Latest news and updates

20th Dec, 2018

Indices snap seven day’s rally; Yes Bank, HPCL stocks gain

Published on: 3:33 pm

  • Equity benchmark indices snapped seven day’s rally on Thursday. The Sensex ended 53 points lower at 36,432, while Nifty fell 16 points at 10,952. Around 1,218 shares have advanced, while 1344 shares declined, and 167 shares remained unchanged.
  • HDFC Bank, HDFC, Infosys, ITS and Kotak Mahindra Bank are the positive contributors on the BSE.
  • Shares of ONGC ended slightly lower after the company will buy back shares for up to Rs4,022cr representing 2.34% stake in the company at Rs159 per share, as per BSE filing.

Ashoka Buildcon receives declaration date for NHAI project

Published on: 3:31 pm

  • Ashoka Buildcon in its filing to the exchanges stated that its subsidiary Ashoka Ankleshwar Manubar Expressway Private Limited has been informed that December 10 is its appointed date for the NHAI Project.
  • "The accepted bid project cost is Rs1,687cr". Read more. 

Container Corp stock swings after announcing bonus issue

Published on: 2:50 pm

  • Shares of Container Corp (CONCOR) are fluctuating between gains and losses after its board approved bonus issue of one share of every four shares held.
  • Board of Directors of CONCOR had recommended issue of Bonus shares to the shareholders of the company in proportion of one bonus share of Rs5 each for every four existing equity shares of Rs5 each held by them in the Company as on the Record date, to be fixed separately, as per BSE filing. Read more. 

IEX’s board approves buyback proposal

Published on: 2:35 pm

  • Indian Energy Exchange (IEX) in its filing to the exchanges on Thursday informed that its board has approved the buyback of its fully paid-up equity shares.
  • Reacting to this, shares of the company gained 1% on the BSE. Read more. 

Omkar Speciality gets patent to produce Halquinol; stock jumps ~5%

Published on: 2:15 pm

  • Omkar Speciality Chemicals received its seventh process patent from the Intellectual Property India, Government of India Patent office to produce ‘Halquinol’.
  • The process is safe, economic, and eco-friendly, the company said in a filing to the exchanges on Thursday. Read more. 

UPL stock gains ~1% on clarification

Published on: 1:59 pm

Shares of UPL Ltd were trading slightly higher on the BSE on Thursday after it issued a clarification tto a news article.
The company was clarifying to an Economic Times article dated December 19 which claimed, “Europe Drought Negative for Agrochem Co UPL”. Read more. 

Cosmo Films jumps 5.5% on launch of sealing film

Published on: 1:56 pm

  • Cosmo Films shares jumped 5.5% in intraday trade on Thursday after the firm launched a sterilizable conducting sealing film for wad and lidding applications for PP and PE containers.
  • The film can withstand high temperatures during the sterilization process, which increases the shelf life of the product. Read more. 

Government seeks Rs41,000cr recapitalization bonds for PSU Banks

Published on: 1:24 pm

  • As per media sources, the government is likely to make additional capital infusion in the public sector banks. As a result government is seeking Rs41,000cr recapitalization bonds.
  • This will be over and above the Rs1.35 lakh cr capital infusion announced by the government for the public sector banks (PSBs) in October 2017 to meet global capital risk norms called Basel III. Read more

Nifty Metal slips 1% led by Nalco, Hindalco, Vedanta

Published on: 1:03 pm

  • The Nifty Metal index slipped 1% on Thursday amid a selloff in aluminum stocks with NALCOHindalcoVedanta, and Hindustan Zinc leading the drop on the index.
  • Shares of Nalco, which was down 4%, led the drop on the metal index with Hindalco, Vedanta, and Hindustan Zinc also declining ~2% each and adding to the fall. SAILJSW SteelTata Steel, and Welspun Corp too dropped ~1% each. Read more

Tyre stocks buoyant on expectation of reduction in GST rate

Published on: 11:55 am

  • Tyre stocks were trading with gains of up to 6% due to possibility of cut in GST rates on tyres. As reported by The Economic Times, the GST Council could slash tax rates on automobile tyres from prevailing 28% to 18%. This was in-line with PM Modi’s announcement of rationalizing the 28% tax bracket (highest bracket). 
  • Mr. Modi had said that 99% of goods and services will fall in the 18% or lower GST rate bracket. 
  • In addition to this, crude prices have tumbled from $61 per barrel to $56 per barrel over past five days. Read here

Brent crude on slippery slope; declines ~2%

Published on: 11:47 am

  • Prices of the international benchmark for oil, Brent crude, slipped ~2% in Thursday’s morning trade, while West Texas Intermediate (WTI) climbed 2%.
  • At 11:45 AM IST, Brent crude contracts for February delivery slipped 1.5% to $56.5/barrel, while WTI rose 2% rose to 47.20/barrel. Read more. 

Om Metals zooms 13% on winning order worth Rs615cr

Published on: 11:45 am

  • Shares of Om Metals Infraprojects zoomed 13% in intraday trade on Thrusday after the company announced winning an order worth Rs615cr.
  • The company has won an award for planning, design, drawing, and construction of lsarda dam across Banas River in the village of Banetha in Tonk district, Rajasthan, on an EPC basis. Read more. 

Sensex slips over 180 points; Indiabulls Housing Finance, Yes Bank stocks gain

Published on: 11:37 am

  • Equity benchmark indices were trading lower following weak global clues. The Nifty50 trading down 55 points at 10,912, while the Sensex fell 184 points at 36,300.
  • Nifty Metal is the underperforming sector, down over 1% dragged by Nalco which fell 3% followed by Hindalco Industries and Hindustan Zinc which slipped 2% each.
  • The most active stocks were Indiabulls Housing Finance, Yes Bank, Axis Bank and BEML.

Jet Airways stock rises 1.5% ahead of board meet

Published on: 11:35 am

  • Shares of Jet Airways rose 1.5% on the NSE ahead of its board meet.
  • The company’s board is expected to discuss the next possible steps in its fundraising efforts, even as the airline undergoes a forensic investigation directed by its top lender SBI and tries to convince Etihad Airways to invest in it, as per media reports. Read more.

Aluminium stocks down on news of sanctions on Rusal being lifted

Published on: 10:58 am

  • Aluminium makers received a blow yesterday on news that the US is likely to drop sanctions against Rusal.
  • The US government and Rusal have reached an agreement under which Rusal promoter, Oleg Deripaska would significantly lower his stake in the company. Read more. 

Sensex, Nifty open in red amid negative global clues; Hindalco, Vedanta stocks decline

Published on: 10:05 am

  • Equity benchmark indices opened lower today after the Federal Reserve rate hike spooked global markets.
  • The Indian stock market snapped seven day’s rally and declined in today’s trade as heavy selling pressure was seen in HDFC twins, RIL, Infosys, and Kotak Mahindra Bank. Read more. 

Thomas Cook to amalgamate its three arms with itself

Published on: 10:05 am

  • The Board of Directors of Thomas Cook (TCIL), on December 19, 2018, approved amalgamation of three of its subsidiary companies with itself.
  • This includes the following entities:
  • TC Forex Services Limited (100% stake of TCIL)
  • TC Travel Services Limited (100% stake of TCIL). Read more. 

Bank of Japan keeps monetary policy unchanged

Published on: 10:02 am

  • The Bank of Japan kept monetary policy steady on Thursday.
  • In a widely expected move, the BOJ maintained its short-term interest rate target at minus 0.1% and a pledge to guide 10-year government bond yields around 0%. Read more. 

Sensex slips over 150 points; Hindalco, Vedanta stocks decline

Published on: 9:18 am

  • Equity benchmark indices snapped seven day’s rally and decline in today’s trade as heavy selling pressure were seen in HDFC twins, RIL, Infosys, and Kotak Mahindra Bank.
  • The Sensex is down 149 points at 36,317, while the Nifty is down 47 points or at 10,920.
  • The market breadth is negative as 760 shares advanced, while 740 shares declined and, 532 shares remained unchanged.

Reports suggest Reliance Jio denies to pay RCom dues

Published on: 9:05 am

  • Mukesh Ambani-led Reliance Industries’ Reliance Jio Infocomm clarified that in accordance with the agreement between the Jio and Anil Ambani-led Reliance Communications (RCom), the company won’t pay any previous liabilities of latter, media reports said on Wednesday.
  • As per media reports, Jio said they would like the agreement to be clear, but cannot give any such undertaking as asked by the Department of Telecommunications (DoT). Read more. 

Asian stock markets slip after Fed meet

Published on: 8:57 am

  • Asian stock markets declined on Thursday after the Federal Reserve raised rates, as expected, and kept most of its guidance for additional hikes next year, dashing investor hopes for a more dovish policy outlook.
  • As markets had expected, the central bank took the target range for its benchmark funds rate from 2.25% to 2.5%. Read more. 

Stock holders of Jet Airways can earn 7% guaranteed return by end of December expiry

Published on: 8:35 am

  • Reverse Cash and Carry arbitrage is a combination of Short position in underlying assets and a long position in an underlying future.
  • Reverse cash and carry arbitrage occurs when the market is in “Backwardation”, which means the future prices of an underlying asset are lower than the current spot price. Read more. 

Canara Bank to raise Rs3,000cr capital via bonds

Published on: 8:32 am

  • Canara Bank in its filing to the exchanges informed that its board has decided to raise Rs3,000cr capital via bonds.
  • The announcement was made by the bank after market hours on Wednesday. Read more. 

Pfizer, GlaxoSmithKline to form global consumer healthcare company

Published on: 8:30 am

  • Pfizer and GlaxoSmithKline have inked an agreement to create a premier global consumer healthcare company, the company said in a press note after market hours to exchanges on Wednesday.
  • As per an agreement, Pfizer will contribute its consumer healthcare business to GlaxoSmithKline’s existing consumer healthcare business. Read more. 

Current FII Data

Published on: 8:14 am

FII/DII Data: In yesterday’s trading session, FIIs bought 1209cr stock in the cash market whereas DIIs sold 481cr worth of stock. In the derivative market, FIIs bought 501cr of Index futures and sold 356cr worth of Index options. In the Stock futures segment, FIIs sold 71cr worth of stock futures and sold 324cr 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 5333 net long contracts in the segment, while simultaneously creating 2274 short contracts in Index Put Options. However, the long-short ratio in Index Futures currently stands at 0.8x since the start of the December series which is a bearish sign.

% Chg % Chg
Since Expiry
Short Ratio
 Since Expiry
Index Long 184 6 32 0.9 0.8
Index Short 211 3 59
Index Call Long 243 0 27 2.5 0.8
Index Call Short 99 3 55
Index Put Long 378 0 50 2.3 0.9
Index Put Short 165 1 64

Markets to open gap down tracking SGX Nifty

Published on: 8:13 am

  • SGX Nifty is at 10898, down 89 points.
  • We expect some consolidation around current levels as local funds book profits with the mid-caps seeing more traction on the upside.
  • On Wednesday, the Nifty saw another superb close with the index approaching 11000 levels and the mid-caps outperforming.
  • This came in as bond yields hit 8 months lows, rupee sees gains, and foreign investors turn big buyers. Read more.

Top stocks in focus: Reliance Industries, Pfizer, Coal India, Alembic Pharma

Published on: 8:10 am

  • Reliance Industries clarified on the news regarding Department of Telecommunications rejecting Reliance Communication-Jio spectrum deal stating that a correspondence was received by the company from DoT on Dec. 18 with respect to application and the company is seeking appropriate clarifications in this regard.
  • Pfizer Inc entered into a joint venture agreement with GlaxoSmithKline Plc to create a global consumer company. Read more. 

Broker Radar for December 20

Published on: 8:05 am

Nomura on US Fed; Dec FOMC meeting resulted in a less dovish message than what markets expected
  • Lack of a forcefully dovish message was most prominent in the post meeting statement
  • Seems Fed is not overly concerned about increased risk from slowing external growth. Read more. 

What not to miss today

Published on: 7:51 am

  • Markets to open gap down; Nifty support @10820, resistance 11050.
  • FIIs bought 1209cr (cash), 501cr in Index Futures.
  • US shares plunge; Asian down marginally.
  • US Fed hikes key rates by 25bps; lowers 2019 rate hike projection to two. Read more.

Derivative Watch

Published on: 7:40 am

  • Nifty and Bank Nifty futures witnessed an addition of fresh long positions in the December series as open interest soared higher.
  • On the options front, Nifty faces resistance near at the 11,000-mark with the 11,000CE having an open interest build-up of 38lakh shares a surge past which could witness heavy short covering.
  • MRF and Indian Bank added fresh long positions.

Bulk deal

Published on: 7:37 am

  • Punj Lloyd: IFCI continued to offload shares of the company, selling 54,93,201 equity shares at Rs 4.37 per share on the NSE. However, Alpha Leon Enterprises LLP net bought 27,96,325 equity shares at Rs 4.25 per share.
  • DRS Dilip Roadlines: Aryaman Capital Markets Ltd purchased 2,00,000 shares of the company at Rs 75.5 per share, while Shah Babulal Vadilal HUF sold 1,12,000 shares at the same price on the NSE.

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Disclaimer : All estimates (1 year forward) are based on Consensus View provided by Refinitiv.