Latest news and updates

01st Jan, 2019

Nifty reclaim 10,900 led by HDFC twins, ICICI Bank

Published on: 3:33 pm

  • Equity benchmark indices ended higher after a volatile session in the afternoon deal. The Nifty reclaimed 10,900 mark, up by 48 points, while the Sensex rose 186 points at 36,255.
  • The rally was led by HDFC twins, ICICI Bank, Infosys, and SBI. The market breadth was positive as 994 shares advanced, while 685 shares declined and, 383 shares remained unchanged.
  • Mahindra and Mahindra stock slipped 4% after the company reported total volume growth of 1% yoy (down 12% mom) in December 2018.

M&M stock down by more than 3% as tractor volumes slump 6% in December

Published on: 2:55 pm

  • Mahindra & Mahindra Limited’s (M&M) Farm Equipment Sector (FES) sold 17,404 tractors in December 2018, down 6% yoy (down 33% mom).
  • The total volume sold missed the BloombergQuint poll estimate of 20,100 tractors. Read more. 

Sensex, Nifty erase losses; HDFC twins, Infosys stocks gain

Published on: 2:46 pm

  • Equity benchmark erased morning losses in the afternoon session. The Nifty is slightly up 5 points at 10,868 mark.
  • The Sensex rose 52 points at 36,120 led by HDFC twins, Axis Bank, Infosys, and ICICI Bank.
  • The market breadth is positive as 935 shares advanced, while 710 shares declined and 415 shares remained unchanged.

CMI gains 3% on order wins worth Rs106.64cr

Published on: 2:36 pm

  • Shares of CMI were trading 3% higher on Tuesday after the company emerged as the L-1 bidder for a project worth Rs106.64cr.
  • An order has been secured for the supply of Cadmium Catenary Wire to East Coast Indian Railway, the company said in a press note to the exchanges on Tuesday. Read more.

Escorts reports 28% yoy growth in tractor sales in December; stock up 1%

Published on: 2:30 pm

  • Escorts Limited (Escorts), one of India’s leading agricultural equipment manufacturers, reported strong volume numbers in December 2018. It sold 4,598 tractors in December 2018.
  • Total volumes for the month were higher 28% yoy and lower 43% mom.
  • The company sold 4,212 tractors in the domestic market in December 2018, up 21% yoy and down 45% mom.
  • Export volume was 386, up 197% yoy and 6% mom. For the quarter (Q3FY19), the company sold 25,743 tractors, up 36% yoy and 22% qoq. Read more.

SML Isuzu December volume down 16%, stock down 1%

Published on: 2:28 pm

  • SML Isuzu Limited (SMLI) reported 16% yoy decline (19% mom growth) in December 2018.
  • The company sold 817 vehicles in December 2018 against 974 vehicles in December 2017 and 688 vehicles in November 2018. Read more. 

Nifty holds 10,800 mark; M&M slips 3%

Published on: 1:56 pm

  • Benchmark indices continues to trade in the negative zone on Tuesday afternoon with the Nifty trading below 10,811, down by 51 points. The Sensex slipped by 156 points to 35,912 led by HDFC twins, HUL, M&M, and Reliance Industries.
  • Volatility index India VIX rose 0.64% to 16.10.
  • The most active stocks were Axis Bank, IndusInd Bank, Maruti, and Yes Bank.

Nifty Realty index gains 2% led by Prestige Estates, Oberoi Realty, Godrej

Published on: 1:55 pm

Sensex down over 100 points; Metal, FMCG stocks slip

Published on: 1:50 pm

  • Benchmark indices continue to trade in the negative zone on Tuesday afternoon with the Nifty trading below 10,850. The Sensex slipped by 117 points to 35,951 led by HDFC twins, HUL, M&M, and Reliance Industries.
  • On the sectoral front, the Nifty media index fell ~1% led by Hindalco, NMDC, Tata Steel, and NALCO.
  • The Nifty FMCG index was down 0.69% at 211 points. Colgate, Dabur, HUL, and GSK Consumer were down in the range of 2-1% respectively. Read more.

Liquor stocks decline; Pioneer Distilleries drops 2%

Published on: 1:10 pm

  • Liquor stocks declined during the afternoon session on Tuesday as a media report stated that the Maharashtra government has raised the excise duty on Indian-made foreign liquor (IMFL) by 20% from today.
  • The hike, which ranges from 4% to 25% on the MRP depending on the type of alcohol, is expected to bring in additional revenue of around Rs500-600cr annually, the report said. Read more. 

Dredging Corp extends gain; stock jumps 8.5%

Published on: 12:12 pm

  • Shares of Dredging Corporation of India extended its gain for fifth consecutive session and jumped by 8.5% in today’s trade on the back of high volumes.
  • The company experienced a spurt in volumes by more than 5.17 times. Read more. 

Shilpa Medicare gets USFDA approval for Irinotecan HCL Injection; Stock gains 3%

Published on: 11:59 am

  • Shilpa Medicare gained in today's trade as the company received a USFDA approval for its ANDA Irinotecan HCL Injection USP, 40 mg/2mL and 100 mg/5mL (20mg/mL) Single Dose Vials.
  • According to IQVIA MAT Q2 2018 data, the US market for Irinotecan HCL is ~$18mn. Read more. 

CreditAccess Grameen Limited completes transaction worth Rs388.23cr

Published on: 11:30 am

  • Credit Access Grameen Limited has completed a direct assignment of Rs277.73cr and securitization transaction of Rs110.50cr on December 31, 2018.
  • The company announced the news in an exchange filing on Monday evening post market hours. Read more. 

Nifty trades below 10,850 mark; Axis Bank, Sun Pharma stocks gain

Published on: 11:26 am

  • Equity benchmark indices were trading lower on Tuesday, with the Sensex is down 67 points at 36,001. The Nifty50 fell 23 points at 10,840. Today’s decline was led by HDFC twins, Infosys, IndusInd Bank, and ITC.
  • Shares of airline companies rose 1% after the government cut jet fuel price by an average of 14.4% across India.
  • The market breadth is narrow as 874 shares advanced, while 709 shares declined and 470 shares remained unchanged.

Bank of Maharashtra gains 4% as govt infuses Rs4,498cr capital

Published on: 11:23 am

  • Shares of Bank of Maharashtra gained 4% after the bank received an equity capital of Rs4,498cr on December 31 from the government.
  • "The infused amount will be kept in the share application money account till all allotment formalities are completed," the bank said in a statement after market hours to the exchanges on Monday. Read more. 

Maruti Suzuki volume down 1% in Dec 2018; misses expectation

Published on: 11:00 am

  • India’s largest passenger vehicle manufacturer Maruti Suzuki (India) Limited (MSIL) reported lower than expected volumes in December 2018.
  • The total volume (domestic + exports) came in at 1,28,338; down 1% yoy and 16% mom. Read more. 

Centrum Capital acquires L&T Finance's supply chain business

Published on: 9:53 am

  • Centrum Capital has acquired the supply chain finance business of L& T Finance Ltd.
  • The company made the announcement on Monday evening post market hours. Read more. 

Atul Auto ends the year with a bang; December volume up 50% yoy

Published on: 9:50 am

  • Leading three-wheeler (3W) company Atul Auto Limited (AAL) reported blockbuster set of volumes for December 2018.
  • It sold 4,332 vehicles in December 2018; up 50% yoy and 8% mom. Read more. 

Government cut subsidized LPG rates by Rs5.91

Published on: 9:37 am

  • The government has announced a reduction in both subsidized and non-subsidized LPG rates by Rs5.91 and Rs120.50, respectively.
  • This is the second straight reduction in December month. Read more. 

Indices erase opening gains; Indiabulls HF, Power Grid stocks slip

Published on: 9:16 am

  • Equity benchmark indices opened on a tepid note, with the Nifty trading below 10,900.
  • The Indian rupee opened higher by 0.19% to 69.63 against the greenback.
  • The Sensex is down 44 points at 36,024, and the Nifty slipped 27 points at 10,835. The market breadth is negative as 638 shares advanced, while 790 shares declined and 594 shares remained unchanged.

23 goods and services to be cheaper from today

Published on: 9:15 am

  • 23 goods and services including movie tickets, TVs, monitor screens, power banks, frozen fruits and vegetables, pilgrimage air travel, will be cheaper starting today with the GST Council having slashed rates on these items in the meet held last month.
  • The centre on December 22 and 23, 2018, decided to levy 18% tax on several items removing them from the 28% slab. Read more. 

Core sector growth slows down to 16-month low at 3.5% in Nov

Published on: 8:50 am

  • The eight core industries growth eased to a 16-month low in November at 3.5% compared to that over the same period a year ago.
  • The fall is due to declining oil and fertilizer production, government data showed. Read more. 

Current FII Data

Published on: 8:37 am

FII/DII Data:  In yesterday’s trading session, FIIs sold 326cr stock in the cash market whereas DIIs bought 321cr worth of stock. In the derivative market, FIIs bought 549cr of Index futures and bought 1693cr worth of Index options. In the Stock futures segment, FIIs sold 9cr worth of stock futures and bought 84cr 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 11,174 long contracts in the segment. However, considering the volatility in the markets they also purchased 21,121 long contracts in Index Put options to hedge their positions. 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 165 7 12 1.1 1.1
Index Short 148 3 2
Index Call Long 153 4 15 4.5 1.1
Index Call Short 34 6 4
Index Put Long 274 8 22 4.0 1.1
Index Put Short 69 2 12

JMC Projects secures new orders worth Rs596cr

Published on: 8:35 am

  • Shares of JMC Projects climbed ~7% in intraday trade on Monday as the company announced winning two projects worth Rs 596cr.
  • The company has secured two projects i.e. one is a residential and commercial project in South India worth Rs434cr and the other is a civil works project for a steel plant in Orissa for Rs162cr. Read more. 

SGX Nifty indicates flat opening for markets

Published on: 8:18 am

  • SGX Nifty is at 10923, up 1 point. For today, we expect low volumes day as globally most markets remain closed for the New Year.
  • The Sensex may remain one of the best performing indices in the emerging markets. Read more. 

Top stocks in focus: Lupin, Fortis, Bank of Maharashtra, HDFC Bank

Published on: 8:06 am

  • Lupin gets USFDA approval for Clobazam Oral Suspension.
  • Fortis Healthcare's board approved an extension of the long stop date under the Master Purchase Agreement to March 26. Read more. 

What not to miss today

Published on: 7:52 am

  • Markets to open flat; Nifty support @10817, resistance 10940.
  • FIIs sold 326cr (cash), bought 549cr in Index Futures.
  • US markets stage late rally but post worst decline in a decade.
  • Rupee gained 18 paise to 69.77/$. Read more.

Derivative Watch

Published on: 7:47 am

  • Nifty Futures and Bank Nifty Futures witnessed an addition of 4% and 7.89% in open interest, respectively.
  • On the Options front, short positions were built in OTM strikes are traders tried to benefit from the sideways consolidation in the Index. Nifty 11300CE and 10700PE added ~3.39 lakh shares and ~4.01 lakh shares, respectively. 
  • Jindal Steel and DHFL witnessed fresh long positions in yesterday's trade. 

Bulk deal

Published on: 7:45 am

  • Hindustan Construction Company: Promoter Arya Capital Management sold 1.45cr shares or 1.44% equity at Rs11.87 each.
  • AVG Logistics: Sixth Sense India Opportunities acquired 51,600 shares at Rs74.45 each.

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