Latest news and updates

16th Jan, 2019

Reliance Industries Q3FY19 Result Expectation

Published on: 3:50 pm

Consensus estimates for Q3FY19E:
  • Net Revenue – Rs1,39,300cr, up ~40% yoy, supported by strong petchem volumes and traction in retail segment.
  • EBITDA – Rs20,382cr, up by ~16% yoy.
  • PAT – Rs9,523cr, up by ~1% yoy. Read more. 

DCB Bank Ltd's Q3FY19 standalone net profit rises 51% yoy to Rs86.10cr : In-line with Estimates

Published on: 3:35 pm

  • DCB Bank’s Q3FY19 NII has improved by 17.2% yoy to Rs293.6cr against Rs 250.5 cr yoy.
  • It’s net profit was in-line with the estimates, which has improved by 51% yoy to Rs86.1cr against Rs57cr yoy. Read more. 

Sensex, Nifty end flat after a volatile session; Yes Bank, Wipro stocks gain

Published on: 3:33 pm

  • Equity benchmark indices ended flat after volatile session in today’s trade. Selling pressure were seen in HDFC twins, ITC, HUL, and Kotak Mahindra Bank.
  • Sensex ended marginally up 3 points at 36,321, while the Nifty50 rose 4 points at 10,890. The market breadth was positive with 828 shares advancing, 861 shares declining, and 374 remaining unchanged.
  • Indiabulls HF, Yes Bank, Wipro, and IndusInd Bank were the top gainers on the Nifty, while JSW Steel, Infratel, Bajaj Finance, and UPL were the top losers.

Indiabulls Integrated spurts 5% on R1 acceptance from IRDAI for life insurance biz

Published on: 2:40 pm

  • Shares of Indiabulls Integrated Services spurted 5% on Wednesday after the company received R1 acceptance from the insurance regulator for its life insurance business.
  • "The company is in the process of putting the necessary systems in place and move ahead with the next step of filing its application for registration (R2) with IRDAI to undertake a life insurance business in India," Indiabulls Integrated said in a press note after market hours to the exchanges on Tuesday. Read more. 

Sensex, Nifty trade flat; PSU Bank stocks lead

Published on: 1:48 pm

  • Equity benchmark indices are trading volatile amid mixed global cues.
  • The stock market erased intraday gains and sinked in the negative zone in mid-morning trade. Read more. 

EU expresses horror at Brexit vote, refuses to reopen deal

Published on: 1:43 pm

  • The European Union (EU) said it was horrified by the massive scale of the UK Parliament defeat of the Brexit deal agreed with Prime Minister Theresa May but said there was no option to renegotiate.
  • Diplomats said they were stunned by the extent of the loss. Read more. 

Texmaco Rail gains 1% on winning order worth Rs262cr

Published on: 1:40 pm

  • Texmaco Rail has received an award of order valuing Rs110cr. The award is for the design, manufacture, supply, installation, testing, and commissioning of automatic fare collection system (AFC) from Mumbai Metro Rail Corporation.
  • The Infra company made the announcement in a regulary filing on Wednesday during trading hours. Read more. 

Phillips Carbon Black Ltd's Q3FY19 standalone net profit rises 92% yoy to Rs109cr : Beats Estimates

Published on: 1:35 pm

  • Phillips Carbon Black Limited (PCBL) reported better than expected numbers for Q3FY19. Standalone revenue was up 54% yoy (7% qoq) at Rs946cr, higher than consensus expectation of Rs860cr.
  • EBITDA came in 65% yoy higher (2% qoq lower) at Rs172cr, in-line with expectations. Read more. 

Shrimp stocks advance on surge in US exports

Published on: 1:25 pm

  • Shares of shrimp exporting companies climbed on Wednesday after a report that India’s shrimp exports to the US rose in terms of volume and value in October 2018.
  • Accordingly, shares of Godrej Agrovet jumped 4%, while those of Avanti Feeds rose 3%. Waterbase and Apex Frozen Foods also gained 2% each. Read more. 

Asian Granito Tiles rallies 8% after stake sale

Published on: 1:11 pm

  • Shares of Asian Granito India rallied over 8% on the BSE in Wednesday’s trade even as GMO Emerging DOM Opportunities FD sold 3.21 lakh shares of the company at Rs130.09 per share on the BSE.
  • Further, the company said in the regulatory filing that it will not proceed with the formalities of a preferential issue. Read more. 

UK leads Europe’s car market to slip first time in five years

Published on: 1:10 pm

  • Annual car sales in Europe dropped for the first time since 2013, led by a sagging UK market where concerns over Brexit turned off consumers -- and have only intensified as politicians argue over the path to the divorce.
  • Passenger-car registrations dropped 0.04% to 15.6mn vehicles in the European Union and European Free Trade Association, according to the European Automobile Manufacturers Association. Read more. 

Suven Life secures product patents in Australia, Singapore; Stock up 2%

Published on: 11:30 am

  • Suven Life Sciences Ltd said that it has been granted a product patent from Australia and Singapore each for the treatment of disorders associated with Neurodegenerative diseases.
  • These product patents are valid through 2036 respectively. Read more. 

Sensex, Nifty off day’s high; UPL, Tech Mahindra stocks decline

Published on: 10:46 am

  • Equity benchmark indices erased early morning gains led by FMCG, IT, pharma, and metal stocks. Sensex up 65 points at 36,393, while the Nifty50 rose 17 points at 10,904.
  • The market breadth was positive with 967 shares advancing, 596 shares declining, and 496 remaining unchanged.

KPIT Tech declines 4% post Q3FY19 numbers

Published on: 10:15 am

  • KPIT Technologies' shares were trading 4% down on Wednesday after the company reported a lower-than-expected set of numbers for Q3FY19 on all fronts.
  • Revenue during the quarter declined by 1.6% qoq to Rs1,061cr against the median consensus estimate of Rs1,108cr. Read more. 

LIC reduces stake in Colgative Palmolive to 2%

Published on: 9:55 am

  • Government-owned LIC corporation has reduced its shareholding in FMCG major Colgate-Palmolive (India) Ltd by over 2% by selling 55.18 lakh shares in the open market.
  • LIC, which had 7.03% stake in Colgate-Palmolive earlier, trimmed its shareholding in the Insurance company to 5% between November 1, 2017, and January 14, 2019. Read more. 

Nifty reclaims 10,900 mark; Media, banking stocks rally

Published on: 9:40 am

  • Equity benchmark indices opened higher for the second consecutive session, with the Sensex gaining 131 points at 36,449.
  • The Nifty rose 39 points to 10,926 led by Reliance Industries, ICICI Bank, Infosys, Axis Bank, and SBI. Read more. 

KPIT Technologies Ltd's Q3FY19 consolidated net profit declines 22% qoq to Rs64cr: Misses Estimates

Published on: 9:35 am

  • KPIT Technologies reported lower-than-expected set of numbers for Q3FY19 on all fronts.
  • Revenue during the quarter declined by 1.6% qoq to Rs1,061cr against the median consensus estimate of Rs1,108cr. Read more. 

Nifty above 10,900 mark; Zee, Vedanta stocks gain

Published on: 9:20 am

  • Equity benchmark indices opened higher for second consecutive session, with the Sensex gained 131 points at 36,449. The Nifty rose 39 points at 10,926 led by Reliance Industries, ICICI Bank, Infosys, Axis Bank, and SBI.
  • On the sectoral front, FMCG, IT and pharma indices fell, while media, banking, auto, realty and metal surged in today’s trade.
  • Zee, Indiabulls HF, Grasim, IndusInd Bank, and Infratel were the top gainers on the Nifty50, while UPL, Tech Mahindra, TCS, ITC, JSW Steel were trading in the red.

Watch Sun Pharma over new whistle-blower complaint

Published on: 8:53 am

  • As per the news sources, a whistle-blower has filed a second complaint against Sun Pharma to the Securities and Exchange Board of India (SEBI).
  • Earlier, the same whistle-blower had complained to the SEBI over the Ranbaxy insider trading case. Read more. 

Britain parliament voted against PM Theresa May’s Brexit plan: Media reports

Published on: 8:51 am

  • Prime Minister Theresa May's Brexit deal has been rejected by 230 votes on Tuesday, as per media reports.
  • MPs voted by 432 votes to 202 to reject the deal, which sets out the terms of Britain's exit from the EU on 29 March, the report added. Read more. 

SKF India announces record date for buyback of shares

Published on: 8:40 am

  • SKF India in its press note to the exchanges informed that the buyback opening date has been fixed as January 23 and the closing date has been fixed as February 5, 2019.
  • The announcement made after market hours on Tuesday. Read more. 

Rakesh Jhunjhunwala reduces stake in DHFL by 0.73% to 2.46%

Published on: 8:40 am

  • Ace investor Rakesh Jhunjhunwala has reduced his stakes in DHFL by 0.73% to 2.46%.
  • Jhunjhunwala sold 22.7 lakh shares aggregating to Rs51cr as per current market price from the last quarter ending September 2018. Read more. 

Dr Reddy’s receives Form 483 observations from USFDA for AP

Published on: 8:27 am

  • Dr. Reddy’s in its filing to the exchanges informed that the USFDA has issued four Form 483 observations for Formulations Srikakulum Plant (SEZ) Unit I at Andhra Pradesh.
  • Forms were issued after completion of an audit of the plant on January 15, the company said in a press note after market hours to the exchanges on Tuesday. Read more. 

SGX Nifty indicates subdued start for markets

Published on: 8:18 am

  • SGX Nifty is at 10923,  down 20 points. For today, we expect consolidation in large caps, while the broader market outperforms with mid-caps seeing strong buying.
  • Nifty saw a quiet start turn into the big rally ending up 150 points as heavyweight stocks led the rally. Reliance, Infosys, and HDFC twins saw a huge buying from foreign investors, which saw the sentiment improve dramatically and even the mid-caps joined the party. Read more.

Top stocks in focus: DHFL, Dr. Reddy’s, KPIT Tech, Mindtree

Published on: 7:54 am

  • DHFL stock in focus today. Rakesh Jhunjhunwala reduces his stake in the company by 0.73% to 2.46%. Jhunjhunwala sold 22.7 lakh shares aggregating to Rs51cr as per current market price from the last quarter ending September 2018.
  • Dr. Reddy’s Laboratories received four Form 483 observations from USFDA inspection on formulations plant in Andhra Pradesh. Read more. 

What not to miss today

Published on: 7:50 am

  • Markets to open down; Nifty support @10777, resistance 10940.
  • FIIs purchased 159 cr (cash), 1153 cr in Index Futures.
  • Dow rises over 100 points led by tech stocks; Asian shares mixed
  • Netflix shares rise 6.5% on news of hiking monthly tariff.
  • Britain parliament voted against PM Theresa May’s Brexit plan. Read more.

Broker Radar for January 16

Published on: 7:44 am

  • Positives: opportunity size, improvement in operations, persistency and margins.
  • Negatives: cyclicality, reliance on intermediaries, regulatory and tax rate roadblocks. Read more. 

FII and DII Data

Published on: 7:37 am

FII/DII Data: In Tuesday’s session, FIIs bought Rs160cr worth of stock in the cash market, whereas DIIs bought Rs417cr worth of stock. In the index futures segment, FIIs bought Rs1153cr worth of shares, and bought Rs194cr worth of shares in the index options segment. FIIs also bought stock futures and stock options worth Rs595cr and Rs208cr, respectively.

FII View: FIIs created bullish positions in the derivative segment in yesterday’s trading session which is deduced by the fact that they created 15,003 net long contracts in Index Futures while simultaneously creating 5,503 long contracts in Index Call Options.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 218 10 48 0.9 0.9
Index Short 231 2 60
Index Call Long 207 3 56 3.1 0.8
Index Call Short 68 2 106
Index Put Long 383 1 70 2.6 0.7
Index Put Short 145 3 137

Bulk Deals

Published on: 7:28 am

  • Pitti Engineering: Bank of Baroda sold 2.25 lakh shares of the company at Rs61.67 per share while Satish Kumar Agarwal purchased 1.59 lakh shares at Rs62.16 per share on the NSE.
  • Asian Granito India: GMO Emerging DOM Opportunities FD sold 3.21 lakh shares of the company at Rs130.09 per share on the BSE.

Derivative Watch

Published on: 7:22 am

  • IT stocks shimmered as major heavyweights like Infosys and TCS posted a stellar show, gaining ~4%/3% with an addition of fresh long positions.
  • Stocks like Torrent Power & Tech Mahindra saw short covering, while DCB & Godfrey Phillips added massive long positions. Nifty Pharma was the stand out performer in today’s trade managing to end the session 0.53% higher.
  • Nifty & Bank Nifty index saw marginal addition of long positions as open interest soared higher with a rise in underlying price.
  • On the Options front, long positions were created in Bank Nifty out-the-money 27600CE.

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

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