Latest News and Updates

17th Jan, 2019

Nifty settles above 10,900 mark after volatile session

Published on: 3:32 pm

  • The Sensex ended higher by 53 points at 36,374, while Nifty rose 15 points at 10,905. The market breadth was negative with 655 shares advancing, 1,034 shares declining, and 375 remaining unchanged.
  • HCL Tech, Axis Bank, HDFC, TCS and M&M were the top gainers, while top losers were Sun Pharma, Yes Bank, SBI, Bajaj Finance and HUL on the Sensex.
  • Nifty and Bank Nifty out of the money call and put options saw short selling as the index traded in a narrow range throughout the day.

PSU Bank, Media stocks underperform in today’s session

Published on: 3:07 pm

  • PSU Banking stocks are underperforming in today’s session, down ~2%. Shares of IDBI Bank fell 3%, followed by Oriental Bank of Commerce, Union Bank, Bank of Baroda and SBI which were down over 1.5% each.
  • On the flip side, Indian Bank and Central Bank are in the positive zone.
  • Meanwhile, the Media index dropped 2.5% led by TV18 Broadcast, Zee, Dish TV, and Network 18. Read more

Sensex, Nifty trade flat; Axis Bank stock hits 52-week high

Published on: 2:44 pm

  • Equity benchmark indices were trading flat, with Sensex up 49 points at 36,371 and Nifty50 higher by 13 points at 10,904 mark.
  • The most active stocks are Jet Airways, Yes Bank, Mindtree, RIL, and Axis Bank.

China quietly cuts borrowing costs while keeping rates on hold

Published on: 1:33 pm

  • The People’s Bank of China (PBOC) has been quietly guiding interbank borrowing costs down without actually cutting official interest rates, with the latest move a record one-day injection of cash into the market.
  • The central bank pumped a net ¥1.14tn ($169bn) into the financial system through open-market operations so far this week, with Wednesday’s operation the biggest one-day addition on record. Read more

Sensex, Nifty erase gains; Federal Bank, SBI stocks decline

Published on: 1:30 pm

  • Equity benchmark indices erased gain in the afternoon session, with the Sensex down over 68 points at 36,252, while the Nifty fell 25 points at 10,865 mark. The market breadth was negative with 631 shares advancing, 1,003 shares declining, and 430 remaining unchanged.
  • HPCL, Infratel, and GAIL were the top gainers on the Nifty50, while Yes Bank, SBI, and ZEE were trading in the red.
  • Federal Bank stock slipped 4% after Q3FY19 numbers. The bank’s net profit rose 28% for the December quarter at Rs333.6cr from Rs260cr last year.

Federal Bank Ltd's Q3FY19 standalone net profit rises 28.3% yoy to Rs333.60cr: In-line with Estimate

Published on: 1:07 pm

  • Federal Bank's net interest income (NII) in Q3FY19 came in at Rs1,077cr, up 13.4% yoy vs Rs950cr reported in the same quarter of the previous fiscal. At Rs333.6cr, up 28.3% yoy against Rs260cr last year, the bank’s net profit in the quarter was in line with the consensus estimates. 
  • Net interest margin (NIM) for the quarter came at 3.17% as against 3.15% qoq and 3.3% yoy.
  • Federal Bank Ltd share price is currently at Rs89.55, down Rs1.85, or 2.02%, from its previous close of Rs91.40 on the BSE. Read more

Nifty hovers around 10,900 mark; Yes Bank, Jet Airways stocks slip

Published on: 12:14 pm

  • Equity benchmark indices were trading slightly higher on Thursday’s session led by financial and energy stocks. The Sensex rose 15 points at 36,336, while the Nifty is up 10 points at 10,900 levels.
  • The market breadth was positive with 847 shares advancing, 759 shares declining, and 457 remaining unchanged.
  • HPCL, GAIL, Infratel, M&M, and IOC were the top gainers on the Nifty50, while Yes Bank, SBI, ZEEITC, and Eicher were trading in the red. Read more

Zydus receives final USFDA approval for Acetazolamide ER capsules

Published on: 12:02 pm

  • Zydus Cadila has received the final approval from the US Food and Drug Administration (FDA) to market Acetazolamide ER Capsules (US RLD-Diamox). It will be manufactured at the group’s formulations manufacturing facility at Moraiya, Ahmedabad.
  • Cadila Healthcare Ltd share price is currently at Rs357, up Rs4.65, or 1.32%, from its previous close of Rs352.35 on the BSE. Read more

Mindtree gains 3% post Q3FY19 results

Published on: 11:59 am

  • Shares of Mindtree soared 3% after the IT consultancy company's reported revenue in USD terms came in at $251.5mn, up 2.1% qoq.
  • Revenue in Indian rupee terms grew 1.8% qoq to Rs1,787cr, lower than the median consensus estimate of Rs1,808cr. EBIT stood at Rs242cr, up 5.5% qoq, higher than the median consensus estimate of Rs240cr. EBIT margin expanded 48bps qoq to 13.6%. Read more

L&T Infotech agrees to buy Ruletronics UK; stock up 1%

Published on: 11:40 am

  • Shares of Larsen & Toubro (L&T) Infotech (LTI) rose 1% in morning trade on Thursday after the company signed a definitive agreement to acquire Ruletronics Ltd (UK), Ruletronics Systems Inc. (US), and Ruletronics Systems Pvt Ltd (India).
  • The IT consultancy company acquired Ruletronics for $7.48mn, including up-front consideration and earn-outs. The closing of the transaction is expected to get completed within eight weeks. Read more.

Baring PE Asia to acquire NIIT Technologies for Rs10,000cr

Published on: 11:37 am

  • Baring Private Equity Asia Ltd will acquire NIIT Technologies, a subsidiary of NIIT Ltd for a sum of Rs10,000cr, according to media reports.
  • The Hong Kong based private equity firm will first purchase a 30.58% stake. It may buy 30.58% share for Rs2,500cr, a person with knowledge of the development said.
  • NIIT Technologies Ltd is currently trading at Rs1,220.70 up by Rs12.25 or 1.01% from its previous closing of Rs1,208.45 on the BSE. Read more

Sensex, Nifty off day’s high; HPCL, Infratel stocks lead

Published on: 10:59 am

  • Equity benchmark erased morning gains as selling pressure were witnessed in capital goods, banking, industrial, and FMCG stocks.
  • Sensex up 50 88 points at 36,371, while the Nifty rose 14 points to 10,904.
  • HPCL, Infratel, and GAIL were the top gainers on the Nifty50, while Yes Bank, IndusInd Bank, and Eicher were trading in the red.
  • L&T Infotech stock gained 1% after the company has signed a definitive agreement to acquire Ruletronics Limited (UK), Ruletronics Systems Inc. (US) and Ruletronics Systems Private Limited (India).

Rupee gains 9 paise against US Dollar

Published on: 10:52 am

  • The Indian rupee strengthened after depreciating in the last four trading sessions. It opened higher at 71.15/$, up by 9 paise on the back of positive opening in domestic equities and weakening greenback in overseas markets.
  • Some selling in the American currency by banks and exporters, supported the rupee trade higher. The yields on the 10-year government bonds up 0.3% to 7.27% from its previous close of 7.25%. Read more

Asian stock markets up on Thursday

Published on: 10:31 am

  • Asian markets were trading higher after UK government led by Prime Minister Theresa May survived a vote of no-confidence. Hong Kong and Tokyo stocks eked out gains, while US and European futures slipped. Australia and South Korea's KOSPI up by 0.2% each, while Japan's Nikkei climbed 0.3%.
  • Meanwhile, oil traded lower, though US crude remained close to $52 a barrel. Palladium hit record highs thanks to increasing demand and lower supply of the metal used in auto catalysts. Read more

Bank of India to raise funds via preferential allotment of shares

Published on: 9:59 am

  • Bank of India announced on Wednesday evening via a regulatory filing that it was raising funds for an issue price of Rs105.75 per equity share (including a premium of Rs95.75 per equity share) in respect of preferential issue of shares for an amount of Rs10,086cr to Government of India.
  • The Bank will allot up to 95,37,58,865 fresh equity shares to the Government of India. Read more. 

Nifty above 10,900 mark; Reliance Industries stock up ahead of Q3 results

Published on: 9:17 am

  • Sensex gaining 88 points at 36,409. The Nifty rose 24 points to 10,914 led by HDFC, Reliance Industries, TCS, and M&M.
  • Indiabulls HF, JSW Steel, Infratel, Grasim, and HDFC were the top gainers on the Nifty50, while Bajaj Auto, UPL, Infosys, Hindalco, and HCL Tech were trading in the red.
  • Volatility index India VIX is up 0.87% to 16.21.

Motilal Oswal Financial Services Ltd's Q3FY19 consolidated net profit stood at Rs40cr vs. Rs5cr qoq

Published on: 9:10 am

  • Motilal Oswal Financial Services Ltd’s revenue declined by 20.1% yoy and 0.3% qoq to Rs648cr.
  • Revenue of broking business declined by 9.6% yoy and 7.6% qoq to Rs269cr. Read more.

ICICI Bank reappointed Vishakha Mulye as Executive Director for 2 years

Published on: 9:08 am

  • ICICI Bank has approved the re-appointment of Vishakha Mulye as Executive Director for a period of two years from January 19, 2019 to January 18, 2021.
  • The shareholders through postal ballot resolution passed on April 22, 2016 had already approved the appointment of Mulye for a period of five years effective from January 19, 2016 up to January 18, 2021, as per BSE filing. Read more.

RBI imposes penalty on Bank of Maharashtra

Published on: 8:59 am

  • The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs1cr on Bank of Maharashtra.
  • The fine was imposed by an order dated January 04, 2019 for non-compliance with Master Directions on Frauds-Classification and Reporting dated July 1, 2016 and Master Direction on Know Your Customer dated February 25, 2016 issued by RBI, according to RBI release. Read more. 

Results to watch out for - Reliance Industries, Hindustan Unilever, Federal Bank, L&T Tech

Published on: 8:40 am

  • Quarterly results that are expected today include Reliance Industries, Hindustan Unilever, Aditya Birla Money, AU Small Finance Bank, Cyient, Federal Bank, L&T Technology Services, Mangalam Organics, Mastek, Rallis India. Read more: 

Aviation Q3FY19 Results Preview – Lower fuel costs coupled with price discipline to help improve the

Published on: 8:40 am

  • We expect top three airline companies (IndiGo, Jet Airways and SpiceJet) on cumulative basis to report net loss for the Q3FY19.
  • However, barring Jet Airways, financial parameters for the remaining two are likely to improve on qoq basis primarily on the back of lower fuel costs. Read more. 

Share Market Update: Open interest Guide (January 17, 2019)

Published on: 8:30 am

  • Open interest is the total number of outstanding contracts that are held by market participants at any point in time.
  • It measures the total level of activity in futures and options market. Read more. 

Broker Radar for January 17

Published on: 8:18 am

Morgan Stanley maintained Underperform on Mindtree with a TP of Rs761
  • Q3 revenue slightly better than expectations and outlook for Q4 is good
  • Company indicated limited visibility into budgets for next year
  • Commentary on demand is constructive. Read more. 

SGX Nifty indicates flat start for Sensex, Nifty; Reliance Industries ahead of Q3 results

Published on: 8:12 am

  • SGX Nifty is at 10,950, up 25 points. For today, expect more colour on the upside with earnings from 'big boy' Reliance due after market, which could see speculative buying in anticipation of good results.
  • Asian indices opened in the green led by the Japanese Nikkei as globally equities seem the choice destination in early January. Read more

Top stocks in focus: Hindustan Unilever, Reliance Industries, Bank of Maharashtra, Jet Airways

Published on: 8:10 am

  • M&M said it has increased stake in its South Korean arm Ssangyong Motor Company to 74.65% with subscription of additional shares worth Rs316.5cr.
  • RBI imposed penalty of Rs1cr on Bank of Maharashtra due to deficiencies in regulatory compliances on fraud reporting and KYC norms. Read more. 

Bulk Deals

Published on: 7:53 am

  • TGB Banquets and Hotels: Abhishek Agarwal HUF sold 3.58 lakh shares of the company at Rs20.52 per share on the NSE and 2.40 lakh shares at Rs20.62 per share on the BSE.
  • LEEL Electricals: IndusInd Bank Client A/C sold 4.30 lakh shares of the company at Rs51.27 per share on the NSE.
  • Share India Securities: Nainesh Gunvantlal Jain bought 1.80 lakh shares of the company at Rs82.05 per share on the BSE.

FII and DII Data

Published on: 7:42 am

FII/DII Data: In yesterday’s trading session FIIs sold 90cr stock in the cash market whereas DIIs bought 304cr worth of stock. In the derivative market, FIIs sold 818cr of Index futures and bought 365cr worth of Index options. In the Stock futures segment, FIIs bought 171cr worth of stock futures and sold 44cr stock options.

FII View: FIIs created bearish positions in the Index Futures in yesterday’s trading session which is deduced by the fact that they created 12,106 net short contracts in the segment, however considering the volatility in the market they also considering hedging their positions to an extent by purchasing 3,734 long contracts in Index Call options.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 227 4 54 0.9 0.9
Index Short 252 9 74
Index Call Long 211 2 59 3.1 0.8
Index Call Short 67 (1) 104
Index Put Long 393 3 75 2.5 0.7
Index Put Short 155 7 153

What not to miss today

Published on: 7:38 am

-Markets to open slightly higher; RIL Q3 results eyed
-Nifty support @10840, resistance 10970.
-FIIs sold 90cr (cash), 818cr in Index Futures.
-US, Asian markets in green.    
-Rupee falls for 4th day to $71.24/$. Read more

Derivative Watch

Published on: 7:21 am

  • Markets ended yesterday's trade on a lacklustre note with benchmark index closing flat.
  • Nifty future has mainly added long positions since the start of the January series, indicating an upward momentum upto the 11,000 mark.
  • Moreover, Nifty 11,000CE has also shed open positions to the tune of ~20% in the last two trading sessions, indicating a short covering in out of the money call option strikes 

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