Latest news and updates

26th Dec, 2018

Tractors demand grow at 10-12% in FY19, credit profile of players to stay healthy

Published on: 5:22 pm

  • The industry has maintained a healthy yoy growth of ~14.7% during April-October 2018 and for the full fiscal, FY19, the sector is expected to grow at 10-12%.
  • The Union Government continues its initiatives towards enhancing farmers’ incomes - in addition to schemes aimed at improving irrigation and insurance coverage, the MSP hikes for the current kharif season have been better than previous years.
  • The government’s thrust on rural spending, infrastructure creation and irrigation spending is also expected to provide support to rural incomes over the short to medium term. Read more.

Nifty settles near 10,750 mark; Adani Ports, Zee, Airtel stocks gain

Published on: 3:31 pm

  • Equity benchmark indices snapped three day’s losing streak on Wednesday and ended higher ahead of F&O expiry. Today’s rally led by HDFC twins, RIL, L&T, and Bharti Airtel.
  • The Sensex ended higher234 points at 35,704, while the Nifty gained 66 points or 0.62% at 10,730. The market breadth was negative as 742 shares advanced, while 949 shares declined, and 370 shares remained unchanged.
  • Airtel, Adani Ports, and Zee were the top gainers, while Sun Pharma and Yes Bank lost the most on the NSE.
  • Shares of SpiceJet jumped 4% on the BSE owing to fall in crude oil prices.

Heritage Foods gains on extended ban on Chinese diary products

Published on: 3:30 pm

  • Shares of Heritage Foods advanced ~1% in afternoon trade on Wednesday after the government extended the ban on milk and milk products from China till April 23rd 2019.
  • "Prohibition on import of milk, milk products (including chocolates, chocolate products, candies, confectionary food preparations with milk or milk solids as an ingredient) from China is extended for a further period of four months, i.e., till April 23, 2019, or until further orders," said the Directorate General of Foreign Trade in a notification. Read more. 

Bank Nifty outperforms led by HDFC Bank

Published on: 3:20 pm

  • Equity markets have gained momentum in the last hour of trading and are hovering around the day's high.
  • Bank Nifty climbed 243 points to trade at 26,958. Read more. 

Bajaj Auto to enter e-vehicles space by 2020

Published on: 3:03 pm

  • Bajaj Auto is looking to enter the electric vehicle space by 2020 with two and three wheeler products, said Rajiv Bajaj, Managing Director of the company.
  • Bajaj added that the company is aiming at 20-25% market share going forward from its current 15-20% share over the next 12 months.
  • When asked if the next few months look difficult because of the global environment, he answered that the scenario in fact looked interesting and exciting on back of some interesting trends that are emerging. Read here

Shanthi Gears approves share buyback at Rs140/share

Published on: 2:43 pm

  • Shares of Shanthi Gears slipped 2% on the BSE. The company said board of directors declared a one-time special (interim) dividend of Rs5/share for FY19.
  • Further, it has approved the buyback of fully paid up equity shares of Rs1 each not exceeding 5cr shares at a price of Rs140/share.
  • Shanthi Gears Ltd is currently trading at Rs131 down by Rs2.8 or 2.09% from its previous closing of Rs133.80 on the BSE. Read here

National Fertilizers signs loan agreement with SBI; stock up 2.5%

Published on: 2:37 pm

  • National Fertilizers Ltd has signed a loan agreement with SBI for an amount of Rs1.44cr. Reacting to the news, shares of the company climbed ~2.5%. 
  • “The company has achieved financial closure for its energy reduction schemes at Panipat, Nangal and Bathinda projects and other capex at various units with total project cost worth Rs1,160cr,” mentioned the company in a BSE filing on Monday evening, post market hours. Read here

Govt to assign 10 coal mines to Coal India in 2019: Media report

Published on: 2:33 pm

  • The Coal Ministry is mulling to assign 10 more coal mines to Coal India in 2019 to meet increasing demand, a PTI report said. Reacting to this, shares of Coal India were trading 0.5% higher.
  • As per the report, the government has already allotted 85 mines to mining companies. Of the total, 23 mines have already started production and the government is expected to assign 20 more mines to start output in FY19 or early in the next fiscal year. Read more

Nifty above 10,700 mark; L&T, ITC stocks gain

Published on: 2:25 pm

  • Equity benchmark indices erased morning losses during afternoon trade on Wednesday. HDFC twins, L&T, ITC, and ICICI Bank were the contributor on the Sensex.
  • The Sensex surged 183 points to trade at 35,653, while the Nifty gained 64 points at 10,727. 
  • Overall market breadth remained negative on the NSE as 978 shares were declining while 686 were advancing in today’s trade.

Vadilal Industries dips 5%

Published on: 2:24 pm

  • Shares of Vadilal Industries fell 5% on Wednesday after declining 14% in morning trade on the BSE. The stock has fallen for four straight sessions.
  • The company said that the audit committee and the board of directors have not been able to conclude on certain matters and, hence, limited review-related items on the agenda have been postponed. Read more

Live share market update: Markets rebound; Nifty trades near the high point of the day

Published on: 2:10 pm

  • Indian equity markets witnessed a sharp pullback from the low point of the day led by a recovery in frontline stocks.
  • The Nifty was trading 2 points higher at 10,666 recovering ~130 points from an intraday low of 10,534, while Bank Nifty was up 25 points at 26,786. Read more.

SpiceJet, Jet Airways gain 4% as Brent crude slides further

Published on: 2:04 pm

  • Shares of SpiceJet and Jet Airways gained 4% each in afternoon trade on Wednesday as the international benchmark for oil prices, Brent crude slumped below its key level of $50/barrel.
  • Crude oil occupies a major portion of operating expenses for airline firms. Hence, a fall in crude oil price is beneficial for the airline industry. Read more

Nifty Media Index gains led by Zee Entertainment

Published on: 1:50 pm

  • The Nifty Media Index gained 1% in the noon session Wednesday on heavy buying in Zee Entertainment Enterprises, Network 18, Den Network, and DB Corp. The media index is up 1% at 2,439 in an otherwise weak market.
  • Zee was leading the index’s gain by trading 3% up, followed by DB Corp, and Hathway which gained nearly 1%, respectively. Read more.

Markets rebound; Nifty trades near the high point of the day

Published on: 1:42 pm

  • Indian equity markets witnessed a sharp pullback from the low point of the day led by a recovery in frontline stocks.
  • The Nifty was trading 2 points higher at 10,666 recovering ~130 points from an intraday low of 10,534, while Bank Nifty was up 25 points at 26,786. Read more

Sensex, Nifty off day's low; Zee, UPL stock gains

Published on: 1:04 pm

  • Equity benchmark indices stock market showed slight recovery from the day's low during afternoon session. Index heavyweight ITC turned positive and HCL Tech, Asian Paints, and HeroMoto Corp continued to support the market.
  • The Sensex is down 243 points at 35,226, while the Nifty slipped 82 points to 10,596. The market breadth is negative as 446 shares advanced, while 1,211 shares declined, and 397 shares remained unchanged.
  • Shares of Jubilant FoodWorks extended their 10% fall over the past two trading days on concerns of rising employee expenses and higher base as well as more intense competition from food aggregators.

Autoline Industries signs MOU to consolidate manufacturing facility

Published on: 12:52 pm

  • Shares of Autoline Industries were up by ~2.5% on Wednesday morning, as the company announced signing an MOU with Poddar Pvt Ltd to to transfer its manufacturing facility from Mhalunge, Pune to its Chakan units situated at Pune.
  • For this purpose, the company has entered into an MOU with Poddar Habitat to transfer the said land and buildings. Read here

Alphageo receives order worth Rs14.45cr; share gains 2%

Published on: 12:40 pm

  • Shares of Alphageo are trading 2% higher on Wednesday after the company received an order worth Rs14.45cr from Oil and Natural Gas Corporation Limited (ONGC Ltd), Jorhat.
  • An order has been received for the provision of 2D seismic data acquisition services in South Geleki Area of Assam and Assam Arakan Basin, the company said in a press note to the exchanges on Wednesday. Read here

Mid & Smallcap stocks underperform; Jubilant FoodWorks slips 5%

Published on: 12:19 pm

  • Shares of mid and smallcap companies were under pressure with the BSE Midcap and Smallcap indices falling ~1% each in Wednesday’s trade.
  • The BSE MidCap index is down over 1% at 14,995 levels, with 3M India falling 5%. Bajaj Holdings, Federal Bank, Tata Chemicals, and Gruh Finance were among the major contributors to the index's fall. Read here

Career Point signs deal with edutech company Plancess Edusolutions

Published on: 12:03 pm

  • Career Point will have an exclusive license agreement to sell Plancess eLeaming products as per the deal.
  • Plancess Edusolutions, founded in year 2012 by IITians, provides advanced technology based eLearning courses and products for various competitive examinations including JEE, NEET & Pre- Foundation.
  • Career Point Ltd is currently trading at Rs79.70 up by Rs0.2 or 0.25% from its previous closing of Rs79.50 on the BSE. Read here

Nifty Metal Index slips 1% on weak global cues

Published on: 11:57 am

Lupin falls ~2% on brokerage downgrade

Published on: 11:15 am

  • Shares of Lupin Ltd fell by ~2% in early morning trade on Wednesday. Shares prices fell after brokerage house Philip Capital downgraded the stocks of the company, as per media reports.
  • The international brokerage house initiated a sell call on the stock with a target price of Rs670. The stock downgrade implies a potential downside of 20%. Read more.

OMCs gains as Brent crude slips below $50/bbl

Published on: 11:06 am

  • Oil Marketing Companies (OMCs) were trading in the green on Wednesday as Brent crude slumped below its key level of $50 per barrel.
  • Accordingly, shares of Hindustan Petroleum, Bharat Petroleum Corporation, and Indian Oil were trading higher by 1% each. Read more.

Nagarjuna Fertilizers jumps 13.5%; starts Kakinada urea production

Published on: 11:04 am

  • Shares of Nagarjuna Fertilizers jumped 13.5% on the BSE during morning trade. The company said it has restarted production of urea from Unit I of the Kakinada Plant, Andhra Pradesh on December 23, 2018.
  • The company is in the process of its long-term debt resolution with its lenders, as per BSE filing.
  • Nagarjuna Fertilizers & Chemicals Ltd is currently trading at Rs9.41 up by Rs1.12 or 13.51% from its previous closing of Rs8.29 on the BSE. Read more

Sensex slips over 400 points; Reliance Industries, Tata Motors under pressure

Published on: 10:22 am

  • Equity benchmark indices extended decline on Wednesday amid weak global clues ahead of F&O expiry on Thursday. Heavyweights Infosys, TCS and Hindustan Unilever contributed the most to the losses on the Sensex.
  • The Sensex is down 440 points at 35,030, while the Nifty slipped 121 points to 10,542. The market breadth is negative as 218 shares advanced, while 1,364 shares declined, and 467 shares remained unchanged.
  • Volatility index India VIX jumped 10.34% at 17.38.
  • The most active stocks were Yes Bank, Indiabulls HF, Jubilant Foodwork, RIL, and Infosys.

Maruti stock trades weak as it recalls 5,900 Super Carry vehicles

Published on: 10:12 am

  • India’s largest passenger vehicle (PV) manufacturer, Maruti Suzuki India Limited (MSIL) announced that it will undertake a voluntary recall of vehicles.
  • A total of 5,900 Super Carry vehicles in the domestic market will be recalled to inspect for a possible defect in fuel filter. Read more. 

Hindustan Unilever stock drops on report of anti-profiteering penalty

Published on: 10:10 am

  • Shares of Hindustan Unilever dropped ~1.8% on the BSE in morning trade.
  • The GST Anti-Profiteering Body ruled that Hindustan Unilever (HUL) profiteered to the extent of Rs535cr against the company’s claim of Rs160cr, as per media reports. Read more. 

Rupee gains 22 paise against US Dollar as crude oil sinks

Published on: 10:05 am

  • The Indian rupee opened higher on Wednesday amid weak crude oil prices and the dollar’s losses in global markets due to political uncertainty in the US.
  • The rupee was trading at 69.91/$, up 22 paise. Read more. 

PFC transfers wholly-owned subsidiary to Adani Transmission

Published on: 9:32 am

  • PFC Consulting Limited, a wholly owned subsidiary of Power Finance Corporation Limited, has transferred Obra C Badaun Transmission Limited to Adani Transmission Limited. Adani Transmission Limited was the successful bidder for PFC Consulting Limited.
  • “The transmission facility was established for development of transmission system for evaluation of power from Obra C (2*660 MW) thermal project and construction of 400kV GIS substation with associated transmission lines.” Read more. 

Nifty slips below 10,600 mark; HUL, Sun Pharma stocks slip

Published on: 9:19 am

  • Equity benchmark indices opened lower on Wednesday as global stock markets remained under selling pressure over political uncertainty in the US and worries of global economic slowdown.
  • Index heavyweight Hindustan Unilever slipped over 2%, while Hindalco, Sun Pharma, Gail, Infosys slipped by up to 1%.
  • The Nifty opened just above 10,600, however, it slipped below 10,600 mark dipping more than 74 points, while the Sensex plunged 277 points at 35,193.

Asian stock markets trade lower; Nikkei 225 up ~1%

Published on: 9:15 am

  • Asian stock markets were trading lower on Wednesday amid worries about political uncertainty in the US following a partial government shutdown that now looks set to extend into the New Year, and on mounting concerns about global economic growth.
  • The Japanese stock market is trading higher, rebounding from sharp losses in the previous session on Christmas Day. Asian markets, US and European markets were shut for the Christmas Day holiday on Tuesday. Read more. 

Chemfab Alkalis commissions PVC-O project at its AP facility

Published on: 9:00 am

  • Chemfab Alkalis Limited has started the PVC-0 project at their manufacturing facility in Sri city, Tada, Andhra Pradesh.
  • It was commissioned successfully on Saturday, Dec 22, 2018 for the manufacturing and selling of PVC-O pipes & fittings. Read more. 

Reliance Industries acquires Radisys Corporation for USD75mn

Published on: 8:59 am

  • Reliance Industries has completed acquisition of 100% stake of RSYS through a special purpose vehicle (SPV) set up in US for cash consideration aggregating to ~USD 75 million equity value.
  • Radisys is a leader in providing open telecom solutions to service providers worldwide. Read more. 

JK Cement to raise fund via QIP; floor price set at Rs732 per share

Published on: 8:45 am

  • Subsequent to its board meeting approval in June, 2018, JK Cement has launched a Qualified Institutional Placement (QIP) offering on December 24, 2018, to raise capital for expansion.
  • The company has fixed the floor price at Rs732.42 per share. Read more. 

Share Market Update: 8 Stocks in which traders have formed bearish positions

Published on: 8:30 am

  • Indian equities are expected to open lower amidst negative global cues.
  • Tracking the global cues all the Asian indices along the US indices have witnessed a downward momentum since the start of this week, hinting a follow-up action by the Indian equities getting into today's trade. Read more. 

Current FII Data

Published on: 8:06 am

FII/DII Data:  In Monday’s trading session, FIIs sold 577cr stock in the cash market, whereas DIIs bought 186cr worth of stock. In the derivative market, FIIs bought 205cr of Index futures and bought 1688cr worth of Index options. In the Stock futures segment, FIIs sold 645cr worth of stock futures and sold 185cr stock options.

FII View: FIIs reduced their positions in Index Futures in Monday’s trading session, which is deduced by the fact that they closed out 6374 short contracts in the segment. However, they created 23217 long contracts in Index Put Options. The long-short ratio in Index Futures currently stands at 0.8x since the start of the December series which is a bearish sign.

 FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 188 (1) 34 0.9 0.8
Index Short 209 (3) 58
Index Call Long 244 (1) 27 2.6 0.9
Index Call Short 95 (6) 49
Index Put Long 416 6 65 2.7 1.1
Index Put Short 157 2 56

Markets to open negative tracking SGX Nifty

Published on: 8:05 am

  • SGX Nifty is at 10618 level. For today, we expect higher volatility as we have expiry tomorrow.
  • We should see a weaker start with the second half likely to witnessing a value buying and short covering. Read more.

Derivative Watch

Published on: 8:03 am

  • Nifty January contract added 120% in fresh open interest with a sharp decline in the underlying price, indicating a build-up of short positions. 
  • On the Options front, short covering was witnessed in the Nifty ITM put option strikes with 10,800PE and 10,900PE witnessing a reduction ~9.9lakh shares and ~4lakh shares, respectively.
  • Hero MotoCorp Ltd added fresh short positions.

What not to miss today

Published on: 7:45 am

  • Markets to open flat; Nifty support @ 10600, resistance 10820.
  • FIIs sold 57cr (cash), bought 205cr in Index Futures.
  • US markets tank on govt’s shutdown, Trump’s talks of firing US Fed chairman.
  • Asian markets trade mixed with Nikkei trying to rebound post US rout.
  •  Brent crude hits $50/bbl-mark. Read more.

Top stocks in focus: Tata Motors, Hindustan Unilever, Vedanta, JK Cements

Published on: 7:40 am

  • Tata Motors has no plans to sell stake in Jaguar Land Rover, as per Bloomberg report.
  • The GST Anti-Profiteering Body ruled that Hindustan Unilever (HUL) profiteered to the extent of Rs535cr against the company’s claim of Rs160cr, a PTI report said.
  • JK Cements to raise funds via QIP; Floor price set at Rs732.42 per share. Read more. 

Broker Radar for December 26

Published on: 7:35 am

Macquarie Maintained ‘Outperform’ On ITC, raised TP to Rs376 from Rs367
  • ITC is winning back market share in cigarettes, leading to volume recovery.
  • Expect earnings recovery to continue with strong volume recovery.
  • Margin expansion in FMCG will lead to valuation re-rating. Read more. 

Bulk deal

Published on: 7:30 am

  • Den Networks: Rajasthan Global Securities Pvt Ltd bought 14.80 lakh shares of the company at Rs69.06 per share and Trilok Chand Goyal 10lakh shares at Rs69.13 per share on the NSE.
  • Next Mediaworks: Ratnabali Capital Markets Private Limited purchased 4.85 lakh shares of the company at Rs24.97 per share on the NSE.
  • Punj Lloyd: IFCI sold 19.62lakh shares of the company at Rs3.92 per share on the NSE.

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