Latest news and updates

11th Jan, 2019

Nifty settles below 10,800 mark; Tata Motors, IndusInd Bank stocks drag

Published on: 3:33 pm

  • Equity benchmark indices ended lower on Friday, with the Nifty settles below 10,800 mark, down 27 points. Mid- and small-cap stocks also witnessed selling pressure in today’s trade. The BSE MidCap Index fell 0.13% and the SmallCap Index declined 0.19%.
  • The Sensex ended down 97 points at 36,010 led by TCS, IndusInd Bank, RIL, and L&T. The market breadth was negative with 707 shares advancing, 1,000 shares declining, and 358 remaining unchanged.

Petrol prices rise 19 paise in Delhi, diesel by 28 paise

Published on: 3:20 pm

  • Petrol prices in Delhi climbed 19 paise to Rs69.07/liter on Friday while diesel rose 28 paise to Rs62.21/liter amid the constant rise in global crude oil prices.
  • In Mumbai, the price of petrol has gone up 19 paise to retail at Rs74.72/liter compared to Rs74.53/liter on Thursday. Read more. 

Italy industrial output drops, joins German, French trend

Published on: 3:16 pm

  • Italian industrial production fell more than expected, spelling trouble for the euro-area economy after disappointing numbers from Germany, France, and Spain.
  • Output dropped 1.6% in November from the month before, national statistics agency Istat said Friday in Rome. Read more. 

Nifty slips below 10,800 mark; Tata Motors, TCS stock under pressure

Published on: 2:38 pm

  • Equity benchmark indices extended losses in the afternoon session dragged by index heavyweight TCS, Reliance Industries, L&T, ICICI Bank, Infosys, IndusInd Bank, Maruti and Hindustan Unilever. ITC was the only major stock batting for the bulls followed by Kotak Mahindra Bank, HDFC, HDFC Bank and Vedanta.
  • The Sensex was down 172 points at 35,934, while the Nifty marginally down 52 points at 10,770. The market breadth was negative with 641 shares advancing, 1,026 shares declining, and 395 remaining unchanged.

RCom stock dips on reports of SC revising order

Published on: 2:30 pm

  • Shares of Reliance Communication were trading ~1% down on Friday after media reports suggested that the Supreme Court revised an order and directed the company’s Chairman Anil Ambani to appear in the court at the next date of hearing in a contempt case filed by Ericsson over unpaid dues worth over Rs550cr.
  • As per media reports, Justice RF Nariman and Vineet Saran stated, the "personal appearance of the alleged contemnor is not dispensed with."  Read more. 

Welspun signs concession agreement with PWD, Maharashtra

Published on: 2:09 pm

  • The public works department of Maharashtra and Welspun Road Infra Private Limited (“WRIPL”), a wholly owned subsidiary of Welspun Enterprises Limited, have executed a concession agreement on January 10, 2019.
  • They have inked a deal for the upgradation of roads/two laning of roads/two laning of roads with paved shoulders under MRIP Package on hybrid annuity mode (HAM) Package No AM 2 under public works circle, Amravati in Maharashtra state. Read more. 

Live share market update: Benchmark indices underperform Asian peers

Published on: 1:38 pm

  • Indian equity markets continued to trend lower in early afternoon trade on Friday with the Nifty trading down 48 points at 10,773 while Bank Nifty was down 99 points at 27,428.
  • Indian benchmark indices were underperforming their Asian peers and were the only ones to trade in the red in the region.
  • Meanwhile, barring Nifty Metal and FMCG, all sectoral indices were trading lower, with Nifty Realty being the worst performer and trading down 1.15%. Read more.

Jet Airways gains 2% on plans to resume talks with Tata: Reports

Published on: 12:50 pm

  • Shares of Jet Airways were trading 2% higher on Friday after media reports suggested that the airline company is mulling to resume stake sale discussions with the Tata Group.
  • As per media reports, the Naresh Goyal-led airline company will re-initiate talks as it is poised to run out of cash.
  • Apparently, in November 2018, Tata informed that it held preliminary talks with Jet Airways though no proposal was made. Read more.

Emami, ITC lead gains in Nifty FMCG

Published on: 12:45 pm

ITC climbs ~2% after brokerage maintains "Buy" call

Published on: 12:40 pm

  • Shares of ITC climbed ~2% in early morning trade on Friday after research house CLSA maintained its "Buy" call on the stock. The brokerage house maintained its stance after taxes on tobacco were left unchanged.
  • Furthermore, the company has also raised its target price to Rs400 from Rs390 earlier. It implies an over 38% potential upside from Thursday's closing levels. Read more

Nifty Realty declines 1% as GST Council disappoint investors

Published on: 11:32 am

  • The Nifty Realty index declined 1% in Friday morning trade due to lack of clarity of GST rates on under-construction apartments.
  • The much-awaited 32nd meeting of the GST Council on Thursday deterred the final verdict on a new tax rate for under-construction apartments. Read more. 

Sensex, Nifty trade lower; PSU Bank, Realty stocks drag

Published on: 11:30 am

  • Equity benchmark indices fell after positive start in Friday’s trade. On the sectoral front, realty, banking, IT and pharma index were trading lower, while metal, media, and FMCG stocks lead in today’s trade.
  • The Sensex was down 46 points at 36,059, while the Nifty marginally down 14 points at 10,807. The market breadth was negative with 740 shares advancing, 854 shares declining, and 462 remaining unchanged.

Bandhan Bank falls 2% after brokerage firm downgrade

Published on: 11:19 am

  • Shares of Bandhan Bank slipped 2% on the BSE in Friday’s trade after the brokerage firm Macquarie downgraded the stock to 'Underperform' from 'Neutral' and cut its target price to Rs400 from Rs560.
  • The brokerage firm expects the stock to underperform despite strong fundamentals. Further, it said that post the Gruh Finance acquisition, the risk of another expensive or ill-conceived merger is overhang. Read more

Eveready Industries jumps on report of Williamson Magor considering stake sale

Published on: 10:25 am

  • Shares of Eveready Industries India soared 14% on the BSE in morning trade after a media report said that BM Khaitan's Williamson Magor is planning to sell its stake in Eveready Industries.
  • The promoter, who owns 45% percent stake in the firm, has reportedly mandated Kotak Mahindra Bank for the potential sale, said the report. Read more. 

CONCOR commences coastal operations

Published on: 10:17 am

  • CONCOR has commenced coastal operations from Thursday.
  • The scope of the operations includes deployment of two dedicated vessels, each capable of carrying minimum of 700 loaded containers (TEUs). Read more. 

TCS stock slips 1.5% after reporting below estimate margin in Q3FY19

Published on: 10:03 am

  • Shares of IT behemoth TCS slipped over 1.5% in the morning trade in Friday’s session even as the firm reported Q3 results in-line with estimates.
  • The IT company posted PAT at Rs8,105cr, up 2.6% on qoq basis to against the median consensus estimates of Rs8,156cr. Read more. 

KNR Constructions gains 2% as arm gets financial closure for Telangana road project

Published on: 9:25 am

  • Shares of KNR Constructions were trading 2% higher on Friday after the company’s arm KNR Shankarampet Projects received the financial closure letter from the National Highways Authority of India (NHAI) for the road project in Telangana.
  • The project, worth bid price of Rs12,340cr, includes work for the four laning of Ramsanpalle to Mangloor section of NH-161 in Telangana, the company said in a press note after market hours to the exchanges on Thursday. Read more. 

Nifty above 10,800 mark; TCS stock slips after margin disappoints in Q3

Published on: 9:17 am

  • The Sensex was up 23 points at 36,129, while the Nifty marginally up 3 points at 10,824. The market breadth was positive with 784 shares advancing, 685 shares declining, and 573 remaining unchanged.
  • Shares of IT behemoth TCS slip after the firm reported Q3 results in-line with estimates. CLSA has maintained a buy call on the shares with a target price of Rs2,460.

HFCL wins orders worth Rs502.73cr; stock jumps~3.5%

Published on: 9:05 am

  • Himachal Futuristic Communications Limited (HFCL) has won orders of Rs502.73cr for the supply of Optical Fibre Cables (OFC).
  • The projects are from Larsen & Toubro (L& T) and a consortium led by ITI. Read more. 

Reliance Industries to shut 2 units at Jamnagar plant

Published on: 9:02 am

  • Reliance Industries, in its filing to the exchanges informed that the company is planning to shut down one of the crude distillation units and coker unit of its DTA refinery at Jamnagar.
  • The shutdown is for routine maintenance and inspection activities and for about 4 weeks starting from January 16, 2019, the company said in a press note after market hours to the exchanges on Thursday. Read more. 

Infosys Q3FY19E Result Expectation

Published on: 8:59 am

  • Consensus expectations for Q3FY19E:
  • Revenue – Rs21,260cr, up by 3.2% qoq as Infosys continues to execute its “Navigating your Next” strategy.
  • The street is building in Dollar revenue growth of 1.2% qoq with cross currency impact of ~55bps. Read more. 

Asian shares gain amid optimism over US-China trade negotiations

Published on: 8:48 am

  • Asian shares were trading in the green on Friday amid investors' optimism regarding signs of flexibility from the Federal Reserve and optimism over US-China trade negotiations.
  • As per Bloomberg report, Asian equities are all set to report the strongest week since early November. Read more. 

Share Market Update: 6 stocks that could give positive Intraday returns

Published on: 8:31 am

  • Since the beginning of the January expiry, baring few counters, majority of the underline securities have witnessed short covering or long build-up activity, indicating a positive bias for the markets.
  • Tracking the global cues, all the Asian indices are trading with a positive bias and the US indices also witnessed an upward momentum, posting a 5-day winning streak for the first time since September 2017, hinting a follow-up action by the Indian equities getting into today's trade. Read more. 

Top stocks in focus: Jet Airways, Tata Motors, Reliance Industries

Published on: 8:28 am

  • Jet Airways to weigh re-starting bailout talks with Tata Group.
  • Tata Motors’ JLR plans to cut 4,500 jobs worldwide. JLR's December sales were down 6.4% to 56,120 units on yoy. Read more

Current FII Data

Published on: 8:12 am

FII/DII Data:  In yesterday’s trading session, FIIs sold 344cr stock in the cash market, whereas DIIs bought Rs11crworth of stock. In the derivative market, FIIs bought 426cr of Index futures and bought Rs2024cr worth of Index options. In the Stock futures segment, FIIs bought 321cr worth of stock futures and bought 25cr stock options.

FII View: FIIs created bullish positions in the derivative segment in yesterday's trading session, which is deduced by the fact that they created 4528 net long contracts in Index Futures while simultaneously reducing 4627 long contracts in Index Put Options.

 FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 200 3 36 1.0 1.0
Index Short 207 1 43
Index Call Long 192 0 45 3.3 0.8
Index Call Short 58 0 77
Index Put Long 351 (1) 56 2.9 0.8
Index Put Short 121 (1) 97

Markets set to open in the green, focus to remain on Infosys ahead of Q3 earnings

Published on: 8:08 am

  • SGX Nifty is at 10,890.50, up 29.50 points.
  • For today, expect buying to return with Nifty attempting 10900 as fresh bouts of buying in select banks, pharma & FMCG to drive the index. Read more. 

What not to miss today

Published on: 7:54 am

  • Markets to open up; Infosys Q3 results eyed; Nifty support @10750, resistance 10940.
  • FIIs sold 344 cr (cash), bought 426cr in Index Futures.
  • Rupee appreciates 5 paise to 70.41/$1.
  • Brent oil breaches $61/bbl-mark. Read more.

Broker Radar for January 11

Published on: 7:52 am

CLSA Maintained ‘Buy’ On TCS; cut TP to Rs2,460 from Rs2,500.
  • Margin miss driven by apposite trade-off in a red-hot talent market.
  • Cut margin estimates by 60-70 basis points to reflect growth-margin trade-off. Read more. 

Derivative Watch

Published on: 7:40 am

  • Short positions were created in Nifty out-of-the-money strikes with 11,000CE and 10,600PE witnessing a surge in open interest to the tune of 2.76 lakh shares and 3.67 lakh shares respectively as traders tried to benefit from the sideways consolidation in the Index.
  • Divi's Lab and Titan Ltd witnessed a surge in underlying along with an addition in open interest indicating fresh long positions in the counter. 

Bulk deal

Published on: 7:30 am

  • Vikas Proppant & Granite Ltd: Gourav sold 10.50 lakh shares, or ~0.6% equity, at Rs4.2 a share.
  • Bliss GVS Pharma: Kotak Mahindra Investments sold 5.5 lakh shares of the company at Rs171.59 a share on the NSE.
  • CL Educate: ICICI Lombard General Insurance Company sold 1.03 lakh shares of the company at Rs114.98 per share on the NSE.

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