Latest news and updates

14th Jan, 2019

Rupee depreciates 40 paise; trades at 70.77/$

Published on: 3:41 pm

  • The Indian rupee depreciated 40 paise in intraday trade on Monday to 70.89 against the dollar compared to its previous close of 70.49/$.
  • The currency opened flat at 70.50/$ and appreciated 3 paise to 70.44/US$. At 3:40 PM IST, the domestic unit was trading at 70.77/$. Read more. 

Nifty settles below 10,750 mark led by L&T, ICICI Bank

Published on: 3:31 pm

  • Equity benchmark indices fell for the third consecutive session led by L&T, ICICI Bank, HDFC, and TCS.
  • The BSE Sensex ended 156 points lower at 35,853, while the Nifty slipped 57 points at 10,737. The market breadth was negative with 660 shares advancing, 1,081 shares declining, and 344 remaining unchanged.
  • The Bank Nifty dragged indexes with the gauge ending 0.75% lower, while the MidCap index slipped 0.39% in today’s trade.

Federal Bank top loser in Nifty Private Bank index, while Yes Bank stock gains

Published on: 3:17 pm

Nifty holds 10,700 mark; Wipro, GAIL stock slips 4%

Published on: 3:05 pm

  • Equity benchmark were trading under pressure in the last hour of trading session amid weak global cues.
  • The BSE Sensex was down 175 points at 35,835, while the Nifty was down 65 points at 10,730. The market breadth was negative with 627 shares advancing, 1,096 shares declining, and 362 remaining unchanged.
  • Shares of GAIL (India) hit a three-month low, down 4% on concerns of weak December quarter earnings.

Karnataka Bank stock soars 3.5% post strong Q3FY19 numbers

Published on: 2:59 pm

  • Shares of Karnataka Bank soared 3.5% in the afternoon session on the BSE.
  • The bank reported net profit of Rs140cr for the quarter ended December, posting a robust 61% growth on a yoy basis. Read more. 

European stocks decline on weak global cues

Published on: 2:56 pm

  • Shares in European markets were trading down on Monday tracking the sell-off in Asian and US equity futures owing to dismal Chinese trade data released by the government on Monday.
  • As per a Bloomberg report, technology companies and miners were leading the fall in the Stoxx Europe 600 Index. Read more. 

Sun Pharma gains 1% on launching Xelpros in the US

Published on: 2:52 pm

  • Shares of Sun Pharma Advanced Research Company gained 1% in intraday trade on Monday as the pharma giant commercialized Xelpros (Latanoprost ophthalmic emulsion) 0.005%.
  • SPARC had out-licensed the Xelpros brand to Sun Pharma in June 2015, and this commercialization of Xelpros has triggered a milestone payment of $10mn and sales-linked royalties by Sun Pharma to SPARC. Read more.

Yes Bank gains 7% on appointment of Brahm Dutt as non-executive part-time Chairman

Published on: 2:42 pm

  • Shares of Yes Bank gained 7% on Monday after the bank appointed Brahm Dutt as its non-executive part-time Chairman of the board.
  • The Reserve Bank of India (RBI), pursuant to the provisions of the Banking Regulation Act, 1949, and on the basis of Dutt’s outstanding credentials and experience has approved his appointment up till July 04, 2020, the bank said in a press note to the exchanges on Saturday. Read more

Nifty Metal index drops 1% led by Jindal Steel, NALCO, SAIL, JSW Steel

Published on: 2:07 pm

BHEL wins Rs565cr order for solar power plants in Telangana

Published on: 1:28 pm

  • Bharat Heavy Electricals Ltd (BHEL) has won an order from Singareni Collieries Company for the setting up of 129 MW solar photovoltaic (SPV) power plants in Telangana. Significantly, valued at Rs565cr, this is the largest SPV power plant order won by BHEL till date. 
  • The plants are to be set up at four locations - Ramagundam (50 MW), Yellandu (39 MW), Manuguru (30 MW), and Pegadapally (10 MW) - in Telangana on an engineering, procurement, and construction (EPC) basis. With this order, BHEL's solar portfolio has risen to more than 710 MW. Read more.

Live share market update: Broad-based selling leads index lower

Published on: 1:06 pm

  • The Indian equity markets continued to trend lower in early afternoon trade on Monday.
  • The Nifty was down 88 points lower at 10,706 while Bank Nifty was down 199 points at 27,235. Read more

At 3.8%, India's wholesale inflation at 8-month-low in Dec

Published on: 1:05 pm

  • The annual rate of inflation, based on the monthly Wholesale Price Index (WPI), fell to 3.80% (provisional) for the month of December 2018 (over December 2017) as compared to 4.64% (provisional) for the previous month and 3.58% during the corresponding month of the previous year.
  • Build up inflation rate in the financial year so far was 3.27% compared to a build-up rate of 2.21% in the corresponding period of the previous year, as per government data. Read more.

Tata Sponge declines 6% post Q3FY19 numbers

Published on: 12:50 pm

  • Shares of Tata Sponge Iron were trading 6% down in late morning trade on Monday after the company’s profit in the third quarter of FY19 dropped 25.5% yoy to Rs26.8cr.
  • Further, the company's EBITDA stood at Rs30.4cr, down 36.9% yoy, while its EBITDA margin declined 1,080bps yoy to 11.6%. Read more.

BL Kashyap stock soars ~8% on Rs652cr order win

Published on: 12:41 pm

  • Shares of BL Kashyap and Sons soared ~8% in intraday trade on Monday after the company won an order worth Rs652cr.
  • The company has won the orders in categories like residential, commercial, and government ventures.
  • The projects are from various unrelated domestic clients from varied sectors in cities such as Bangalore and Chennai. Read more  

Domestic vehicle sales dip 3% yoy in December on weak festive demand, inventory reduction

Published on: 12:34 pm

  • Total domestic volumes declined 3% yoy in December 2018 as companies dispatched lesser vehicles to dealers in a bid to reduce inventory after a weak festive season, according to data released by the Society of Indian Automobile Manufacturers (SIAM).
  • Auto Original Equipment Manufacturers (OEMs) also offered aggressive discounts to push sales before the end of the calendar year-end. Read more. 

Sensex, Nifty at day’s low; DMart stock tumbles 9%

Published on: 12:12 pm

  • Equity benchmark indices slipped further led by metal, realty, financial, and media stocks and weak global cues.
  • The Sensex was down 309 points at 35,700, while the Nifty down 92 points at 10,702. The market breadth was negative with 522 shares advancing, 1,133 shares declining, and 435 remaining unchanged.
  • Yes Bank, Infosys, Infratel, Sun Pharma, and IOC were the top gainers on the Nifty50, while GAIL, L&T, IndusInd Bank, Wipro, and JSW Steel were trading in the red.

Sensex slips over 200 points; L&T, TCS stocks drag

Published on: 10:37 am

  • Equity benchmark indices slipped further in the morning session led by financial stocks.
  • The Sensex was down 167 points at 35,842, while the Nifty down 57 points at 10,738. The market breadth was negative with 991 shares advancing, 519 shares declining, and 542 remaining unchanged.
  • Yes Bank, Infosys, Infratel, Sun Pharma, and Dr.Reddy’s were the top gainers on the Nifty50, while GAIL, L&T, IndusInd Bank, Vedanta, and TCS were trading in the red.

Jammu & Kashmir Bank surges 3% after PAT rises in Q3FY19

Published on: 10:35 am

  • Shares of Jammu & Kashmir bank surged 3% on the BSE after the bank reported a 43% increase in its net profit at Rs104cr for the third quarter ended December 2018, the bank said in a statement.
  • The bank earned a profit of Rs72.5cr in the October-December quarter of the previous fiscal (FY18). Read more. 

Federal Bank stock falls 6% after Ganesh Sankaran resigns as executive director

Published on: 10:18 am

  • Shares of Federal Bank fell 6% on the BSE after Ganesh Sankaran, Executive Director, announced that he will step down with effect from February 15, 2019.
  • “Ganesh Sankaran, Executive Director on the Board of the Bank has informed of his desire to take up other opportunities in the financial services sector and thereby step down from the Board of the Bank with effect from February 15, 2019,” the bank said in the filing. Read more. 

Infosys stock gains 2% after Q3FY19 results

Published on: 10:05 am

  • Shares of Infosys gained 2% in morning trade on Monday.
  • In its Q3FY19 results declared on Friday after market hours, the IT major reported constant currency (cc) revenue growth of 2.7% qoq and US revenue of $2,987mn, up 2.2% sequentially. Read more. 

IDFC Bank re-named IDFC First Bank

Published on: 9:10 am

  • IDFC Bank said it has changed its name to 'IDFC First Bank' w.e.f. January 12.
  • “We hereby inform you that the name of the bank has been changed from IDFC Bank Limited to ‘IDFC First Bank Limited’ w.e.f. January 12, 2019 by virtue of ‘Certificate of Incorporation pursuant to change of name’ issued by the Registrar of Companies, Chennai,” the bank said in a filing to the BSE. Read more.

Trump promises US citizenship for H-1B visa workers: Media reports

Published on: 9:08 am

  • President Donald Trump said that he is mulling changes including a possible pathway to the US citizenship to foreigners holding H-1B visas, issued temporarily to highly educated immigrants, who work in specialty occupations such as technology or medicine, media reports stated.
  • As per media reports, Trump in a Twitter post stated that H1-B holders in the United States can rest assured that changes are soon coming which will bring both simplicity and certainty to your stay, including a potential path to citizenship. Read more. 

Share Market Update: 10 Stocks that have witnessed maximum changes in its Put-Call ratio

Published on: 9:04 am

  • Put/Call ratio is a popular derivative indicator, specifically designed to help traders gauge the overall mood of the market.
  • The ratio is calculated either on the basis of options trading volumes or on the basis of the open interest for a period.  Read more. 

FII and DII Data

Published on: 8:48 am

FII/DII Data: In Friday’s trading session FIIs sold 687cr stock in the cash market whereas DIIs bought 123cr worth of stock. In the derivative market, FIIs sold 539cr of Index futures and bought 218cr worth of Index options. In the Stock futures segment, FIIs bought 204 crores worth of stock futures and sold 141cr 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 6,188 short contracts in Index Futures while simultaneously creating 12,574 long contracts in Index Put Options.

% Chg % Chg
Since Expiry
Short Ratio
 Since Expiry
Index Long 198 (1) 34 0.9 0.9
Index Short 213 3 47
Index Call Long 200 4 51 3.1 0.8
Index Call Short 64 10 95
Index Put Long 363 4 62 2.8 0.8
Index Put Short 129 6 110

Top stocks in focus: Infosys, Sun Pharma, Cadila, Airtel

Published on: 8:36 am

  • Infosys board approved buyback worth Rs8,260cr at a share price of not more than Rs800 per share involving 2.36% equity and the tech company also declared a special dividend of Rs4/share. 
  • Sun Pharma said commercialization of Xelpros has triggered $10mn payment and sales linked royalties to Sun Pharma Advanced Research Company. The research company had licensed Xelpros to Sun Pharma in June 2015.
  • Bharti Airtel agreed to reduce its stake in its Tanzanian unit to 51% from 60% after months of negotiations with the government, which accused the operator of acquiring the initial shareholding illegally, as per media reports. Read more.

Cadila gets final approval from USFDA for two drugs

Published on: 8:31 am

  • Cadila Healthcare in its filing to the exchanges informed that the company has received final approval from the USFDA to market Betamethasone Dipropionate Cream and Amlodipine & Atorvastatin Tablets.
  • The company will manufacture drugs at its formulations manufacturing facility in SEZ, Ahmedabad, it said in a press note to the exchanges on Friday. Read more

Broker Radar for January 14

Published on: 8:26 am

CLSA maintained ‘Buy’ on Infosys and hiked TP to Rs910.
  • Stellar revenue growth, deal wins and raised guidance in December quarter.
  • Growth was broad-based led by key geographies, key verticals and digital.
  • Growth acceleration, capital return and a demand recovery merit a rerating.
PhillipCapital maintained “Buy” rating on Infosys and increased TP to Rs800.
  • Strong performance; small miss on margins in Q3FY19.
  • Expect strong revenue growth in coming quarters due to recent performance and deal flow momentum.
  • Remain positive on the back of improving business metrics and significant valuation gap to Tata Consultancy Services. Read more

Bulk deal

Published on: 8:17 am

  • Apollo Tricoat Tubes Ltd: Dinesh Pareekh sold 1.28 lakh shares, or ~0.5% equity, at Rs132.6 a share.
  • Ajooni Biotech: Prism Medico and Pharmacy sold 40,000 shares of the company at Rs28.85 a share on the NSE.
  • MK Proteins: Nirmal Gupta bought 32,000 shares of the company at Rs77 a share on the NSE.

Markets to open on flat note in-line with Asian peers

Published on: 8:09 am

  • SGX Nifty is at 10825, up 8 points. On Friday, Nifty saw a weak session in anticipation of lower IIP (index of industrial production) numbers, which were very disappointing given a large number of holidays in November.
  • However, last hour buying on Friday by local funds saw Nifty recovery and it closed down just 25 points. Banks were the sore spot as higher oil prices saw rupee weaken and bond yields rise, which saw financials under pressure. Read more.

What not to miss today

Published on: 7:52 am

  • Markets to open flat; Nifty support @10700, resistance 10870.
  • FIIs sold 687.2cr (cash), 539cr in Index Futures.
  • Asian markets mixed as investors awaited Chinese trade data.
  • Brent oil drops to $60/bbl on global growth worries. Read more.

Derivative Watch

Published on: 7:29 am

  • TCS was among the top index loser, tumbling ~2% in the trade on account of missing Q3FY19 margin. On the derivative front, TCS futures added fresh short positions while heavy call writing was seen in out of the money option strikes.
  • Nifty & Bank Nifty future saw a reduction in the open interest along with a fall in underlying price, indicating an unwinding of long positions.
  • On the Options front, short positions were created in the Nifty out-the-money call strikes with 11000CE witnessing a surge in the open interest to the tune of 6.5 lakh shares.
  • ICICI Pru & Torrent Pharma added fresh long positions.

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Disclaimer : All estimates (1 year forward) are based on Consensus View provided by Refinitiv.