Latest news and updates

13th Dec, 2018

Nifty closes below 10,800 mark; Nifty Realty top sectoral gainer

Published on: 3:41 pm

  • Equity benchmark indices closed on a mild positive level on Thursday.
  • Sensex closed at 35,930 levels up by 150 points, while Nifty closed at 10,791 levels up by 54 points.
  • The indian rupee is trading at 71.63 per dollar stronger by 7 paise from its opening rate.
  • All Nifty sectoral indices gained except the Metal index which is down by 0.6%.

Tata Motors rises 2% on announcing passenger vehicle price hike

Published on: 3:04 pm

  • Shares of Tata Motors jumped 2% in intraday trade on Thursday after the auto major announced that it would be increasing prices of its entire passenger vehicles range by up to Rs40,000, starting January 01, 2019.
  • This hike in price is due to rising input costs. Read more. 

Steel Strips Wheels gets order for 90,000 truck wheels

Published on: 2:50 pm

  • Steel Strips Wheels Ltd (SSWL) has bagged their largest repeat exports order for the Truck & Trailer aftermarket from the US.
  • The order comprises the supply of ~90,000 truck steel wheels in four months from its Chennai plant. Read more. 

Is declined rupee value making the real estate investment a big wheel for NRIs?

Published on: 2:45 pm

  • Historically it has been seen that whenever there is a decline in rupee value there is a corresponding increase in interest from NRIs to invest in India.
  • According to a recent report, foreign investment in Indian real estate sector stood at $2.6bn in 2017, recording a 31% growth over 2016. Read more. 

EU imposes Euro13.96mn fine on Unichem Labs

Published on: 2:30 pm

  • Unichem Laboratories in its filing to the exchanges on Thursday informed that a European court has supported the decision of the European Commission (EC) to impose a fine of EUR13.96mn on the company and its subsidiary in a litigation over blood pressure lowering drug Perindopril.
  • "The company is disappointed and is currently reviewing the detailed judgment. It will take appropriate legal advice on further action, including the possibility of filing of an appeal before the Court of Justice of the European Union," said the company in a press note. Read more. 

Nifty FMCG index gains led by Godrej Consumer Products

Published on: 2:30 pm

  • The Nifty FMCG index was trading higher in the afternoon session on Tuesday with shares of Godrej Consumer Products up 4%. Shares of Jubilant Food, Britannia, Colgate, and UBL were also trading higher in the range of 3.5-3%, respectively, followed by HUL and Dabur, which were up ~2% each.
  • On the flip side, United Spirits, and Emami were trading in the negative zone. Read more. 

Pricol zooms ~15% after announcing JV with Pointer Telelocation

Published on: 1:52 pm

  • Shares of Pricol zoomed 15% in morning trade on Thursday after the company announced a joint venture with Pointer Telelocation for telematics solution. Read more.
  • Pricol Limited (founded as Premier Instruments and Controls Limited) is an automotive component and precision-engineered products manufacturer based in Coimbatore, India. Read more. 

SeQuent receives EIR from USFDA for Mangalore unit

Published on: 1:50 pm

  • SeQuent Scientific in its filing to the exchanges on Thursday informed that its subsidiary received an Establishment Inspection Report (EIR) from USFDA for its GLP-compliant, analytical, and bioanalytical services laboratory at Mangalore.
  • The facility caters to "the global pharmaceutical industry in the areas of analytical method development, stability, microbiology testing, and method validation of pharmaceutical and cosmeceutical products," the company said in a press note. Read more. 

Ashoka Buildcon bags bid worth Rs214cr

Published on: 1:50 pm

  • Ashoka Buildcon (ABL) has submitted bid to Jharkhand Bijli Vitran Nigam Limited (JBVNL) for the Project viz. "Rural Electrification Works of Package-4 (Comprising Ranchi, Khunti, Gumla, Simdega & Lohardaga District) in Jharkhand State under Jharkhand Sampurna Bijli Achchhadan Yojana (JSBAY) Phase-II", the company said in the BSE filing.
  • In the bid opening meeting on December 12, 2018, the company has emerged as the Lowest Bidder (L-1) for Package 4, the Bid Value of which is Rs214 cr, with a completion period of 18 months, the company added. Read more. 

Nifty hovers around 10,800 mark; Infosys, HDFC Bank stocks lead

Published on: 1:06 pm

  • The markets extended the rally for the third consecutive session led by strong gains in rate-sensitive stocks after inflation cooled to a 17-month low in November, with expectations of a rate cut emerging in the markets.
  • The Nifty was trading 47 points higher at 10,784, while Bank Nifty was 231 points higher at 26,875.
  • Tata Motors (TML) stock gained 2% after the company will hike prices of its passenger vehicles across models by up to Rs40,000 from January 1, 2019, to offset the impact of rising input costs and increase in fuel prices.

Live share market update: Markets consolidate, Nifty up 47 points

Published on: 1:00 pm

  • The Indian markets consolidate after opening gap up on Thursday.
  • The markets extended the rally for the third consecutive session led by strong gains in rate-sensitive stocks after inflation cooled to a 17-month low in November, with expectations of a rate cut emerging in the markets. Read more. 

Allahabad Bank stocks gains 2% in the afternoon session

Published on: 12:45 pm

  • Shares of Allahabad Bank rose 1.5% during afternoon session on the BSE.
  • Meanwhile, banking stocks were trading higher post the appointment of the new RBI Governor. Newly appointed Governor Shaktikanta Das has convened a meeting with MD and CEOs of public sector banks to discuss issues facing the banking sector. Read more.

NBCC secures business worth Rs743.26cr in Nov; stock gains 3%

Published on: 12:41 pm

  • Shares of NBCC gained 3% in the noon session on Thursday after the company informed the exchanges that it had secured business worth Rs743.26cr in November.
  • Recently, the company bagged an order worth Rs172cr from the Ministry of Skill Development and Entrepreneurship of the Government of India. The scope of the project includes the construction of an office building in New Delhi. Read more.

Tata Motors to increase passenger vehicles prices from January 1

Published on: 12:40 pm

  • Tata Motors (TML) announced that the company would be increasing prices of its entire passenger vehicles range by up to Rs40,000 (depending on the model and city), starting January 01, 2019.
  • This hike in price is due to rising input costs and increase in fuel prices. Read more. 

Reliance Naval files writ petition with High Court against ONGC

Published on: 11:55 am

  • Reliance Naval and Engineering has filed a writ petition with the Honorable High Court of Bombay seeking direction to Oil and Natural Gas Corporation (ONGC) to accept the delivery of balance five offshore supply vessels (OSVs).
  • The Hon'ble High Court of Bombay vide its order dated November 30, 2018, has not admitted the said petition on the ground of ordinary remedy available in law under the contract.  Read more. 

Sensex erases opening gains; Sun Pharma, TCS stocks slip

Published on: 11:42 am

  • Equity benchmark indices gain after inflation cooled down to 17-month low. However, the market pared gains led by TCS, Sun Pharma, Coal Indian and Adani Ports.
  • The Sensex gained 152 points at 35,935, while the Nifty up 48 points to 10,786.
  • Top gainers in morning trade include Indiabulls HF, HPCL, Tata Motors, and SBI, while UPL, Sun Pharma, TCS, and Cipla were the top losers on the NSE.

SBI gains 3% after brokerage house raises price target

Published on: 11:33 am

  • Shares of SBI added 3% in the morning trade on Thursday after Morgan Stanley increased the price target to Rs375 from Rs350 while maintaining overweight, as per media reports.
  • Bad loans caused large losses in the previous financial year and the first half of the current financial year; however, the international brokerage firm expects this to turn around from the next financial year. Read more. 

PSU Bank, Financial stocks extend rally; Indiabulls Housing Finance, SBI rise

Published on: 11:30 am

  • Shares of banking and non-banking financial companies (NBFCs) extended gains by 1-2% on Thursday after gaining in yesterday's session post the appointment of the new RBI Governor.
  • Newly appointed Governor Shaktikanta Das has convened a meeting with MD and CEOs of public sector banks to discuss issues facing the banking sector. Read more. 

Rupee takes U-turn; appreciates 44 paise

Published on: 11:15 am

  • The Indian rupee took a U-turn in the late morning session on Thursday and appreciated 44 paise to trade at 71.59 against the dollar compared to its previous close of 72.01/$.
  • On Wednesday, the currency has declined 16 paise to close at 72.01/$. Read more. 

Suzlon energized by 50.4MW order win; stock up 2%

Published on: 11:11 am

  • Shares of Suzlon Energy, India's largest renewable energy solutions provider, are trading higher by 2% on its maiden order win for the development of a 50.4MW wind power project from Atria Power.
  • Suzlon will install 12 units of S111-140m and 12 units of S120-140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, with rated capacity of 2.1MW each. Read more. 

Soril Infra soars 5% on announcing entry into financial sector

Published on: 10:50 am

  • Shares of Soril Infra Resources Limited soared 5% in early morning trade on Thursday as the company announced foraying into the financial services industry to serve rural India.
  • “We wish to inform that to participate in the lending opportunities in unserved rural India, the Company has initiated the process to foray into financial services business with primary focus on providing financial services in rural India,” the infra company said in an exchange filing on Wednesday evening post market hours. Read more. 

Lupin gains after USFDA approves gTecfidera

Published on: 10:40 am

  • Shares of Lupin gained ~1% after the company’s Swiss subsidiary, Lupin Atlantis, received a tentative approval for Dimethyl Fumarate from the USFDA (Food and Drug Administration).
  • This drug is sold under the brand Tecfidera delayed-release capsules by Biogen. Dimethyl Fumarate is used in the treatment of multiple sclerosis. Tecfidera was approved by USFDA in March 2013 and its patents are valid until 2028. Read more.

Bandhan Bank surges after RBI grants 40 branch licenses

Published on: 10:30 am

  • Shares of Bandhan Bank surged 5% on the BSE in the morning trade.
  • The bank has received the RBI’s permission to open as many as 40 branches by the end of December. Read more. 

Gold prices decline for third consecutive day

Published on: 10:30 am

  • Gold prices were trading marginally down in Thursday’s morning session amid easing trade tensions between the US and China. Further, easing political worries in Europe put some pressure on the bullion.
  • UK Prime Minister Theresa May won the confidence vote, but faces an uphill task to pass the Brexit deal. Read more. 

Sonata Software acquires Sopris Systems; second acquisition in Dec

Published on: 10:14 am

  • Sonata Software North America, a wholly owned subsidiary of Sonata Software, has entered into a definitive agreement today with Sopris Systems LLC and its shareholders to acquire 100% stake in Sopris Systems LLC, a Delaware-based company.
  • Sopris is an enterprise business solutions company. It is a global, gold-certified Microsoft Dynamics solution provider specializing in Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) software for engineering and construction firms, specialty contractors, field services companies, and a variety of professional services firms. Read more. 

DLF defers QIP of 17.3cr shares to seek fresh approval from shareholders

Published on: 10:10 am

  • DLF on Dec 12, 2018, reported the exchanges that it has deferred the proposed qualified institutional placement (QIP) of 17.3cr equity shares.
  • The company’s board has now decided to seek re-approval from the shareholders as the current approval is valid till Dec 26, 2018, only. Read more. 

Strides gets USFDA approval for Lidocaine Ointment

Published on: 9:59 am

  • Strides Pharma Science Limited (Strides) announced that its step‐down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Lidocaine Ointment USP 5% from the United States Food & Drug Administration (USFDA). Lidocaine Ointment is a generic version of Xylocaine Ointment of AstraZeneca Pharmaceuticals LP.
  • According to IQVIA MAT data, the US market for Lidocaine Ointment USP 5% is approximately US$50mn. Read more. 

Nifty reclaims 10,800 mark; Yes Bank, Bandhan Bank stocks jump

Published on: 9:45 am

  • Equity benchmark indices extended rally for the third consecutive session tracking positive global clues.
  • The stock market rallied after the appointment of the new RBI governor and uncertainty surrounding state election outcome receded. Read more. 

Sadbhav Engineering receives order worth Rs981cr; stock gains 2%

Published on: 9:30 am

  • Shares of Sadbhav Engineering climbed 2% in the morning session on Thursday after the company bagged an order worth Rs981cr from National Highways Authority of India (NHAI).
  • An order has been received for "the construction of NH-24 Extension 4-lane bypass starting from Behta Road and terminating at Sitapur Road Chainage 4,79,500 (bypass chainage from 32.000/31.490km to 64.900/64.380 average length 32.895km) in Uttar Pradesh under NHDP Phase- VII-Package 2 on EPC mode," the company said in a press note to the exchanges after market hours on Wednesday. Read more. 

Nifty hits 10,800 mark; Nifty PSU Bank top sectoral gainer

Published on: 9:21 am

  • Equity benchmark indices opened on a higher level on Thursday.
  • Sensex is trading at 35,993 levels up by 214 points, while Nifty is trading at 10,800 levels up by 63 points.
  • The indian rupee is trading at 71.6 per dollar stronger by 10 paise from its opening rate.
  • All Nifty sectoral indices go green except the Pharma index which is down by 0.4%.

Lupin gets Tentative Approval for gTecfidera

Published on: 9:20 am

  • Lupin’s Swiss subsidiary, Lupin Atlantis, has received a tentative approval for Dimethyl Fumarate.
  • This drug is sold under the brand Tecfidera delayed release capsules by Biogen. Dimethyl Fumarate is used in the treatment of multiple sclerosis. Read more. 

Asian markets trade higher on trade hopes

Published on: 9:08 am

  • Asian stock markets and the pound were trading higher as investors breathed a sigh of relief after British Prime Minister Theresa May survived a no-confidence vote, and as China appeared to be taking more steps to meet US demands to open its markets.
  • Sterling rallied from a 20-month low after the vote, and trading at $1.2629. Read more. 

United Bank of India raises deposit rates by 25bps

Published on: 9:04 am

  • United Bank of India raised deposit rates across select maturities by 25bps. Fixed deposit rate for one-year tenure will increase to 6.5% from existing 6.35%, as per BSE filing.
  • The announcement was made after market hours. Read more. 

Taro gets final approval for Dapsone

Published on: 9:01 am

  • Sun Pharma’s subsidiary Taro has received tentative USFDA approval for manufacturing generic copies of Dapsone.
  • This drug is sold by Allergan under the brand Aczone. Read more. 

Current FII Data

Published on: 8:40 am

FII/DII Data: In yesterday’s trading session, FIIs sold 1299cr stock in the cash market, whereas DIIs bought 1121cr worth of stock. In the derivative market, FIIs sold 488cr of Index futures and bought 1300cr worth of Index options. In the Stock futures segment, FIIs sold 5cr worth of stock futures and bought 191cr stock options.

FII View: FIIs continued to create bearish positions in the derivative segment, which is deduced by the fact that they created 7531 fresh short contracts in Index Futures, while simultaneously creating 7898 long contracts in Index Put Options.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 148 (2) 6 0.7 0.7
Index Short 199 4 50
Index Call Long 250 (0) 30 2.5 0.8
Index Call Short 98 (5) 54
Index Put Long 337 2 34 2.0 0.8
Index Put Short 172 (1) 71

Pricol, Pointer Telocation to form JV for telematics solutions

Published on: 8:37 am

  • Pricol and Pointer Telocation entered into a joint venture (JV) to provide advanced telematics and IoT solutions in India and other countries in South East Asia. The announcement was made after market hours.
  • By way of background, under India's Ministry of Road Transport and Highway's (MoRTH) AIS 140 standard for Intelligent Transport Systems, Vehicle Tracking Systems will become a mandatory feature for all public transport vehicles and commercial vehicles requiring national permit beginning January 2019. Read more.

Top stocks in focus: Yes Bank, DLF, IOC, Lupin, Sun Pharma

Published on: 8:25 am

  • Yes Bank stock in focus as board meets today to shortlist names for new chairman for RBI’s approval and also consider the appointment of independent directors.
  • DLF’s board approved QIP of 17.3cr equity shares. Saurabh Chawla, Group CFO resigned, while Ashok Tyagi (who was the CFO till December 2017) will be the new group CFO. Read more. 

SGX Nifty indicating a gap up opening on the back of positive economic data and global cues

Published on: 8:21 am

  • SGX Nifty is at 10,834, up 46 points. For today, we expect the positive momentum to continue in the markets.
  • Yesterday, Nifty saw another stellar 200 point gain day as local funds & investors bought stocks aggressively after the twin events of state elections & change of guard @ the Reserve Bank of India got discounted. Read more.

What not to miss today

Published on: 7:49 am

  • Markets to open gap up; Nifty support @10660, resistance 10930.
  • FIIs sold 1299cr in (cash), 488cr in Index Futures.
  • Rupee fell 17 paise to 72.02/$.
  • US, Asian markets up on resurfacing hope over US-China trade deal truce. Read more.

Broker Radar for December 13

Published on: 7:48 am

 HSBC Initiated ‘Reduce’ on Gujarat State Petronet with a TP of Rs152.
  • Despite positive tariff revision, see earnings decline in the next financial year.
  • Decline in volumes and lower capacity utilisation to impact top-line.
  • Stock expensive at current multiples as a decline in earnings expected. Read more. 

Derivative Watch

Published on: 7:44 am

  • Nifty and Bank Nifty Futures witnessed a surge in open interest mainly fresh long positions on the back of a strong rally in the Indices.
  • On the options front, short positions were built in out-of-the-money put option strikes with 10600PE and 10500PE adding ~11.8 lakh shares and ~4.5 lakh shares, respectively, while short covering was witnessed in at-the-money and in-the-money call option strikes, which propelled the index higher.
  • India Vix witnessed a sharp decline for the second consecutive session and ended 11.9% lower at 15.8%.

Bulk deal

Published on: 7:41 am

  • Rolta India: Central Bank of India (capital market service branch) sold 20 lakh shares of the company at Rs10.07 a share on the NSE.

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