Latest News and Updates

21st Jan, 2019

Asian Paints Q3FY19E Result Expectation

Published on: 4:32 pm

Asian Paints Consensus expectations for Q3FY19E
  • Revenue - Rs4,855.5cr, up 14% yoy, driven by high-double digit growth in decorative paints segment coupled with two rounds of price hikes (2.3% in October and 1.5% in December 2018).
  • EBITDA – Rs937.5cr, up 5.2% yoy.
  • EBITDA margin – 19.3%, contraction of 161bps yoy, due to raw material inflation (Titanium Oxide price was up ~14% yoy in Q3FY19. 
  • PAT -  Rs590.1cr, up 6.4% yoy. Read more

Reliance Industries propels index higher, Nifty ends 54 points in the green

Published on: 4:12 pm

  • Indian benchmark indices managed to end the session in the green on Monday. The Nifty witnessed a breakout from its sideways consolidation over the past three trading sessions led by a strong surge in frontline stocks.
  • The index managed to end the day 54 points higher at 10,961, while Bank Nifty closed 76 points in the green at 27,533 on the back of strong gains in Kotak Mahindra Bank. Read more

Hindustan Zinc Ltd's Q3FY19 standalone net profit declines 3.8% yoy to Rs2,211cr : Beats Estimates

Published on: 3:51 pm

  • Hindustan Zinc reported a mild beat in its Q3FY19 results, with Net Profit and EBITDA margins coming ahead of expectations despite the lower revenues. Revenue fell by 6.5% yoy to Rs5,540cr (expectation Rs5,566cr).
  • EBITDA stood at Rs2,838cr, down 12.5% yoy against estimates of Rs2,813cr. Read more

Lupin receives USFDA approval for gSynthroid

Published on: 3:47 pm

  • Pharma major Lupin, on Monday, announced that it has received the US health regulator’s approval to market its Levothyroxine Sodium tablets USP (25mg, 50mg, 75mg, 88mg, 100mg, 112mg, 125mg, 137mg, 150mg, 175mg, 200mg, and 300mg).
  • The approval from the United States Food and Drug Administration (USFDA’s) is to market the generic version of AbbVie Inc's Synthroid Tablets. Read more

Zydus receives tentative USFDA approval for gNexium

Published on: 3:42 pm

  • Zydus Cadila, on Monday, announced that it has received the tentative approval from the US Food and Drug Administration (USFDA) to market esomeprazole magnesium delayed-release capsules (gNexium). Esomeprazole belongs to the group of medicines termed as proton pump inhibitors and is primarily used to reduce the amount of acid secreted by the stomach.
  • The capsules will be manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad. Read more

Nifty settles above 10,900 mark; Reliance Industries surges 4%

Published on: 3:31 pm

  • Equity benchmark indices ended higher for the fifth consecutive session. Today’s gain was led by Reliance Industries, Kotak Mahindra Bank and Infosys.
  • The Sensex rose 192 points to 35,579 and the Nifty50 Index gained 55 points to 10,962.
  • On the sectoral front, energy, IT and pharma indices gained, while auto, infra, FMCG and metal indices ended in the red.

Srei embarks on capital augmentation scheme and listing of equipment finance business

Published on: 3:20 pm

  • Srei Infrastructure Finance Ltd (Srei) has decided to augment the capital of both its infrastructure finance and equipment finance businesses, which will facilitate the businesses in maintaining and strengthening their current leadership positions further.
  • The move will result in listing of the company's equipment finance business through a composite scheme of arrangement and amalgamation (Scheme) and give shareholders of Srei an opportunity to directly participate in the high growth equipment finance sector. Read more

HUDCO surges 5% after good Q3 numbers

Published on: 2:50 pm

  • Shares of Housing & Urban Development Corporation Ltd (HUDCO) surged 5% after posting strong set of Q3 numbers. The company's net profit was up 27% at Rs328cr in Q3FY19 against Rs259cr in the same quarter last fiscal.
  • The company’s revenue jumped 21.9% at Rs1,310.5cr vs. Rs1,075.3cr.
  • Housing & Urban Development Corporation Ltd is currently trading at Rs45.20 up by Rs2.25 or 5.24% from its previous closing of Rs42.95 on the BSE. The scrip opened at Rs43.05 and has touched a high and low of Rs47.50 and Rs43.05 respectively. Read more

Wipro loses ~2.5% despite posting a 33% increase in PAT

Published on: 2:35 pm

  • Shares of Wipro Ltd dropped ~2.5% in intraday trade on Monday even as the company posted better-than-expected results.
  • The company’s consolidated revenue stood at Rs15,060cr, up 4% qoq and 10% yoy. Read more.

Pharma, IT stocks gain; Sun Pharma rises 3%

Published on: 2:23 pm

Kotak Mahindra Bank stock advances 1% post Q3FY19 results

Published on: 1:53 pm

  • Shares of Kotak Mahindra Bank gained 1% on the BSE in the afternoon session. The bank’s standalone net profit improved 23% yoy to Rs1,291cr against Rs1,053cr last year and was above the consensus estimates.
  • The bank’s standalone NII in Q3FY19 improved ~23% yoy to Rs2,939cr against Rs2,394cr in the same quarter of the previous fiscal. Read more

Live share market update: Reliance Industries propels Nifty higher

Published on: 1:40 pm

  • Indian equity markets continue to trade with a positive bias in early afternoon trade. The Nifty was up 62 points at 10,969, while Bank Nifty was up 157 points at 27,615.
  • The Nifty witnessed a breakout from its sideways consolidation over the past three trading sessions led by strong gains in frontline stocks such as Reliance Industries, Infosys, and Kotak Mahindra Bank which just posted its Q3 numbers. Read more

Kotak Mahindra Bank's Q3FY19 standalone net profit rises 23% yoy to Rs1,290.9cr

Published on: 1:37 pm

  • Kotak Mahindra Bank’s standalone NII in Q3FY19 improved ~23% yoy to Rs2,939cr against Rs2,394cr in the same quarter of the previous fiscal. NIMs for Q3FY19 came in at 4.33% as against 4.2% yoy.
  • The bank’s standalone net profit improved 23% yoy to Rs1,291cr against Rs1,053cr last year and was above the consensus estimates. Read more

L&T Infotech stock declines 1% post Q3 numbers

Published on: 1:06 pm

  • Shares of Larsen and Toubro Infotech slipped in the afternoon session on the BSE. The company’s adjusted net profit stood at Rs375cr, down 6.2% qoq.
  • The company’s revenue grew by 6.1% qoq to Rs2,473cr. EBIT came in at Rs473cr, up 7% qoq. EBIT margin expanded by 17bps qoq to 19.14%.
  • Revenue from the manufacturing segment stood at Rs388cr, up 8.5% qoq driving overall revenue growth. Read more

South Indian Bank slips 8% after Q3FY19 PAT declines 27%

Published on: 12:10 pm

  • Shares of South Indian Bank slipped 8% on the BSE on Monday after the bank's net profit in Q3FY19 declined 27% to Rs83.8cr.
  • It had stood at Rs115cr in the same period of the previous fiscal. Read more. 

Sensex gains over 200 points; Pharma, IT stocks lead

Published on: 11:49 am

  • Domestic stock markets extended gains in the morning trade on Monday.
  • The Sensex jumped 228 points at 36,615, while the Nifty rose 55 points at 10,961 levels. The market breadth was negative with 634 shares advancing, 1,011 shares declining, and 425 remaining unchanged.
  • Reliance Industries, Sun Pharma, and Infosys were the top gainers on the Nifty50, while Wipro, Hero MotoCorp, and IOC were trading in the red.

LIC completes 51% controlling acquisition in IDBI Bank

Published on: 11:35 am

  • LIC completed the acquisition of 51% controlling stake in IDBI Bank making it the majority shareholder of the bank. The deal, conceptualized in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers, & employees of both the entities through mutual synergies, as per a regulatory filing.
  • Shares of IDBI Bank Ltd are currently trading at Rs56.50 down by Rs1.85 or 3.17% from its previous closing of Rs58.35 on the BSE. The scrip opened at Rs58 and has touched a high and low of Rs58.55 and Rs56.30 respectively. Read more

Kotak Mahindra Bank slips ahead of Q3 results

Published on: 11:30 am

  • Kotak Mahindra Bank lost ~1% in intraday trade on Monday ahead of its Q3FY19 results. The lender's shares slipped to a low of Rs1224.50, a drop of ~0.5%, in afternoon trade despite positive Q3 result expectations.
  • The bank's margins are likely to expand quarter-on-quarter (qoq) as the effect of prior MCLR increases becomes visible. Advances growth is also likely to be strong at 19% year-on-year (yoy). The growth is likely to be broad-based, except in the auto finance and business banking segments. Read more

ITI soars ~7% on winning order worth ~Rs1,200cr

Published on: 11:20 am

  • ITI Limited has signed a contract with Gujarat Fibre Grid Network Limited (GFGNL) for implementing BharatNet Phase II project in one of the two packages in the state of Gujarat.
  • The company made the announcement on Saturday evening. Read more. 

RBI approves Vaidyanathan as CEO of IDFC First Bank for 3 years

Published on: 11:02 am

  • The Reserve Bank of India has given its approval for the appointment of V. Vaidyanathan as the Managing Director & CEO of IDFC Bank for a period of 3 (three) years effective the date of his taking charge, i.e., December 19, 2018.
  • IDFC First Bank Ltd is currently trading at Rs47.25 up by Rs0.2 or 0.43% from its previous closing of Rs47.05 on the BSE.
  • The scrip opened at Rs47.60 and has touched a high and low of Rs47.75 and Rs46.80 respectively. Read more

L&T recovers from intraday low

Published on: 11:00 am

  • Shares of L&T recovered from their intraday low on Monday.
  • The stock declined after markets regulator Sebi rejected its Rs9,000cr share buyback plan citing compliance issues over its post-buyback debt-equity ratio. Read more. 

Rupee declines by 22 paise at 71.41/$

Published on: 10:52 am

  • The Indian rupee declined due to increased demand for the greenback from importers amid rising crude prices and foreign fund outflows.
  • The local currency opened lower at 71.38 against the dollar. Read more. 

Asian stocks rally on Chinese data, trade talk optimism

Published on: 10:48 am

  • Asian stocks advanced over investor optimism on trade talks and growth data from China.
  • Chinese stocks are leading the gains today, with the Shanghai Composite up 0.56%, while Japan's Nikkei 225 trading higher by 0.40% and Hong Kong's Hang Seng is up 0.33%. Read more. 

Nifty above 10,950 mark; Sun Pharma, Reliance Industries stocks surge

Published on: 10:13 am

  • Equity benchmark indices swung between gains and losses in opening trade in today’s session. However, the stock market rallied later led by Reliance Industries, Infosys, HDFC Bank, and L&T.
  • The Sensex jumped 264 points at 36,651, while the Nifty rose 65 points at 10,973 levels. The market breadth was positive with 843 shares advancing, 676 shares declining, and 540 remaining unchanged.
  • NTPC, Reliance Industries, Bharti Airtel, Sun Pharma, and Infosys were the top gainers on the Nifty50, while Wipro, L&T, BPCL, Kotak Mahindra Bank, and Axis Bank were trading in the red.

MOIL inks deal with GMDC

Published on: 10:03 am

  • MOIL Limited, a Schedule-A, Miniratna Category-I CPSE under the administrative control of Ministry of Steel, Government of India, has signed a Memorandum of Understanding (MoU) with the Gujarat Mineral Development Corporation Ltd., an undertaking of Government of Gujarat.
  • The two companies have inked a deal to jointly explore manganese bearing areas, exploring its feasibility to conduct mining operations. The company made the announcement on Friday, post market hours. Read more

Sebi rejects Larsen & Toubro's Rs9,000cr buyback offer

Published on: 9:20 am

  • Sebi rejected Larsen & Toubro's Rs9,000cr share buyback plan, citing compliance issues over its post-buyback debt-equity ratio.
  • The company said that Sebi has advised the firm against proceeding with the share buyback. Read more.

Welspun Enterprises gets appointed date from NHAI for road project

Published on: 9:12 am

  • NHAI has declared Jan 16 as appointed date for a Welspun Enterprises project.
  • The project entails the four-laning of the 62.7km stretch of Chikhali — Tarsod (Package-HA) section of NH-6 in the State of Maharashtra, at a bid project cost of Rs1, 048cr. Read more. 

Share Market Update: 5 Stocks that have witnessed maximum change in volatility levels

Published on: 9:02 am

  • Historical volatility is a measure of how much the stock price fluctuated during a given time period (in past).
  • It is referred to as the asset's actual or realized volatility. Read more. 

Wockhardt gets USFDA approval for Leukemia drug

Published on: 8:51 am

  • Pharmaceutical and biotechnology major Wockhardt has received approval from the USFDA for an ANDA for 100mg and 400mg tablets of Imatinib Mesylate, which is used to treat many kinds of cancers and tumors.
  • Wockhardt's Imatinib Mesylate tablets are a generic version of Gleevec, marketed in USA and other countries by Novartis. Imatinib stops the cancer cells from growing and is indicated for treating cancers like Leukemia and some Gastro-lntestinal tumors, the company said in the filing. Read more

SGX Nifty indicates a mildly positive opening for Sensex, Nifty

Published on: 8:46 am

  • SGX Nifty is at 10,955, up 20 points.
  • Nifty saw a volatile session with the index unable to break 10950 on the upside as profit booking emerged on rallies. Read more. 

Results to watch out for - Kotak Mahindra Bank, Hindustan Zinc, HUDCO

Published on: 8:41 am

Share Market Update: 5 Stocks that have witnessed maximum change in volatility levels

Published on: 8:33 am

Historical Volatility 
  • Historical volatility is a measure of how much the stock price fluctuated during a given time period (in past). It is referred to as the asset's actual or realized volatility.
  • Traders make use of historical volatility to estimate the future movement, but there is a chance that the future volatility could deviate from the expected value as the factors influencing the price could change. Major fundamental changes could cause the asset price to stray away from the expected historical volatility. Read more

Broker Radar for January 21

Published on: 8:20 am

Macquarie maintained Underperform on Thermax; cut TP to Rs846 from Rs866.
  • Margins continue to elude leading to disappointment in earnings.
  • Thermax lacks pricing power as it is not the market leader.
  • switch to Cummins India which is trading at discount. Read more.

Top stocks in focus: Kotak Mahindra Bank, L&T, Hindustan Zinc, Raymond

Published on: 8:19 am

  • The Securities and Exchange Board of India advised L&T against Rs9,000cr buyback offer since the debt ratio after buyback would be more than twice capital & reserves. The company had proposed to buyback 610 lakh shares at price of Rs1,475 apiece.
  • Raymond stock in focus today as media report stated that the Sebi has issued showcause notice to the company. Raymond alleging multiple securities market voilation, report added.
  • IDFC First Bank stock in focus as the Reserve Bank of India approved V Vaidyanathan as managing director, chief executive officer of the bank for three years with effect from December 19 2018. Read more

FII and DII Data

Published on: 7:51 am

  • FII/DII Data: In Friday’s trading session FIIs sold 124cr stock in the cash market whereas DIIs sold 1cr worth of stock. In the derivative market, FIIs sold 398cr of Index futures and sold 1054cr worth of Index options. In the Stock futures segment, FIIs bought 537cr worth of stock futures and sold 114cr stock options.
  • FII View: FIIs continued created bearish positions in the Index Futures, in Friday’s trading session they created 3,028 long contracts in the segment. However, considering the volatility they created 10,601 short contracts in Index Put Options.
FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 225 (0) 52 0.9 0.8
Index Short 262 1 81
Index Call Long 212 1 60 2.9 0.7
Index Call Short 72 4 119
Index Put Long 382 (0) 70 2.2 0.6
Index Put Short 172 7 181

What not to miss today

Published on: 7:47 am

- Markets to open slightly higher, Nifty @ 10844, resistance 10975.
- Asian markets gain ahead of China’s GDP numbers.
- NTPC to consider bonus issue on January 30, 2019.
- RBI approves appointment of V Vaidyanathan as IDFC First Bank’s MD & CEO.
- SBI raises $1.25 bn from overseas market. Read more

Bulk Deals

Published on: 7:26 am

  • Jet Airways: Tower Research Capital Markets traded over 20 lakh shares at Rs284.71-284.89 apiece.
  • Tourism Finance Corporation: Third Edge Advisors bought 4.94 lakh shares at Rs135.12 per share.

Derivative Watch

Published on: 7:18 am

  • Sun Pharma took a nosedive, plummeting ~9% on account of whistle-blower complaint.
  • Reliance Industries posted a stellar show, gaining ~5% with the highest single-day volume since February 28, 2018.
  • Among the sectoral indices, Nifty Pharma was the top underperformer, losing ~3% at the close.
  • Since the start of the January series, Nifty & Bank Nifty index have added open interest to the tune of ~25%/95%, consisting mainly of long positions. 
  • On the options front, out of the money call and put options saw continued unwinding of open positions, indicating a possibility of higher volatility after a lackluster week.
  • India Vix ended the day 2% higher at 16.2.

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