Latest update and news

15th Jan, 2019

Nifty settles at 10,886, up 149 points; Sensex ends 465 points higher

Published on: 3:44 pm

  • Equity benchmark indices ended Tuesday on a positive note with Sensex gaining 465 points at 36,318 levels. Nifty also rose 149 points to close at 10,886 levels, inches away from its key level of 10,900.
  • All sectoral indices ended on a positive note on the NSE with Nifty IT index gaining 3%, while Realty and Metal indices rose 2% each.
  • Among shares, Wipro, Yes Bank, Tech Mahindra, Infosys, and RIL were the biggest gainers, while Maruti, Power Grid, ICICI Bank, and Infratel lost the most.
  • Market breadth was positive on the NSE with 1,081 shares advancing, 611 shares declining, and 369 remaining unchanged.

German growth at five-year-low as industry slumps

Published on: 3:32 pm

  • Germany’s economy expanded at the slowest pace in five years in 2018, after slumping global demand and huge disruption in the car industry exposed vulnerabilities in Europe’s growth engine.
  • Gross domestic product rose 1.5% after a gain of 2.2% in 2017, in line with economist estimates. Read more. 

Trident gains 5% post Q3FY19 numbers

Published on: 3:30 pm

  • Shares of Trident gained 5% on Tuesday after its net profit in the third quarter of FY19 spurted 53.6% yoy to Rs112.1cr.
  • Further, the company’s revenue rose 18% yoy at Rs1,291cr compared to Rs1,094cr. EBITDA also rose 21.4% yoy to Rs242.6cr compared to Rs199.9cr, while margins stood at 18.8% vs. 18.3%. Read more. 

Subdued inflation signals RBI monetary policy U-turn

Published on: 3:13 pm

  • India’s headline inflation edging toward the lower end of the central bank’s target band has opened the door to interest-rate cuts in the coming months.
  • While rate swaps show investors are pricing no change in the benchmark repurchase rate for the next 12 months, the Reserve Bank of India (RBI) may be forced to jettison its hawkish stance adopted five months ago for an easing bias. Read more. 

Foseco India to consider voluntary delisting proposal; stock spurts 20%

Published on: 3:08 pm

  • Shares of Foseco India were spurted 20% on Tuesday after the company in its filing to the exchanges informed that its board will consider the proposal of voluntary delisting of shares from the BSE.
  • "The company’s board in a meeting scheduled on February 25, 2019, will consider, approve, and take on record the audited financial results of the company for the quarter and year ended December 31, 2018, and also to consider, if thought fit, to recommend the final dividend for the financial year ended December 31, 2018," the company said in a press note to the exchanges on Tuesday. Read more. 

R System gains ~3% as board approves buyback proposal

Published on: 2:59 pm

  • Shares of R System were trading ~3% higher on Tuesday after its board approved the proposal to buyback 37 lakh shares.
  • Accordingly, the company will buy 37 lakh shares at Rs65/share for total consideration of Rs23.90cr via the tender route, R System said in a press note to the exchanges on Tuesday. Read more. 

Nifty IT index climbs ~3% on rupee weakness

Published on: 2:14 pm

  • The Nifty IT index was trading ~3% higher on Tuesday as the rupee reclaimed the 70-mark. Shares of InfibeamWiproInfosysTech Mahindra, and TCS led the index’s gain.
  • The Indian rupee touched the key level of 71 against the greenback on Tuesday compared to its previous close of 70.93/$. Notably, the currency opened 16 paise higher at 70.77 against the dollar compared to its previous close of 70.93/$.
  • At 1:40 PM IST, the domestic currency was trading at 71.08/$.  Read more.

Zee Entertainment rises 2% ahead of Q3FY19 results

Published on: 2:06 pm

  • Shares of Zee Entertainment rose as much as +1.96% to Rs463.25 ahead of its December quarter earnings.
  • Here is what to expect from Essel Group’s television channel operator in the December quarter. Read more. 

Stocks jump as China plans tax cut; pound edges up

Published on: 1:58 pm

  • Stocks rallied across Europe and Asia and US futures jumped on signs China is stepping up efforts to combat an economic slowdown.
  • The pound edged up as UK politicians prepared for a crunch vote on Brexit. Read more. 

May likely to face worst government defeat in 95 years in Brexit vote

Published on: 1:50 pm

  • Prime Minister Theresa May is set to see her Brexit deal rejected in the biggest Parliamentary defeat for a British government in 95 years after her the last minute pleas for support appeared to fall on deaf ears. The battle now is over not whether May loses, but how badly.
  • At least 70 of her Conservative Party, as well as some allies in the Democratic Unionist Party, are publicly pledged to join opposition Members of Parliament in voting against her agreement on Tuesday.
  • That would translate into a defeat by a margin of 150 or more, the largest in over a century. Even if some abstain, a defeat by more than 100 would be the worst since 1924. Read more.

Jet Airways may finalize resolution plan: Reports

Published on: 12:24 pm

Shares of Jet Airways were trading 4% higher on Tuesday after media reports suggested that the company is close to finalizing a resolution plan.
As per reports, after the implementation of the resolution plan, banks may increase equity as a part of the restructuring plan.
On Monday, media reports had claimed that Etihad Airways PJSC has agreed to lead the rescue of the cash-strapped airline operator in a move that will see the Abu Dhabi-based carrier double its stake in Jet Airways to 49%. Read more.

Agri-Inputs Q3FY19 Result Preview: Export market to offset subdued domestic scenario

Published on: 12:15 pm

  • Domestic agrochemical players are likely to report subdued earnings for the quarter on account of decline in rabi acreage (down ~5% yoy) and below average rainfall (~44% below).
  • Further, below average kharif season has also led to decline in the farm income across various states. Agro-players with global presence and export revenues in areas like Latin America (LatAm) are expected to witness higher volumes backed by filling up channel inventory. Read more.

ICICI Securities loses 4% post disappointing Q3FY19 results

Published on: 11:52 am

  • Shares of ICICI Securities slipped 4% in intraday trade on Tuesday after the company posted weak number for the quarter ended December 2018.
  • ICICI SecuritiesLtd’s revenue declined by 18% yoy and 11.6% qoq to Rs405cr. EBITDA came in at Rs170cr, down 32.2% yoy and 23.3% qoq. Read more.

United Spirits gains 1% on selling subsidiary for Rs31.86cr

Published on: 11:30 am

  • Shares of United Spirits advanced 1% in intraday day trade on Tuesday as the company has entered into an agreement for sale of all the equity shares held by the company, constituting 100% of the paid-up equity share capital of its wholly owned subsidiary, Four Seasons Wines ("FSWL") along with the brands.
  • The shares are being sold to Quintela Assets Limited and Grover Zampa Vineyards Limited for a total consideration of Rs31.86cr. The company made the announcement on Tuesday morning in a press note released to the exchanges. Read more. 

Rupee reclaims 71-mark; trades at 70.91/$

Updated on: 11:20 am

Published on: 11:55 am

  • The Indian rupee has reclaimed the key level of 71 against the greenback on Tuesday compared to its previous close of 70.93/$.
  • Notably, the currency opened 16 paise higher at 70.77 against the dollar compared to its previous close of 70.93/$. At 11:10 AM IST, the domestic currency was trading at 70.91/$. Read more.

Sensex up 300 pts, Nifty above 10,800-mark; Wipro gains 2%

Published on: 10:05 am

L&T Hydrocarbon consortium wins EPCI contract from Saudi Aramco

Published on: 10:00 am

  • Shares of Larsen & Tourbo gained 1% in early morning trade on Tuesday. L&T Hydrocarbon Engineering ("LTHE"), a wholly-owned subsidiary of Larsen & Toubro, in consortium with Subsea 7 has won an award for two projects from Saudi Aramco.
  • The award consists of engineering, procurement, construction, and installation (EPCI) of three oil production deck manifolds and Subsea Pipelines in the Zuluf and Berri fields of Saudi Aramco. Read more. 

Nifty, Sensex open in the green

Published on: 9:26 am

  • Equity benchmark indices opened in the green with Sensex started Tuesday gaining 159 points at 36,012 levels. Nifty also gained 48 points at 10,785 levels.
  • Among shares, Wipro, Zee Entertainment Enterprises, Infosys, and IndusInd Bank were the biggest gainers on the NSE. Conversely, HCL Tech, GAIL, Bharti Airtel, and JSW Steel lost the most.
  • Market breadth was positive on the NSE with 967 shares advancing, 472 shares declining, while 583 shares remaining unchanged.

RBI imposes penalty of Rs1cr on Bajaj Finance

Published on: 9:08 am

  • The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs1cr on Bajaj Finance due to regulatory compliance issues, the central bank said in a press release on Monday.
  • "This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the NBFC with its customers," the central bank said in a press note. Read more. 

Wipro board to consider proposal of issue of bonus shares on Jan 17-18

Published on: 9:02 am

  • Wipro in its filing to the exchanges informed that its board in a meeting on January 17-18 will consider a proposal for issue of bonus shares.
  • The board will also consider the condensed audited standalone and consolidated financial results for the quarter ended December 31, 2018, and declaration of interim dividend, if any, for the financial year 2018-19, the company said in a press note after market hours to the exchanges on Monday. Read more. 

Current FII data

Published on: 8:40 am

FII/DII Data: In yesterday’s trading session, FIIs sold 732cr stock in the cash market, whereas DIIs bought 527cr worth of stock. In the derivative market, FIIs sold 989cr of Index futures and bought 20cr worth of Index options. In the Stock futures segment, FIIs bought 558cr worth of stock futures and bought 86cr stock options.

FII View: FIIs created bearish positions in the derivative segment in yesterday’s trading session, which is deduced by the fact that they created 13143 net short contracts in Index Futures, while simultaneously creating 3,306 net long contracts in Index Put Options.

 FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 198 0 34 0.9 0.9
Index Short 226 6 56
Index Call Long 202 1 52 3.0 0.7
Index Call Short 67 4 103
Index Put Long 379 4 69 2.7 0.7
Index Put Short 142 10 131

Tata Power says Resurgent has undergone internal restructuring

Published on: 8:39 am

  • Tata Power, India’s largest integrated power company, announced that the shareholding of Resurgent Power Ventures Pte Ltd, Singapore has undergone a change with Power Platform (a wholly owned subsidiary of State General Reserve Fund, Oman) and Kuwait Investment Authority together buying out the shares of CDP Groupe Infrastructures Inc. (a wholly-owned subsidiary of Caisse de dépôt et placement du Québec).
  • Resurgent Power is a joint venture based out of Singapore and 26% is held by Tata Power through its wholly owned Singapore based subsidiary. Read more. 

Bulk deal

Published on: 8:38 am

  • Ajooni Biotech: Prism Medico and Pharmacy sold 48,000 shares of the company at Rs29 a share on the NSE.
  • InfoBeans Techno: Maven India Fund sold 1lakh  shares of the company at Rs65.52 a share on the NSE.
  • PG Electroplast: Ashit Mahendra Mehta sold 92,479 shares of the company at Rs109.9 a share on the NSE.

Share Market Update: 3 Stocks that can give strong returns on the signs of bottom formation

Published on: 8:30 am

  • Candlesticks are the most popular chart choice among traders as compared to line chart, bar chart and the point & figure chart.
  • It has gained popularity among the traders as it conveys a wide range of trading information in one go in a highly visual way. Read more. 

Asian stock markets gain on Tuesday

Published on: 8:27 am

  • Asian stock markets rose on Tuesday, with Japanese stocks being up and the Nikkei 225 index rising 0.57%.
  • Chinese indexes are opening firmly into the upside, with Hong Kong's Hang Seng index climbing 0.91%, while Shanghai's CSI 300 clips higher by 0.30%, and Australia's ASX 200 is also up 0.45% for the day. Read more. 

ICICI Bank appoints B Sriram, Rama Bijapurkar as additional independent directors

Published on: 8:27 am

  • ICICI Bank, in its filing to the exchanges informed that its board has approved the appointment of B. Sriram and Rama Bijapurkar as additional (independent) directors of the bank with effect from January 14, 2019, for a period of 5 years.
  • The appointment is subject to the approval of shareholders, the bank informed in a press note after market hours to the exchanges on Monday. Read more. 

SGX Nifty indicates a positive opening for the Indian markets

Published on: 8:07 am

  • SGX Nifty opens at 10,813, up 44 points.
  • For today, expect pull back in most Asian indices as investors buy equities with valuations cheapest in last 3 years. Read more. 

Broker Radar for January 15

Published on: 7:57 am

CLSA Maintained ‘Buy’ on ICICI Securities; cut TP to Rs360 from Rs380.
  • Weak markets and tighter norms on mutual fund fees drag profits; cut earnings forecast.
  • Growth in active client base has also moderated.
  • Valuations reasonable; trades at par with global peers. Read more. 

Top stocks in focus: Zee, Airtel, Wipro, Tata Power

Published on: 7:57 am

  • Bharti Airtel said that it had paid its due to Aircel Group companies on January 10, after the Supreme Court passed orders to the effect that bank guarantees worth Rs453cr shall stand cancelled.
  • Tata Power said that its Singapore-based Resurgent Power had undergone internal restructuring but shareholding of Tata Power’s arm in the power company has remained the same at 26%. Read more. 

What not to miss today

Published on: 7:51 am

  • Markets to open higher; Nifty support @10700, resistance 10870.
  • FIIs sold 732cr (cash), 989cr in Index futures.
  • US, Asian shares down amid Q3FY19 earnings woes.
  • Britain’s parliament to vote on PM Theresa May’s Brexit deal today.
  • CPI further softens to 2.19% yoy in Dec vs. 2.33% in Nov. Read more.

Derivative Watch

Published on: 7:36 am

  • Market breadth ended in the favour of declines as ~80% of Nifty stocks ended in the red.
  • Nifty, Bank Nifty, and NiftyIT index saw marginal addition of short positions as open interest soared higher with the declining underlying price.
  • Bank Nifty January 17, 2019 expiry, 27500PE saw heavy short covering as the put option writers ran for cover.
  • Castrol & NIIT Tech added fresh long positions.

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