Latest news and updates

14th Dec, 2018

Markets close on a lackluster note, Nifty ends 14 points higher

Published on: 4:10 pm

  • Indian equities ended the trade on a lackluster note with major indices such as the Nifty & Bank Nifty posting marginal gains of ~0.13%/0.04%.
  • The indices managed to extend the gains for the fourth consecutive session. Read more.

Markets end lacklustre session marginally higher

Published on: 3:40 pm

  • Benchmark indices ended maginally higher in today's session and remained largely flat throughout the day.
  • The Nifty closed just above the 10,800 mark, while the Sensex closed 33 pts higher at 35,962.
  • All sectoral indices ended in the green, except Pharma, Financial Services, and Metal stocks.

Gayatri Projects wins order worth Rs493cr

Published on: 3:25 pm

  • Shares of Gayatri Projects were down ~2% in afternoon trade on Friday even as the company announced winning an order worth Rs493cr.
  • “This project is in joint venture with Gayatri Projects being the lead partner with 74% stake,” the company added in the exchange filing on Friday afternoon. Read more. 

ONGC gains 3% on share buyback proposal

Published on: 2:58 pm

  • Shares of Oil & Natural Gas Corpn (ONGC) gained 3% on Friday after the company in its filing to the exchanges informed that its board of directors would consider a buyback proposal in a meeting on December 20.
  • Further, for the prohibition of insider trading in dealing with the securities of the company, ONGC has closed the "trading window for the designated persons from December 17 to December 24 (both days inclusive)," the company said in a press note to the exchanges on Friday. Read more. 

Sensex, Nifty flat; ONGC, RComm gains

Published on: 2:56 pm

  • Equity benchmark indices were trading flat in the last trading hours on Friday with the Sensex gaining 43 points at 35,974 levels, while the Nifty rose 3 points at 10,795 levels.
  • Among shares, Bharti Airtel, IOC, ONGC, Yes Bank, and BPCL gained the most on the NSE. Conversely, HDFC, HCL Tech, Wipro, Cipla, and UPL shares lost the most.
  • Market breadth on the NSE was negative with 886 shares declining, 791 shares advancing, while 384 remaining unchanged.

RCom rises 2% as SC directs DoT to issue NOC for spectrum sale

Published on: 2:40 pm

  • Shares of Reliance Communications climbed 2% in the afternoon session on Friday after a PTI report said that the Supreme Court directed the Department of Telecommunication (DoT) to issue an NOC to allow the company to sell spectrum to Reliance Jio within 2 days.
  • The development comes after Reliance Realty furnished the corporate guarantee of Rs1,400cr to the Telecom Department as directed by the Supreme Court, the report said.  Read more. 

India's WPI inflation eases to 4.64% in November

Published on: 1:41 pm

  • The annual rate of inflation, based on monthly WPI, stood at 4.64% yoy (provisional) for the month of November 2018 vs. 5.28% (provisional) mom. Build-up inflation rate in the financial year so far was 4.73% compared to a build-up rate of 2.83% in the corresponding period of the previous year, as per a press noted released by the Government today.
  • The rate of inflation based on the WPI Food Index consisting of "Food Articles" from the Primary Articles group and "Food Product" from the Manufactured Products group decreased from -0.64% in October 2018 to -1.96% in November 2018. Read more. 

Dr. Lal PathLabs gets NCLT approval for Delta Ria acquisition

Published on: 1:35 pm

  • Dr. Lal PathLabs has received an approval from the Ahmedabad bench of the National Company Law Tribunal (NCLT) for a scheme of amalgamation between the company and Delta Ria & Pathology Private Limited.
  • "NCLT has sanctioned the scheme of amalgamation between Dr. Lal PathLabs Limited (the transferee company) and Delta Ria and Pathology Private Limited (the transferor company), a wholly owned subsidiary of the transferee company," the company said in a press note to the exchanges on Friday. Read more. 

Live share market update: Indices flat in intraday trade

Published on: 12:45 pm

  • The Indian markets consolidated after opening marginally lower on Friday.
  • The Nifty was trading 15 points higher at 10,807, while Bank Nifty was up 22 points at 26,836. Read more. 

Brahm Dutt likely to be non-executive chairman of Yes bank: Media Report

Published on: 11:55 am

  • A media report suggested that Brahm Dutt could be named the interim non-executive chairman of Yes bank.
  • At present, Brahm Dutt is serving as an Independent Director of the bank and has been holding the position since July 24, 2013. Read more. 

Fortis drops 10% as SC puts sale to IHH on hold

Published on: 11:40 am

  • Shares of Fortis have tanked 10% after Supreme Court has asked to maintain the status quo on the sale of the Fortis Healthcare to Malaysia’s IHH.
  • Fortis Healthcare, which was likely to receive some stability after IHH bought it, however with the SC order, it again enters another round of uncertainty and instability. Read more. 

Gold prices slip, silver rates stay muted

Published on: 11:35 am

  • Gold prices were trading marginally down in Friday’s trading session as a fall in prices caused by the strong dollar was offset by uncertainty around the Federal Reserve’s next year’s policy outlook.
  • Further, gold prices on the Multi Commodity Exchange (MCX) ended lower on Thursday amid a sharp rally in the domestic equity market and a strong Indian rupee.Read more. 

IEX gains 4% as board to consider buyback proposal

Published on: 11:10 am

  • Shares of Indian Energy Exchange (IEX) were trading 4% higher on Friday after the company, in a filing to the exchanges, informed that its board will consider a share buyback proposal at its board meet on December 20.
  • "The meeting of the board of directors of the company will be held on, Thursday, December 20, to consider a proposal for the buyback of fully paid-up equity shares of the company," IEX said in a statement to the exchanges after the market hours on Thursday. Read more. 

TVS Motor launches three new products in Peru market to further accelerate growth

Published on: 11:00 am

  • TVS Motor Company, a leading manufacturer of two-wheelers and three-wheelers, announced the launch of its super premium offering TVS Apache RR 310, the 125cc connected scooter TVS NTORQ 125, and race machine TVS Apache RTR 160 4V for the Peru market.
  • Chennai-based TVS Motor Co posted a 38.7% jump in its domestic scooter sales at 1,05,576 units for the month of November, 2018. Read more. 

Infosys announces joint venture with Hitachi, Panasonic, and Pasona in Japan

Published on: 10:20 am

  • As per an exchange notification, Infosys has formed a joint venture (JV) with Hitachi, Ltd., Panasonic Corporation, and Pasona Inc. wherein it will acquire 81% of the shareholding in Hitachi Procurement Service Co., Ltd (HIPUS).
  • Hitachi Procurement is Hitachi’s fully owned subsidiary and handles indirect materials purchasing functions for the Hitachi Group. Hitachi, Panasonic, and Pasona will be minority shareholders of the entity. Read more. 

Markets steady ahead of RBI board meet outcome

Published on: 10:15 am

  • Equity benchmark indices were oscillating between its gains and losses in the morning session on Friday, indicating cautious sentiments of investors ahead of the Reserve Bank of India’s board meet outcome later today.
  • The Sensex was trading 14 points up at 35,943 levels, while the Nifty gained 4 points to trade at 10,795 levels. Read more. 

Telecom stocks up as TDSAT revokes TRAI's predatory pricing norms

Published on: 10:10 am

  • The telecom tribunal on Thursday revoked Telecom Regulatory Authrority of India (TRAI)'s new norms on predatory pricing stating that the norms did not have the required transparency.
  • The order comes as a much needed relief to telecom operators such as Bharti Airtel and Vodafone Idea who were of the opinion that the rules favored the new entrant in the space i.e. Reliance Jio. Read more. 

Binani Cement is now “Ultratech Nathdwara Cement Limited”

Published on: 10:05 am

  • Shares of UltraTech Cement were up ~2% in early morning trade on Friday as the company announced changing the name of Binani Cement to "Ultra Tech Nathdwara Cement Ltd." Ultratech acquired Binani cement on Nov 20, 2018. Read more.
  • With the acquisition, Ultratech Cement capacity in the northern region will be enhanced to 24MTPA and the cement major is poised to become one of the strongest players in the market. Read more. 

Adani Enterprises acquires Alpha Design for Rs400cr

Published on: 9:55 am

  • Adani Enterprises Ltd on Thursday announced acquisition of aerospace and defence player Alpha Design Technologies Pvt Ltd for Rs400cr in an all-cash deal.
  • The acquisition strengthens Adani’s positioning in the defence sector. Alpha Design Technologies provides Adani Defence and Aerospace a strong tier-1 capabilities for building a base for graduating to platform capabilities. Read more. 

NMDC sees production remain constant in November 2018 despite shutdown at Donimalai

Published on: 9:45 am

  • NMDC reported strong iron ore sales in November 2018, with sales rising 25% yoy to 3.3mn tonnes.
  • This rise in production came despite the shutdown at the Donimalai mine as production from Chattisgarh rose 21.5% mom. Read more. 

Nifty opens below 10,800 mark; Nifty IT sole sectoral gainer

Published on: 9:23 am

  • Equity benchmark indices opened on a lower level on Friday.
  • Sensex is trading at 35,841 levels up by 88 points, while Nifty is trading at 10,763 levels down by 23 points.
  • The indian rupee is trading at 71.75 per dollar stronger by 5 paise from its opening rate.
  • All Nifty sectoral indices trade in red except the IT index which is up by 0.4%.

Motherson Sumi rumoured to be in talks with Germany based Leoni for possible merger

Published on: 9:15 am

  • Global auto ancillary major, Motherson Sumi Systems Limited (MSSL), could be in early stage talks to acquire German auto ancillary maker Leoni AG (Leoni), as per Reuters.
  • The news is unconfirmed as yet.
  • The deal, if it materializes, could be worth more than €1bn ($1.14bn). Read more. 

Asian markets look weaker on global clues

Published on: 9:10 am

  • Asian stock markets began Friday with small losses as the recent recovery in equities lose its momentum.
  • Japanese Nikkei traded in the red after having a stellar week of gains. Read more. 

IOC to buyback 29.76cr shares at Rs149 apiece

Published on: 9:00 am

  • Indian Oil Corporation has announced share buyback of over 29.76cr shares at Rs149 apiece.
  • The total amount for the consideration will not exceed Rs4,435cr. Read more. 

Biocon and Mylan to gain after Sanofi loses two Lantus patents

Published on: 8:59 am

  • The Patent Trial and Appeal Board (PTAB) has invalidated two formulations patents on Sanofi’s blockbuster biologic Lantus. Mylan and its manufacturing partner, Biocon are developing the Lantus biosimilar, branded as Semglee. Read more. 

Share Market Update: 10 Stocks that have witnessed maximum change in its Put-Call ratio

Published on: 8:40 am

  • Put/Call ratio (PCR) is a popular derivative indicator, specifically designed to help traders gauge the overall mood of the market.
  • The ratio is calculated either on the basis of options trading volumes or on the basis of the open interest for a particular period. Read more. 

Top stocks in focus: IOC, Adani Enterprises, HDFC

Published on: 8:30 am

  • Indian Oil Corporation’ board approves buyback of shares at Rs149/share and declares a dividend of Rs6.75/share.
  • Adani Enterprises acquires Alpha Design for Rs400cr.
  • Indian Energy Exchange’s board to meet on December 20 to consider buyback proposal. Read more. 

Current FII Data

Published on: 8:29 am

FII/DII Data:  In yesterday’s trading session, FIIs purchased 675cr stock in the cash market, whereas DIIs sold 51cr worth of stock. In the derivative market, FIIs purchased 2395cr of Index futures and bought 3273cr worth of Index options. In the Stock futures segment, FII’s sold 95cr worth of stock futures and bought 259cr stock options.

FII View: FIIs created bullish positions in Index Futures in yesterday’s trading session, which is deduced by the fact that they created 17372 fresh long contracts while simultaneously reducing 15155 short contracts in the segment. However, considering the volatility in the markets they also purchased 10329 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 166 12 19 0.9 0.9
Index Short 183 (8) 39
Index Call Long 240 (4) 25 2.4 0.8
Index Call Short 100 2 57
Index Put Long 347 3 38 2.3 0.9
Index Put Short 148 (14) 47

SGX Nifty indicating a negative opening for the market, in-line with Asian peers

Published on: 8:12 am

  • SGX Nifty is at 10,778, down 48 points.
  • For today, we expect morning profit booking as weak global cues dominate the headlines.
  • Yesterday, Nifty saw another strong day of gains as stronger than expected IIP (index of industrial production) numbers coupled with lower than expected inflation saw foreign investors also turn buyers. Read more. 

Broker Radar for December 14

Published on: 7:55 am

Citi Maintained ‘Neutral’ on Yes Bank with a TP of Rs215
  • Stock to remain range bound despite low valuations.
  • Multiple board and management appointments an overhang.
  • Uncertainty around divergence report for the previous financial year an overhang. Read more. 

Derivative Watch

Published on: 7:54 am

  • Markets surge higher on the back of broad-based buying across the sectors with rate sensitive stocks leading the surge.
  • Ujjivian Financial Services and India Bulls Housing Finance witnessed fresh long buildup in yesterday's trade.
  • India Vix continued to trend lower, hitting a multi-month low in intraday trade before ending 1.6% lower at 15.5.
  • Bank Nifty currently faces resistance at the 27,000-mark, which has the highest open interest build-up of ~6lakh shares (27th Dec Expiry), while support on the downside is seen at 26,500.

What not to miss today

Published on: 7:47 am

  • Markets to open down; Nifty support @10750, resistance 10840.     
  • FIIs bought 675cr (cash), 2395cr in Index Futures.
  • US, Asian markets trade in negative territory.
  • Oil prices rise as IEA forecasts supply deficit in 2019. Read more.

Bulk deal

Published on: 7:38 am

  • Ashapura Intimates Fashion: DSP Small and Mid-Cap Fund sold 17.3 lakh shares or 6.88% equity at Rs 19.2 each.
  • Ashapura Intimates Fashion: Victory Expedition Emerging Markets Small Cap Fund sold 3.6 lakh shares or 1.42% equity at Rs 19.25 each.
  • Max Financial Services: New York Life Insurance company acquired 50lakh shares or 1.86% equity at Rs 429.5 each.
  • Max Financial Services: Max-Ventures Investment Holdings sold 50lakh shares or 1.86% equity at Rs 429.5 each.

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