Latest news and updates

08th Jan, 2019

Nifty settles above 10,800 mark; Sun Pharma, ICICI Bank

Published on: 3:35 pm

  • Equity benchmark indices ended higher for third consecutive session led by ICICI Bank, SBI, Axis Bank, and Sun Pharma.
  • The Sensex was up 131 points at 35,9813, and the Nifty rose 30 at 10,802. The market breadth was narrow as 829 shares advanced, while 896 shares declined and, 341 shares remained unchanged.
  • Sun Pharma, SBI, and ICICI Bank were the big gainers, while Kotak Mahindra Bank, NTPC, Zee Entertainment and UPL have lost the most on the BSE.

Bharat Dynamics gains 8% on order wins worth Rs760cr

Published on: 3:15 pm

  • Shares of Bharat Dynamics were trading 8% higher on Tuesday after the company received a contract worth Rs760cr for the supply of anti-tank guided missiles to the Indian Army.
  • "The company will manufacture the missiles under continued technical collaboration with Russia at its Bhanur unit in Telangana," the company said in a press note to the exchanges on Tuesday. Read more. 

Nifty above 10,800 mark; ICICI Bank, Yes Bank stock surge

Published on: 3:04 pm

  • The BSE Sensex was up 127 points at 35,977, while the NSE Nifty was up 30 points at 10,801.
  • The market breadth was narrow with 838 shares advancing, 865 shares declining, and 362 remaining unchanged.
  • The most active stocks include ICICI Bank, Yes Bank, Axis Bank, SBI, and Eicher.

ICICI Bank hits record high; stock up 3%

Published on: 2:59 pm

  • Shares of ICICI Bank surged 3% and hit a record high during the afternoon session.
  • The stock hit a 52-week high at Rs379.45 on the NSE. Read more. 

Gruh Finance extends decline after Bandhan Bank merger deal

Published on: 2:42 pm

  • Shares of Gruh Finance extended their decline in the afternoon session in Tuesday’s trade. Bandhan Bank announced yesterday that it would buy Gruh Finance, a subsidiary of HDFC Ltd, in a share swap deal amounting to ~Rs20,855cr.
  • The amalgamation scheme is subject to approval from the Reserve Bank of India (RBI) as well as shareholders. Read more. 

Tata Elxsi Ltd's Q3FY19 standalone net profit declines 19.7% qoq to Rs66cr

Published on: 1:55 pm

  • Tata Elxsi reported a muted set of number for Q3FY19. Revenue grew by 1.0% qoq to Rs407cr. EBIT came in at Rs97cr, down 3.5% qoq. EBIT margin contracted by 113bps qoq to 23.9%. Reported PAT declined by 19.7% qoq to Rs66cr.
  • Software development & services revenue grew by 0.5% qoq to Rs394cr. System integration & support services revenue grew by 19.1% qoq to Rs13cr.
  • System Integration has a significant portion of re-sale component, which typically peaks in the 2H (Q4 more specifically).
  • EBIT margin expansion on qoq basis was impacted by change in mix as Software development & services mix declined from 97.2% to 96.7% on qoq basis. Read more.

Sensex, Nifty trade higher; Gruh Finance tanks 14%

Published on: 1:49 pm

  • Indian equity markets were trading flat in afternoon trade on Tuesday with benchmark indices fluctuating constantly across the unchanged line.
  • Nifty was trading 8 points lower at 10,764 while Bank Nifty was up 3 points at 27,307.
  • Shares of Gruh Finance witnessed a sharp correction and were down 13.7% at Rs264 after details regarding its merger deal with Bandhan bank were announced on Monday.

Monsanto wins patent case on GM Cotton Seeds in India; Stock up 3%

Published on: 1:45 pm

  • Monsanto won a won a legal battle to own patents on genetically-modified cotton seeds in India, the world’s biggest producer of the fiber.
  • The decision on appeal overturns an earlier ruling by the Delhi HC that Monsanto - which has been bought by German drug and crop chemical maker Bayer AG - was unable to claim patents on GM cotton seeds, as per media reports. Read more. 

Live share market update: Indices trade flat in afternoon trade

Published on: 1:26 pm

  • Indian equity markets were trading flat in afternoon trade on Tuesday with benchmark indices fluctuating constantly across the unchanged line. 
  • Nifty was trading 8 points lower at 10,764 while Bank Nifty was up 3 points at 27,307.
  • Sector-wise, Nifty Pharma, up 1.18%, was the top performer followed by Nifty PSU Bank, which was up 0.88%. Read more.

Lupin gets European approval for NaMuscla

Published on: 1:05 pm

  • Lupin, on Tuesday, announced that the European Commission (EC) has approved its novel, rare disorder drug NaMuscla.
  • This drug is indicated in the treatment of inherited neuromuscular disorders called non-dystrophic myotonic (NDM) disorders in adults, where muscles are unable to relax and lead to voluntary contraction. Read more.

Live share market update: Indices trade flat in afternoon trade

Published on: 1:01 pm

  • Indian equity markets were trading flat in afternoon trade on Tuesday with benchmark indices fluctuating constantly across the unchanged line.
  • Nifty was trading 8 points lower at 10,764 while Bank Nifty was up 3 points at 27,307. Read more. 

Cadila receives USFDA approval to market Aripiprazole

Published on: 12:55 pm

  • Cadila Healthcare, in a filing to the exchanges on Tuesday, informed that it has received approval from the US Food and Drug Administration (USFDA) to market Aripiprazole Tablets USP (US RLD- Abilify) in the strengths of 2mg, 5mg, 10mg, 15mg, 20mg, and 30mg.
  • "Aripiprazole is an antipsychotic drug (atypical type). It is used to treat mental/mood disorders such as bipolar disorder, schizophrenia, Tourette's disorder, and irritability associated with autistic disorder. It is also used in combination with other medications to treat depression. It works by helping to restore the balance of certain natural chemicals in the brain (neurotransmitters)," the company said in a press note. Read more.

Sensex, Nifty trade volatile; Sun Pharma, Tata Motors stocks lead

Published on: 12:45 pm

  • Equity benchmark indices swung between gains and losses on Tuesday amid mixed Asian cues and a rebound in crude oil prices. Sector-wise, pharma, bank, auto, and realty indices were trading in the positive zone.
  • The BSE Sensex was down 34 points at 35,817, while the NSE Nifty was down 23 points at 10,749. The market breadth was negative with 744 shares advancing, 894 shares declining, and 423 remaining unchanged. Read more.

Endurance Technologies' arm acquires Fonpresmetal for €8.16mn

Published on: 11:57 am

  • Endurance Technologies’ subsidiary Endurance Overseas Srl has acquired the entire equity stake in Fonpresmetal Gap SpA for €8.16mn. Despite this, shares of the company were trading 0.3% down on the BSE in noon trade on Monday. Read more. 

Himachal Futuristic gains ~9% as board approves expansion plan

Published on: 11:22 am

  • Shares of Himachal Futuristic Communications gained ~9% intraday on Tuesday after its board granted approval to a proposal for adding manufacturing capacity at its optical fibre cable (OFC) plant at Hyderabad.
  • Accordingly, the company will expand its manufacturing capacity from 7mn fibre kilometer (FKM) to 10.5mn FKM, where it is already set up optical fibre (OF) and OFC manufacturing facilities, Himachal Futuristic Communications said in a press note after market hours to the exchanges on Monday. Read more. 

BSE Pharma index up led by Sun Pharma, Aurobindo

Published on: 11:16 am

  • The BSE Healthcare index was trading up 0.63% at 13,856.5 on the BSE.
  • Sun Pharmaceuticals, Aurobindo, PEL, Dr. Reddy’s, Biocon, and Lupin contributed majorly to the gain in the index. Read more. 

Prabhat Dairy gains 3% after foraying into animal nutrition business

Published on: 10:45 am

  • Shares of Prabhat Dairy were trading 3% higher on Tuesday after the company forayed into the animal nutrition business.
  • Accordingly, the company has "taken preliminary steps in the area of mineral premixes by executing a joint development agreement with DLG for the development of two products in Denmark for the improvement of health and to increase milk productivity and quality of cattle," the company said in a press note after market hours to the exchanges on Monday. Read more. 

Nifty above 10,750 mark; Gruh Finance plummets 13%

Published on: 10:23 am

  • Equity benchmark indices opened slightly lower on Tuesday, tracking weak global cues. HDFC  Bank, Kotak Mahindra Bank, TCS and Axis Bank were under pressure on the Sensex.
  • Shares of Tata Motors gained 2% on the back of robust JLR UK sales for the month of December 2018. Read more

Rupee back at 70-mark; trades at 70.06/$

Published on: 9:46 am

  • The Indian Rupee reclaimed its key level of 70 against the dollar on Tuesday.
  • The currency depreciated 15 paise to open at 69.83/$ compared to its previous close of 69.68. Read more. 

ICICI Prudential Life witnesses positive APE growth during December 2018

Published on: 9:43 am

  • ICICI Prudential Life Insurance Company’s (IPru Life) reported 3% growth in its annual premium equivalent (APE) during the month of December 2018.
  • The company has been able to arrest the decline in APE growth since November 2018. Read more. 

Sensex, Nifty open in the red amid weak rupee; Bandhan Bank falls 4%

Published on: 9:24 am

  • Equity benchmark indies opened slightly lower on Tuesday, tracking weak global cues. HDFC twins, Reliance Industries, Kotak Mahindra Bank, and Axis Bank were under pressure on the Sensex.
  • The Indian rupee snapped two day’s rally and opened lower by 0.35% to 69.92/$ after crude oil prices surged in eight out of nine trading sessions.
  • The Sensex was down 32 points at 35,818, while the Nifty slipped 17 points at 10,755. The market breadth was positive with 1,181 shares advancing, 296 shares declining, and 554 remaining unchanged.

Exide Industries to invest up to 30% equity stake in Cleantech at Rs20cr

Published on: 9:06 am

  • Exide Industries to invest up to 30% equity stake in Cleantech aggregating to Rs20.05cr for setting up captive solar power projects for various manufacturing facilities.
  • The company made announcement after market hours. Read more. 

Malur unit of VST Tillers Tractors to remain shut on Jan 8th,- 9th, 2019

Published on: 9:04 am

  • VST Tillers Tractors Limited (VSTTL), India’s largest manufacturer of power tillers, announced that its plant at Malur in Kolar district of Karnataka will remain closed on January 8 and 9, 2019.
  • The shutdown will be owing to two reasons. Firstly, Trade unions of VSTTL’s Bangalore and Mysore units are participating in the "COUNTRY WIDE GENERAL STRIKE" called by Central Unions and Independent National Federations on the two days. Read more. 

SC asks RCom, Jio to resolve issues over past dues by Jan 11: Media report

Published on: 8:59 am

  • The Supreme Court has directed Anil Ambani led Reliance Communication (RCom) and Reliance Jio Infocomm (Jio), a company led by Mukesh Ambani, to resolve an issue among themselves by January 11 over the payment of past liabilities of former, once the spectrum trading deal between the two is cleared by the government, a PTI report said.
  • As per the report, SC has also asked Jio to furnish an undertaking to abide by the spectrum trade guidelines. Read more. 

World Bank Group President Jim Yong Kim to step down on Feb 1

Published on: 8:45 am

  • The World Bank Group President Jim Yong Kim announced that he will be stepping down from his position after more than six years, in which the institution’s shareholders provided the strong support to multiple initiatives to ensure that the Bank Group retains the strong leadership in the world of the global development.
  • “It has been a great honor to serve as President of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime,” said Kim. Read more. 

Share Market Update: 3 Stocks that can give moving average breakout

Published on: 8:40 am

  • Exponential moving average differs from the simple and weighted moving as a given day's EMA is calculated by taking all days prior to current day into the calculation.
  • Ideally, to calculate 100% accurate EMA, we should make use of all the closing prices right from the time of listing of the stock. Read more. 

Broker Radar for January 8

Published on: 8:17 am

  • Morgan Stanley Maintained ‘Overweight’ on ICICI Prudential with a TP of Rs425.
  • ICICI Pru Life reported premium growth of 3% for December.
  • Expect muted premium CAGR of 6 percent over FY18-21, but a higher VNB CAGR of 20%. Read more

SGX Nifty indicates flat opening for markets

Published on: 8:15 am

  • SGX Nifty is at 10805 points. For today, we expect foreign investors to continue to be buyers, while local mutual funds sell and book profit. 
  • On Monday, Nifty saw a solid start along with positive global cues to trade over 100 points higher in the first session.
  • However, profit booking in the last one hour saw most gains get sold into with Nifty closing up 45 points. Auto and metals sector stocks saw weakness, while private bank and select financial services saw gains. Read more.

Current FII Data

Published on: 8:15 am

FII/DII Data:  In yesterday’s trading session, FIIs bought 736cr stock in the cash market, whereas DIIs sold 141cr worth of stock. In the derivative market, FIIs bought 408cr of Index futures and bought 509cr worth of Index options. In the Stock futures segment, FIIs bought 125cr worth of stock futures and sold 25cr stock options.

FII View: FIIs created bullish positions in the derivative segment in yesterdays’ trading session, which is deduced by the fact that they created 4523 net long contracts in Index Futures while simultaneously creating 7438 long contracts in Index Call Options.

 FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 185 4 25 1.0 0.9
Index Short 193 1 33
Index Call Long 179 4 35 3.2 0.8
Index Call Short 55 6 68
Index Put Long 328 2 46 3.1 0.9
Index Put Short 105 4 71

Top stocks in focus: Bandhan Bank, Gruh Finance, Insecticides India, Sadbhav Infra

Published on: 8:08 am

  • Bandhan Bank announced that it will buy Gruh Finance, a subsidiary of HDFC Ltd, in a share swap deal amounting to ~Rs20,855cr.
  • The amalgamation scheme is subject to approval from the Reserve Bank of India (RBI) as well as the shareholders. Read more. 

Asian stock market mixed in morning trade

Published on: 8:08 am

  • Asian stock market was trading mixed on Tuesday on hopes that US-Chinese talks in Beijing would bring a halt to trade disputes between the world's biggest economies, while OPEC-led supply cuts tightened markets.
  • As per media report, China said on Monday that it is willing to resolve its trade disputes with the US on an equal footing, according to Chinese foreign ministry. Read more. 

What not to miss today

Published on: 7:51 am

  • Markets to open flat in tandem with Asian peers; Nifty support @10700, resistance 10840.
  • FIIs bought 736cr(cash), 408cr in Index Futures.
  • US, Asian shares up ahead of second day of US-China trade talks.
  • Brent crude ended higher for 6th day, up 0.47% to $57.33/barrel.
  • Rupee appreciates 4 paise at 69.72/$. Read more.

Bulk deal

Published on: 7:43 am

  • Rajshree PolyPack: Unifi Financial Pvt Ltd sold 92,000 shares of the company at Rs105 per share on the NSE.
  • TPL Plastech: Bridge India Fund sold 70,000 shares of the company at Rs150 per share on the NSE.

Derivative Watch

Published on: 7:38 am

  • Nifty IT index added fresh long positions. Immediate support is placed at 14000 and resistance is placed at 14350.
  • Nifty 11400CE saw long unwinding.
  • Market breadth ended in the favor of the advances, with advance/decline ratio closing at 1:1x.
  • BEML and Marico added long positions.

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