Latest news and updates

18th Jan, 2019

Sensex, Nifty end flat; Reliance Industries, Wipro stocks lead

Published on: 3:34 pm

  • Equity benchmark indices ended on a flat note, with the Nifty settles above 10,910 mark, up 2 points. The Sensex rose 13 points at 36,387.
  • Heavy selling pressure were seen in pharma, PSU bank, Infra, FMCG and auto, while energy and IT stocks witnessed some buying.
  • Reliance Industries, Wipro, and Kotak Mahindra Bank were among major gainers, while Sun Pharma, Bharti Airtel, and GAIL are the top losers.

Larsen & Toubro Infotech Ltd's Q3FY19 consolidated net profit declines 6.2% qoq to Rs376cr : Bea

Published on: 2:59 pm

  • Larsen and Toubro Infotech Ltd’s revenue grew by 6.1% qoq to Rs2,473cr.
  • EBIT came in at Rs473cr, up 7% qoq. Read more. 

GE Shipping enters contract to sell its very large gas carrier

Published on: 2:40 pm

  • The Great Eastern Shipping Company Ltd. (GE Shipping) has entered into a contract to sell its 1994 built very large gas carrier Jag Vishnu of about 49,353 deadweight tonnage (DWT).
  • The vessel will be delivered to the new buyer in H1FY20. Read more. 

Atul rises ~2% on strong Q3 numbers

Published on: 2:15 pm

  • Shares of Atul Ltd went up ~2% in intraday trade on Friday as the company posted robust Q3FY19 numbers.
  • Atul Ltd's Q3FY19 revenue came in at Rs1,019.49cr, an increase by 26.9% yoy. Read more. 

Rallis India stock plunges 6% after PAT decline in Q3FY19

Published on: 2:10 pm

  • Shares of Rallis India plunged 6% on the BSE as the company’s revenue, EBITDA, and net profit missed the estimate. The company’s consolidated revenue came in at Rs417.35cr, up 7% yoy.
  • The operating profit declined 26.9% yoy to Rs27.63cr in Q3FY19. The adjusted consolidated net profit (attributable to shareholders) of the company for Q3FY19 stood at Rs13.88cr which is down 44.7% yoy. Read more

Nifty hovers around 10,900 mark; Metal, media stocks drag

Published on: 2:06 pm

  • Equity benchmark indices were trading lower in the afternoon session on Friday’s trade.
  • The Sensex rose 18 points at 36,392, while the Nifty up 3 points at 10,908 levels. The market breadth was negative with 544 shares advancing, 1,111 shares declining, and 403 remaining unchanged.
  • Reliance Industries, Wipro, Kotak Mahindra Bank, and ONGC are the top gainers, while Sun Pharma, Infratel, GAIL, and HPCL were the top losers on the Nifty50.

Atul Ltd's Q3FY19 standalone net profit rises 77.13% yoy to Rs116.89cr

Published on: 1:46 pm

  • Atul Ltd's Q3FY19 revenue came in at Rs1,019.49cr, an increase by 26.9% yoy. The operating profit in Q3FY19 came in at Rs211.44cr, a substantial increase by 67.7% yoy.
  • The Q3FY19 EBITDA margin expanded significantly by ~505bps yoy to 20.7%. The net profit after tax stood at Rs116.89cr, an increase by 77.1% yoy. The revenue and net profit are in-line with estimates. However, the EBITDA beat the estimate of Rs193cr by 10%. Read more

Surya Roshni wins Rs45.67cr contract

Published on: 1:20 pm

  • Surya Roshni Ltd has won a contract worth Rs45.67cr from the Energy Efficiency Services, a joint venture (JV) of PSUs under the Union Ministry of Power, the company said in a filing on Friday morning. Despite the news, shares of the company were trading flat in intraday trade on the day.
  • The scope of the work involved the design, manufacture, supply, testing, and warranty of 1.82 lakh LED street lights. Read more

Shilpa Medicare gets USFDA nod for Imatinib Mesylate

Published on: 1:08 pm

  • Shilpa Medicare has received USFDA approval for its abbreviated new drug application (ANDA) Imatinib Mesylate tablets (100mg and 400mg).
  • According to IQVIA MAT Q2 2018 data, the US market for Imatinib Mesylate Tablets (100mg and 400mg) is approximately $885mn.
  • Shilpa Medicare Ltd share price is currently at Rs399.60, up Rs4.5, or 1.14%, from its previous close of Rs395.10 on the BSE. Read more

Shilpa Medicare gets USFDA nod for Imatinib Mesylate

Published on: 12:30 pm

  • Shilpa Medicare has received USFDA approval for its abbreviated new drug application (ANDA) Imatinib Mesylate tablets (100mg and 400mg).
  • According to IQVIA MAT Q2 2018 data, the US market for Imatinib Mesylate Tablets (100mg and 400mg) is approximately $885mn. Read more. 

Sensex, Nifty trade lower; Wipro, Reliance Industries stocks gain

Published on: 12:19 pm

  • Equity benchmark indices were trading lower on Friday’s session led by pharma and media stocks.
  • The Sensex slipped 86 points at 36,287, while the Nifty dropped 30 points at 10,875 levels. The market breadth was negative with 533 shares advancing, 1,080 shares declining, and 442 remaining unchanged.
  • Wipro, Reliance Industries, Kotak Mahindra and ONGC gained in the range of 2-1% respectively on the Nifty50.

Sun Pharma drags Nifty Pharma by ~3%

Published on: 11:20 am

  • Selling was seen across the pharma space as the day progressed – Sun Pharma plunged 10% to Rs382.
  • The Nifty Phama index was trading ~3% lower in Friday's morning session. Read more. 

Cyient slips 4.5% after Q3 PAT misses estimates

Published on: 10:43 am

  • Shares of Cyient extended their decline in morning trade on Friday on the BSE after the IT consulting company reported a mixed set of numbers for Q3FY19.
  • Cyient's revenue in rupee terms grew 0.1% qoq to Rs1,188cr, lower than the median consensus estimates of Rs1,209cr. Read more. 

Sensex, Nifty trade volatile; Pharma stocks decline 2%

Published on: 9:53 am

  • Equity benchmark indices opened in positive territory on Friday, tracking positive global cues. However, the market pared gains post opening due to losses in pharma, media, banking, IT, and FMCG stocks.
  • The Sensex slipped 44 points at 36,330, while the Nifty dropped 24 points at 10,881 levels. The market breadth was negative with 511 shares advancing, 962 shares declining, and 563 remaining unchanged.

Nifty slips below 10,900 mark; Sun Pharma stock declines 10%

Published on: 9:53 am

  • Equity benchmark indices opened in positive territory on Friday, tracking positive global cues.
  • However, the market pared gains post opening due to losses in pharma, media, banking, IT, and FMCG stocks. Read more. 

Suyog Telematics gets license to install cellular equipment in monorail stations

Published on: 9:50 am

  • Suyog Telematics has successfully obtained license from Mumbai Metropolitan Region Development Authority (MMRDA) for installation of cellular equipment across all 17 monorail stations of Mumbai.
  • The monorail stations chosen are Chembur, VNP & RC Marg Junction, Fertiliser Township, Bharat Petroleum, Mysore colony, Bhakti park, Wadala Depot, GTB Nagar, Antop Hill, Acharya Atre Nagar, Wadala Bridge, Dadar, Naigaon, Ambedkar Nagar, Mint Colony, Lower PareI, Gadge Maharaj chawk, and selected 200 piers along Monorail corridor. Read more. 

Reliance Industries gains 1% after Q3 net profit beats estimate

Published on: 9:47 am

  • Reliance Industries stock gained 1% on both the indices after the company posted Q3FY19 numbers and beat the consensus estimates on all fronts.
  • The company’s net profit for the quarter grew 8.8% yoy to Rs10,251cr against Rs9,420cr last year, beating the estimate of Rs9,523cr. Read more. 

Bajaj Holdings and Investment acquires stake in Maharashtra scooters

Published on: 9:20 am

  • Bajaj Holdings and Investment Ltd informed in an exchange filing on Thursday evening, post market hours that it will acquire 27% shareholding in Maharashtra Scooters Limited held by Western Maharashtra Development Corporation Limited (WMDC).
  • The shares would be acquired at a price of Rs232 per share. Read more. 

Reliance Industries Ltd's Q3FY19 consolidated net profit rises 8.8% yoy to Rs10,251cr

Published on: 8:26 am

  • Reliance Industries Ltd's numbers in Q3FY19 beat the consensus estimates on all fronts. Revenue grew 55.9% yoy to Rs1,71,336cr against Rs1,09,905cr in Q3FY18.
  • EBITDA for the quarter grew 20% yoy to Rs23,801cr against Rs19,837cr last year. EBITDA margin declined 416bps yoy to 13.9%. Read more

Top stocks in focus: Wipro, Aurobindo Pharma, Lupin, Rallis India

Published on: 8:21 am

  • Aurobindo Pharma’s US arm entered into an agreement to acquire seven marketed oncology injectable products, intellectual property and commercial infrastructure from Spectrum Pharma.
  • Lupin stock in focus today. USFDA begins inspection at company's Pithampur unit-2, which is currently under warning letter, as per media reports.
  • Axis Bank clarified on news relating to Hawala Scam stating accounts have been opened after complying with KYC norms and the bank does not have any credit exposure to the said entity. The bank also stated that it was working closely with the authorities on this issue. Read more

Broker Radar for January 18

Published on: 8:17 am

CLSA Maintained ‘Buy’ on L&T Technology with a TP of Rs2,100.
  • December quarter review: Stellar growth, margins beat and strong outlook.
  • Large deals ramping-up, pipeline healthy & mining strong but one client issue.
  • See more scope margin improvement; increase estimates by 30-40 basis points. Read more. 

SGX Nifty indicates a gap up opening for the Indian markets

Published on: 8:03 am

  • SGX Nifty is at 10,987.50, up 67.50 points. Results from the 2 heavyweights Reliance & HUL saw volumes & profits beat all estimates, which will further see bouts of short covering in morning trade as bears scramble for cover.
  • Asian indices opened in the green lead by the Japanese "Nikkei" & the South Korean "Kospi' which traded up over 0.5% in early trade. The talks of resolution of trade tariffs saw stocks stage a remarkable rally on Wall Street with Asian indices seeing further effect. Expect more action from the Chinese markets as they respond positively to the above with stocks seeing gains going forward. Read more

Wipro Q3FY19E Result Expectation

Published on: 7:57 am

Consensus expectations for Q3FY19E:
  • Revenue – Rs15,220cr, up 4.7% qoq driven by incremental revenue contribution from the Alight deal and strength in the Financial Services vertical. Reported revenue growth for IT services is expected to be lower as PSU/Govt business will be carved out of the IT services segment.
  • EBIT – Rs2,622cr, up 35.2% qoq
  • EBIT Margin – 17.2%, up ~280bps qoq on reported basis. There were certain exceptional items in Q2FY19 adjusting for which the expansion would be ~50bps qoq. Margin expansion would be aided by operational efficiencies and favorable currency
  • PAT – Rs2,336cr, up 23.7% qoq. Read more

FII and DII Data

Published on: 7:50 am

  • FII/DII Data: In yesterday’s trading session FIIs bought 842cr stock in the cash market whereas DIIs sold 727cr worth of stock. In the derivative market, FIIs sold 598cr of Index futures and bought 620cr worth of Index options. In the Stock futures segment, FIIs bought 445cr worth of stock futures and sold 58cr 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 7147 net contracts in the segment. However, they reduced 10,095 long contracts in Index Put 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

L&T Technology Services Q3FY19 consolidated net profit declines 2.9% qoq to Rs186cr: Beats Est

Published on: 7:47 am

  • L&T Technology Services Ltd (LTTS) reported an in-line set of numbers on all fronts for Q3FY19. The revenue in rupee terms grew 4% qoq to Rs1,317cr, higher than the median consensus estimates of Rs1,315cr. USD revenue grew 4.8% qoq to USD186mn.
  • Reported PAT after minority interest came in at Rs186cr, down 2.9% qoq against the median consensus estimate of Rs178cr. 

What not to miss today

Published on: 7:46 am

  • Markets to open higher following positive global cues; Nifty @10844, resistance 11000.
  • US markets rise on talks of US easing China tariffs during negotiations; Asia follows suit.
  • Rupee logs first gain in five days; rises 21 paise to close at 71.03/$
  • Aurobindo Pharma subsidiary to buy 7 oncology drugs Spectrum Pharma. Read more

Rallis India Ltd's Q3FY19 consolidated net profit declines 44.66% yoy to Rs13.88cr : Misses Estimate

Published on: 7:37 am

  • Rallis India Limited's Q3FY19 consolidated revenue came in at Rs417.35cr, up 7% yoy. The operating profit declined by 26.9% yoy to Rs27.63cr in Q3FY19.
  • The EBITDA margin declined by ~306bps yoy to 6.6% in Q3FY19. The adjusted consolidated net profit (attributable to shareholders) of the company for Q3FY19 stood at Rs13.88cr which is down 44.7% yoy. Read more

Bulk Deals

Published on: 7:27 am

  • GIC Housing Finance: Fidelity Funds-Asian Smaller Companies Pool bought 6.99 lakh shares of the company on NSE and Rs6.98 lakh shares on the BSE at Rs267.49 per share. Fidelity Asian Values Plc also bought 3.63 lakh shares of the company on NSE and 3.61 lakh shares on NSE at same price.
  • Transwind Infra: Armour Capital Private sold 48,000 shares of the company at Rs10.85 per share on the NSE.

Derivative Watch

Published on: 7:17 am

  • 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.
  • Amaraja Battery OTM calls from 800 to 860 strikes have added massive open interest consisting of long positions.
  • Axis Bank, Hexaware & Rec Ltd added long positions.

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