers

Published on: 2:46 pm

  • Equity benchmark indices witness positive momentum on Wednesday,
  • Sensex is trading at 35,623 levels up by 473 points, while Nifty is trading at 10,692 levels up by 143 points.
  • All Nifty sectoral indices go green with Realty and Auto indices leading at 4% and 3% respectively.
  • Hero Motocorp and Indiabulls Housing Finance lead the gainers in stocks with 7% and 5% respectively.

Ambuja Cements up ~2% on capacity addition worth Rs960cr

Published on: 2:20 pm

  • Shares of Ambuja Cements are trading ~2% higher after the board approved additional annual clinker capacity worth Rs960cr.
  • Initially in February 2018, the Board of Directors had approved an initial investment of Rs1,390cr for the first phase of the Greenfield Clinkerisation project of annual capacity of 1.71mn tonnes at Marwar Mundwa in the State of Rajasthan. Read more. 

Ramco System spurts 6% after order win in US Defense space

Published on: 2:10 pm

  • Shares of Ramco Systems soared 7% on the BSE as the company has secured another deal from the US Defense Forces, to manage its fleet of fighter aircraft used for highly complex training fleet and Defense contract requirements.
  • Ramco’s one stops solution will cover all functional areas in a single software, enabling the client adhere to defence regulatory needs. Read more. 

Nifty Auto index surges led by Hero MotoCorp, M&M

Published on: 1:30 pm

  • The NSE Auto index was trading 3% up at 9,115 during afternoon trade on Wednesday.
  • The stock market is currently trading off its day's high with the Nifty hovering around the 10,650-mark. Read more. 

Live market update: Markets consolidate after opening gap up

Published on: 1:20 pm

  • Indian equity markets consolidated after giving a gap up opening on Wednesday.
  • Currently, the Nifty is trading 92 points higher at 10,640, while Bank Nifty is up 280 points at 26,444 led by strong gains in PSU banking stocks. Read more. 

McDonald’s opens new store in Thiruvananthapuram; stock up 3%

Published on: 1:11 pm

  • Shares of Westlife Development, the holding company of McDonald's-operator Hardcastle Restaurants, was trading ~3% higher after the company announced the opening of a new store in Thiruvananthapuram.
  • Hardcastle Restaurants, the master franchise of McDonald’s in West and South India, announced the launch of the first McDonald’s in the city on Wednesday. Read more. 

AAVAS Financiers stock rises 2%

Published on: 12:25 pm

  • Shares of AAVAS Financiers rose 2% on the BSE after brokerage and research firm Citi initiated coverage on the stock with a "Buy" rating with a price target of Rs930, implying a potential upside of 18% from the last regular trade, as per media reports.
  • The brokerage firm expects the company's AUM and profit to grow at a CAGR of 35%-33%, respectively, over FY18-21. Read more. 

ACC gains 2% after board approves expansion plans

Published on: 12:10 pm

  • Shares of ACC were trading 2% higher in the afternoon session on Wednesday after the company’s board approved expansion plans worth Rs3,000cr.
  • Accordingly, the board has approved a proposal for setting up a Greenfield Integrated Cement Plant at Ametha in Madhya Pradesh with a clunker capacity of 3MTPA and cement capacity of 1MTPA. Read more. 

JSW Steel November production rises 2% yoy

Published on: 11:58 am

  • JSW Steel posted a 2% yoy rise in crude steel production for the month of November 2018.
  • This was due to a 5% yoy fall in flat steel production in the same month. Read more. 

Ashok Leyland jumps 3% on signing defence MOU with Israel’s ELBIT systems

Published on: 11:54 am

  • India’s pure play Commercial Vehicle (CV) manufacturer, Ashok Leyland Limited (ALL) signed a Memorandum of Understanding (MOU) with Israel-based defence manufacturer ELBIT Systems (ELBIT).
  • As part of this agreement, ALL will provide High Mobility vehicles (HMV) for mounting ELBIT’s artillery guns and systems. Read more. 

NBCC wins order worth Rs172cr; stock up ~5.5%

Published on: 11:45 am

  • Shares of NBCC were trading up 5.5% on Wednesday morning after the company announced an order win.
  • The Rs172cr-contract is from the Ministry of Skill Development and Entrepreneurship of the central government. Read more. 

UFO Moviez gains 6% as non-promoters agree to sell stake in Qube Digital

Published on: 11:25 am

  • Shares of UFO Moviez gained 6% on Wednesday after its non-promoter entities agreed to sell their stake in Qube Digital to the company and ICICI Ventures.
  • "The investors will sell their stakes for Rs264.88 per share versus an earlier price of Rs302.65 per share," the company had said in a press note to the exchanges after market hours on Tuesday. Read more. 

PSU Bank, Financial stocks gain; Yes Bank surges 4%

Published on: 11:10 am

  • Banking and non-banking financial companies (NBFCs) stocks gained on Wednesday after the government appointed a successor to Urjit Patel.
  • After market hours on Tuesday’s trade, Shaktikanta Das, a former economic affairs secretary, was appointed as the new governor of the central bank. Read more. 

Yes Bank jumps ~5% ahead of Dec 13 board meeting

Published on: 10:59 am

  • Shares of Yes Bank jumped 5% in early morning trade on Wednesday ahead of the company’s board meeting scheduled on Dec 13, 2018.
  • The board members will discuss the list of potential candidates for the position of next MD and CEO after Rana Kapoor's term ends on January 31, 2019. Read more. 

Cadila, Zydus Wellness gain on CCI approval for Heinz India acquisition

Published on: 10:55 am

  • Shares of Cadila Healthcare and Zydus Wellness (ZWL) climbed ~2% each on Wednesday after the Competition Commission of India (CCI) granted approval for ZWL's acquisition of Heinz India Private Limited jointly with Cadila Healthcare Limited. Read more.
  • Hence, ZWL will primarily be acquiring Heinz India's business related to four brands - Glucon-D, Nycil, Sampriti, and Complan, through this transaction, the company said in a press note to the exchanges on Tuesday after market hours. Read more. 

Tata Sponge up ~2% on getting CCI nod to acquire Usha Martin’s steel business

Published on: 10:38 am

  • Shares of Tata Sponge rose ~2% in early morning trade on Wednesday on getting a green signal from CCI to acquire Usha Martin’s steel business.
  • Shares of Usha Martin also surged 6% in the morning trade. Read more.

Rupee slips further; trades at 72.14/$

Published on: 10:22 am

  • The Indian rupee extended its losses for the second consecutive session on Wednesday. The local unit opened lower by 25 paise against the US dollar amid a rise in oil prices and a strengthening greenback.
  • Currently, the currency is trading 27 paise lower at 72.14/$. Read more.

Sensex climbs 300 pts; Realty, Auto stocks lead

Published on: 9:54 am

  • Equity benchmark indices opened higher on Wednesday amid positive global cues. In the state elections outcome yesterday, the BJP lost power in the three key states of Rajasthan, Madhya Pradesh and Chhattisgarh.
  • The Sensex rose 300 points to 35,452, while the Nifty jumped 88 points to 10,637. The market breadth is positive as 1,243 shares advanced, 270 shares declined, and 511 shares remained unchanged. Read more.

Nifty opens above 10,600 mark; Realty top sectoral gainer at 2%

Published on: 9:23 am

  • Equity benchmark indices opened on a higher level on Wednesday.
  • Sensex is trading at 35,334 levels up by 184 points, while Nifty is trading at 10,606 levels up by 57 points.
  • Indian rupee is trading at 72.1 per dollar which is flat from its opening rate.
  • All Nifty sectoral indices gain with Realty leading at 2%.

Share Market Update: Open interest Guide (December 12, 2018)

Published on: 8:59 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. 

US appeals court rejects DRL's request to start selling gSuboxone immediately

Published on: 8:59 am

  • From the news sources we learn that Dr. Reddy’s Lab (DRL) will have to wait for some more time to start selling its generic copy of Suboxone.
  • The Federal Circuit (FC) has rejected DRL’s request to immediately start selling gSuboxone in the US markets. Read more. 

Current FII Data

Published on: 8:30 am

FII/DII Data: In yesterday’s trading session, FIIs sold 2421cr stock in the cash market, whereas DIIs bought 2255cr worth of stock. In the derivative market, FIIs sold 635cr of Index futures and bought 43cr worth of Index options. In the Stock futures segment, FIIs bought 672cr worth of stock futures and sold 6cr stock options.

FII View: FIIs created bearish positions in Index Futures in the yesterday’s trade, which is deduced by the fact that they created 1974 fresh short contracts, while simultaneously reducing 3542 long contracts in the segment. However in order to hedge their positions they also purchased 20209 long contracts in Index Call Options.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 151 (2) 8 0.8 0.7
Index Short 191 1 44
Index Call Long 250 9 30 2.4 0.8
Index Call Short 104 12 63
Index Put Long 329 8 30 1.9 0.8
Index Put Short 174 22 73

Bulk deal

Published on: 8:28 am

  • DRS Dilip Roadlines: Festino Vincom Limited purchased 2.67lakh shares of the company at Rs75.29 per share and Shah Babulal Vadilal 1.31 lakh shares at Rs75.25 per share, while Harsha Rajeshbhai Jhaveri sold 96,000 shares at Rs75.25 a share on the NSE.
  • Punj Lloyd: IFCI continued to offload its stake in the company, selling another 53.05lakh share at Rs3.67 per share on the NSE.

Top stocks in focus: Reliance Industries, DR Reddy's, Cadila Healthcare

Published on: 8:15 am

  • Reliance Industries’ Reliance Jio Infocomm to transfer fibre and tower businesses into two separate companies.
  • US court put a ban on sales of Dr. Reddy's Suboxone Film, a generic version of Indivior Plc, a media report said. Read more. 

SGX Nifty indicating a flat start for the Indian markets, Asian peers surge higher

Published on: 8:05 am

  • SGX Nifty is at 10,594, down 6 points. SGX Nifty indicating a flat start for the Indian markets,asian peers surge higher.
  • Yesterday, Nifty saw a sharp fall which got bought into with the Index recovering over 230 points from the lows to the high of the day. Read more. 

Broker Radar for December 12

Published on: 7:59 am

CLSA says NDA should win 245-280 seats in 2019, enough for Modi to retain power.
  • SP-BSP combine in the state of Uttar Pradesh could be a big challenge for the BJP.
  • Key worry for markets would be if the domestic investors start to reduce new investments.
  • State election manifesto shows competitive populism which could aid consumption but impact capex recovery. Read more. 

What not to miss today

Published on: 7:51 am

  • Markets to open flat; Nifty support @10442, resistance 10675
  • FIIs sold 2421cr (cash), 635cr in Index Futures.
  • US shares mixed; Asian up after the Sr. executive, Huawei was granted bail.
  • Economic Secretary Shaktikanta Das named as new RBI Governor.
  • Rupee falls 53 paise to close at 71.85/$. Read more.

Derivative Watch

Published on: 7:40 am

  • In yesterday's trading session, Nifty Futures witnessed short covering, while Bank Nifty Futures added fresh long positions.
  • On the options front, short positions were built in out-of-the-money put option strikes with 10,000PE and 10,200PE adding ~7.69lakh shares and ~6.87lakh shares, respectively, as traders tried to benefit from the sharp decline in implied volatility.
  • India Vix ended the day 12.2% lower at 17.9.

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