Latest news and updates

31st Dec, 2018

RBI's deadline for Kotak promoter stake dilution today

Published on: 3:58 pm

  • Shares of Kotak Bank ended ~1% higher on Monday with \the Reserve Bank of India’s (RBI) deadline to reduce promoter stake in the bank being today.
  • As per the central bank‘s guidelines for new banks, Kotak Mahindra Bank was required to bring down promoter holding to 20% by December 31, 2018. Besides, the RBI requires the shareholding to fall to 15% by 2020 to reduce the promoter’s control over the bank, media reports said. Read more

Sensex, Nifty end flat on the last day of 2018

Published on: 3:34 pm

  • Equity benchmark indices ended flat on the last trading session of 2018, with the Sensex slipped 8 points at 36,068. The Nifty50 ended slightly higher at 10,862. Axis Bank, HDFC and Maruti Suzuki dragged in today’s trade, while Infosys, Kotak Mahindra Bank and JSW Steel provided support.
  • On the sectoral front, PSU Bank, pharma, financial services stocks ended up in the range of 2-1%, respectively.
  • The midcap and small-cap shares outperformed their larger peers as the BSE MidCap Index rose 0.51% and the BSE SmallCap Index climbed 0.70%.

Marico slips on report Govt hikes MSP for Copra

Published on: 3:29 pm

  • Shares of Marico are trading lower by 1% on the BSE in the last hour of trading session amid media reports that the Cabinet has approved a hike in the minimum support price (MSP) for Copra by more than Rs2,000 per quintal for the 2019 season.
  • The stock is among the top losers on the BSE FMCG index.
  • The cabinet increased the MSP for copra, which accounts for 40-50% of Marico's material costs, by Rs2,000 per quintal for 2019. The MSP of Copra has been increased from Rs7,511 per quintal to Rs9,521, reports added. Read more

Midcap stocks gain; Concor, DHFL stocks lead

Published on: 3:20 pm

  • BSE Midcap stocks were trading higher in the afternoon session on Monday.
  • The index is up 0.59% at 15,450 in today’s trade led by Concor, Shriram Transport Finance, Divi’s Lab, Page Industries, and Colgate.
  • KIOCL was the top gainer in the index followed by Endurance, DHFL, AU Bank, and Alkem Labs which were also trading higher on the BSE. Read more

Live share market update: Markets consolidate after having opened gap up

Published on: 2:46 pm

  • Indian equity markets are witnessing consolidation after opening gap up on Monday.
  • Benchmark indices were trading marginally in the green with the Nifty up 19 points at 10,879, while Bank Nifty was up 63 points at 27,188 at 2.20PM.
  • Major Asian markets were shut today on account of New Year celebrations. Read more.

Nifty Metal index gains 2% on easing US-China trade war concerns

Published on: 2:30 pm

  • The Nifty Metal index gained 2% in afternoon trade on Monday after President Donald Trump expressed optimism for the Beijing trade deal. Shares of APL Apollo TubesJindal Stainless (Hisar)SAILJindal Steel & Power, and Hindustan Copper led the index’s gain.
  • Investors’ hopes regarding a truce in the trade war between the United States and China resurfaced after reports of a telephonic conversation between both the leaders. Read more.

Asian Granito drops 5% over arrest of founder

Published on: 2:15 pm

  • Shares of Asian Granito India dropped 5% on the BSE in today’s trade.
  • The company's Promoter and Managing Director Mukeshbhai Patel was arrested by the Directorate of Revenue Intelligence on December 28, for a case related to an amount of Rs3.5cr.
  • Patel had been granted bail on Saturday, i.e., December 29, 2018, as per a BSE filing. Read more.

Nifty Metal index gains 2% on easing US-China trade war concerns

Published on: 2:01 pm

  • The Nifty Metal index gained 2% in afternoon trade on Monday after President Donald Trump expressed optimism for the Beijing trade deal. Shares of APL Apollo Tubes, Jindal Stainless (Hisar), SAIL, Jindal Steel & Power, and Hindustan Copper led the index’s gain.
  • Investors’ hopes regarding a truce in the trade war between the United States and China resurfaced after reports of a telephonic conversation between both the leader. Read more. 

Bank of India gains 1% on receiving Rs10,086cr from government

Published on: 1:30 pm

  • Shares of Bank of India gained 1% in intraday trade on Monday after the government announced injecting money into the bank to the tune of Rs10,086cr.
  • The government had earlier announced an infusion of Rs65,000cr in PSBs in 2018-19, of which Rs23,000cr has already been disbursed, while Rs42,000cr is yet to be disbursed. Read more.
  • Bank of India is currently trading at Rs103.80 up by Rs0.85 or 0.83% from its previous closing of Rs102.95 on the BSE. Read more.

BSE Telecom index declines led by Infratel

Published on: 1:27 pm

The BSE Telecom index was trading lower by 0.49% at 991 levels, whereas Sensex was trading lower by 11 points at 36,059 and Nifty was trading marginally up 2 points at 10,862.
Bharti Infratel was the top loser in the index, as it was contributing majorly to the index's losses, followed by Bharti AirtelRCom, and HFCL, which were also trading lower on the BSE. Read more.

Steel Strips Wheels gets order from Volkswagen

Published on: 12:59 pm

  • Steel Strips Wheels Ltd (SSWL) has secured another prestigious export order from Volkswagen (VW) Mexico for supplies to their Pacheco, Argentina plant.
  • The company secured an order worth Rs46cr from Volkswagen Mexico for the supply of 3.5 lakh steel wheels which will be supplied from its Chennai plant. Read more.

Sensex, Nifty trade flat; Reliance Industries, HDFC stocks slip

Published on: 12:14 pm

  • Equity benchmark erased morning gains to trade flat during noon trade. The Nifty50 up 12 points, trading at 10,871, while the Sensex marginally 4 points up at 36,080.
  • Heavy selling pressure were witnessed in Reliance Industries, HDFC, Kotak Mahindra Bank and Axis Bank on the Sensex.
  • The market breadth is positive as 1,381 shares advanced, while 880 shares declined and 126 shares remained unchanged on the BSE.

Petrol price slumps to year's lowest

Published on: 12:12 pm

  • Petrol prices in Delhi on Sunday dropped to the lowest in 2018 at Rs68.84/liter, a drop of 22 paise, while diesel rates declined by 23 paise to a nine-month low level to Rs62.86/liter.
  • In Mumbai, petrol prices slipped by 22 paise to Rs74.67/liter, while Diesel prices dropped by 24 paise to Rs66.01/liter on Sunday. Read more. 

Dredging Corp rallies 17% on high volume

Published on: 11:35 am

  • Shares of Dredging Corporation of India rallied by 17% in today’s trade on the back of high volumes.
  • The company experienced a spurt in volumes by more than 11.73 times. Read more. 

KIOCL zooms 13% on stake sale plan

Published on: 11:30 am

  • Shares of KIOCL zoomed as much as 13% in intraday trade on Monday after the Govt decided to sell stake in the company via an FPO.
  • KIOCL Limited, formerly Kudremukh Iron Ore Company Limited, is a Government of India enterprise with its head office and administrative activities in Bangalore. It has a pelletization plant in Mangalore. Read more. 

Metal, Realty stocks gain in today’s session

Published on: 11:15 am

  • Metal and realty shares surged in today’s session as both the indices gained over 1% each.
  • Hindustan Copper was the top gainer on the metal index trading higher by over 3%. Read more. 

RCom, Jio extend pact’s validity date to June 28, 2019

Published on: 11:15 am

  • Reliance Communication (RCom) and Reliance Jio have extended the validity of the agreement signed on December 28, 2017, for the sale of towers, fibers, MCNs, and spectrum of RCom and its affiliates to June 28, 2019, the company said in a press note to the exchanges on Monday.
  • "The transactions are to be consummated subject to various approvals that are presently in progress," the company said in a press note to the exchanges on Monday. Read more. 

Cadila Healthcare gains 1% as USFDA grants approval for Acne Gel

Published on: 10:55 am

  • Shares of Cadila Healthcare were trading 1% higher on Monday as the company received approval from the USFDA to market Clindamycin Phosphate and Benzoyl Peroxide Gel.
  • The combination medication is used to treat a certain type of acne (inflammatory acne vulgaris), the company said in a press note to the exchanges on Saturday. Read more.

Reliance Industries acquires Kanoda energy systems

Published on: 10:50 am

  • Reliance Industrial Investments and Holdings Limited, a wholly-owned subsidiary of Reliance Industries, has entered into a binding agreement with Kanoda Energy Systems Private Limited ("KESL") for the acquisition of equity shares for a cash consideration not exceeding Rs75cr.
  • The said investment upon completion will translate into 88% equity stake in KESL on a fully diluted basis. The complete acquisition is likely to be completed by March 2020. Read more.

US-China trade war eases on Trump's expression of optimism

Published on: 10:29 am

  • Investors’ expectation regarding the truce in the trade war between the United States and China resurfaced after President Donald Trump expressed the optimism for Beijing trade deal.
  • The update came after a media report said that both the leaders had a conversation over telephone. After the conversation, Trump said in a tweet that negotiations were “moving along very well” towards a comprehensive deal, while Chinese state media said their president Xi Jinping believes that both sides wanted “stable progress.” Read more

Nifty hovers around 10,900 mark; Metal, Realty stocks outperform

Published on: 10:27 am

  • Benchmark indices trading on a positive note, with the Nifty50 up 39 points, trading at 10,889, while the Sensex gained 105 points at 36,183.
  • Nifty Metal was up 1.5% led by APL Apollo, Hindustan Copper, Hindalco Industries, SAIL, NALCO, JSW Steel, Tata Steel and Vedanta.
  • The market breadth is positive as 1,082 shares advanced, while 500 shares declined and 488 shares remained unchanged on the NSE.

L&T Construction wins’ orders worth Rs2,084cr

Published on: 10:13 am

  • The construction arm of L&T has won orders worth Rs2,084cr.
  • The Power Transmission and Distribution Business of L&T Construction has secured EPC orders worth Rs2,084cr, as per BSE filing. On the international front, the business has won a major order in the Kingdom of Saudi Arabia for the construction of 115kV Substations with associated transmission lines and cable circuits, the filing added.
  • Larsen & Toubro Ltd is currently trading at Rs1,446.30 up by Rs7.25 or 0.5% from its previous closing of Rs1,439.05 on the BSE. Read more

Rupee extends gain; opens higher at 69.80/$

Published on: 10:05 am

  • The Indian rupee extended gains for the second day and appreciated in the opening trade. The rupee was trading at 69.88 a dollar. The yields on the 10-year government bonds fell 0.19% to 7.37/$.
  • The dollar traded narrowly against its peers as risk sentiment remained fragile over heightened concerns of slowing global growth and a partial US government shutdown, as per media reports. Read more

Nifty reclaims 10,900 mark; Indiabulls HF, Tata Motors stocks gain

Published on: 9:53 am

  • Equity benchmark indices extended rally for the fourth consecutive session, with the Nifty above 10,900 mark.
  • The stock market opened higher on the last day of the year as global markets advanced following progress in US-China trade negotiations.
  • The Sensex was trading at 36,246, up 170 points, while the Nifty50 was ruling at 10,913, up 53 points. The market breadth is positive as 954 shares advanced, while 305 shares declined and 59 shares remained unchanged. Read more

Sensex opens above 36,000 mark; Indiabulls Housing up 2%

Published on: 9:22 am

  • Equity benchmark indices opened on a higher level on Monday.
  • Sensex is trading at 36,239 levels up by 162 points, while Nifty is trading at 10,913 levels up by 53 points.
  • The Indian Rupee is trading at 69.82 per dollar weaker by 6 paise from its opening rate.
  • All Nifty sectoral indices go green with Media and Metal Indices leading at ~1%.

JK Cements closes QIP; approves issue price of Rs695.80/share

Published on: 9:09 am

  • JK Cements in its filing to the exchanges informed that it has closed a qualified institutional placement offering (QIP) to raise funds from institutional investors for its capital expenditure. The closure declaration was made on Friday after market hours.
  • The company approved the issue price of Rs695.80 per share, which is at a discount of 5% to the floor price of Rs732.42 per equity share, it added. Read more

NLC India conducts boiler light up for first unit of Neyveli power project

Published on: 9:00 am

  • NLC India has achieved a critical milestone towards commissioning its 1,000 MW (2X500 MW) of Neyveli New Thermal Power Project (NNTPP) by successfully conducting the boiler light-up test for the First unit with secondary fuel on December 28, 2018 at Neyveli.
  • It can generate 10 lakh units of power in an hour. This power project will replace the existing more than five decades old TPS-I (600MW) at Neyveli. Read more.

Govt to infuse Rs10,086cr in Bank of India

Published on: 8:55 am

  • Bank of India (BOI) stock in focus today as the Central government of India has decided to infuse Rs10,086cr.
  • The bank informed the BSE in a regulatory filing on Saturday that the capital infusion in its equity will be done by way of preferential allotment. Read more. 

Jet Airways in talks with SBI for Rs1,500cr loan: Media reports

Published on: 8:46 am

  • Jet Airways, a debt-ridden airline company, is in discussion with State Bank of India (SBI) to raise Rs1,500cr short-term loan for its working capital requirement and some payment obligations, a PTI report said.
  • As per the report, Jet Airways’ strategic partner Etihad, which holds 24% stakes in the airline company, is likely to provide the guarantee for the loan. Read more. 

Aavas Financiers received fresh refinance assistance of Rs400cr

Published on: 8:30 am

  • Aavas Financiers in its filing to the exchanges informed that the company has received a fresh refinance assistance of Rs400cr from the National Housing Bank (NHB).
  • The announcement was made on Friday after market hours. Read more. 

Top stocks in focus: Kotak Mahindra Bank, Cipla, Fortis Healthcare, Bank of India

Published on: 8:25 am

  • As the RBI deadline ends on Monday for Kotak Mahindra Bank to reduce promoters' stake, clamour has increased for a review of the central bank's ownership guidelines for the country's private sector lenders.
  • Bank of India on Saturday said the government has decided to infuse Rs10,086cr in the bank as part of Rs28,615cr capital infusion to be done in about half a dozen public sector lenders. Read more. 

SGX Nifty indicating a positive opening in line with global peers

Published on: 8:21 am

  • SGX Nifty is at 10,965, up 45 points. For today, expect NAV propping on select mutual fund favorite stocks, as Nifty attempts to hit 11000. Mid caps could see better action as investors bet on earnings cycle upgrade in 2019.
  • Last week, Nifty saw another strong end on Friday after seeing US stocks rebound. The strength in the rupee coupled with falling yields all saw foreign investors return as buyers in November & December. Read more.

Bharat Financial Inclusion completes fifth direct assignment transaction of Rs849.36cr

Published on: 8:20 am

  • “Bharat Financial Inclusion Limited has assigned a pool of receivables of an aggregate value of Rs849.36cr to one of the largest private sector banks on a direct assignment basis as per the guidelines prescribed by the Reserve Bank of India” mentioned the company in a filing to the BSE.
  • The company also mentioned that this was the fifth direct assignment transaction in FY19. Read more. 

Current FII Data

Published on: 8:19 am

FII/DII Data:  In Friday’s trading session FIIs sold 119cr stock in the cash market, whereas DIIs bought 1199cr worth of stock. In the derivative market, FIIs bought 632cr of Index futures and bought 2595cr worth of Index options. In the Stock futures segment, FII’s bought 825cr worth of stock futures and bought 296cr stock options.

FII View: FIIs created bullish positions in the derivative segment in the first trading session of the Jan series which is deduced by the fact that they created 6249 long contracts in Index Futures while simultaneously creating 14262 long contracts in Index Call Options. The long-short ratio in Index Futures currently stands at 1.1x

 FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 154 4 4 1.1 1.1
Index Short 144 (1) (1)
Index Call Long 147 11 11 4.5 1.1
Index Call Short 32 (2) (2)
Index Put Long 253 13 13 3.8 1.0
Index Put Short 67 10 10

What not to miss today

Published on: 7:47 am

  • Markets to open higher; Nifty support @10817, resistance 11000.
  • Global indices react positively to trade talks between Trump and Xi.
  • FIIs sold 119cr (cash), bought 632cr in Index Futures.
  • Most Asian markets shut today, while Australian markets trade higher. Read more.

Bulk deal

Published on: 7:37 am

  • Sanghi Industries: Franklin Templeton Mutual Fund bought 51.82 lakh shares, or ~2.1% equity, at Rs59.5 a share.
  • Sanghi Industries: Max Life Insurance Co Ltd sold 20 lakh shares, or ~0.8% equity, at Rs59.5 a share.
  • Sanghi Industries: Nomura Trust and Banking Co sold 35.46 lakh shares, or ~1.4% equity, at Rs59.5 a share.

Derivative Watch

Published on: 7:33 am

  • Nifty & Bank Nifty future added heavy open interest consisting mainly of long positions.
  • On the Options front, across the board long positions were added in Bank Nifty OTM call strikes from 27,300CE to 27,700CE, indicating a position bias for the index.
  • Union Bank, Canara Bank, and Sail added long positions. 

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