Latest news and updates

07th Jan, 2019

Indices end higher for second straight day; Nifty settles at 10,770 mark

Published on: 3:35 pm

  • Equity benchmark indices ended higher for second straight day, with the Sensex rose 155 points at 35,850. The Nifty gained 49 points at 10,777.
  • On the sectoral front, psu bank, pharma, and metal stocks ended in the negative note.
  • The market breadth was narrow with 876 shares advancing, 862 shares declining, and 347 remaining unchanged.

Viability of individual MSMEs required before restructuring, says RBI Guv: Reports

Published on: 3:30 pm

  • RBI governor Shaktikanta Das, on Monday, said that the decision over the debt restructuring for MSMEs can only be taken after examining the viability of individual companies/firms.
  • The apex bank governor made this statement after meeting with MSME representatives in Delhi to get their views on the announced restructuring process, media reports said. Read more. 

Sensex, Nifty trim gains; Dr.Reddy’s, Bajaj Auto stock slip

Published on: 3:03 pm

  • Equity benchmark indices trimmed morning gains in the afternoon session. Selling pressure were seen in L&T, Bajaj Auto, SBI, and HDFC.
  • The Sensex was up 116 points at 35,811, while the Nifty rose 24 points at 10,752.
  • The market breadth is narrow with 884 shares advancing, 831 shares declining, and 370 remaining unchanged.

Essar Global repays debt to Indian, Foreign lenders; Axis Bank up 3%

Published on: 2:42 pm

  • Essar Global has repaid Rs6,300cr to ICICI Bank, Axis Bank, and Standard Chartered bank, as per media reports.
  • This covers the entire Rs31,500cr of loans availed from these banks during 2008-14. Read more. 

Viability of individual MSMEs required before restructuring, says RBI Guv: Reports

Published on: 2:34 pm

  • RBI governor Shaktikanta Das, on Monday, said that the decision over the debt restructuring for MSMEs can only be taken after examining the viability of individual companies/firms.
  • The apex bank governor made this statement after meeting with MSME representatives in Delhi to get their views on the announced restructuring process, media reports said. Read more. 

TCS up ~1.5% on clarification regarding Bridgepoint acquisition

Published on: 1:54 pm

  • Shares of TCS were in the green on Monday morning. Shares prices climbed ~1.5% as the Tech major clarified on the acquisition of select assets of Bridgepoint Group LLC.
  • “This acquisition augments TCS' financial services and insurance domain knowledge, particularly in the area of US retirement services,” mentioned the company in an exchange filing on Sunday. Read more. 

RBI likely to pay ~$5.8bn interim dividend to govt: Media report

Published on: 1:49 pm

  • The Reserve Bank of India (RBI) is likely to transfer an interim dividend of $5.8bn to the government by March, a Reuters report said on Monday.
  • According to the report, the dividend might help the government to reduce the widening budget deficit following the sharp decline in tax collection. Read more. 

India’s direct tax collections up to Dec at Rs8.74 lakh cr, up 14%

Published on: 1:07 pm

  • The provisional figures of Direct Tax collections up to December 2018 show that gross collections are at Rs8.74 lakh cr, 14.1% higher than the gross collections in the corresponding period of last year, according to data released by the Ministry of Finance.
  • Refunds amounting to Rs1.30 lakh cr were issued during the April-December period, 17% higher than the refunds issued during the same period in the preceding year. Read more. 

Sensex, Nifty off day’s high; Pharma, Media stocks decline

Published on: 12:28 pm

  • Equity benchmark indices are witnessing some profit booking in the afternoon trades and trading off day's high. Important support is now seen around the 10,750, its 50-DEMA. On the other hand, resistance remains around the 10,925 levels for Nifty.
  • The Sensex was up 254 points at 35,949, while the Nifty rose 73 points at 10,801. The market breadth was positive with 1,414 shares advancing, 886 shares declining, and 163 remaining unchanged.
  • Tata Motors, Axis Bank, Titan, Infratel, and Grasim were the top gainers on the Nifty50, while Bajaj Auto, Dr. Reddy’s, Indiabulls HF, Coal India, and IOC were trading in the red.

BHEL gains 2% on commissioning super-critical thermal plant in record time

Published on: 12:15 pm

  • Shares of Bharat Heavy Electricals (BHEL) were trading 2% higher on Monday after the company commissioned an 800MW super-critical thermal plant in the record time of 46 months.
  • "The 800 MW set has been commissioned at Kothagudem Thermal Power Station (KTPS) of Telangana State Power Generation Corporation (TSGENCO)," the company said in a press note to the exchanges on Saturday. Read more. 

Future Lifestyle up 2% after increasing FPI limits from 24% to 49%

Published on: 11:40 am

  • Future Lifestyle and Fashion Ltd’s (FLFL) has received approval from NSDL for an increase in the aggregate foreign investment limit for foreign portfolio investors (FPIs) from 24% to 49% of the paid-up capital of the company.
  • In Q2FY19, paid-up capital of the company stood at ~Rs39cr divided into 19.4cr shares. Read more. 

Nifty Realty gains 2% in late morning trade

Published on: 11:33 am

  • The Nifty Realty index gained 2% in late morning trade on Monday amid heavy buying in stocks of Indiabulls Real Estate, Godrej Properties, DLF, Sobha, and Sunteck.
  • Shares of Indiabulls Real Estate and Godrej Properties surged 5% each and led the gains on the index. Read more. 

Sensex, Nifty at day's high; Realty index gains 2%

Published on: 10:55 am

  • Equity benchmark indices were trading higher on Monday, with the Sensex rising over 300 points to reclaim 36,000-mark amid strong global clues.
  • Macroeconomic data related to inflation and industrial production will be focus today.
  • The Sensex was up 334 points at 36,029, while the Nifty rose 92 points at 10,820. The market breadth was positive with 1,137 shares advancing, 480 shares declining, and 458 remaining unchanged.

Bandhan Bank slips 3% after reports of Gruh Finance acquisition

Published on: 10:54 am

  • Shares of Bandhan Bank were trading 3% down on Monday after media reports said that the bank is set to acquire Gruh Finance via a share swap arrangement with an aim to trim holdings of its promoter.
  • As per media reports, shareholders of Gruh Finance will receive three shares of Bandhan Bank for every five shares held in the home financier. Read more. 

Bandhan Bank slips 3% after reports of Gruh Finance acquisition

Published on: 10:43 am

  • Shares of Bandhan Bank were trading 3% down on Monday after media reports said that the bank is set to acquire Gruh Finance via a share swap arrangement with an aim to trim holdings of its promoter.
  • As per media reports, shareholders of Gruh Finance will receive three shares of Bandhan Bank for every five shares held in the home financier. Read more. 

Sobha spurts 2% after Q3FY19 business update

Published on: 10:32 am

  • Shares of Sobha Ltd gained 2% on the BSE after it has reported good average price realisation for the quarter ended December 2018.
  • The real estate company, during third quarter, had achieved new sales volume of 908,824 square feet worth Rs698.8cr. Read more. 

Rupee rises 39 paise against US dollar in early trade

Published on: 10:22 am

  • The Indian rupee rose to a five-month high on Monday.
  • It opened at 69.42/$ and touched a high of 69.36—a level last seen on August 10, 2018. Read more. 

Bharat Forge under pressure after CLSA downgrades stock to sell

Published on: 10:05 am

  • Shares of Bharat Forge are trading at a 52-week low on the NSE at Rs470, the lowest since February 2017.
  • As per media reports, global brokerage house CLSA has downgraded Bharat Forge to "sell" from outperform, with a cut in the target price to Rs420 from Rs680. Read more. 

HDFC Bank Q3 CASA ratio at 41% yoy; Stock up ~1%

Published on: 9:49 am

  • Shares of HDFC Bank are trading flat in Monday morning trade.
  • The Bank’s advances aggregated to ~Rs781cr  as  of  December  31,  2018  as compared to Rs631.2cr as of December 31, 2017 and Rs750.8cr as of September 30, 2018.  Read more. 

Nifty above 10,800 mark; Titan soars 3%

Published on: 9:40 am

  • Equity benchmark indices opened higher on Monday tracking positive cues in global markets, as December-quarter corporate earnings season begins this week.
  • The Sensex was up 284 points at 35,979, while the Nifty rose 87 points at 10,815. Read more. 

Government merges three regional rural banks

Published on: 9:25 am

  • The government has merged three Regional Rural Banks: Punjab Gramin Bank, Malwa Gramin Bank, and Sutlej Gramin Bank, into a single RRB with effect from January 1.
  • The decision was taken by the central government after consultation with the National Bank for Agriculture and Rural Development (NABARD), the Government of Punjab and Punjab National Bank, State Bank of India, and Punjab & Sind Bank. Read more. 

Lupin recalls Ceftriaxone Inj while Aurobindo and Torrent recall Sartan in US

Published on: 9:20 am

  • Lupin Pharma is voluntarily recalling 5 lots of Ceftriaxone Injection (250mg/500mg/1000mg/2000mg) from the hospital/physician level.
  • The company initiated the voluntary recall as it found that the vials contained visual grey particulate matter. Read more. 

Titan Q3FY19 - Earnings update - Jewellery segment likely to deliver ~22% growth for FY19E

Published on: 8:59 am

  • Titan highlighted in its quarterly pre result update for Q3FY19 that the company continued to execute well across all its businesses on the back of well laid out strategies for each of its businesses. The highlights from the press release are as below:
  • Jewellery segment – customer demand was buoyant in the festive season
  • The division continued to witness strong same stores growth (SSSG), reflecting continuing market share gains. Read more. 

ONGC’s arm achieves success in Columbia’s onshore well

Published on: 8:59 am

  • Oil and Natural Gas Corpn (ONGC) in its filing to exchanges informed that it’s wholly owned subsidiary and overseas arm, ONGC Videsh has registered a significant discovery of oil in its onshore block CPO-5, Colombia, in Llanos Basin.
  • Accordingly, the well Indico-1 was spudded on November 07, 2018 and completed the drilling on December 15, 2018. Read more. 

Asian stock markets gain; Nikkei up ~3%

Published on: 8:45 am

  • Asian stock markets were trading higher on Monday’s trade as a dovish turn by the Federal Reserve and startlingly strong US jobs data soothed some of the market's worst fears about the global outlook.
  • Meanwhile, Chinese markets react to the central bank's policy easing announced late on Friday, which frees up around $116bn for new lending. Read more. 

Share Market Update: 2 stocks that can give strong gains backed by the MACD Histogram indicator

Published on: 8:45 am

  • The MACD-Histogram is an oscillator that fluctuates above and below the zero line.
  • Bullish or bearish divergence on MACD-Histogram can alert chartists to an imminent signal line crossover in MACD. Read more. 

Lupin Torrent and Invagen get final approval for gLatuda

Published on: 8:42 am

  • Lupin, Torrent Pharma and Invagen (Cipla's subsidiary) has received final USFDA approval for their version of Lurasidone HCL.
  • This is a generic of Sunovion Pharmaceuticals’ Latuda tablets. Read more. 

Rcom clarifies on DoT and Ericsson contempt petitions

Published on: 8:40 am

  • Reliance Communications, in its filing to the exchanges clarified that the company remained fully committed to settling dues with Ericsson, a Swedish telecom gear-maker, from the proceeds of its sale of wireless assets to Reliance Jio Infocomm Ltd.
  • The announcement made by the company on Sunday. Read more. 

US govt delegations to visit China on Jan 7-8 for trade talk

Published on: 8:25 am

  • The United States government delegations will visit China on January 7 and 8 to hold trade talks, media reports stated citing China’s commerce ministry.
  • This will be the first face-to-face trade talk between the officials of the two biggest economies since President Donald Trump and his Chinese counterpart agreed on a temporary truce in the trade war, reports said. Read more. 

Top stocks in focus: Titan, Bandhan Bank, Gruh Finance, Sobha, IDBI Bank

Published on: 8:08 am

  • Titan said good growth momentum seen across all its businesses in seasonally strong third quarter.
  • For the jewellery division, strong same sales growth continues to occur, expected growth for full year stands at 22% and the customer demand remained buoyant in the festive season. Read more. 

Current FII Data

Published on: 8:05 am

FII/DII Data:  In Friday’s trading session FIIs sold Rs157cr stock in the cash market whereas DIIs bought Rs240cr worth of stock. In the derivative market, FIIs sold Rs351cr of Index futures and sold Rs662cr worth of Index options. In the Stock futures segment, FIIs bought Rs145cr worth of stock futures and bought Rs131cr stock options.

FII View: FIIs created bearish positions in the derivative segment in Friday’s trading session which is deduced by the fact that they created 5,253 net short contracts in Index Futures while simultaneously creating 10,243 short contracts in Index Call Options.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 178 2 21 0.9 0.9
Index Short 191 5 32
Index Call Long 171 4 29 3.3 0.8
Index Call Short 52 24 59
Index Put Long 320 3 43 3.2 0.9
Index Put Short 101 13 65

SGX Nifty indicates a gap up opening for the Indian Markets

Published on: 7:59 am

  • SGX Nifty is at 10889.50, up 111 points. Nifty saw the weak start on Friday get quickly bought into with second half short covering seeing a smart bounce towards the end.
  • The rally was led by the China cut in CRR, which reflected in smart bounce back in metals & commodities. Read more. 

Bulk deal

Published on: 7:54 am

  • Hind Rectifiers: Darashaw & Company sold 1.15 lakh shares of the company at Rs105.24 per share on the NSE.
  • PG Electroplast: Jhaveri Trading and Investment Pvt Ltd sold 1.55 lakh shares of the company at Rs118.13 per share on the NSE. 

What not to miss today

Published on: 7:50 am

  • Markets to open higher; Nifty support @10740, resistance 10900.
  • FIIs sold 157cr (cash), 351cr in Index Futures.
  • Rupee appreciates 48 paise to 69.72/$.
  • Brent crude up 1.33% to $57.82/barrel.
  • US-China to hold governmental trade talks on January 7-8. Read more.

Derivative Watch

Published on: 7:35 am

  • Nifty & Bank Nifty future added fresh open interest consisting mainly of long positions.
  • On the Options front, heavy long positions were created in Bank Nifty deep out of the money January 10, 2019 expiry call option contracts. PCR of at the money and in the money strikes increased sharply as fresh put writing positions were added.
  • Bharti Infratel and Hindalco are likely to trend higher on account of the formation of fresh long positions. 

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