Latest news and updates

27th Dec, 2018

Indices end higher for second straight day

Published on: 3:32 pm

  • Equity benchmarks ended higher for second straight day, with the Nifty ended December series below 10,800.
  • On the sectoral front, banks, automobiles, metals and pharmaceuticals were ended in red.
  • The Sensex rose 157 points at 35,807, while the Nifty ended higher by 50 points at 10,780. The market breadth was narrow as 1,313 shares advanced, while 1,233 shares declined, and 181 shares remained unchanged.
  • Adani Ports, Reliance Industries, Tech Mahindra and ONGC gained on the NSE, while Airtel, Hero MotoCorp, and Tata Motors lost the most.

Bliss GVS Pharma stock gains 2% after block deal

Published on: 2:02 pm

  • Shares of Bliss GVS Pharma gained 2% on the BSE in afternoon trade after the company witnessed single block deals. ~10 lakh shares changed hands in a block deal on the NSE.
  • The stock is currently trading at Rs141.05 up by Rs2.95 or 2.14% from its previous closing of Rs138.10 on the BSE. Read more. 

Selan Exploration gains 10% as board approves buyback proposal

Published on: 2:02 pm

  • Shares of Selan Exploration gained 10% in Thursday’s afternoon session after its board approved the buyback of shares and an interim dividend of Rs5 per share.
  • Accordingly, the company will buy back the maximum of 8.66% of capital at Rs300 per share for total consideration of Rs25cr, the company said in a press note to the exchanges. Read more. 

Live share market update: Markets trade with a positive bias, volatility set to persist

Published on: 1:50 pm

  • Indian equity markets are witnessing a sideways consolidation after opening gap up on Thursday.
  • The Nifty was trading 54 points higher at 10,783, while Bank Nifty relatively underperformed trading 29 points higher 27,015.
  • The volatility in the market is expected to pick up in the second half of the session as we approach the end of the Dec expiry. Read more.

Cimmco drops ~6% after announcing stake sale

Published on: 1:50 pm

  • Shares of Cimmco Ltd were down in intraday trade on Thursday after the company announced a stake sale. The company's stock price went down ~6% after announcing an OFS of 15.4 lakh shares through the stock exchange mechanism.
  • “Titagarh Wagons Limited, a part of the promoter group of Cimmco Limited has proposed to sell 15.4 lakh shares of face value of Rs10,  on December 27th, 2018 and December 28th, 2018 through a sale on a separate window provided by BSE. Each share represents 5.64% of the share capital of the company,” mentioned the company in a BSE filing on Thursday morning. Read more

Nifty around 10,800-mark; Sensex up 200 points

Published on: 1:22 pm

  • Equity benchmark indices were trading in the green on Thursday with Nifty trading 60 points up at 10,789 levels. The Sensex also gained 197 points to 35,846 levels.
  • All sectoral indices were trading in the green on the NSE except Nifty Pharma, Auto, and Realty. Among shares, Infosys, Gail, Reliance, Tech Mahindra, and HCL Tech led the gain. Conversely, Bharti Airtel, Baja Auto, Coal India, L&T, and Dr. Reddy lost the most.
  • Moreover, market breadth was positive on the NSE with 1,085 shares advancing against 582 declining, while 393 shares remaining unchanged.

Banking, financial stocks rally

Published on: 12:45 pm

  • Shares of banking and financial stocks rose in Thursday’s trade. The gain in the Nifty PSU Bank index was led by Central Bank, Vijaya Bank, Bank of India, and Canara Bank.
  • The banking index rallied after a media report said that the Finance Ministry is likely to announce a ~Rs28,615cr fund infusion in seven public sector banks (PSBs) on Thursday. Read more.

Dr.Reddy's launches Sevelamer Carbonate in US

Published on: 12:42 pm

  • Dr.Reddy’s Laboratories, in a filing to the exchanges on Thursday, informed that the company has launched Sevelamer Carbonate oral suspension in the US market.
  • "Dr.Reddy's Sevelamer Carbonate oral suspension is available in 0.8g and 2.4g packets in a count size of 90," the company added in a press note. Read more.

Man Industries falls 1% as Sebi slaps fine on promoters: Media report

Published on: 12:00 pm

  • Shares of Man Industries were trading ~1% down in Thursday’s morning trade after a PTI report said that the Securities and Exchange Board of India (Sebi) imposed a penalty of Rs10cr on three promoters of the company.
  • As per the report, the company’s promoters were penalized as they failed to make an open offer to its shareholders. The three promoters are JPA Holdings Pvt Ltd, Nikhil Mansukhani, and Anita Mansukhani. Read more.

Sensex gains 300 points; RIL, Infosys stocks lead

Published on: 11:23 am

  • Equity benchmark indices extended gain during morning trade led by IT stocks, metal, and realty stocks.
  • The Sensex jumped 357 points to 36,007 and the Nifty50 Index rose 96 points to 10,826. The market breadth was positive as 1,139 shares advanced, while 447 shares declined, and 471 shares remained unchanged.
  • The most active stocks were TCS, Indiabulls HF, Reliance Industries, Infosys, Yes Bank, and RCom.
  • The Nifty IT index rose 2% in morning trade as the Indian rupee declined. Infosys, Tata Elxsi, TCS, and Tech Mahindra gained over 2%, followed by NIIT Tech, HCL Tech, and Infibeam gained in the range of 1.5%-1% each.

Suven Life Sciences secures product patents in Brazil and Eurasia

Published on: 10:59 am

  • Suven Life Sciences Ltd said today that it has been granted a product patent from Brazil and Eurasia each for a new chemical entity used in treatment of disorders associated with Neurodegenerative diseases.
  • These product patents are valid through 2023 and 2034 respectively. Read more. 

Brent extends gains as supply glut concerns ease

Published on: 10:50 am

  • After witnessing a sharp gain of ~9% on Wednesday international benchmark for oil, Brent and West Texas Intermediate (WTI) took advanced further in Thursday's morning trade to $54.56/bbl.
  • Crude oil posted its biggest single-day gain in over two years on Wednesday after Russian Energy Minister Alexander Novak’s statement to reassure investors that the market will be more stable in the first half of 2019 due to the deal between the Organization of the Petroleum Exporting Countries (OPEC) and its allies to cut output by 1.2mn barrels per day from January 2019 onwards. Read more. 

L&T Construction wins contracts worth Rs2,357cr

Published on: 10:42 am

  • Shares of Larsen and Tourbo Ltd were trading flat on Thursday afternoon even as the company announced contract wins worth Rs2,357cr.
  • The water and effluent treatment and transportation infrastructure businesses of Larsen and Tourbo Ltd have secured a build and design order worth Rs1,281cr. Read more.

Nifty IT stocks gain led by Infosys, Tech Mahindra

Published on: 10:40 am

  • The Nifty IT index rose 2% in morning trade as the Indian rupee declined. Infosys, Tata Elxsi, TCS, and Tech Mahindra gained over 2%, followed by NIIT Tech, HCL Tech, and Infibeam gained in the range of 1.5%-1% each.
  • The Indian rupee slipped 13 paise against the US Dollar on Thursday. Read more. 

Rupee opens 13 paise lower against US Dollar

Published on: 10:30 am

  • The Indian rupee slipped 13 paise against US Dollar on Thursday. The decline was led by a rise in dollar and overnight surge in the crude oil prices.
  • Crude oil spurted ~8% on Wednesday, posting its biggest single-day gain in over the two years. The gain was after Russian Energy Minister Alexander Novak’s statement. Read more.

Aviation stocks fall as Brent spurts 8%

Published on: 10:30 am

  • Shares of aviation companies were trading in the red on Thursday as Brent crude spurted 8%. Accordingly, shares of SpiceJet, Jet Airways, and InterGlobe Aviation slid1% each.
  • Crude oil occupies a major portion of operating expenses for airline firms. Hence, the gain in crude prices is negative for the airline industry. Read more.

Nifty reclaims 10,800 mark ahead of F&O expiry

Published on: 9:34 am

  • Equity benchmark indices opened higher tracking positive global cues, after Asian markets rallied following major gains seen on Wall Street yesterday.
  • Today’s rally is being led by Reliance Industries, HDFC Bank, and ICICI Bank ahead of the expiry of December futures and option contracts later in the day. Read more. 

Nifty opens above 10,800 mark; All sectoral indices gain

Published on: 9:21 am

  • Equity benchmark indices opened on a higher level on Thursday.
  • Sensex is trading at 36,003 levels up by 352 points, while Nifty is trading at 10,817 levels up by 88 points.
  • The Indian rupee is trading at 70.28 per dollar.
  • All Nifty sectoral indices go green with PSU Bank & Metal indices leading at ~1%.

Carlyle-GIC consortium likely to buy 10% stake in SBI Life for Rs5200cr

Published on: 9:14 am

  • US private equity firm Carlyle and Singapore’s sovereign wealth fund GIC, in a consortium, are the frontrunners to buy 10% strategic stake in SBI Life Insurance, according to Economic Times. BNP Paribas Cardif is mulling to cut its stake in SBI Life to meet regulation for minimum public shareholding.
  • Carlyle and GIC are likely to buy shares at Rs510-520 collectively, which is at a 9.2% discount to SBI Life’s stock closing price of Rs572.55, on December 27, 2018, according to the media reports. Read more.

Ladderup Finance up 3% on acquiring Godland Resorts

Published on: 9:10 am

  • Ladderup Finance has acquired by way of allotment of 75,001 fully paid up equity shares of face value Rs10/- each of Godland Resorts Private Limited for a total consideration of Rs2.73cr, which represents ~ 50% of total equity share capital of the target company as on date.
  • Accordingly, Godland Resorts has become subsidiary of the company as on date. Read more. 

Asian stock markets gain after US rebounds

Published on: 9:04 am

  • Asian stock market rose on Thursday following an overnight gain in stocks on Wall Street. Japan's Nikkei 225 surged 3.7%, while the Topix jumped 4.4% as the two indexes climbed after their Christmas Day tumble.
  • The mainland Chinese markets, which have been closely watched as a result of Beijing's trade spat with Washington, saw gains in early trade. Read more. 

Titagarh Wagons launches India's first coastal research vessel

Published on: 8:54 am

  • In February 2017, Titagarh Wagons had signed a contract with National Institute of Ocean Technology under the Ministry of Earth Sciences, Government of India,  for design, construction and delivery of two high end coastal research vessels valued at Rs100cr.
  • Titagarh Wagons Limited (TWL), a flagship company of the Titagarh Group, on December 25, launched SAGAR TARA, the first of the coastal research vessels built for National Institute of Ocean Technology, Ministry of Earth Sciences, Govt. of India. Read more. 

Vedanta to pump in ~$4bn in Electrosteel Steels: Media reports

Published on: 8:26 am

  • Vedanta is planning to invest ~$4bn into newly acquired Electrosteel Steels to scale up its capacity, media reports said.
  • As per reports, the company will expand its capacity from 1.5mn tonnes per annum to 7mn tonnes per year. Read more. 

Sun Pharma unit gets preliminary injunctive relief in US Court

Published on: 8:12 am

  • DUSA Pharmaceuticals, Inc., a wholly owned subsidiary of Sun Pharmaceutical Industries announced that it has been granted preliminary injunctive relief by a federal district court prohibiting defendants Biofrontera Inc., Biofrontera Bioscience GmbH, Biofrontera Pharma GmbH, and Biofrontera AG (together known as “Biofrontera”) from using DUSA’s confidential and proprietary trade secret information.
  • The announcement made after market hours on Wednesday. Read here

Top stocks in focus: Sun Pharma, Titagarh Wagons, HUL, Rites

Published on: 8:09 am

  • Sun Pharma arm ‘Dusa Pharmaceuticals’ got awarded Preliminary Injunctive Relief by US federal district court prohibiting defendants Biofrontera from using Dusa’s proprietary trade secret information.
  • Cimmco’s promoter Titagarh Wagons to sell 15.4 lakh shares (5.64% equity) today and tomorrow through an offer for sale route. The floor price for OFS set at Rs38 per share, a discount of 11% to the last regular trade.
  • Hindustan Unilever clarified on the news of GST Authority finding guilty of profiteering Rs383cr stating that no methodology has been determined by National Anti-Profiteering Authority as required under the law to determine if benefit has been passed or not. Read more

Broker Radar for December 27

Published on: 8:06 am

Philip Capital maintains ‘Buy’ on Concor with TP of Rs900
  • With revised rates, Haulage cost for empty container would decline to Rs7.50/km
  • 10-12% volume growth and Reduction in empty charges will help company maintain margin
  • Leveraging its strong asset base to benefit from Multimodal movement
  • Expect Revenue and Earnings CAGR of 19% and 14% over FY18-20
Edelweiss initiates coverage on Aavas Financiers; Target at Rs1014/share
  • Offers early stage opportunity to play low cost housing finance
  • Co well invested to be bigger, better and stronger
  • In right place with a few bridges to cross

Markets set to witness volatile trading session ahead of Dec expiry

Published on: 7:50 am

  • SGX Nifty is at 10800 levels, up 40 points. For today, we expect further short covering in early trade as volatility rises on the upside with derivative contracts expiring today.
  • On Wednesday, the Nifty saw a sharp intraday recovery with the index reversing from 10,534 to hit 10,747, which was over 200 points gain from the lows of the day. This was led by short covering and value buying with media, banks, and financial services being the leaders. Read here

FII and DII Data

Published on: 7:47 am

FII/DII Data: In yesterday’s trading session FII’s bought 80 crores stock in the cash market whereas DII’s sold 137 crores worth of stock. In the derivative market, FII’s sold 754 crores of Index futures and sold 84 crores worth of Index options. In the Stock futures segment, FII’s sold 272 crores worth of stock futures and sold 8 crores stock options.

FII View: FIIs created bearish positions in the Index Futures segment in yesterday’s trading session which is deduced by the fact that they created 8371 net short contracts in the segment while simultaneously creating 3419 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 207 10 48 0.9 0.8
Index Short 237 13 79
Index Call Long 236 (4) 22 2.5 0.8
Index Call Short 94 (1) 47
Index Put Long 420 1 67 2.7 1.1
Index Put Short 155 (1) 54
 

What not to miss today

Published on: 7:45 am

  • Markets set to witness a volatile trading session ahead of December expiry.
  • Nifty support @10630, resistance 10900.
  • Dow Jones records 1086-point rally, largest single day point gain in history. Asian shares up. Read more.

Derivative Watch

Published on: 7:42 am

  • Nifty staged a smart recovery, reversing its opening loses to close ~0.7% higher.
  • Tracking the Expiry-1 day rollovers, Nifty's E-1 rollovers stood at 52.62% vs. 48.5% during the previous series with an increase in rollover cost to the tune of 0.04%, indicating a rollover of long positions.
  • On the options front, in-the-money and out-the-money call options have seen sharp short covering and put options have added fresh writing positions.
  • Bank Nifty 26300CE and 26400CE added huge long positions with open interest doubled and the option premium surged  ~53% and 60%, respectively during the day.
  • Bajaj Finserv and Jet Airways added fresh long positions.

Bulk deal

Published on: 7:39 am

  • Akash Infra-Projects: Silkon Trades LLP purchased 80,000 shares of the company at Rs100 per share on the NSE.
  • Cupid: Tamohara Investment Managers Private Ltd sold 71,540 shares of the company at Rs148.95 per share on the NSE.
  • Golden Tobacco: SMS Holdings Pvt Ltd sold 1.14lakh shares of the company at Rs35 per share on the NSE.
  • OnMobile Global: Vertex Customer Management India sold 9.29lakh shares of the company at Rs 34.6 per share on the NSE.
  • Rolta India: Central Bank of India (Capital Market Service Branch) sold 9.70 lakh shares of the company at Rs8.88 per share on the NSE.

US markets rally on Wednesday; Dow jumps over 1,000 points

Published on: 7:35 am

  • US stock market snapped four-day losing streak and ended higher on Wednesday. The stock market apparently got a lift after Kevin Hassett, chairman of the White House Council of Economic Advisers, said in an interview with The Wall Street Journal that the Fed chairman is in no danger of being fired.
  • The Dow Jones Industrial Average shot up more than 1,000 points, its biggest single-day point gain ever, rising nearly 5% as investors returned from a one-day Christmas break.
  • The broader S&P 500 index also climbed 5%, and the technology-heavy Nasdaq jumped 5.8%. Read more

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